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Home My WebLink About2019/11/12 - ADMIN - Agenda Packets - City Council - Study SessionAGENDA NOV. 12, 2019 6:15 p.m. SPECIAL CITY COUNCIL MEETING – Community room 1.Call to order 1a. Roll call 2. Resolutions, ordinances, motions and discussion items 2a. Canvass results of Municipal General Election held on November 5, 2019 Recommended Action: Motion to adopt Resolution declaring results of the Municipal General Election held November 5, 2019 and set the date for post-election review. 3. Adjournment 6:30 p.m. STUDY SESSION – Community room Discussion items 1. 6:30 p.m. Future study session agenda planning and prioritization 2. 6:35 p.m. 2020 budget and capital improvement plan update 3. 7:35 p.m. Annual TIF district management report 8:20 p.m. Communications/updates (verbal) 8:25 p.m. Adjourn Written reports 4. Historic Walker Lake parking ordinance 5. 2019 Connect the Park – Dakota South Bikeway (4019-2000) Auxiliary aids for individuals with disabilities are available upon request. To make arrangements, please call the administration department at 952/924-2525 (TDD 952/924-2518) at least 96 hours in advance of meeting. Meeting: Special city council Meeting date: November 12, 2019 Action agenda item: 2a Executive summary Title: Canvass results of Municipal General Election held on November 5, 2019 Recommended action: Motion to adopt Resolution declaring results of the Municipal General Election held November 5, 2019 and set the date and time for post-election review. Policy consideration: Does the information provided meet the requirements for canvassing of municipal election results as provided in Minnesota Statutes 205.185, subd. 3, St. Louis Park City Charter Section 4.07, and St. Louis Park City Code Chapter 10? Summary: Minnesota Statutes 205.185, sub. 3 states the canvassing of municipal general election results must be conducted between the third and tenth days after an election. St. Louis Park City Charter Section 4.07 requires the city council to meet and canvass election returns within ten days of any regular or special election and declare the results as soon as possible. As required by the City Charter, the attached resolution includes: •Total number of good ballots cast •Total number of spoiled or defective ballots •The vote for each candidate with a declaration of those who were elected •A true copy of the ballots used •The names of the judges and clerks of election •Such other information as may seem pertinent Additionally, Chapter 10 of the St. Louis Park City Code requires a post-election review. At the time of canvass the chief election official (city clerk) will select, by lot, a total of two (2) precincts and (2) offices to be reviewed and set the date, time, and place for the post-election review. Using the actual ballots cast in the two (2) precincts selected, a hand count of ballots will be conducted for the office selected in each precinct. A comparison of the results compiled by the voting system with the results compiled by the judges of election performing the hand count must show that the results of the electronic voting system differed by no more than the applicable percentage threshold, as provided by Minnesota Statutes, section 204C.36, from the hand count of the sample tested. Valid votes that have been marked by the voter outside the vote targets or using a manual marking device that cannot be read by the voting system must not be included in making the determination whether the voting system has met the standard of acceptable performance. Financial or budget considerations: Elections expenses are included in the 2019 budget. Strategic priority consideration: St. Louis Park is committed to creating opportunities to build social capital through community engagement. Supporting documents: Resolution Copy of ballots Elections abstracts Results graphs Prepared by: Melissa Kennedy, city clerk Michael Sund, elections specialist Approved by: Nancy Deno, deputy city manager/HR director Special city council meeting of November 12, 2019 (Item No. 2a) Page 2 Title: Canvass results of Municipal General Election held on November 5, 2019 Resolution No. 19-____ Resolution canvassing election returns of St. Louis Park November 5, 2019 Municipal General Election Whereas, pursuant to City Charter Section 4.07, the city council shall meet, and canvass election returns within ten days of any election and shall declare the results as soon as possible; and Whereas, Minnesota Statutes Section 205.185 sub. 3 states the canvassing of municipal general election results must be conducted between the third and tenth days after an election; and Whereas, the results prepared and certified to by the election judges have been presented in summary form to the city council for inspection, Now therefore be it resolved by the city council as follows: 1.The November 5, 2019 election returns having been canvassed, the votes received by each candidate for city offices are as follows: Mayor Candidate Number of Votes Percent of Votes Jake Spano 5,442 83.10% Yvette Baudelaire 1,082 16.52% Undeclared Write-in (UWI) 17 0.26% Overvote 1 0.02% Undervote 7 0.11% Total votes continuing 6549 **Total votes cast for this office 6549 Totally blank 69 Partially defective 1 Exhausted ballots 0 Total ballots cast citywide 6619 *Threshold to win = 3275 votes Jake Spano received the most votes (5442), which was more than the threshold. Jake Spano was declared the winner in a single round of counting. *Threshold = ((Total votes cast)/(Seats to be elected + 1)) + 1 **The total votes cast for this office does not include totally blank or partially defective ballots as defined by City Code Sec. 10-4. Special city council meeting of November 12, 2019 (Item No. 2a) Page 3 Title: Canvass results of Municipal General Election held on November 5, 2019 Council member at large A Candidate Number of Votes Round 1 Percent of Votes Number of Votes Round 2 Percent of Votes Number of Votes Round 3 Percent of Votes Deb Brinkman 2006 31.84% 2014 31.97% 2483 39.41% Larry Kraft 2752 43.68% 2761 43.83% 3226 51.21% Steve Hallfin 1507 23.92% 1512 24.00% Eliminated Undeclared write-ins (UWI) 15 0.24% Eliminated 0.00% Eliminated Overvote 0 0.00% Eliminated 0.00% Eliminated Undervote 20 0.32% Eliminated 0.00% Eliminated Total votes continuing 6300 6287 5709 **Total votes cast for this office 6300 6300 6300 Totally blank 317 317 317 Partially defective 2 2 2 Exhausted ballots 0 13 0.21% 591 9.38% Total ballots cast citywide 6619 6619 6619 Threshold = 3151 votes Round-by-round summary: 1. Larry Kraft received the most votes (2752) but did not have more than the threshold (3151) to be declared the winner. Overvotes, undervotes, and undeclared write-ins (UWI) will be eliminated in the next round of counting. The next highest choices on those ballots will be added to the totals of the remaining candidates. 2. Larry Kraft received the most votes (2761) but did not have more than the threshold (3151) to be declared the winner. Steve Hallfin will be eliminated in the next round of counting. The next highest choices on those ballots will be added to the totals of the remaining candidates. 3. Larry Kraft received the most votes (3226), which was more than the threshold. Larry Kraft was declared the winner in the third round of counting. *Threshold = ((Total votes cast)/(Seats to be elected + 1)) + 1 **The total votes cast for this office does not include totally blank or partially defective ballots as defined by City Code Sec. 10-4. Special city council meeting of November 12, 2019 (Item No. 2a) Page 4 Title: Canvass results of Municipal General Election held on November 5, 2019 Council member at large B Candidate Number of Votes Percent of Votes Joseph Israel 2,296 36.25% Nadia Mohamed 4,002 63.19% Undeclared Write-in (UWI) 22 0.35% Overvote 1 0.02% Undervote 12 0.19% Total votes continuing 6333 **Total votes cast for this office 6333 Totally blank 285 Partially defective 1 Exhausted ballots 0 Total ballots cast citywide 6619 *Threshold to win = 3167 votes Nadia Mohamed received the most votes (4002), which was more than the threshold. Nadia Mohamed was declared the winner in a single round of counting. *Threshold = ((Total votes cast)/(Seats to be elected + 1)) + 1 **The total votes cast for this office does not include totally blank or partially defective ballots as defined by City Code Sec. 10-4. 2.The number of spoiled ballots, the number of persons registered prior to the election and on Election Day, the number of voter receipts, the number of absentee ballots, and the total number of good votes cast in the city are as follows: Spoiled ballots 113 Registered at 7 a.m. 33,029 Registered on Election Day 199 Total registered voters 33,228 Voter receipts 5,662 Absentee ballots 957 Total voters 6,619 Percent voting citywide 20% Percent voting absentee 14.5% Special city council meeting of November 12, 2019 (Item No. 2a) Page 5 Title: Canvass results of Municipal General Election held on November 5, 2019 3.The clerk and judges of the election were as follows: Melissa Kennedy, City Clerk Michael Sund, Elections Specialist Julia Laden, Elections Intern WARD 1 Election Judges 1-1 Beth El Synagogue 1-2, Peter Hobart Elementary 1-3, St. Louis Park City Hall 1-4, Central Community Center Susanne Adler Margaret Marek Ann Olson Mary Maynard Jeff Narabrooke Katherine Kloehn Casey Merkwan Paul Martin Mark Schwartz Brent Cook Kelly Munoz Hernandez Peggy Adelmann Irving Carper Scott Ryan Lynn Schwartz Todd Hendrickson Jackie Jones Ariann Scott Esther Smith Lisa Hertel Marvin Mohr Rachel Gunderson Barb Virum Louise Mollick Maggie O’Connor Zoe Younger Ruth McCarthy Barb Osfar Barbara Resnick Jane Ahrens Carolyne Turk William Rainey Tom Kukuk Aaron Grossman Susan Wittkop Maya Halpern Kellie Hultgren Dahlia Krebs Bryan Olson Pam Feldman Jill Rohret Eitan Grad David Rotert Kate Redden Lesa Tieszen WARD 2 Election Judges 2-5, Union Congregational Church 2-6, St. Louis Park Rec Center 2-7, Susan Lindgren Elementary 2-8, Aldersgate Methodist Church Kay Drache David Larson, Chair Loren Botner Julie Manuel David Richards Debra Wuebker Henry Solmer Marguerite Krause Eric Nevermann Paul Amla Heather Mainella Patricia Flynn Barbara Ruhl Ellen Lewin Amelia Merfeld Janice Jones-Klausing Tim Schwarz Alison Sipkins Richard Erickson Olivia Nelsen Derrell Deming Hayat Abdullahi Mary Kuhfeld Jonathan Potter Phillip Erwin Ahmad Wazwaz Dorothy Rand Roberta Gale Gloria Murman Haroun Elayed Joy Showalter Kathy Grose Lonni Ranallo Jeffrey Gershone Ernest Tursich Kari Konopliv Sigrid Hutcheson Trina Levin Brian Nerheim Special city council meeting of November 12, 2019 (Item No. 2a) Page 6 Title: Canvass results of Municipal General Election held on November 5, 2019 WARD 3 Election Judges 3-9, Knollwood Place Apartments 3-10, Lenox Community Center 3-11, St. Louis Park Senior High 3-12, Aquila Elementary School William Tape Martin Lee Janet Benson Todd Adler Kimball Justesen Richard Dworsky Mary Wickersham Sara Mutchler Dalia Katz Brenda Berglund Jacqueline Buda Brendalee Litman Karen Kiecker Rob Jewell Susanne Mattison David Miller Rick Person Gail Miller Richard Olson Steve Nachtwey Krystal Oeth Rita Martinez Mary Sincheff Mark Ennenga Amy Bobence Karne Nelson-Zilka Thorwald Anderson Sally Anne Dunn Wesley Hanson Theresa Welcher Dane Germany Teri Olson Joan Hjelmeland Jennifer Witthuhn Erin Grimsrud Judy Simmons Aimee Jackson Isabella Guy Allan Boyce WARD 4 Election Judges 4-13, Westwood Lutheran Church 4-14, Park Assembly Church 4-15, Peace Presbyterian Church 4-16, St. Louis Park Middle School Angela Fischels Lawrence Grose Elaine Savick David Brehmer Linda Hines Gina Soucheray Dana Uhrig-Fox Jeff Huebner Patricia Campbell Arlene Bleecker Christine Johnson Laura Butterbaugh Jamie McReynolds Lyn Culbert Patricia Kremer Dorothy Claus-Yurik Nicki Pretzer Sheila Desnick Brenda Martens Ken Huiras Gary Berkovitz Eirik Rasmusson Elaine Rider Alene Walker Steven Erickson Jim Brimeyer Marjorie Laskey Sarah Johnson Jeanne Stevens Doug Jones Meredith Paul Deanna Spiden Rich Thorne Kathy McKay Julie Weaver Jean Miller Barb Person LeAnn Sawatzky 4. True copies of the ballots are attached. Now, therefore, be it further resolved by the city council that the following candidates have been elected to four (4) year terms commencing on the first (1st) regularly scheduled meeting of 2020: •Mayor – Jake Spano •Council member at large A – Larry Kraft •Council member at large B – Nadia Mohamed Reviewed for administration: Adopted by the city council November 12, 2019 Thomas K. Harmening, city manager Jake Spano, mayor Attest: Melissa Kennedy, city clerk Official Ballot General Election Ballot City of St Louis Park November 5, 2019 Judge _________ Judge _________ City Offices ST LOUIS PARK W-1 P-01 2790 Typ:01 Seq:0080 Spl:01 Vote front and back of ballot Continue voting on the school district ballot. Ranked Choice Voting Instructions to the Voters: • Vote from left to right in each office. Your first choice is the candidate you would most like to see elected. • You are allowed to rank up to three (3) candidates for each office. • Completely fill in the oval(s) next to your choice(s) like this: () Candidate Name Fill in the oval(s) completely.→ No more than one oval in a column.→ City Offices Mayor Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Mayor1st Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any 2 2nd Choice Mayor2nd Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any 3 3rd Choice Mayor3rd Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any City Offices Council Member At Large A Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large A1st Choice, if any. Select One Steve Hallfin Larry Kraft Deb Brinkman write-in, if any 2 2nd Choice Council Member At Large A2nd Choice, if any. Select One Steve Hallfin Larry Kraft Deb Brinkman write-in, if any 3 3rd Choice Council Member At Large A3rd Choice, if any. Select One Steve Hallfin Larry Kraft Deb Brinkman write-in, if any City Offices Council Member At Large B Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large B1st Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 2 2nd Choice Council Member At Large B2nd Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 3 3rd Choice Council Member At Large B3rd Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 11 21 40 41 45 47 54 SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 7 Vote front and back of ballot General Election Ballot School District Ballot Independent School District No. 283 (St Louis Park) November 5, 2019 Instructions to Voters: To vote, completely fill in the oval(s) next to your choice(s) like this: ST LOUIS PARK W-1 P-01 2790 School District Offices School Board Member Independent School District No. 283 (St Louis Park) Vote for Up to Four Kari Ross Jim Leuthner Jessica Janoski Heather Wilsey C. Colin Cox Ken Morrison Laura McClendon Jim Beneke write-in, if any write-in, if any write-in, if any write-in, if any SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 8 Official Ballot General Election Ballot City of St Louis Park November 5, 2019 Judge _________ Judge _________ City Offices ST LOUIS PARK W-1 P-02 2795 Typ:01 Seq:0081 Spl:01 Vote front and back of ballot Continue voting on the school district ballot. Ranked Choice Voting Instructions to the Voters: • Vote from left to right in each office. Your first choice is the candidate you would most like to see elected. • You are allowed to rank up to three (3) candidates for each office. • Completely fill in the oval(s) next to your choice(s) like this: () Candidate Name Fill in the oval(s) completely.→ No more than one oval in a column.→ City Offices Mayor Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Mayor1st Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any 2 2nd Choice Mayor2nd Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any 3 3rd Choice Mayor3rd Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any City Offices Council Member At Large A Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large A1st Choice, if any. Select One Deb Brinkman Steve Hallfin Larry Kraft write-in, if any 2 2nd Choice Council Member At Large A2nd Choice, if any. Select One Deb Brinkman Steve Hallfin Larry Kraft write-in, if any 3 3rd Choice Council Member At Large A3rd Choice, if any. Select One Deb Brinkman Steve Hallfin Larry Kraft write-in, if any City Offices Council Member At Large B Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large B1st Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 2 2nd Choice Council Member At Large B2nd Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 3 3rd Choice Council Member At Large B3rd Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 11 21 40 41 45 48 51 SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 9 Vote front and back of ballot General Election Ballot School District Ballot Independent School District No. 283 (St Louis Park) November 5, 2019 Instructions to Voters: To vote, completely fill in the oval(s) next to your choice(s) like this: ST LOUIS PARK W-1 P-02 2795 School District Offices School Board Member Independent School District No. 283 (St Louis Park) Vote for Up to Four C. Colin Cox Ken Morrison Laura McClendon Jim Beneke Kari Ross Jim Leuthner Jessica Janoski Heather Wilsey write-in, if any write-in, if any write-in, if any write-in, if any SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 10 Official Ballot General Election Ballot City of St Louis Park November 5, 2019 Judge _________ Judge _________ City Offices ST LOUIS PARK W-1 P-03 2800 Typ:01 Seq:0082 Spl:01 Vote front and back of ballot Continue voting on the school district ballot. Ranked Choice Voting Instructions to the Voters: • Vote from left to right in each office. Your first choice is the candidate you would most like to see elected. • You are allowed to rank up to three (3) candidates for each office. • Completely fill in the oval(s) next to your choice(s) like this: () Candidate Name Fill in the oval(s) completely.→ No more than one oval in a column.→ City Offices Mayor Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Mayor1st Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any 2 2nd Choice Mayor2nd Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any 3 3rd Choice Mayor3rd Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any City Offices Council Member At Large A Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large A1st Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any 2 2nd Choice Council Member At Large A2nd Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any 3 3rd Choice Council Member At Large A3rd Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any City Offices Council Member At Large B Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large B1st Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 2 2nd Choice Council Member At Large B2nd Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 3 3rd Choice Council Member At Large B3rd Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 11 21 40 41 45 48 52 SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 11 Vote front and back of ballot General Election Ballot School District Ballot Independent School District No. 283 (St Louis Park) November 5, 2019 Instructions to Voters: To vote, completely fill in the oval(s) next to your choice(s) like this: ST LOUIS PARK W-1 P-03 2800 School District Offices School Board Member Independent School District No. 283 (St Louis Park) Vote for Up to Four Laura McClendon Jim Beneke Kari Ross Jim Leuthner Jessica Janoski Heather Wilsey C. Colin Cox Ken Morrison write-in, if any write-in, if any write-in, if any write-in, if any SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 12 Official Ballot General Election Ballot City of St Louis Park November 5, 2019 Judge _________ Judge _________ City Offices ST LOUIS PARK W-1 P-04 2805 Typ:01 Seq:0083 Spl:01 Vote front and back of ballot Continue voting on the school district ballot. Ranked Choice Voting Instructions to the Voters: • Vote from left to right in each office. Your first choice is the candidate you would most like to see elected. • You are allowed to rank up to three (3) candidates for each office. • Completely fill in the oval(s) next to your choice(s) like this: () Candidate Name Fill in the oval(s) completely.→ No more than one oval in a column.→ City Offices Mayor Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Mayor1st Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any 2 2nd Choice Mayor2nd Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any 3 3rd Choice Mayor3rd Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any City Offices Council Member At Large A Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large A1st Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any 2 2nd Choice Council Member At Large A2nd Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any 3 3rd Choice Council Member At Large A3rd Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any City Offices Council Member At Large B Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large B1st Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 2 2nd Choice Council Member At Large B2nd Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 3 3rd Choice Council Member At Large B3rd Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 11 21 40 41 45 48 53 SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 13 Vote front and back of ballot General Election Ballot School District Ballot Independent School District No. 283 (St Louis Park) November 5, 2019 Instructions to Voters: To vote, completely fill in the oval(s) next to your choice(s) like this: ST LOUIS PARK W-1 P-04 2805 School District Offices School Board Member Independent School District No. 283 (St Louis Park) Vote for Up to Four Ken Morrison Laura McClendon Jim Beneke Kari Ross Jim Leuthner Jessica Janoski Heather Wilsey C. Colin Cox write-in, if any write-in, if any write-in, if any write-in, if any SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 14 Official Ballot General Election Ballot City of St Louis Park November 5, 2019 Judge _________ Judge _________ City Offices ST LOUIS PARK W-2 P-05 2810 Typ:01 Seq:0084 Spl:01 Vote front and back of ballot Continue voting on the school district ballot. Ranked Choice Voting Instructions to the Voters: • Vote from left to right in each office. Your first choice is the candidate you would most like to see elected. • You are allowed to rank up to three (3) candidates for each office. • Completely fill in the oval(s) next to your choice(s) like this: () Candidate Name Fill in the oval(s) completely.→ No more than one oval in a column.→ City Offices Mayor Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Mayor1st Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any 2 2nd Choice Mayor2nd Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any 3 3rd Choice Mayor3rd Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any City Offices Council Member At Large A Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large A1st Choice, if any. Select One Steve Hallfin Larry Kraft Deb Brinkman write-in, if any 2 2nd Choice Council Member At Large A2nd Choice, if any. Select One Steve Hallfin Larry Kraft Deb Brinkman write-in, if any 3 3rd Choice Council Member At Large A3rd Choice, if any. Select One Steve Hallfin Larry Kraft Deb Brinkman write-in, if any City Offices Council Member At Large B Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large B1st Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 2 2nd Choice Council Member At Large B2nd Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 3 3rd Choice Council Member At Large B3rd Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 11 21 40 41 45 48 54 SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 15 Vote front and back of ballot General Election Ballot School District Ballot Independent School District No. 283 (St Louis Park) November 5, 2019 Instructions to Voters: To vote, completely fill in the oval(s) next to your choice(s) like this: ST LOUIS PARK W-2 P-05 2810 School District Offices School Board Member Independent School District No. 283 (St Louis Park) Vote for Up to Four Jim Beneke Kari Ross Jim Leuthner Jessica Janoski Heather Wilsey C. Colin Cox Ken Morrison Laura McClendon write-in, if any write-in, if any write-in, if any write-in, if any SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 16 Official Ballot General Election Ballot City of St Louis Park November 5, 2019 Judge _________ Judge _________ City Offices ST LOUIS PARK W-2 P-06 2815 Typ:01 Seq:0085 Spl:01 Vote front and back of ballot Continue voting on the school district ballot. Ranked Choice Voting Instructions to the Voters: • Vote from left to right in each office. Your first choice is the candidate you would most like to see elected. • You are allowed to rank up to three (3) candidates for each office. • Completely fill in the oval(s) next to your choice(s) like this: () Candidate Name Fill in the oval(s) completely.→ No more than one oval in a column.→ City Offices Mayor Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Mayor1st Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any 2 2nd Choice Mayor2nd Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any 3 3rd Choice Mayor3rd Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any City Offices Council Member At Large A Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large A1st Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any 2 2nd Choice Council Member At Large A2nd Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any 3 3rd Choice Council Member At Large A3rd Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any City Offices Council Member At Large B Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large B1st Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 2 2nd Choice Council Member At Large B2nd Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 3 3rd Choice Council Member At Large B3rd Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 11 21 40 41 45 49 51 SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 17 Vote front and back of ballot General Election Ballot School District Ballot Independent School District No. 283 (St Louis Park) November 5, 2019 Instructions to Voters: To vote, completely fill in the oval(s) next to your choice(s) like this: ST LOUIS PARK W-2 P-06 2815 School District Offices School Board Member Independent School District No. 283 (St Louis Park) Vote for Up to Four Jim Beneke Kari Ross Jim Leuthner Jessica Janoski Heather Wilsey C. Colin Cox Ken Morrison Laura McClendon write-in, if any write-in, if any write-in, if any write-in, if any SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 18 Official Ballot General Election Ballot City of St Louis Park November 5, 2019 Judge _________ Judge _________ City Offices ST LOUIS PARK W-2 P-07ISD 273 2820 Typ:01 Seq:0086 Spl:01 Vote front and back of ballot Continue voting on the school district ballot. Ranked Choice Voting Instructions to the Voters: • Vote from left to right in each office. Your first choice is the candidate you would most like to see elected. • You are allowed to rank up to three (3) candidates for each office. • Completely fill in the oval(s) next to your choice(s) like this: () Candidate Name Fill in the oval(s) completely.→ No more than one oval in a column.→ City Offices Mayor Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Mayor1st Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any 2 2nd Choice Mayor2nd Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any 3 3rd Choice Mayor3rd Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any City Offices Council Member At Large A Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large A1st Choice, if any. Select One Deb Brinkman Steve Hallfin Larry Kraft write-in, if any 2 2nd Choice Council Member At Large A2nd Choice, if any. Select One Deb Brinkman Steve Hallfin Larry Kraft write-in, if any 3 3rd Choice Council Member At Large A3rd Choice, if any. Select One Deb Brinkman Steve Hallfin Larry Kraft write-in, if any City Offices Council Member At Large B Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large B1st Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 2 2nd Choice Council Member At Large B2nd Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 3 3rd Choice Council Member At Large B3rd Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 11 21 40 41 45 49 52 SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 19 Vote front and back of ballot General Election Ballot School District Ballot Independent School District No. 273 (Edina Public Schools) November 5, 2019 Instructions to Voters: To vote, completely fill in the oval(s) next to your choice(s) like this: ST LOUIS PARK W-2 P-07ISD 273 2820 School District Offices School Board Member Independent School District No. 273 (Edina Public Schools) Vote for Up to Three Lou Nanne Leny K. Wallen-Friedman Janie Shaw Garrett Knudsen Julie Greene Linda Friede Sarah Patzloff write-in, if any write-in, if any write-in, if any SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 20 Official Ballot General Election Ballot City of St Louis Park November 5, 2019 Judge _________ Judge _________ City Offices ST LOUIS PARK W-2 P-07ISD 283 2820 Typ:01 Seq:0087 Spl:01 Vote front and back of ballot Ranked Choice Voting Instructions to the Voters: • Vote from left to right in each office. Your first choice is the candidate you would most like to see elected. • You are allowed to rank up to three (3) candidates for each office. • Completely fill in the oval(s) next to your choice(s) like this: () Candidate Name Fill in the oval(s) completely.→ No more than one oval in a column.→ City Offices Mayor Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Mayor1st Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any 2 2nd Choice Mayor2nd Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any 3 3rd Choice Mayor3rd Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any City Offices Council Member At Large A Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large A1st Choice, if any. Select One Deb Brinkman Steve Hallfin Larry Kraft write-in, if any 2 2nd Choice Council Member At Large A2nd Choice, if any. Select One Deb Brinkman Steve Hallfin Larry Kraft write-in, if any 3 3rd Choice Council Member At Large A3rd Choice, if any. Select One Deb Brinkman Steve Hallfin Larry Kraft write-in, if any City Offices Council Member At Large B Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large B1st Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 2 2nd Choice Council Member At Large B2nd Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 3 3rd Choice Council Member At Large B3rd Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 11 21 40 41 45 49 53 SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 21 Vote front and back of ballot General Election Ballot School District Ballot Independent School District No. 283 (St Louis Park) November 5, 2019 Instructions to Voters: To vote, completely fill in the oval(s) next to your choice(s) like this: ST LOUIS PARK W-2 P-07ISD 283 2820 School District Offices School Board Member Independent School District No. 283 (St Louis Park) Vote for Up to Four Jim Leuthner Jessica Janoski Heather Wilsey C. Colin Cox Ken Morrison Laura McClendon Jim Beneke Kari Ross write-in, if any write-in, if any write-in, if any write-in, if any SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 22 Official Ballot General Election Ballot City of St Louis Park November 5, 2019 Judge _________ Judge _________ City Offices ST LOUIS PARK W-2 P-08ISD 270 2825 Typ:01 Seq:0088 Spl:01 Vote front and back of ballot Continue voting on the school district ballot. Ranked Choice Voting Instructions to the Voters: • Vote from left to right in each office. Your first choice is the candidate you would most like to see elected. • You are allowed to rank up to three (3) candidates for each office. • Completely fill in the oval(s) next to your choice(s) like this: () Candidate Name Fill in the oval(s) completely.→ No more than one oval in a column.→ City Offices Mayor Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Mayor1st Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any 2 2nd Choice Mayor2nd Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any 3 3rd Choice Mayor3rd Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any City Offices Council Member At Large A Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large A1st Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any 2 2nd Choice Council Member At Large A2nd Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any 3 3rd Choice Council Member At Large A3rd Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any City Offices Council Member At Large B Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large B1st Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 2 2nd Choice Council Member At Large B2nd Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 3 3rd Choice Council Member At Large B3rd Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 11 21 40 41 45 49 54 SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 23 Vote front and back of ballot General Election Ballot School District Ballot Independent School District No. 270 (Hopkins Public Schools) November 5, 2019 Instructions to Voters: To vote, completely fill in the oval(s) next to your choice(s) like this: ST LOUIS PARK W-2 P-08ISD 270 2825 School District Offices School Board Member Independent School District No. 270 (Hopkins Public Schools) Vote for Up to Four Shannon Andreson David (Dave) G. Larson Tanya Khan Kris Newcomer Steve Adams Benjamin Karls Katie O'Shea Pederson write-in, if any write-in, if any write-in, if any write-in, if any SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 24 Official Ballot General Election Ballot City of St Louis Park November 5, 2019 Judge _________ Judge _________ City Offices ST LOUIS PARK W-2 P-08ISD 283 2825 Typ:01 Seq:0089 Spl:01 Vote front and back of ballot Ranked Choice Voting Instructions to the Voters: • Vote from left to right in each office. Your first choice is the candidate you would most like to see elected. • You are allowed to rank up to three (3) candidates for each office. • Completely fill in the oval(s) next to your choice(s) like this: () Candidate Name Fill in the oval(s) completely.→ No more than one oval in a column.→ City Offices Mayor Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Mayor1st Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any 2 2nd Choice Mayor2nd Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any 3 3rd Choice Mayor3rd Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any City Offices Council Member At Large A Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large A1st Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any 2 2nd Choice Council Member At Large A2nd Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any 3 3rd Choice Council Member At Large A3rd Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any City Offices Council Member At Large B Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large B1st Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 2 2nd Choice Council Member At Large B2nd Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 3 3rd Choice Council Member At Large B3rd Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 11 21 40 41 46 47 51 SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 25 Vote front and back of ballot General Election Ballot School District Ballot Independent School District No. 283 (St Louis Park) November 5, 2019 Instructions to Voters: To vote, completely fill in the oval(s) next to your choice(s) like this: ST LOUIS PARK W-2 P-08ISD 283 2825 School District Offices School Board Member Independent School District No. 283 (St Louis Park) Vote for Up to Four Jessica Janoski Heather Wilsey C. Colin Cox Ken Morrison Laura McClendon Jim Beneke Kari Ross Jim Leuthner write-in, if any write-in, if any write-in, if any write-in, if any SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 26 Official Ballot General Election Ballot City of St Louis Park November 5, 2019 Judge _________ Judge _________ City Offices ST LOUIS PARK W-3 P-09 2830 Typ:01 Seq:0090 Spl:01 Vote front and back of ballot Continue voting on the school district ballot. Ranked Choice Voting Instructions to the Voters: • Vote from left to right in each office. Your first choice is the candidate you would most like to see elected. • You are allowed to rank up to three (3) candidates for each office. • Completely fill in the oval(s) next to your choice(s) like this: () Candidate Name Fill in the oval(s) completely.→ No more than one oval in a column.→ City Offices Mayor Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Mayor1st Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any 2 2nd Choice Mayor2nd Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any 3 3rd Choice Mayor3rd Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any City Offices Council Member At Large A Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large A1st Choice, if any. Select One Deb Brinkman Steve Hallfin Larry Kraft write-in, if any 2 2nd Choice Council Member At Large A2nd Choice, if any. Select One Deb Brinkman Steve Hallfin Larry Kraft write-in, if any 3 3rd Choice Council Member At Large A3rd Choice, if any. Select One Deb Brinkman Steve Hallfin Larry Kraft write-in, if any City Offices Council Member At Large B Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large B1st Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 2 2nd Choice Council Member At Large B2nd Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 3 3rd Choice Council Member At Large B3rd Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 11 21 40 41 46 47 52 SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 27 Vote front and back of ballot General Election Ballot School District Ballot Independent School District No. 283 (St Louis Park) November 5, 2019 Instructions to Voters: To vote, completely fill in the oval(s) next to your choice(s) like this: ST LOUIS PARK W-3 P-09 2830 School District Offices School Board Member Independent School District No. 283 (St Louis Park) Vote for Up to Four Heather Wilsey C. Colin Cox Ken Morrison Laura McClendon Jim Beneke Kari Ross Jim Leuthner Jessica Janoski write-in, if any write-in, if any write-in, if any write-in, if any SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 28 Official Ballot General Election Ballot City of St Louis Park November 5, 2019 Judge _________ Judge _________ City Offices ST LOUIS PARK W-3 P-10 2835 Typ:01 Seq:0091 Spl:01 Vote front and back of ballot Continue voting on the school district ballot. Ranked Choice Voting Instructions to the Voters: • Vote from left to right in each office. Your first choice is the candidate you would most like to see elected. • You are allowed to rank up to three (3) candidates for each office. • Completely fill in the oval(s) next to your choice(s) like this: () Candidate Name Fill in the oval(s) completely.→ No more than one oval in a column.→ City Offices Mayor Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Mayor1st Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any 2 2nd Choice Mayor2nd Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any 3 3rd Choice Mayor3rd Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any City Offices Council Member At Large A Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large A1st Choice, if any. Select One Steve Hallfin Larry Kraft Deb Brinkman write-in, if any 2 2nd Choice Council Member At Large A2nd Choice, if any. Select One Steve Hallfin Larry Kraft Deb Brinkman write-in, if any 3 3rd Choice Council Member At Large A3rd Choice, if any. Select One Steve Hallfin Larry Kraft Deb Brinkman write-in, if any City Offices Council Member At Large B Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large B1st Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 2 2nd Choice Council Member At Large B2nd Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 3 3rd Choice Council Member At Large B3rd Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 11 21 40 41 46 47 53 SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 29 Vote front and back of ballot General Election Ballot School District Ballot Independent School District No. 283 (St Louis Park) November 5, 2019 Instructions to Voters: To vote, completely fill in the oval(s) next to your choice(s) like this: ST LOUIS PARK W-3 P-10 2835 School District Offices School Board Member Independent School District No. 283 (St Louis Park) Vote for Up to Four Jessica Janoski Heather Wilsey C. Colin Cox Ken Morrison Laura McClendon Jim Beneke Kari Ross Jim Leuthner write-in, if any write-in, if any write-in, if any write-in, if any SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 30 Official Ballot General Election Ballot City of St Louis Park November 5, 2019 Judge _________ Judge _________ City Offices ST LOUIS PARK W-3 P-11 2840 Typ:01 Seq:0092 Spl:01 Vote front and back of ballot Continue voting on the school district ballot. Ranked Choice Voting Instructions to the Voters: • Vote from left to right in each office. Your first choice is the candidate you would most like to see elected. • You are allowed to rank up to three (3) candidates for each office. • Completely fill in the oval(s) next to your choice(s) like this: () Candidate Name Fill in the oval(s) completely.→ No more than one oval in a column.→ City Offices Mayor Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Mayor1st Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any 2 2nd Choice Mayor2nd Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any 3 3rd Choice Mayor3rd Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any City Offices Council Member At Large A Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large A1st Choice, if any. Select One Deb Brinkman Steve Hallfin Larry Kraft write-in, if any 2 2nd Choice Council Member At Large A2nd Choice, if any. Select One Deb Brinkman Steve Hallfin Larry Kraft write-in, if any 3 3rd Choice Council Member At Large A3rd Choice, if any. Select One Deb Brinkman Steve Hallfin Larry Kraft write-in, if any City Offices Council Member At Large B Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large B1st Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 2 2nd Choice Council Member At Large B2nd Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 3 3rd Choice Council Member At Large B3rd Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 11 21 40 41 46 47 54 SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 31 Vote front and back of ballot General Election Ballot School District Ballot Independent School District No. 283 (St Louis Park) November 5, 2019 Instructions to Voters: To vote, completely fill in the oval(s) next to your choice(s) like this: ST LOUIS PARK W-3 P-11 2840 School District Offices School Board Member Independent School District No. 283 (St Louis Park) Vote for Up to Four Kari Ross Jim Leuthner Jessica Janoski Heather Wilsey C. Colin Cox Ken Morrison Laura McClendon Jim Beneke write-in, if any write-in, if any write-in, if any write-in, if any SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 32 Official Ballot General Election Ballot City of St Louis Park November 5, 2019 Judge _________ Judge _________ City Offices ST LOUIS PARK W-3 P-12 2845 Typ:01 Seq:0093 Spl:01 Vote front and back of ballot Continue voting on the school district ballot. Ranked Choice Voting Instructions to the Voters: • Vote from left to right in each office. Your first choice is the candidate you would most like to see elected. • You are allowed to rank up to three (3) candidates for each office. • Completely fill in the oval(s) next to your choice(s) like this: () Candidate Name Fill in the oval(s) completely.→ No more than one oval in a column.→ City Offices Mayor Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Mayor1st Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any 2 2nd Choice Mayor2nd Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any 3 3rd Choice Mayor3rd Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any City Offices Council Member At Large A Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large A1st Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any 2 2nd Choice Council Member At Large A2nd Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any 3 3rd Choice Council Member At Large A3rd Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any City Offices Council Member At Large B Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large B1st Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 2 2nd Choice Council Member At Large B2nd Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 3 3rd Choice Council Member At Large B3rd Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 11 21 40 41 46 48 51 SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 33 Vote front and back of ballot General Election Ballot School District Ballot Independent School District No. 283 (St Louis Park) November 5, 2019 Instructions to Voters: To vote, completely fill in the oval(s) next to your choice(s) like this: ST LOUIS PARK W-3 P-12 2845 School District Offices School Board Member Independent School District No. 283 (St Louis Park) Vote for Up to Four Laura McClendon Jim Beneke Kari Ross Jim Leuthner Jessica Janoski Heather Wilsey C. Colin Cox Ken Morrison write-in, if any write-in, if any write-in, if any write-in, if any SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 34 Official Ballot General Election Ballot City of St Louis Park November 5, 2019 Judge _________ Judge _________ City Offices ST LOUIS PARK W-4 P-13ISD 270 2850 Typ:01 Seq:0094 Spl:01 Vote front and back of ballot Continue voting on the school district ballot. Ranked Choice Voting Instructions to the Voters: • Vote from left to right in each office. Your first choice is the candidate you would most like to see elected. • You are allowed to rank up to three (3) candidates for each office. • Completely fill in the oval(s) next to your choice(s) like this: () Candidate Name Fill in the oval(s) completely.→ No more than one oval in a column.→ City Offices Mayor Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Mayor1st Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any 2 2nd Choice Mayor2nd Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any 3 3rd Choice Mayor3rd Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any City Offices Council Member At Large A Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large A1st Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any 2 2nd Choice Council Member At Large A2nd Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any 3 3rd Choice Council Member At Large A3rd Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any City Offices Council Member At Large B Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large B1st Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 2 2nd Choice Council Member At Large B2nd Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 3 3rd Choice Council Member At Large B3rd Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 11 21 40 41 46 48 52 SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 35 Vote front and back of ballot General Election Ballot School District Ballot Independent School District No. 270 (Hopkins Public Schools) November 5, 2019 Instructions to Voters: To vote, completely fill in the oval(s) next to your choice(s) like this: ST LOUIS PARK W-4 P-13ISD 270 2850 School District Offices School Board Member Independent School District No. 270 (Hopkins Public Schools) Vote for Up to Four David (Dave) G. Larson Tanya Khan Kris Newcomer Steve Adams Benjamin Karls Katie O'Shea Pederson Shannon Andreson write-in, if any write-in, if any write-in, if any write-in, if any SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 36 Official Ballot General Election Ballot City of St Louis Park November 5, 2019 Judge _________ Judge _________ ST LOUIS PARK W-4 P-13ISD 283 2850 Typ:01 Seq:0095 Spl:01 Vote front and back of ballot Ranked Choice Voting Instructions to the Voters: • Vote from left to right in each office. Your first choice is the candidate you would most like to see elected. • You are allowed to rank up to three (3) candidates for each office. • Completely fill in the oval(s) next to your choice(s) like this: () Candidate Name Fill in the oval(s) completely.→ No more than one oval in a column.→ City Offices Mayor Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Mayor1st Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any 2 2nd Choice Mayor2nd Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any 3 3rd Choice Mayor3rd Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any City Offices Council Member At Large A Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large A1st Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any 2 2nd Choice Council Member At Large A2nd Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any 3 3rd Choice Council Member At Large A3rd Choice, if any. Select One Larry Kraft Deb Brinkman Steve Hallfin write-in, if any City Offices Council Member At Large B Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large B1st Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 2 2nd Choice Council Member At Large B2nd Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 3 3rd Choice Council Member At Large B3rd Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 11 21 40 41 46 48 53 SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 37 Vote front and back of ballot General Election Ballot School District Ballot Independent School District No. 283 (St Louis Park) November 5, 2019 Instructions to Voters: To vote, completely fill in the oval(s) next to your choice(s) like this: ST LOUIS PARK W-4 P-13ISD 283 2850 School District Offices School Board Member Independent School District No. 283 (St Louis Park) Vote for Up to Four C. Colin Cox Ken Morrison Laura McClendon Jim Beneke Kari Ross Jim Leuthner Jessica Janoski Heather Wilsey write-in, if any write-in, if any write-in, if any write-in, if any SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 38 Official Ballot General Election Ballot City of St Louis Park November 5, 2019 Judge _________ Judge _________ City Offices ST LOUIS PARK W-4 P-14 2855 Typ:01 Seq:0096 Spl:01 Vote front and back of ballot Continue voting on the school district ballot. Ranked Choice Voting Instructions to the Voters: • Vote from left to right in each office. Your first choice is the candidate you would most like to see elected. • You are allowed to rank up to three (3) candidates for each office. • Completely fill in the oval(s) next to your choice(s) like this: () Candidate Name Fill in the oval(s) completely.→ No more than one oval in a column.→ City Offices Mayor Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Mayor1st Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any 2 2nd Choice Mayor2nd Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any 3 3rd Choice Mayor3rd Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any City Offices Council Member At Large A Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large A1st Choice, if any. Select One Steve Hallfin Larry Kraft Deb Brinkman write-in, if any 2 2nd Choice Council Member At Large A2nd Choice, if any. Select One Steve Hallfin Larry Kraft Deb Brinkman write-in, if any 3 3rd Choice Council Member At Large A3rd Choice, if any. Select One Steve Hallfin Larry Kraft Deb Brinkman write-in, if any City Offices Council Member At Large B Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large B1st Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 2 2nd Choice Council Member At Large B2nd Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 3 3rd Choice Council Member At Large B3rd Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 11 21 40 41 46 48 54 SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 39 Vote front and back of ballot General Election Ballot School District Ballot Independent School District No. 283 (St Louis Park) November 5, 2019 Instructions to Voters: To vote, completely fill in the oval(s) next to your choice(s) like this: ST LOUIS PARK W-4 P-14 2855 School District Offices School Board Member Independent School District No. 283 (St Louis Park) Vote for Up to Four Ken Morrison Laura McClendon Jim Beneke Kari Ross Jim Leuthner Jessica Janoski Heather Wilsey C. Colin Cox write-in, if any write-in, if any write-in, if any write-in, if any SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 40 Official Ballot General Election Ballot City of St Louis Park November 5, 2019 Judge _________ Judge _________ City Offices ST LOUIS PARK W-4 P-15 2860 Typ:01 Seq:0097 Spl:01 Vote front and back of ballot Continue voting on the school district ballot. Ranked Choice Voting Instructions to the Voters: • Vote from left to right in each office. Your first choice is the candidate you would most like to see elected. • You are allowed to rank up to three (3) candidates for each office. • Completely fill in the oval(s) next to your choice(s) like this: () Candidate Name Fill in the oval(s) completely.→ No more than one oval in a column.→ City Offices Mayor Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Mayor1st Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any 2 2nd Choice Mayor2nd Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any 3 3rd Choice Mayor3rd Choice, if any. Select One Jake Spano Yvette Baudelaire write-in, if any City Offices Council Member At Large A Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large A1st Choice, if any. Select One Steve Hallfin Larry Kraft Deb Brinkman write-in, if any 2 2nd Choice Council Member At Large A2nd Choice, if any. Select One Steve Hallfin Larry Kraft Deb Brinkman write-in, if any 3 3rd Choice Council Member At Large A3rd Choice, if any. Select One Steve Hallfin Larry Kraft Deb Brinkman write-in, if any City Offices Council Member At Large B Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large B1st Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 2 2nd Choice Council Member At Large B2nd Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 3 3rd Choice Council Member At Large B3rd Choice, if any. Select One Joseph Israel Nadia Mohamed write-in, if any 11 21 40 41 46 49 51 SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 41 Vote front and back of ballot General Election Ballot School District Ballot Independent School District No. 283 (St Louis Park) November 5, 2019 Instructions to Voters: To vote, completely fill in the oval(s) next to your choice(s) like this: ST LOUIS PARK W-4 P-15 2860 School District Offices School Board Member Independent School District No. 283 (St Louis Park) Vote for Up to Four Heather Wilsey C. Colin Cox Ken Morrison Laura McClendon Jim Beneke Kari Ross Jim Leuthner Jessica Janoski write-in, if any write-in, if any write-in, if any write-in, if any SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 42 Official Ballot General Election Ballot City of St Louis Park November 5, 2019 Judge _________ Judge _________ City Offices ST LOUIS PARK W-4 P-16 2865 Typ:01 Seq:0098 Spl:01 Vote front and back of ballot Continue voting on the school district ballot. Ranked Choice Voting Instructions to the Voters: • Vote from left to right in each office. Your first choice is the candidate you would most like to see elected. • You are allowed to rank up to three (3) candidates for each office. • Completely fill in the oval(s) next to your choice(s) like this: () Candidate Name Fill in the oval(s) completely.→ No more than one oval in a column.→ City Offices Mayor Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Mayor1st Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any 2 2nd Choice Mayor2nd Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any 3 3rd Choice Mayor3rd Choice, if any. Select One Yvette Baudelaire Jake Spano write-in, if any City Offices Council Member At Large A Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large A1st Choice, if any. Select One Deb Brinkman Steve Hallfin Larry Kraft write-in, if any 2 2nd Choice Council Member At Large A2nd Choice, if any. Select One Deb Brinkman Steve Hallfin Larry Kraft write-in, if any 3 3rd Choice Council Member At Large A3rd Choice, if any. Select One Deb Brinkman Steve Hallfin Larry Kraft write-in, if any City Offices Council Member At Large B Rank your first, second and third choice candidates in the columns below. One to be elected. 1 1st Choice Council Member At Large B1st Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 2 2nd Choice Council Member At Large B2nd Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 3 3rd Choice Council Member At Large B3rd Choice, if any. Select One Nadia Mohamed Joseph Israel write-in, if any 11 21 40 41 46 49 52 SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 43 Vote front and back of ballot General Election Ballot School District Ballot Independent School District No. 283 (St Louis Park) November 5, 2019 Instructions to Voters: To vote, completely fill in the oval(s) next to your choice(s) like this: ST LOUIS PARK W-4 P-16 2865 School District Offices School Board Member Independent School District No. 283 (St Louis Park) Vote for Up to Four Jim Leuthner Jessica Janoski Heather Wilsey C. Colin Cox Ken Morrison Laura McClendon Jim Beneke Kari Ross write-in, if any write-in, if any write-in, if any write-in, if any SAMPLESpecial city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 44 Precinct Totals 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Voters Registered at 7AM 2597 3127 1295 1085 1543 2652 2612 2129 1777 1832 1544 2687 1780 2830 1885 1654 33029 Registered on Election Day 19 12 11 5 9 24 5 8 16 8 6 37 4 25 4 6 199 Voter Reciepts 722 531 118 215 216 261 726 374 329 237 310 454 207 610 213 139 5662 Absentee 177 84 22 22 21 67 83 48 83 30 39 99 15 110 22 35 957 Absentee Turnout 20% 14% 16% 9% 9% 20% 10% 11% 20% 11% 11% 18% 7% 15% 9% 20% 17% Estimated Voters 899 615 140 237 237 328 809 422 412 267 349 553 222 720 235 174 6619 Total Turnout 34% 20% 11% 22% 15% 12% 31% 20% 23% 15% 23% 20% 12% 25% 12% 10% 20% Total 2City of St. Louis Park - November 5, 2019 Municipal General Election abstract Page 1 - Citywide Statistics Special city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 45 1st Choice Ward Precinct Jake Spano Yvette Baudelaire UWI overvote undervote Grand Total 1 1570 295 0 0 26 1891 1 745 143 0 0 11 899 2 525 79 0 0 11 615 3 107 33 0 0 0 140 4 193 40 0 0 4 237 2 1526 239 7 0 24 1796 5 189 42 2 0 4 237 6 272 52 0 0 4 328 7 711 86 4 0 8 809 8 354 59 1 0 8 422 3 1247 311 4 2 17 1581 9 342 64 2 2 2 412 10 201 64 0 0 2 267 11 278 68 1 0 2 349 12 426 115 1 0 11 553 4 1099 237 6 0 9 1351 13 174 44 1 0 3 222 14 603 110 3 0 4 720 15 189 44 1 0 1 235 16 133 39 1 0 1 174 Grand Total 5442 1082 17 2 76 6619 2nd Choice Ward Precinct Jake Spano Yvette Baudelaire UWI overvote undervote Grand Total 1 345 349 20 0 1177 1891 1 196 152 8 0 543 899 2 84 119 6 0 406 615 3 31 30 2 0 77 140 4 34 48 4 0 151 237 2 290 342 21 0 1143 1796 5 35 52 2 0 148 237 6 56 88 3 0 181 328 7 123 120 12 0 554 809 8 76 82 4 0 260 422 3 296 325 14 1 945 1581 9 79 87 2 1 243 412 10 55 51 5 0 156 267 11 47 65 6 0 231 349 12 115 122 1 0 315 553 4 243 280 12 0 816 1351 13 47 57 3 0 115 222 14 111 132 4 0 473 720 15 39 47 2 0 147 235 16 46 44 3 0 81 174 Grand Total 1174 1296 67 1 4081 6619 City of St. Louis Park - November 5, 2019 Municipal General Election Abstract Page 2 - Precinct level results (Mayor) Special city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 46 3rd Choice Ward Precinct Jake Spano Yvette Baudelaire UWI overvote undervote Grand Total 1 237 69 18 0 1567 1891 1 144 38 8 0 709 899 2 50 13 7 0 545 615 3 21 10 0 0 109 140 4 22 8 3 0 204 237 2 203 63 14 0 1516 1796 5 24 16 0 0 197 237 6 41 14 3 0 270 328 7 85 16 7 0 701 809 8 53 17 4 0 348 422 3 229 92 12 0 1248 1581 9 59 23 2 0 328 412 10 45 18 3 0 201 267 11 38 14 5 0 292 349 12 87 37 2 0 427 553 4 161 72 20 1 1097 1351 13 38 16 5 0 163 222 14 71 28 7 0 614 720 15 21 13 2 0 199 235 16 31 15 6 1 121 174 Grand Total 830 296 64 1 5428 6619 Page 3 - Precinct level results (Mayor) City of St. Louis Park - November 5, 2019 Municipal General Election Abstract Special city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 47 1st Choice Ward Precinct Deb Brinkman Larry Kraft Steve Hallfin UWI overvote undervote Grand Total 1 493 868 425 5 0 100 1891 1 201 428 214 2 0 54 899 2 179 273 135 1 0 27 615 3 57 43 33 1 0 6 140 4 56 124 43 1 0 13 237 2 514 748 437 4 2 91 1796 5 71 85 64 1 1 15 237 6 106 135 71 0 0 16 328 7 189 379 203 3 1 34 809 8 148 149 99 0 0 26 422 3 555 604 331 3 0 88 1581 9 150 149 102 0 0 11 412 10 87 103 50 1 0 26 267 11 113 141 72 1 0 22 349 12 205 211 107 1 0 29 553 4 444 532 314 3 0 58 1351 13 75 70 67 0 0 10 222 14 204 318 168 2 0 28 720 15 85 87 52 0 0 11 235 16 80 57 27 1 0 9 174 Grand Total 2006 2752 1507 15 2 337 6619 2nd Choice Ward Precinct Deb Brinkman Larry Kraft Steve Hallfin UWI overvote undervote Grand Total 1 541 429 343 5 1 572 1891 1 249 206 165 4 0 275 899 2 175 142 115 1 1 181 615 3 42 40 27 0 0 31 140 4 75 41 36 0 0 85 237 2 491 404 369 2 1 529 1796 5 65 57 39 0 0 76 237 6 92 89 59 0 0 88 328 7 221 171 170 1 1 245 809 8 113 87 101 1 0 120 422 3 389 337 317 6 1 531 1581 9 104 81 102 1 1 123 412 10 62 55 51 1 0 98 267 11 77 77 67 4 0 124 349 12 146 124 97 0 0 186 553 4 368 309 288 4 1 381 1351 13 69 43 49 1 0 60 222 14 187 150 159 1 1 222 720 15 61 70 45 0 0 59 235 16 51 46 35 2 0 40 174 Grand Total 1789 1479 1317 17 4 2013 6619 City of St. Louis Park - November 5, 2019 Municipal General Election Abstract Page 4 - Precinct level results (Council member at large A) Special city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 48 3rd Choice Ward Precinct Deb Brinkman Larry Kraft Steve Hallfin UWI overvote undervote Grand Total 1 268 229 385 6 1 1002 1891 1 128 111 178 4 0 478 899 2 92 75 123 1 1 323 615 3 18 25 43 0 0 54 140 4 30 18 41 1 0 147 237 2 243 234 366 5 2 946 1796 5 25 33 54 0 0 125 237 6 43 50 81 0 1 153 328 7 117 88 153 3 1 447 809 8 58 63 78 2 0 221 422 3 236 216 284 8 0 837 1581 9 71 52 87 3 0 199 412 10 42 38 47 1 0 139 267 11 39 48 52 4 0 206 349 12 84 78 98 0 0 293 553 4 216 205 301 5 0 624 1351 13 32 44 52 1 0 93 222 14 123 101 146 2 0 348 720 15 32 35 48 0 0 120 235 16 29 25 55 2 0 63 174 Grand Total 963 884 1336 24 3 3409 6619 City of St. Louis Park - November 5, 2019 Municipal General Election Abstract Page 5 - Precinct level results (Council member At Large A) Special city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 49 1st Choice Ward Precinct Joseph Israel Nadia Mohamed UWI overvote undervote Grand Total 1 736 1068 10 1 76 1891 1 404 452 2 0 41 899 2 200 387 6 0 22 615 3 56 79 0 1 4 140 4 76 150 2 0 9 237 2 533 1162 4 0 97 1796 5 80 145 1 0 11 237 6 104 207 0 0 17 328 7 218 545 1 0 45 809 8 131 265 2 0 24 422 3 567 943 3 0 68 1581 9 165 230 2 0 15 412 10 83 179 0 0 5 267 11 122 212 0 0 15 349 12 197 322 1 0 33 553 4 460 829 5 1 56 1351 13 77 132 1 0 12 222 14 217 467 4 0 32 720 15 97 130 0 1 7 235 16 69 100 0 0 5 174 Grand Total 2296 4002 22 2 297 6619 2nd Choice Ward Precinct Joseph Israel Nadia Mohamed undervote UWI Grand Total 1 421 226 1231 13 1891 1 223 99 572 5 899 2 121 80 412 2 615 3 41 18 78 3 140 4 36 29 169 3 237 2 379 243 1160 14 1796 5 55 29 151 2 237 6 86 55 184 3 328 7 147 96 558 8 809 8 91 63 267 1 422 3 344 249 975 13 1581 9 92 65 253 2 412 10 56 57 151 3 267 11 78 29 237 5 349 12 118 98 334 3 553 4 346 185 809 11 1351 13 54 44 120 4 222 14 171 79 465 5 720 15 57 30 148 235 16 64 32 76 2 174 Grand Total 1490 903 4175 51 6619 City of St. Louis Park - November 5, 2019 Municipal General Election Abstract Page 6 - Precinct level results (Council member at large B) Special city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 50 3rd Choice Ward Precinct Joseph Israel Nadia Mohamed undervote UWI Grand Total 1 176 113 1591 11 1891 1 115 56 723 5 899 2 33 29 549 4 615 3 16 13 111 140 4 12 15 208 2 237 2 102 117 1570 7 1796 5 20 11 206 237 6 21 26 279 2 328 7 35 47 723 4 809 8 26 33 362 1 422 3 143 153 1279 6 1581 9 47 32 333 412 10 24 42 199 2 267 11 28 18 302 1 349 12 44 61 445 3 553 4 104 101 1132 14 1351 13 25 27 166 4 222 14 40 43 631 6 720 15 17 12 204 2 235 16 22 19 131 2 174 Grand Total 525 484 5572 38 6619 City of St. Louis Park - November 5, 2019 Municipal General Election Abstract Page 7 - Precinct level results (Council member at large B) Special city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 51 2019 Municipal Election Results Round by round graphs Special city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 52 0 1000 2000 3000 4000 5000 6000 overvote undervote UWI Totally Blank Partially Defective Jake Spano Yvette Baudelaire First Choice First Choice 2019 Mayor round 1 results Special city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 53 0 500 1000 1500 2000 2500 3000 3500 undervote UWI Totally Blank Partially Defective Deb Brinkman Steve Hallfin Larry Kraft undervote UWI Totally Blank Partially Defective Deb Brinkman Steve Hallfin Larry Kraft 2019 Council at large A round 1 results Special city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 54 0 500 1000 1500 2000 2500 3000 3500 Totally Blank Partially Defective Deb Brinkman Steve Hallfin Larry Kraft Exhausted First Choice Second Choice Third Choice Exausted 2019 Council at large A round 2 results Exhausted Special city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 55 0 500 1000 1500 2000 2500 3000 3500 Exausted Totally Blank Partially Defective Deb Brinkman Larry Kraft First Choice Second Choice Third Choice Exausted 2019 Council at large A round 3 results Exhausted Exhausted Special city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 56 0 500 1000 1500 2000 2500 3000 3500 4000 4500 overvote undervote UWI Totally Blank Partially Defective Nadia Mohamed Joseph Israel First Choice First Choice 2019 Council at large B round 1 results Special city council meeting of November 12, 2019 (Item No. 2a) Title: Canvass results of Municipal General Election held on November 5, 2019 Page 57 Meeting: Study session Meeting date: November 12, 2019 Discussion item: 1 Executive summary Title: Future study session agenda planning and prioritization Recommended action: The city council and city manager to set the agenda for the special study session scheduled for Nov. 18, 2019 and the regularly scheduled study session on Nov. 25, 2019. Policy consideration: Not applicable. Summary: This report summarizes the proposed agenda for the special study session scheduled for Nov. 18, 2019 and the regularly scheduled study session on Nov. 25, 2019. Also attached to this report is: - Study session discussion topics and timeline -Proposed topics for future study session discussion: o Changes to sign ordinance – proposed by Councilmember Rog o PLACES (Art at SWLRT) funding request for 2020 – proposed by Councilmember Brausen Financial or budget considerations: Not applicable. Strategic priority consideration: Not applicable. Supporting documents: Tentative agenda – Nov. 18 and 25, 2019 Study session discussion topics and timeline Study session topics proposed for future study session discussion Prepared by: Debbie Fischer, administrative services office assistant Approved by: Tom Harmening, city manager Study session meeting of November 12, 2019 (Item No. 1) Page 2 Title: Future study session agenda planning and prioritization Nov. 18, 2019. 5:45 p.m. or Immediately following the city council meeting (TBD) Special study session – Community room Tentative discussion items 1.Via PLACE update – Community development (45 minutes) PLACE will be providing a verbal update on the status both the Via Luna and Via Sol projects. Nov. 25, 2019. 6:30 p.m. Study session – Community room Tentative discussion items 1.Future study session agenda planning 2.Council communication discussion with Scott Morrell – Administrative services (120 minutes) Scott Morrell, consultant, will facilitate a discussion with council on communication. Communications/meeting check-in – Administrative services (5 minutes) Time for communications between staff and council will be set aside on every study session agenda for the purposes of information sharing. Written reports 3.Community survey 4.Snow policy update Study session meeting of November 12, 2019 (Item No. 1) Page 3 Title: Future study session agenda planning and prioritization Study session discussion topics and timeline Priority Discussion topic Comments Timeline 1 Discuss public process expectations and outcomes Staff is working on the approach for undertaking this discussion. Jan. 27, 2020 2 Prioritizing transit options thru investments, and engineering and operations decisions SS discussion 10/21/19. Next steps: staff reach out to Metro Transit, bench company, and Met Council rep. TBD 3 Easy access to nature, across city, starting w/ low-income neighborhoods TBD 4 Westwood Hills Nature Center Access Fund *On hold pending direction from school district.*On hold 5 Election holiday discussion Dec. 9, 2019 6 SEED’s community green- house/resilient cities initiative *On hold until Food Access and Security study is complete, and recommendations have been made.*On hold 7 Community and neighborhood sidewalk designations 4th Qtr. 8 Revisit housing setback, FRA, and more to maintain and create more affordable housing TBD 9 Quarterly public forums at city council meetings SS discussion on 9/23/2019. December 2019 Accessory dwelling units/ home-based businesses SS discussion 6/10/2019. Referred to planning commission. Staff to prepare ADU ordinance for pc discussion Qtr. 3 2019. Home occupation-based businesses pc discussion Qtr. 4 2019 or Qtr. 1 2020 Qtr. 4 2019 and Qtr. 2 2020 Revitalization of Walker Lake area Part of preserving Walker building reports: 8/28/17, 9/25/17, 1/22/18, design study 2/12/18, update 4/23/18, design study updates 8/27/18; SS report 2/11/19; SS discussion 5/28/19, planning commission to review ordinances for implementation Qtr. 3 & 4 2019; construction of phase 1 completed Qtr. 4 2019 Crime free ordinance/ affordable housing strategies Discussed 5/14/18. 1st reading housing trust fund 10/1/18; Other affordable housing strategies/Crime Free Ordinance – Nov/Dec, 12/10 and 12/17/18 and 1/14/19 council discussion; Certain provisions of crime free ord. suspended; Work group being formed; CFO work group discussed on 3/25/19; Work group had 1st meeting in May, two meetings in June, one in July and August. Upcoming meetings on Sept 26, Oct 9, Oct 30. In process - Pending workgroup recommend- ation Immigration and supporting families Discussed 8/6 and referred to HRC. HRC held comm. mtg. in Oct. Council/HRC discussion on 12/10; referred back to HRC for refinement of recommendations TBD STEP discussion: facilities Discussed on 1/14/19; city, STEP & school toured Central Community Ctr and continuing discussions TBD Study session meeting of November 12, 2019 (Item No. 1) Page 4 Title: Future study session agenda planning and prioritization Study session meeting of November 12, 2019 (Item No. 1) Page 5 Title: Future study session agenda planning and prioritization Meeting: Study session Meeting date: November 12, 2019 Discussion item: 2 Executive summary Title: 2020 budget and capital improvement plan update Recommended action: No formal action required. This report is to update the council with 2020 levy information and various other budget related items. Policy consideration: •Does the City Council desire to set the 2020 final property tax levy at $34,620,521 which is an increase of approximately 4.50% over the 2019 final property tax levy? •Is Council in agreement with the HRA levy proposed budget? •Is there other information needed on the infrastructure updates? Summary: In September, council approved a preliminary property tax levy which was 5.61% higher than the final 2019 levy. Subsequently, staff worked to incorporate revenue adjustments and expenditure assumptions, where appropriate, which resulted in bringing the necessary levy increase down to approximately 4.50%. Financial or budget considerations: Details regarding budget considerations are provided in this report. Strategic priority consideration: All areas of the adopted strategic priorities are impacted by the city’s budget. •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. •St. Louis Park is committed to continue to lead in environmental stewardship. •St. Louis Park is committed to providing a broad range of housing and neighborhood- oriented development. •St. Louis Park is committed to providing a variety of options for people to make their way around the city comfortably, safely and reliably. •St. Louis Park is committed to creating opportunities to build social capital through community engagement. Supporting documents: Discussion October 14 2020 CIP and LRFMP Pavement management updated LRFMP Alley and parking lot maps Estimated tax and utility rate summary 2020-2029 draft capital improvement plan Property tax process video Prepared by: Tim Simon, chief financial officer Reviewed by: Nancy Deno, deputy city manager/HR director Approved by: Tom Harmening, city manager Study session meeting of November 12, 2019 (Item No. 2) Page 2 Title: 2020 budget and capital improvement plan update Discussion Background: The 2020 budget was developed with the City Council’s strategic goals, Vision 3.0, and the comprehensive plan in mind. This is in addition to the need to maintain our infrastructure (city roads, parks, buildings, etc.), technology, debt service, and quality service to the residents. On September 16th, the City Council adopted the 2020 preliminary property tax levy of $34,985,521, which was approximately 5.61% over the 2019 final property tax levy. Through continued work and review of funds, staff has been able to lower the levy increase to 4.50% Updated information on the 2020 recommended budget: Since September 16th, staff has reviewed a number of revenue and expenditure adjustments to ensure that estimates and assumptions were still reasonable for 2020. Some of the significant items in reducing the preliminary levy are: 1)Expenditure line items – Staff has continued to review and fine tune our cost estimates on a number of expenditures and was able to adjust, as appropriate. 2)Personnel – Department directors refined overtime and temporary salary needs and adjusted as necessary. In addition, we moved the Local 49ers trainee program out of the 2020 budget and will bring it back for consideration in the 2021 budget. Budget adjustments for staffing for the Nature Center were also made given that its opening later than first anticipated. 3)Revenues line items – Our Police State Aid amount has been trending upward and we increased the revenue line item to match historical actuals. 4)Other items – We identified some one-time 2020 items in the budget we could purchase in 2019 or hold in assigned fund balance at year-end. In addition, we adjusted the timing of when the recruitment process would end for filling the new positions. The proposed breakdown of the 4.50% proposed property tax levy by fund is shown below: 2019 2020 $ Change % Change Final Levy Proposed 2019 to 2020 2019 to 2020 TAX CAPACITY BASED TAX LEVY General Fund 26,880,004$ 27,448,379$ 568,375$ 2.11% Environment and Sustainability (1)- 497,343 497,343 Race Equity and Inclusion (1)- 298,006 298,006 Park Improvement Fund 810,000 860,000 50,000 6.17% Capital Replacement Fund 1,767,700 1,567,700 (200,000) -11.31% Debt Service-current 3,420,557 3,799,093 378,536 11.07% Employee Benefit Fund 150,000 150,000 - 0.00% Housing Rehabilitation Fund 100,000 - (100,000) -100.00% 33,128,261$ 34,620,521$ 1,492,260$ 4.50% 1= Line items are part of the General Fund levy, separated so council can see investment in strategic priorities. Additional tax levy information By law, the City Council approved 2020 preliminary property tax levies back in September and those preliminary levies have been sent to Hennepin County for certification. Hennepin County will mail out parcel specific notices to taxpayers in mid-November. Final action on the 2020 budget, 2020 final city property tax levy, final 2020 HRA Levy, and 2020 – 2029 CIP will not occur until December 16. Study session meeting of November 12, 2019 (Item No. 2) Page 3 Title: 2020 budget and capital improvement plan update Other related items Estimated City Impacts for 2020 – examples on median value home City Tax Levy Based on a 5.61% levy increase (preliminary levy) on a median value residential homestead property that increased in value from $275,100 to $297,900, the city’s portion of the property taxes were estimated to increase by about $73.80 in 2020, or $6.15/month. Based on a 4.50% levy increase on a median value residential homestead property that increased in value from $275,100 to $297,900, the city’s portion of the property taxes are estimated to increase by about $59.75 in 2020 or $4.98/month. Please see the attachment for a combined 2020 impact given changes to the property taxes, utility rates and franchise fees for a median value residential home. Franchise Fee – Pavement Management - - Funds are used for pavement rehabilitation within the city. The revenue sources for this fund are Center Point and Xcel franchise fees charged to customers within the City. Currently, the amount is $5.50/month per utility for a residential home. Staff reviewed the long-range financial management plan with Council on October 14 and at that time mentioned the need for short-term additional funding due to rather significant price increases being experienced in the bidding environment. The Engineering Director has reviewed the 10-year CIP and recommends moving the 2021 commercial street rehab project to 2022. The remaining funding gap will be filled by bonding (2020) in the amount of approximately $1,750,000 and repaid with future franchise fees. To fully fund the 10-year CIP, it is recommended that the franchise fees continue as planned and increased every other year, with the next increase of $1.50 in 2021 to $7.00 and another $1.50 in 2023 to $8.50 and no other planned increases at this time after that. This assumes no additions to projects being paid for using these funds or unexpected increases to project costs. Staff continues to look at ways to reduce but not eliminate the bonding need completely for 2020 such as: • value engineering the projects included in 2020 • possible equity transfer from the general fund in 2020 Study session meeting of November 12, 2019 (Item No. 2) Page 4 Title: 2020 budget and capital improvement plan update Assessment policy – follow-up – During the October 14 CIP discussion, the city council had questions regarding the city’s assessment policy as it relates to municipal parking lots and alleys. The City’s assessment policy was updated in 2016; the previous policy had been in place since 2000. The following improvement areas are ones that were discussed as a part of the update and policy direction given to staff by council is listed below. Each improvement type was paid for using special assessments under the 2000 assessment policy. For reference, the reports for each meeting are linked. Topic Date discussed Meeting type Assessment Paving, curb and gutter November 9, 2015 Study session None Alley paving November 23, 2015 Study session None Sidewalks January 19, 2016 Special study session None Street lighting January 19, 2016 Special study session None Unimproved street maintenance January 19, 2016 Special study session None Administrative items: storm sewer, sanitary sewer mains and services watermain and services fire sprinkler systems delinquent charges (nuisances, tree removal, weed removal, curb / gutter repair and responding to fire alarms) March 28, 2016 Study session Property owner initiated/request or unpaid bills that are certified Municipal parking lots May 9, 2016 Study session 100% assessed Financial – city council discussion on June 13, 2016 Study session Draft policy – city council discussion on July 18, 2016 Special study session Assessment policy approval on August 1, 2016 City council Study session meeting of November 12, 2019 (Item No. 2) Page 5 Title: 2020 budget and capital improvement plan update Parking lots: The city owns and operates 10 municipal parking lots. These lots are located throughout the city and are not adjacent to city buildings. Their primary use is for park and ride or private property parking. Annual and seasonal maintenance is performed by the Operations and Recreation department. Below is a list of the municipal lots. Attached is a map showing the locations of each lot, a site plan for each lot, and the properties that were assessed when these lots were first built. Parking Lot Name Address Year Built Rating 27th Street & Louisiana Ave 2701 Louisiana Ave 1967 Poor 36th Street & Wooddale Ave* 3575 Wooddale Ave 1976 Poor Alabama Ave & Excelsior Blvd 6000 Excelsior Blvd 1973 Poor Bohn Welding Lot 6570 Lake Street 1972 Poor Lake Street Alley Parking Lot Behind 6400-6600 Lake Street 1972 Fair Georgia Avenue Lot 6470 Lake Street 1972 Fair Gorham Lot 3301 Gorham Ave 1964 Poor Louisiana park & ride (North) 7201 Minnetonka Blvd 1983 Poor Louisiana park & ride (South) 3016 Louisiana Ave S 1983 Poor Lake Street & Walker Street 6534 Lake Street 1963 Poor * Staff does not recommend the reconstruction of the 36th and Wooddale lot as it is adjacent to the Wooddale LRT station, and is proposed to be redeveloped. Some background on these lots: 1. These lots were constructed 40- 50 years ago. 2. The construction costs for all the lots, except for the Louisiana Park and Ride (N & S) lots, were paid for by assessments to adjacent property owners. 3. The Louisiana park and ride (N & S) lots are mainly used by transit users. It is staff’s opinion that there is not a nearby property owner that would benefit from the parking provided at this location. 4. There is no formal agreement between the property owners and the city for the use of these lots to meet code parking requirements. However, when there is a change to a tenant or land use at one of the buildings that were originally assessed for lot construction, zoning staff credits that property the number of stalls for which they paid an assessment. 5. It has been the city’s past practice to not reserve parking spaces in these lots. What this means is that while we may have assessed property owner X for 10 stalls, we do not assign 10 stalls to property owner X for their exclusive use. 6. The pavement condition for most of these lots is poor and they need reconstruction. 7. The 2016 estimate to reconstruct these lots was $1,504,242. Staff does not recommend the reconstruction of the 36th St & Wooddale Ave lot. This reduces the estimated total Study session meeting of November 12, 2019 (Item No. 2) Page 6 Title: 2020 budget and capital improvement plan update reconstruction cost to $1,125,193 (costs have not been adjusted for inflation from 2016.) In order to move forward with each project, the following is the process the council approved: • The City Council will order a Feasibility Report for each lot. This would happen the year before proposed reconstruction. • Complete a parking study to determine which properties have customers or employees that are using the lot. • Complete a land use review to determine parking ratios required by City Code. Determine if the property has adequate private parking. • Using this information, determine the number of stalls to assign to each property use to meet the City Code parking requirements. • Work with property owners surrounding the lots to discuss the projects and proposed assessments. • Provide a recommendation to the City Council on the project. Recommendations may include moving ahead with reconstruction or elimination of the parking lot. Alleys: There are 21.25 miles of alleys throughout the city. In 2016, only 16 miles of alleys had a concrete surface and met the minimum standard for an improved alley. 5.2 miles of these alleys were unimproved. Of the unimproved alleys, 2.36 miles were asphalt and 2.85 miles were gravel. In 2000 the policy was to assess 100% of the cost of alley reconstruction and repair to the benefiting properties. Based on council direction in 2016, staff developed a plan that will reconstruct these alleys over 10 years, between 2017 and 2026 utilizing no assessments. This represents approximately one-half mile a year. Attached is a map showing the programmed CIP and the progress of this initiative. To date we have reconstructed 1.64 miles of alley (0.76 miles asphalt and 0.88 miles of gravel) In addition to no longer assessing benefitting property owners for reconstructing unimproved alleys, the change in the assessment policy also means that major alley repairs are not assessed. We have completed major repairs to existing concrete alleys since 2017 using funds from the operations budget. There were questions at a previous meeting regarding the benefits of reconstructing unimproved alleys. Here are some examples: • Elimination of erosion of gravel into the storm sewer and tracking of gravel onto streets. • Address flooding of private property, by creating proper alley drainage using the city storm sewer system. • The unimproved alleys are being constructed to withstand solid waste vehicle and property owner use year-round. Solid waste vehicles can destroy the gravel and asphalt alleys during spring load restrictions. Constructing the alleys in concrete eliminates seasonal maintenance work. (i.e. regrading gravel alleys in the spring, adding gravel to gravel alleys, pot hole patching) • It is easier to remove snow from paved alleys. There is less damage to the alley and private property during early winter or late spring plowing events. • Customer satisfaction/ elimination of complaints. Study session meeting of November 12, 2019 (Item No. 2) Page 7 Title: 2020 budget and capital improvement plan update Municipal State-aid (MSA) – The city receives an annual allocation from the state (gas tax) in the form of municipal construction funds for our state-aid eligible roads. These roads are a collection of higher volume roads that are used not only by our residents and businesses, but by many others to travel thru St. Louis Park. The amount of construction aid for 2019 was $1,401,008. Our 10-year CIP has $23 million in state-aid funded projects with an additional $30 million in work not programmed. As we reviewed on October 14th, we can issue state-aid bonds to finance the CIP through 2029, but that will use up most of our state-aid allotment capacity. Our MSA overall average pavement condition index (PCI) at the end of our 10-year CIP (2029) will be 58. Our goal for PCI is 70. Assuming we continue to receive the (gas tax) in the future years, we would not have adequate funding to pursue additional MSA projects until 2036. If we don’t find another funding source to pay for the work not programmed, the average PCI is projected to be 41 in 2036. Council consensus was to study a Local Option Sales Tax as a possible funding source – this would greatly benefit our MSA roads and allow us to continue to use our state-aid allocation for the MSA roads not funded by sales tax proceeds. Given the current timing, the 2020 projects more than likely will need to be funded through state-aid bonds; but after that we are not anticipating future bonding if the local option sales tax is approved. Local Option Sales Tax – Staff is conducting research on local option sales tax as an alternative source of revenue to pay for municipal state aid (MSA) street projects. Local governments, except for counties, are generally prohibited by statute from imposing sales taxes. Counties are allowed by statute to impose general sales taxes to fund transportation and transit. A local options sales tax for cities is available through special legislation. The law was modified significantly in 2019 to emphasize projects of regional significance. In order to implement a local options sales tax a city must determine up to five capital projects of regional significance including benefits to non-residents and businesses, propose a tax rate, determine the amount of revenue needed and provide the anticipated date of when the tax will expire. The city council must submit a resolution to the Senate and House Tax Committees by January 31, 2020 if it wants legislation introduced indicating its desire to impose the tax. During the legislative session, cities must work with legislators to pass special legislation authorizing the imposition of the tax. If approved, a voter-approved referendum at a general election would be required before the implementation of the tax. A separate vote on the ballot is required for each project that was granted legislative approval. If approved, the sales tax would be administered by the Minnesota Department of Revenue. The University of Minnesota is currently conducting a study on the amount of revenue that could be generated using a local options sales tax. The study will estimate sales tax proceeds from a local option tax program and what proportion of those dollars will likely be paid by year- round city residents versus nonresidents. The study is expected to be complete by December 2, 2019. If council agrees at that time to continue to move forward, a schedule will be planned accordingly. Study session meeting of November 12, 2019 (Item No. 2) Page 8 Title: 2020 budget and capital improvement plan update Housing related budgets – The city participates in, sponsors, supports, delivers programs and initiatives in a wide variety of housing related activities. A summary is provided of the various housing related budgets/programs and recommended funding sources for 2020: Housing Rehabilitation Fund Housing Trust Fund (New) Housing Authority Program Maintaining quality and diverse housing stock, affordable homeownership, rental assistance programs, promoting energy related improvements, providing emergency housing assistance. Includes housing staff salaries to administer housing programs. Single Family Rehab Programs • Discount rehab loans • Emergency repair grant • Remodeling/Rehab advisor • Architectural Design Service • Transformation loan • Deferred Loan Program • Housing Improvement Area • Home Remodeling Fair • Home Remodeling Tour Multi-Family Rental Rehab • Multi-family rehab loans • 4d incentive program Affordable Homeownership • 1st time homebuyer closing and down payment assistance deferred loan • Land banking • Inclusionary Housing Policy* Energy Programs • Home Energy Squad Visits • Rebates • Energy efficient appliance financing program • Grants Rental Assistance • Kids in the park • STEP emergency rental assistance • Inclusionary Housing Policy* Social Service contribution • STEP • Senior community services To support the preservation and production of affordable housing. The money in the housing trust fund may only be used to: 1) Make grants, loans, and loan guarantees for the development, rehabilitation, or financing of housing; 2) Match other funds from federal, state, or private resources for housing projects; and/or Provide down-payment assistance, rental assistance, and homebuyer counseling services. The Housing Authority oversees administration of federally funded housing programs and policies authorized by the city council. These programs include the Housing Choice Voucher (Section 8) program, Public Housing, and Community Development Block Grant funds. Includes staff salaries to administer the programs. 2020 Expenditure Budget $1,344,811, not including HIA TBD – policy discussion 12/9 $3,782,000 Funding Source Aquila, Park Center TIF, TIF admin used in conjunction with Trust Fund and a portion of HRA levy for direct housing salaries ($272,248) HRA levy allocation ($1,045,730), TIF Capture for Affordable Housing (TBD) Federal HUD funds *staffing costs associated with administering these programs Study session meeting of November 12, 2019 (Item No. 2) Page 9 Title: 2020 budget and capital improvement plan update HRA Levy – As previously discused, below is the proposed budget for the HRA levy allocating a transfer to the newly developed Housing Trust Fund and a transfer to the Housing Rehab fund. As noted in previous reports, salaries for housing staff have been funded by non-general fund revenues through the housing rehabilitation fund. By allocating a portion of the HRA levy it will provide a stable source of revenue for these direct expenditures. Also, if approved, next steps for a Housing Trust Fund is development of a policy on the program. 2020 proposed HRA levy 1,332,978$ Professional Services (15,000)$ No change from PY Interfund Loan -$ Done Housing staff salaries (272,248)$ Transfer - housing rehab fund Transfer out - housing trust fund (1,045,730)$ Transfer - housing trust fund Net -$ Next steps: As the 2020 budget process continues, the following preliminary schedule has been developed for Council: December 2 Truth in Taxation Public Hearing and budget presentation. December 9 (If needed) - Public Hearing continuation and any budget discussion. December 16 Council adopts 2019 Revised Budget, 2020 Budgets, final tax levies (City and HRA), and 2020 - 2029 CIP. Financial Management Plan Pavement Management Fund - Funds expenditures are used for pavement rehabilitation within the City. Franchise fee amount 4.00$ 5.50$ 7.00$ 8.50$ 8.50$ 8.50$ 8.50$ 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Actual Actual Actual Revised Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Revenues Franchise Fees 2,393,110 3,079,266 3,184,041 3,667,642 3,991,567 4,091,356 4,193,640 4,298,481 4,405,943 4,516,092 4,628,994 4,744,719 4,863,337 4,984,920 Additional Franchise Fees - - 808,000 808,000 1,616,000 1,616,000 1,616,000 1,616,000 1,616,000 1,616,000 1,616,000 Interest Income 20,678 23,818 25,663 247 30,786 60,521 84,988 100,805 Bond proceeds - - - - 1,750,000 - - - - - - - - - Interfund loan (PIR Fund)- - 1,200,000 - - - - - - - - - - Transfers In 450,000 400,000 275,000 - - - - - - - - - - - Total Revenues 2,863,788$ 3,503,084$ 3,484,704$ 4,867,889$ 5,741,567$ 4,899,356$ 5,001,640$ 5,914,481$ 6,021,943$ 6,132,092$ 6,275,780$ 6,421,240$ 6,564,325$ 6,701,725$ Expenditures Services & Other Charges 43,929 41,147 11,916 12,273 12,642 13,021 13,412 13,814 14,228 14,655 15,095 15,548 16,014 16,495 Debt Service - - - - - - - - - - - - - - Interfund loan repayments - - - - 140,000 136,000 132,000 128,000 124,000 120,000 116,000 112,000 108,000 104,000 Debt Service Pymts(2020 Issue-10yr)- - - - 186,500 186,500 186,500 186,500 186,500 186,500 186,500 186,500 186,500 Capital Outlay (Mod Approach)2,135,842 3,402,945 3,885,549 4,848,000 5,395,993 3,919,138 5,847,142 4,105,604 5,543,626 5,077,000 3,975,805 4,476,096 5,199,339 3,772,227 Transfers Out 551,810 1,050,224 304,256 - - - - - - - - - - - Total Expenditures 2,731,581$ 4,494,316$ 4,201,721$ 4,860,273$ 5,548,635$ 4,254,659$ 6,179,054$ 4,433,918$ 5,868,354$ 5,398,155$ 4,293,400$ 4,790,144$ 5,509,853$ 4,079,222$ Incr/(Decr) in Fund Balance 132,207$ (991,232)$ (717,017)$ 7,615$ 192,932$ 644,697$ (1,177,413)$ 1,480,563$ 153,589$ 733,937$ 1,982,380$ 1,631,096$ 1,054,471$ 2,622,504$ Fund Balance - Beginning 2,039,178$ 2,171,385$ 1,180,154$ 463,137$ 470,752$ 663,684$ 1,308,381$ 130,968$ 1,611,531$ 1,765,120$ 2,499,056$ 4,481,436$ 6,112,533$ 7,167,004$ Fund Balance - Ending 2,171,385$ 1,180,154$ 463,137$ 470,752$ 663,684$ 1,308,381$ 130,968$ 1,611,531$ 1,765,120$ 2,499,056$ 4,481,436$ 6,112,533$ 7,167,004$ 9,789,508$ Fund Balance Percentage 48.31%28.09%9.53%8.48%15.60%21.17%2.95%27.46%32.70%58.21%93.56%110.94%175.70% Cash Available at Year End 1,557,682$ 369,524$ 16,456$ 24,071$ 217,004$ 861,701$ (315,713)$ 1,164,851$ 1,318,439$ 2,052,376$ 4,034,756$ 5,665,852$ 6,720,324$ 9,342,827$ Cash Available Percentage 34.66%8.79%0.34%0.43%5.10%13.95%-7.12%19.85%24.42%47.80%84.23%102.83%164.75% Updated 11/4/2019 Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 10 £¤ ?A@ £¤ £¤\]^ \]^ ?A@ \]^ ?A@ GWX GWX GWX ?A@ GWX ?A@ GWX GWX GWX LYNN AVE SPENNSYLVANIA AVE STEXAS AVE SMINNETONKA BLVD 36TH ST W M O N T E R E Y D R 16TH ST WPARK P LACE B LVD NATCHEZ AVE SVERNON AVE SBELTLINE BLVDUTICA AVE S32ND ST W WAYZATA BLVD FRANKLIN AVE W PARK CENTER BLVDALABAMA AVE S16TH ST W SERVICE D R H I G H W A Y 7 GAMBLE DR LOUISIANA AVE SWAYZATA BLVD CAMBRIDGE ST WOLF E P K W YQUENTIN AVE SMONTEREY AVE SQUEBEC AVE SM E A D O W B R O O K B L V D ZARTHAN AVE SZARTHAN AVE SCED A R L A K E R D COOLIDGE AVE SPARK PLACE BLVDBROWNDALE AVE SBROOK AVE SMACKEY AVE S31ST ST W MORNINGSIDE RDTOLEDO AVE SPARKDALE D R PARK C O M M O N S D R 42ND ST W 22ND S T W XENWOOD AVE SLAKE ST WVIRGINIA AVE SXENWOOD AVE S14TH ST W 25TH ST W PENNSYLVANIA AVE SFRANCE AVE SGLENHURST AVE S16TH ST W XENWOOD AVE SOXFOR D S T PARKLANDS RDFORE S T R D AQUILA AVE SDAKOTA AVE SCEDAR LAKE R D YOSEMITE AVE S41ST S T WCOLORADO AVE SUTAH AVE SIDAHO AVE SWO O D D A L E A V E JOPPA AVE S36TH ST W 25TH ST W 35TH ST W CED A R W O O D R D BOONE AVE SMEADOWBROOK RDCLUB RD 41ST ST WFORD RD25TH ST W ZINRAN AVE S41ST ST W VICTORI A W A Y FRANCE AVE SOTTAWA AVE SUTAH DRKENTUCKY AVE SMINNETONKA BLVD KE N T U C K Y L N 27TH ST W 29TH ST WBURD PL16TH ST W 28TH ST W UTICA AVE S26TH ST W 34TH ST W SUNSET BLVD 36TH ST W LAKE S T W 34TH ST W QUEBEC AVE S 27TH ST W 33RD ST W 26TH ST W WYOMING AVE S31ST ST W LOUISIANA AVE SSUMTER AVE SBARRY STWESTWOOD H ILLS DR 35TH ST W 26TH ST W RANDALL A V E 16TH ST W 14TH ST W FLAG AVE S18TH ST W 40TH ST WVIRGINIA AVE S37TH ST W FRANKLIN AVE W RIDGE DR27TH ST W HAMILTON ST 22ND ST W DIVISION ST 24TH ST W 39TH ST W SERVICE DR H I G H W A Y 7 XENWOOD AVE S28TH ST W FLAG AVE STEXAS AVE S37TH ST W EDGEWOOD AVE S25 1/2 ST W BRUNSWICK AVE S31ST ST W 39TH S T W DAKOTA AVE SSERVIC E D R HI G H W A Y 7 BROOKSIDE AVE SHAMPSHIRE AVE SOTTAWA AVE S30 1/2 ST W 35TH ST WYUKON AVE SVALLAC H E R A V E 31S T S T W 39TH ST W 44TH ST W GOODRICH AVECOLORADO AVE SWALKER ST VERMONT ST OXFORD ST18TH ST W34TH ST W SERVICE D R H I G H W A Y 7XYLON AVE SZARTHAN AVE S37TH ST W INGLEWOOD AVE SKIPLING AVE S13TH LN W PRIVATE RD 36 1/2 ST WJORDAN AVE S18T H S T W AQUILA LN SDAKOTA AVE SBRUNSWICK AVE SWESTSIDE DR HUNTINGTON AVE S23RD ST W UTAH AVE SLI B R A R Y L N LYNN AVE SR E P U B L I C A V EKENTUCKY AVE SFORD RD B R O W N L O W A V E 34 1/2 ST W BASSWOOD RD FORD LN WE S T M O R E L A N D L N GORHAM AVE WALKE R STVIRG IN IA AVE S 31ST ST W QUENTIN AVE SJERSEY AVE SAQUILA AVE S36TH ST WHILLSBORO AVE SQUEBEC AVE SBOONE A V E S ZINRAN AVE SINGLEWOOD AVE SOREGON AVE SMARYLAND AVE SNEVADA AVE SALLEYNEVADA AVE SOREGON AVE SBLACKSTONE AVE SJOPPA AVE SEDGEWOOD AVE SRHODE ISLAND AVE SPENNSYLVANIA AVE SFLORIDA AVE SAQUILA AVE SHAMPSHIRE AVE SKIPLING AVE SJERSEY AVE SGEORGIA AVE SIDAHO AVE SALABAMA AVE SSALEM AVE SSUMTER AVE SYOSEMITE AVE SPRINCETON AVE SRALEIGH AVE SQUENTIN AVE SHUNTINGTON AVE SGLENHURST AVE SBRUNSWICK AVE SDAKOTA AVE SALABAMA AVE SWEBSTER AVE SUTAH AVE STOLEDO AVE SVERNON AVE SUTICA AVE SSALEM AVE SPAR K E R R D SALEM AVE S28TH ST W NEVADA AVE S22ND LN W NORTH S TFLAG AVE S23RD ST W ELIOT VI E W R D DECATUR LNYOSEMITE AVE SCOLORADO AVE SMELROSE AVE SWOODDALE AVE M O N I T O R S T 37TH ST W JOPPA AVE SCAVELL AVE SIDAHO AVE SNATCHEZ AVE S29TH ST W 14TH ST W OTTAWA AVE SFLAG AVE SUTAH AVE SWEBSTER AVE SCAVELL AVE S 26TH ST W COLORADO AVE SCEDA R L A K E R D ALABAMA AVE SHAMPSHIRE AVE SDUKE DR40TH L N W FRANKLI N A V E W SUMTER AVE SBOONE AVE SUTICA AVE S22ND ST W PARK W O O D S R DJORDAN AVE SVIRGINIA CIR S SHELARD PKWY STANLEN RD EDGEWOOD AVE SXYLON AVE SKILMER AVEPARK GL E N R D CEDARWOOD RD RALEIGH AVE S35TH ST W VIRGINIA CIR N POWEL L R D WEBSTER AVE SHIGHWAY 100 S28TH ST W 23RD ST W WAYZATA BLVD HOSPITAL SERVICE DR169 169 169 7 394 394 100 394 100 25 5 3 100 3 7 5 5 17 Completed 2018 Completed 2017 HANNAN LAKE VICTORIA LAKE WESTWOOD LAKE1 MINNEHAHA CREEK 2025 2024 2021 2020 2023 2022 Completed 2019 2026 2020 0 0.5 10.25 Miles ´ SLP Alley Rehab Legend Asphalt (8,407 ft. / 1.6 mi.) Concrete (93,493 ft. / 17.7 mi.) Gravel (10,401 ft. / 1.97 mi.) Alley Project Areas Waterbody Parks City Limits Date: 10/17/2019 Concrete Reconstruction Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 11 ")3 ")25 ")5 ¬«7 ¬«100 LYNNAVES29TH ST W 36 TH ST W LAKE S T W MON T E R E Y D R QUENTINAVESVERNONAVESUTICAAVESMINNETONKA BLVD WOODDALE AVE CEDAR LAKE AVE SERVICE DR H I G H W A Y 7 WOODDA L E AVEXENWOODAVES28TH ST W 33RD ST W W O L F E P K W Y MONTEREYAVESZARTHANAVES4 1 S T S T W WALKER ST JOPPA AVE SLAKE ST W 31ST ST W INGLEWOODAVE S WALKER ST TOLEDOAVESP A R K C O M M ON S D R 26TH ST W XENWOODAVESGOODRICH AVE W ALKERSTXENWOODAVESOXFOR D S T KIPLINGAVESRHODEISLANDAVES26TH ST W 33RD ST W 28TH ST W 27TH ST W 34TH ST W S UNSE T BLVD 31ST S T W 36TH ST W 35TH ST W MEADOWBROOK RD35TH ST W EDGEWOODAVESLI B R A R Y L N VICTORI A W A Y 36TH ST W 42ND ST W 39TH ST W 29TH ST W 27TH ST W UTICAAVESBRUNSWICKAVES31ST ST WSUMTERAVES 32ND ST W TAFTAVESVALLA C H E R A V E 32ND ST W 33RD ST W 40TH ST W NATCHEZAVES32ND ST W DIVISION ST 34TH ST W 32 1/2 ST W 37TH ST W 36 1/2 ST W R E P U B L I C A V E EDGE B R O O K D R 3 9 T H S T W DAKOTAAVESS E R V IC E DR H IG H W A Y 7 ALABAMAAVESOXFORD ST YOSEMITEAVES37TH ST WUTAHAVES INGLEWOODAVESSUMTERAVESJOPPAAVESFLORIDAAVESGEORGIAAVESHAMPSHIREAVESIDAHOAVESLOUISIANAAVESMEADOWBROOKLNYOSEMITEAVESXENWOODAVESB R O W N L O W A V E WEBSTERAVES36TH ST W WEBSTERAVESYOSEMITEAVES31ST ST WLYNNAVES SALEM AVESQUEBECAVESQUEBECAVESOREGONAVESNEVADAAVESEDGEWOODAVESPENNSYLVANIAAVESMARYLANDAVESSALEMAVESPRINCETONAVESRALEIGHAVESQUENTINAVESUTAHAVESP R I VAT E R D NORT H S T M O NIT O R STCAMBRIDGE ST 3 5 T H S T W 40TH L N W P A R K G L E N RDMEADOWBROOK BLVDRALEIGHAVESLOUIS I ANAAVESPARKCENTERBLVDKIPLINGAVESALABAMAAVESLOUISIANAAVESUTICAAVESI D A H O A V E S 2ND ST NWJOPPAAVESLYNN AVE SHUNTINGTON AVE SOTTAWAAVESQUEBECAVESS E R V I C E D R H IG H W A Y 7 PRIVATER D BRUNSWICKAVESZARTHANAVESBRUNSWICKAVESCOLORADOAVESALABAMAAVESJERSEYAVESKENTUCKYAVESALLEYBLACKSTONEAVESHUNTINGTONAVESPOW ELL RD 0 625 1,250 1,875 2,500Feet ² Municipal Parking Lots Legend 27th St. & Louisiana Ave. 36th St. & Wooddale Ave. Alabama Ave. & Excelsior Blvd. Bohn Welding / Lake St. Alley / Georgia Ave. Gorham Lot Lake St. W. and Walker St. Louisiana Ave. Park & Ride (N & S) City Limits Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 12 27TH ST W LOUISIANA CT KENTUCKYAVESLOUISIANAAVES2640 2641 27322733 2729 2640 27282728 2721 2716 2717 2722 2725 2725 2720 2717 2708 2709 2708 2713 2636 2733 2732 2729 2730 2740 2724 2722 2721 2717 2716 7217 2700 2701 7309 7203 2701 2700 2645 2635 2634 2631 2630 26492648 2645 2644 2625 2624 2632 2641 2633 2629 2624 2650 2644 2628 2750 2746 2747 2742 2741 2737 2737 2704 2748 2745 2740 27412711 27042704 2738 2712 72047300 2736 2713 2712 2705 0 50 100 150 200Feet Municipal Parking Lots Legend Municipal Parking Lots Assessed Parcels Parcels City Limits ± 27th St. & Louisiana Ave. 2631 Louisiana Ave. S. (6) 2641 Louisiana Ave. S. (10) 2645 Louisiana Ave. S. (8) Assessed Parcels(Including Number of Spaces) Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 13 ¬«7 37TH ST W 35TH ST W WO O D D A L E A V E ALABAMAAVESWOOD D A L E A V E 35TH ST W XENWOODAVES36TH ST W PRIVATE R DBRUNSWICKAVES YOSEMITEAVESWALKERSTW O O D D A L E A V E T O W B H W Y 7 E B H W Y 7 T O W O O D D A L E A V E PRIVATE R D S E R V IC E D R H IG H W A Y 7 W B H W Y 7 T O W O O D D A L E A V E W O O D D A L E A V E T O E B H W Y 75600 636357085718 6015 5655 6007 5684 6017 56305925 5691 5708 6005 6039 3506 5815 5912 6010 3520 3530 5725 3700 3701 6027 560557015727 5825 3630 3600 3700 5721 3601 3524 5707 5720 5724 3520 5802 58145816 3548 3548 3575 3565 0 75 150 225 300Feet Municipal Parking Lots Legend Municipal Parking Lots Assessed Parcels Parcels City Limits ± 36th St. & Wooddale Ave. 5802 36th St. W. (6) 5724 36th St. W. (10) 3601 Wooddale Ave. S. (44) 3565 Wooddale Ave. S. (13) Assessed Parcels(Including Number of Spaces) Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 14 ")3 ALABAMAAVESBROOKSIDEAVESALABAMAAVES40546111 6011 6112 6100 6100 3991 6002 3987 3985 5930 4046 5925 3990 3996 6006 59153986 5900 3985 3981 592239823977 39783975 3971 3980 6114 6001 5911 3961 3967 59123965 3977 39763966 39723973 3937 5916 0 40 80 120 160Feet Municipal Parking Lots Legend Municipal Parking Lots Assessed Parcels Parcels City Limits ± Alabama Ave. & Excelsior Blvd. 5922 Excelsior Blvd. (2) 5930 Excelsior Blvd. (4) 6001 Excelsior Blvd. (6) 6002 Excelsior Blvd. (8) Assessed Parcels(Including Number of Spaces) 6006 Excelsior Blvd. (4) Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 15 O A K L E A F D R WALK ER ST WALKER ST ID A H O A V E SR E P U B L I C A V E 1ST ST NWLI B R A R Y L N GORHAMAVEB R O W N L O W A V ELOUISIANAAVESLOUISIANAAVES LOUISIANAAVES2ND ST NW3260 3261 6714 3384 3381 3356 3355 7020 67267008 3361 3374 3330 3378 3370 3366 3362 3375 3340 33873363 3451 3370 33583325 6425 6425 3313 3340 3355 3305 3312 3328 3339 3337 33613357 3362 3333 33293320 3371 3361 3351 3358 3354 3280 3300 3401 3334 3343 3324 3300 3350 3320 3316 3340 3301 3312 3313 3337 3333 3312 3351 3500 3304 3338 3325 3321 3345 33303317 3341 3308 3304 3317 3337 3340 3326 3383 3379 3354 3343 3350 3309 3305 3286 3318 3301 3329 33053278 3336 3321 33323300 3313 3326 3346 3366 3297 3328 3338 3347 3346 3333 3308 3309 33163282 3322 3325 3324 3320 3501 7201 0 75 150 225 300Feet Municipal Parking Lots Legend Municipal Parking Lots Assessed Parcels Parcels City Limits ± Gorham Lot 3340 Gorham Ave. (17) 3360 Gorham Ave. (5) 3359 Gorham Ave. (2) 3304 Gorham Ave. (9) Assessed Parcels(Including Number of Spaces) 3316 Gorham Ave. (18) 3336 Gorham Ave. (24) 3359-61 Republic Ave. (6) 3305-25 Republic Ave. (6) Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 16 ")5MINNETONKA BLVD LOUISIANAAVESKENTUCKYAVESMARYLANDAVES3033 3032 303230323033 3041 30403040 30413043 3040 3025 3024 3021 3020 7312 2941 2940 2928 7200 3021 3022 3021 7320 3037 3036 303630393036 3029 3028 3025 3037 302973217307 7201 7119 7109 7101 2940 7301 7225 7221 7217 3016 7112 7100 3015 301630173017 3024 3028 2924 2936 7315 7213 2925 3028 3029 3025 7304 7124 7116 3020 3016 2937 0 40 80 120 160Feet Municipal Parking Lots Legend Municipal Parking Lots Assessed Parcels Parcels City Limits ± Louisiana Park & Ride (N & S) Not Assessed Assessed Parcels(Including Number of Spaces) Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 17 ¬«7 LAKE ST W LI B R A R Y L N WALKER ST B R O W N L O W A V E 650965157001 6416 7000 6900 6534 6714 6824 3384 650465126516 6530 65306726 3416 6500 6900 6818 3374 3378 68123393 6800 3375 3387 6804 3404 3390 3384 67003371 3383 3379 6525 0 40 80 120 160Feet Municipal Parking Lots Legend Municipal Parking Lots Assessed Parcels Parcels City Limits ± Lake St. and Walker St. 6516 - 24 Walker St. (5) 6804 Lake St. W. (4) 6812 Lake St. W. (15) 6818 Lake St. W. (2) Assessed Parcels(Including Number of Spaces) 6824 Lake St. W. (6) Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 18 2 h r p a r k i n g 2 h r p a r k i n gPermit Parking6600 Lake St. W. (Bohn Welding) Assessed only for Bohn Welding & Georgia Ave. Lots DAKOTAAVESLI B R A R Y L N 34T HST W G E O R G IA A V E S DAKOTAAVESWO O D D A L E A V E HAMILTON ST 6320 3353 630863126316 6610 3391 345664256425 6425 6700 6700 6500 63013377 63006320 63096317 3398 3424 6528 6418 3410 6401 3401 6304 3397 641466003385 33523381 63133455 6525 6520 6422 64160 50 100 150 200Feet Municipal Parking Lots Legend Municipal Parking Lots Assessed Parcels Parcels City Limits ± Bohn Welding/Lake St Alley/Georgia Ave 3410 Dakota Ave. S. (Unassigned) 6414 Lake St. W. (Unassigned) 6416 Lake St. W. (Unassigned) 6418 Lake St. W. (Unassigned) Assessed Parcels(Including Number of Spaces) 6422 Lake St. W. (Unassigned) 6500 Lake St. W. (Unassigned) 6520 Lake St. W. (Unassigned) 6528 Lake St. W. (Unassigned) 6600 Lake St. W. (Unassigned)(Georgia and Bohn) Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 19 Residential estimate city share of property taxes based on 4.50% levy increase Val.Taxable Taxable Estimated City Tax Dollar Dollar Percent 2018 For 2019 For %Market Market 2019 2020 Change Change Change Pay 2019 Pay 2020 Change Value 2019 Value 2020 Annual Per Month 225,200 241,900 7.4%208,228 226,431 930.88 971.80 40.91 3.41 4.4% 252,600 275,300 9.0%238,094 262,837 1,064.40 1,128.04 63.64 5.30 6.0% 275,100 297,900 8.3%262,619 287,471 1,174.04 1,233.77 59.73 4.98 5.1% 284,100 309,600 9.0%272,429 300,224 1,217.89 1,288.50 70.61 5.88 5.8% 366,700 382,500 4.3%362,463 379,685 1,620.39 1,629.53 9.14 0.76 0.6% Assumptions: 2019 and 2020 tax capacity rate based on Hennepin County information. Tax capacity rates increase from 1% to 1.25% for values over $500,000. = Median Value Home in St. Louis Park Assessed Market Val. Utility Rates-Water, Sewer, Storm Water, and Solid Waste Funds As previously reviewed and approved, the approximate cumulative effect on a typical residential property for all the utility rate adjustments would be an increase of $18.04/quarter, or approximately $6.01 per month. The calculation is based on a household using 30 units of water per quarter (22,500 gallons), a 20 unit winter sewer average and 60 gallon solid waste service. As you are aware, we have changes in both our solid waste and water programs to allow residents the opportunity to lower their own rates by conservation and reduction in their solid waste amounts. 2019 will provide us time to gather information on residents’ usage and program changes. Snapshot of all details listed above Levy Change 4.50% Percent change in value 8.30% Value change in dollars $22,800 Estimated change in city taxes 59.73$ Estimated change in utility rates (see above for assumptions)72.16$ Estimated change in franchise fee -$ Total per year 131.89$ Total per month 10.99$ Snapshot of impacts on median value home ($298,200) Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 20 Capital Improvement Program City of St. Louis Park, MN PROJECTS BY FUNDING SOURCE 2020 2029thru Total20202021202220232024Source20252026202720282029 #Priority BSM 250,000250,000Tennis Court Total Reconstruction - Aquila Park 21230301 n/a BSM Total 250,000250,000 Cable TV - Time Warner Equipment 20,00020,000Van Camera Cases 11151002 3 13,00013,000Van Camera Cables 11151003 3 10,00010,000Tripods for On Location 11151007 3 40,00040,000Council Chambers HD pan/tilt cameras 11172007 1 1,5001,500Tripods111910081 35,00035,000Replacement edit systems 11191009 1 140,000140,000Van Cameras 11201001 3 20,00020,000Van Camera Cases 11201002 3 13,00013,000Van Camera Cables 11201003 3 15,00015,000LCD monitors 11201004 3 2,5002,500Hard-Drive Video Recorder 11201008 1 12,00012,000Tripods for On Location 11201010 1 4,2004,200SD/HD converter 11201011 1 1,5001,500DVD recorder 11201013 1 28,20028,200Playback systems 11201014 1 7,0007,000Production switcher 11201015 1 Cable TV - Time Warner Equipment Grant Total 362,90051,400 1,500 7,000 33,000 270,000 Capital Replacement Fund 75,00025,000 25,000 25,000IR: PCI Re-Assessment / Training / Security 13125001 1 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 21 Total20202021202220232024Source20252026202720282029 #Priority 970,00097,000 97,000 97,000 97,000 97,000 97,000 97,000 97,000 97,000 97,000IR: Hosted / Managed Services / DR / BC 13135001 3 20,00020,000OR: AVL / GPS 13135004 3 290,000290,000Police: New CAD/RMS/Mobile Suite 13145010 3 500,00050,000 40,000 40,000 40,000 130,000 40,000 40,000 40,000 40,000 40,000Admin Serv:Document Mgmt System Maintenance 13155006 3 20,00020,000IR: MyStLouisPark CRM 13155007 1 150,000150,000IR: City Hall Council Chambers AV Upgrade 13155008 1 15,00015,000Eng: Survey GPS 13155016 3 30,00010,000 10,000 10,000Police: Zuercher Crime View Dashboard 13155020 3 110,00011,000 11,000 11,000 11,000 11,000 11,000 11,000 11,000 11,000 11,000IR: Website Maintenance 13165004 1 48,00016,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000Admin Serv: HR Time Management System 13165007 3 262,00064,000 22,000 22,000 22,000 22,000 22,000 22,000 22,000 22,000 22,000Insp / Comm Dev: Project Dox CD Use and Upgrade 13165009 3 25,00025,000Eng: GPS Base Station 13175001 3 8,0008,000Eng: Trimble R2 GPS Receiver 13175004 3 60,00030,000 30,000IR: Wireless Controller Expansion 13175006 1 200,000200,000Admin Serv: Financial / HR/Payroll App Replacement 13185001 1 35,00010,000 15,000 10,000Fire: Station Cameras / EOC in 2025 13185003 3 50,00050,000IR: Office 365 Project Implementation & Training 13185004 3 95,00095,000Insp: PIMS / PDS Upgrades 13185005 1 40,00020,000 20,000IR: Network Equipment Battery (UPS) Backup 13185009 1 50,00050,000Fire: 800 MHz Paging Upgrade 13205001 3 16,00016,000OR: Trimble R2 GPS Receivers (2)13215003 3 3,000,000300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000IR: On-going Software Licenses, Mtce, Development 13995001 1 1,250,000125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000IR: On-going Network Adds & Replacement 13995002 1 1,050,000100,000 110,000 100,000 100,000 110,000 110,000 110,000 100,000 110,000 100,000IR: On-going Hardware Adds & Replacement 13995003 1 189,00080,000 61,000 48,000Police: 800 MHz Mobile Police Radios 13995004 1 195,00025,000 145,000 25,000Police: Squad Computers / Cellular Service 13995006 1 35,00035,000Eng: Engineering Total Station 13995010 1 45,00015,000 15,000 15,000IR: EOC Computer / Phone Equipment Replacement 13995013 3 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 22 Total20202021202220232024Source20252026202720282029 #Priority 2,865,968250,000 257,500 265,225 273,182 281,377 289,818 298,513 307,468 316,692 326,193IR: Tablet / Smartphone Hardware and Services 13995015 1 38,00019,000 19,000Facilities: City Hall Cameras 13995016 3 250,00025,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000Admin Serv - Hubble Budgeting Annual Maintenance 13995017 3 25,00025,000Police: Jail Cameras (17)13995021 1 20,00020,000Police: Non-Jail Cameras 13995022 1 55,00055,000Police: Dispatch Camera Viewing Workstations 13995024 1 160,00016,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000IR: Surveillance Camera and S2 Locks Maintenance 13995026 3 68,0006,800 6,800 6,800 6,800 6,800 6,800 6,800 6,800 6,800 6,800IR: Central City Hall Plotter (Lease)13995029 3 60,00060,000IR: Telephone Handset / Handless Upgrades 13995035 3 71,6005,700 13,000 5,700 13,000 5,700 5,700 5,700 5,700 5,700 5,700IR: Remote Building Large Scanner / Plotter 13995036 3 60,00060,000Fire: Stations A/V and EOC Presentation Equipment 13995037 3 6,5006,500Police: Interview Room Cameras 13995040 1 50,00010,000 10,000 10,000 10,000 10,000IR: Wireless Hotspot Additions / Replacements 13995041 3 25,5008,500 8,500 8,500Police: Specialized Dictation System 13995056 1 70,00035,000 35,000IR: UHL Camera Servers Replacement - City Hall 13995057 3 150,00015,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000IR: Adobe Software Products Licensing 13995058 1 80,00080,000IR: On-Going Monitor Replacements 13995059 1 495,00045,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000IR: Fiber Locates 13995065 1 200,00020,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000IR: Fiber Asset Management 13995066 3 1,265,000117,500 132,500 117,500 117,500 130,000 130,000 130,000 130,000 130,000 130,000Police: Body and Squad Dash Cameras 13995067 3 120,00012,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000Admin Serv: Tungsten Elec Accounts Payable 13995068 3 20,00010,000 10,000SWAT Rifle replacement 20180001 1 14,0007,000 7,000SWAT Ballistic Shields 20180003 1 00City Hall Garage Overhead Doors 31150001 1 95,00095,000City Hall Floor 3 Roof Top AC Unit 31170003 1 80,00080,000City Hall Timber Retaining Walls 31200001 1 85,00085,000City Hall Bridge 31200003 3 32,00015,000 17,000City Hall/Police Campus Landscaping 31210001 1 35,00035,000City Hall 2nd Floor Celing Tile Replacement 31210002 5 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 23 Total20202021202220232024Source20252026202720282029 #Priority 25,00025,000City Hall ITE & Gould Elect Panel Replacement 31230001 3 35,00035,000City Hall Generator Head Gasket 31240001 1 8,0008,000City Hall Stair Carpet Replacement 31240002 5 200,000200,000CH Windows, Ext. Coatings and Caulking Replacement 31250001 n/a 15,00015,000City Hall Window Blinds 31250002 5 35,00035,000City Hall First Floor Carpet Replacement 31260001 3 100,000100,000CH Access Control System Replacement, City Wide 31260002 3 15,00015,000CH Update HVAC Controls 31270002 3 20,00020,000Police Parking and Training Feasability Study 32180004 3 65,00065,000Police StationShooting Range Exhaust 32190002 1 10,00010,000Police Lobby Furniture 32190003 1 30,00030,000Police- Replace Ceiling Tiles 32210002 3 30,00030,000Police Station Replace Light Fixtures 32210003 3 140,000140,000PD Indivdual Office & Conf Room Remodel 32210004 3 25,00025,000Police Report Writing Room Remodel 32220002 3 85,00085,000Police Station Remodel Restrooms 32220003 1 15,00015,000Police Station Entry Planter Brick Face 32220004 3 50,00050,000Police Parking Gate 32230001 5 25,00025,000Police Station Blind Replacement 32240002 3 15,00015,000Police Station Exercise Equipment Replacement 32250001 5 65,00065,000Police Station Exterior Masonry Maintenance 32270001 3 18,00018,000Police Station Water Heaters 32270002 1 12,00012,000PD Replace HVAC Controls 32270003 3 90,00090,000Police Locker Replacement 32280001 3 35,00035,000Police Replace Training Room Divider 32290001 5 75,00015,000 15,000 15,000 15,000 15,000MSC & Fire Stations CO Nox Sensor Replacement 33140002 1 20,00020,000MSC Convert Exterior HID to LED 33200001 3 50,00050,000MSC 2nd Bay-Sealant 33200003 3 85,00085,000MSC Fuel Station Replacement 33200004 3 25,00025,000MSC Paint Booth Maintenance 33210002 3 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 24 Total20202021202220232024Source20252026202720282029 #Priority 12,00012,000MSC Replace HVAC Controls 33210003 3 40,00040,000MSC Exterior Fence 33210004 3 20,00020,000MSC Traffic Shop Floor Coating 33210005 5 50,00050,000MSC 3rd Bay Sealant and Stripping 33210006 1 600,000600,000MSC Bays 1, 2 & 3 Roofing 33220001 3 23,00011,000 12,000MSC Campus Landscaping 33220002 3 250,000250,000MSC Heat Exchanger Ventilation 33230002 3 150,000150,000MSC Hoist Replacement 33230003 1 100,000100,000MSC Boiler Replacement 33240002 3 18,00018,000MSC Carpet Replacement 33250001 3 100,000100,000MSC Bays LED Upgrade 33250002 3 250,000250,000MSC Office Remodel 33280001 3 85,00085,000MSC Roof Top HVAC Units 33290001 3 120,000120,000Fire Stations 1 & 2 Apparatus bay floor coating 34160002 1 50,00050,000Fire Station #1 Training Tower modifications 34190001 5 15,00015,000Fire Station 1&2 Mattress replacement 34190005 1 110,000110,000Fire Station 1 Decontamination Laundry 34190006 3 35,00035,000Fire Stations Replace Exercise Equipment 34200001 5 12,00012,000Fire Stations Replace HVAC Controls 34200003 3 15,00015,000Fire Station #1 and #2 Landscaping 34240001 1 18,00018,000Fire 1&2 Water Heaters 34240002 3 35,00035,000FS #1 and #2 Carpet Replacement 3424001 1 60,00060,000Fire Station #1 light fixture replacements 34260001 1 100,000100,000Fire Station Office Furniture 34270001 3 80,00080,000Fire 1&2 Boilers 34280001 3 120,000120,000Fire 1&2 AC 34290001 3 20,00020,000Fire 1&2 Mattresses 34290002 3 45,00045,000Fire Station #2 Replace light fixtures 35250001 1 140,000140,000Rec Center Remodel Offices 37290001 5 64,00011,500 11,500 11,500 29,500Laser/Radar and Message Board 60990001 3 24,0008,000 8,000 8,000Thermal Imagers 65990001 1 63,00021,000 21,000 21,000Outside Warning Sirens 65990002 1 373,283373,283SCBA659900031 30,00030,000Hydraulic Rescue Tool 65990004 5 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 25 Total20202021202220232024Source20252026202720282029 #Priority 105,00050,000 55,000Auto-CPR Device 65990005 1 150,000150,000Turnouts659900061 35,00035,000Helmets/Boots 65990007 3 12,5006,000 6,500Air Monitors 65990008 3 21,975,5001,499,601 2,254,440 1,879,873 1,868,216 1,519,808 1,350,453 2,468,661 3,603,137 3,031,311 2,500,000Annual Equipment Replacement Program E - XX01 1 Capital Replacement Fund Total 42,252,8513,290,101 4,349,740 3,569,598 4,411,481 3,262,685 4,146,271 4,445,674 5,252,605 5,134,003 4,390,693 E-911 Funds 165,00080,000 85,000Fire / Police: Dispatch Voice Recorders 13995007 1 342,33027,217 28,578 30,007 31,507 33,082 34,736 36,473 38,297 40,211 42,222Police: Zuercher CAD Module Annual Fees 13995042 1 150,000150,000911 Server Replacement 13995069 1 26,00026,000UPS PSAP Power Backup System 202000001 1 E-911 Funds Total 683,33053,217 28,578 30,007 181,507 113,082 34,736 36,473 38,297 40,211 127,222 EDA Development Fund 400,000200,000 200,000SWLRT: Stations Technology 13995051 3 666,666666,666SWLRT- Base Design 40199000 1 445,261445,261SWLRT- LRCI 32 - CSAH 25 @ Beltline Blvd. 40199003 1 75,00075,000Street - MSA Street Rehab (Monterey) 40201101 1 EDA Development Fund Total 1,586,9271,386,927 200,000 G.O. Bonds 250,00025,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000IR: Fiber / Handhole Infrastructure Relocations 13995071 1 700,000700,000Rec Center West Arena Roof Replacement 24255010 1 1,000,0001,000,000Rec Center Boiler Replacement 24265004 1 480,750480,750Street - Commercial Street Rehab 40181050 1 2,140,3002,140,300Bridge - Louisiana Ave @ Minnehaha Creek 40181700 1 4,387,6004,387,600CTP Bikeway - Sidewalk - Trail 40192000 3 558,682558,682SWLRT- Regional Trail Bridge Upgrades 40199004 1 380,937380,937Street - Local Street Rehab (Area 8)40201000 1 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 26 Total20202021202220232024Source20252026202720282029 #Priority 977,500250,000 727,500Street - MSA Street Rehab (Monterey) 40201101 1 1,116,6181,116,618Street - Local Street Rehab (Area 8)40211000 1 1,112,5001,112,500CTP Bikeway - Sidewalk - Trail 40212000 3 362,500362,500CTP Bikeway - Sidewalk - Trail 40212001 3 740,924740,924Street - Local Street Rehab (Area 7)40221000 1 2,377,5002,377,500CTP Bikeway - Sidewalk - Trail 40222000 3 575,000575,000Street- W 36th Street Reconstruction 40226000 1 714,271714,271Street - Local Street Rehab (Area 1)40231000 1 1,751,0361,751,036Street - MSA Street Rehab (CLR Texas to Kentucky) 40231100 1 2,715,4752,715,475Street - MSA Street Rehab (Louisiana Ave) 40231101 1 2,050,0002,050,000CTP Bikeway - Sidewalk - Trail 40232000 3 4,010,000250,000 250,000 1,220,000 2,290,000County - Mtka Blvd (Hwy 100 to France) 40237000 1 818,973818,973Street - Local Street Rehab (Area 2)40241000 1 1,816,1141,816,114Street - MSA Street Rehab (CLR TH169 to Texas) 40241100 1 1,708,2731,708,273CTP Bikeway - Sidewalk - Trail 40242000 3 538,200538,200Street - Local Street Rehab (Area 3)40251000 1 1,352,5001,352,500CTP Bikeway - Sidewalk - Trail 40252000 3 554,875554,875Street - Local Street Rehab (Area 4)40261000 1 6,625,0006,625,000CTP Bikeway - Sidewalk - Trail 40262000 3 614,100614,100Street - Local Street Rehab (Area 5)40271000 1 1,706,2501,706,250CTP Bikeway - Sidewalk - Trail 40272000 3 479,550479,550Street - Local Street Rehab (Area 6)40281000 1 287,500287,500Street - MSA Street Rehab (Oxford/Edgwd/Cambridge) 40281100 1 802,125802,125Street - Local Street Rehab (Area 7)40291000 1 G.O. Bonds Total 45,705,0538,223,269 3,344,118 3,968,424 7,505,782 5,588,360 4,205,700 8,904,875 2,345,350 792,050 827,125 Hockey Association 1,000,000100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000Outdoor Refrigerated Ice Rink 24145019 5 Hockey Association Total 1,000,000100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 Met Council Grant 2,700,0002,700,000SWLRT- Park and Ride Ramp at Beltline Station 40199006 1 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 27 Total20202021202220232024Source20252026202720282029 #Priority Met Council Grant Total 2,700,0002,700,000 Municipal State Aid 5,491,7925,491,792Bridge - Louisiana Ave @ Minnehaha Creek 40181700 1 2,268,750581,250 1,687,500Street - MSA Street Rehab (Monterey) 40201101 1 1,731,2501,731,250Street - MSA Street Rehab (CLR Texas to Kentucky) 40231100 1 3,268,7503,268,750Street - MSA Street Rehab (Louisiana Ave) 40231101 1 2,056,2502,056,250Street - MSA Street Rehab (CLR TH169 to Texas) 40241100 1 2,212,5002,212,500Street - MSA Street Rehab (Shelard area) 40261100 1 983,250983,250Street - MSA Street Rehab (W28th St) 40271100 1 3,651,2503,651,250Street - MSA Street Rehab (Oxford/Edgwd/Cambridge) 40281100 1 1,380,0001,380,000Street - MSA Street Rehab (TBD)40291100 1 Municipal State Aid Total 23,043,7926,073,042 1,687,500 5,000,000 2,056,250 2,212,500 983,250 3,651,250 1,380,000 Park Improvement Fund 80,0008,000 8,000 8,000 8,000 8,000 8,000 8,000 8,000 8,000 8,000OR: Asset Mgmt Software 13995011 3 60,00010,000 50,000OR: Nature Center Surveillance Cameras 13995019 3 160,00030,000 50,000 30,000 50,000OR: Rec Center / ROC / Lot Camera Replacements 13995025 1 60,0005,000 25,000 5,000 25,000OR: Oak Hill Camera/Security/Wi-Fi Replacements 13995052 3 34,00011,000 12,000 11,000OR: Park Shelter (Smaller) Camera Replacements 13995053 3 10,0005,000 5,000OR: Wolfe Park / Amphitheatre / Pool Wi-Fi Replace 13995054 3 30,00030,000OR: Birchwood Cameras / S2 Security 13995060 3 15,00015,000OR: Wolfe Park Pavilion S2 / Amphitheatre Cameras 13995061 3 65,00065,000OR: Rec Banquet Room & Gallery A/V System Replace. 13995064 1 45,00015,000 15,000 15,000OR: Rec POS Stations 13995070 3 50,00050,00040th & France Fencing & Parking Lot 21193202 3 15,00015,000Trail Reconstruction - Bronx Park 21200912 1 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 28 Total20202021202220232024Source20252026202720282029 #Priority 300,000300,000Dakota Park LED Baseball Field Light Replacement 21201801 3 35,00035,000ADA Trail Compliance 21202401 1 15,00015,000Trail Reconstruction - Keystone Park 21203013 1 10,00010,000Louisiana Oaks Park & Hwy 7 Interchange Landscape 21203603 1 135,000135,000Tennis Court Rebuild - Northside Park 21204301 3 15,00015,000Trail Reconstruction - Northside Park 21204314 1 15,00015,000ADA Compliant - Picnic Tables 21209901 1 15,00015,000Historical Society Depot Renovation 21209902 n/a 194,500194,500Trail Reconstruction - Bass Lake Park 21210411 3 165,000165,000Carpenter Park LED Ballfield Replacement 21211101 3 10,00010,000Batting Cages - Cedar Knoll Park / Carlson Field 21211303 1 55,00055,000Trail Reconstruction - Louisiana Oaks Park 21213614 3 65,00065,000Trail Reconstruction - Oak Hill Park 21214415 3 500,00010,000 490,000Webster Park Construction 21216101 n/a 75,00075,000Trail Reconstruction - Wolfe Park 21216416 3 35,00035,000Trail Reconstruction - Franklin 21219912 3 24,00024,000Trail Reconstruction - Jordan 21219913 3 50,00050,000Trail Reconstruction - Minnehaha Creek 21224109 3 250,000250,000Tennis Court Total Reconstruction - Aquila Park 21230301 n/a 35,00035,000Browndale Park Hardcourt 21231001 n/a 30,00030,000Trail Reconstruction - Otten Pond 21234611 3 10,00010,000Trail Reconstruction - Roxbury Park 21235112 3 10,00010,000Trail Reconstruction - Twin Lakes Park 21235813 3 2,0002,000Repaint Park Building - Cedar Knoll Park 21240130 1 7,0007,000Repaint Park Building - Aquila Park 21240306 1 75,00075,000Trail Reconstruction - Aquila Park 21240317 3 7,0007,000Repaint Park Building - Birchwood Park 21240607 1 7,0007,000Repaint Park Building - Browndale Park 21241008 1 6,0006,000Repaint Park Building - Carpenter Park 21241109 1 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 29 Total20202021202220232024Source20252026202720282029 #Priority 50,00050,000Trail Reconstruction - Carpenter Park 21241118 3 4,0004,000Repaint Park Building - Dakota Park 21241811 1 5,0005,000Repaint Park Building - Fern Hill Park 21242112 1 30,00030,000Trail Reconstruction - Jersey Park 21242719 1 7,0007,000Repaint Park Building - Louisiana Oaks Park 21243613 1 7,0007,000Repaint Park Building - Nelson Park 21244214 1 6,0006,000Repaint Park Building - Northside Park 21244315 1 9,0009,000Repaint Park Building - Oak Hill Park 21244416 1 40,00040,000Trail Reconstruction - Lamplighter Park 21253401 3 30,00030,000Trail Reconstruction - Westwood Hills NC 21256202 3 100,000100,000Wolfe Park Amphitheater Pavers 21256403 3 100,000100,000Trail Reconstruction 21259903 3 150,000150,000Park Shelter Replacement 21259905 3 100,000100,000Trail Lighting 21259906 3 130,000130,000Trail from Hampshire Park to Otten Pond 21269903 n/a 17,50017,500Court Resurface - Carpenter tennis courts 21271105 3 17,50017,500Court Resurface - Wolfe Park (Pklbll & Bsktbll) 21276403 3 200,000200,000Park Building Upgrades 21279903 3 300,000300,000Cedar Knoll Park - Carlson Field LED replacement 21281301 3 112,000112,000Aquila Park LED Ballfield Replacement 21290301 3 65,00065,000Playground Eqpt Repl - Ainsworth Park 21990101 1 100,000100,000Playground Eqpt Repl - Aquila Park 21990301 1 65,00065,000Playground Eqpt Repl - Bronx Park 21990902 1 75,00075,000Playground Eqpt Repl - Browndale Park 21991002 1 65,00065,000Playground Eqpt Repl - Carpenter Park 21991102 1 65,00065,000Playground Eqpt Repl - Cedarhurst Park 21991503 1 65,00065,000Playground Eqpt Repl - Center Park 21991604 1 65,00065,000Playground Eqpt Repl - Parkview Park 21991712 1 67,00067,000Playground Eqpt Repl - Dakota Park 21991801 1 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 30 Total20202021202220232024Source20252026202720282029 #Priority 65,00065,000Playground Eqpt Repl - Edgebrook Park 21991918 1 85,00085,000Playground Eqpt Repl - Fern Hill Park 21992110 1 67,00067,000Playground Eqpt Repl - Hampshire Park 21992401 1 65,00065,000Playground Eqpt Repl - Jackley Park 21992611 1 67,00067,000Playground Eqpt Repl - Jersey Park 21992706 1 65,00065,000Playground Eqpt Repl - Jorvig Park 21992801 1 67,00067,000Playground Eqpt Repl - Justad Park 21992907 1 65,00065,000Playground Eqpt Repl - Knollwood Green 21993217 1 100,000100,000Playground Eqpt Repl - Louisiana Oaks Park 21993601 1 65,00065,000Playground Eqpt Repl - Minikahda Vista Park 21994002 1 67,00067,000Playground Eqpt Repl - Nelson Park 21994205 1 67,00067,000Playground Eqpt Repl - Oak Hill Park (Tot) 21994402 1 100,000100,000Playground Eqpt Repl - Oak Hill Park (Big) 21994403 1 65,00065,000Playground Eqpt Repl - Oregon Park 21994502 1 65,00065,000Playground Eqpt Repl - Pennsylvania Park 21994803 1 65,00065,000Playground Eqpt Repl - Sunset Park 21995403 1 65,00065,000Playground Eqpt Repl - Texa-Tonka Park 21995607 1 65,00065,000Playground Eqpt Repl - Webster Park 21996112 1 100,000100,000Playground Eqpt Repl - Westwood Hills NC 21996204 1 100,000100,000Playground Eqpt Repl - Wolfe Park 21996401 1 95,50095,500Playground Eqpt Repl - Wolfe Park EVOS 21996402 1 67,00067,000Playground Eqpt Repl - Wolfe Park (tot) 21996403 1 120,00020,000 20,000 20,000 20,000 20,000 20,000Playground Woodchips 21999902 1 125,000125,000Trail Restoration 21999907 3 15,00015,000Minnehaha Creek Invasive Plant Removal 22204110 1 450,00075,000 75,000 75,000 75,000 75,000 75,000Tree Replacement 22999901 3 100,00020,000 20,000 20,000 20,000 20,000Buckthorn Management 22999903 3 40,00040,000Westwood Hills NC Rotary Deck Rebuild 23206201 1 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 31 Total20202021202220232024Source20252026202720282029 #Priority 25,00025,000Westwood Hills NC Trail Bench Replacement 23206214 1 40,00040,000Westwood Hills NC Staircase Rebuild 23216216 1 75,00075,000Westwood Hills NC Water Garden, Phase 2 23226210 5 50,00050,000Westwood Hills NC Boardwalk Deck Repl, Phase 3 23246220 1 100,000100,000Westwood Hills NC Boardwalk Deck Repl, Phase 1 23256203 3 50,00050,000Westwood Hills NC Waterfall 23256204 5 30,00030,000Westwood Hills NC Trail Sign Replacement 23266202 1 10,00010,000Westwood Hills NC Waterfall Deck Redecking 23286203 1 35,00020,000 15,000Westwood Hillls NC Master Revegetation Plan 23996227 3 75,00075,000Rec Center Banquet Room AC Replacement 24205003 1 200,000200,000Rec Center Signage 24205008 3 10,00010,000Rec Center Rental Skate Replacement (Ph 1) 24205011 1 20,00020,000Rec Center Electric Vehicle Station Addition 24215003 1 50,00050,000Rec Center Parking Lot Light Replacement 24215004 1 530,000530,000Rec Center Parking Lot Replacement 24215005 1 250,000250,000Rec Center Arena Rubber Floor 24215007 1 10,00010,000Rec Center Rental Skate Replacement (Ph 2) 242150110 1 50,00050,000Rec Center Lighting Upgrade/Electrical Improvement 24215018 1 60,00060,000Rec Center East Arena Painting 24225006 1 25,00025,000Rec Center Skate Sharpener 24225010 1 75,00075,000Rec Center Arena Water Treatment Repl 24235008 1 75,00075,000Rec Center West Arena Painting 24235009 1 400,000400,000Rec Center East Arena Dehumidification 24245003 1 500,000500,000Rec Center Generator Replacement 24245004 1 25,00025,000Rec Center Banquet Room Carpet Replacement 24255003 3 100,000100,000Rec Center West Arena Roof Replacement 24255010 1 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 32 Total20202021202220232024Source20252026202720282029 #Priority 100,000100,000Rec Center West Arena Locker Room Remodel 24265003 3 150,000150,000Rec Center Restroom Plumbing 24275001 n/a 300,000300,000Rec Center Tile Lobby 24275002 n/a 150,000150,000Rec Center Cooling Tower Replacement 24275003 1 75,00075,000Rec Center Aquatic Park Sun Shelter Addition 24275010 1 450,000150,000 150,000 150,000Rec Center Dasher Board Replacement 24995003 1 30,00015,000 15,000Rec Center Arena Compressor Rebuild 24995006 1 150,00025,000 50,000 75,000Rec Center Dasher Board Repair 24995008 3 155,00020,000 15,000 20,000 15,000 20,000 20,000 20,000 25,000Rec Center Landscaping (woodchips)24995017 3 25,00025,000Rec Center Aquatic Park Main Drain Replacement 25200217 1 200,000200,000Rec Center Aquatic Park Entrance Remodel 25205005 3 10,00010,000Rec Center Aquatic Park Feasibility Study 25210203 3 100,000100,000Rec Center Aquatic Park Locker Room Remodel 25220205 3 100,000100,000Rec Center Aquatic Park Rehabilitation 25235003 1 100,000100,000Rec Center Aquatic Park Slide Recoating 25240203 1 75,00075,000Rec Center Aquatic Park Umbrella & Sun Shltr Rplcm 25270203 3 100,000100,000Rec Center Aquatic Park Feature(s)25270204 3 50,00010,000 10,000 15,000 15,000Rec Center Aquatic Park Deck Furniture 25990212 1 10,0005,000 5,000Rec Center Aquatic Park Concession Eqpt. Rplcmt 25990215 3 50,00050,000ROC Storage 27226601 n/a 75,00075,000ROC Sport Court Addition 27236603 3 150,000150,000ROC Restrooms 27276601 n/a 30,00010,000 10,000 10,000ROC Roof Assessment 27996603 1 175,00080,000 95,000ROC Turf Replacement 27996604 1 Park Improvement Fund Total 12,986,0001,113,000 2,507,500 1,313,500 1,280,000 1,330,000 1,313,000 587,000 1,850,000 1,251,000 441,000 Pavement Management Fund 1,192,5101,192,510Street - Commercial Street Rehab 40181050 1 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 33 Total20202021202220232024Source20252026202720282029 #Priority 38,14438,144Bridge - Louisiana Ave @ Minnehaha Creek 40181700 1 108,749108,749Parking Lot - Lake St & Walker 40191600 1 82,50082,500Concrete Replacement- SW-C&G-40200003 1 3,047,5003,047,500Street - Local Street Rehab (Area 8)40201000 1 427,790427,790Street - Maintenance Project (Area 4) 40201200 1 75,00075,000Traffic Signal - FYA & Control Cabinets 40201300 1 423,800423,800Alley Construction 40201500 3 82,50082,500Concrete Replacement- SW-C&G-40210003 1 3,335,0003,335,000Street - Local Street Rehab (Area 8)40211000 1 450,450450,450Alley Construction 40211500 3 38,58838,588Parking Lot - City Hall Lower 40211600 3 82,50082,500Concrete Replacement- SW-C&G-40220003 1 3,369,5003,369,500Street - Local Street Rehab (Area 7)40221000 1 1,610,0001,610,000Street - Commercial Street Rehab 40221050 1 335,342335,342Street - Maintenance Project (Area 6)40221200 1 449,800449,800Alley Construction 40221500 3 82,50082,500Concrete Replacement- SW-C&G-40230003 1 2,553,0002,553,000Street - Local Street Rehab (Area 1)40231000 1 440,454440,454Street -Maintenance Project (Area 7)40231200 1 397,150397,150Alley Construction 40231500 3 632,500632,500Bridge - 34th Street @ Minnehaha Creek 40231700 1 82,50082,500Concrete Replacement- SW-C&G-40240003 1 3,507,5003,507,500Street - Local Street Rehab (Area 2)40241000 1 1,012,0001,012,000Street - Commercial Street Rehab 40241050 1 490,787490,787Street - Maintenance Project (Area 8)40241200 1 274,300274,300Alley Construction 40241500 3 70,62070,620Parking Lot - MSC 40241600 3 82,50082,500Concrete Replacement- SW-C&G-40250003 1 3,588,0003,588,000Street - Local Street Rehab (Area 3)40251000 1 667,000667,000Street - Commercial Street Rehab 40251050 1 453,200453,200Street - Maintenance Project (Area 1)40251200 1 268,450268,450Alley Construction 40251500 3 17,85017,850Parking Lot - Fire Stn #1 40251601 3 12,60012,600Parking Lot - Fire Stn #2 40251602 3 82,50082,500Concrete Replacement- SW-C&G-40260003 1 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 34 Total20202021202220232024Source20252026202720282029 #Priority 2,219,5002,219,500Street - Local Street Rehab (Area 4)40261000 1 837,500837,500Street - MSA Street Rehab (Shelard area) 40261100 1 498,305498,305Street - Maintenance Project (Area 2)40261200 1 338,000338,000Alley Construction 40261500 3 105,919105,919Parking Lot - Louisiana Park & Ride (N&S) 40261600 5 82,50082,500Concrete Replacement- SW-C&G-40270003 1 4,094,0004,094,000Street - Local Street Rehab (Area 5)40271000 1 299,596299,596Street - Maintenance Project (Area 3)40271200 1 82,50082,500Concrete Replacement- SW-C&G-40280003 1 3,197,0003,197,000Street - Local Street Rehab (Area 6)40281000 1 489,590489,590Street - Maintenance Project (Area 4) 40281200 1 1,430,2491,430,249Bridge - Meadowbrook @ Minnehaha Creek 40281700 1 82,50082,500Concrete Replacement - SW-C&G- CB 40290003 1 3,208,5003,208,500Street - Local Street Rehab (Area 7)40291000 1 481,227481,227Street - Maintenance Project (Area 5) 40291200 1 Pavement Management Fund Total 47,311,9705,395,993 3,919,138 5,847,142 4,105,604 5,543,626 5,077,000 3,975,805 4,476,096 5,199,339 3,772,227 Permanent Improvement Revolving F 555,000555,000Street Light Replacement, SSD1 (2020) 50204110 1 370,000370,000Street Light Replacement, SSD2 (2022) 50224110 1 370,000370,000Street Light Replacement, SSD3 (2024) 50244110 1 Permanent Improvement Revolving Fund Total 1,295,000555,000 370,000 370,000 Police & Fire Pension 110,000110,000Police: New CAD/RMS/Mobile Suite 13145010 3 70,00010,000 10,000 10,000 10,000 10,000 10,000 10,000Police: Zuercher Crime View Dashboard 13155020 3 556,00078,000 287,000 91,000 100,000Police: 800 MHz Mobile Police Radios 13995004 1 295,00025,000 25,000 25,000 145,000 25,000 25,000 25,000Police: Squad Computers / Cellular Service 13995006 1 25,00025,000Police: Jail Cameras (17)13995021 1 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 35 Total20202021202220232024Source20252026202720282029 #Priority 20,00020,000Police: Non-Jail Cameras 13995022 1 55,00055,000Police: Dispatch Camera Viewing Workstations 13995024 1 6,5006,500Police: Interview Room Cameras 13995040 1 260,000140,000 120,000Police: Command Van (2020) and EOC AV Equip (2025) 13995043 3 59,5008,500 8,500 8,500 8,500 8,500 8,500 8,500Police: Specialized Dictation System 13995056 1 Police & Fire Pension Total 1,457,000183,500 43,500 43,500 321,500 357,000 254,500 253,500 Police Budget 24,00024,000SWAT Robot 20180002 3 240,00060,000 60,000 60,000 60,000Police-ALPR replacement 61990001 3 Police Budget Total 264,00060,000 60,000 24,000 60,000 60,000 PW Operations Budget 95,00095,000Concrete Replacement- SW-C&G-40200003 1 4,8104,810Street - Maintenance Project (Area 4) 40201200 1 94,00094,000Traffic Signal - FYA & Control Cabinets 40201300 1 95,00095,000Concrete Replacement- SW-C&G-40210003 1 95,00095,000Concrete Replacement- SW-C&G-40220003 1 14,85814,858Street - Maintenance Project (Area 6)40221200 1 95,00095,000Concrete Replacement- SW-C&G-40230003 1 33,34633,346Street -Maintenance Project (Area 7)40231200 1 95,00095,000Concrete Replacement- SW-C&G-40240003 1 3,6133,613Street - Maintenance Project (Area 8)40241200 1 95,00095,000Concrete Replacement- SW-C&G-40250003 1 95,00095,000Concrete Replacement- SW-C&G-40260003 1 6,3956,395Street - Maintenance Project (Area 2)40261200 1 95,00095,000Concrete Replacement- SW-C&G-40270003 1 30,00430,004Street - Maintenance Project (Area 3)40271200 1 95,00095,000Concrete Replacement- SW-C&G-40280003 1 4,8104,810Street - Maintenance Project (Area 4) 40281200 1 95,00095,000Concrete Replacement - SW-C&G- CB 40290003 1 13,17313,173Street - Maintenance Project (Area 5) 40291200 1 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 36 Total20202021202220232024Source20252026202720282029 #Priority 175,000175,000Street Light Annual Replacement (2020) 50204101 1 16,50016,500Traffic Signal Annual Painting (2020)50204301 3 180,000180,000Street Light Annual Replacement (2021) 50214101 1 17,00017,000Traffic Signal Annual Painting (2021)50214301 3 14,00014,000Replace Salt Brine Maker 50214401 3 185,000185,000Street Light Annual Replacement (2022) 50224101 1 17,50017,500Traffic Signal Annual Painting (2022)50224301 3 190,000190,000Street Light Annual Replacement (2023) 50234101 1 18,00018,000Traffic Signal Annual Painting (2023)50234301 3 195,000195,000Street Light Annual Replacement (2024) 50244101 1 18,50018,500Traffic Signal Annual Painting (2024)50244301 3 200,000200,000Street Light Annual Replacement (2025) 50254101 1 19,00019,000Traffic Signal Annual Painting (2025)50254301 3 205,000205,000Street Light Annual Replacement (2026) 50264101 3 19,50019,500Traffic Signal Annual Painting (2026)50264301 3 210,000210,000Street Light Annual Replacement (2027) 50274101 3 20,00020,000Traffic Signal Annual Painting (2027)50274301 3 215,000215,000Street Light Annual Replacement (2028) 50284101 3 20,50020,500Traffic Signal Annual Painting (2028)50284301 3 PW Operations Budget Total 3,090,509385,310 306,000 312,358 336,346 312,113 314,000 325,895 355,004 335,310 108,173 Sanitary Sewer Utility 51,00051,000Admin Serv: Utility Billing App Replacement 13195001 1 160,00016,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000OR: Asset Mgmt Software 13995011 3 10,0005,000 5,000OR: MSC Cameras 13995031 3 287,500287,500Street - Local Street Rehab (Area 8)40201000 1 300,000131,250 168,750Street - MSA Street Rehab (Monterey) 40201101 1 500,000500,000Sanitary Sewer- Mainline Rehab 40203000 1 287,500287,500Street - Local Street Rehab (Area 8)40211000 1 520,000520,000Sanitary Sewer- Mainline Rehab 40213000 1 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 37 Total20202021202220232024Source20252026202720282029 #Priority 287,500287,500Street - Local Street Rehab (Area 7)40221000 1 57,50057,500Street - Commercial Street Rehab 40221050 1 540,000540,000Sanitary Sewer- Mainline Rehab 40223000 1 287,500287,500Street - Local Street Rehab (Area 1)40231000 1 57,50057,500Street - MSA Street Rehab (CLR Texas to Kentucky) 40231100 1 57,50057,500Street - MSA Street Rehab (Louisiana Ave) 40231101 1 560,000560,000Sanitary Sewer- Mainline Rehab 40233000 1 287,500287,500Street - Local Street Rehab (Area 2)40241000 1 57,50057,500Street - Commercial Street Rehab 40241050 1 57,50057,500Street - MSA Street Rehab (CLR TH169 to Texas) 40241100 1 580,000580,000Sanitary Sewer- Mainline Rehab 40243000 1 287,500287,500Street - Local Street Rehab (Area 3)40251000 1 57,50057,500Street - Commercial Street Rehab 40251050 1 600,000600,000Sanitary Sewer- Mainline Rehab 40253000 1 287,500287,500Street - Local Street Rehab (Area 4)40261000 1 118,750118,750Street - MSA Street Rehab (Shelard area) 40261100 1 620,000620,000Sanitary Sewer- Mainline Rehab 40263000 1 287,500287,500Street - Local Street Rehab (Area 5)40271000 1 57,50057,500Street - MSA Street Rehab (W28th St) 40271100 1 640,000640,000Sanitary Sewer- Mainline Rehab 40273000 1 287,500287,500Street - Local Street Rehab (Area 6)40281000 1 57,50057,500Street - MSA Street Rehab (Oxford/Edgwd/Cambridge) 40281100 1 51,75051,750Bridge - Meadowbrook @ Minnehaha Creek 40281700 1 660,000660,000Sanitary Sewer- Mainline Rehab 40283000 1 287,500287,500Street - Local Street Rehab (Area 7)40291000 1 680,000680,000Sanitary Sewer - Mainline Rehab 40293000 1 400,000400,000Upgrade SCADA Control System (2018-2020) 53185006 3 100,00050,000 50,000GIS Survey of Utility Lines (2020-21)53205002 3 25,00025,000Annual Lift Station Pump Repairs 53205153 3 26,00026,000Annual Lift Station Pump Repairs 53215153 3 27,00027,000Annual Lift Station Pump Repairs 53225153 3 28,00028,000Annual Lift Station Pump Repairs 53235153 3 29,00029,000Annual Lift Station Pump Repairs 53245153 3 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 38 Total20202021202220232024Source20252026202720282029 #Priority 70,00070,000Sanitary Lift Station: Replace MCC (LS-19) 53255104 3 30,00030,000Annual Lift Station Pump Repairs 53255153 3 31,00031,000Annual Lift Station Pump Repairs 53265153 3 32,00032,000Annual Lift Station Pump Repairs 53275153 3 33,00033,000Annual Lift Station Pump Repairs 53285153 3 34,00034,000Annual Lift Station Pump Repairs 53295153 3 Sanitary Sewer Utility Total 10,791,5001,409,750 1,119,250 928,000 1,006,500 1,032,500 1,061,000 1,073,250 1,033,000 1,105,750 1,022,500 Solid Waste Utility 50,00050,000Admin Serv: Utility Billing App Replacement 13195001 1 80,0008,000 8,000 8,000 8,000 8,000 8,000 8,000 8,000 8,000 8,000OR: Asset Mgmt Software 13995011 3 10,0005,000 5,000OR: MSC Cameras 13995031 3 Solid Waste Utility Total 140,0008,000 58,000 8,000 8,000 13,000 8,000 8,000 8,000 8,000 13,000 Special Assessments 312,487312,487Parking Lot - Gorham 40171600 5 397,058397,058Parking Lot - Lake and Wooddale (NW corner) 40201600 3 71,02671,026Parking Lot - 27th St & Louisiana 40221600 3 129,953129,953Parking Lot - Alabama & Excelsior Blvd 40231600 5 Special Assessments Total 910,524397,058 312,487 71,026 129,953 State of Minnesota 1,050,0001,050,000Bridge - Louisiana Ave @ Minnehaha Creek 40181700 1 180,000180,000Bridge - 34th Street @ Minnehaha Creek 40231700 1 1,170,0001,170,000Bridge - Meadowbrook @ Minnehaha Creek 40281700 1 State of Minnesota Total 2,400,0001,050,000 180,000 1,170,000 Stormwater Utility 51,00051,000Admin Serv: Utility Billing App Replacement 13195001 1 20,00010,000 10,000OR: MSC Cameras 13995031 3 24,45524,455Street - Commercial Street Rehab 40181050 1 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 39 Total20202021202220232024Source20252026202720282029 #Priority 320,539320,539Bridge - Louisiana Ave @ Minnehaha Creek 40181700 1 105,055105,055Storm Water- Oregon Pond Basin Rehab 40184000 1 59,80059,800Storm Water- Sumter Pond Rehab 40194000 1 110,000110,000Concrete Replacement- SW-C&G-40200003 1 575,000575,000Street - Local Street Rehab (Area 8)40201000 1 312,500187,500 125,000Street - MSA Street Rehab (Monterey) 40201101 1 228,200228,200Alley Construction 40201500 3 34,00034,000Storm Water- Klodt Pond WQ Improvements 40204000 1 999,000999,000Storm Water - Hannon Lift station 40204001 3 50,00050,000Storm Water- Rainwater Rewards 40204500 3 110,000110,000Concrete Replacement- SW-C&G-40210003 1 575,000575,000Street - Local Street Rehab (Area 8)40211000 1 242,550242,550Alley Construction 40211500 3 1,725,0001,725,000Storm Water- Webster Park WQ Improvements 40214001 3 50,00050,000Storm Water- Rainwater Rewards 40214500 3 110,000110,000Concrete Replacement- SW-C&G-40220003 1 575,000575,000Street - Local Street Rehab (Area 7)40221000 1 287,500287,500Street - Commercial Street Rehab 40221050 1 242,200242,200Alley Construction 40221500 3 86,25086,250Storm Water- Minnehaha Creek Equalizer Pipe 40224000 3 287,500287,500Storm Water- Westdale Sed Basin Rehab 40224001 1 50,00050,000Storm Water- Rainwater Rewards 40224500 3 110,000110,000Concrete Replacement- SW-C&G-40230003 1 575,000575,000Street - Local Street Rehab (Area 1)40231000 1 287,500287,500Street - MSA Street Rehab (CLR Texas to Kentucky) 40231100 1 287,500287,500Street - MSA Street Rehab (Louisiana Ave) 40231101 1 213,850213,850Alley Construction 40231500 3 750,000750,000Bridge - 34th Street @ Minnehaha Creek 40231700 1 1,725,0001,725,000Storm Water- Ainsworth Park WQ Improvements 40234000 3 50,00050,000Storm Water- Rainwater Rewards 40234500 3 110,000110,000Concrete Replacement- SW-C&G-40240003 1 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 40 Total20202021202220232024Source20252026202720282029 #Priority 575,000575,000Street - Local Street Rehab (Area 2)40241000 1 172,500172,500Street - Commercial Street Rehab 40241050 1 287,500287,500Street - MSA Street Rehab (CLR TH169 to Texas) 40241100 1 147,700147,700Alley Construction 40241500 3 402,500402,500Storm Water- Louisiana Oaks & South Oak Pond Rehab 40244000 1 86,25086,250Storm Water- Park Glen Improvements 40244001 1 50,00050,000Storm Water- Rainwater Rewards 40244500 3 110,000110,000Concrete Replacement- SW-C&G-40250003 1 575,000575,000Street - Local Street Rehab (Area 3)40251000 1 172,500172,500Street - Commercial Street Rehab 40251050 1 144,550144,550Alley Construction 40251500 3 1,725,0001,725,000Storm Water- Aquila Park WQ Improvements 40254000 3 50,00050,000Storm Water- Rainwater Rewards 40254500 3 110,000110,000Concrete Replacement- SW-C&G-40260003 1 575,000575,000Street - Local Street Rehab (Area 4)40261000 1 312,500312,500Street - MSA Street Rehab (Shelard area) 40261100 1 182,000182,000Alley Construction 40261500 3 287,500287,500Storm Water- Otten Pond Rehab 40264000 1 86,25086,250Storm Water- Shelard Sediment Basin Rehab 40264001 1 50,00050,000Storm Water- Rainwater Rewards 40264500 3 110,000110,000Concrete Replacement- SW-C&G-40270003 1 575,000575,000Street - Local Street Rehab (Area 5)40271000 1 287,500287,500Street - MSA Street Rehab (W28th St) 40271100 1 1,725,0001,725,000Storm Water- Louisiana Station Area Improvements 40274002 3 50,00050,000Storm Water- Rainwater Rewards 40274500 3 110,000110,000Concrete Replacement- SW-C&G-40280003 1 575,000575,000Street - Local Street Rehab (Area 6)40281000 1 287,500287,500Street - MSA Street Rehab (Oxford/Edgwd/Cambridge) 40281100 1 575,000575,000Bridge - Meadowbrook @ Minnehaha Creek 40281700 1 172,500172,500Storm Water- Hampshire Pond Rehab 40284000 1 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 41 Total20202021202220232024Source20252026202720282029 #Priority 230,000230,000Storm Water- Lamplighter Pond Rehab 40284001 1 50,00050,000Storm Water- Rainwater Rewards 40284500 3 110,000110,000Concrete Replacement - SW-C&G- CB 40290003 1 575,000575,000Street - Local Street Rehab (Area 7)40291000 1 1,725,0001,725,000Storm Water- Lake Street Basin WQ Improvements 40294000 3 50,00050,000Storm Water- Rainwater Rewards 40294500 3 400,000400,000Upgrade SCADA Control System (2018-2020) 53185006 3 100,00050,000 50,000GIS Survey of Utility Lines (2020-21)53205002 3 25,00025,000Annual Lift Station Pump Repairs 53205153 3 50,00050,000Annual Catch Basin Repairs (2020)53205301 3 25,00025,000Storm Sewer LS Maint (LS #1)53205302 3 26,00026,000Annual Lift Station Pump Repairs 53215153 3 52,00052,000Annual Catch Basin Repairs (2021)53215301 3 27,00027,000Annual Lift Station Pump Repairs 53225153 3 54,00054,000Annual Catch Basin Repairs (2022)53225301 3 28,00028,000Annual Lift Station Pump Repairs 53235153 3 56,00056,000Annual Catch Basin Repairs (2023)53235301 3 29,00029,000Annual Lift Station Pump Repairs 53245153 3 58,00058,000Annual Catch Basin Repairs (2024)53245301 3 30,00030,000Annual Lift Station Pump Repairs 53255153 3 60,00060,000Annual Catch Basin Repairs (2025)53255301 3 31,00031,000Annual Lift Station Pump Repairs 53265153 3 62,00062,000Annual Catch Basin Repairs (2026)53265301 3 32,00032,000Annual Lift Station Pump Repairs 53275153 3 64,00064,000Annual Catch Basin Repairs (2027)53275301 3 33,00033,000Annual Lift Station Pump Repairs 53285153 3 66,00066,000Annual Catch Basin Repairs (2028)53285301 3 34,00034,000Annual Lift Station Pump Repairs 53295153 3 68,00068,000Annual Catch Basin Repairs (2029)53295301 3 Stormwater Utility Total 26,058,6493,243,549 3,006,550 1,719,450 4,082,850 1,928,450 2,867,050 1,696,250 2,843,500 2,149,000 2,522,000 Tax Increment - Elmwood 2,464,0002,464,000Street- W 36th Street Reconstruction 40226000 1 1,825,0001,825,000Street- Wooddale Ave Reconstruction 40226001 1 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 42 Total20202021202220232024Source20252026202720282029 #Priority Tax Increment - Elmwood Total 4,289,0004,289,000 U.S. Government 2,918,4002,918,400CTP Bikeway - Sidewalk - Trail 40192000 3 560,000560,000CTP Bikeway - Sidewalk - Trail 40222000 3 U.S. Government Total 3,478,4002,918,400 560,000 Unfunded 240,000240,000Bus Shelter Replacement, SSD1 (2021) 50214201 1 250,000250,000Bus Shelter Replacement, SSD2 (2023) 50234201 1 260,000260,000Bus Shelter Replacement, SSD3 (2025) 50254201 1 370,000370,000Street Light Replacement, E&G Area (2026) 50264110 1 270,000270,000Bus Shelter Replacement, SSD4 (2027) 50274201 1 1,000,0001,000,000Water Project - WTP #6 Treatment Upgrade 53245003 5 Unfunded Total 2,390,000240,000 250,000 1,000,000 530,000 370,000 Water Utility 51,00051,000Admin Serv: Utility Billing App Replacement 13195001 1 160,00016,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000OR: Asset Mgmt Software 13995011 3 10,0005,000 5,000OR: MSC Cameras 13995031 3 312,500312,500Street - Commercial Street Rehab 40181050 1 321,600321,600Bridge - Louisiana Ave @ Minnehaha Creek 40181700 1 1,372,2561,372,256Street - Local Street Rehab (Area 8)40201000 1 62,50025,000 37,500Street - MSA Street Rehab (Monterey) 40201101 1 1,936,2551,936,255Street - Local Street Rehab (Area 8)40211000 1 1,540,0001,540,000Water- Recoat Elevated Water Tower #2 40215000 1 2,415,0002,415,000Street - Local Street Rehab (Area 7)40221000 1 182,850182,850Street - Commercial Street Rehab 40221050 1 2,415,0002,415,000Street - Local Street Rehab (Area 1)40231000 1 129,375129,375Street - MSA Street Rehab (CLR Texas to Kentucky) 40231100 1 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 43 Total20202021202220232024Source20252026202720282029 #Priority 149,500149,500Street - MSA Street Rehab (Louisiana Ave) 40231101 1 2,415,0002,415,000Street - Local Street Rehab (Area 2)40241000 1 102,350102,350Street - Commercial Street Rehab 40241050 1 148,609148,609Street - MSA Street Rehab (CLR TH169 to Texas) 40241100 1 2,415,0002,415,000Street - Local Street Rehab (Area 3)40251000 1 85,10085,100Street - Commercial Street Rehab 40251050 1 2,415,0002,415,000Street - Local Street Rehab (Area 4)40261000 1 231,719231,719Street - MSA Street Rehab (Shelard area) 40261100 1 2,415,0002,415,000Street - Local Street Rehab (Area 5)40271000 1 76,04476,044Street - MSA Street Rehab (W28th St) 40271100 1 2,415,0002,415,000Street - Local Street Rehab (Area 6)40281000 1 184,575184,575Street - MSA Street Rehab (Oxford/Edgwd/Cambridge) 40281100 1 103,500103,500Bridge - Meadowbrook @ Minnehaha Creek 40281700 1 2,415,0002,415,000Street - Local Street Rehab (Area 7)40291000 1 400,000400,000Upgrade SCADA Control System (2018-2020) 53185006 3 150,000150,000Replace Roof, WTP1 53205001 1 100,00050,000 50,000GIS Survey of Utility Lines (2020-21)53205002 3 76,00076,000Water Treatment Plant GAC Replacement (WTP1) 53215002 1 80,00080,000Water Well Rehab (SLP11)53215003 3 45,00045,000Water Well Rehab (SLP15)53225001 3 45,00045,000Water Well Rehab (SLP10)53235001 3 50,00050,000Water Well Rehab (SLP8)53235002 3 80,00080,000Water Treatment Plant GAC Replacement (WTP1) 53235003 1 55,00055,000Water Well Rehab (SLP16)53245001 3 520,000520,000Water Treatment Plant Rehab, WTP1 53245002 1 85,00085,000Water Well Rehab (SLP12)53255001 3 84,00084,000Water Treatment Plant GAC Replacement (WTP1) 53255003 1 460,000460,000Water Treatment Plant Rehab, WTP6 53255004 1 55,00055,000Water Well Rehab (SLP4)53265002 3 550,000550,000Water Treatment Plant Rehab, WTP8 53265004 1 88,00088,000Water Treatment Plant GAC Replacement (WTP1) 53275002 1 Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 44 Total20202021202220232024Source20252026202720282029 #Priority 500,000500,000Water Treatment Plant Rehab, WTP10 53275003 1 515,000515,000Water Treatment Plant Rehab, WTP16 53285002 1 85,00085,000Water Well Rehab (SLP13)53295001 3 60,00060,000Water Well Rehab (SLP14)53295002 3 170,000170,000Replace Roof, WTP4 53295003 1 Water Utility Total 30,732,7332,647,356 3,786,755 2,613,850 2,834,875 3,311,959 3,190,100 3,267,719 3,095,044 3,234,075 2,751,000 41,184,872 25,070,616 25,750,855 32,077,398 26,613,025 265,180,138GRAND TOTAL 23,101,357 27,316,941 22,380,146 24,229,988 17,454,940 Report criteria: Active Projects All Address data All Categories All Departments All Contacts All From Street data All Priority Levels All Projects All Source Types All Street Name data Wednesday, November 6, 20192020-2029 Draft Capital Improvement Plan Study session meeting of November 12, 2019 (Item No. 2) Title: 2020 budget and capital improvement plan update Page 45 Meeting: Study session Meeting date: November 12, 2019 Discussion item: 3 Executive summary Title: Annual TIF district management report Recommended action: No formal action required. This is an annual update. Policy consideration: •Does the city council/EDA have any questions or concerns regarding the status of the tax increment financing (TIF) districts within the city? •Is the city council/EDA supportive of capturing a portion of tax increment generated by the districts to utilize for qualified affordable housing uses associated with the city’s affordable housing trust fund, beginning with modifying the TIF plan budgets for the Wolfe Lake and Ellipse TIF districts? •What other information would be helpful for the city council/EDA regarding the city’s TIF districts? Summary: For many years, staff along with representatives from Ehlers, municipal advisor for the city and EDA, have presented the city council/EDA with an annual report regarding the status of the city’s TIF districts. Stacie Kvilvang with Ehlers, Inc., the city’s/EDA’s financial consultant, and staff will be discussing the attached report with the city council/EDA at a high level. The purpose of the report is to review the status, financial condition, debt management and future value of the city’s tax increment districts. Information contained in this report is obtained from various sources, including, but not limited to: the City of St. Louis Park, Hennepin County, State of Minnesota, Office of the State Auditor and Ehlers. Portions of the information in the report are used by staff throughout the year to provide a quick reference guide when performing analyses and making recommendations to the city council/EDA. The report also describes the revenues generated from each TIF district and presents recommendations to consider, including the potential capture of tax increment to be utilized for qualified affordable housing uses associated with the city’s affordable housing trust fund and in line with the city’s strategic goals. Financial or budget considerations: A portion of the existing TIF districts may be captured to advance the city’s goal of increasing and maintaining the supply of affordable housing. And by updating the information contained in the report each year, staff can have an excellent resource when analyzing data or preparing financial information to ensure a comprehensive picture for the city council, EDA or end users of information. Strategic priority consideration: St. Louis Park is committed to providing a broad range of housing and neighborhood oriented development. Supporting documents: Management review and analysis – TIF districts Prepared by: Greg Hunt, economic development coordinator Reviewed by: Karen Barton, community development director Approved by: Tom Harmening, city manager, EDA executive director November, 2019 Management Review & Analysis Tax Increment Financing Districts Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 2 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 2 Table of Contents Management Review and Analysis ........................................................................................................................ 4OVERVIEW ......................................................................................................................................................................................... 4 TIF DISTRICT SUMMARY .................................................................................................................................................................. 5 OBLIGATIONS OF THE TIF DISTRICTS ............................................................................................................................................ 8 ADMINISTRATIVE EXPENSES ........................................................................................................................................................ 15 ASSUMPTIONS ................................................................................................................................................................................ 16 RECOMMENDATIONS ..................................................................................................................................................................... 17 Tax Increment Financing Districts ....................................................................................................................... 23VICTORIA PONDS ............................................................................................................................................................................ 23 PARK CENTER HOUSING ............................................................................................................................................................... 27 ZARTHAN AVENUE/16TH STREET .................................................................................................................................................. 33 MILL CITY ......................................................................................................................................................................................... 42 PARK COMMONS ............................................................................................................................................................................ 48 EDGEWOOD .................................................................................................................................................................................... 60 WOLFE LAKE COMMERCIAL REDEVELOPMENT ......................................................................................................................... 66 AQUILA COMMONS ......................................................................................................................................................................... 72 ELMWOOD VILLAGE ....................................................................................................................................................................... 78 HIGHWAY 7 CORPORATE CENTER ............................................................................................................................................... 91 WEST END ..................................................................................................................................................................................... 101 ELLIPSE ON EXCELSIOR .............................................................................................................................................................. 109 HARDCOAT .................................................................................................................................................................................... 118 ELIOT PARK ................................................................................................................................................................................... 124 THE SHOREHAM ........................................................................................................................................................................... 130 4900 EXCELSIOR ........................................................................................................................................................................... 137 WAYZATA BOULEVARD (PLATIA PLACE) ................................................................................................................................... 144 ELMWOOD APARTMENTS ............................................................................................................................................................ 147 WOODDALE STATION ................................................................................................................................................................... 151 BRIDGEWATER BANK ................................................................................................................................................................... 155 City Map of the TIF Districts ............................................................................................................................... 159Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 3 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 3 This page left intentionally blankStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 4 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 4 Management Review and Analysis OVERVIEW Tax increment is a financing tool authorized by state law, that allows an authority to capture and use most of the increased local property tax revenues from new development within a defined geographic area for a defined period of time. In general, tax increment revenues are used to pay for eligible project costs which encourage creation or retention of jobs, redevelop blighted areas or polluted sites and construction of affordable housing. Revenue from tax increment financing (TIF) districts is a financial asset of the City of St Louis Park. This revenue tool allows the City to address blight, contamination, housing or redevelopment needs for the parcels in the TIF district for a specified period of time. The revenue generated is first used to pay debt service on outstanding bonds, interfund loans and developer pay-as-you-go notes (PAYGO). A portion, but not all, of the remaining revenues can be used to participate in other eligible development projects and City initiatives. Over the years, the City utilized unobligated revenues from older TIF districts to complete the following projects:  Park Commons property assembly and public improvements  Excelsior Boulevard streetscape improvements  Excelsior Boulevard bridge improvements  Reilly tar clean-up activities  Highway 7 and Louisiana Avenue storm water intersection improvements  Louisiana Court Rehabilitation  Erv’s Garage redevelopment  Bikemasters (Construction Assistance Program)  Hardcoat (Construction Assistance Program)  Home Hardware Store (Construction Assistance Program)  Projects related to Southwest Light Rail Transit (SWLRT)  Fiber optic infrastructure The factors that produce tax increment revenues change every year. At the same time, the state property tax laws have changed significantly since 1997, including the major reforms enacted in 2001. Despite reductions in revenue due to the reform, the City has more than adequate cash flow to pay for all outstanding general obligation tax increment bonds. A few of the TIF districts for which project costs were paid through a developer Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 5 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 5 financed PAYGO will be fully paid by the end term of the obligations. Overall, the City has no obligation to make up shortfalls for these PAYGO notes, since they are revenue-based notes and the risk is borne by the developer. In addition to property tax reform of 2001, significant changes enacted by the Legislature in 1990 have changed the way that cities can utilize TIF for development. The Office of the State Auditor (OSA) has a TIF division which is mandated by state law to collect annual reporting forms and, if necessary, audit the use of TIF. Such audits could result in a letter to the county attorney or attorney general for enforcement actions. To date the City has not been audited. Due to legislative and market changes and oversight of TIF districts by the OSA, the management of the City’s TIF districts is an ongoing activity. Ehlers worked with City staff to create the following plan for the management of its TIF districts and their related obligations. TIF DISTRICT SUMMARY Currently the City has one inactive (Victoria Ponds) and twenty active TIF districts, and one HSTI District (Hwy 7 Corporate Center). Overall the makeup of the types of districts is as follows: Type of DistrictNumberEconomic Development1Housing2HSTI Sub District1Redevelopment15Renovation and Revewal1Soils1TOTAL21* Actual number is 20 districts as the HSTI district is a subdistrict These districts are outlined in the charts that follow on the next two pages. A more detailed explanation of each district can be found starting on page 22. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 6 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 6 VictoriaParkZarthan/ MillParkAquilaElmwoodHighway 7 CorporatePondsCenter16th AvenueCityCommonsCommonsVillageCenter & HSTIDistrict TypeRedevelopmentHousingRedevelopmentRedevelopment Redevelopment Soils Condition Redevelopment Housing Renewal and RenovationRedevelopment and Hazardous Substance SubdistrictProject/Costs Financed72 twin home units and part of the Hutchinson Spur trail. Financed $760,000 soil corrections and remediation and $700,000 of City costs for trail improvements91 units of senior assisted living rental housing. Financed $500,000 land acquisitionTwo hotels developed by CSM and 86 townhome units built by Rottlund. Financed $3,945,000 land acquisition and site improvements200 rental housing units developed by MSP Real Estated. Financed $3,531,900 developer site costs.Excelsior and Grand retail, office and rental housing and condos developed by TOLD. Financed $3.5M in public improvements and $15.55M in site and parking ramp costs79,000 s.f. office warehouse facility developed by Real Estate Recycling (CPD Edgewood Investors). Financed $600,000 soils and clean‐up costsTwo office/commercial buildings consisting of 65,000 s.f. developed by Beltline Industrial Park, Inc. Financed $996,000 soils and site condition costs.122 unit limited equity senior cooperative developed by Stonebridge. Financed approximately $1,000,000 land acquisition costs.Rottlund ‐ 224 townhomes and condos near Wooddale and Highway 7. Financed approximately $790,000 in site and land costs. Hoigaards ‐ 74 condos over 25,000 sq/ft of retail, 220 apartments. Financed $3,495,000 and $935,000 in 2010 TIF revenue bonds for site and land costs. 100 sr. apartmenst and 22 town homes. Financed $1M in site and land costs. Grecco ‐ 115 senior rental units over 10,000 sq/ft of retail. Financed $490,000 in site and land costs.Created to provide funding to clean up and cap contaminated land and the subsequent construction of a 78,000 s.f. multi tenant office/warehouse buildingApproved4/1/199610/7/199612/20/19993/20/20001/16/20019/15/20037/7/20039/7/20048/2/20045/15/2006Legal max term12/31/202312/31/202312/31/202612/31/202612/31/202712/31/202512/31/2031 12/31/203212/31/202912/31/2032Anticipated termDecertified12/31/202312/31/202612/31/202612/31/202712/31/201912/31/2031 12/31/203212/31/202912/31/2028First Increment1998199820012001200220052006200720072007Current ObligationsNone None$1,101,362 PAYGO Note 1 $1,448,088 PAYGO Note 2 and $1,395,547 PAYGO Note 3$3,531,853 PAYGO Note$3,145,046 interfund loan $3,500,000 Phase I PAYGO Note, $3,300,715 Phase E PAYGO Note, $4,668,633 Phase NE PAYGO Note, $4,079,105 Phase NW PAYGO Note$600,000 PAYGO Note$996,000 PAYGO Note$1,050,000 PAYGO NoteHoigaards ‐ 2010A TIF Revenue Bonds ‐ $3,495,000, 2010B TIF Revenue Bonds ‐ $935,000, Adagio-$820,000 PAYGO Note, and Medley- $200,000 PAYGO Note Grecco - $490,000 PAYGO and IFL ‐ $3,298,200 PAYGO Notes - Note A $2,100,000 Note B $360,000 Note C $72,000 and Note D $23,000Other Obligations$400,000 for ERV's garage redevelopment$500,000 Loan to Lousisana Ct to buy down bondsNoneNoneNoneNoneNoneNoneNoneNoneContruction Assistance Program (CAP) Funding$500,000 for Hardcoat (former Flame Metals property. Portion will be repaid from new ED TIF district) and $25,000 to CAR Properties LLC (former Home Hardware Store)NoneNone$70,000 to CKJ Properties (former Bikemasters property)NoneNoneNoneNoneNoneNone2019 Est TIF RevenueN/A$180,011$521,009$580,634$2,761,066$60,394$146,021$210,341$2,010,071$142,194Fiscal DisparitiesA (outside) A (outside) B (inside) B (inside)A (outside)B (inside)B (inside)B (inside)B (inside)B (inside)County Number130313041305/13061307130813091310131113121313CategoryEdgewood Wolfe Lake Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 7 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 7 Ellipse on ExcelsiorDistrict TypeRedevelopmentRedevelopment Economic Development Redevelopment Redevelopment Redevelopment Redevelopment Redevelopment RedevelopmentRedevelopmentProject/Costs FinancedMajor mixed use redevelopment (office, retail, hotel, entertainment, housing, hotel) developed by Duke Realty. Financed $21,100,000 site costs and up to $5,000,000 City public improvements Ellipse I ‐ 132 Market Rate Apartments and 16,000 s.f. commercial and Ellipse II ‐ 58 Units of MarketRrate ApartmentsAcqisition and renovation of a 33,600 sq/ft manufacturing facility and construction of 1,500 sq/ft of officeRedevelopment of the Eliot School site into 138 market rate apartments and 2 single-family homesRedevelopment of 5 parcels into 148 apartments with 20% of the units affordable at 50% of the AMI and 20,000 sq/ft of retail/office spaceRedevelopment of the former Bally's site into 164 apartments with 10% of the units affordable at 60% of AMI and a 28,000 sq/ft grocery storeRedevelopment of 2 parcels into a 100 room hotel and 149 unit apartment and/or office buildingRedevelopment of 1 parcel into 70 agre restricted apartment units with 20% of units reserved for 60% of AME and 4,400 sq/ft of retailRedevelopment of 10 parcels into a 110-room hotel, 299 apartment units (200 affordable units) and 16,261 sq/ft retail, 10,800 sq/ft e-generation facility and structured parkingRedevelopment of 3 parcels into the Headquarters for Bridgewater Bank (38,967 sq/ft), Bank Facility (7,152 sq/ft ), 19,775 sq/ft of office and 7,530 sq/ft of retailApproved11/19/20072/2/200912/20/20105/6/20138/17/201511/16/20153/21/20165/15/20175/1/20177/16/2018Legal max term12/31/203612/31/203612/31/202212/31/204112/31/204312/31/204412/31/204512/31/204512/31/204512/31/2045Anticipated term12/31/203612/31/203612/31/202212/31/204112/31/204312/31/204412/31/204512/31/204512/31/204512/31/2045First Increment2011201120142016201820182020201920192020Current Obligations$1,230,000 Note A - PAYGO and $220,000 Note B ‐ PAYGO $686k Ellipse II Paygo Interfund Loan from Development Fund$115,000 Interfund Loan from Victoria Ponds TIF District$1.1 Million PAYGO Note$1.2 Million PAYGO Note$2.6 Million PAYGO Note$714,000 Hotel Note - PAYGO and $2,760,000 Apartment Note ‐ PAYGO $950,000 PAYGO Note$5,660,000 PAYGO Note$950,000 PAYGO NoteOther ObligationsNone None None None None None None None None NoneContruction Assistance Program (CAP) FundingNone None None None None None None None None None2019 Est TIF Revenue$2,691,612$666,758$23,823$451,585$600,989N/AN/AN/AN/AN/AFiscal DisparitiesB (inside) B (inside) B (inside) B (inside) B (inside) B (inside) B (inside) B (inside) B (inside) B (inside)County Number1314131513161318/1319132013211322132313241325Eliot ParkThe Shoreham4900 ExcelsiorWayzata BlvdBridgewater BankElmwood Apts Wooddale StationHardcoatWest EndCategory Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 8 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 8 OBLIGATIONS OF THE TIF DISTRICTS The revenues from these districts are largely site specific, meaning that the revenues are restricted by law and by contract with the developers. The revenues must be used primarily to address blight, contamination, housing or redevelopment needs for the parcels in the TIF district within a specified period of time. The City has the following obligations outstanding (after the August 1, 2019 actual bond and PAYGO payments were made): Summary of Outstanding Obligations (after the 8/1/2019 payment) DistrictNoteOutstanding After 8/1/2019Total By TIF DistrictIssueAmount Paying District TermNote A 855,284$ 2008B GO Tax Increment Bonds2,560,000$ West End2/1/2024Note B146,620$ 2010A Tax Increment Revenue Bonds - Hoigaards 1,480,000$ Elmwood2/1/2023Note C80,363$ TOTAL5,385,635$ N/AN/ANote D25,672$ Wolfe LakeBeltline46,698$ 46,698$ Excelsior & Grand2,339,941$ Phase NE4,570,336$ Phase E4,072,501$ Phase NW4,405,731$ Mill CitySLP Apts 3,294,815$ 3,294,815$ CSM Note 1 1,218,476$ CSM Note 21,750,836$ Rottlund Note 3695,170$ West EndDuke Realty 20,909,528$ 20,909,528$ Ellipse on ExcelsiorEllipse II LLC156,169$ 156,169$ Eliot ParkWeidner365,725$ 365,725$ The ShorehamBader Development589,434$ 589,434$ 4900 ExcelsiorWeidner2,800,000$ 2,800,000$ 714,000$ 2,760,000$ Wooddale StationPLACE5,660,000$ 5,660,000$ Elmwood Apartments36th Street LLC950,000$ 950,000$ Bridgewater BankBridgewater Bank950,000$ 950,000$ TOTAL 59,357,300$ Zarthan3,664,483$ Bonds After 8/1/2019Pay As You Go ObligationsHwy 7 Corporate Center $ 1,107,939 Park Commons15,388,510$ Wayzata BoulevardPlatia Place - SLP Park Ventures LLC3,474,000$ Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 9 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 9 Construction Assistance Program In 2009, the Legislature passed the JOBS Bill and extended it for one year as part of the 2010 legislative session. One element of this was the temporary authority to stimulate construction. This portion of the legislation allowed cities to utilize cash balances in existing TIF districts (not needed to pay debt service on outstanding obligations) to spur new construction or substantial rehabilitation of private buildings and ancillary facilities, if construction commenced by July 1, 2012 and the dollars expended by December 31, 2012. On July 19, 2010, the EDA approved a Construction Assistance Program (CAP) and at a public hearing, adopted the required Spending Plan. The TIF districts that utilized funding for CAP were:  Victoria Ponds  Park Center Housing  CSM  Mill City  Edgewood  Wolfe Lake  Aquila Commons  Elmwood Village (Rottlund portion of TIF only) Three projects were funded through the CAP program – Hardcoat (former Flame Metals building), CKJ Properties LLC (former Bikemasters building) and CAR Properties LLC (former Home Hardware Store). The EDA provided $500,000 to Hardcoat to purchase and renovate the former Flame Metals property within the City. Hardcoat renovated the building and site, constructed a small addition, and relocated its operations there. The existing industrial building is approximately 33,600 square feet and was constructed in 1963. Both the interior and exterior had numerous building code deficiencies. Following Flame Metals’ departure in 2009, the building’s interior was emptied, thoroughly cleaned, repainted, and code deficiencies were addressed. The project includes a complete renovation of both the interior and exterior of the building and an addition on the north side of the building. Renovation included a new roof, new exterior facelift, new windows and dock doors, new offices and interior spaces, new electrical and plumbing systems, new energy efficient HVAC equipment, new parking lot and landscaping, rain gardens and site amenities, as well as the construction of a 1,500 SF addition for office/conference space. Hardcoat initially occupied approximately 25,000 square feet of the building. The balance has been Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 10 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 10 leased to a complementary business and will provide Hardcoat with future expansion capacity. The $500,000 in funding for this project came from the Victoria Ponds TIF district. In addition, the EDA created an economic development TIF district on December 20, 2010 for the project to repay as much of the CAP funds back to this district. The EDA provided $70,000 to CKJ Properties LLC to renovate the former Bikemasters building within the City. The 18,000 s.f. building, constructed in 1950 was neglected and fell into disrepair. As a result, the building sustained damage due to lack of maintenance and vandalism. The building went into foreclosure in 2009 year and was purchased in September 2010 by CKJ Properties LLC. The project included a complete renovation of both the interior and exterior of the building. Renovation included new windows and doors, new bathrooms, new flooring and carpeting, new ceilings, new electrical and plumbing systems, new energy efficient HVAC equipment, new dock doors and downspouts, as well as interior and exterior painting, landscaping, parking lot resurfacing and striping, and screening of outdoor dumpsters. The property is currently leased to six (6) office tenants. The $70,000 in funding for this project came from the Mill City TIF district. The City provided $25,000 to CAR Properties LLC. to renovate the former Home Hardware Store. The building is located in the historic Walker Lake area near the intersection of Wooddale and West Lake Street. It was originally constructed in the 1950’s within a strip of commercial buildings and had always been a hardware store. Despite its use as a former hardware store, the building was neglected for some time. CAR Properties made the required repairs and renovated the building. Renovation included a new roof, front window, energy efficient HVAC equipment, as well as remodeling the bathroom and making other various repairs so as to make the building code compliant. Upon renovation the property was leased to another commercial tenant. The $25,000 in funding for this project came from the Victoria Ponds TIF District. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 11 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 11 TIF as a Development Tool Continuous redevelopment is vital to maintaining the City’s long-term economic health and vitality. St Louis Park has judiciously utilized TIF for key redevelopment and housing projects since 1972 when the Oak Park Village TIF District was established. Utilizing this tool to accomplish the various community development goals of the City has optimized land uses, strengthened the tax base, diversified housing options, while cleaning up contaminated sites and increasing employment opportunities. One immediate benchmark of the benefit of utilizing TIF is the overall increase in market value from when the district was created to when it is fully developed and aging. As indicated in the following table, the overall market value of the City’s TIF district portfolio has increased by over 1100%: DistrictCounty District Number Original Market ValuePay 2019 Taxable Market ValuePercent Increase in ValuePark Center1304$493,000$12,230,0002480.73%Zarthan1305 and 1306$4,053,600$41,873,1541032.99%Mill City1307$708,700$38,000,0005361.93%Park Commons1308$4,618,000 $204,217,0534422.20%Edgewood1309$1,000,000$4,750,000475.00%Wolfe Lake1310$1,717,300$10,859,000632.33%Aquila1311$1,900,000$20,220,5281064.24%Elmwood1312$10,864,500 $164,631,0531515.31%Highway 7 Business Center1313$2,792,700$8,664,000310.24%West End (Partial Construction)1314$43,051,000 $245,758,000570.85%Ellipse 1315$1,931,800$51,397,0002660.58%Hardcoat1316$1,184,700$2,615,700120.79%Eliot Park 1318/1319$2,143,000$31,480,3001468.98%The Shoreham 1320$2,476,200$40,788,0001647.20%4900 Excelsior (Partial Construction)1321$2,404,000$34,571,0001438.06%Wayzata Boulevard 1322$2,331,000$2,331,0000.00%Elmwood Apartments 1323$1,100,000$1,366,000124.18%Wooddale Station1324$7,100,000$7,100,0000.00%Bridgewater Bank 1325$4,172,400$4,172,4000.00%TOTALN/A$96,041,900 $927,024,1881121.31%Note: % increase in value excludes the 4 districts where construction hasn't commenced or value realized Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 12 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 12 Due to the age of the City, the majority of the TIF districts created were redevelopment districts which have a 26-year term. However, most of the City’s Districts do not extend to the entire term as noted in the chart below: DistrictYear Established Term of District# of Years of TIF Based Upon Obligation Being Paid OffDifferenceZarthan19992622‐4Mill City20002622‐4Park Commons20012625‐1Edgewood200320211Wolfe Lake20032613‐13Aquila20042612‐14Elmwood Village200426260Highway 7 Business Center20062622‐4West End (Partial Construction)20072620‐6Ellipse 20092610‐16Hardcoat2010990Eliot Park 20132616‐10The Shoreham 2015264‐234900 Excelsior 2015268‐18Wayzata Boulevard (Under Construction) 2016 26 9‐17Elmwood Apartments (Under Construction)2017268‐19Wooddale Station (No Consturction Yet)20172615‐11Bridgewater Bank (Under Construction)20172611.5‐14.5AVERAGEN/A24.7215.14‐9.58AVERAGE LAST 10 YEARSN/A24.3010.95‐13.35AVERAGE LAST 5 YEARSN/A26.0010.07‐15.93 As noted, since 1999, the average term of the TIF districts is approximately 15 years. In the last 5 years, the average has declined to approximately 10 years. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 13 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 13 While there are undoubtedly many benefits to utilizing TIF as a development tool, cities still wonder if they are utilizing the tool too much or not enough. One good way to measure a city’s use of TIF is to compare the use of TIF with similar cities. A common measure of the use of TIF is the percentage of the gross tax base captured in TIF districts. Below is a chart which demonstrates the City’s current and projected tax base which is captured in TIF districts with similar cities, as shown on the following page. City of St. Louis ParkProjected Captured TIF Tax Capacity and Comparison with Other CitiesCity of St. Louis Park2016 2017 2018 20192020 2021 2022 2023 2024Park Center-1304 116,765 133,828 139,228144,515 145,960 147,420 148,894 150,383 0Zarthan-1305/1306 366,255 377,405 408,163 419,982 424,182 428,424 432,708 437,035 441,405Mill City-1307 362,326 424,401 453,641 466,141 470,802 475,510 480,266 485,068 489,919Park Commons-1308 1,883,220 2,277,376 2,230,111 2,327,335 2,350,608 2,374,114 2,397,856 2,421,834 2,446,052Edgewood-1309 54,178 51,923 49,321 50,117 0 0 0 0 0Wolfe Lake-1310 110,708 106,605 110,527 121,173 132,200 144,230 157,355 171,674 187,296Aquila Commons-1311 146,560 159,581 170,473 184,737 186,584 188,450 190,335 192,238 194,160Elmwood-1312 1,524,465 1,621,959 1,725,298 1,765,394 1,783,048 1,800,878 1,818,887 1,837,076 1,855,447Highway 7 Business Center-1313 94,441 91,01578,272 79,537 80,332 81,136 81,947 82,767 83,594Highway 7 Subdistrict-1313 53,504 53,504 53,504 53,504 54,039 54,579 55,125 55,676 56,233West End-1314 1,572,217 2,084,801 2,114,759 2,621,257 2,647,470 2,673,9442,700,684 2,727,691 2,754,967Ellipse on Excelsior-1315 444,092 535,561 546,235 620,639 677,117 738,735 805,960 879,302 959,318Hardcoat-1316 17,093 16,887 19,314 19,626 19,822 20,020 20,221 0 0Eliot Park-1318/1319 52,201 277,040 345,732 364,571 368,217 371,899 375,618 379,374 383,168The Shoreham - 1320 0 301,653 482,482 487,307 492,180 497,102 502,073 507,0934900 Excelsior - 1321 0 0 0 405,085 409,136 413,227 417,359 421,533 425,748Wayzata Blvd - 1322 0 0 0 0 210,462 451,240 455,752 460,310 464,913Elmwood Apartments - 1323 0 0 0 3,555 3,591 3,626 3,663 3,699 3,736Wooddale Station - 1324 0 0 0 0 0 504,858 509,906 515,006 520,156Bridgewater Bank - 1325 0 0 0 0 0 99,880 100,879 101,888 102,906Captured TIF Tax Capacity 6,798,0258,211,886 8,746,231 10,129,650 10,450,877 11,464,352 11,650,515 11,824,626 11,876,115Total Tax Capacity (Gross) 71,733,485 77,974,751 82,002,664 88,770,448 96,848,559 105,661,778 115,276,999 125,767,206 137,212,022Percentage of Tax Base in TIF 9.5% 10.5% 10.7% 11.4% 10.8% 10.9% 10.1% 9.4% 8.7%Assumes 1% annual increase in tax base and TIF beginning in payable 2020ActualProjected Today, the City’s use of TIF is a bit higher to other first ring suburbs, however historically shorter terms of assistance in your TIF districts mitigates this. Overall, this amount of use is expected given that St Louis Park is fully developed and portions are in need of redevelopment. Also shown are comparable cities’ tax rates and bond ratings. Although this is a small sample of municipalities, the amount of TIF used by a City does not seem to Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 14 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 14 correlate directly with a City’s tax rate or bond rating. In conversations with rating agencies, we do know that market value growth and redevelopment are important factors in maintaining St Louis Park’s AAA bond rating. Following is a table which demonstrates the historical market value growth of St. Louis Park. ComparableFinal Pay 2019CityCityCaptured TIF as a % of Tax Base City Tax Rate Bond RatingBrooklyn Park1.6%51.869%AA+Golden Valley1.7%53.780%AaaBloomington2.6%40.045%Aaa/AAAMinnetonka2.7%34.676%AaaEdina3.5%27.380%Aaa/AAAMinneapolis7.6%57.312%Aaa/AAAHopkins9.0%70.172%AA+Richfield9.4%53.275%Aa2St. Louis Park11.4%44.706%AAANew Brighton11.6%40.589%AAFinal Pay 2019 Tax YearTaxable Percent ChangePayable Market Value From Prior Year20197,037,442,189 8.50%20186,486,028,398 5.65%20176,138,955,694 8.47%20165,659,666,031 7.95%2015 5,242,685,184 6.68%2014 4,914,404,312 0.48%2013 4,891,018,550 -2.54%2012 5,018,306,562 -5.61%2011 5,316,617,000 -4.40%2010 5,561,557,200 -1.39%2009 5,639,683,900 1.49% Tax YearCityPercent ChangePayableTax Rate From Prior Year201944.706-7.06%201848.1014.11%201746.2000.01%201646.195-3.26%201547.754-1.68%201448.5700.71%201348.2285.60%201245.6725.54%201143.27611.44%201038.8341.06%200938.4266.43% The above two tables show the history for St Louis Park’s taxable market value and the City’s tax rate. Factors such as total general and debt levy needs, State law and economic factors will influence both the market value and the corresponding tax rate. A correlation cannot always be made when considering market value, tax rate and total tax capacity captured by tax increment districts. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 15 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 15 ADMINISTRATIVE EXPENSES Minnesota TIF law defines certain costs to administer and maintain the district as allowable costs that can be paid for from tax increment revenues. These generally include City staff time, legal expenses, financial advisory expenses and publication and reporting expenses. This allows a City to defray documented staff time that is most likely a General Fund expense, such as staff time in Finance, Community Development, Assessing and Administration. Time spent can be paid for from TIF revenues rather than general property tax or other revenues. The tables below compare the statutorily calculated percent of administrative costs used to date with the maximum allowable statutory admin. The tables also include an estimate of the yearly amount of documented admin that can be charged to the district without exceeding this limit. An adjustment was made to admin in the Hardcoat TIF in 2017 because it exceeded the maximum allowable and admin is no longer being charged to this District. TIF Admin Budget$200,000 $1,000,000 $1,000,000 $7,500,000 $167,000 $129,000 $727,712 $500,000Statutory Limit10%10% 10% 10% 10% 10% 10%10%Actual Admin Used to Date$133,789 $146,261 $87,847 $133,844 $39,097 $50,592 $53,208 $253,024Yearly Admin Estimate$3,836 $7,143 $5,026 $10,985 $1,086 $7,121 $5,796 $1,427Statutory % Used to Date7.30% 2.90% 2.20% 0.70% 6.20% 3.40% 3.30% 4.80%Zarthan/16th AvenueMill CityPark CommonsAquila CommonsDistrictPark CenterEdgewood Wolfe LakeVictoria Ponds TIF Admin Budget$4,410,000 $418,105 $14,391,490 $1,105,830 $167,000 $37,619 $982,537 458,743$ Statutory Limit10% 10% 10% 10% 10% 10% 10% 10%Actual Admin Used to Date$353,507 $61,845 $172,906 $50,525 $39,097 $18,729 $32,626 18,174$ Yearly Admin Estimate$21,275 $4,870 $12,637 $7,426 $1,086 $0 $4,714 4,366$ Statutory % Used to Date3.10% 4.00% 2.10% 2.30% 6.20% 23.30% 8.00% 5.80%DistrictThe ShorehamEliot ParkWest End HardcoatElmwood VillageHighway 7 Corporate Center & HSTIEllipse on ExcelsiorEdgewood Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 16 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 16 ASSUMPTIONS Before discussing the recommendations of the current TIF analysis, it is important to understand the assumptions used in making these projections. 1. Fund Balances. Fund balances shown for debt service funds are based on actual audited amounts for December 31, 2018. 2. Tax Increment. Pay 2019 tax increment revenues are based upon Hennepin County reports. 3. Projected Revenues. Projected revenues do not account for additional development (except the developments under a development agreement) or inflation/decrease of existing values. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 17 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 17 RECOMMENDATIONS The updated financial analysis of the City’s TIF Districts offers the following recommendations: 1. Pooling. Four (4) of the redevelopment districts have cash balances within them due to funds not being fully utilized for administration or other projects within or outside the district. Following is a chart outlining six (6) districts that have cash balances available for pooling as of September 30, 2019. Staff recommends that the cash balances under redevelopment be utilized to pay for acquisition/demolition of blighted property, environmental remediation and/or public infrastructure costs associated with redevelopment. TIF District Cash Balances Currently Available for Legal Pooling DistrictSeptember 30, 2019 Cash BalanceType of Project EligibleAfter 8/1 PmtsPark Center Housing ** 302,570$ Aquila Commons 276,017$ Total Affordable Housing578,587$ Zarthan 25,452$ Victoria Ponds 44,126$ Mill City 36,191$ West End 377,051$ Total Redevelopment 482,820$ **-City Council has directed that available increment from the Park Center districtbe allocated to the Housing Rehab fund for eligible housing projectsRedevelopmentAffordable Housing The balances in the chart on the following page are based on the projections, which include all obligations that have been issued and any current projects. The balances will change as future projects are identified and funded. Following is a chart outlining various districts projected to have some cash balances available for pooling at the end of their term: Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 18 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 18 TIF Balances Available For Legal Pooling at End of District, If Current Available Pooling Is Not Used DistrictEnd Date of ObligationCumulative Pooling AvailableType of Project EligibleVictoria Ponds 2013 122,899$ RedevelopmentZarthan2023 741,489$ RedevelopmentMill City 2019 229,602$ RedevelopmentPark Commons 2028 2,269,064$ RedevelopmentWolfe Lake 2020 46,622$ RedevelopmentEllipse 2022 215,037$ RedevelopmentAquila Commons 2018 3,014,777$ Affordable HousingWest End 2031 1,044,940$ RedevelopmentHwy 7 Corporate Center 2027 99,491$ RedevelopmentEliot Park 2021 147,465$ Redevelopment As noted, several of the TIF districts will have significant cash balances at the end of their term. In general, 20%-35% of tax increment may be used outside the boundaries of a TIF district in accordance with applicable law, which governs the amount and the purpose for which it can be used. The allowable amount and use are restricted based on TIF district type. In the detailed discussions of each TIF district that follows, there is a general description regarding the percent and the use allowable. 2. Use of Park Commons TIF after Interfund Loan (IFL) and Excelsior and Grand Notes are repaid. It is anticipated that the IFL will be repaid on February 1, 2021. Approximately $279,000/year was being applied to repayment on this obligation. Starting with the August 1, 2021 payment, this amount will be utilized on a prorated basis to repay the Phase Notes. In addition, it is anticipated that the Excelsior and Grand Note will be repaid on February 1, 2022. Approximately $1 million/year was being applied to repayment on this obligation. Starting with the August 1, 2022 payment, this amount will be utilized on a prorated basis to repay the Phase Notes. 3. Aquila Commons District. The TIF Note for this housing district was paid off on August 1, 2018. Due to the on-going need to fund the City’s single-family, owner-occupied housing rehab program (to income qualified residents), the current policy around inclusionary housing and the EDA’s/Council’s expressed desire to retain naturally occurring affordable housing (NOAH), the City/EDA has determined to allow the District to Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 19 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 19 remain open through its termination (December 31, 2032). The existing fund balance and the TIF generated in the future (approximately $210,000 annually) needs to be utilized to pay eligible costs for “housing projects” as defined by MS 469.174, Subd. 11, located anywhere within the City limits. A housing project is a rental or owner-occupied housing development intended for occupancy by low and moderate-income families. The income guidelines are defined in MS 469.1761 as follows: Rental Housing: 20% of the units occupied by families at 50% of median income (20/50) or 40% of the units occupied by families at 60% of median income (40/60). Owner Occupied: Assistance to homeowners with an income at or below 100% of the median income for a family of two or less or 115% of the median income for a family of three or more. Typically, TIF is utilized for capital expenditures, but may be used for non-capital expenditures on a limited basis. Examples of potential rental housing projects would include: 1. New affordable rental housing as part of redevelopment (20/50 or 40/60 election) 2. Renovation of an existing rental housing development (20/50 or 40/60 election) 3. Providing subsidy to an existing project that is earmarked for additional affordability (20/50 or 40/60 election) Examples of potential owner-occupied projects would include: 1. Site acquisition and demolition for infill lots that will be sold for new housing construction 2. Acquisition of foreclosed homes for resale to income qualified buyers 3. Rehabilitation loans for home improvements (including HIA owners) 4. Second mortgages to qualified home buyers 4. Edgewood TIF District. The TIF Note for this soils district was paid off on August 1, 2019. We recommend that this District be decertified by year end 2019 due to final payment of the outstanding obligation. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 20 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 20 5. Special Pooling Provision for Tax-Credit Eligible Rental Housing. Minnesota Statutes, Section 469.1763, subdivision 2(d), allows the EDA/City to pool up to an additional 10% above the standard allowable limit for rental housing that meets low-income housing tax credit requirements (the projects do not need to receive tax credits, they just need to be tax credit eligible, meaning they are both rent and income restricted). These funds can be used to pay credit-eligible costs for tax credit eligible rental projects. Eligible uses include acquisition and site preparation, construction, rehabilitation and public improvements directly related to the housing, as long as these costs were not funded through tax credits (does not apply if all eligible expenses are funded through tax credits). The funds can be spent anywhere within the City and do not need to be located within a Project Area. The income and rent guidelines are defined as follows: Rental Housing: 20% of the units occupied by families at 50% of median income (20/50) or 40% of the units occupied by families at 60% of median income (40/60) and rents for all the income-restricted units must not exceed 30% of the applicable income limit For a redevelopment district the total pooling may be up to 35%. This pooling, pursuant to Minnesota Statutes, Section 469.176 subdivision 4k, can be done without regard to project area/development district limitations. The EDA/City would not implement this pooling until the obligations in the various TIF districts are paid off since typically 95% of the TIF is pledged to the obligation. The EDA/City has determined to utilize this authority from the following TIF districts: DistrictEnd Date of ObligationEnd Date of DistrictType of DistrictZarthan2022 2026RedevelopmentMill City 2022 2026RedevelopmentWolfe Lake 2019 2031 RedevelopmentWest End 2031 2036 RedevelopmentEllipse 2019 2036 RedevelopmentEliot Park 2020 2041 RedevelopmentThe Shoreham 2021 2043 Redevelopment4900 Excelsior TBD 2044 RedevelopmentWayzata BoulevardTBD 2045 RedevelopmentElmwood Apartments TBD 2045 RedevelopmentWoodale StationTBD 2045 RedevelopmentBridgewater BankTBD 2045 RedevelopmentStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 21 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 21 On an annual basis going forward, the EDA/City will retain 35% of the TIF and return the remaining 65% to the County to redistribute it to the City, County and School District, after the obligations are paid off within each district as noted above. The chart that follows illustrates the amounts that may be available for pooling for affordable housing over time. We recommend that the EDA/City begin to implement this program in 2019, starting with modifying the TIF plans (administrative modification) for Wolfe Lake and Ellipse TIF Districts. 4900YearlyYear Wolfe Lake Zarthan Mill CityEllipseEliot Park Shoreham West EndExcelsiorTotalCumulative2019‐ 202046,622 214,419 261,042 261,042 202146,613 214,364 146,001 406,978 668,020 202246,846 215,037 146,731 195,718 604,333 1,272,353 202347,080 165,360 179,007 216,112 147,465 196,697 951,722 2,224,075 202447,316 165,649 178,527 217,193 148,202 197,680 954,568 3,178,643 202547,552 165,939 179,420 218,279 148,943 198,669 958,802 4,137,445 202647,790 166,230 180,317 219,370 149,688 199,662 162,522 1,125,579 5,263,024 202748,029 ‐ 220,467 150,436 200,660 162,370 781,963 6,044,987 202848,269 ‐ 221,569 151,189 201,664 163,182 785,873 6,830,860 202948,510 222,677 151,945 202,672 163,998 789,802 7,620,663 203048,753 223,791 152,704 203,685 164,818 793,751 8,414,414 203148,997 224,910 153,468 204,704 ‐ 165,642 797,720 9,212,135 2032226,034 154,235 205,727 858,964 166,470 1,611,431 10,823,565 2033227,164 206,756 863,258 167,303 1,464,481 12,288,047 2034228,300 207,790 867,575 168,139 1,471,804 13,759,850 2035229,442 208,829 871,913 168,980 1,479,163 15,239,013 2036230,589 209,873 876,272 169,825 1,486,559 16,725,572 2037210,922 170,674 381,596 17,107,168 2038211,977 171,527 383,504 17,490,672 2039213,037 172,385 385,422 17,876,094 2040214,102 173,247 387,349 18,263,442 2041215,172 174,113 389,285 18,652,728 2042216,248 174,984 391,232 19,043,960 2043‐ 175,858 175,858 19,219,818 TOTAL 572,378 663,179 717,271 3,769,719 1,801,009 4,322,246 4,337,981 3,036,036 19,219,818 Pooling for Housing if budgets modified to allow for additional 10%POOLING FOR AFFORDABLE HOUSING Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 22 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 22 6. Payment of Administrative costs from the Hardcoat TIF District. This District is at its allowable admin amount (10%). The City has taken steps to remedy this situation and will refrain from charging any additional administrative costs to the District in the future. 7. Inclusionary Housing Annual Reporting. Both The Shoreham and 4900 Excelsior projects have affordable housing requirements to meet. Staff is working with the developers to ensure they are providing the city with the necessary compliance information. 8. Five Year Rule. MN Statute 469.1763 subdivision 3 requires that, within five years from certification date, funds must have been expended or obligated for projects within the TIF district. The State Legislature amended the five-year rule to increase it to ten years for districts that were certified on or after June 30, 2003 and before April 20, 2009. The following TIF districts have not yet reached their five-year rule deadline and should be monitored to avoid a lost opportunity for new projects within those district’s boundaries. District 5 Year Deadline The Shoreham * 4/18/2021 Wayzata Boulevard 7/1/2021 4900 Excelsior * 7/1/2021 Wooddale Station 6/30/2022 Elmwood Apartments * 6/30/2022 *Projects currently under construction We recommend paying special attention to the Wooddale Station District. This District has a current redevelopment contract with PLACE for a major mixed-use development on the site, but if that development does not occur and eligible costs are not incurred within four (4) years, the EDA/City would need to (i) decertify the District; or (ii) go to the Legislature and request an extension of the 5-year rule. 9. Six Year Rule. MN Statute 469.1763 subdivision 4 requires that beginning in year 6 of the district, the City must utilize a statutorily prescribed percent of the tax increment generated to pay obligations. An analysis was completed for Zarthan, Park Commons, Ellipse and the West End TIF Districts. The analysis found that all the districts are in compliance and expect to continue to be in compliance of the Six Year Rule. We would recommend monitoring compliance. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 23 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 23 Tax Increment Financing Districts VICTORIA PONDS Description: Victoria Ponds TIF District (County #1303) is a redevelopment district established on April 1, 1996. Originally, the district encompassed four parcels of land and was established to facilitate the construction of 74 owner occupied townhomes. The first 10% of annual increment is retained by the City’s EDA for administrative and legal pooling costs. The remaining 90% of increment is utilized for payment on the $760,000 PAYGO note with SVK Development. This note has been paid in full. Increment not used for this agreement was used to repay a $700,000 interfund loan for a portion of the costs associated with Hutchinson Spur Trail, which has been paid in full. Excess increment was returned to Hennepin County in 2008 in order to be able to pool future increments. The City pooled $410,715 from this District for the Erv’s Garage/Lake Street Office Building LLC and paid this amount in full in July, 2008. In 2012, $525,000 was used for the CAP program ($500,000 for Hardcoat and $25,000 for CAR Properties LLC). These funds were spent under the JOBS Bill authorized by the legislature in 2009 and extended in the 2010 legislative session. Use of these dollars under the special legislative authority are exempt from the standard pooling limitations of the District. The City also created an economic development TIF district under the JOBS Bill for Hardcoat, with the increment that is generated going to repay an interfund loan to this District. In 2013 the City modified the TIF district to authorize the use of approximately $490,000 in legal pooling funds to finance public improvements which consist of the installation of a traffic signal at the intersection of 36th Street and Xenwood Avenue and reconstruction of the intersection and traffic signal at 36th Street and Wooddale Avenue. In the end, increment from the Elmwood District was used for these projects. This District was decertified for pay 2014. There is approximately $295,000 cash balance, which the City can retain for legal pooling. To date a total of $1,766,247 has been returned to the County for redistribution to the City, County and School District. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 24 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 24 Adopted…………………………. 04/01/1996 Requested Date………………… 06/19/1996 Certified Date…………………… 06/28/1996 First Increment…………………… 07/1998 Decertification……...................... 11/18/2013 Modifications………………….… 04/07/2008 07/03/2013 Former and Current PID Numbers: Allowable Uses: MN Statute 469.176 subd. 4j specifies the activities on which tax increment from a redevelopment district may be spent. In general, tax increment must be spent on correcting those conditions which caused the area to be designated a redevelopment district. Allowable uses include property acquisition, demolition, rehabilitation, installation of public utilities, road, sidewalks, public parking facilities, and allowable administrative expenses. Recommendations: 1. Use of Legal Pooling Funds. When the interfund loan due from Hardcoat is paid (anticipated in 2022), there will be a fund balance of approximately $122,900 that will be available for legal pooling. During 2019, $250,000 was used from this district to pool for the Southwest Light Rail Transit project. We recommend that the City develop a plan for use of these funds. If no pooling is completed, the balance will have to be returned to the County for redistribution. Former PID # New PID #New Use07-117-21-44-0103 07-117-21-41-0072, 07-117-21-41-0074 thru 07-117-21-41-010708-117-21-32-005007-117-21-44-010318-117-21-12-000508-117-21-32-0054 thru 08-117-21-32-0069, 08-117-21-32-0071, 08-117-21-32-0074 thru 08-117-21-32-010018-117-21-31-000118-117-21-12-0048 thru 18-117-21-12-005618-117-21-13-0088 thru 18-117-21-13-009018-117-21-31-006318-117-21-34-002118-117-21-34-0030 thru 18-117-21-34-003274 Town HomesStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 25 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 25 VICTORIA PONDS CONTINUED City of St. Louis ParkVictoria PondsORIGINALInterest Income 0.50% 1) Limited Pooling options availableDistrict TypeRedevelopment Admin Expense 3.00% 2) Budget Mod: Not Recommended at this timeProject Area3) Admin. Expense is currently: for year 2019 4.8%At or Under LimitFiscal DisparitiesA ElectionCounty Number1303Frozen RateUTA #1 0.000%UTA #2 0.000%UTA #3 0.000%Current Year 2019First ReceiptCity Approved Cert Request Certified Legal TermExpected Term Tax IncrementIFLInterest Income TOTAL REVENUESProjectJobs BillPaygotAdmin Expense County Admin Outside District Other Expense TOTAL EXPENSEOriginal Budget1998 4/1/1996 6/19/1996 6/28/1996 12/31/2023 11/18/2013‐ ‐ ‐ Cumulative Modified6,100,000 200,000 6,300,000 4,015,000 800,000 500,000 5,315,000 5,315,000 End of District Projected Actual Total5,739,893 137,799 5,877,692 734,300 525,000 1,807,053 258,430 3,048 660,715 1,766,247 5,754,793 5,754,793 Under / (Over) Budget360,107 62,201 422,308 3,280,700 (525,000) (1,007,053) 241,570 (3,048) (660,715) (1,766,247) (439,793) (439,793) Year Base CurrentFiscal DisparitiesCaptured Tax IncrementIFLInterest Income TOTAL REVENUESProject Jobs Bill PaygotAdmin Expense County Admin Outside DistrictIncrement ReturnedTOTAL EXPENSE19 2016‐ ‐ ‐ ‐ 128.561%‐ 8,555 8,555 ‐ ‐ 25,587 ‐ 248,100 273,687 361,894 20 2017‐ ‐ ‐ ‐ 124.745%‐ 6,201 6,201 ‐ ‐ 1,427 ‐ ‐ 1,427 366,668 21 2018‐ ‐ ‐ ‐ 0.000%‐ 7,903 7,903 ‐ ‐ 901 ‐ ‐ 901 373,670 22 2019‐ ‐ ‐ ‐ 0.000%‐ 1,868 1,868 ‐ ‐ 901 250,000 ‐ 250,901 124,637 23 2020‐ ‐ ‐ ‐ 0.000%‐ 623 623 ‐ ‐ 901 ‐ ‐ 901 124,360 24 2021‐ ‐ ‐ ‐ 0.000%‐ 622 622 ‐ ‐ 901 ‐ ‐ 901 124,080 25 2022‐ ‐ ‐ ‐ 0.000%‐ 620 620 ‐ ‐ 901 ‐ ‐ 901 123,800 26 2023‐ ‐ ‐ ‐ 0.000%‐ ‐ ‐ ‐ 901 ‐ ‐ 901 122,899 DISTRICT INFORMATIONASSUMPTIONSRECOMMENDATIONSTIF YearTAX CAPACITYCurrent Local Tax RateRevenuesExpendituresEnding BalanceCASH FLOW PROJECTIONS ROLL UPTIF PLAN BUDGET ANALYSISDecertifiesRevenuesExpendituresTotal BudgetIDIDStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 26 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 26 VICTORIA PONDS CONTINUED City of St. Louis ParkVictoria PondsPursuant to M.S. 469.176 Subd. 3:Admin limit is based on: ExpensesExpensesEst expend 4,815,000 481,500.0 Actual expend 5,496,363 549,636.30 TEST 1:Admin per TIF Plan$500,000Actual TIF5,739,893 573,989.30 NTEST 2:Estimated TIF Admin Allowable (10%) $481,500Estimated Total TIF Expenses per TIF Plan$4,815,000YTEST 3:Cumulative TIF Admin Allowable (10%) $549,636Pursuant to M.S. 469.1763 Subd. 2:Total TIF Expenses for the Project$5,496,363NDistrict Type:RedevelopmentDoes this section apply?YesRESULTS:Estimated TIF Admin Allowable (10%) $481,500Certification Request Date: 6/19/1996Actual Admin Expenses $258,430 Does TIF Plan Specify Assisting Housing Outside Project Area? NoAvailable Admin $223,070If so, What is the Additional % Allowed in TIF Plan (Up to 10%): 0%Actual Percentage4.7%Total Pooling %: 25%TIF Year Year Admin. Expenses Total % Allowable Current Year Cummulative Admin Costs Spent Outside CumulativeIncrement GeneratedCosts Authorized Required?Increment returned Net RetainedP&I Due after year end Excess (Not Excess)19 2016 251,597 5,246,363 4.8%‐ 5,739,893 251,597 1,183,376 ‐ 410,715 361,894 5,859,854 5,315,000 yes1,766,247 4,093,607 0(1,221,393)20 2017 253,024 5,246,363 4.8%‐ 5,739,893 253,024 1,181,949 ‐ 410,715 366,668 5,866,055 5,315,000 yes1,766,247 4,099,808 0(1,215,192)21 2018 253,925 5,246,363 4.8%‐ 5,739,893 253,925 1,181,048 ‐ 410,715 373,670 5,873,958 5,315,000 yes1,766,247 4,107,711 0(1,207,289)22 2019 254,826 5,496,363 4.6%‐ 5,739,893 254,826 1,180,147 250,000 660,715 124,637 5,875,826 5,315,000 yes1,766,247 4,109,579 0(1,205,421)23 2020 255,727 5,496,363 4.7%‐ 5,739,893 255,727 1,179,246 ‐ 660,715 124,360 5,876,450 5,315,000 yes1,766,247 4,110,2030(1,204,797)24 2021256,628 5,496,363 4.7%‐ 5,739,893 256,628 1,178,345 ‐ 660,715 124,080 5,877,071 5,315,000 yes1,766,247 4,110,8240(1,204,176)25 2022257,529 5,496,363 4.7%‐ 5,739,893 257,529 1,177,444 ‐ 660,715 123,800 5,877,692 5,315,000 yes1,766,247 4,111,4450(1,203,555)26 2023258,430 5,496,363 4.7%‐ 5,739,893 258,430 1,176,543 ‐ 660,715 122,899 5,877,692 5,315,000 yes1,766,247 4,111,4450(1,203,555)EXCESS INCREMENTADMINISTRATIVE EXPENSE CALCULATION POOLING CALCULATION (25% Outside of District)Tax Increment25% for Qualified CostsAvailable for PoolingADMINISTRATIVE EXPENSE TESTAccummulated Totals Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 27 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 27 PARK CENTER HOUSINGDescription: Park Center TIF District (County #1304) is a housing district established on October 7, 1996. Originally, the district encompassed a portion of one parcel of land that was originally in the Excelsior Boulevard district. It was created to facilitate the development of 45 units of senior assisted living rental housing. This district was modified in 1999 to include additional parcels (which were replatted into one parcel) to allow for the construction of an additional 45 units of senior assisted living. Legislative change in 2001 eliminated the state aid penalty for this district. Increment was used to repay a $500,000 interfund loan for the Park Shores Assisted Living Project, which was paid off on September 30, 2003. In 2007, $131,000 of increment was used as part of a $400,000 deferred loan for capital improvements at Louisianan Court. On February 1, 2011 as part of the Louisiana Court bond refinancing, increment was used for an additional $500,000 deferred loan. With the Park Shores interfund loan being repaid, there is ample increment generated on an annual basis to utilize for other affordable housing initiatives within the constraints of the TIF Act. A total of $1,149,400 has been transferred to the Housing Rehabilitation Fund to fund affordable housing initiatives. Any and all amounts transferred to the Housing Rehabilitation Fund must be used for affordable housing in the period in which it is transferred. Adopted…………………………. 10/07/1996 Requested Date…………………12/19/1996 Certified Date…………………....05/19/1997 First Increment………………………07/1998 Anticipated Decertification…….. 12/31/2023 Modifications………………….… 09/21/1999 01/16/2007 Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 28 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 28 Former and Current PID Numbers: Fiscal Disparities Election: The City elected to calculate fiscal disparities from outside (A election) the district. Frozen Tax Rate: 126.2470% Allowable Uses: MN Statute 469.176 subd. 4d specifies the activities on which tax increment from a housing district may be spent. In general, tax increment must be spent on housing projects meeting the income guidelines, public improvements directly related to housing projects and administrative expenses. The City has used increment from this district to support affordable housing initiatives, in compliance with TIF law. Obligations: None. Three Year Rule: The three-year rule states that, within three years from certification date, bonds much be issued, the authority has acquired land or has caused public improvements to be constructed in the district. The Park Center Housing District met the requirement when the City issued an interfund loan from the Development Fund for the Park Shores Assisted Living project. Four Year Rule: MN Statute 469.176 subd. 6 requires that, within four years from certification date, certain activities must have taken place on each parcel within the TIF district. Required activities include demolition, rehabilitation, renovation and site improvements. The Park Center Housing four-year rule was May 2001 and was met because qualifying activities happened prior to this date. Former PID # New PID #New Use06-028-24-33-001706-028-24-33-002006-028-24-33-0022Park Shores Assisted LivingStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 29 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 29 Five Year Rule: At least 80% of tax increment revenues generated within Park Center Housing must be used to pay for qualified costs within the district. However, pursuant to MN Statute 469.1763 subd. 2 (b), activities for affordable housing projects spent in the project area is considered an activity within the district. Geographic Enlargements: MN Statute 469.175 subd. 4 (f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. This timeline has passed for Park Center which was May 2002. Compliance Requirements: Income limitations are required to be monitored on an on-going basis for a Housing District. The Authority is required to substantiate that the applicable income limitations and rent restrictions are being met on an annual basis for rental. The compliance must be completed regardless of whether the project receives tax credits or not, pursuant to 469.174 sub 11. For both facilities, they have been submitting the required documentation on an annual basis and have continued to meet the requirement that 20% of the units are affordable to persons at or below 50% of the area median income. Recommendations: 1. Use of Increment. As of December 31, 2018, this District had a fund balance and cash balance, respectively of approximately $858,200 and $215,000, and will generate approximately $180,000 annually. This increment may be used to pay eligible costs for “housing projects” as defined by MS 469.174, Subd. 11, located anywhere within the City limits. A housing project is a rental or owner-occupied housing development intended for occupancy by low- and moderate-income families. The income guidelines are defined in MS 469.1761 as follows: Rental Housing: 20% of the units occupied by families at 50% of median income (20/50) or 40% of the units occupied by families at 60% of median income (40/60). Owner Occupied: Assistance to homeowners with an income at or below 100% of the median income for a family of two or less or 115% of the median income for a family of three or more. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 30 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 30 Typically, TIF is utilized for capital expenditures, but may be used for non-capital expenditures on a limited basis. Examples of potential rental housing projects would include: 1. New affordable rental housing as part of redevelopment (20/50 or 40/60 election) 2. Renovation of an existing rental housing development (20/50 or 40/60 election) 3. Providing subsidy to an existing project that is earmarked for additional affordability (20/50 or 40/60 election) Examples of potential owner-occupied projects would include: 4. Site acquisition and demolition for infill lots that will be sold for new housing construction 5. Acquisition of foreclosed homes for resale to income qualified buyers 6. Rehabilitation loans for home improvements (including HIA owners) 7. Second mortgages to qualified home buyers In order for the City to continue to utilize these funds for housing projects, the development is required to continue to meet income guidelines and report them annually to the City. There were three possible tenant income requirements for this rental housing: (i) 20% of the units affordable to persons at or below 50% of the AMI; (ii) 40% of the units affordable to persons at or below 60% of the AMI; or (iii) 50% of the units affordable to persons at or below 80% of the AMI. The Development Agreement did not specify which of these requirements must be met. This means that the Developer has some flexibility as to income requirements but must meet at least one of these income requirements on an annual basis for the duration of the TIF District. The City needs to annually monitor the income verification to assure that one of the above referenced requirements is met. If the income requirements are not met on any given year, then the City will need to return that year’s increment to the County for redistribution. 2. Plan for Use of Increment. The City has determined to transfer annual TIF to its housing development account to fund income qualified housing programs. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 31 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 31 PARK CENTER HOUSING CONTINUED City of St. Louis ParkPark Center HousingORIGINALInterest Income 0.50% 1) Limited Pooling options availableDistrict TypeHousing Admin Expense 3.00% 2) Budget Mod: Not Recommended at this timeProject Area3) Admin. Expense is currently: for year 2019 7.7%At or Under LimitFiscal DisparitiesA ElectionCounty Number1304Frozen RateUTA #1 126.247%UTA #2 0.000%UTA #3 0.000%Current Year 2019First ReceiptCity Approved Cert Request Certified Legal Term Expected Term Tax Increment Interest Income Other Revenue TOTAL REVENUESProjectAffordable Housing Interest ExpenseInterfund LoanAdmin Expense County Admin Outside District Other Expense TOTAL EXPENSEOriginal Budget1998 10/7/1996 12/19/1996 5/19/1997 12/31/2023 12/31/2023‐ ‐ ‐ Cumulative Modified5,750,000 250,000 6,000,000 3,700,000 2,550,000 200,000 6,450,000 6,450,000 End of District Projected Actual Total3,279,262 193,106 450,000 3,922,369 713,583 2,024,400 ‐ 136,718 165,473 8,315 ‐ ‐ 3,048,489 3,048,489 Under / (Over) Budget2,470,738 56,894 (450,000) 2,077,631 2,986,417 (2,024,400) 2,550,000 (136,718) 34,527 (8,315) ‐ ‐ 3,401,511 3,401,511 Year Base Current iscal DisparitieCapturedTax Increment Interest Income Other Revenue TOTAL REVENUESProjectAffordable HousingPaygoInterfund LoanAdmin Expense County Admin Outside DistrictIncrement ReturnedTOTAL EXPENSE20 20178,360 142,188 ‐ 133,828 124.745% 166,343 1,906 ‐ 168,249 160,000 3,836 744 ‐ ‐ 164,580 845,026 21 20188,360 147,588 ‐ 139,228 130.191% 175,139 3,491 ‐ 178,630 160,000 4,682 757 ‐ ‐ 165,439 858,217 22 20198,360 152,875 ‐ 144,515 125.012% 180,011 4,291 ‐ 184,302 175,000 5,400 800 ‐ ‐ 181,200 861,318 23 20208,360 152,875 ‐ 144,515 125.012% 180,011 4,307 ‐ 184,317 175,000 5,400 800 ‐ ‐ 181,200 864,435 24 20218,360 152,875 ‐ 144,515 125.012% 180,011 4,322 ‐ 184,333 175,000 5,400 800 ‐ ‐ 181,200 867,568 25 20228,360 152,875 ‐ 144,515 125.012% 180,011 4,338 ‐ 184,349 175,000 5,400 800 ‐ ‐ 181,200 870,716 26 20238,360 152,875 ‐ 144,515 125.012% 180,011 4,354 ‐ 184,364 175,000 5,400 800 ‐ ‐ 181,200 873,880 DISTRICT INFORMATIONASSUMPTIONSRECOMMENDATIONSTIF YearTAX CAPACITYCurrent Local Tax RateRevenuesExpendituresEnding BalanceCASH FLOW PROJECTIONS ROLL UPTIF PLAN BUDGET ANALYSISDecertifiesRevenuesExpendituresTotal BudgetIDStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 32 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 32 PARK CENTER HOUSING CONTINUED City of St. Louis ParkPark Center HousingPursuant to M.S. 469.176 Subd. 3:Admin limit is based on:ExpensesExpensesEst expend6,250,000 625,000.0 Actual expend 2,883,016 288,301.60 TEST 1:Admin per TIF Plan $200,000Actual TIF 3,279,262 327,926.23 YTEST 2:Estimated TIF Admin Allowable (10%) $625,000Estimated Total TIF Expenses per TIF Plan $6,250,000NTEST 3:Cumulative TIF Admin Allowable (10%) $288,302Pursuant to M.S. 469.1763 Subd. 2:Total TIF Expenses for the Project $2,883,016NDistrict Type: HousingDoes this section apply? YesRESULTS:Admin per TIF Plan $288,302Certification Request Date: 12/19/1996Actual Admin Expenses $165,473 Does TIF Plan Specify Assisting Housing Outside Project Area? NoAvailable Admin $34,527If so, What is the Additional % Allowed in TIF Plan (Up to 10%): 0%Actual Percentage5.7%Total Pooling %: 100%TIF Year Year Admin. Expenses Total % Allowable Current Year Cummulative Admin Costs Spent Outside CumulativeIncrement GeneratedCosts Authorized Required?Increment returned Net RetainedP&I Due after year end Excess (Not Excess)20 2017 133,789 1,843,259 7.3% 166,343 2,204,070 133,789 2,070,281 ‐ ‐ 845,026 2,822,074 6,450,000 no 0 0(3,627,926)21 2018 138,471 2,004,016 6.9% 175,139 2,379,209 138,471 2,240,738 ‐ ‐ 858,217 3,000,704 6,450,000 no 0 0(3,449,296)22 2019 143,871 2,179,816 6.6% 180,011 2,559,219 143,871 2,415,348 ‐ ‐ 861,318 3,185,006 6,450,000 no 0 0(3,264,994)23 2020 149,272 2,355,616 6.3% 180,011 2,739,230 149,272 2,589,959 ‐ ‐ 864,435 3,369,323 6,450,000 no 0 0(3,080,677)24 2021 154,672 2,531,416 6.1% 180,011 2,919,241 154,672 2,764,569 ‐ ‐ 867,568 3,553,656 6,450,000 no 0 0(2,896,344)25 2022 160,072 2,707,216 5.9%180,011 3,099,252 160,072 2,939,179 ‐ ‐ 870,716 3,738,004 6,450,000 no00(2,711,996)26 2023165,473 2,883,016 5.7%180,011 3,279,262 165,473 3,113,790 ‐ ‐ 873,880 3,922,369 6,450,000 no00(2,527,631)EXCESS INCREMENTADMINISTRATIVE EXPENSE CALCULATIONPOOLING CALCULATION (100% Outside of District)Tax Increment100% for Qualified CostsAvailable for PoolingADMINISTRATIVE EXPENSE TESTAccummulated Totals Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 33 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 33 ZARTHAN AVENUE/16TH STREET Description: Zarthan Avenue/16th Street TIF District (County #1305 and #1306) is a redevelopment district established on December 20, 1999. Originally, the district encompassed twelve parcels of land and was created to facilitate the development of two hotels and 86 townhome units just south of I-394. The EDA pledged tax increment revenues from this district to three PAYGO notes, which are all held by CSM. The property tax reform of 2001 hit this development particularly hard. Currently, tax increment income is less than the annual interest payments on the notes. The notes contain pledges from three properties. The Rottlund note covers 86 owner-occupied townhomes. These tax capacities dropped by 25% in 2001. Due to the reallocation of the market value homestead credit to market value homestead exclusion in 2011, the tax capacities dropped. The remaining two notes are supported by increments from two hotels. The tax-capacities on these properties dropped by 40% in 2001, but the actual tax savings was significantly less than that amount. Assuming no change in the local tax rate, the larger of the two hotels would have seen a property tax savings of $115,000 per year but the new statewide property tax substituted a new tax for $75,000 of the savings. The state property tax is not captured by TIF and is therefore a net loss to the note holder. CSM had approached the City after the 2001 legislative changes asking for future consideration through several potential actions such as a change in the interest rate on the notes, the extension of the term of the district, pooling among the notes, a change in the fiscal disparities election in the district, lifting of the frozen tax rate, and/or pooling from other districts. No action was taken on that request. In 2014, the two (2) hotels were sold to Garrison Investment Group of New York and the TIF notes were transferred to the new owners. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 34 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 34 Adopted………………………. 12/20/1999 Requested Date……………… 01/28/2000 Certified Date………………… 05/09/2000 First Increment………………… 07/2001 Anticipated Decertification…...12/31/2026 Former and Current PID Numbers: Former PID # New PID #New Use130504-117-21-32-000804-117-21-32-0094Rottlund Master Parcel04-117-21-32-006604-117-21-32-0088Spring Hill Suites04-117-21-32-0102 thru 013304-117-21-32-0168 thru 018304-117-21-32-0102 thru 013304-117-21-32-0168 thru 018304-117-21-32-0088Spring Hill Suites04-117-21-32-0089Town Place Suites130604-117-21-32-000904-117-21-32-001004-117-21-32-001104-117-21-32-001204-117-21-32-001304-117-21-32-001404-117-21-32-001504-117-21-32-001604-117-21-32-0150 thru 167 and 04-117-21-32-0185 thru 20438 Rottlund Town Homes48 Rottlund Town Homes04-117-21-32-007904-117-21-32-0078 Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 35 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 35 Fiscal Disparities Election: The City elected to calculate fiscal disparities from inside (B election) the district. Frozen Tax Rate: The parcels in this district cross over two watershed districts. The county has assigned two numbers to correspond with the different watershed rates.  1305 - 143.7690%  1306 - 144.2940% Allowable Uses: MN Statute 469.176 subd. 4j specifies the activities on which tax increment from a redevelopment district may be spent. In general, tax increment must be spent on correcting those conditions which caused the area to be designated a redevelopment district. Allowable uses include property acquisition, demolition, rehabilitation, installation of public utilities, road, sidewalks, public parking facilities, and allowable administrative expenses. Obligations: There are three (3) PAYGO TIF Note obligations for this district as follows:  Note #1: CSM Hospitality (Town Place Suites) in the amount of $1,101,362 at 8.0% and is payable from 8/1/2002 to 2/1/2022. This note was reassigned in February of 2016 and is currently owned by MMP OpCo LLC (Minneapolis West PT)  Note #2: CSM Hospitality (Spring Hill Suites) in the amount of $1,448,088 at 8.0% and is payable from 8/1/2002 to 2/1/2022. This note was reassigned in February of 2016 and is currently owned by MMP OpCo LLC (Minneapolis West HS)  Note #3: The Rottlund Company in the amount of $1,395,547 at 8.0% and is payable from 8/1/2003 to 2/1/2023. This note was reassigned in February of 2016 and is currently owned by MMP OpCo LLC (Minneapolis West HS) Due to legislative changes to tax rates in 2001 and reallocation of the market value homestead credit to a market value homestead exclusion in 2011, it is anticipated that payments will be made on these notes through the duration stated above and that there will not be adequate TIF to pay off Notes 1 and 2. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 36 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 36 Three Year Rule: The three-year rule states that, within three years from certification date, bonds much be issued, the authority has acquired land or has caused public improvements to be constructed in the district. The Zarthan district met the requirement when the City authorized the issuance of the notes in 2000. Four Year Rule: MN Statute 469.176 subd. 6 requires that, within four years from certification date, certain activities must have taken place on each parcel within the TIF district. The four-year deadline was May 2004 and was met because qualifying activities happened prior to this date. Five Year Rule: At least 75% of tax increment revenues must be used to pay for qualified costs within the district. Statute further specifies that within five years, tax increment must be paid for activities, bonds issued, contracts entered into in order for revenues to be considered to have been spent. The five-year deadline was May 2005. Since the EDA has entered into contracts and obligated TIF dollars, the Five-Year rule has been satisfied. Geographic Enlargements: MN Statute 469.175 sub 4 (f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. This district may not be enlarged after May 2005. Recommendations: 1. Pooling Analysis and Use of Funds. During 2019, $450,000 was used for the Southwest Light Rail Transit project and another $34,200 was to install fiberoptic cable. In the future, it is anticipated that an additional $400,000 will be used in total for the fiberoptic project in 2020 and 2021. It is estimated that there will be approximately $78,300 available for pooling for qualified redevelopment costs when the obligations are paid in February 2023. We recommend that the City/EDA modify the budget of the District to allow for an additional 10% pooling for housing. This would allow approximately $663,000 to be used for affordable housing. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 37 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 37 ZARTHAN AVENUE/16TH STREET CONTINUED City of St. Louis ParkZarthan Ave ‐ 16th StORIGINALInterest Income 0.50% 1) Limited Pooling options availableDistrict TypeRedevelopment Admin Expense 3.00% 2) Budget Mod: Not Recommended at this timeProject Area3) Admin. Expense is currently: for year 2019 2.9%At or Under LimitFiscal DisparitiesB ElectionCounty Number1305, 1306Frozen RateUTA #1 143.769%UTA #2 144.294%UTA #3 0.000%Current Year 2019First Receipt City Approved Cert Request Certified Legal Term Expected TermTax Increment Interest Income TOTAL REVENUESProjectAdmin Expense County Admin Outside District Other Expense TOTAL EXPENSEOriginal Budget2001 12/20/1999 1/28/2000 5/9/2000 12/31/2026 12/31/2026‐ ‐ ‐ Cumulative Modified13,500,000 110,000 13,610,000 5,910,000 6,785,000 1,000,000 13,695,000 13,695,000 End of District Projected Actual Total10,424,098 52,962 10,477,060 34,070 1,500,220 1,917,467 3,693,821 286,487 20,713 923,923 1,358,871 9,735,572 9,735,572 Under / (Over) Budget3,075,902 57,038 3,132,940 5,875,930 5,284,780 (1,917,467) (3,693,821) 713,513 (20,713) (923,923) (1,358,871) 3,959,428 3,959,428 Year Base Currentiscal DisparitieCapturedTax Increment Interest Income TOTAL REVENUESProject CSM‐Town Place CSM‐Spring Hill CSM‐RottlundAdmin Expense County Admin Outside DistrictIncrement ReturnedTOTAL EXPENSE17 201772,212 520,609 70,992 377,405 124.745% 467,997 3,592 471,589 ‐ 89,501 108,658 216,547 7,143 1,410 39,689 ‐ 462,949 646,153 18 201872,212 562,169 81,794 408,163 130.191% 524,194 6,978 531,172 ‐ 94,025 113,680 238,273 15,184 1,500 ‐ ‐ 462,663 714,662 19 201972,212 569,253 77,059 419,982 125.012% 521,009 3,573 524,583 ‐ 91,930 119,519 252,421 15,630 1,500 484,234 ‐ 965,234 274,011 20 202072,212 569,253 77,059 419,982 125.012% 521,009 1,370 522,379 ‐ 85,874 119,519 272,036 15,630 1,500 200,000 ‐ 694,559 101,831 21 202172,212 569,253 77,059 419,982 125.012% 521,009 509 521,519 ‐ 85,874 119,519 272,036 15,630 1,500 200,000 ‐ 694,559 (71,209) 22 202272,212 569,253 77,059 419,982 125.012% 521,009 (356) 520,653 ‐ 42,937 59,760 251,307 15,630 1,500 ‐ ‐ 371,134 78,310 23 202372,212 569,253 77,059 419,982 125.012% 521,009 392 521,401 ‐ ‐ ‐ 15,630 1,500 ‐ 338,911 356,041 243,670 24 202472,212 569,253 77,059 419,982 125.012% 521,009 1,218 522,228 ‐ 15,630 1,500 ‐ 339,448 356,578 409,320 25 202572,212 569,253 77,059 419,982 125.012% 521,009 2,047 523,056 ‐ 15,630 1,500 ‐ 339,986 357,117 575,259 26 202672,212 569,253 77,059 419,982 125.012% 521,009 2,876 523,886 ‐ 15,630 1,500 ‐ 340,526 357,656 741,489 TIF PLAN BUDGET ANALYSISDecertifiesRevenuesExpendituresTotal BudgetPaygo DISTRICT INFORMATIONASSUMPTIONSRECOMMENDATIONSTIF YearTAX CAPACITYCurrent Local Tax RateRevenuesExpendituresEnding BalanceCASH FLOW PROJECTIONS ROLL UPID Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 38 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 38 ZARTHAN AVENUE/16TH STREET CONTINUED City of St. Louis ParkZarthan Ave ‐ 16th StPursuant to M.S. 469.176 Subd. 3:Admin limit is based on: ExpensesExpensesEst expend 12,695,000 1,269,500.0 Actual expend 9,449,084 944,908.44 TEST 1:Admin per TIF Plan $1,000,000Actual TIF 10,424,098 1,042,409.81 NTEST 2:Estimated TIF Admin Allowable (10%) $1,269,500Estimated Total TIF Expenses per TIF Plan $12,695,000NTEST 3:Cumulative TIF Admin Allowable (10%) $944,908Pursuant to M.S. 469.1763 Subd. 2:Total TIF Expenses for the Project $9,449,084YDistrict Type: RedevelopmentDoes this section apply? YesRESULTS:Cumulative TIF Admin Allowable (10%) $944,908Certification Request Date: 1/28/2000Actual Admin Expenses$286,487 Does TIF Plan Specify Assisting Housing Outside Project Area?YesAvailable Admin$658,421If so, What is the Additional % Allowed in TIF Plan (Up to 10%):10%Actual Percentage3.0%Total Pooling %:25%TIF Year Year Admin. Expenses Total % Allowable Current Year Cummulative Admin CostsSpent Outside Cumulative25% Pooling for Redevelopment10% Pooling for HousingIncrement GeneratedCosts Authorized Required?Increment returned Net RetainedP&I Due after year end Excess (Not Excess)17 2017146,261 4,973,770 2.9%467,997 5,731,829 146,261 1,286,696 39,689 39,689 646,153 5,766,184 13,695,000 no00(7,928,816)18 2018161,445 5,421,249 3.0%524,194 6,256,023 161,445 1,402,561 ‐ 39,689 714,662 714,662 6,297,356 13,695,000 no00(7,397,644)19 2019177,075 6,370,853 2.8%521,009 6,777,032 177,075 1,517,183 484,234 523,923 274,011 274,011 6,821,939 13,695,000 no00(6,873,061)20 2020192,706 7,049,781 2.7%521,009 7,298,042 192,706 1,631,805 200,000 723,923 101,831 101,831 7,344,318 13,695,000 no 0 0(6,350,682)21 2021 208,336 7,728,710 2.7% 521,009 7,819,051 208,336 1,746,427 200,000 923,923 (71,209) (71,209) 7,865,837 13,695,000 no 0 0(5,829,163)22 2022 223,966 8,084,214 2.8% 521,009 8,340,061 223,966 1,861,049 ‐ 923,923 78,310 78,310 8,386,490 13,695,000 no 0 0(5,308,510)23 2023 239,596 8,424,624 2.8% 521,009 8,861,070 239,596 165,360 ‐ 923,923 165,360 ‐ 165,360 8,907,891 13,695,000 no00(4,787,109)24 2024255,227 8,765,572 2.9%521,009 9,382,079 255,227 165,649 ‐ 923,923 165,649 165,649 9,430,119 13,695,000 no00(4,264,881)25 2025270,857 9,107,059 3.0%521,009 9,903,089 270,857 165,939 ‐ 923,923 165,939 165,939 9,953,175 13,695,000 no00(3,741,825)26 2026286,487 9,449,084 3.0%521,009 10,424,098 286,487 166,230 ‐ 923,923 166,230 166,230 10,477,060 13,695,000 no00(3,217,940)ADMINISTRATIVE EXPENSE TESTAccummulated TotalsEXCESS INCREMENTADMINISTRATIVE EXPENSE CALCULATION POOLING CALCULATION (25% Outside of District)Tax Increment25% for Qualified CostsAvailable for Pooling Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 39 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 39 ZARTHAN AVENUE/16TH STREET CONTINUED Maximum amount 1,101,362.00$ Interest Rate 8.00%PID 04-117-21-32-0089Note Issue Date 10/25/2000Final Payment 2/1/2022Total Tax Tax Increment CumulativeIncrement Available at Tax IncrementDate Interest Due Available 89.75% Paid Note Balance2/1/2017 49,822.14 49,994.73 44,870.27 1,054,950.07 1,218,476.17$ 8/1/2017 49,009.82 49,728.39 44,631.23 1,099,581.30 1,218,476.17$ 2/1/2018 49,822.14 49,728.39 44,631.23 1,144,212.52 1,218,476.17$ 8/1/2018 49,009.82 55,034.96 49,393.96 1,193,606.48 1,218,476.17$ 2/1/2019 49,822.14 54,588.96 48,993.59 1,242,600.07 1,218,476.17$ 8/1/2019 49,009.82 47,840.53 42,936.88 1,285,536.95 1,218,476.17$ 2/1/2020 49,822.14 47,840.53 42,936.88 1,328,473.82 1,218,476.17$ 8/1/2020 49,280.59 47,840.53 42,936.88 1,371,410.70 1,218,476.17$ 2/1/2021 49,822.14 47,840.53 42,936.88 1,414,347.57 1,218,476.17$ 8/1/2021 49,009.82 47,840.53 42,936.88 1,457,284.45 1,218,476.17$ 2/1/2022 49,822.14 47,840.53 42,936.88 1,500,221.33 1,218,476.17$ TOTAL 2,071,121.94 1,659,918.09 1,500,221.33 City of St. Louis ParkEconomic Development AuthorityPrincipal Ledger - Rottlund Note 1CSM - Town Place Suites Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 40 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 40 ZARTHAN AVENUE/16TH STREET CONTINUED Maximum amount 1,448,088.00$ Interest Rate 8.00%PID 04-117-21-32-0088Note Issue Date 10/25/2000Final Payment Date 2/1/2022Total Tax Tax Increment CumulativeIncrement Available at Tax IncrementDate Interest Due Available 89.75% Paid Note Balance2/1/2017 71,589.75 60,988.15 54,736.86 1,331,547.57 1,750,836.21$ 8/1/2017 70,422.52 60,079.03 53,920.93 1,385,468.50 1,750,836.21$ 2/1/2018 71,589.75 60,079.03 53,920.93 1,439,389.43 1,750,836.21$ 8/1/2018 70,422.52 66,584.41 59,759.51 1,499,148.94 1,750,836.21$ 2/1/2019 71,589.75 66,584.41 59,759.51 1,558,908.45 1,750,836.21$ 8/1/2019 70,422.52 66,584.41 59,759.51 1,618,667.95 1,750,836.21$ 2/1/2020 71,589.75 66,584.41 59,759.51 1,678,427.46 1,750,836.21$ 8/1/2020 70,811.60 66,584.41 59,759.51 1,738,186.97 1,750,836.21$ 2/1/2021 71,589.75 66,584.41 59,759.51 1,797,946.48 1,750,836.21$ 8/1/2021 70,422.52 66,584.41 59,759.51 1,857,705.99 1,750,836.21$ 2/1/2022 71,589.75 66,584.41 59,759.51 1,917,465.49 1,750,836.21$ TOTAL 2,951,814.78 2,130,139.04 1,917,465.50 City of St. Louis ParkEconomic Development AuthorityPrincipal Ledger - Rottlund Note 2CSM - Spring Hill SuitesStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 41 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 41 ZARTHAN AVENUE/16TH STREET CONTINUED Maximum amount 1,395,547.00$ Interest Rate8.00%Note Issue Date 11/6/2000Last Payment 2/1/2023Total Tax Tax Increment CumulativeIncrement Available at Principle Unpaid Tax IncrementDate Interest Due Available 89.75% Paid Interest Paid Note Balance2/1/2017 47,456.40 108,820.79 97,666.66 2,288,867.33 1,110,408.23$ 8/1/2017 44,663.09 132,457.47 118,880.58 2,407,747.91 1,036,190.73$ 2/1/2018 42,368.69 115,736.93 103,873.77 2,511,621.67 974,685.66$ 8/1/201839,204.02 149,748.85 134,399.59 2,646,021.26 879,490.09$ 2/1/201935,961.37 129,696.52 116,402.63 2,762,423.89 799,048.83$ 8/1/201932,139.52 151,552.04 136,017.96 2,898,441.85 695,170.40$ 2/1/202028,424.75 151,552.04 136,017.96 3,034,459.80 587,577.19$ 8/1/202023,764.23 151,552.04 136,017.96 3,170,477.76 475,323.46$ 2/1/202119,435.45 151,552.04 136,017.96 3,306,495.71 358,740.96$ 8/1/202114,429.36 151,552.04 136,017.96 3,442,513.67 237,152.36$ 2/1/20229,696.90 151,552.04 136,017.96 3,578,531.63 110,831.30$ 8/1/20224,457.88 151,552.04 115,289.18 3,693,820.81 (0.00)$ TOTAL2,278,491.93 4,157,480.81 3,693,820.81 City of St. Louis ParkEconomic Development AuthorityPrincipal Ledger - Rottlund Note 3Rottlund - 86 Town Homes/Condos Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 42 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 42 MILL CITY Description: Mill City TIF District (County #1307) is a redevelopment district established on March 20, 2000. Originally, the district was established with two (2) parcels to facilitate the redevelopment of a polluted site and construction of a multi-family rental housing development. Rental housing class rates were reduced dramatically by the 2001 legislature from 2.4% to 1.25%. Projected increment when the note was sized was expected to be $394,188 per year beginning in 2003, which is substantially less than the current annual tax increment. However, the reduction of increment also meant a decrease in taxes paid by the owner. Therefore, the effect upon the rental housing development should be neutral for the owner because rental housing pays no state property tax (tax obligated for the State’s education system). In 2011, The City utilized $70,000 from this district to pay for project costs for the Bikemasters project through the City’s CAP program. These funds were spent under the JOBS Bill authorized by the legislature in 2009 and extended in the 2010 legislative session. Use of these dollars under the special legislative authority are exempt from the standard pooling limitations of the District. In 2015 the property was sold. At that time, the TIF Note was reviewed to determine if the following conditions existed: (1) the property was assigned an assessor's market value as of January 2, 2001, that exceeds the market value as of January 2, 2000; and (2) there is any unpaid principal or accrued interest on this Note after the payment of available Tax Increment on February 1, 2022. Based upon the analysis that was completed, it was determined that the final TIF Note payment would be February 1, 2023. Even with the extension of payments, it is anticipated that the TIF Note will not be paid in full. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 43 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 43 Adopted…………………..….…. 03/20/2000 Requested Date…………….…..06/08/2000 Certified Date……………………06/19/2000 First Increment……..……….…… 07/2001 Anticipated Decertification...… 12/31/2026 Former and Current PID Numbers: Fiscal Disparities Election: The City elected to calculate fiscal disparities from inside (B election) the district. Frozen Tax Rate: 144.2940% Allowable Uses: MN Statute 469.176 subd. 4j specifies the activities on which tax increment from a redevelopment district may be spent. In general, tax increment must be spent on correcting those conditions which caused the area to be designated a redevelopment district. Allowable uses include property acquisition, demolition, rehabilitation, installation of public utilities, road, sidewalks, public parking facilities, and allowable administrative expenses. Obligations: There is currently one PAYGO Note in this district as follows:  $3,431,137 at 8.75% interest. The Note was issued on November 20, 2000 to MSP SLP Apartments, LLC. The note is payable from 94.75% of the increment received on the project. After the 8/1/2019 payment, the current balance is $3,294,815 and the projected final payment is on February 1, 2023. It is expected the Note will not be paid in full due to tax rate compression. Former PID # Former UseNew PID #New Use17-117-21-31-0012 Vacant Land17-117-21-42-0094City Vacant Land17-117-21-34-0082 Mill City Plywood17-117-21-34-0087Mill City ApartmentsStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 44 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 44 Other Development Agreement Compliance: 1. Minimum Assessment Agreement. The minimum market value as of January 2, 2002 shall be $13,400,000. The Assessment Agreement shall be in place until the TIF Note is paid in full or the TIF District terminates, whichever is sooner. Three Year Rule: The three-year rule states that, within three years from certification date, bonds much be issued, the authority has acquired land or has caused public improvements to be constructed in the district. Mill City met the requirement when the City approved the Development Agreement with MSP SLP Apartments LLC on April 3, 2000. Four Year Rule: MN Statute 469.176 subd. 6 requires that, within four years from certification date, certain activities must have taken place on each parcel within the TIF district. Required activities include demolition, rehabilitation, renovation and site improvements. The four-year deadline was June 2004 and was met because qualifying activities happened prior to this date. Five Year Rule: At least 75% of tax increment revenues generated within the Mill City district must be used to pay for qualified costs within the district. The five-year deadline was June 2005. Since the EDA has entered into contracts and obligated TIF dollars, the Five-Year rule has been satisfied. Geographic Enlargements: MN Statute 469.175 subd. 4 (f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. The district may not be enlarged after June 2005. Recommendations: 1. Pooling Analysis and Use of Funds. During 2019, $125,000 was used for the Southwest Light Rail Transit project and another $6,700 was used for fiberoptic cable. It is estimated that there will be approximately $325,700 available for pooling for qualified redevelopment costs when the obligations are paid in February 2023. We recommend that the City/EDA modify the budget of the District to allow for an additional 10% pooling for housing. This would allow approximately $717,000 to be used for affordable housing. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 45 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 45 MILL CITY CONTINUED City of St. Louis ParkMill City ORIGINALInterest Income 0.50% 1) Limited Pooling options availableDistrict TypeRedevelopment Admin Expense 4.25% 2) Budget Mod: Not Recommended at this timeProject Area3) Admin. Expense is currently: for year 2019 2.2%At or Under LimitFiscal DisparitiesB ElectionCounty Number1307Frozen RateUTA #1 144.294%UTA #2 0.000%UTA #3 0.000%Current Year 2019First Receipt City Approved Cert Request Certified Legal Term Expected Term Tax IncrementInterest Income TOTAL REVENUESProject Interest Expense BondsAdmin Expense County Admin Outside District Other Expense TOTAL EXPENSEOriginal Budget2001 3/20/2000 6/8/2000 6/19/2000 12/31/2026 12/31/2026‐ ‐ ‐ Cumulative Modified11,500,000 100,000 11,600,000 8,000,000 4,300,000 1,000,000 13,300,000 13,300,000 End of District Projected Actual Total9,728,286 67,148 9,795,434 8,981 6,995,563 70,000 296,498 15,138 131,739 1,509,649 9,027,568 9,027,568 Under / (Over) Budget1,771,714 32,852 1,804,566 7,991,019 (2,695,563) (70,000) 703,502 (15,138) (131,739) (1,509,649) 4,272,432 4,272,432 YearBaseCurrentFiscal DisparitieCapturedTax IncrementInterest Income TOTAL REVENUESProjectPaygo Jobs BillAdmin Expense County Admin Outside DistrictIncrement ReturnedTOTAL EXPENSE17 201712,674 437,075 ‐ 424,401 124.745% 527,513 914 528,427 ‐ 469,792 ‐ 5,026 1,218 ‐ ‐ 476,036 385,961 18 20188,859 462,500 ‐ 453,641 130.191% 588,476 2,456 590,932 ‐ 528,699 ‐ 11,235 1,275 ‐ ‐ 541,209 435,685 19 20198,859 475,000 ‐ 466,141 125.012% 580,634 2,178 582,813 ‐ 553,865 ‐ 24,677 1,166 131,739 ‐ 711,447 307,050 20 20208,859 475,000 ‐ 466,141 125.012% 580,634 1,535 582,170 ‐ 550,151 ‐ 24,677 1,166 ‐ ‐ 575,994 313,226 21 20218,859 475,000 ‐ 466,141 125.012% 580,634 1,566 582,200 ‐ 550,151 ‐ 24,677 1,166 ‐ ‐ 575,994 319,432 22 20228,859 475,000 ‐ 466,141 125.012% 580,634 1,597 582,232 ‐ 550,151 ‐ 24,677 1,166 ‐ ‐ 575,994 325,670 23 20238,859 475,000 ‐ 466,141 125.012% 580,634 1,628 582,263 ‐ 275,076 ‐ 24,677 1,166 ‐ 377,412 678,331 229,602 24 20248,859 475,000 ‐ 466,141 125.012% 580,634 1,148 581,782 ‐ ‐ 24,677 1,166 ‐ 377,412 403,255 408,129 25 20258,859 475,000 ‐ 466,141 125.012% 580,634 2,041 582,675 ‐ ‐ 24,677 1,166 ‐ 377,412 403,255 587,549 26 20268,859 475,000 ‐ 466,141 125.012% 580,634 2,938 583,572 ‐ ‐ 24,677 1,166 ‐ 377,412 403,255 767,865 DISTRICT INFORMATIONASSUMPTIONSRECOMMENDATIONSTIF YearTAX CAPACITYCurrent Local Tax RateRevenuesExpendituresEnding BalanceCASH FLOW PROJECTIONS ROLL UPTIF PLAN BUDGET ANALYSISDecertifiesRevenuesExpendituresTotal BudgetID Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 46 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 46 MILL CITY CONTINUED City of St. Louis ParkMill City Pursuant to M.S. 469.176 Subd. 3:Admin limit is based on: ExpensesExpensesEst expend 12,300,000 1,230,000.0 Actual expend 8,731,071 873,107.06 TEST 1:Admin per TIF Plan $1,000,000Actual TIF 9,728,286 972,828.59 NTEST 2:Estimated TIF Admin Allowable (10%) $1,230,000Estimated Total TIF Expenses per TIF Plan $12,300,000NTEST 3:Cumulative TIF Admin Allowable (10%) $873,107Pursuant to M.S. 469.1763 Subd. 2:Total TIF Expenses for the Project$8,731,071YDistrict Type:RedevelopmentDoes this section apply?YesRESULTS:Cumulative TIF Admin Allowable (10%) $873,107Certification Request Date: 6/8/2000Actual Admin Expenses $296,498 Does TIF Plan Specify Assisting Housing Outside Project Area? YesAvailable Admin $576,609If so, What is the Additional % Allowed in TIF Plan (Up to 10%): 10%Actual Percentage3.4%Total Pooling %: 25%TIF Year Year Admin. Expenses Total % Allowable Current Year Cummulative Admin CostsSpent Outside Cumulative25% Pooling for Redevelopment10% Pooling for HousingIncrement GeneratedCosts Authorized Required?Increment returned Net RetainedP&I Due after year end Excess (Not Excess)17 201787,847 4,070,987 2.2%527,513 4,494,735 87,847 1,035,837 ‐ ‐ 385,961 385,961 4,544,795 13,300,000 no00(8,755,205)18 201899,082 4,600,961 2.2%588,476 5,083,211 99,082 1,171,721 ‐ ‐ 435,685 435,685 5,135,727 13,300,000 no00(8,164,273)19 2019123,759 5,287,731 2.3%580,634 5,663,845 123,759 1,292,202 131,739 131,739 307,050 307,050 5,718,540 13,300,000 no00(7,581,460)20 2020148,436 5,839,048 2.5%580,634 6,244,480 148,436 1,412,684 ‐ ‐ 313,226 313,226 6,300,709 13,300,000 no00(6,999,291)21 2021173,113 6,390,365 2.7%580,634 6,825,114 173,113 1,533,166 ‐ ‐ 319,432 319,432 6,882,910 13,300,000 no00(6,417,090)22 2022197,790 6,941,682 2.8%580,634 7,405,749 197,790 1,653,647 ‐ ‐ 325,670 325,670 7,465,141 13,300,000 no00(5,834,859)23 2023222,467 7,595,336 2.9%580,634 7,986,383 222,467 179,007 ‐ ‐ 179,007 179,007 8,047,404 13,300,000 no00(5,252,596)24 2024247,144 7,973,914 3.1%580,634 8,567,017 247,144 178,527 ‐ ‐ 178,527 178,527 8,629,187 13,300,000 no00(4,670,813)25 2025271,821 8,352,492 3.3%580,634 9,147,652 271,821 179,420 ‐ ‐ 179,420 179,420 9,211,862 13,300,000 no 0 0(4,088,138)26 2026 296,498 8,731,071 3.4% 580,634 9,728,286 296,498 180,317 ‐ ‐ 180,317 180,317 9,795,434 13,300,000 no 0 0(3,504,566)EXCESS INCREMENTADMINISTRATIVE EXPENSE CALCULATION POOLING CALCULATION (25% Outside of District)Tax Increment25% for Qualified CostsAvailable for PoolingADMINISTRATIVE EXPENSE TESTAccummulated Totals Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 47 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 47 MILL CITY CONTINUED Maximum amount 3,431,137.00$ Interest Rate8.75%Note Issued Date 11/20/2000Final Payment 2/1/2023Total Tax Tax Increment CumualtiveIncrement Available at Tax IncrementDateInterest Due Available94.75%PaidNote Balance2/1/2016173,362.88 218,553.22 207,079.49 3,297,787.52 3,928,863.40$ 8/1/2016171,887.77 232,065.86 219,882.40 3,517,669.92 3,880,868.78$ 2/1/2017169,788.01 232,065.86 219,882.40 3,737,552.32 3,830,774.39$ 8/1/2017167,596.38 263,756.56 249,909.34 3,987,461.66 3,748,461.43$ 2/1/2018163,995.19 263,756.56 249,909.34 4,237,371.00 3,662,547.27$ 8/1/2018160,236.44 294,236.96 278,789.52 4,516,160.52 3,543,994.20$ 2/1/2019155,049.75 294,236.96 278,789.52 4,794,950.04 3,420,254.43$ 8/1/2019149,636.13 290,317.18 275,075.52 5,070,025.56 3,294,815.03$ 2/1/2020144,148.16 290,317.18 275,075.52 5,345,101.08 3,163,887.67$ 8/1/2020138,420.09 290,317.18 275,075.52 5,620,176.61 3,027,232.23$ 2/1/2021132,441.41 290,317.18 275,075.52 5,895,252.13 2,884,598.11$ 8/1/2021126,201.17 290,317.18 275,075.52 6,170,327.65 2,735,723.76$ 2/1/2022119,687.91 290,317.18 275,075.52 6,445,403.18 2,580,336.15$ 8/1/2022112,889.71 290,317.18 275,075.52 6,720,478.70 2,418,150.33$ 2/1/2023105,794.08 290,317.18 275,075.52 6,995,554.23 2,248,868.88$ TOTAL7,252,738.10 7,387,010.95 6,995,554.22 City of St. Louis ParkEconomic Development AuthorityPrincipal Ledger - MSP SLP Apartments, LLC Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 48 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 48 PARK COMMONS Description: Park Commons TIF District (County #1308) is a redevelopment district established on January 16, 2001. Originally, the district encompassed 38 parcels of land, most of which were in the Excelsior Boulevard District and was established to facilitate the construction of mixed-use housing and retail facilities. Construction has been completed on all phases and consists of 338 market rate apartments, 306 condominiums and approximately 86,500 sq/ft of commercial space. The EDA entered into a contract with Meridian Properties (TOLD Development) on January 16, 2001 and executed five amendments to it for various items including end uses, timing of construction, transfer of property and remediation issues. Overall the contract delineates PAYGO obligation for the development in an amount not to exceed $18 million at 8.5% interest, over a 22-year period. On July 1, 2003, the EDA issued a PAYGO note in the principal amount of $3.5 Million at 8.5% for the Phase I public improvements in Park Commons East. In addition, three (3) Phase Notes were issued on June 5, 2006 at 8.5% as follows: Phase NE Note for $4,668,633, Phase NW Note for $4,079,105 and Phase E Note for $3,300,715. Each Note is payable with 97% of the TIF generated from the parcels within each phase. In addition, the EDA issued an interfund loan of $3,145,046 for other public improvements. The loan is payable from the Park Commons TIF District to the Excelsior Boulevard TIF District, with interest at the rate of 4.53% (determined by the City’s financial advisor in accordance with the Contract). The improvements were financed from proceeds of the Series 1997A Bonds, and in accordance with Section on 7.3(c)(7) of the Contract, retained Available Tax Increment (as defined in the Contract) from the Park Commons TIF District is used to repay the EDA based on a payment schedule determined as if the City had issued new tax increment bonds (the effect of this provision was to create the interfund loan). Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 49 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 49 Expenditure of the Series 1997A Bond proceeds diverted funds that were available for ongoing redevelopment activities in the Project Area. Accordingly, the Authority determined to replenish the funds in the Excelsior Boulevard TIF District by making a loan from the Authority’s Development Fund to the account for the Excelsior Boulevard TIF District. By Resolution No. 07-02 approved January 16, 2007 (the 2007 Interfund Loan Resolution) the Authority approved a transfer of funds in the amount of $2,945,497.40 (representing the unpaid balance of the original interfund loan described in the Contract) from the Development Fund to the Excelsior Boulevard TIF District fund, thereby making those funds immediately available for redevelopment activities until termination of the Excelsior Boulevard TIF District on August 1, 2009. Due to the reallocation of the market value homestead credit to market value homestead exclusion in 2011, the tax capacities dropped for the pay 2012 taxes, thus impacting several of the Notes. Adopted……………………… 01/16/2001 Requested Date……………… 03/08/2001 Certified Date………………… 06/07/2001 First Increment………………… 07/2002 Decertifies…………………… 12/31/2027 REMAINDER OF PAGE LEFT INTENTIONALLY BLANK Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 50 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 50 Former and Current PID Numbers: Fiscal Disparities Election: The City elected to calculate fiscal disparities from outside (A election) the district. Frozen Tax Rate: 119.0650% PhaseFormer PID # New PID #New Use07-028-24-21-010707-028-24-21-010807-028-24-21-025007-028-24-21-025107-028-24-21-025506-028-24-43-007907-028-24-12-017007-028-24-12-017407-028-24-2-1011606-028-24-34-000806-028-24-34-001806-028-24-34-000906-028-24-34-001906-028-24-34-001006-028-24-34-0022 Wolfe Park07-028-24-21-009807-028-24-21-0257 Center Green Space/Median - City Owned07-028-24-21-010907-028-24-21-011207-028-24-21-011706-028-24-34-000106-028-24-34-001106-028-24-34-001206-028-24-34-001307-028-24-21-050407-028-24-21-0099 07-028-24-21-0510 (formerly part of 7-028-24-21-0503)07-028-24-21-0254 07-028-24-21-0511 (formerly part of 7-028-24-21-0503)06-028-24-34-000206-028-24-34-0024 Outlot - Parking06-028-24-34-000306-028-24-34-000406-028-24-34-000506-028-24-34-000606-028-24-34-000706-028-24-34-0016NE06-028-24-34-0025 thru 06-028-24-34-0265Grand Condominiums at Excelsior06-028-24-34-0267 thru 06-028-24-34-0330Grand Condominiums at Excelsior1A07-028-24-21-0256 Excelsior and Grand Apartment Over Retail1B07-028-24-12-0175Excelsior and Grand Apartment Over RetailCityNWCentral Green SpaceMedian - City Owned 07-028-24-21-0258EDA Vacant Land (next to Bally's) & Part of Princeton Ln07-028-24-21-0261 thru 07-028-24-21-0502Grand Condominiums at ExcelsiorStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 51 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 51 Allowable Uses: MN Statute 469.176 subd. 4j specifies the activities on which tax increment from a redevelopment district may be spent. In general, tax increment must be spent on correcting those conditions which caused the area to be designated a redevelopment district. Allowable uses include property acquisition, demolition, rehabilitation, installation of public utilities, road, sidewalks, public parking facilities, and allowable administrative expenses. Obligations: There are currently five obligations in this district as follows:  $3,145,046 Interfund loan at 4.53%. This Loan was used to finance the initial public improvements and has a priority on TIF generated from the District.  $3,500,000 PAYGO Note at 8.5% interest for Phase I. This Note was issued on July 1, 2003 and is payable from 97% of the increment generated from the parcels making up the development after a deduction is made for payment of the Interfund Loan above.  $3,300,715 PAYGO Note at 8.5% for Excelsior and Grand Phase E. This Note was issued on June 5, 2006 and is payable from 97% of the increment generated from the parcels making up the development.  $4,668,633 PAYGO Note at 8.5% for Excelsior and Grand Phase NE. This Note was issued on June 5, 2006 and is payable from 97% of the increment generated from the parcels making up the development.  $4,079,105 PAYGO Note at 8.5% for Excelsior and Grand Phase NW. This Note was issued on June 5, 2006 and is payable from 97% of the increment generated from the parcels making up the development. Three Year Rule: The three-year rule states that, within three years from certification date, bonds much be issued, the authority has acquired land or has caused public improvements to be constructed in the district. Park Commons met the requirement when the City approved the Development Agreement with Meridian Properties on January 16, 2001. Four Year Rule: MN Statute 469.176 subd. 6 requires that, within four years from certification date, certain activities must have taken place on each parcel within the TIF district. Required activities include demolition, rehabilitation, renovation and site improvements. The four-year deadline was June 2005 and was met because qualifying activities happened prior to this date. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 52 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 52 Five Year Rule: At least 75% of tax increment revenues generated within Park Commons must be used to pay for qualified costs within the district. The five-year deadline was June 2006. Since the EDA has entered into contracts and obligated TIF dollars, the Five-Year rule has been satisfied. Geographic Enlargements: MN Statute 469.175 subd. 4 (f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. The district may not be enlarged after June 2006. Recommendations: 1. Use of TIF after Interfund Loan (IFL) and Excelsior and Grand Notes are repaid. It is anticipated that the IFL will be repaid on February 1, 2021. Approximately $279,000/year was being applied to repayment on this obligation. Starting with the August 1, 2021 payment, this amount will be utilized on a prorated basis to repay the Phase Notes. It is anticipated that the Excelsior and Grand Note Phase I will be repaid on August 1, 2022. Approximately $1 million/year was being applied to repayment on this obligation. Starting after the August 1, 2022 payment, this amount will be utilized on a prorated basis to repay the Phase Notes. 2. Pooling Analysis and Use of Funds. It is anticipated that approximately $742,000 will be used for Southwest Light Rail Transit and for street rehab in 2020. It is further estimated that there will be approximately $2.2M available for pooling for qualified redevelopment costs when the obligations are paid in 2028. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 53 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 53 PARK COMMONS CONTINUED City of St. Louis ParkPark CommonsORIGINALInterest Income 0.50% 1) Limited Pooling options availableDistrict TypeRedevelopment Admin Expense 3.00% 2) Budget Mod: Not Recommended at this timeProject Area3) Admin. Expense is currently:for year 2019 0.7%At or Under LimitFiscal DisparitiesA ElectionCounty Number1308Frozen RateUTA #1 119.065%UTA #2 0.000%UTA #3 0.000%Current Year 2019First Receipt City Approved Cert Request Certified Legal Term Expected TermTax IncrementOther RevenuesInterest Income TOTAL REVENUESProject Interest ExpenseBondsAdmin Expense County Admin Outside District TOTAL EXPENSEOriginal Budget2002 1/16/2001 3/8/2001 6/7/2001 12/31/2027 12/31/2027‐ ‐ ‐ Cumulative Modified75,000,000 3,250,000 250,000 78,500,000 49,750,000 45,000,000 7,500,000 102,250,000 102,250,000 End of District Projected Actual Total49,152,811 50,312 49,203,123 7,396 4,733,317 9,615,886 7,969,231 11,680,598 10,614,914 ‐ 968,297 91,427 1,252,993 ‐ 46,934,059 46,934,059 Under / (Over) Budget25,847,189 199,688 29,296,877 49,742,604 40,266,683 (9,615,886) (7,969,231) (11,680,598) (10,614,914) ‐ 6,531,703 (91,427) (1,252,993) ‐ 55,315,941 55,315,941 YearBase Currentiscal DisparitieCapturedTax IncrementInterest Income TOTAL REVENUESProjectTOLD Excel and Grand Phase EPhase NE Phase NW Bonds Admin Expense County Admin Outside DistrictIncrement ReturnedTOTAL EXPENSE15 2016112,685 1,995,905 ‐ 1,883,220 128.561% 2,226,110 2,226,110 ‐ 279,317 737,328 270,127 442,759 427,443 ‐ 10,440 6,066 ‐ ‐ 2,173,480 926,567 16 201772,035 2,349,411 ‐ 2,277,376 124.745% 2,652,452 114 2,652,566 ‐ 279,317 881,761 278,355 442,129 475,217 ‐ 10,985 6,517 ‐ ‐ 2,374,281 1,204,852 17 201872,035 2,302,146 ‐ 2,230,111 130.191% 2,633,103 2,626 2,635,729 ‐ 279,317 976,442 303,186 496,951 512,157 ‐ 6,133 6,387 ‐ ‐ 2,580,573 1,260,008 18 201972,035 2,399,370 ‐ 2,327,335 125.012% 2,761,066 6,300 2,767,366 ‐ 279,317 1,035,706 299,242 480,190 465,105 ‐ 82,832 6,066 ‐ ‐ 2,648,457 1,378,917 19 202072,035 2,399,370 ‐ 2,327,335 125.012% 2,761,066 6,895 2,767,960 ‐ 279,317 1,042,814 333,607 575,428 599,296 ‐ 82,832 6,066 741,666 ‐ 3,661,026 485,851 20 202172,035 2,399,370 ‐ 2,327,335 125.012% 2,761,066 2,429 2,763,495 ‐ 161,073 1,042,814 333,607 575,428 599,296 ‐ 82,832 6,066 ‐ ‐ 2,801,116 448,230 21 202272,035 2,399,370 ‐ 2,327,335 125.012% 2,761,066 2,241 2,763,307 ‐ 566,261 479,123 789,288 800,858 ‐ 82,832 6,066 ‐ ‐ 2,724,427 487,111 22 202372,035 2,399,370 ‐ 2,327,335 125.012% 2,761,066 2,436 2,763,501 ‐ 624,639 1,003,147 1,002,419 ‐ 82,832 6,066 ‐ ‐ 2,719,103 531,508 23 202472,035 2,399,370 ‐ 2,327,335 125.012% 2,761,066 2,658 2,763,723 ‐ 624,639 1,003,147 1,002,419 ‐ 82,832 6,066 ‐ ‐ 2,719,103 576,128 24 202572,035 2,399,370 ‐ 2,327,335 125.012% 2,761,066 2,881 2,763,946 ‐ 624,639 1,003,147 1,002,419 ‐ 82,832 6,066 ‐ ‐ 2,719,103 620,971 25 202672,035 2,399,370 ‐ 2,327,335 125.012% 2,761,066 3,105 2,764,171 ‐ 624,639 1,003,147 737,967 ‐ 82,832 6,066 ‐ ‐ 2,454,651 930,491 26 202772,035 2,399,370 ‐ 2,327,335 125.012% 2,761,066 4,652 2,765,718 ‐ 624,639 331,711 ‐ ‐ 82,832 6,066 ‐ ‐ 1,045,248 2,650,961 27 2028‐ ‐ ‐ ‐ 0.000%‐ 13,255 13,255 ‐ 312,320 ‐ ‐ ‐ 82,832 ‐ ‐ 395,152 2,269,064 Paygo Notes DISTRICT INFORMATIONASSUMPTIONSRECOMMENDATIONSTIF PLAN BUDGET ANALYSISDecertifiesRevenuesExpendituresTotal BudgetCASH FLOW PROJECTIONS ROLL UPTIF YearTAX CAPACITYCurrent Local Tax RateRevenuesExpendituresEnding BalanceID Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 54 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 54 PARK COMMONS CONTINUED City of St. Louis ParkPark CommonsPursuant to M.S. 469.176 Subd. 3:Admin limit is based on:ExpensesExpensesEst expend94,750,000 9,475,000.0 Actual expend 45,965,762 4,596,576.24 TEST 1:Admin per TIF Plan$7,500,000Actual TIF49,152,811 4,915,281.10 NTEST 2:Estimated TIF Admin Allowable (10%) $9,475,000Estimated Total TIF Expenses per TIF Plan $94,750,000NTEST 3:Cumulative TIF Admin Allowable (10%) $4,596,576Pursuant to M.S. 469.1763 Subd. 2:Total TIF Expenses for the Project$45,965,762YDistrict Type:RedevelopmentDoes this section apply?YesRESULTS:Cumulative TIF Admin Allowable (10%) $4,596,576Certification Request Date: 3/8/2001Actual Admin Expenses $968,297 Does TIF Plan Specify Assisting Housing Outside Project Area? NoAvailable Admin $3,628,279If so, What is the Additional % Allowed in TIF Plan (Up to 10%): 0%Actual Percentage2.1%Total Pooling %: 25%TIF Year Year Admin. Expenses Total % Allowable Current Year Cummulative Admin CostsSpent Outside CumulativeIncrement GeneratedCosts Authorized Required?Increment returned Net RetainedP&I Due after year end Excess (Not Excess)15 2016 122,859 17,968,960 0.7% 2,226,110 19,017,665 122,859 4,631,557 ‐ 511,327 926,567 19,018,386 102,250,000 no00(83,231,614)16 2017133,844 20,332,256 0.7%2,652,452 21,670,117 133,844 5,283,685 ‐ 511,327 1,204,852 21,670,952 102,250,000 no00(80,579,048)17 2018139,977 22,906,696 0.6%2,633,103 24,303,220 139,977 5,935,828 ‐ 511,327 1,260,008 24,306,681 102,250,000 no00(77,943,319)18 2019222,809 25,472,321 0.9%2,761,066 27,064,286 222,809 6,543,262 ‐ 511,327 1,378,917 27,074,047 102,250,000 no00(75,175,953)19 2020305,641 29,050,515 1.1%2,761,066 29,825,351 305,641 7,150,697 741,666 1,252,993 485,851 29,842,007 102,250,000 no00(72,407,993)20 2021388,473 31,768,799 1.2%2,761,066 32,586,417 388,473 7,758,131 ‐ 1,252,993 448,230 32,605,502 102,250,000 no00(69,644,498)21 2022471,305 34,410,393 1.4%2,761,066 35,347,483 471,305 8,365,566 ‐ 1,252,993 487,111 35,368,809 102,250,000 no00(66,881,191)22 2023554,137 37,046,665 1.5%2,761,066 38,108,548 554,137 8,973,000 ‐ 1,252,993 531,508 38,132,310 102,250,000 no00(64,117,690)23 2024636,969 39,682,936 1.6%2,761,066 40,869,614 636,969 9,580,435 ‐ 1,252,993 576,128 40,896,033 102,250,000 no00(61,353,967)24 2025719,801 42,319,208 1.7%2,761,066 43,630,680 719,801 10,187,869 ‐ 1,252,993 620,971 43,659,979 102,250,000 no00(58,590,021)252026802,633 44,691,027 1.8%2,761,066 46,391,745 802,633 10,795,304 ‐ 1,252,993 930,491 46,424,150 102,250,000 no00(55,825,850)26 2027885,465 45,653,443 1.9%2,761,066 49,152,811 885,465 11,402,738 ‐ 1,252,993 2,650,961 49,189,868 102,250,000 no00(53,060,132)27 2028968,297 45,965,762 2.1%‐ 49,152,811 968,297 11,319,906 ‐ 1,252,993 2,269,064 49,203,123 102,250,000 no00(53,046,877)EXCESS INCREMENTADMINISTRATIVE EXPENSE TESTADMINISTRATIVE EXPENSE CALCULATION POOLING CALCULATION (25% Outside of District)Tax Increment25% for Qualified CostsAvailable for PoolingAccummulated Totals Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 55 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 55 PARK COMMONS CONTINUED City of St Louis Park, MNTOLD Internal Loan for Public Improvements4.53%Date Payment Principal Interest Note BalanceProject Costs 3,145,046.07Net Cap I 116,502.14 3,261,548.218/1/2002 0.00 3,261,548.212/1/2003 0.00 3,261,548.218/1/2003 0.00 3,261,548.212/1/2004 0.00 3,261,548.218/1/2004 128,243.90 54,369.83 73,874.07 3,207,178.382/1/2005 114,587.37 41,944.78 72,642.59 3,165,233.608/1/2005 139,658.56 67,966.02 71,692.54 3,097,267.582/1/2006 139,658.56 69,505.45 70,153.11 3,027,762.138/1/2006 139,658.56 71,079.75 68,578.81 2,956,682.382/1/2007 139,658.56 72,689.70 66,968.86 2,883,992.688/1/2007 139,658.56 74,336.13 65,322.43 2,809,656.552/1/2008 139,658.56 76,019.84 63,638.72 2,733,636.718/1/2008 139,658.56 77,741.69 61,916.87 2,655,895.022/1/2009 139,658.56 79,502.54 60,156.02 2,576,392.488/1/2009 139,658.56 81,303.27 58,355.29 2,495,089.212/1/2010 139,658.56 83,144.79 56,513.77 2,411,944.428/1/2010 139,658.56 85,028.02 54,630.54 2,326,916.402/1/2011 139,658.56 86,953.90 52,704.66 2,239,962.508/1/2011 139,658.56 88,923.41 50,735.15 2,151,039.092/1/2012 139,658.56 90,937.52 48,721.04 2,060,101.578/1/2012 139,658.56 92,997.26 46,661.30 1,967,104.312/1/2013 139,658.56 95,103.65 44,554.91 1,872,000.668/1/2013 139,658.56 97,257.75 42,400.81 1,774,742.912/1/2014 139,658.56 99,460.63 40,197.93 1,675,282.288/1/2014 139,658.56 101,713.42 37,945.14 1,573,568.862/1/2015 139,658.56 104,017.23 35,641.33 1,469,551.638/1/2015 139,658.56 106,373.22 33,285.34 1,363,178.412/1/2016 139,658.56 108,782.57 30,875.99 1,254,395.848/1/2016 139,658.56 111,246.49 28,412.07 1,143,149.352/1/2017 139,658.56 113,766.23 25,892.33 1,029,383.128/1/2017 139,658.56 116,343.03 23,315.53 913,040.092/1/2018 139,658.56 118,978.20 20,680.36 794,061.898/1/2018 139,658.56 121,673.06 17,985.50 672,388.832/1/2019 139,658.56 124,428.95 15,229.61 547,959.888/1/2019 139,658.56 127,247.27 12,411.29 420,712.612/1/2020 139,658.56 130,129.42 9,529.14 290,583.198/1/2020 139,658.56 133,076.85 6,581.71 157,506.342/1/2021 161,073.86 157,506.34 3,567.52(0.00) Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 56 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 56 PARK COMMONS CONTINUED Maximum amount3,500,000.00$ Interest Rate8.50%Note Issued Date7/1/2003Last payment date2/1/2026TIF will be applied first to internal loan, then iffunds remain, to TOLD per this schedule!Total Tax Tax Increment CumulativeSend letter to Roger for TIF applied to internal loan.Increment Available at Tax IncrmentDate Interest Due Available 97.00% Paid Note Balance8/1/2016192,160.25 411,275.01 398,936.76 4,070,089.82 4,314,641.13$ 2/1/2017183,372.25 350,398.53 339,886.57 4,409,976.39 4,158,126.81$ 8/1/2017176,720.39 558,633.56 541,874.55 4,951,850.94 3,792,972.64$ 2/1/2018161,201.34 476,619.60 462,321.01 5,414,171.96 3,491,852.97$ 8/1/2018148,403.75 530,021.55 514,120.90 5,928,292.86 3,126,135.82$ 2/1/2019132,860.77 530,204.77 514,298.63 6,442,591.49 2,744,697.96$ 8/1/2019116,649.66 537,533.01 521,407.02 6,963,998.51 2,339,940.61$ 2/1/202099,447.48 537,533.01 521,407.02 7,485,405.53 1,917,981.06$ 8/1/202081,514.20 537,533.01 521,407.02 8,006,812.55 1,478,088.24$ 2/1/202162,818.75 537,533.01 521,407.02 8,528,219.57 1,019,499.97$ 8/1/202143,328.75 537,533.01 521,407.02 9,049,626.58 541,421.70$ 2/1/202223,010.42 537,533.01 521,407.02 9,571,033.60 43,025.10$ 8/1/20221,828.57 46,240.88 44,853.66 9,615,887.27 0.00$ TOTAL6,115,887.27$ 10,251,071.39$ 9,615,887.27$ City of St. Louis ParkEconomic Development AuthorityPrincipal Ledger - Excelsior and Grand Tax Increment District Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 57 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 57 PARK COMMONS CONTINUED Maximum amount 3,300,715$ Interest Rate 8.50%Note Issued Date 6/5/2006Total Tax Tax Increment CumulativeIncrement Available at Tax IncrementDate Interest Due Available 97.00% Paid Note Balance8/1/2016 166,204.48 148,375.65 143,924.38 2,506,599.30 3,932,973.80$ 2/1/2017 167,151.39 128,749.60 124,887.11 2,631,486.41 3,975,238.08$ 8/1/2017 168,947.62 158,214.12 153,467.70 2,784,954.11 3,990,718.00$ 2/1/2018 169,605.51 150,695.98 146,175.10 2,931,129.21 4,014,148.41$ 8/1/2018 170,601.31 161,866.84 157,010.83 3,088,140.04 4,027,738.88$ 2/1/2019 171,178.90 136,534.43 132,438.40 3,220,578.44 4,066,479.39$ 8/1/2019 172,825.37 171,962.14 166,803.28 3,387,381.71 4,072,501.49$ 2/1/2020 173,081.31 171,962.14 166,803.28 3,554,184.99 4,078,779.53$ 8/1/2020 173,348.13 171,962.14 166,803.28 3,720,988.27 4,085,324.38$ 2/1/2021 173,626.29 171,962.14 166,803.28 3,887,791.54 4,092,147.39$ 8/1/2021 173,916.26 171,962.14 166,803.28 4,054,594.82 4,099,260.38$ 2/1/2022 174,218.57 171,962.14 166,803.28 4,221,398.09 4,106,675.67$ 8/1/2022 174,533.72 321,979.00 312,319.63 4,533,717.72 3,968,889.75$ 2/1/2023 168,677.81 321,979.00 312,319.63 4,846,037.35 3,825,247.94$ 8/1/2023 162,573.04 321,979.00 312,319.63 5,158,356.98 3,675,501.35$ 2/1/2024 156,208.81 321,979.00 312,319.63 5,470,676.61 3,519,390.52$ 8/1/2024149,574.10 321,979.00 312,319.63 5,782,996.24 3,356,644.99$ 2/1/2025142,657.41 321,979.00 312,319.63 6,095,315.87 3,186,982.77$ 8/1/2025135,446.77 321,979.00 312,319.63 6,407,635.50 3,010,109.91$ 2/1/2026127,929.67 321,979.00 312,319.63 6,719,955.13 2,825,719.95$ 8/1/2026120,093.10 321,979.00 312,319.63 7,032,274.76 2,633,493.42$ 2/1/2027111,923.47 321,979.00 312,319.63 7,344,594.39 2,433,097.26$ 8/1/2027103,406.63 321,979.00 312,319.63 7,656,914.02 2,224,184.26$ 2/1/202894,527.83 321,979.00 312,319.63 7,969,233.65 2,006,392.47$ TOTAL6,674,911.12 8,217,386.95 7,969,233.65 City of St. Louis ParkEconomic Development AuthorityMeridian Properties Real Estate Development LLCPhase E Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 58 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 58 PARK COMMONS CONTINUED Maximum amount4,668,633$ Interest Rate8.50%Note Issued Date 6/5/2006Last Payment DateTotal Tax Tax Increment Tax IncrementIncrement Available atPaidDateInterest Due Available97.00%Note Balance8/1/2016205,239.08 259,616.71 251,828.22 251,828.22 4,782,565.69$ 2/1/2017203,259.04 180,553.64 175,137.03 175,137.03 4,810,687.70$ 8/1/2017204,454.23 275,249.58 266,992.09 266,992.09 4,748,149.84$ 2/1/2018201,796.37 211,402.17 205,060.10 205,060.10 4,744,886.10$ 8/1/2018201,657.66 300,918.07 291,890.53 291,890.53 4,654,653.23$ 2/1/2019197,822.76 198,428.20 192,475.35 192,475.35 4,660,000.64$ 8/1/2019198,050.03 296,612.56 287,714.18 287,714.18 4,570,336.49$ 2/1/2020194,239.30 296,612.56 287,714.18 287,714.18 4,476,861.60$ 8/1/2020190,266.62 296,612.56 287,714.18 287,714.18 4,379,414.04$ 2/1/2021186,125.10 296,612.56 287,714.18 287,714.18 4,277,824.95$ 8/1/2021181,807.56 296,612.56 287,714.18 287,714.18 4,171,918.33$ 2/1/2022177,306.53 296,612.56 287,714.18 287,714.18 4,061,510.67$ 8/1/2022172,614.20 517,086.00 501,573.42 501,573.42 3,732,551.46$ 2/1/2023158,633.44 517,086.00 501,573.42 501,573.42 3,389,611.47$ 8/1/2023144,058.49 517,086.00 501,573.42 501,573.42 3,032,096.54$ 2/1/2024128,864.10 517,086.00 501,573.42 501,573.42 2,659,387.23$ 8/1/2024113,023.96 517,086.00 501,573.42 501,573.42 2,270,837.76$ 2/1/202596,510.60 517,086.00 501,573.42 501,573.42 1,865,774.95$ 8/1/202579,295.44 517,086.00 501,573.42 501,573.42 1,443,496.96$ 2/1/202661,348.62 517,086.00 501,573.42 501,573.42 1,003,272.16$ 8/1/202642,639.07 517,086.00 501,573.42 501,573.42 544,337.81$ 2/1/202723,134.36 517,086.00 331,710.82 331,710.82 235,761.35$ TOTAL7,268,191.59 13,242,932.01 11,680,597.93 11,680,597.68 City of St. Louis ParkEconomic Development AuthorityMeridian Properties Real Estate Development LLCPhase NE Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 59 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 59 PARK COMMONS CONTINUED Maximum amount4,079,105$ Interest Rate8.50%Note Issued Date 6/5/2006Total Tax Tax Increment CumulativeIncrement Available at Tax IncrementDateInterest Due Available97.00%PaidNote Balance8/1/2016200,738.06 246,116.38 238,732.88 3,417,758.44 4,685,253.71$ 2/1/2017199,123.28 194,069.16 188,247.09 3,606,005.53 4,696,129.90$ 8/1/2017199,585.52 295,845.61 286,970.24 3,892,975.77 4,608,745.18$ 2/1/2018195,871.67 203,683.92 197,573.40 4,090,549.17 4,607,043.45$ 8/1/2018195,799.35 324,313.21 314,583.81 4,405,132.99 4,488,258.99$ 2/1/2019190,751.01 170,574.34 165,457.11 4,570,590.10 4,513,552.88$ 8/1/2019191,826.00 308,915.37 299,647.91 4,870,238.01 4,405,730.97$ 2/1/2020187,243.57 308,915.37 299,647.91 5,169,885.92 4,293,326.63$ 8/1/2020182,466.38 308,915.37 299,647.91 5,469,533.82 4,176,145.10$ 2/1/2021177,486.17 308,915.37 299,647.91 5,769,181.73 4,053,983.36$ 8/1/2021172,294.29 308,915.37 299,647.91 6,068,829.64 3,926,629.74$ 2/1/2022166,881.76 308,915.37 299,647.91 6,368,477.55 3,793,863.60$ 8/1/2022161,239.20 516,711.00 501,209.67 6,869,687.22 3,453,893.13$ 2/1/2023146,790.46 516,711.00 501,209.67 7,370,896.89 3,099,473.92$ 8/1/2023131,727.64 516,711.00 501,209.67 7,872,106.56 2,729,991.89$ 2/1/2024116,024.66 516,711.00 501,209.67 8,373,316.23 2,344,806.88$ 8/1/202499,654.29 516,711.00 501,209.67 8,874,525.90 1,943,251.50$ 2/1/202582,588.19 516,711.00 501,209.67 9,375,735.57 1,524,630.02$ 8/1/202564,796.78 516,711.00 501,209.67 9,876,945.24 1,088,217.12$ 2/1/202646,249.23 516,711.00 501,209.67 10,378,154.91 633,256.68$ 8/1/202626,913.41 516,711.00 236,757.32 10,614,912.23 423,412.77$ TOTAL7,015,532.00 12,258,076.95 10,614,912.23 City of St. Louis ParkEconomic Development AuthorityMeridian Properties Real Estate Development LLCPhase NW Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 60 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 60 EDGEWOOD Description: Edgewood (County #1309) is a soils condition district established on September 15, 2003. Originally, the district encompassed one (1) parcel of land and was established to facilitate cleanup of a contaminated site and the construction of an office/warehouse. Expenditures from this district are to be used to mitigate certain hazardous substances in order to facilitate construction of a 79,000 square foot office/warehouse facility. This district was certified by the County on April 26, 2004 and began to receive increment in 2005. The interest rate on the note has been set at 1.7% due to reduced interest loans from other governmental entities. The EDA has pledged 95% of tax increment revenues from this District for a PAYGO note with Edgewood Investors, LLC (originally Real Estate Recycling), in an amount not to exceed $600,000 in two separate notes. Principal and interest were first paid on August 1, 2006 and is paid each February 1 and August 1 through February 1, 2023. For administrative purposes, the notes are being accounted for as one obligation. A soils district cannot pool funds and will need to be decertified as soon as the original obligation is paid. Adopted……………………….… 09/15/2003 Requested Date……………….. 11/24/2003 Certified Date…………………....04/26/2004 First Increment……..…………….. 07/2005 Anticipated Decertification…… 12/31/2019 Former and Current PID Numbers: Former PID # Former UseNew PID #New Use08-117-21-14-0043 ConAgraSame as FormerMulti-Tenant Office/WarehouseStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 61 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 61 Fiscal Disparities Election: The City elected to calculate fiscal disparities from inside (B election) the district. Frozen Tax Rate: 120.9420% Allowable Uses: MN Statute 469.176 subd. 4b specifies the activities on which tax increment from a soils condition district may be spent. In general, tax increment may only be used to acquire property and for removal and remediation actions and allowable administrative expenses. Obligations: There is one PAYGO Note that was issued for this project on February 1, 2004 as follows:  $600,000 PAYGO Note at 1.7% interest. This Note was issued on February 1, 2004 to Edgewood Investors LLC and is paid from 95% of the available increment. The Note was repaid on August 1, 2019. Other Development Agreement Compliance: 1. Repayment of Assistance. If the property is transferred within 5 years of issuance of the Certificate of Occupancy, an analysis of repayment of a portion of the assistance is to be completed. If the property does not transfer ownership in this timeframe, then no look back is required. The property ownership was never transferred in the 5-year period. Three Year Rule: The three-year rule states that, within three years from certification date, bonds much be issued, the authority has acquired land or has caused public improvements to be constructed in the district. The Edgewood District met the requirement when the City approved the Development Agreement with Edgewood Investors, LLC. A Tax Increment Financing Note was authorized on August 1, 2006. Four Year Rule: MN Statute 469.176 subd. 6 requires that, within four years from certification date, certain activities must have taken place on each parcel within the TIF district. Required activities include demolition, rehabilitation, renovation and site improvements. The four-year deadline was April 2008 and was met because qualified activities happened prior to that time. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 62 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 62 Geographic Enlargements: MN Statute 469.175 subd. 4 (f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. The district may not be enlarged after April 2009. Recommendations: Decertification. We recommend that this District is decertified by year end 2019 due to final payment of the outstanding obligation. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 63 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 63 EDGEWOOD CONTINUED City of St. Louis ParkEdgewoodORIGINALHSS Geo. EnlargementInterest Income 0.50% 1) Limited Pooling options availableDistrict TypeSoils ConditionAdmin Expense2) Budget Mod: Not Recommended at this timeProject Area3) Admin. Expense is currently: for year 20196.2%At or Under LimitFiscal DisparitiesB ElectionCounty Number1309Frozen RateUTA #1 120.942% 0.000% 0.000%UTA #2 0.000%UTA #3 0.000%Current Year 2019First ReceiptCity Approved Cert Request Certified Legal Term Expected Term Tax IncrementInterest Income TOTAL REVENUESProjectPaygoAdmin Expense County Admin Outside District Other Expense TOTAL EXPENSEOriginal Budget2005 9/15/2003 11/24/2003 4/26/2004 12/31/2025 12/31/2019‐ ‐ ‐ Cumulative Modified1,675,000 1,675,000 1,200,000 308,000 167,000 1,675,000 1,675,000 End of District Projected Actual Total752,049 1,220 753,269 ‐ 697,495 43,795 4,212 ‐ ‐ 745,502 745,502 Under / (Over) Budget922,951 (1,220) 921,731 1,200,000 (389,495) 123,205 (4,212) ‐ ‐ 929,498 929,498 YearBaseCurrent Fiscal Disparities CapturedTax IncrementInterest Income TOTAL REVENUESProjectPaygoAdmin Expense County Admin Outside DistrictIncrement ReturnedTOTAL EXPENSE5 2015‐ 0.000% 514,510 1,220 515,730 481,801 31,943 1,775 ‐ ‐ 515,519 211 17 201619,250 96,290 22,862 54,178 128.561%65,288 65,288 ‐ 47,350 6,068 605 ‐ ‐ 54,023 11,476 18 201719,250 96,290 25,117 51,923 124.745%52,422 52,422 ‐ 63,082 1,086 608 ‐ ‐ 64,776 (878) 19 201819,250 94,250 25,679 49,321 130.191%59,435 59,435 ‐ 56,379 1,566 612 ‐ ‐ 58,557 0 20 201919,250 94,250 24,883 50,117 125.012%60,394 0 60,394 ‐ 48,883 1,566 612 ‐ 51,061 9,333 21 2020‐ ‐ ‐ ‐ 0.000%‐ ‐ ‐ 1,566 ‐ ‐ 1,566 7,767 DISTRICT INFORMATIONASSUMPTIONSRECOMMENDATIONSTIF YearTAX CAPACITYCurrent Local Tax RateRevenuesExpendituresEnding BalanceCASH FLOW PROJECTIONS ROLL UPTIF PLAN BUDGET ANALYSISDecertifiesRevenuesExpendituresTotal BudgetID Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 64 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 64 EDGEWOOD CONTINUED City of St. Louis ParkEdgewoodPursuant to M.S. 469.176 Subd. 3:Admin limit is based on: RevenuesRevenuesEst expend 1,508,000 150,800.0 Actual expend701,707 70,170.73 TEST 1:Admin per TIF Plan $167,000Actual TIF 752,049 75,204.93 NTEST 2:Estimated TIF Admin Allowable (10%) $167,500Estimated Total TIF Revenues per TIF Plan$1,675,000NTEST 3:Cumulative TIF Admin Allowable (10%) $75,205Pursuant to M.S. 469.1763 Subd. 2:Total TIF Revenues for the Project$752,049YDistrict Type:Soils ConditionDoes this section apply?YesRESULTS:Cumulative TIF Admin Allowable (10%) $75,205Certification Request Date: 11/24/2003Actual Admin Expenses $43,795 Does TIF Plan Specify Assisting Housing Outside Project Area? NoAvailable Admin $31,410If so, What is the Additional % Allowed in TIF Plan (Up to 10%): 10%Actual Percentage5.8%Total Pooling %: 20%TIF Year Year Admin. Expenses Total % Allowable Current Year Cummulative Admin Costs Spent Outside CumulativeIncrement GeneratedCosts Authorized Required?Increment returned Net RetainedP&I Due after year end Excess (Not Excess)5 201531,943 515,730 6.2%514,510 31,943 515,730 1,675,000 no00(1,159,270)17 201638,011 581,018 6.5%65,288 579,798 38,011 77,949 ‐ ‐ 11,476 581,018 1,675,000 no00(1,093,982)18 201739,097 633,440 6.2%52,422 632,220 39,097 87,347 ‐ ‐ (878) 633,440 1,675,000 no00(1,041,560)19 201840,663 692,875 5.9%59,435 691,655 40,663 97,668 ‐ ‐ 0 692,875 1,675,000 no00(982,125)20 201942,229 753,269 5.6%60,394 752,049 42,229 108,181 ‐ ‐ 9,333 753,269 1,675,000 no00(921,731)21 202043,795 753,269 5.8%‐ 752,049 43,795 106,615 ‐ ‐ 7,767 753,269 1,675,000 no00(921,731)EXCESS INCREMENTADMINISTRATIVE EXPENSE CALCULATION POOLING CALCULATION (20% Outside of District)Tax Increment20% for Qualified CostsAvailable for PoolingADMINISTRATIVE EXPENSE TESTAccummulated Totals Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 65 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 65 EDGEWOOD CONTINUED Maximum amount600,000$ Interest Rate1.70%Note Issued Date 2/1/2004Final Pyament 2/1/2023Total Tax Tax Increment CummulativeIncrement Available at Tax IncrementDateInterest Due Available 95.00%PaidNote Balance8/1/20161,543.51 32,644.00 19,462.03 529,150.63 163,671.06$ 2/1/20171,391.20 32,644.00 26,900.16 556,050.79 138,162.11$ 8/1/20171,174.38 30,050.73 36,181.63 592,232.42 103,154.85$ 2/1/2018876.82 29,659.00 28,147.10 620,379.52 75,884.57$ 8/1/2018645.02 29,718.00 28,232.10 648,611.62 48,297.49$ 2/1/2019410.53 29,718.00 28,232.10 676,843.72 20,475.91$ 8/1/2019174.05 29,718.00 20,651.20 697,494.92 -$ TOTAL97,493.68$ 740,171.22$ 697,494.92$ City of St. Louis ParkEconomic Development AuthorityPrincipal Ledger - Edgewood InvestorsStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 66 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 66 WOLFE LAKE COMMERCIAL REDEVELOPMENT Description: Wolfe Lake TIF District (County #1310) is a redevelopment district established on July 7, 2003. Originally the district encompassed four (4) parcels of land and was established to facilitate the rehabilitation of an area adjacent to West 36th Street and Belt Line Boulevard into office and other commercial uses. These parcels were eventually replatted into two (2) parcels when development was commenced. This district was certified by the County on April 26, 2004 and first increment was received in 2006. Adopted……………………..….…07/07/2003 Requested Date………………… 12/15/2003 Certified Date……………….…….04/26/2004 First Increment………………..…......07/2006 Anticipated Decertification……....12/31/2031 Former and Current PID Numbers: Fiscal Disparities Election: The City elected to calculate fiscal disparities from inside (B election) the district. Frozen Tax Rate: 120.9240% Allowable Uses: Former PID # Former UseNew PID #New Use06-028-24-31-0020 Vacant Land06-028-24-31-0022Wolfe Lake West Multi-Tenant Commercial06-028-24-31-0020 Multi-Tenant Building06-028-24-31-0023Wolfe Lake East - OfficeStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 67 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 67 MN Statute 469.176 subd. 4j specifies the activities on which tax increment from a redevelopment district may be spent. In general, tax increment must be spent on correcting those conditions which caused the area to be designated a redevelopment district. Allowable uses include property acquisition, demolition, rehabilitation, installation of public utilities, road, sidewalks, public parking facilities, and allowable administrative expenses. Obligations: There is currently one PAYGO Note in this district as follows:  $996,000 at 7.5% interest. This Note was issued on January 20, 2006 to Wolf Lake/Belt Line Industrial Park. The EDA has pledged 95% of tax increment revenues from this District and it is anticipated that the Note will be repaid by February 1, 2020. Other Development Agreement Compliance: 1. Minimum Assessment Agreement. The minimum market value as of January 2, 2005 shall be $9,500,000. The Assessment Agreement shall be in place until the TIF Note is paid in full or the TIF District terminates, whichever is sooner. 2. Repayment of Assistance. If the property is transferred within 5 years of issuance of the Certificate of Occupancy, an analysis of repayment of a portion of the assistance is to be completed. If the property does not transfer ownership in this timeframe, then no look back is required. The property ownership was never transferred in the 5-year period. 3. Authority’s Option to Cure Default on Mortgage. Developer must provide City with any notice of default it receives from its mortgage holder and the City has the right, but not the obligation to cure any default on behalf of the developer. Three Year Rule: The three-year rule states that, within three years from certification date, bonds much be issued, the authority has acquired land or has caused public improvements to be constructed in the district. The Wolfe Lake district met the requirement when the City approved the Development Agreement with Belt Line Industrial Park, Inc. Four Year Rule: MN Statute 469.176 subd. 6 requires that, within four years from certification date, certain activities must have taken place on each parcel with the TIF district. Required activities include demolition, rehabilitation, renovation and site improvements. The Wolfe Lake four-year deadline was April 2008 and was met because qualifying activities happened prior to this date. This district did not fall within the certification dates for extension of the four-year rule.Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 68 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 68 Five Year Rule: At least 75% of tax increment revenues generated within the Wolfe Lake district must be used to pay for qualified costs within the district. The State Legislature amended the five-year rule limit to increase it to ten years for Redevelopment or Renewal and Renovation districts certified after June 30, 2003 and before April 20, 2009. The Wolfe Lake Redevelopment district fits this timeline and its five-year rule was April 26, 2014. Since the EDA has entered into contracts and obligated TIF dollars, the Five-Year rule has been satisfied. Geographic Enlargements: MN Statute 469.175 subd. 4 (f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. The district may not be enlarged after April 2009. Recommendations: 1. Use of Future TIF After Obligation is Repaid. The TIF Note for this District will be paid off on February 1, 2020. Currently there is approximately cash balance $47,758 in the District for use on redevelopment projects, which represents the actual cash balance at September 30, 2019 after the obligations were paid. It is estimated that there will be approximately $119,900 available for pooling for qualified redevelopment costs when the obligations are paid in February 2020. We recommend the City/EDA modify the budget of the District before the end of 2019 to allow for an additional 10% pooling for affordable housing. This would allow approximately $572,400 to be used for affordable housing. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 69 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 69 WOLFE LAKE CONTINUED City of St. Louis ParkWolfe lakeORIGINALHSS Geo. EnlargementInterest Income 0.50% 1) Limited Pooling options availableDistrict TypeRedevelopment Admin Expense 3.00% 2) Budget Mod: Not Recommended at this timeProject Area3) Admin. Expense is currently: for year 2019 3.2%At or Under LimitFiscal DisparitiesB ElectionCounty Number1310Frozen RateUTA #1 120.942% 0.000% 0.000%UTA #2 0.000%UTA #3 0.000%Current Year 2019First ReceiptCity Approved Cert Request Certified Legal Term Expected Term Tax Increment Interest Income TOTAL REVENUESProject Intersest Expense BondsAdmin Expense County Admin Outside District Other Expense TOTAL EXPENSEOriginal Budget2006 7/7/2003 12/15/2003 4/26/2004 12/31/2031 12/31/2031‐ ‐ ‐ Cumulative Modified2,594,000 50,000 2,644,000 1,165,000 1,350,000 129,000 2,644,000 2,644,000 End of District Projected Actual Total3,515,554 24,376 3,093,675 ‐ 1,630,947 ‐ 112,847 13,389 ‐ 1,138,967 2,596,155 2,896,151 Under / (Over) Budget(921,554) 25,624 (449,675) 1,165,000 (280,947) ‐ 16,153 (13,389) ‐ (1,138,967) 47,845 (252,151) YearBaseCurrent Fiscal Disparities CapturedTax Increment Interest Income TOTAL REVENUESProjectPaygoBondsAdmin Expense County Admin Outside DistrictIncrement ReturnedTOTAL EXPENSE11 201634,346 191,770 46,716 110,708 128.561% 133,411 181 133,592 ‐ 120,721 ‐ 6,099 704 ‐ ‐ 127,524 89,839 12 201734,346 192,520 51,569 106,605 124.745% 128,466 186 128,652 ‐ 124,392 ‐ 7,121 697 ‐ ‐ 132,210 86,281 13 201834,346 202,420 57,547 110,527 130.191% 133,191 510 133,701 ‐ 117,352 ‐ 5,307 708 ‐ ‐ 123,367 96,615 14 201934,346 215,680 60,161 121,173 125.012% 146,021 483 146,505 ‐ 118,185 ‐ 4,381 704 ‐ ‐ 123,269 119,850 15 202034,346 215,680 60,161 121,173 125.012% 146,021 599 146,621 ‐ 48,449 ‐ 4,381 704 ‐ 94,914 148,447 118,024 16 202134,346 215,680 60,161 121,173 125.012% 146,021 590 146,612 ‐ ‐ 4,381 704 ‐ 94,914 99,999 164,637 17 202234,346 215,680 60,161 121,173 125.012% 146,021 823 146,845 ‐ ‐ 4,381 704 ‐ 94,914 99,999 211,483 18 202334,346 215,680 60,161 121,173 125.012% 146,021 1,057 147,079 ‐ ‐ 4,381 704 ‐ 94,914 99,999 258,563 19 202434,346 215,680 60,161 121,173 125.012% 146,021 1,293 147,314 ‐ ‐ 4,381 704 ‐ 94,914 99,999 305,879 20 202534,346 215,680 60,161 121,173 125.012% 146,021 1,529 147,551 ‐ ‐ 4,381 704 ‐ 94,914 99,999 353,431 21 202634,346 215,680 60,161 121,173 125.012% 146,021 1,767 147,789 ‐ ‐ 4,381 704 ‐ 94,914 99,999 401,221 22 2027 34,346 215,680 60,161 121,173 125.012% 146,021 2,006 148,028 ‐ ‐ 4,381 704 ‐ 94,914 99,999 449,250 23 2028 34,346 215,680 60,161 121,173 125.012% 146,021 2,246 148,268 ‐ ‐ 4,381 704 ‐ 94,914 99,999 497,519 24 2029 34,346 215,680 60,161 121,173 125.012% 146,021 2,488 148,509 ‐ ‐ 4,381 704 ‐ 94,914 99,999 546,030 25 2030 34,346 215,680 60,161 121,173 125.012% 146,021 2,730 148,752 ‐ ‐ 4,381 704 ‐ 94,914 99,999 594,783 26 2031 34,346 215,680 60,161 121,173 125.012% 146,021 2,974 148,995 ‐ ‐ 4,381 704 ‐ 94,914 99,999 643,779 27 2032‐ ‐ ‐ ‐ 0.000%‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 643,779 28 2033‐ ‐ ‐ ‐ 0.000%‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 643,779 DISTRICT INFORMATIONASSUMPTIONSRECOMMENDATIONSTIF YearTAX CAPACITYCurrent Local Tax RateRevenuesExpendituresEnding BalanceCASH FLOW PROJECTIONS ROLL UPTIF PLAN BUDGET ANALYSISDecertifiesRevenuesExpendituresTotal BudgetID Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 70 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 70 WOLFE LAKE CONTINUED City of St. Louis ParkWolfe lakePursuant to M.S. 469.176 Subd. 3:Admin limit is based on: RevenuesRevenuesEst expend 2,515,000 251,500.0 Actual expend 2,483,308 248,330.81 TEST 1:Admin per TIF Plan $129,000Actual TIF 3,515,554 351,555.42 YTEST 2:Estimated TIF Admin Allowable (10%) $259,400Estimated Total TIF Revenues per TIF Plan $2,594,000NTEST 3:Cumulative TIF Admin Allowable (10%) $351,555Pursuant to M.S. 469.1763 Subd. 2:Total TIF Revenues for the Project $3,515,554NDistrict Type: RedevelopmentDoes this section apply? YesRESULTS:Admin per TIF Plan $259,400Certification Request Date: 12/15/2003Actual Admin Expenses $112,847 Does TIF Plan Specify Assisting Housing Outside Project Area? YesAvailable Admin $16,153If so, What is the Additional % Allowed in TIF Plan (Up to 10%):10%Actual Percentage3.2%Total Pooling %:25%TIF Year Year Admin. Expenses Total % Allowable Current Year Cummulative Admin CostsSpent Outside Cumulative25% Pooling for Redevelopment10% Pooling for HousingIncrement GeneratedCosts Authorized Required?Increment returned Net RetainedP&I Due after year end Excess (Not Excess)11 201643,471 1,358,712 3.2%133,411 1,355,618 43,471 295,434 ‐ ‐ 89,839 1,358,712 2,644,000 no00(1,285,288)12 201750,592 1,487,364 3.4%128,466 1,484,084 50,592 320,429 ‐ ‐ 86,281 1,487,364 2,644,000 no00(1,156,636)13 201855,899 1,621,065 3.4%133,191 1,617,275 55,899 348,420 ‐ ‐ 96,615 1,621,065 2,644,000 no00(1,022,935)14 201960,280 1,767,570 3.4%146,021 1,763,297 60,280 380,544 ‐ ‐ 119,850 119,850 ‐ 1,767,570 2,644,000 no00(876,430)15 202064,660 1,914,190 3.4%146,021 1,909,318 64,660 46,622 ‐ ‐ 46,622 ‐ 46,622 1,914,190 2,644,000 no94,91400(729,810)16 202169,041 2,060,802 3.4%146,021 2,055,339 69,041 46,613 ‐ ‐ 46,613 46,613 2,060,802 2,644,000 no189,82800(583,198) 17 202273,422 2,207,647 3.3%146,021 2,201,361 73,422 46,846 ‐ ‐ 46,846 46,846 2,207,647 2,644,000 yes2,112,7330(436,353) 18 202377,802 2,354,725 3.3%146,021 2,347,382 77,802 47,080 ‐ ‐ 47,080 47,080 2,354,725 2,644,000 yes2,259,8120(289,275) 19 202482,183 2,502,040 3.3%146,021 2,493,404 82,183 47,316 ‐ ‐ 47,316 47,316 2,502,040 2,644,000 yes2,407,1260(141,960) 20 202586,564 2,649,591 3.3%146,021 2,639,425 86,564 47,552 ‐ ‐ 47,552 47,552 2,649,591 2,644,000 yes2,554,67705,591 21 202690,944 2,797,379 3.3%146,021 2,785,447 90,944 47,790 ‐ ‐ 47,790 47,790 2,797,379 2,644,000 yes2,702,4650153,379 22 202795,325 2,945,407 3.2%146,021 2,931,468 95,325 48,029 ‐ ‐ 48,029 48,029 2,945,407 2,644,000 yes2,850,4930301,407 23 202899,705 3,093,675 3.2%146,021 3,077,490 99,705 48,269 ‐ ‐ 48,269 48,269 3,093,675 2,644,000 yes2,998,7610449,675 24 2029104,086 3,242,184 3.2%146,021 3,223,511 104,086 48,510 ‐ ‐ 48,510 48,510 3,242,184 2,644,000 yes3,147,2700598,184‐ 25 2030108,467 3,390,935 3.2%146,021 3,369,533 108,467 48,753 ‐ ‐ 48,753 48,753 3,390,935 2,644,000 yes3,296,0210746,935 26 2031112,847 3,539,931 3.2%146,021 3,515,554 112,847 48,997 ‐ ‐ 48,997 48,997 3,539,931 2,644,000 yes3,445,0170895,931 27 2032112,847 3,539,931 3.2%‐ 3,515,554 112,847 ‐ ‐ ‐ ‐ 28 2033112,847 3,539,931 3.2%‐ 3,515,554 112,847 ‐ ‐ EXCESS INCREMENTADMINISTRATIVE EXPENSE CALCULATION POOLING CALCULATION (25% Outside of District)Tax Increment25% for Qualified CostsAvailable for PoolingADMINISTRATIVE EXPENSE TESTAccummulated Totals Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 71 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 71 WOLFE LAKE CONTINUED Maximum amount 996,000.00$ Interest Rate 7.50%Note Issued Date 1/20/2006Final Payment 2/1/2023Total Tax Tax Increment CumulativeIncrement Available at Tax IncrementDateInterest Due Available95.00%PaidNote Balance996,000.00$ 8/1/201615,119.15 66,705.59 63,370.32 1,222,571.60 354,926.28$ 2/1/201713,309.74 66,705.59 63,370.31 1,285,941.91 304,865.70$ 8/1/201711,432.46 64,233.04 61,021.39 1,346,963.30 255,276.78$ 2/1/20189,572.88 64,233.04 61,021.39 1,407,984.69 203,828.27$ 8/1/20187,643.56 66,595.95 56,330.65 1,464,315.34 155,141.18$ 2/1/20195,817.79 66,595.95 56,330.65 1,520,646.00 104,628.32$ 8/1/20193,923.56 73,010.74 61,854.20 1,582,500.20 46,697.68$ 2/1/20201,751.16 73,010.74 48,448.84 1,630,949.04 0.00$ TOTAL634,949.04 1,766,271.17 1,630,949.04 City of St. Louis ParkEconomic Development AuthorityPrincipal Ledger - Belt Line Industrial Park Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 72 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 72 AQUILA COMMONS Description: Aquila Commons (County #1311) is a housing district established on September 7, 2004. Originally the district encompassed one (1) parcel of land and was established to facilitate the construction of a limited equity senior housing co-operative on the former Talmud Torah School. The district currently contains 106 owner-occupied units in the form of a limited equity cooperative, under which 95% of the initial buyers will need to meet TIF income restrictions Adopted………………………..09/07/2004 Requested Date………………12/20/2004 Certified Date………….....… 04/04/2005 First Increment………………… 07/2007 Anticipated Decertification… 12/31/2032 Former and Current PID Numbers: This TIF district originally had one (1) parcel and was replatted into 107 parcels. Fiscal Disparities Election: The City elected to calculate fiscal disparities from inside (B election) the district. Frozen Tax Rate: 114.27100% Former PID # Former UseNew PID #New Use18-117-21-14-0008Aquila Commons Senior Cooperative - Master Parcel18-117-21-14-0167 through 0272Aquila Commons Senior Cooperative18-117-21-14-0008SchoolStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 73 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 73 Allowable Uses: MN Statute 469.176 subd. 4d specifies the activities on which tax increment from a housing district may be spent. In general, tax increment must be spent on housing projects meeting the income guidelines, public improvements directly related to housing projects and administrative expenses. Obligations: There is one PAYGO Note that was issued for this project as follows:  $1,050,000 at 5.75% interest. This Note was issued on May 25, 2006 to Aquila Senior LLC. The EDA has pledged 95% of tax increment revenues from this District and the Note was paid in full on August 1, 2018 Other Development Agreement Compliance: 1. Income restrictions. 95% of the units sold are income restricted pursuant to TIF law. Based upon this, at least 40% of the unit interests (42 units) need to be sold to persons with a household income not exceeding 80% of the median income and adjusted for family size. At least 55% of the unit interests (58 units) need to be sold to persons at or below 100% of the area median income for households of two or less and to persons at or below 115% of the area median income for households of three or more. 2. Assignment of Note. Except for a collateral assignment to a Holder the developer may not transfer or assign its interest in the TIF Note to another party without the written consent of the Authority. 3. Look Back. Within 60 days after closing on initial sale of all units, the developer will provide the City the financial data to calculate the actual rate of return to the developer. If, based on such review, the actual profit for the developer exceeds an 8.00% rate of return, then 50 percent of the profit in excess of 8.00% will be applied as prepayment of the outstanding principal amount of the TIF Note in accordance with the terms of Section 5(b) of the TIF Note. 4. Marketing Covenants. Through the term of the TIF Note, the developer must use its best efforts to market available unit interests in the Cooperative to buyers who reside in the City, to the extent permissible under State and federal fair housing and related laws. 5. Management. Upon completion and through the term of the TIF Note, the City has to approve the property management company. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 74 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 74 Three Year Rule: The three-year rule states that, within three years from certification date, bonds much be issued, the authority has acquired land or has caused public improvements to be constructed in the district. The Aquila Commons District met the requirement when the City approved the Development Agreement with Aquila Senior LLC. Four Year Rule: MN Statute 469.176 subd. 6 requires that, within four years from certification date, certain activities must have taken place on each parcel within the TIF district. Required activities include demolition, rehabilitation, renovation and site improvements. The State Legislature amended the four-year rule to increase it by an additional two years for districts that were certified on or after January 1, 2005 and before April 20, 2009. The Aquila Commons district falls within this timeline and the Four-Year Rule was deadline becomes April 2011. The district met this requirement by April 2009. Five Year Rule: At least 80% of tax increment revenues generated within Aquila Commons Housing must be used to pay for qualified costs within the district. However, pursuant to MN Statute 469.1763 subd. 2 (b), activities for affordable housing projects spent in the project area is considered an activity within the district. Geographic Enlargements: MN Statute 469.175 subd. 4 (f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. The district may not be enlarged after April 2009. Recommendation: 1. Use of Future TIF After Obligation is Repaid. The TIF Note for this District was paid off on August 1, 2018. The City/EDA elected to keep the District open through its termination (December 31, 2032). The existing fund balance and the TIF generated in the future (approximately $210,000 annually) will need to be utilized to pay eligible costs for “housing projects” as defined by MS 469.174, Subd. 11, located anywhere within the City limits. A housing project is a rental or owner-occupied housing development intended for occupancy by low and moderate-income families. The income guidelines are defined in MS 469.1761 as follows: Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 75 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 75 Rental Housing: 20% of the units occupied by families at 50% of median income (20/50) or 40% of the units occupied by families at 60% of median income (40/60). Owner Occupied: Assistance to homeowners with an income at or below 100% of the median income for a family of two or less or 115% of the median income for a family of three or more. Typically, TIF is utilized for capital expenditures, but may be used for non-capital expenditures on a limited basis. Examples of potential rental housing projects would include:  New affordable rental housing as part of redevelopment (20/50 or 40/60 election)  Renovation of an existing rental housing development (20/50 or 40/60 election)  Providing subsidy to an existing project that is earmarked for additional affordability (20/50 or 40/60 election) Examples of potential owner-occupied projects would include:  Site acquisition and demolition for infill lots that will be sold for new housing construction  Acquisition of foreclosed homes for resale to income qualified buyers  Rehabilitation loans for home improvements (including HIA owners)  Second mortgages to qualified home buyers Due to the on-going need to fund the City’s single-family, owner-occupied housing rehab program (to income qualified residents), the current policy around inclusionary housing and the EDA’s/Council’s expressed desire to retain naturally occurring affordable housing (NOAH), we recommend that the EDA/City keep this District open (just like they did with Park Center) and utilize the funds for affordable housing projects within the City. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 76 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 76 AQUILA COMMONS CONTINUED City of St. Louis ParkAquila CommonsORIGINALHSS Geo. EnlargementInterest Income 0.50% 1) Limited Pooling options availableDistrict TypeHousing Admin Expense 3.00% 2) Budget Mod: Not Recommended at this timeProject Area3) Admin. Expense is currently: for year 2019 3.4%At or Under LimitFiscal DisparitiesB ElectionCounty Number1311Frozen RateUTA #1 114.271% 0.000% 0.000%UTA #2 0.000%UTA #3 0.000%Current Year 2019First ReceiptCity Approved Cert Request Certified Legal Term Expected Term Tax Increment Interest Income TOTAL REVENUESProject Interest ExpenseAdmin Expense County Admin Outside DistrictIncrement ReturnedTOTAL EXPENSEOriginal Budget2007 9/7/2004 12/20/2004 4/4/2005 12/31/2032 12/31/2032‐ ‐ ‐ Cumulative Modified7,271,716 7,271,716 5,750,000 794,544 727,712 7,272,256 7,272,256 End of District Projected Actual Total4,733,274 2,343 3,894,254 ‐ 1,551,143 147,486 21,865 ‐ 346 1,691,251 1,720,840 Under / (Over) Budget2,538,442 (2,343) 3,377,462 5,750,000 (756,599) 580,226 (21,865) ‐ (346) 5,581,005 5,551,416 Year Base Current Fiscal Disparities Captured Tax Increment Interest Income TOTAL REVENUESProject PaygoAdmin Expense County Admin Outside DistrictIncrement ReturnedTOTAL EXPENSE11 2017 16,906 176,487 ‐ 159,581 124.745% 181,535 145 181,680 ‐ 165,416 5,796 1,110 ‐ ‐ 172,322 109,855 12 201816,906 187,379 ‐ 170,473 130.191% 194,003 1,009 195,012 ‐ 124,226 5,935 1,139 ‐ ‐ 131,300 173,566 13 201916,906 201,643 ‐ 184,737 125.012% 210,341 210,341 6,310 1,087 ‐ ‐ 7,397 376,510 14 202016,906 201,643 ‐ 184,737 125.012% 210,341 210,341 ‐ 6,310 1,087 ‐ ‐ 7,397 579,454 15 202116,906 201,643 ‐ 184,737 125.012% 210,341 210,341 ‐ 6,310 1,087 ‐ ‐ 7,397 782,397 16 202216,906 201,643 ‐ 184,737 125.012% 210,341 210,341 ‐ 6,310 1,087 ‐ ‐ 7,397 985,341 17 202316,906 201,643 ‐ 184,737 125.012% 210,341 210,341 ‐ 6,310 1,087 ‐ ‐ 7,397 1,188,285 18 202416,906 201,643 ‐ 184,737 125.012% 210,341 210,341 ‐ ‐ 6,310 1,087 ‐ ‐ 7,397 1,391,228 19 202516,906 201,643 ‐ 184,737 125.012% 210,341 210,341 ‐ ‐ 6,310 1,087 ‐ ‐ 7,397 1,594,172 20 202616,906 201,643 ‐ 184,737 125.012% 210,341 210,341 ‐ ‐ 6,310 1,087 ‐ ‐ 7,397 1,797,115 21 202716,906 201,643 ‐ 184,737 125.012% 210,341 210,341 ‐ ‐ 6,310 1,087 ‐ ‐ 7,397 2,000,059 22 202816,906 201,643 ‐ 184,737 125.012% 210,341 210,341 ‐ ‐ 6,310 1,087 ‐ ‐ 7,397 2,203,003 23 202916,906 201,643 ‐ 184,737 125.012% 210,341 210,341 ‐ ‐ 6,310 1,087 ‐ ‐ 7,397 2,405,946 24 2030 16,906 201,643 ‐ 184,737 125.012% 210,341 210,341 ‐ ‐ 6,310 1,087 ‐ ‐ 7,397 2,608,890 25 203116,906 201,643 ‐ 184,737 125.012% 210,341 210,341 ‐ ‐ 6,310 1,087 ‐ ‐ 7,397 2,811,834 26 203216,906 201,643 ‐ 184,737 125.012% 210,341 210,341 ‐ ‐ 6,310 1,087 ‐ ‐ 7,397 3,014,777 27 2033‐ ‐ ‐ ‐ 0.000%‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 3,014,777 DISTRICT INFORMATIONASSUMPTIONSRECOMMENDATIONSTIF YearTAX CAPACITYCurrent Local Tax RateRevenuesExpendituresEnding BalanceCASH FLOW PROJECTIONS ROLL UPTIF PLAN BUDGET ANALYSISDecertifiesRevenuesExpendituresTotal BudgetID Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 77 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 77 AQUILA COMMONS CONTINUED City of St. Louis ParkAquila CommonsPursuant to M.S. 469.176 Subd. 3:Admin limit is based on: RevenuesRevenuesEst expend 6,544,544 654,454.4 Actual expend 1,543,765 154,376.47 TEST 1:Admin per TIF Plan $727,712Actual TIF 4,733,274 473,327.40 NTEST 2:Estimated TIF Admin Allowable (10%) $727,172Estimated Total TIF Revenues per TIF Plan$7,271,716NTEST 3:Cumulative TIF Admin Allowable (10%) $473,327Pursuant to M.S. 469.1763 Subd. 2:Total TIF Revenues for the Project$4,733,274YDistrict Type:HousingDoes this section apply?YesRESULTS:Cumulative TIF Admin Allowable (10%) $473,327Certification Request Date: 12/20/2004Actual Admin Expenses $147,486 Does TIF Plan Specify Assisting Housing Outside Project Area? NoAvailable Admin $325,841If so, What is the Additional % Allowed in TIF Plan (Up to 10%): 0%Actual Percentage3.1%Total Pooling %:100%TIF Year Year Admin. Expenses Total % Allowable Current Year Cummulative Admin CostsSpent Outside CumulativeIncrement GeneratedCosts Authorized Required?Increment returned Net RetainedP&I Due after year end Excess (Not Excess)11 2017 53,208 1,595,833 3.3% 181,535 1,594,499 53,208 1,541,291 ‐ ‐ 109,855 1,595,833 7,272,256 no 0 0(5,676,423)12 2018 59,143 1,790,845 3.3% 194,003 1,788,502 59,143 1,729,359 ‐ ‐ 173,566 1,790,845 7,272,256 no 0 0(5,481,411)13 2019 65,453 2,001,186 3.3% 210,341 1,998,843 65,453 1,933,390 ‐ ‐ 376,510 2,001,186 7,272,256 no 0 0(5,271,070)14 2020 71,763 2,211,527 3.2% 210,341 2,209,184 71,763 2,137,420 ‐ ‐ 579,454 2,211,527 7,272,256 no 0 0(5,060,729)15 2021 78,074 2,421,868 3.2% 210,341 2,419,525 78,074 2,341,451 ‐ ‐ 782,397 2,421,868 7,272,256 no 0 0(4,850,388)16202284,384 2,632,208 3.2%210,341 2,629,865 84,384 2,545,482 ‐ ‐ 985,341 2,632,208 7,272,256 no00(4,640,048)17 202390,694 2,842,549 3.2%210,341 2,840,206 90,694 2,749,512 ‐ ‐ 1,188,285 2,842,549 7,272,256 no00(4,429,707)18 202497,004 3,052,890 3.2%210,341 3,050,547 97,004 2,953,543 ‐ ‐ 1,391,228 3,052,890 7,272,256 no00(4,219,366)19 2025103,315 3,263,231 3.2%210,341 3,260,888 103,315 3,157,573 ‐ ‐ 1,594,172 3,263,231 7,272,256 no00(4,009,025)20 2026109,625 3,473,572 3.2%210,341 3,471,229 109,625 3,361,604 ‐ ‐ 1,797,115 3,473,572 7,272,256 no00(3,798,684)21 2027115,935 3,683,913 3.1%210,341 3,681,570 115,935 3,565,635 ‐ ‐ 2,000,059 3,683,913 7,272,256 no00(3,588,343)22 2028122,245 3,894,254 3.1%210,341 3,891,911 122,245 3,769,665 ‐ ‐ 2,203,003 3,894,254 7,272,256 no00(3,378,002)23 2029128,555 4,104,594 3.1%210,341 4,102,251 128,555 3,973,696 ‐ ‐ 2,405,946 4,104,594 7,272,256 no00(3,167,662)24 2030134,866 4,314,935 3.1%210,341 4,312,592 134,866 4,177,727 ‐ ‐ 2,608,890 4,314,935 7,272,256 no00(2,957,321)25 2031141,176 4,525,276 3.1%210,341 4,522,933 141,176 4,381,757 ‐ ‐ 2,811,834 4,525,276 7,272,256 no00(2,746,980)26 2032147,486 4,735,617 3.1%210,341 4,733,274 147,486 4,585,788 ‐ 3,014,777 4,735,617 7,272,256 no00(2,536,639)27 2033147,486 4,735,617 3.1%‐ 4,733,274 147,486 4,585,788 ‐ 3,014,777 4,735,617 7,272,256 no00(2,536,639)EXCESS INCREMENTADMINISTRATIVE EXPENSE CALCULATIONPOOLING CALCULATION (100% Outside of District)Tax Increment100% for Qualified CostsAvailable for PoolingADMINISTRATIVE EXPENSE TESTAccummulated Totals Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 78 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 78 ELMWOOD VILLAGE Description: Elmwood Village (County #1312) is a renewal and renovation district established on August 2, 2004. Originally the district encompassed seventeen (17) parcels of land and was established to facilitate the construction of various public improvements related to the construction of housing and commercial facilities (a portion of this district is derived from parcels decertified from the Trunk Highway 7 TIF District). The District was initially established to assist Rottlund Homes with additional site improvements and land acquisition costs associated with a condominium/townhome project on the old Quadian site. Rottlund was issued a PAYGO note in the amount of $790,000 at 5.75% interest. The note was paid off on February 1, 2010 and the TIF generated from these parcels can be utilized by the City for other qualified TIF costs. On February 21, 2006 this district was modified to add eight additional parcels. The parcels were part of the Hoigaards redevelopment project which consists of a 220-unit market rate apartment building, 100-unit senior independent apartment building, 22 rental townhomes, a mixed-use residential development consisting of 74 condos (temporarily turned rental) over 25,000 square feet retail and a regional storm pond. The City issued short-term taxable tax increment revenue notes to finance costs for the mixed-use building and the market rate apartment building. The first note was issued in 2006 in the amount of $1,663,000 and the second note was issued in 2007 in the amount of $2,540,000. On October 21, 2010, the EDA issued long-term tax-exempt tax increment revenue bonds to refinance the short-term notes in the amount of $3,495,000 (the A bonds). These revenue bonds are paid from tax increment generated from the Camarata Apartments (220 units) and the Harmony Vista condos/Apartments and retail. Since these are revenue Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 79 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 79 bonds, the EDA does not carry any legal liability to make payments on the bonds if the tax increment generated is insufficient to do so. The bonds were sized with 125% debt service coverage and a debt service reserve fund in the amount of $165,875 was funded with bond proceeds. In addition, the EDA issued a subordinated TIF note in the amount of $935,000 to Northern Holding II, LLC on the same date. This note is paid from increment generated from the Camarata Apartments and Harmony Vista Condos/Apartments and retail on a subordinate basis to the A note (paid from available increment not needed to pay debt service on the A bonds). In 2009, Greco Development purchased a parcel of land from Rottlund for redevelopment into a vertical mixed-use development consisting of 115 units of senior housing over approximately 10,000 sq/ft of retail. On June 7, 2010, the EDA approved a development agreement with Wooddale Catered Living LLC to provide them a PAYGO note in the amount of $490,000. The project is complete and the TIF Note was issued on August 1, 2013. This note was issued for $490,000 and is payable through 95% of increment related to the project. Construction of the last two phases began in 2012. In early 2013, both the Adagio (100-unit senior apartment) and the Medley Row rental townhomes (26-units) were completed. TIF Notes were issued for these projects in 2013 for $1,020,000 ($820,000 for Adagio and $200,000 for Medley Row). Due to the reallocation of the market value homestead credit to market value homestead exclusion in 2011, the tax capacities dropped for the pay 2012 taxes on the Rottlund town homes, thus reducing the amount of TIF generated for use by the EDA. During 2018, $2,530,000 was pooled from this District for the Wooddale Bridge project. It is anticipated that an additional $4.3 million will be used for this project in 2022. Further, the projections anticipate an additional $2.7M that could be pooled for projects in the future. Adopted:…………………….….08/02/2004 Requested Date:…….………. 12/20/2004 Certified Date:………….……...05/31/2005 First Increment……………….… 07/2007 Anticipated Decertification……12/31/2029 Modifications:…………………. 02/21/2006 10/19/2009 Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 80 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 80 Special Legislation: In 2009 the City received special legislation to extend the term of the district by 6 years. The duration of the district is now 22 years, versus the original 16 years (Laws of 2009, Chapter 88, Article 5, Section 19). The reason for the extension was to utilize the additional TIF revenue generated to complete improvements to Highway 7 and Wooddale Avenue bridge as well as the Wooddale and 36th Street intersection (see language on page below): Sec. 19. CITY OF ST. LOUIS PARK; EXTENSION OF TAX INCREMENT DISTRICT DURATION. Notwithstanding Minnesota Statutes, section 469.176, subdivision 1b, the duration of the Elmwood Village Tax Increment Financing District is extended to 22 years after receipt by the St. Louis Park Economic Development Authority of the first increment from the district. In 2016, the City obtained special legislation to increase the pooling percentage from 20% to 30%. (Laws of 2017, 1st Special Session 1, Article 6, Section 21) Sec. 21 CITY OF ST. LOUIS PARK; ELMWOOD VILLAGE TIF DISTRICT; POOLING PERCENTAGE INCREASE. For purposes of the Elmwood Village Tax Increment Financing District in the city of St. Louis Park, including the duration extension authorized by Laws 2009, chapter 88, article 5, section 19, the permitted percentage of increments that may be expended on activities outside the district under Minnesota Statutes, section 469.1763, subdivision 2, is increased to 30 percent for the district. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 81 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 81 Former and Current PID Numbers: Former PID # New PID #New Use06-028-24-32-002006-028-24-32-0024 and 16-117-21-34-0355Detention Pond (24) and Commercial component of Harmony Vista (including triangular parking parcel)16-117-21-31-006516-117-21-31-0077Medly Row Town Homes (yet to be built)16-117-21-31-006606-028-24-32-0023Camerata Apartments16-117-21-34-001816-117-21-34-0340Adagio Condos (yet to be built)16-117-21-34-007516-117-21-34-003516-117-21-34-0017Same as Former PIDExisting Bldg - No Redev16-117-21-34-0015Same as Former PIDExisting Bldg - No Redev16-117-21-34-002716-117-21-34-000116-117-21-33-010416-117-21-33-0107 through 16-117-21-33-0196; & 16-117-21-34-0146 through 16-117-21-34-0194Senior (55+) Condos16-117-21-34-009516-117-21-34-0218 through 16-117-21-34-0339 Village Lofts-Condos16-117-21-34-009616-117-21-34-0100 through 16-117-21-34-0119 Elmwood Village-Condos16-117-21-34-009716-117-21-34-0120 through 16-117-21-34-0137 Elmwood Village-Condos16-117-21-34-009816-117-21-34-0195 through 16-117-21-34-0217 Elmwood Village-Condos16-117-21-33-010516-117-21-33-0197 through 16-117-21-33-0212 Elmwood Village-Condos16-117-21-33-0106Same as Former PIDLuther Car Dealership16-117-21-34-0099Same as Former PIDCommon Area (Condos/TH)16-117-21-31-0071Same as Former PIDExisting Building - Industrial (EDA Owned)16-117-21-32-0057Same as Former PIDExisting Building - Office16-117-21-33-0089Same as Former PIDEDA Owned Vacant Land16-117-21-33-0091Same as Former PIDEDA Owned Parking16-117-21-33-0092Same as Former PIDEDA Owned Vacant Land16-117-21-33-0094Same as Former PIDEDA Owned Vacant Land16-117-21-34-003421-117-21-21-005316-117-21-34-0603Center Park16-117-21-34-0355 and 16-117-21-34-0356 thru 16-117-21-34-0604Harmony Vista Condos (includes garage stalls and hallways)16-117-21-34-0607Woodale Catered Living Apts Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 82 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 82 Fiscal Disparities Election: The City elected to calculate fiscal disparities from inside (B election) the district. Frozen Tax Rate: 114.2710% Allowable Uses: MN Statute 469.176 subd. 4j specifies the activities on which tax increment from a renewal and renovation district may be spent. In general, tax increment must be spent on correcting those conditions which caused the area to be designated a redevelopment district. Allowable uses include property acquisition, demolition, rehabilitation, installation of public utilities, road, sidewalks, public parking facilities, and allowable administrative expenses. In addition, pursuant to the TIF plan the dollars can be utilized for improvements of a grade separated crossing for Wooddale Avenue at Highway 100. Obligations: There are four (4) Tax Exempt TIF Revenue Bonds, one (1) PAYGO Note and one (1) Interfund Loan that were issued for the projects within this district as follows:  $3,495,000 Tax Exempt TIF Revenue Bond, Series 2010A. This Bond was issued on October 21, 2010 and sold to third party investors. The EDA has pledged 95% of the tax increment revenues from the project. This Bond will be paid in full on February 1, 2023.  $935,000 Tax Exempt TIF Revenue Bond, Series 2010B. This Bond was issued on October 21, 2010 and was privately placed. This Bond is subordinated to the 2010A bonds and is paid from 95% of the tax increment revenues from the project. This Bond were repaid in full on February 1, 2018.  $490,000 TIF Note at 6.5% interest. This Note was issued to Wooddale Catered Living on August 1, 2013. The EDA has pledged 95% of the tax increment revenues from the project. This Note was paid in full by February 1, 2017.  $3,298,200 Interfund Loan for site improvements. The EDA approved an interfund loan on December 20, 2010 for public improvements associated with the District and will be repaid from 100% of the TIF generated from the extension of the District. The IFL was for up to $5 million in expenditures. Originally, the City, advanced $3,298,200 of the loan based upon the 5-year rule date of May 31, 2015. Subsequent to the 2017 Special Legislation, the City increased the amount authorized under the interfund loan to $7 million on resolution Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 83 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 83 17-22. At year-end 2018, the balance of the interfund loan was $2,899,447. The 2018 pooled expenditures for the Wooddale Bridge project did not increase the balance of the loan. It is anticipated that additional pooling expenditures in 2022 should increase the balance of the interfund loan by approximately $3,701,800. Any additional amounts would increase the principal amount of the loan over the amount authorized.  $820,000 Tax Exempt TIF Revenue Note of 2013A. This bond was issued on July 29, 2013 and is payable at 4.0% to Webster LLC for the Adagio Senior Apartments. This Note was be paid in full on August 1, 2019.  $200,000 Tax Exempt TIF Revenue Note of 2013B. This bond was issued on July 29, 2013 and is payable at 4.00% to Medley Row Town Homes. This Note was be paid in full by August 1, 2019. Other Development Agreement Compliance: ROTTLUND 1. Look Back. Within 60 days after closing to third parties of the final unit a look back would be completed. If, based on such review, the actual profit for the Developer exceeds a 12% rate of return, then 50 percent of excess amount of profit was to be applied as prepayment of the outstanding principal amount of the Note. The look back was completed in 2008 and the developer‘s expected rate of return was below the 12% threshold so there was no excess profit to prepay the TIF note. HOIGAARD VILLAGE 1. Association and Apartment Covenants. The City shall be entitled to review and approve the articles, bylaws and declaration of restrictive covenants for the condominium association and sub-associations 2. Special Service District. Upon written request by the City, the developer will submit required petition to establish a special service district encompassing the redevelopment property and any other property identified by the City, and to levy a special service charge. 3. Look Back. Within 60 days after closing to third parties of the final unit a look back would be completed for each Stage of the project, excluding Stage IV). If, based on such review, the actual profit for the Developer exceeds the rate of return specified for each Stage, then 50 percent of excess amount of profit was to be applied as prepayment of the outstanding principal amount of the Note. The look back was completed in 2008 and the developer‘s expected rate of return was below the 12% threshold so there was no excess profit to prepay the TIF note. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 84 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 84 WOODDALE CATERED LIVING LLC. 1. Termination of right to Note. All conditions for delivery of the Note must be met by no later than March 31, 2012, which date is less than ten (10) years after the date of certification of the TIF District by the County and complies with the so-called five-year rule under Section 469.1763, subd. 3(c) of the TIF Act, as amended during the 2009 State legislative session. 2. Minimum Assessment Agreement. The minimum market value as of January 2, 2012 shall be $6,825,000 and the minimum market value as of January 2, 2013 shall be $13,650,000. The Assessment Agreement shall be in place until the TIF Note is paid in full or the TIF District terminates, whichever is sooner. 3. Look Back. Within 60 days after the earliest of (i) stabilization (95% of the rental units are leased); (2) sale of property or; (3) three years after the issuance of the CO, the developer will provide the City the financial data to calculate the actual rate of return to the developer. If, based on such review, the actual profit for the developer exceeds a 20% internal rate of return (IRR), then 50% of the excess percentage of the profit will be applied as prepayment of the outstanding principal amount of the TIF Note. The look back was completed in 2013 and the developer‘s expected IRR was below the 20% threshold so there was no excess profit to prepay the TIF note. 4. Management. The Developer shall at all times engage a property management company with substantial experience in operating mixed-use developments, subject to approval by the Authority, which approval will not be unreasonably withheld. The Developer will annually submit evidence of such management by February 1 of each year. 5. Plaza. The Developer shall construct an outdoor Plaza as depicted in the Site Plan. 6. Special Service District. Upon written request by the City, the developer will submit required petition to renew any levy of special service charges for Special Service District No. 6. By no later than December 31, 2011, the developer shall submit to the City for review and approval a plan for maintenance and operation of all pedestrian and landscaping improvements located within the redevelopment property Three Year Rule: The three-year rule states that, within three years from certification date, bonds much be issued, the authority has acquired land or has caused public improvements to be constructed in the district. The Elmwood District met the requirement when the City approved the Development Agreement with Union Land II LLC in March 2006. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 85 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 85 Four Year Rule: MN Statute 469.176 subd. 6 requires that, within four years from certification date, certain activities must have taken place on each parcel within the TIF district. Required activities include demolition, rehabilitation, renovation and site improvements. The State Legislature amended the four-year rule limit to increase it to six years for districts certified after January 1, 2005 and before April 20, 2009. The Elmwood Renewal and Renovation district fits this timeline and its four-year rule was May 2011. The City reported on the four-year activity in November 2009 and reported to the County that two parcels did not meet the deadline for qualifying activity. They were 16-117-21-34-0034 (Center Park) and 16-117-21-21-0053 (Center Park). Parcel 16-117-21-34-0034 was reinstated to the district for payable 2011. Parcel 16-117-21-21-0053 has not been reinstated but is not necessary since it will remain a tax-exempt use. Five Year Rule: At least 80% of tax increment revenues generated within Elmwood Village must be used to pay for qualified costs within the district. The State Legislature amended the five-year rule limit to increase it to ten years for Redevelopment or Renewal and Renovation districts certified after June 30, 2003 and before April 20, 2009. The Elmwood Village Renewal and Renovation district fits this timeline and the five-year rule was May 31, 2015 for the original area and February 21, 2016 for the modified area (Hoigaards redevelopment area). The five-year rule was met for the original area since the EDA has entered into contracts and obligated TIF dollars prior to that time. Geographic Enlargements: MN Statute 469.175 subd. 4 (f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. The district may not be enlarged after May 2010. Recommendation: 1. Pooling Analysis and Use of Funds. During 2018, $2,532,200 was used for the Wooddale Bridge project. It is estimated that there will be a total of $6.8M pooling for qualified redevelopment costs when the District decertifies in 2029. It is anticipated that $4.289M will be used for W 36th Street and Wooddale Avenue reconstruction in 2022. This will leave an approximate pooling balance of $2.7M. We would recommend the City/EDA create a plan for its use. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 86 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 86 ELMWOOD VILLAGE CONTINUED City of St. Louis ParkElmwood VillageORIGINALHSS Geo. EnlargementInterest Income 0.50% 1) Limited Pooling options availableDistrict TypeRenewal and RenovationAdmin Expense2) Budget Mod: Not Recommended at this timeProject Area3) Admin. Expense is currently:for year 2019Fiscal DisparitiesB ElectionCounty Number1312Frozen RateUTA #1 114.271% 0.000% 0.000%UTA #2 0.000%UTA #3 0.000%Current Year 2019First ReceiptCity Approved Cert Request Certified Legal Term Expected Term Tax IncrementInterest Income Other Revenue TOTAL REVENUESProject Interest ExpenseInterfund LoanAdmin ExpenseOriginal Budget2007 8/2/2004 12/20/2004 5/31/2005 12/31/2029 12/31/2029‐ Cumulative Modified44,100,000 44,100,000 13,590,000 26,100,000 4,410,000 End of District Projected Actual Total37,030,970 563,893 141,230 8,633,000 44,128,612 6,769,007 956,050 566,314 953,930 235,578 8,836,865 4,653,075 1,111,894 1,946,348 423,651 Under / (Over) Budget7,069,030 (563,893) (141,230) (8,633,000) (28,612) 6,820,993 25,143,950 (566,314) (953,930) (235,578) (8,836,865) (4,653,075) (1,111,894) (1,946,348) 3,986,349 Year Base Current Fiscal Disparities CapturedTax IncrementOther Revenue Interest Income Bond ProceedsTOTAL REVENUESProject Rottlund Grecco Adagio Medey Row Refunded Bonds 2010A 2010B Interfund LoanAdmin Expense13 2016 168,836 1,704,659 11,358 1,524,465 128.561% 1,735,088 ‐ 1,735,088 140,589 251,915 207,080 39,397 ‐ 346,362 260,169 97,697 9,533 14 2017 168,836 1,803,274 12,479 1,621,959 124.745% 1,653,982 4,661 ‐ 1,658,643 21,043 211,650 45,927 ‐ 356,762 272,709 107,228 21,275 15 2018 168,836 1,911,784 17,650 1,725,298 130.191% 1,875,124 18,642 ‐ 1,893,766 ‐ 239,731 54,578 ‐ 365,869 83,852 111,517 8,768 16 2019 168,836 1,958,006 23,776 1,765,394 125.012% 2,010,071 ‐ 2,010,071 ‐ 164,183 66,848 ‐ 367,500 115,978 8,768 17 2020 168,836 1,977,586 24,014 1,784,736 125.012% 2,032,094 ‐ 2,032,094 ‐ ‐ ‐ ‐ 377,625 92,617 8,768 18 2021 168,836 1,997,362 24,254 1,804,272 125.012% 2,054,337 ‐ 2,054,337 ‐ ‐ 381,625 68,322 8,768 19 2022 168,836 2,017,336 24,496 1,824,003 125.012% 2,076,803 ‐ 2,076,803 ‐ ‐ 389,625 43,055 8,768 20 2023 168,836 2,037,509 24,741 1,843,931 125.012% 2,099,493 ‐ 2,099,493 ‐ ‐ 328,000 164,849 8,768 21 2024168,836 2,057,884 24,989 1,864,059 125.012% 2,122,411 ‐ 2,122,411 ‐ ‐ ‐ 143,443 8,768 22 2025168,836 2,078,463 25,239 1,884,388 125.012% 2,145,557 ‐ 2,145,557 ‐ ‐ ‐ 121,180 8,768 23 2026168,836 2,099,247 25,491 1,904,920 125.012% 2,168,935 ‐ 2,168,935 ‐ ‐ ‐ 98,028 ‐ 24 2027168,836 2,120,240 25,746 1,925,658 125.012% 2,192,547 ‐ 2,192,547 ‐ ‐ ‐ 73,949 ‐ 25 2028168,836 2,141,442 26,003 1,946,603 125.012% 2,216,395 ‐ 2,216,395 ‐ ‐ ‐ 48,907 ‐ 26 2029168,836 2,162,857 26,263 1,967,757 125.012% 2,240,481 ‐ 2,240,481 ‐ ‐ ‐ 22,863 ‐ 27 2030‐ ‐ ‐ ‐ 0.000%‐ ‐ ‐ ‐ ‐ ‐ ‐ 28 2031‐ ‐ ‐ ‐ 0.000%‐ ‐ ‐ ‐ ‐ ‐ ‐ 29 2032‐ ‐ ‐ ‐ 0.000%‐ ‐ ‐ ‐ ‐ ‐ ‐ 30 2033‐ ‐ ‐ ‐ 0.000%‐ ‐ ‐ ‐ ‐ ‐ ‐ TIF PLAN BUDGET ANALYSISDecertifiesRevenuesExpenditures DISTRICT INFORMATIONASSUMPTIONSRECOMMENDATIONSBondsPaygoCASH FLOW PROJECTIONS ROLL UPTIF YearTAX CAPACITYCurrent Local Tax RateRevenuesExpendituresID Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 87 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 87 ELMWOOD VILLAGE CONTINUED City of St. Louis ParkElmwood VillagePursuant to M.S. 469.176 Subd. 3:Admin limit is based on: RevenuesRevenuesEst expend 39,690,000 3,969,000.0 Actual expend 32,890,591 3,289,059.08 TEST 1:Admin per TIF Plan $4,410,000Actual TIF 37,030,970 3,703,096.97 NTEST 2:Estimated TIF Admin Allowable (10%) $4,410,000Estimated Total TIF Revenues per TIF Plan$44,100,000NTEST 3:Cumulative TIF Admin Allowable (10%)$3,703,097Pursuant to M.S. 469.1763 Subd. 2:Total TIF Revenues for the Project$37,030,970YDistrict Type:Renewal and RenovationDoes this section apply?YesRESULTS:Cumulative TIF Admin Allowable (10%) $3,703,097Certification Request Date:12/20/2004Actual Admin Expenses$423,651 Does TIF Plan Specify Assisting Housing Outside Project Area?NoAvailable Admin$3,279,446If so, What is the Additional % Allowed in TIF Plan (Up to 10%):0%Actual Percentage1.1%Total Pooling %:20%Special Legislation Pooling %30%TIF Year Year Admin. Expenses Total % Allowable Current Year Cummulative Admin CostsCumulativeSpent Outside CumulativeIncrement GeneratedCosts Authorized Required?Increment returned Net RetainedP&I Due after year end Excess (Not Excess)13 2016332,232 10,824,559 3.1%1,735,088 10,142,739 332,232 1,696,316 1,696,316 ‐ ‐ (1,982,711) 10,824,559 44,100,000 no00(33,275,441)14 2017353,507 12,483,202 2.8%1,653,982 11,796,721 353,507 392,221 2,088,537 ‐ ‐ (1,365,648) 12,483,202 44,100,000 no00(31,616,798)15 2018362,275 14,376,968 2.5%1,875,124 13,671,845 362,275 553,769 2,642,306 2,532,188 2,532,188 (2,873,488) 14,376,968 44,100,000 no00(29,723,032)16 2019371,043 16,387,039 2.3%2,010,071 15,681,916 371,043 594,253 3,236,559 ‐ 2,532,188 (1,591,648) 16,387,039 44,100,000 no 0 0(27,712,961)17 2020 379,811 18,419,133 2.1% 2,032,094 17,714,010 379,811 600,860 3,837,419 ‐ 2,532,188 (43,518) 18,419,133 44,100,000 no 0 0(25,680,867)18 2021 388,579 20,473,470 1.9% 2,054,337 19,768,347 388,579 607,533 4,444,952 ‐ 2,532,188 1,547,151 20,473,470 44,100,000 no 0 0(23,626,530)19 2022 397,347 22,550,273 1.8% 2,076,803 21,845,150 397,347 614,273 5,059,225 4,289,000 6,821,188 (1,761,963) 22,550,273 44,100,000 no00(21,549,727)20 2023406,115 24,649,767 1.6%2,099,493 23,944,644 406,115 621,080 5,680,305 ‐ 6,821,188 (1,140,883) 24,649,767 44,100,000 no00(19,450,233)21 2024414,883 26,772,178 1.5%2,122,411 26,067,055 414,883 627,955 6,308,261 ‐ 6,821,188 (512,927) 26,772,178 44,100,000 no 0 0(17,327,822)22 2025 423,651 28,917,735 1.5% 2,145,557 28,212,612 423,651 634,899 6,943,160 ‐ 6,821,188 121,972 28,917,735 44,100,000 no 0 0(15,182,265)23 2026 423,651 31,086,670 1.4% 2,168,935 30,381,547 423,651 650,680.55 7,593,840 ‐ 6,821,188 772,652 31,086,670 44,100,000 no 0 0(13,013,330)24 2027 423,651 33,279,217 1.3% 2,192,547 32,574,094 423,651 657,764.06 8,251,604 ‐ 6,821,188 1,430,416 33,279,217 44,100,000 no 0 0(10,820,783)25 2028 423,651 35,495,612 1.2% 2,216,395 34,790,489 423,651 664,918.41 8,916,523 ‐ 6,821,188 2,095,335 35,495,612 44,100,000 no 0 0(8,604,388)26 2029 423,651 37,736,093 1.1% 2,240,481 37,030,970 423,651 672,144.31 9,588,667 ‐ 6,821,188 2,767,479 37,736,093 44,100,000 yes 37,736,093 0(6,363,907)27 2030 423,651 37,736,093 1.1%‐ 37,030,970 423,651 ‐ 9,588,667 ‐ 6,821,188 2,767,479 37,736,093 44,100,000 yes 37,736,093 0(6,363,907)28 2031 423,651 37,736,093 1.1%‐ 37,030,970 423,651 ‐ 9,588,667 ‐ 6,821,188 2,767,479 37,736,093 44,100,000 yes 37,736,093 0(6,363,907)29 2032 423,651 37,736,093 1.1%‐ 37,030,970 423,651 ‐ 9,588,667 ‐ 6,821,188 2,767,479 37,736,093 44,100,000 yes 37,736,093 0(6,363,907)30 2033423,651 37,736,093 1.1%‐ 37,030,970 423,651 ‐ 9,588,667 ‐ 6,821,188 2,767,479 37,736,093 44,100,000 yes37,736,0930(6,363,907)ADMINISTRATIVE EXPENSE TESTAccummulated TotalsEXCESS INCREMENTADMINISTRATIVE EXPENSE CALCULATION POOLING CALCULATION (20% Outside of District)Tax Increment30% for Qualified CostsAvailable for Pooling20% for Qualified Costs Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 88 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 88 ELMWOOD VILLAGE CONTINUED Maximum amount 820,000$ Interest Rate4.00%Note Issue Date 7/29/2013Final Payment 2/1/2021Total Tax Tax Increment Available CumulativeIncrement Available at TaxPrinciple Unpaid Tax IncrementAvailable 95.00% Increment PaidInterestPaidYear7/29/2013- - - - - - - 820,000.00$ 08/1/2013273.33 - - - - - - 820,273.33$ 02/1/201416,770.03 - - - - - - 837,043.37$ 08/1/201416,833.87 13,093.86 12,439.16 12,439.16 - (3,740.02) 12,439.16 837,043.37$ 0.52/1/201516,740.87 13,093.86 12,439.16 12,439.16 - (3,647.01) 24,878.32 837,043.37$ 18/1/201516,740.87 112,009.41 106,408.93 106,408.93 86,021.06 3,647.01 131,287.26 751,022.31$ 12/1/201615,020.45 112,009.41 106,408.93 106,408.93 87,648.47 3,740.02 237,696.19 663,373.84$ 1.58/1/201615,020.45 119,125.64 113,169.35 100,670.85 85,650.41 338,367.05 577,723.43$ 22/1/201711,554.47 119,125.64 113,169.35 100,670.85 89,116.38 - 439,037.90 488,607.05$ 2.58/1/20179,772.14 129,799.97 123,309.97 110,978.97 101,206.83 - 550,016.87 387,400.21$ 32/1/20187,748.00 129,799.97 123,309.97 117,843.83 110,095.83 - 667,860.71 277,304.39$ 3.58/1/20185,546.09 144,032.43 136,830.81 121,886.73 116,340.64 - 789,747.43 160,963.75$ 42/1/20193,219.27 144,032.43 136,830.81 121,886.73 118,667.45 - 911,634.16 42,296.29$ 4.58/1/2019845.93 144,032.43 139,051.07 139,051.07 42,296.29 - 1,050,685.23 0.00$ 5TOTAL136,085.77 1,123,367.53 837,043.36 0.00 City of St. Louis Park2013A TIF Note - Webster LLC. (Adagio)Date Interest DueNote BalanceStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 89 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 89 ELMWOOD VILLAGE CONTINUED Maximum amount 200,000$ Interest Rate4.00%Note Issue Date 7/29/2013Final Payment 2/1/2023Total Tax Tax Increment Hold Back Available CumulativeIncrement Available at ForTaxPrinciple Tax IncrementAvailable 95.00% Tax Petition Increment PaidPaidYear7/29/2013- - - - - - - 200,000.00$ 08/1/201366.67 - - - - - - 200,066.67$ 02/1/20144,090.25 - - - - - - 204,156.92$ 08/1/20144,105.82 5,954.79 5,657.05 - 5,657.05 1,551.23 5,657.05 202,605.69$ 0.52/1/20154,052.11 5,954.79 5,657.05 - 5,657.05 1,604.94 11,314.10 201,000.75$ 18/1/20154,020.02 18,435.04 17,513.29 - 17,513.29 13,493.27 28,827.39 187,507.48$ 1.52/1/20163,750.15 18,435.04 17,513.29 - 17,513.29 13,763.14 46,340.68 173,744.34$ 28/1/20163,474.89 26,262.86 24,949.72 (3,066.00) 21,883.72 18,408.83 68,224.39 155,335.51$ 2.52/1/20173,106.71 26,262.86 24,949.72 (3,066.00) 21,883.72 18,777.01 90,108.11 136,558.51$ 38/1/20172,731.17 28,121.03 26,714.98 (2,671.50) 24,043.48 21,312.31 114,151.59 115,246.20$ 3.52/1/20182,304.92 28,121.03 26,714.98 3,460.50 30,175.48 27,870.56 144,327.07 87,375.64$ 48/1/20181,747.51 29,212.97 27,752.32 (3,350.20) 24,402.12 22,654.60 168,729.19 64,721.03$ 4.52/1/20191,294.42 29,212.97 27,752.32 (3,350.20) 24,402.12 23,107.70 193,131.31 41,613.34$ 58/1/2019832.27 44,679.60 42,445.61 - 42,445.61 41,613.34 235,576.92 (0.00)$ 5.5TOTAL35,576.91 247,620.32 204,156.92 City of St. Louis Park2013B TIF Note - Medley Row LLCDate Interest DueNote Balance Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 90 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 90 ELMWOOD VILLAGE CONTINUED Maximum amount 5,000,000$ Interest Rate 4.00%Note Issued Date 10/21/2010Final Payment 12/31/2020Total Tax Tax Increment CumulativeIncrement Available at Tax Increment AdditionalAvailable 100.00% Paid Principal3,298,200.00$ 12/31/2011 131,928.00 - 3,430,128.00$ 12/31/2012 131,927.00 - - 3,562,055.00$ 12/31/2013 131,928.00 497,500.00 497,500.00 497,500.00 3,196,483.00$ 12/31/2014 127,859.00 497,500.00 497,500.00 995,000.00 2,826,842.00$ 12/31/2015 113,073.68 497,500.00 497,500.00 1,492,500.00 2,442,415.68$ 12/31/2016 97,696.63 - 1,492,500.00 140,589.00 2,680,701.31$ 12/31/2017 107,228.05 - 1,492,500.00 2,787,929.36$ 12/31/2018 111,517.17 - 1,492,500.00 2,899,446.53$ 12/31/2019 115,977.86 700,000.00 700,000.00 2,192,500.00 - 2,315,424.40$ 12/31/2020 92,616.98 700,000.00 700,000.00 2,892,500.00 - 1,708,041.37$ 12/31/2021 68,321.65 700,000.00 700,000.00 3,592,500.00 - 1,076,363.03$ 12/31/2022 43,054.52 700,000.00 700,000.00 4,292,500.00 3,701,800.00 4,121,217.55$ 12/31/2023 164,848.70 700,000.00 700,000.00 4,992,500.00 3,586,066.25$ 12/31/2024 143,442.65 700,000.00 700,000.00 5,692,500.00 3,029,508.90$ 12/31/2025 121,180.36 700,000.00 700,000.00 6,392,500.00 2,450,689.25$ 12/31/2026 98,027.57 700,000.00 700,000.00 7,092,500.00 1,848,716.82$ 12/31/202773,948.67 700,000.00 700,000.00 7,792,500.00 1,222,665.50$ 12/31/202848,906.62 700,000.00 700,000.00 8,492,500.00 571,572.12$ 12/31/202922,862.88 594,435.00 594,435.00 9,086,935.00 0.00$ TOTAL1,946,346.00 9,086,935.00 9,086,935.00 DateInterest DueNote Balance Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 91 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 91 HIGHWAY 7 CORPORATE CENTER Description: Highway 7 Business Center (redevelopment district) and the Highway 7 Hazardous Substance Subdistrict (County #1313) were established on May 15, 2006. Originally the district encompassed five (5) parcels of land and was established to facilitate the cleanup of contaminated land and the construction of a 78,000 square foot multi-tenant office/showroom/tech building. The City also received environmental grant funds from Hennepin County, the Minnesota Department of Employee and Economic Development and the Metropolitan Council in the amount of $4,950,000, $1,904,456 and $967,000 respectively. A development agreement was signed on June 28, 2006 with the Highway 7 Business Center LLC in which the developer agreed to construct a 78,000 square foot multi-tenant industrial building, including all related parking improvements. Adopted………………….... 05/15/2006 Requested Date……………. 06/29/2006 Certified Date………….….. 07/17/2006 First Increment…………..…. .… 07/2007 Required Decertification…… 12/31/2032 Anticipated Decertification…. 12/31/2028 Before After Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 92 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 92 Former and Current PID Numbers: Former PIDFormer UseNew PIDNew Use17-117-21-44-0002Vacant Land17-117-21-44-0023Multi Tenant17-117-21-44-0024LBF17-117-21-44-0060 Caryn International School17-117-21-44-0065Golden AutoHwy 7 Corporate Center17-117-21-44-006917-117-21-44-0070 Fiscal Disparities Election: The City elected to calculate fiscal disparities from inside (B election) the district. Frozen Tax Rate: 107.2660% Allowable Uses: MN Statute 469.176 subd. 4j specifies the activities on which tax increment from a redevelopment district may be spent. In general, tax increment must be spent on correcting those conditions which caused the area to be designated a redevelopment district. Allowable uses include property acquisition, demolition, rehabilitation, installation of public utilities, road, sidewalks, public parking facilities, and allowable administrative expenses. MN Statute 469.176 subd. 4e specifies the activities on which tax increment from a hazardous substance subdistrict may be spent. In general, tax increment must be spent only on removing hazardous substances from the site, pollution testing and related administrative and legal costs. Obligations: There are four (4) PAYGO notes, totaling $2,555,000 that were issued for this project on July 24, 2008 (Note A and B) and October 6, 2008 (Note C & D) as follows:  $2,100,000 PAYGO Note A for Highway Business center LLC paid at 1% interest.  $360,000 PAYGO Note B for Highway Business Center LLC paid at 1% interest.  $72,000 PAYGO Note C for Highway Business Center LLC paid at 1% interest.  $23,000 PAYGO Note D for Highway Business Center LLC paid at 1% interest. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 93 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 93 These Notes are paid from 95% of the available increment. The available increment is prorated semi-annually with the TIF payments prorated to Notes A and B first before payment is made to Notes C and D 86% being paid to the A Note and 14% being paid to the B Note. It is anticipated that the Notes A and B will be repaid in 2026 and Notes C and D will be repaid in 2027. Other Development Agreement Compliance: 1. Railroad Easement. By December 31, 2006, the Developer agrees to execute and deliver to the City the Railroad Easement Agreement. Under the Easement Agreement, the Developer grants to the City an easement for railroad right of way purposes on a portion of the property. 2. Look Back. (a) Within 60 days before any Transfer of the property (excluding any Transfer to an Affiliate) that occurs within five years after the date of issuance of the Certificate of Completion, the Developer must deliver to the EDA evidence of its annualized cumulative internal rate of return from the property (the “IRR”), calculated as of the date of closing on the transfer. The IRR shall be calculated with equity, revenues and expenses all determined in accordance with generally accepted accounting principles, provided that the amount of Developer’s equity must exclude the principal amount of the Notes, and any developer’s fee in excess of 7.0 percent of total development costs. The amount by which the IRR exceeds 12.0 percent is a percentage referred to as “Excess Percentage.” The Excess Percentage, multiplied by Redeveloper’s equity (as calculated for purposes of determining the IRR), is the “Participation Amount.” The Redeveloper must pay 50 percent of the Participation Amount to the Authority upon closing on the Transfer. If the Developer does not affect a Transfer within the five-year period, the Developer’s obligation under this Section is deemed terminated. The CO was issued on November 21, 2007, which means the 5-year period would expire on November 21, 2012. In June 2012 the City completed the required lookback calculation since the property was going to be sold in July 2012. It was determined that the development did not cash flow as expected and therefore had a negative IRR. There was no reduction in the principal amount of the TIF Notes due to this and the property was sold to Ax Rer LP (Artis Reit). 3. Assessment Agreement. The Developer shall execute a Minimum Assessment Agreement (MAA). The minimum market value shall be $6,300,000 as of January 2, 2008 and each January 2 thereafter, notwithstanding the progress of construction of the Minimum Improvements by such date. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 94 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 94 Four Year Rule: MN Statute 469.176 subd. 6 requires that, within four years from certification date, certain activities must have taken place on each parcel within the TIF district. Required activities include demolition, rehabilitation, renovation and site improvements. The State Legislature amended the four-year rule limit to increase it to six years for districts certified after January 1, 2005 and before April 20, 2009. The Highway 7 Corporate Center Redevelopment district fits this timeline and its four-year rule was July 17, 2012 and was met because qualifying activities happened prior to this date. Five Year Rule: At least 75% of tax increment revenues generated within the district must be used to pay for qualified costs within the district. The State Legislature amended the five-year rule limit to increase it to ten years from the certification date for Redevelopment or Renewal and Renovation districts certified after June 30, 2003 and before April 20, 2009. The Highway 7 Corporate Center Redevelopment district fits this timeline and its five-year rule is now July 17, 2016. Since the EDA has entered into contracts and obligated TIF dollars, the Five-Year rule has been satisfied. Geographic Enlargements: MN Statute 469.175 subd. 4 (f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. The district may not be enlarged after July 2012. Recommendations: None at this time. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 95 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 95 HIGHWAY 7 CORPORATE CENTER CONTINUED City of St. Louis ParkTrunk Hwy 7ORIGINALHSS Geo. EnlargementInterest Income 0.50% 1) Limited Pooling options availableDistrict TypeRedevelopment Admin Expense 2) Budget Mod: Not Recommended at this timeProject Area3) Admin. Expense is currently: for year 2019At or Under LimitFiscal DisparitiesB ElectionCounty Number1313Frozen RateUTA #1 107.266% 0.000% 0.000%UTA #2 0.000%UTA #3 0.000%Current Year 2019First ReceiptCity Approved Cert Request Certified Legal Term Expected Term Tax Increment Interest Income TOTAL REVENUESProjectAdmin Expense County AdminOther ExpenseTOTAL EXPENSEOriginal Budget2007 5/15/2006 6/30/2006 7/17/2006 12/31/2032 12/31/2028‐ ‐ ‐ Cumulative Modified4,181,054 4,181,054 3,135,784 627,165 418,105 4,181,054 4,181,054 End of District Projected Actual Total3,099,275 5,715 3,104,990 26,862 2,294,919 393,422 87,417 27,943 119,969 11,817 43,150 3,005,499 3,005,499 Under / (Over) Budget1,081,779 (5,715) 1,076,064 3,108,922 (1,667,754) (393,422) (87,417) (27,943) 298,136 (11,817) (43,150) 1,175,555 1,175,555 Year Base Current Fiscal Disparities Captured Tax Increment Interest Income TOTAL REVENUESProject Note ANote BNote CNote DAdmin Expense County AdminIncrement ReturnedTOTAL EXPENSE10 2016‐ 187,796 39,851 147,945 128.561% 158,123 158,123 ‐ 110,530 18,948 6,068 738 ‐ 136,284 76,584 11 2017‐ 188,546 44,027 144,519 124.745% 115,413 114 115,527 ‐ 114,330 19,599 4,870 731 ‐ 139,530 52,581 12 2018‐ 172,530 40,754 131,776 130.191% 140,843 99 140,942 ‐ 99,929 17,131 5,284 717 ‐ 123,060 70,462 13 2019‐ 172,530 39,489 133,041 125.012% 142,194 352 142,546 ‐ 114,220 19,581 5,284 738 ‐ 139,822 73,187 14 2020‐ 172,530 39,489 133,041 125.012% 142,194 366 142,560 ‐ 114,220 19,581 5,284 738 ‐ 139,822 75,924 15 2021‐ 172,530 39,489 133,041 125.012% 142,194 380 142,574 ‐ 114,220 19,581 5,284 738 ‐ 139,822 78,676 16 2022‐ 172,530 39,489 133,041 125.012% 142,194 393 142,587 ‐ 114,220 19,581 5,284 738 ‐ 139,822 81,441 17 2023‐ 172,530 39,489 133,041 125.012% 142,194 407 142,601 ‐ 114,220 19,581 5,284 738 ‐ 139,822 84,220 18 2024‐ 172,530 39,489 133,041 125.012% 142,194 421 142,615 ‐ 114,220 19,581 5,284 738 ‐ 139,822 87,013 19 2025‐ 172,530 39,489 133,041 125.012% 142,194 435 142,629 ‐ 114,220 19,581 5,284 738 ‐ 139,822 89,820 20 2026‐ 172,530 39,489 133,041 125.012% 142,194 449 142,643 ‐ 114,220 19,133 425 ‐ 5,284 738 ‐ 139,800 92,663 21 2027‐ 172,530 39,489 133,041 125.012% 142,194 463 142,657 ‐ 91,717 16,177 24,610 ‐ 5,284 738 ‐ 138,527 96,793 22 2028‐ 172,530 39,489 133,041 125.012% 142,194 142,194 ‐ ‐ ‐ 62,381 27,943 5,284 738 43,150 139,496 99,491 23 2029‐ 172,530 39,489 133,041 0.000%‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 99,491 24 2030‐ 172,530 39,489 133,041 0.000%‐ ‐ ‐ ‐ ‐ ‐ 99,491 25 2031‐ 172,530 39,489 133,041 0.000%‐ ‐ ‐ ‐ ‐ ‐ 99,491 26 2032‐ 172,530 39,489 133,041 0.000%‐ ‐ ‐ ‐ ‐ ‐ 99,491 27 2033‐ ‐ ‐ ‐ 0.000%‐ ‐ ‐ ‐ ‐ ‐ ‐ 99,491 DISTRICT INFORMATIONASSUMPTIONSRECOMMENDATIONSTIF YearTAX CAPACITYCurrent Local Tax RateRevenuesExpendituresEnding BalanceCASH FLOW PROJECTIONS ROLL UPTIF PLAN BUDGET ANALYSISDecertifiesRevenuesExpendituresTotal BudgetInterest Expense on PaygoID Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 96 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 96 HIGHWAY 7 CORPORATE CENTER CONTINUED City of St. Louis ParkTrunk Hwy 7Pursuant to M.S. 469.176 Subd. 3:Admin limit is based on: RevenuesRevenuesEst expend 3,762,949 376,294.9 Actual expend 2,885,530 288,553.02 TEST 1:Admin per TIF Plan $418,105Actual TIF 3,099,275 309,927.51 NTEST 2:Estimated TIF Admin Allowable (10%) $418,105Estimated Total TIF Revenues per TIF Plan $4,181,054NTEST 3:Cumulative TIF Admin Allowable (10%) $309,928Pursuant to M.S. 469.1763 Subd. 2:Total TIF Revenues for the Project $3,099,275YDistrict Type: RedevelopmentDoes this section apply? YesRESULTS:Cumulative TIF Admin Allowable (10%)$309,928Certification Request Date:6/30/2006Actual Admin Expenses$119,969 Does TIF Plan Specify Assisting Housing Outside Project Area?NoAvailable Admin$189,959If so, What is the Additional % Allowed in TIF Plan (Up to 10%):0%Actual Percentage3.9%Total Pooling %:25%TIF Year Year Admin. Expenses Total % Allowable Current Year Cummulative Admin CostsSpent Outside CumulativeIncrement GeneratedCosts Authorized Required?Increment returned Net RetainedP&I Due after year end Excess (Not Excess)10 2016 56,975 1,422,914 4.0% 158,123 1,421,079 56,975 298,295 ‐ ‐ 76,584 1,422,914 4,181,054 no 0 0(2,758,140)11 2017 61,845 1,538,441 4.0% 115,413 1,536,492 61,845 322,278 ‐ ‐ 52,581 1,538,441 4,181,054 no 0 0(2,642,613)12 2018 67,129 1,679,383 4.0% 140,843 1,677,335 67,129 352,205 ‐ ‐ 70,462 1,679,383 4,181,054 no 0 0(2,501,671)13 2019 72,413 1,821,929 4.0% 142,194 1,819,529 72,413 382,469 ‐ ‐ 73,187 1,821,929 4,181,054 no 0 0(2,359,125)14 2020 77,697 1,964,489 4.0% 142,194 1,961,723 77,697 412,734 ‐ ‐ 75,924 1,964,489 4,181,054 no 0 0(2,216,565)15202182,981 2,107,063 3.9%142,194 2,103,917 82,981 442,998 ‐ ‐ 78,676 2,107,063 4,181,054 no00(2,073,991)16 202288,265 2,249,650 3.9%142,194 2,246,111 88,265 473,263 ‐ ‐ 81,441 2,249,650 4,181,054 no00(1,931,404)17 202393,549 2,392,252 3.9%142,194 2,388,305 93,549 503,527 ‐ ‐ 84,220 2,392,252 4,181,054 no00(1,788,802)18 202498,833 2,534,867 3.9%142,194 2,530,499 98,833 533,792 ‐ ‐ 87,013 2,534,867 4,181,054 no00(1,646,187)19 2025104,117 2,677,496 3.9%142,194 2,672,693 104,117 564,056 ‐ ‐ 89,820 2,677,496 4,181,054 no00(1,503,558)20 2026109,401 2,820,139 3.9%142,194 2,814,887 109,401 594,321 ‐ ‐ 92,663 2,820,139 4,181,054 no00(1,360,915)21 2027114,685 2,962,796 3.9%142,194 2,957,081 114,685 624,585 ‐ ‐ 96,793 2,962,796 4,181,054 no00(1,218,258)22 2028119,969 3,104,990 3.9%142,194 3,099,275 119,969 654,850 ‐ ‐ 99,491 3,104,990 4,181,054 no00(1,076,064)23 2029119,969 3,104,990 3.9%‐ 3,099,275 119,969 654,850 ‐ ‐ 99,491 3,104,990 4,181,054 no00(1,076,064)24 2030119,969 3,104,990 3.9%‐ 3,099,275 119,969 654,850 ‐ ‐ 99,491 3,104,990 4,181,054 no00(1,076,064)25 2031119,969 3,104,990 3.9%‐ 3,099,275 119,969 654,850 ‐ ‐ 99,491 3,104,990 4,181,054 no00(1,076,064)26 2032119,969 3,104,990 3.9%‐ 3,099,275 119,969 654,850 ‐ ‐ 99,491 3,104,990 4,181,054 no00(1,076,064)27 2033119,969 3,104,990 3.9%‐ 3,099,275 119,969 654,850 ‐ EXCESS INCREMENTADMINISTRATIVE EXPENSE CALCULATION POOLING CALCULATION (25% Outside of District)Tax Increment25% for Qualified CostsAvailable for PoolingADMINISTRATIVE EXPENSE TESTAccummulated Totals Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 97 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 97 HIGHWAY 7 CORPORATE CENTER CONTINUED Note amount 2,100,000.00$ Interest Rate 1.00%Note Issue Date 7/24/2008Final Payment 2/1/2034Total Tax Tax Increment Increment Prorated toDate Interest Due Available Note A Total Payments Note Balance8/1/2016 5,989.11 59,694.10 50,958.39 1,075,187.09 1,152,851.92$ 2/1/2017 5,764.26 69,571.96 59,390.70 1,134,577.79 1,099,225.48$ 8/1/2017 5,496.13 64,357.34 54,939.19 1,189,516.98 1,049,782.42$ 2/1/2018 5,248.91 72,047.04 42,818.77 1,232,335.75 1,012,212.56$ 8/1/2018 5,061.06 66,900.11 57,109.85 1,289,445.60 960,163.78$ 2/1/2019 4,800.82 66,900.11 57,109.85 1,346,555.45 907,854.74$ 8/1/2019 4,539.27 66,900.11 57,109.85 1,403,665.30 855,284.17$ 2/1/2020 4,276.42 66,900.11 57,109.85 1,460,775.15 802,450.74$ 8/1/2020 4,012.25 66,900.11 57,109.85 1,517,885.00 749,353.14$ 2/1/2021 3,746.77 66,900.11 57,109.85 1,574,994.85 695,990.06$ 8/1/2021 3,479.95 66,900.11 57,109.85 1,632,104.70 642,360.16$ 2/1/2022 3,211.80 66,900.11 57,109.85 1,689,214.55 588,462.11$ 8/1/2022 2,942.31 66,900.11 57,109.85 1,746,324.40 534,294.57$ 2/1/2023 2,671.47 66,900.11 57,109.85 1,803,434.25 479,856.19$ 8/1/2023 2,399.28 66,900.11 57,109.85 1,860,544.10 425,145.62$ 2/1/2024 2,125.73 66,900.11 57,109.85 1,917,653.95 370,161.50$ 8/1/20241,850.81 66,900.11 57,109.85 1,974,763.80 314,902.46$ 2/1/20251,574.51 66,900.11 57,109.85 2,031,873.65 259,367.12$ 8/1/20251,296.84 66,900.11 57,109.85 2,088,983.50 203,554.11$ 2/1/20261,017.77 66,900.11 57,109.85 2,146,093.35 147,462.03$ 8/1/2026737.31 66,900.11 57,109.85 2,203,203.20 91,089.49$ 2/1/2027455.45 66,900.11 57,109.85 2,260,313.05 34,435.08$ 8/1/2027172.18 66,900.11 34,607.26 2,294,920.31 0.00$ TOTAL194,920.31 2,747,017.15 2,294,920.31 City of St. Louis ParkEconomic Development AuthorityPrincipal Ledger - Highway 7 Corporate CenterNOTE A - Hwy 7 Business Center LLCStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 98 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 98 HIGHWAY 7 CORPORATE CENTER CONTINUED Maximum amount 360,000$ Interest Rate 1.00%Note Issue Date 7/24/2008Final Payment 2/1/2034Tax Increment Prorated to Date Interest Due Note B Total Payments Note Balance8/1/20161,026.70 8,735.72 184,317.78 197,631.77$ 2/1/2017988.16 10,181.26 194,499.04 188,438.66$ 8/1/2017942.19 9,418.15 203,917.19 179,962.71$ 2/1/2018899.81 7,340.36 211,257.55 173,522.16$ 8/1/2018867.61 9,790.26 221,047.81 164,599.51$ 2/1/2019823.00 9,790.26 230,838.07 155,632.25$ 8/1/2019778.16 9,790.26 240,628.33 146,620.15$ 2/1/2020733.10 9,790.26 250,418.59 137,562.99$ 8/1/2020687.81 9,790.26 260,208.85 128,460.55$ 2/1/2021642.30 9,790.26 269,999.11 119,312.59$ 8/1/2021596.56 9,790.26 279,789.37 110,118.89$ 2/1/2022550.59 9,790.26 289,579.63 100,879.23$ 8/1/2022504.40 9,790.26 299,369.89 91,593.36$ 2/1/2023457.97 9,790.26 309,160.15 82,261.07$ 8/1/2023411.31 9,790.26 318,950.41 72,882.12$ 2/1/2024364.41 9,790.26 328,740.67 63,456.27$ 8/1/2024317.28 9,790.26 338,530.93 53,983.29$ 2/1/2025269.92 9,790.26 348,321.19 44,462.95$ 8/1/2025222.31 9,790.26 358,111.45 34,895.00$ 2/1/2026174.47 9,790.26 367,901.71 25,279.21$ 8/1/2026126.40 9,342.49 377,244.20 16,063.12$ 2/1/202780.32 9,342.49 386,586.69 6,800.95$ 8/1/202734.00 6,834.95 393,421.64 0.00$ TOTAL33,421.64 393,421.64 City of St. Louis ParkEconomic Development AuthorityPrincipal Ledger - Highway 7 Corporate CenterNOTE B - Hwy 7 Business Center LLC Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 99 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 99 HIGHWAY 7 CORPORATE CENTER CONTINUED Maximum amount 72,000$ Interest Rate 1.00%Note Issue Date 7/24/2008 Accrual date 10/6/2008Final Payment 2/1/2034Total Tax Tax Increment Increment Available atDate Interest Due Available 95.00% Total Payments Note Balance8/1/2016 388.03 - - 77,994.12$ 2/1/2017 389.97 - - 78,384.09$ 8/1/2017 391.92 - - 78,776.01$ 2/1/2018 393.88 - - 79,169.89$ 8/1/2018 395.85 - - 79,565.74$ 2/1/2019 397.83 - - 79,963.57$ 8/1/2019 399.82 - - 80,363.39$ 2/1/2020 401.82 - - 80,765.20$ 8/1/2020 403.83 - - 81,169.03$ 2/1/2021 405.85 - - 81,574.87$ 8/1/2021 407.87 - - 81,982.75$ 2/1/2022 409.91 - - 82,392.66$ 8/1/2022 411.96 - - 82,804.63$ 2/1/2023 414.02 - - 83,218.65$ 8/1/2023 416.09 - - 83,634.74$ 2/1/2024 418.17 - - 84,052.92$ 8/1/2024 420.26 - - 84,473.18$ 2/1/2025 422.37 - - 84,895.55$ 8/1/2025 424.48 - - 85,320.02$ 2/1/2026426.60 - - 85,746.62$ 8/1/2026428.73 447.77$ 425.38 425.38 85,749.98$ 2/1/2027428.75 447.77$ 425.38 850.76 85,753.34$ 8/1/2027428.77 25,457.90$ 24,185.01 25,035.77 61,997.11$ 2/1/2028309.99 49,991.01$ 47,491.16 72,526.93 14,815.93$ 8/1/202874.08 49,991.01$ 14,890.01 87,416.94 0.00$ TOTAL15,416.94 126,335.46 87,416.94 City of St. Louis ParkEconomic Development AuthorityPrincipal Ledger - Highway 7 Corporate CenterNOTE C - Hwy 7 Business Center LLC Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 100 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 100 HIGHWAY 7 CORPORATE CENTER CONTINUED Maximum amount 23,000$ Interest Rate 1.00%Note Issue Date 7/24/2008 Accrual date 10/6/2008Final Payment 2/1/2034Total Tax Tax Increment Increment Available atDate Interest Due Available 95.00% Total Payments Note Balance8/1/2016 123.95 - - 24,914.79$ 2/1/2017124.57 - - 25,039.36$ 8/1/2017125.20 - - 25,164.56$ 2/1/2018125.82 - - 25,290.38$ 8/1/2018126.45 - - 25,416.83$ 2/1/2019127.08 - - 25,543.92$ 8/1/2019127.72 - - 25,671.64$ 2/1/2020128.36 - - 25,800.00$ 8/1/2020129.00 - - 25,929.00$ 2/1/2021129.64 - - 26,058.64$ 8/1/2021130.29 - - 26,188.93$ 2/1/2022130.94 - - 26,319.88$ 8/1/2022131.60 - - 26,451.48$ 2/1/2023132.26 - - 26,583.74$ 8/1/2023132.92 - - 26,716.65$ 2/1/2024133.58 - - 26,850.24$ 8/1/2024134.25 - - 26,984.49$ 2/1/2025134.92 - - 27,119.41$ 8/1/2025135.60 - - 27,255.01$ 2/1/2026136.28 - - 27,391.28$ 8/1/2026136.96 - - 27,528.24$ 2/1/2027137.64 - 27,665.88$ 8/1/2027138.33 - 27,804.21$ 2/1/2028139.02 29,413.93$ 27,943.23 27,943.23 0.00$ TOTAL4,943.23 29,413.93 27,943.23 City of St. Louis ParkEconomic Development AuthorityPrincipal Ledger - Highway 7 Corporate CenterNOTE D - Hwy 7 Business Center LLCStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 101 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 101 WEST END Description: West End (County #1314) is a redevelopment district that was established on November 19, 2007. Originally the district encompassed six (6) parcels of land and was established to facilitate the redevelopment of a site near I-394 and Highway 100 into approximately 1.5 million square feet of office, 350,000 square feet of retail, 124 hotel units and a 120-unit luxury apartment building by Duke Realty. Subsequent to Duke Realty’s acquisition of the parcels, the property has been replatted into 9 parcels. The EDA executed a Development Agreement with Duke Realty Limited Partnership on December 17, 2007. The EDA provided Duke Realty a PAYGO note in a maximum principle of $21.1 million at 6.75% interest. In addition to the PAYGO note, the City issued $5,490,000 in GO TIF bonds in 2008 to pay for various public improvements in the area, which have a priority claim on annual TIF revenue. On May 17, 2010 and November 21, 2011, the EDA entered into the first amendment to the contract to describe the party’s respective responsibilities regarding redevelopment of property in the District. On May 8, 2015, the EDA entered into a second amended and restated contract with Duke Realty Limited Partnership and Central Park West LLC. This amendment assigned rights and obligations of Duke to Central Park West LLC, further defined the new phasing plan and updated timing of construction of the various phases. On May 2, 2016 the EDA entered into its third amendment to the contract with Central Park West LLC, Millennium Phase II LLC ad ACSLP LLC. This amendment stated what properties Central Park West had assigned to the other developers for the Millennium Apartments and to modify the construction schedule. To date the Homewood Suites hotel (2009), 350,000 sq/ft of retail (2011), the 119-unit Flats at West End Apartments (2013) and the 158-unit Millennium apartments (2015) have been constructed. Duke sold the retail and undeveloped portion of the project in 2015 to American Realty Capital-Retail Centers of America Inc. Duke then sold the eastern portion of the redevelopment site to several developers for various aspects of the Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 102 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 102 remaining development, once sufficient pre-leasing commitments have been secured. The plan is to construct ½ of the structured parking (1,214 stalls) and will include approximately 5,000 sq/ft of shared outdoor amenity space, 3,500 sq/ft of covered retail at ground level a fitness facility, public locker rooms, and an indoor bike room that can be accessed from the linear civic space. TPI Hospitality completed construction in early 2018 on a 126-room AC Hotel by Marriott. It features approximately 3,000 sq/ft of restaurant/lounge area, 1,000 sq/ft of meeting space and a spa. DLC Residential completed construction in late 2017 on Central Park West Apartment (building #1) which is a 6-story apartment complex with 199 units (approximately 115 in the City and the remaining 84 in Golden Valley). It plans to begin Building #2 in the spring of 2018. It is expected to be six stories and be comprised of 164 housing units. The Excelsior Group and Ryan Companies have begun construction in late 2019/early 2020 on an 11-story Class A office building with adjacent structured parking (Phase IV) Adopted………………..…… .11/19/2007 Requested Date…………..…06/30/2008 Certified Date……………… 07/09/2008 First Increment……..…….…… 07/2011 Anticipated Decertification....12/31/2036 Former and Current PID Numbers: Property AddressFormer PID # Former UseNew PID #'sNew Use30-029-24-32-0031 thru 0033 Office Bldgs - Land East of Utica30-029-24-32-0028 thru 0029 Apartments, Retail30-029-24-32-0019 Millennium Apartments30-029-24-32-0020 Olive Garden30-029-24-32-0021 The Flats at West End30-029-24-32-0022 Rainbow Grocery 30-029-24-33-0031 Shops at West End1600 Utica 30-029-24-33-0019 None This is now a portion of Utica Ave-No PID1621 Park Place 30-029-24-33-0002 Tennis Club 30-029-24-33-0031 Shops at West End30-029-24-32-0025 Homeward Suits Hotel30-029-24-32-0026 Existing Bank - Building5353 Wayzata Blvd 30-029-24-32-0015 Existing Bank5201 Wayzata 30-029-24-32-0018 Commercial5245 Wayzata 30-029-24-32-0007 Chilis & Olive Garden1551 Park Place 30-029-24-32-0011 Novartis Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 103 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 103 Fiscal Disparities Election: The City elected to calculate fiscal disparities from inside (B election) the district. Frozen Tax Rate: 103.0550% Allowable Uses: MN Statute 469.176 subd. 4j specifies the activities on which tax increment from a redevelopment district may be spent. In general, tax increment must be spent on correcting those conditions which caused the area to be designated a redevelopment district. Allowable uses include property acquisition, demolition, rehabilitation, installation of public utilities, road, sidewalks, public parking facilities, and allowable administrative expenses. Obligations: There is one GO Tax Increment Bond (2 purposes) and one PAYGO Note for this district as follows:  $5,490,000 GO Tax Increment Bonds, Series 2008B - $4,965,000 Senior TIF Bonds and $525,000 5% Admin Bonds. These bonds mature on February 1, 2024.  $21,100,000 PAYGO Note - This Note was issued to Duke Realty on November 1, 2010 at 6.75%. The EDA has pledged 95% of the tax increment revenues from the project for a twenty-one (21) year term (end date of August 1, 2031). The City issued the 2008B TIF Bonds to pay for such public improvements as the reconstruction of Duke Place Boulevard, required for the West End development. Pursuant to the Development Agreement, the City could issue TIF Bonds that produced net proceeds (after deducting costs of issuance, discount and capitalized interest) in the amount of $4,500,000 (Senior TIF Bonds) and were required to have 120% debt service coverage. These Bonds have a first priority on the TIF and are paid from 95% of the increment generated by all property in the TIF District. If the increment generated is insufficient to make the Senior TIF Bond payments, then Duke Realty is required to make up this shortfall within 20 days of receipt of notice from the EDA (failure by the EDA to provide this notice does not relieve Duke Realty of its obligation to make the required payment). The City could also issue a bond of any size it determined that is secured in whole or in part by any portion of the 5% of Tax Increments that are withheld by the EDA as administration fee. These Bonds were issued as part of the 2008B TIF Bond issue and had a principle amount of $525,000. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 104 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 104 Other Development Agreement Compliance: 1. LEED Certification. The core and shell of all office facilities are required to be LEED-certified (or at least meet current LEED requirements). 2. Outdoor Gathering Spaces. The Redeveloper will provide outdoor gathering spaces and at least one 5,000-square foot indoor gathering space, that are privately owned by and available for public use (this includes public restrooms). The City and Duke Realty will enter into use agreements regarding these spaces to describe their respective responsibilities regarding procedures for notice and comment about activities, insurance and the like. 3. Neighborhood Police Station. The Redeveloper will provide to City, without charge, approximately 250 square feet of finished space in Phase IIA for use as a neighborhood City police station. Upon completion, Duke Realty must operate and maintain the facility at their cost, including cleaning, heat and electricity. 4. Minimum Assessment Agreement. The Redeveloper is required to execute a Minimum Assessment Agreement (MAA) for each phase. The Phase IIA MAA (retail portion) has been executed and states that the minimum market value shall be $70,216,260 on January 1, 2009 for payable 2010 and shall be in effect for the term of the obligation. A Minimum Assessment Agreement with WEA, LLC for Phase IIC for the Flats at West End at $15,470,000 was also executed. In addition, upon completion of each Central Park West’s six (6) phases, they are required to enter into a in MAA, of which the market value for each agreement will be mutually determined by the parties based upon final construction plans. 5. Lookback Provision. The EDA was required to perform a “lookback” calculation 60 days after the earliest of (i) the date a Phase or facility reaches 95% lease-up; (ii) the date of any Transfer in whole or in part of the subject Phase or facility; or (iii) three years after the date of issuance of the Certificate of Completion for the Phase or subject facility (September 30, 2012). The Redeveloper had to submit evidence of its Yield on Total Project Costs, which is Net Operating Income in the year of the calculation divided by Total Project Costs to date. If that result is more than 15%, the EDA and Redeveloper share equally in the excess income. The EDA’s share is used to pay off outstanding PAYGO TIF Notes. The property was sold in 2015 and the lookback was completed. Since the yield to the developer was not more than 15%, there was no reduction in the Note. Four Year Rule: Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 105 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 105 MN Statute 469.176 subd. 6 requires that, within four years from certification date, certain activities must have taken place on each parcel within the TIF district. Required activities include demolition, rehabilitation, renovation and site improvements. The State Legislature amended the four-year rule limit to increase it to six years for districts certified after January 1, 2005 and before April 20, 2009. The West End Redevelopment district fits this timeline and its four-year rule is now July 9, 2014. Since qualifying redevelopment activities have been completed, the four-year rule has been met. Five Year Rule: At least 75% of tax increment revenues generated within the district must be used to pay for qualified costs within the district. The State Legislature amended the five-year rule limit to increase it to ten years for Redevelopment or Renewal and Renovation districts certified after June 30, 2003 and before April 20, 2009. The West End Redevelopment district fits this timeline and its five-year rule is July 9, 2018. Geographic Enlargements: MN Statute 469.175 subd. 4 (f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. The district may not be enlarged after July 2013. Recommendations: 1. Use of Future TIF After Obligation is Repaid. The TIF Note for this District will be paid off on August 1, 2031. Currently there is approximately cash balance $377,051 in the District for use on redevelopment projects, which represents the actual cash balance at September 30, 2019 after the obligations were paid. During 2019, $100,000 was used for the Southwest Light Rail Transit project. It is estimated that there will be approximately $186,000 available for pooling for qualified redevelopment costs when the obligations are paid in August 2031. The City/EDA has decided to modify the budget of the District to allow for an additional 10% pooling for affordable housing. This would allow approximately $4.3M to be used for affordable housing. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 106 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 106 WEST END CONTINUED City of St. Louis ParkWest EndORIGINALInterest Income 0.50% 1) Limited Pooling options availableDistrict TypeRedevelopment Admin Expense 3.00% 2) Budget Mod: Not Recommended at this timeProject Area3) Admin. Expense is currently: for year 2019 2.1%At or Under LimitFiscal DisparitiesB ElectionCounty Number1314Frozen RateUTA #1 103.055%UTA #2 0.000%UTA #3 0.000%Current Year 2019First Receipt City Approved Cert Request Certified Legal Term Expected Term Tax Increment Interest Income Other Revenue TOTAL REVENUES Project Interest Expense Bonds Interfund Loan Admin Expense County Admin Outside District Other Expense TOTAL EXPENSEOriginal Budget2011 11/19/2007 6/30/2008 7/9/2008 12/31/2036 12/31/2036‐ ‐ ‐ Cumulative Modified143,914,895 143,914,895 95,000,000 34,523,405 14,391,490 143,914,895 143,914,895 End of District Projected Actual Total59,020,866 156,124 5,490,000 43,082,343 5,402,854 36,097,598 7,793,222 280,738 1,646,184 74,698 100,000 8,747,738 42,781,385 60,143,032 Under / (Over) Budget84,894,029 (156,124) (5,490,000) 100,832,552 89,597,146 (1,574,193) (7,793,222) (280,738) 12,745,306 (74,698) (100,000) (8,747,738) 101,133,510 83,771,863 9,743 134,853.50 9,743 YearBase CurrentFiscal DisparitiesCapturedTax Increment Interest Income Other Revenue TOTAL REVENUESProjectPaygoBonds Interfund LoanAdmin Expense County Admin Outside DistrictIncrement ReturnedTOTAL EXPENSE7 2017859,520 3,575,601 631,280 2,084,801 124.745% 2,076,586 2,839 ‐ 2,079,425 35,440 1,078,322 552,813 19,086 12,637 3,351 ‐ ‐ 1,701,649 799,732 8 2018859,520 3,637,813 663,534 2,114,759 130.191% 2,500,563 4,531 ‐ 2,505,094 ‐ 1,614,363 556,612 19,086 19,808 3,282 ‐ ‐ 2,213,151 1,091,674 9 2019859,520 4,166,046 685,269 2,621,257 125.012% 2,691,612 5,458 ‐ 2,697,070 ‐ 1,919,765 559,613 23,919 80,748 3,282 100,000 ‐ 2,687,327 1,101,418 10 2020859,520 4,166,046 685,269 2,621,257 125.012% 2,691,612 5,507 ‐ 2,697,119 ‐ 2,151,053 565,563 21,364 80,748 3,282 ‐ ‐ 2,822,011 976,525 11 2021859,520 4,166,046 685,269 2,621,257 125.012% 2,691,612 4,883 ‐ 2,696,494 ‐ 2,149,728 569,300 18,683 80,748 3,282 ‐ ‐ 2,821,741 851,278 12 2022859,520 4,166,046 685,269 2,621,257 125.012% 2,691,612 4,256 ‐ 2,695,868 ‐ 2,154,191 571,913 15,867 80,748 3,282 ‐ ‐ 2,826,001 721,145 13 2023859,520 4,166,046 685,269 2,621,257 125.012% 2,691,612 3,606 ‐ 2,695,217 ‐ 2,154,441 573,400 12,910 80,748 3,282 ‐ ‐ 2,824,781 591,581 14 2024859,520 4,166,046 685,269 2,621,257 125.012% 2,691,612 2,958 ‐ 2,694,569 ‐ 2,151,006 583,181 9,806 80,748 3,282 ‐ ‐ 2,828,023 458,127 15 2025859,520 4,166,046 685,269 2,621,257 125.012% 2,691,612 2,291 ‐ 2,693,902 ‐ 2,647,222 ‐ 6,546 80,748 3,282 ‐ ‐ 2,737,798 414,231 16 2026859,520 4,166,046 685,269 2,621,257 125.012% 2,691,612 2,071 ‐ 2,693,683 ‐ 2,647,222 ‐ 80,748 3,282 ‐ ‐ 2,731,252 376,661 17 2027859,520 4,166,046 685,269 2,621,257 125.012% 2,691,612 1,883 ‐ 2,693,495 ‐ 2,647,222 ‐ 80,748 3,282 ‐ ‐ 2,731,252 338,904 18 2028859,520 4,166,046 685,269 2,621,257 125.012% 2,691,612 1,695 ‐ 2,693,306 ‐ 2,647,222 ‐ 80,748 3,282 ‐ ‐ 2,731,252 300,957 19 2029859,520 4,166,046 685,269 2,621,257 125.012% 2,691,612 1,505 ‐ 2,693,116 ‐ 2,647,222 ‐ 80,748 3,282 ‐ ‐ 2,731,252 262,821 20 2030859,520 4,166,046 685,269 2,621,257 125.012% 2,691,612 1,314 ‐ 2,692,926 ‐ 2,647,222 ‐ 80,748 3,282 ‐ ‐ 2,731,252 224,495 21 2031859,520 4,166,046 685,269 2,621,257 125.012% 2,691,612 1,122 ‐ 2,692,734 ‐ 2,647,222 ‐ 80,748 3,282 ‐ ‐ 2,731,252 185,976 22 2032859,520 4,166,046 685,269 2,621,257 125.012% 2,691,612 930 ‐ 2,692,541 ‐ ‐ ‐ 80,748 3,282 ‐ 1,749,548 1,833,578 1,044,940 ‐ 23 2033859,520 4,166,046 685,269 2,621,257 125.012% 2,691,612 5,225 ‐ 2,696,836 ‐ ‐ ‐ 80,748 3,282 ‐ 1,749,548 1,833,578 1,908,198 ‐ 24 2034859,520 4,166,046 685,269 2,621,257 125.012% 2,691,612 9,541 ‐ 2,701,153 ‐ ‐ ‐ 80,748 3,282 ‐ 1,749,548 1,833,578 2,775,773 ‐ 25 2035859,520 4,166,046 685,269 2,621,257 125.012% 2,691,612 13,879 ‐ 2,705,490 ‐ ‐ ‐ 80,748 3,282 ‐ 1,749,548 1,833,578 3,647,685 ‐ 26 2036859,520 4,166,046 685,269 2,621,257 125.012% 2,691,612 18,238 ‐ 2,709,850 ‐ ‐ ‐ 80,748 3,282 ‐ 1,749,548 1,833,578 4,523,958 ExpendituresTotal Budget DISTRICT INFORMATIONASSUMPTIONSRECOMMENDATIONSTIF PLAN BUDGET ANALYSISTIF YearTAX CAPACITYCurrent Local Tax RateRevenuesExpendituresEnding BalanceDecertifiesRevenuesCASH FLOW PROJECTIONS ROLL UPID Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 107 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 107 WEST END CONTINUED City of St. Louis ParkWest EndPursuant to M.S. 469.176 Subd. 3:Admin limit is based on:RevenuesRevenuesEst expend 129,523,405 12,952,340.5 Actual expend 33,341,979 3,334,197.90 TEST 1:Admin per TIF Plan $14,391,490Actual TIF 59,020,866 5,902,086.56 TEST 2:Estimated TIF Admin Allowable (10%) $12,952,341TIF expenditures per plan 129,523,405 TEST 3:Cumulative TIF Admin Allowable (10%) $5,902,087Pursuant to M.S. 469.1763 Subd. 2:Total TIF Revenues for the Project $59,020,866YDistrict Type: RedevelopmentDoes this section apply? YesRESULTS:Cumulative TIF Admin Allowable (10%) $5,902,087Certification Request Date: 6/30/2008Actual Admin Expenses $1,646,184 Does TIF Plan Specify Assisting Housing Outside Project Area? YesAvailable Admin $4,255,903If so, What is the Additional % Allowed in TIF Plan (Up to 10%): 10%Actual Percentage2.8%Total Pooling %: 25%TIF Year Year Admin. Expenses Total % Allowable Current Year Cummulative Admin Costs Spent Outside Cumulative25% Pooling for Redevelopment10% Pooling for HousingIncrement GeneratedCosts Authorized Required?Increment returned Net RetainedP&I Due after year end Excess (Not Excess)7 2017172,906 8,136,525 2.1%2,076,586 8,071,294 172,906 1,844,918 ‐ ‐ 799,732 8,136,525 143,914,895 no00(135,778,370)8 2018192,714 10,641,619 1.8%2,500,563 10,571,857 192,714 2,450,250 ‐ ‐ 1,091,674 10,641,619 143,914,895 no00(133,273,276)9 2019273,462 13,338,689 2.1%2,691,612 13,263,469 273,462 3,042,405 100,000 100,000 1,101,418 1,101,418 13,338,689 143,914,895 no00(130,576,206)10 2020354,211 16,035,808 2.2%2,691,612 15,955,080 354,211 3,634,559 ‐ 100,000 976,525 976,525 16,035,808 143,914,895 no00(127,879,087)11 2021434,959 18,732,302 2.3%2,691,612 18,646,692 434,959 4,226,714 ‐ 100,000 851,278 851,278 18,732,302 143,914,895 no00(125,182,593)12 2022515,707 21,428,170 2.4%2,691,612 21,338,303 515,707 4,818,868 ‐ 100,000 721,145 721,145 21,428,170 143,914,895 no00(122,486,725)13 2023596,456 24,123,387 2.5%2,691,612 24,029,915 596,456 5,411,023 ‐ 100,000 591,581 591,581 24,123,387 143,914,895 no00(119,791,508)14 2024677,204 26,817,957 2.5%2,691,612 26,721,527 677,204 6,003,178 ‐ 100,000 458,127 458,127 26,817,957 143,914,895 no00(117,096,938)15 2025757,952 29,511,859 2.6%2,691,612 29,413,138 757,952 6,595,332 ‐ 100,000 414,231 414,231 29,511,859 143,914,895 no 0 0(114,403,036)16 2026 838,701 32,205,542 2.6% 2,691,612 32,104,750 838,701 7,187,487 ‐ 100,000 376,661 376,661 32,205,542 143,914,895 no 0 0(111,709,353)17 2027 919,449 34,899,037 2.6% 2,691,612 34,796,361 919,449 7,779,641 ‐ 100,000 338,904 338,904 34,899,037 143,914,895 no 0 0(109,015,858)18 2028 1,000,197 37,592,343 2.7% 2,691,612 37,487,973 1,000,197 8,371,796 ‐ 100,000 300,957 300,957 37,592,343 143,914,895 no 0 0(106,322,552)19 2029 1,080,946 40,285,459 2.7% 2,691,612 40,179,584 1,080,946 8,963,950 ‐ 100,000 262,821 262,821 40,285,459 143,914,895 no 0 0(103,629,436)20 2030 1,161,694 42,978,385 2.7% 2,691,612 42,871,196 1,161,694 9,556,105 ‐ 100,000 224,495 224,495 42,978,385 143,914,895 no00(100,936,510)21 20311,242,443 45,671,119 2.7%2,691,612 45,562,808 1,242,443 10,148,259 ‐ 100,000 185,976 185,976 45,671,119 143,914,895 no00(98,243,776)22 20321,323,191 48,363,660 2.7%2,691,612 48,254,419 1,323,191 858,964 ‐ 100,000 858,964 858,964 48,363,660 143,914,895 no00(95,551,235)23 20331,403,939 51,060,497 2.7%2,691,612 50,946,031 1,403,939 863,258 ‐ 100,000 863,258 863,258 51,060,497 143,914,895 no00(92,854,398)24 20341,484,688 53,761,649 2.8%2,691,612 53,637,642 1,484,688 867,575 ‐ 100,000 867,575 867,575 53,761,649 143,914,895 no00(90,153,246)25 20351,565,436 56,467,140 2.8%2,691,612 56,329,254 1,565,436 871,913 ‐ 100,000 871,913 871,913 56,467,140 143,914,895 no00(87,447,755)26 20361,646,184 59,176,990 2.8%2,691,612 59,020,866 1,646,184 876,272 ‐ 100,000 876,272 876,272 ADMINISTRATIVE EXPENSE TESTADMINISTRATIVE EXPENSE CALCULATIONPOOLING CALCULATION (25% Outside of District)Accummulated Totals Tax Increment25% for Qualified CostsAvailable for PoolingEXCESS INCREMENT Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 108 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 108 WEST END CONTINUED Maximum amount 21,100,000$ PAYGO Interest Rate 6.75%Note Issue Date 8/1/2011Final Payment 2/1/2032Total TIF Admin Over/(Short) Tax Increment Tax Increment CumulativeAccruedAvailable For Admin Bond Available at Available For Tax Increment Accrued Interest Interest(Net of OSA Fee) Payment 95.00% PAYGO Note Paid Not Paid Balance21,100,000.00$ 2/1/2017 705,696.56 783,297.71 (39,164.89) (45,215.63) (6,050.74)$ 744,132.82 (432,640.63) 237,078.91 2,404,818.41 20,909,527.57$ 468,617.64 5,331,409.30$ 6.58/1/2017705,696.56 1,060,449.06 (53,022.45) (9,515.63) 43,506.82$ 1,007,426.61 (65,440.63) 841,243.32 3,246,061.73 20,909,527.57$ (135,546.76) 5,195,862.54$ 72/1/2018705,696.56 1,016,136.95 (50,806.85) (49,515.63) 1,291.22$ 965,330.10 (440,440.63) 677,062.95 3,923,124.68 20,909,527.57$ 28,633.60 5,224,496.15$ 7.58/1/2018705,696.56 1,065,946.95 (53,297.35) (8,715.63) 44,581.72$ 1,012,649.60 (57,940.63) 937,300.35 4,860,425.03 20,909,527.57$ (231,603.80) 4,992,892.35$ 82/1/2019705,696.56 1,434,615.61 (71,730.78) (53,715.63) 18,015.15$ 1,362,884.83 (447,940.63) 778,655.72 5,639,080.75 20,909,527.57$ (72,959.16) 4,919,933.18$ 8.58/1/2019705,696.56 1,393,274.79 (69,663.74) (7,815.63) 61,848.11$ 1,323,611.05 (50,140.63) 1,141,109.31 6,780,190.06 20,909,527.57$ (435,412.76) 4,484,520.43$ 92/1/2020705,696.56 1,393,274.79 (69,663.74) (62,815.63) 6,848.11$ 1,323,611.05 (455,140.63) 868,470.42 7,648,660.48 20,909,527.57$ (162,773.87) 4,321,746.56$ 9.58/1/2020705,696.56 1,393,274.79 (69,663.74) (6,578.13) 63,085.61$ 1,323,611.05 (41,028.13) 1,282,582.92 8,931,243.40 20,909,527.57$ (576,886.37) 3,744,860.20$ 102/1/2021705,696.56 1,393,274.79 (69,663.74) (66,578.13) 3,085.61$ 1,323,611.05 (466,028.13) 857,582.92 9,788,826.32 20,909,527.57$ (151,886.37) 3,592,973.83$ 10.58/1/2021705,696.56 1,393,274.79 (69,663.74) (5,228.13) 64,435.61$ 1,323,611.05 (31,465.63) 1,292,145.42 11,080,971.75 20,909,527.57$ (586,448.87) 3,006,524.97$ 112/1/2022705,696.56 1,393,274.79 (69,663.74) (75,228.13) (5,564.39)$ 1,323,611.05 (471,465.63) 852,145.42 11,933,117.17 20,909,527.57$ (146,448.87) 2,860,076.10$ 11.58/1/2022705,696.56 1,393,274.79 (69,663.74) (3,653.13) 66,010.61$ 1,323,611.05 (21,565.63) 1,302,045.42 13,235,162.59 20,909,527.57$ (596,348.87) 2,263,727.24$ 122/1/2023705,696.56 1,393,274.79 (69,663.74) (78,653.13) (8,989.39)$ 1,323,611.05 (481,565.63) 842,045.42 14,077,208.01 20,909,527.57$ (136,348.87) 2,127,378.37$ 12.58/1/2023705,696.56 1,393,274.79 (69,663.74) (1,965.63) 67,698.11$ 1,323,611.05 (11,215.63) 1,312,395.42 15,389,603.43 20,909,527.57$ (606,698.87) 1,520,679.51$ 132/1/2024705,696.56 1,393,274.79 (69,663.74) (86,965.63) (17,301.89)$ 1,323,611.05 (496,215.63) 827,395.42 16,216,998.85 20,909,527.57$ (121,698.87) 1,398,980.64$ 13.58/1/2024705,696.56 1,393,274.79 (69,663.74) - 1,323,611.05 - 1,323,611.05 17,540,609.90 20,909,527.57$ (617,914.50) 781,066.15$ 142/1/2025705,696.56 1,393,274.79 (69,663.74) - 1,323,611.05 - 1,323,611.05 18,864,220.95 20,909,527.57$ (617,914.50) 163,151.65$ 14.58/1/2025705,696.56 1,393,274.79 (69,663.74) - 1,323,611.05 - 1,323,611.05 20,187,832.00 20,909,527.57$ - 163,151.65$ 152/1/2026705,696.56 1,393,274.79 (69,663.74) - 1,323,611.05 - 1,323,611.05 21,511,443.05 20,909,527.57$ - 163,151.65$ 15.58/1/2026705,696.56 1,393,274.79 (69,663.74) - 1,323,611.05 - 1,323,611.05 22,835,054.10 20,909,527.57$ - 163,151.65$ 162/1/2027705,696.56 1,393,274.79 (69,663.74) - 1,323,611.05 - 1,323,611.05 24,158,665.15 20,909,527.57$ - 163,151.65$ 16.58/1/2027705,696.56 1,393,274.79 (69,663.74) - 1,323,611.05 - 1,323,611.05 25,482,276.20 20,909,527.57$ - 163,151.65$ 172/1/2028705,696.56 1,393,274.79 (69,663.74) - 1,323,611.05 - 1,323,611.05 26,805,887.25 20,909,527.57$ - 163,151.65$ 17.58/1/2028705,696.56 1,393,274.79 (69,663.74) - 1,323,611.05 - 1,323,611.05 28,129,498.30 20,909,527.57$ - 163,151.65$ 182/1/2029705,696.56 1,393,274.79 (69,663.74) - 1,323,611.05 - 1,323,611.05 29,453,109.35 20,909,527.57$ - 163,151.65$ 18.58/1/2029705,696.56 1,393,274.79 (69,663.74) - 1,323,611.05 - 1,323,611.05 30,776,720.40 20,909,527.57$ - 163,151.65$ 192/1/2030705,696.56 1,393,274.79 (69,663.74) - 1,323,611.05 - 1,323,611.05 32,100,331.45 20,909,527.57$ - 163,151.65$ 19.58/1/2030705,696.56 1,393,274.79 (69,663.74) - 1,323,611.05 - 1,323,611.05 33,423,942.50 20,909,527.57$ - 163,151.65$ 202/1/2031705,696.56 1,393,274.79 (69,663.74) - 1,323,611.05 - 1,323,611.05 34,747,553.55 20,909,527.57$ - 163,151.65$ 20.58/1/2031705,696.56 1,393,274.79 (69,663.74) - 1,323,611.05 - 1,323,611.05 36,071,164.61 20,909,527.57$ - 163,151.65$ 21TOTAL 28,227,862.21 45,396,536.38 (2,269,869.71) (743,593.88) 481,319.73 43,126,666.68 (6,570,381.38) 36,097,599.00 YearCity of St. Louis ParkEconomic Development AuthorityWest End - County TIF District 1314Duke RealtyDate Interest Due 5% Admin FeeBond Payment Admin BondsBond Payment Sr. BondsNote BalanceStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 109 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 109 ELLIPSE ON EXCELSIOR Description: Ellipse on Excelsior (County #1315) is a redevelopment district that was established on February 2, 2009. Originally the district encompassed ten (10) parcels of land and was established to facilitate the purchase and redevelopment at the northwest corner of Excelsior Boulevard and France Avenue (former Al’s Liquors, Anderson Cleaner’s and motel sites). The first phase consists of the redevelopment of the Al’s Bar and Anderson Cleaner’s site into a five-story mixed use building consisting of 132 market rate apartments and 16,394 square feet of retail. The EDA is required to issue the Developer two TIF notes totaling up to $1,430,000, at an interest rate of 6%, to reimburse them for qualified redevelopment costs. The City purchased the motel site in 2009 and demolished the building in 2010. On February 6, 2012, the City entered into a development agreement with Ellipse II, LLC. to construct the second phase of the development, which consists of 58 market rate rental units. On August 20, 2012, the EDA entered into an amended and restated purchase and redevelopment agreement to allocate a portion of the property from Phase I to Phase II. The project was completed in early 2013. The EDA issued the Developer a pay-as-you-go TIF note for $686,195, at an interest rate of 5.6%, to reimburse them for qualified redevelopment costs (reduced from $700,000 after completion of the look back). Adopted……………..………. 02/02/2009 Requested Date………….….06/30/2009 Certified Date………..…..…..07/09/2009 First Increment………..…....…. 07/2011 Decertifies………………… 12/31/2036 Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 110 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 110 Former and Current PID Numbers: Former PIDFormer UseNew PIDNew Use06-028-24-41-0002Al's Liquor06-028-24-41-0069Al's Liquor06-028-24-41-0053 Excelsior Blvd LLC06-028-24-41-0052Al's Liquor06-028-24-41-0056Al's Liquor06-028-24-41-0057Al's Liquor06-028-24-41-0051Al's Liquor06-028-24-41-0050Al's Liquor06-028-24-41-0058Al's Liquor06-028-24-41-0003 Budget Motel 06-028-24-41-0076 E2 Apartments06-028-24-41-0075 Ellipse Apartments Fiscal Disparities Election: The City elected to calculate fiscal disparities from inside (B election) the district. Frozen Tax Rate: 107.8190% Allowable Uses: MN Statute 469.176 sub 4j specifies the activities on which tax increment from a redevelopment district may be spent. In general, tax increment must be spent on correcting those conditions which caused the area to be designated a redevelopment district. Allowable uses include property acquisition, demolition, rehabilitation, installation of public utilities, road, sidewalks, public parking facilities, and allowable administrative expenses. Obligations: There are three PAYGO Notes that were issued for this project as follows:  $1,230,000 PAYGO Note A – Redevelopment Costs issued on February 23, 2011, payable through 2/1/2025.  $220,000 PAYGO Note B – Environmental Costs issued on February 23, 2011, payable through 2/1/2025. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 111 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 111  $686,195 PAYGO Note for E2– Redevelopment Costs issued on August 1, 2015, payable through 2/1/2023. The first two (2) Notes carry a 6% interest rate and the third one has a 5.6% interest rate. Each is paid from 95% of the available increment generated by the Ellipse on Excelsior Apartments (first 2 Notes) and Ellipse 2 (e2) on the second Note. The available increment is prorated semi-annually between the first two Notes with 86% being paid to the A Note and 14% being paid to the B Note. Notes A and B were paid off on August 1, 2018. The E2 Note will be repaid in full by February 1, 2021. Other Development Agreement Compliance: 1. Look Back – Ellipse I. Within 60 days after the earliest of (i) stabilization (93% of the rental units are leased); (2) sale of property or; (3) three years after the issuance of the CO, the developer will provide the City the financial data to calculate the actual rate of return to the developer. If, based on such review, the actual profit for the developer exceeds a 20% internal rate of return, then 50% of the excess percentage of the profit will be applied as prepayment of the outstanding principal amount of the TIF Note. The development reached its occupancy threshold in mid-2011 and the look back was completed. The developer ‘s expected internal rate of return was below the 20% threshold so there was no excess profit to prepay the TIF note. 2. Look Back – Ellipse II. Within 60 days after the earliest of (i) stabilization (93% of the rental units are leased); (2) sale of property or; (3) three years after the issuance of the CO, the developer will provide the City the financial data to calculate the actual rate of return to the developer. If, based on such review, the actual profit for the developer exceeds a 18% internal rate of return, then 50% of the excess percentage of the profit will be applied as prepayment of the outstanding principal amount of the TIF Note. The lookback was completed in May 2015 and the TIF Note was reduced by $13,805 to 686,195. 3. Special Service District – Both Properties. Upon written request by the City, they will submit required petition to renew any levy of special service charges for the District. 4. Minimum Assessment Agreement – Both Properties. For Phase I, the minimum market value as of January 2, 2011 shall be $8,819,000 and the minimum market value as of January 2, 2012 shall be $17,637,450. The Assessment Agreement shall be in place until the TIF Note is paid in full or the TIF District terminates, whichever is sooner. For Phase II, the minimum market value as of January 2, 2014 shall be $6,380,000. The Assessment Agreement shall be in place until the TIF Note is paid in full or the TIF District terminates, whichever is sooner. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 112 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 112 Four Year Rule: MN Statute 469.176 sub 6 requires that, within four years from certification date, certain activities must have taken place on each parcel within the TIF district. Required activities include demolition, rehabilitation, renovation and site improvements. The State Legislature amended the four-year rule limit to increase it to six years for districts certified after January 1, 2005 and before April 20, 2009. The Ellipse on Excelsior district does not fit this timeline and its four-year rule is July 2013. Since redevelopment has been completed on the former Al’s Bar and Anderson Drycleaner site (construction of the Ellipse Apartments) and the City has purchased and demolished the motel on the other site, the four-year rule has been met. Five Year Rule: At least 75% of tax increment revenues generated within the district must be used to pay for qualified costs within the district. The State Legislature amended the five-year rule limit to increase it to ten years for Redevelopment or Renewal and Renovation districts certified after June 30, 2003 and before April 20, 2009. The Ellipse on Excelsior district does not fit this timeline and its five-year rule is July 2014. Since the EDA has entered into contracts and obligated TIF dollars, the Five-Year rule has been satisfied. Geographic Enlargements: MN Statute 469.175 sub 4 (f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. The district may not be enlarged after July 2014. Recommendations: 1. 6-Year Rule. Since TIF Note A and B were paid off on 8/1/2018. We completed the analysis for the 6-year rule analysis to determine if the District met the restrictions for in district increment use. The analysis was projected to 2019 since the obligations were paid. If future increment is intended to be used for affordable housing, as described below, we would recommend extending the analysis to the statutory duration of the District. 2. Use of Future TIF After Obligation is Repaid. The remaining TIF Note for this District will be paid off on February 1, 2021. We recommend that the City/EDA complete the required modification to the TIF District before year end 2019 to retain up to 35% of the TIF in the future for use on tax credit eligible rental housing pursuant to Minnesota Statutes, Section 469.1763, subdivision 2(d). This would allow approximately $3.7M to be used for affordable housing. In addition, there is currently a cash balance $304,916 in the District for use on redevelopment projects, which represents the actual cash balance at September 30, 2019 after the obligations were paid. It is estimated that approximately $219,000 could be used in 2020 toward the fiberoptic cable project. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 113 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 113 ELLIPSE ON EXCELSIOR CONTINUED City of St. Louis ParkEllipse on ExcelsiorORIGINALInterest Income 0.50% 1) Limited Pooling options availableDistrict TypeRedevelopment Admin Expense 3.00% 2) Budget Mod: Not Recommended at this timeProject Area3) Admin. Expense is currently:for year 20192.3%At or Under LimitFiscal DisparitiesB ElectionCounty Number1315Frozen RateUTA #1 107.819%UTA #2 0.000%UTA #3 0.000%Current Year 2019First Receipt City Approved Cert Request Certified Legal Term Expected Term Tax Increment Interest Income TOTAL REVENUES ProjectInterfund Loan Admin Expense County AdminOutside District Other Expense TOTAL EXPENSEOriginal Budget2011 2/2/2009 6/30/2009 7/9/2009 12/31/2036 12/31/2036‐ ‐ ‐ Cumulative Modified11,058,000 11,058,000 8,300,000 1,652,670 1,105,830 11,058,500 11,058,500 End of District Projected Actual Total14,779,372 165,655 9,494,719 176,599 1,592,574 289,207 869,139 51,917 417,245 29,796 219,000 7,367,673 7,375,749 11,013,151 Under / (Over) Budget(3,721,372) (165,655) 1,563,281 8,123,401 60,096 (289,207) (869,139) (51,917) 688,585 (29,796) (219,000) (7,367,673) 3,682,751 45,349 (233,365) Year Base CurrentFiscal DisparitiesCaptured Tax Increment Interest Income TOTAL REVENUESProject Ellipse Note A Ellipse Note B Ellipse E2 Interfund LoanAdmin Expense County Admin Outside DistrictIncrement ReturnedTOTAL EXPENSE7 201724,527 584,015 23,927 535,561 124.745% 575,358 178 575,536 ‐ 279,016 45,421 138,468 8,096 7,426 1,280 ‐ ‐ 479,708 163,084 8 201824,527 595,890 25,128 546,235 130.191% 586,830 47 586,877 ‐ 360,134 88,578 153,267 8,501 5,674 1,273 ‐ 617,427 132,534 9 201924,527 669,515 24,349 620,639 125.012% 666,758 663 667,420 ‐ ‐ ‐ 157,300 ‐ 21,000 1,273 153,000 ‐ 332,573 467,382 10 202024,527 669,515 24,349 620,639 125.012% 666,758 2,337 669,095 ‐ ‐ 159,482 ‐ 20,003 1,280 66,000 433,393 680,158 456,319 11 202124,527 669,515 24,349 620,639 125.012% 666,758 2,282 669,039 ‐ 79,741 ‐ 20,003 1,280 ‐ 433,393 534,417 590,941 12 202224,527 669,515 24,349 620,639 125.012% 666,758 2,955 669,712 ‐ ‐ ‐ 20,003 1,280 ‐ 433,393 454,675 805,979 13 202324,527 669,515 24,349 620,639 125.012% 666,758 4,030 670,788 ‐ ‐ 20,003 1,280 ‐ 433,393 454,675 1,022,091 14 202424,527 669,515 24,349 620,639 125.012% 666,758 5,110 671,868 ‐ ‐ 20,003 1,280 ‐ 433,393 454,675 1,239,284 15 202524,527 669,515 24,349 620,639 125.012% 666,758 6,196 672,954 ‐ ‐ 20,003 1,280 ‐ 433,393 454,675 1,457,563 16 202624,527 669,515 24,349 620,639 125.012% 666,758 7,288 674,046 ‐ ‐ 20,003 1,280 ‐ 433,393 454,675 1,676,933 17 202724,527 669,515 24,349 620,639 125.012% 666,758 8,385 675,142 ‐ ‐ 20,003 1,280 ‐ 433,393 454,675 1,897,400 18 202824,527 669,515 24,349 620,639 125.012% 666,758 9,487 676,245 ‐ ‐ 20,003 1,280 ‐ 433,393 454,675 2,118,970 19 202924,527 669,515 24,349 620,639 125.012% 666,758 10,595 677,353 ‐ ‐ 20,003 1,280 ‐ 433,393 454,675 2,341,647 20 203024,527 669,515 24,349 620,639 125.012% 666,758 11,708 678,466 ‐ ‐ 20,003 1,280 ‐ 433,393 454,675 2,565,438 21 203124,527 669,515 24,349 620,639 125.012% 666,758 12,827 679,585 ‐ ‐ 20,003 1,280 ‐ 433,393 454,675 2,790,348 22 203224,527 669,515 24,349 620,639 125.012% 666,758 13,952 680,710 ‐ ‐ 20,003 1,280 ‐ 433,393 454,675 3,016,382 23 203324,527 669,515 24,349 620,639 125.012% 666,758 15,082 681,840 ‐ ‐ 20,003 1,280 ‐ 433,393 454,675 3,243,546 24 203424,527 669,515 24,349 620,639 125.012% 666,758 16,218 682,975 ‐ ‐ 20,003 1,280 ‐ 433,393 454,675 3,471,846 25 203524,527 669,515 24,349 620,639 125.012% 666,758 17,359 684,117 ‐ ‐ 20,003 1,280 ‐ 433,393 454,675 3,701,288 26 203624,527 669,515 24,349 620,639 125.012% 666,758 18,506 685,264 ‐ ‐ 20,003 1,280 ‐ 433,393 454,675 3,931,877 ExpendituresTotal Budget DISTRICT INFORMATIONASSUMPTIONSRECOMMENDATIONSPaygoTIF PLAN BUDGET ANALYSISTIF YearTAX CAPACITYCurrent Local Tax RateRevenuesExpendituresEnding BalanceDecertifies RevenuesCASH FLOW PROJECTIONS ROLL UPIDID Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 114 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 114 ELLIPSE ON EXCELSIOR CONTINUED City of St. Louis ParkEllipse on ExcelsiorPursuant to M.S. 469.176 Subd. 3:RevenuesAdmin limit is based on: RevenuesEst expend 9,952,670 995,267.0 Actual expend 6,958,503 695,850.33 Actual TIF 14,779,372 1,477,937.25 TEST 1:Admin per TIF Plan $1,105,830NTEST 2:Estimated TIF Admin Allowable (10%) $1,105,800Estimated Total TIF Revenues per TIF Plan $11,058,000YTEST 3:Cumulative TIF Admin Allowable (10%) $1,477,937Pursuant to M.S. 469.1763 Subd. 2:Total TIF Revenues for the Project$14,779,372NDistrict Type:RedevelopmentDoes this section apply?YesRESULTS:Estimated TIF Admin Allowable (10%) $1,105,800Certification Request Date: 6/30/2009Actual Admin Expenses$417,245 Does TIF Plan Specify Assisting Housing Outside Project Area?YesAvailable Admin$688,555If so, What is the Additional % Allowed in TIF Plan (Up to 10%):10%Actual Percentage2.8%Total Pooling %:25%TIF Year Year Admin. Expenses Total % Allowable Current Year Cummulative Admin CostsSpent Outside Cumulative25% Pooling for Redevelopment10% Pooling for HousingIncrement GeneratedCosts Authorized Required?Increment returned Net RetainedP&I Due after year end Excess (Not Excess)7 201750,525 2,191,532 2.3%575,358 2,190,903 50,525 497,201 ‐ ‐ 163,084 2,191,532 11,058,500 no00(8,866,968)8 201856,199 2,778,409 2.0%586,830 2,777,733 56,199 638,234 ‐ ‐ 132,534 2,778,409 11,058,500 no00(8,280,091)9 201977,199 3,445,829 2.2%666,758 3,444,491 77,199 783,924 153,000 153,000 467,382 467,382 3,445,829 11,058,500 no00(7,612,671)10 202097,202 4,114,924 2.4%666,758 4,111,248 97,202 214,419 66,000 ‐ 214,419 214,419 4,114,924 11,058,500 no00(6,943,576)11 2021117,204 4,783,963 2.4%666,758 4,778,006 117,204 214,364 ‐ ‐ 214,364 214,364 4,783,963 11,058,500 no00(6,274,537)12 2022137,207 5,453,676 2.5%666,758 5,444,764 137,207 215,037 ‐ ‐ 215,037 215,037 5,453,676 11,058,500 no00(5,604,824)13 2023157,210 6,124,463 2.6%666,758 6,111,522 157,210 216,112 ‐ ‐ 216,112 216,112 6,124,463 11,058,500 no00(4,934,037)14 2024177,213 6,796,332 2.6%666,758 6,778,279 177,213 217,193 ‐ ‐ 217,193 217,193 6,796,332 11,058,500 no00(4,262,168)15 2025197,215 7,469,286 2.6%666,758 7,445,037 197,215 218,279 ‐ ‐ 218,279 218,279 7,469,286 11,058,500 no00(3,589,214)16 2026217,218 8,143,331 2.7%666,758 8,111,795 217,218 219,370 ‐ ‐ 219,370 219,370 8,143,331 11,058,500 no00(2,915,169)17 2027237,221 8,818,474 2.7%666,758 8,778,553 237,221 220,467 ‐ ‐ 220,467 220,467 8,818,474 11,058,500 no00(2,240,026)18 2028257,224 9,494,719 2.7%666,758 9,445,310 257,224 221,569 ‐ ‐ 221,569 221,569 9,494,719 11,058,500 yes9,061,3260(1,563,781)19 2029277,226 10,172,071 2.7%666,758 10,112,068 277,226 222,677 ‐ ‐ 222,677 222,677 10,172,071 11,058,500 yes9,738,6790(886,429)20 2030297,229 10,850,537 2.7%666,758 10,778,826 297,229 223,791 ‐ ‐ 223,791 223,791 10,850,537 11,058,500 yes10,417,1450(207,963)21 2031317,232 11,530,122 2.8%666,758 11,445,584 317,232 224,910 ‐ ‐ 224,910 224,910 11,530,122 11,058,500 yes11,096,7300471,62222 2032337,235 12,210,832 2.8%666,758 12,112,341 337,235 226,034 ‐ ‐ 226,034 226,034 12,210,832 11,058,500 yes11,777,4390 1,152,33223 2033357,237 12,892,671 2.8%666,758 12,779,099 357,237 227,164 ‐ ‐ 227,164 227,164 12,892,671 11,058,500 yes12,459,2790 1,834,17124 2034377,240 13,575,647 2.8%666,758 13,445,857 377,240 228,300 ‐ ‐ 228,300 228,300 13,575,647 11,058,500 yes13,142,2540 2,517,14725 2035397,243 14,259,764 2.8%666,758 14,112,615 397,243 229,442 ‐ ‐ 229,442 229,442 14,259,764 11,058,500 yes13,826,3710 3,201,26426 2036417,245 14,945,028 2.8%666,758 14,779,372 417,245 230,589 ‐ ‐ 230,589 230,589 14,945,028 11,058,500 yes14,511,6350 3,886,528ADMINISTRATIVE EXPENSE TESTADMINISTRATIVE EXPENSE CALCULATIONPOOLING CALCULATION (25% Outside of District)Accummulated Totals Tax Increment25% for Qualified CostsAvailable for PoolingEXCESS INCREMENT Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 115 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 115 ELLIPSE ON EXCELSIOR CONTINUED Maximum amount 1,230,000$ Interest Rate6.00%Note Issue Date 8/1/2011Final Payment 2/1/2025Total Tax Tax Increment Tax Increment Accrued CumulativeIncrement Available at For Note Principle Interest Tax IncrementAvailable 95.00% 86.00% Paid Paid PaidYear2/1/201624,168.94 161,056.57 153,003.74 131,583.22 107,414.28 - 826,596.28 698,216.92$ 5.58/1/201620,946.51 172,483.44 147,473.34 126,827.07 105,880.56 - 953,423.35 592,336.35$ 62/1/201717,770.09 172,483.43 146,610.91 126,085.39 108,315.30 - 1,079,508.74 484,021.06$ 6.58/1/201714,520.63 207,984.53 177,826.77 152,931.02 138,410.39 - 1,232,439.76 345,610.66$ 72/1/201810,368.32 207,984.53 252,880.44 217,477.18 207,108.86 - 1,449,916.94 138,501.80$ 7.58/1/20184,155.05 211,774.64 201,185.91 142,656.85 138,501.80 - 1,592,573.80 0.00$ 8TOTAL362,573.80 1,592,573.80 1,230,000.00 City of St. Louis ParkEconomic Development AuthorityEllipse on Excelsior - County TIF District 1315Note ADate Interest DueNote BalanceStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 116 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 116 ELLIPSE ON EXCELSIOR CONTINUED Maximum amount 220,000$ Interest Rate 6.00%Note Issue Date 8/1/2011Final Payment 2/1/2025Total Tax Tax Increment Tax Increment Accrued CumulativeIncrement Available at For Note Principle Interest Tax IncrementAvailable 95.00% 14.00% Paid Paid PaidYear220,000.00$ 8/1/2011 - 5,287.20 5,022.84 703.20 703.20 703.20 219,296.80$ 12/1/20126,725.10 5,287.20 5,022.84 703.20 - 1,406.40 219,296.80$ 1.58/1/20126,652.00 99,657.40 94,674.53 13,254.43 580.53 6,021.90 14,660.83 218,716.28$ 22/1/20136,707.30 99,657.40 94,674.53 13,254.43 6,547.14 - 27,915.26 212,169.14$ 2.58/1/20136,400.44 108,110.54 102,705.02 14,378.70 7,978.27 - 42,293.97 204,190.87$ 32/1/20146,261.85 108,110.56 102,705.03 14,378.70 8,116.85 - 56,672.67 196,074.02$ 3.58/1/20145,914.90 130,576.29 124,047.48 17,366.65 11,451.75 - 74,039.32 184,622.28$ 42/1/20155,538.67 132,946.02 126,298.72 17,681.82 12,143.15 - 91,721.14 172,479.12$ 4.58/1/20155,174.37 161,056.57 153,003.74 21,420.52 16,246.15 - 113,141.66 156,232.97$ 52/1/20164,686.99 161,056.57 153,003.74 21,420.52 16,733.53 - 134,562.18 139,499.44$ 5.58/1/20164,184.98 172,483.44 147,473.34 20,646.27 16,461.28 - 155,208.45 123,038.15$ 62/1/20173,691.14 172,483.43 146,610.91 20,525.53 16,834.38 - 175,733.98 106,203.77$ 6.58/1/20173,186.11 207,984.53 177,826.77 24,895.75 21,709.64 - 200,629.73 84,494.14$ 72/1/20182,534.82 207,984.53 252,880.44 35,403.26 32,868.44 - 236,032.99 51,625.70$ 7.58/1/20181,548.77 211,774.64 201,185.91 53,174.47 51,625.70 - 289,207.46 (0.00)$ 8TOTAL69,207.46 289,207.46 220,000.00 City of St. Louis ParkEconomic Development AuthorityEllipse on Excelsior - County TIF District 1315Note BDate Interest DueNote BalanceStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 117 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 117 ELLIPSE ON EXCELSIOR CONTINUED Maximum amount 686,195$ Interest RateNote Issue Date 8/1/2015Final Payment 8/1/2022Total Tax Tax Increment CumulativeIncrement Available at Principle Tax IncrementAvailable 95.00% Paid PaidYear686,195.00$ 8/1/2015 - 62,168.62 59,060.19 59,060.19 59,060.19 627,134.81$ 12/1/2016 17,559.77 62,168.62 59,060.19 41,500.42 118,120.38 585,634.39$ 1.58/1/2016 16,397.76 66,062.99 62,759.84 46,362.08 180,880.22 539,272.31$ 22/1/2017 15,099.62 66,062.99 62,759.84 47,660.22 243,640.06 491,612.10$ 2.58/1/2017 13,765.14 79,693.28 75,708.62 61,943.48 319,348.68 429,668.62$ 32/1/2018 12,030.72 79,693.28 75,708.62 63,677.89 395,057.30 365,990.73$ 3.58/1/2018 10,247.74 81,640.46 77,558.44 67,310.70 472,615.73 298,680.03$ 42/1/20198,363.04 81,640.46 77,558.44 69,195.40 550,174.17 229,484.63$ 4.58/1/20196,425.57 81,640.46 79,741.23 73,315.66 629,915.40 156,168.97$ 52/1/20204,372.73 81,640.46 79,741.23 75,368.50 709,656.63 80,800.47$ 5.58/1/20202,262.41 81,640.46 79,741.23 77,478.82 789,397.86 3,321.66$ 62/1/202193.01 81,640.46 79,741.23 3,321.66 869,139.09 (0.00)$ 6.5TOTAL106,617.52 869,139.09 686,195.00 City of St. Louis ParkEconomic Development AuthorityEllipse on Excelsior - County TIF District 1315E2Date Interest DueNote Balance Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 118 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 118 HARDCOAT Description: Hardcoat (County #1316) is an economic development district that was established on December 20, 2010. Originally the district encompassed two (2) parcels of land and was established to facilitate the redevelopment of the former Flame Metals building. The City provided them a $500,000 grant through the Construction Assistance Program (CAP). Hardcoat renovated the building and site and relocated its operations there. The existing industrial building is approximately 33,600 square feet and was constructed in 1963. Both the interior and exterior had numerous building code deficiencies. Following Flame Metals’ departure in 2009, the building’s interior was emptied, thoroughly cleaned, repainted, and code deficiencies were addressed. Nearly all the building’s operating systems were removed. The project included a complete renovation of both the interior and exterior of the building as well as the addition of approximately 1,500 square feet of office/conference space on the north side of the building. Renovations included a new roof, new exterior facelift, new windows and dock doors, new offices and interior spaces, new electrical and plumbing systems, new energy efficient HVAC equipment, new parking lot and landscaping, rain gardens and site amenities, as well as the construction of a 1,500 SF addition for office/conference space. Hardcoat occupies approximately 25,000 square feet of the building. Adopted……………..….… 12/20/2010 Requested Date………..… 04/20/2011 Certified Date……………. . 04/27/2011 First Increment………………… 7/2014 Decertifies……………….... 12/31/2022 Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 119 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 119 Former and Current PID Numbers: Fiscal Disparities Election: The City elected to calculate fiscal disparities from inside (B election) the district. Frozen Tax Rate: 121.8240% Obligations: There is one interfund loan as follows:  $500,000 Interfund Loan payable from the Hardcoat TIF district adopted on EDA Res10-24 on January 26, 2011. This Loan carries a 4% interest rate and is paid from 100% of the available increment generated by Hardcoat. The loan was structured so that $420,000 was authorized for construction costs and the remaining $80,000 was authorized for administrative costs. The actual amount that was loaned from Victoria Ponds was $115,000 for construction and $32,575 was loaned from the EDA for administrative costs. The EDA loan was repaid and a total of $78,800 was outstanding at year end 2018. It is anticipated that this loan will be repaid in full by year end 2022. Other Development Agreement Compliance: 1. Minimum Assessment Agreement. The minimum market value as of January 2, 2013 shall be $2,400,000. The Assessment Agreement shall be in place until the Interfund Loan is paid in full or the TIF District terminates, whichever is sooner. Four Year Rule: MN Statute 469.176 sub 6 requires that, within four years from certification date, certain activities must have taken place on each parcel within the TIF district. Required activities include demolition, rehabilitation, renovation and site improvements. The State Legislature amended the four-year rule limit to increase it to six years for districts certified after January 1, 2005 and before April 20, 2009. The Hardcoat District does not fit this timeline and its four-year rule is April 2015. Since qualifying redevelopment activities happened prior to this date, the four-year rule has been satisfied. Former PIDFormer UseNew PIDNew Use20-117-21-21-0093 Flame Metals Same as Original17-117-21-34-0027 Flame Metals Same as OriginalHardcoatStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 120 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 120 Five Year Rule: At least 80% of tax increment revenues generated within the district must be used to pay for qualified costs within the district. The State Legislature amended the five-year rule limit to increase it to ten years for Redevelopment or Renewal and Renovation districts certified after June 30, 2003 and before April 20, 2009. The Hardcoat District does not fit this timeline and its five-year rule is 2016. Since the EDA has entered into contracts and obligated TIF dollars, the Five-Year rule has been satisfied. Geographic Enlargements: MN Statute 469.175 sub 4 (f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. The district may not be enlarged after 2016. Recommendations: 1. Payment of Administrative Costs. The District is currently over the admin limit. We would recommend that no further admin be charged to this District. The admin limit should fall into line with statutory limits by the expected duration. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 121 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 121 HARDCOAT CONTINUED City of St. Louis ParkHardcoatORIGINALHSS Geo. EnlargementInterest Income 0.50% 1) Limited Pooling options availableDistrict TypeEconomic DevelopmentAdmin Expense0.00%2) Budget Mod: Not Recommended at this timeProject Area3) Admin. Expense is currently:18.0%Over LimitFiscal DisparitiesB ElectionCounty Number1316Frozen RateUTA #1 121.824% 0.000% 0.000%UTA #2 0.000%UTA #3 0.000%Current Year 2019First ReceiptCity Approved Cert Request Certified Legal Term Expected Term Tax Increment Interest Income TOTAL REVENUESProjectPaygo Interfund LoanAdmin Expense County Admin Outside District Other Expense TOTAL EXPENSEOriginal Budget2014 12/20/2010 4/20/2011 4/27/2011 12/31/2022 12/31/2022‐ ‐ ‐ Cumulative Modified326,186 50,000 376,186 317,861 20,706 37,619 376,186 376,186 End of District Projected Actual Total198,865 640 199,505 115,000 ‐ 18,729 3,865 ‐ ‐ 166,771 137,594 Under / (Over) Budget127,321 49,360 176,681 202,861 20,706 18,890 (3,865) ‐ ‐ 209,415 238,592 Year Base Current Fiscal Disparities Captured Tax Increment Interest Income TOTAL REVENUESProjectPaygo Interfund LoanAdmin Expense County Admin Outside DistrictIncrement ReturnedTOTAL EXPENSE4 201722,194 47,250 8,169 16,887 124.745%20,498 54 20,552 ‐ 4,600 7 556 ‐ ‐ 5,163 (72,788) 5 201822,194 51,564 10,056 19,314 130.191%23,444 513 23,957 ‐ 3,992 ‐ ‐ 3,992 (52,823) 6 201922,194 51,564 9,744 19,626 125.012%23,823 23,823 ‐ 3,152 556 ‐ ‐ 3,708 (32,707) 7 202022,194 51,564 9,744 19,626 125.012%23,823 23,823 ‐ 2,325 556 ‐ ‐ 2,881 (11,765) 8 202122,194 51,564 9,744 19,626 125.012% 23,823 23,823 ‐ 1,465 556 ‐ ‐ 2,021 10,037 9 2022 22,194 51,564 9,744 19,626 125.012% 23,823 23,823 ‐ 571 556 ‐ ‐ 1,127 32,734 198,865 640 199,505 115,000 ‐ 29,177 18,729 3,865 ‐ ‐ 166,771 DISTRICT INFORMATIONASSUMPTIONSRECOMMENDATIONSTIF YearTAX CAPACITYCurrent Local Tax RateRevenuesExpendituresEnding BalanceCASH FLOW PROJECTIONS ROLL UPTIF PLAN BUDGET ANALYSISDecertifiesRevenuesExpendituresTotal BudgetID Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 122 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 122 HARDCOAT CONTINUED City of St. Louis ParkHardcoatPursuant to M.S. 469.176 Subd. 3:Admin limit is based on: RevenuesRevenuesEst expend 338,567 33,856.7 Actual expend 148,042 14,804.20 TEST 1:Admin per TIF Plan $37,619Actual TIF 198,865 19,886.48 NTEST 2:Estimated TIF Admin Allowable (10%) $32,619Estimated Total TIF Revenues per TIF Plan$326,186NTEST 3:Cumulative TIF Admin Allowable (10%) $19,886Pursuant to M.S. 469.1763 Subd. 2:Total TIF Revenues for the Project$198,865YDistrict Type:Economic DevelopmentDoes this section apply?YesRESULTS:Cumulative TIF Admin Allowable (10%) $19,886Certification Request Date: 4/20/2011Actual Admin Expenses $18,729 Does TIF Plan Specify Assisting Housing Outside Project Area? NoAvailable Admin $1,157If so, What is the Additional % Allowed in TIF Plan (Up to 10%): 0%Actual Percentage9.4%Total Pooling %: 20%TIF Year Year Admin. Expenses Total % Allowable Current Year Cummulative Admin Costs Spent Outside CumulativeIncrement GeneratedCosts Authorized Required?Increment returned Net RetainedP&I Due after year end Excess (Not Excess)4 201718,729 80,255 23.3%20,498 80,128 18,729 (2,703) ‐ ‐ (72,788) 80,255 376,186 no00(295,931)5 201818,729 104,212 18.0%23,444 103,572 18,729 1,985 ‐ ‐ (52,823) 104,212 376,186 no00(271,974)6 201918,729 128,035 14.6%23,823 127,395 18,729 6,750 ‐ ‐ (32,707) 128,035 376,186 no00(248,151)7 202018,729 151,859 12.3%23,823 151,219 18,729 11,515 ‐ ‐ (11,765) 151,859 376,186 no00(224,327)8 202118,729 175,682 10.7%23,823 175,042 18,729 16,279 ‐ ‐ 10,037 175,682 376,186 no00(200,504)9202218,729 199,505 9.4%23,823 198,865 18,729 21,044 ‐ ‐ 21,044 199,505 376,186 no00(176,681)EXCESS INCREMENTADMINISTRATIVE EXPENSE CALCULATION POOLING CALCULATION (20% Outside of District)Tax Increment20% for Qualified CostsAvailable for PoolingADMINISTRATIVE EXPENSE TESTAccummulated Totals Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 123 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 123 HARDCOAT CONTINUED Maximum amount 115,000.00$ Interest Rate 4.00%Note Issued Date 1/26/2011Final Payment 12/31/2022Total Tax Tax Increment CumulativeIncrement Available at Tax Increment AdditionalAvailable 100.00%PaidPrincipal115,000.00$ 12/31/2011- 115,000.00$ 12/31/2012- - 115,000.00$ 12/31/2013- - 115,000.00$ 12/31/201419,706.00 - 115,000.00$ 12/31/20154,600.00 19,176.00 - 119,600.00$ 12/31/20164,600.00 4,400.00 4,400.00 4,400.00 115,200.00$ 12/31/20174,600.00 20,000.00 20,000.00 24,400.00 99,800.00$ 12/31/20183,992.00 25,000.00 25,000.00 49,400.00 78,792.00$ 12/31/20193,151.68 23,823.11 23,823.11 73,223.11 58,120.57$ 12/31/20202,324.82 23,823.11 23,823.11 97,046.21 36,622.29$ 12/31/20211,464.89 23,823.11 23,823.11 120,869.32 14,264.08$ 12/31/2022570.56 23,823.11 14,834.64 135,703.96 0.00$ TOTAL25,303.96 183,574.42 135,703.96 City of St. Louis ParkEconomic Development AuthorityPrincipal Ledger - Hardcoat IFLDateInterest DueNote Balance Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 124 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 124 ELIOT PARK Description: Eliot Park (County #1318/1319) is redevelopment district that was established on July 16, 2013. Originally the district encompassed two (2) parcels of land and was established to facilitate the redevelopment of the former Eliot School building into 138 market rate apartments and two (2) single-family homes. The EDA is required to issue the Developer a $1,100,000 PAYGO TIF Note at 5.5% interest, to reimburse them for qualified redevelopment costs. On July 1, 2014, the EDA entered into a development Agreement with Cedar Lake Road Apartments LLC. The project began construction in 2014 and opened as the Siena Apartment Homes in July 2015. Subsequently two single family homes were constructed on the property as required under the extended redevelopment contract. Adopted……………..…..…. 05/06/2013 Requested Date…………….06/28/2013 Certified Date………..….…. 07/16/2013 First Increment………..…..……07/2016 Decertifies………………….. 12/31/2041 Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 125 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 125 Former and Current PID Numbers: Property Address Former PID # Former Use New PID #'sNew Use6720 Cedar Lake Road 08-117-21-11-0079Vacant lot 08-117-21-11-0094 Vacant08-117-21-12-0149Siena Apartment Homes08-117-21-12-0150Single Family Lot08-117-21-12-0151Single Family Lot6800 Cedar Lake Road 08-117-21-12-0028Eliot School Fiscal Disparities Election: The City elected to calculate fiscal disparities from inside (B election) the district. Frozen Tax Rate: 1318 – 132.209% 1319 - 133.134% Allowable Uses: MN Statute 469.176 sub 4j specifies the activities on which tax increment from a redevelopment district may be spent. In general, tax increment must be spent on correcting those conditions which caused the area to be designated a redevelopment district. Allowable uses include property acquisition, demolition, rehabilitation, installation of public utilities, road, sidewalks, public parking facilities, and allowable administrative expenses. Obligations: There is currently one PAYGO Note in this district as follows:  $1,100,000 at 5.50% interest. The note was issued on July 25, 2016, payable from August 1, 2016 through February 1, 2021. Other Development Agreement Compliance: 1. Look Back . Within 60 days after the earliest of (i) stabilization (93% of the rental units are leased); (2) sale of property or; (3) three years after the issuance of the CO, the developer will provide the City the financial data to calculate the actual rate of return to the developer. If, based on such review, the actual profit for the developer exceeds an 18% internal rate of return (IRR), then 50% of the excess percentage of the profit will be applied as prepayment of the outstanding principal amount of the TIF Note. The lookback was completed in July 2016 and the IRR was only 14.18%. Therefore, there was no reduction in the amount of the TIF note. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 126 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 126 2. Minimum Assessment Agreement. The minimum market value as of January 2, 2016, shall be $17,250,000 for the apartments and $250,000 for each single-family home. The Assessment Agreement shall be in place until the TIF Note is paid in full or the TIF District terminates, whichever is sooner. Four Year Rule: MN Statute 469.176 sub 6 requires that, within four years from certification date, certain activities must have taken place on each parcel within the TIF district. Required activities include demolition, rehabilitation, renovation and site improvements. The State Legislature amended the four-year rule limit to increase it to six years for districts certified after January 1, 2005 and before April 20, 2009. The Eliot Park district does not fit this timeline and its four-year rule was July 2017. Since redevelopment has been completed, the four-year rule has been met. Five Year Rule: At least 75% of tax increment revenues generated within the district must be used to pay for qualified costs within the district. The State Legislature amended the five-year rule limit to increase it to ten years for Redevelopment or Renewal and Renovation districts certified after June 30, 2003 and before April 20, 2009. The Eliot Park district does not fit this timeline and its five-year rule was July 2018. Since the EDA has entered into contracts and obligated TIF dollars, the Five-Year rule has been satisfied. Geographic Enlargements: MN Statute 469.175 sub 4 (f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. The district may not be enlarged after July 2014. Recommendations: 1. Use of Future TIF After Obligation is Repaid. The TIF Note for this District will be paid off on August 1, 2020. Currently there is approximately cash balance $47,127 in the District for use on redevelopment projects, which represents the actual cash balance at September 30, 2019 after the obligations were paid. It is estimated that there will be approximately $374,300 available for pooling for qualified redevelopment costs when the obligations are paid. We recommend that the City/EDA modify the budget of the District to allow for an additional 10% pooling for affordable housing. This would allow approximately $1.8M to be used for affordable housing. Further, we would recommend a 6 Year Rule analysis be completed for the District if the budget is modified to allow for additional affordable housing. The City should ensure compliance with the restrictions for In District use. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 127 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 127 ELLIOT PARK CONTINUED City of St. Louis ParkElliot ParkORIGINALHSS Geo. EnlargementInterest Income 0.50% 1) Limited Pooling options availableDistrict TypeRedevelopmentAdmin Expense3.00%2) Budget Mod: Not Recommended at this timeProject Area3) Admin. Expense is currently: for year 20194.4%At or Under LimitFiscal DisparitiesB ElectionCounty Number1318, 1319Frozen RateUTA #1 132.209% 0.000% 0.000%UTA #2 133.134%UTA #3 0.000%Current Year 2019First ReceiptCity Approved Cert Request Certified Legal Term Expected Term Tax Increment Interest IncomeRTOTAL REVENUESProject Interest Expense Interfund LoanAdmin Expense County Admin Outside District Other Expense TOTAL EXPENSEOriginal Budget2015 5/6/2013 6/28/2013 7/16/2013 12/31/2041 12/31/2041‐ ‐ ‐ Cumulative Modified9,825,365 982,537 10,807,902 5,404,624 4,420,741 982,537 10,807,902 10,807,902 End of District Projected Actual Total451,585 4,311 3,124,263 ‐ ‐ ‐ 13,548 616 ‐ 293,530 2,262,031 307,694 Under / (Over) Budget9,373,780 978,226 7,683,639 5,404,624 4,420,741 ‐ 968,989 (616) ‐ (293,530) 8,545,871 10,500,208 Year Base Current Fiscal Disparities Captured Tax Increment Interest IncomeRTOTAL REVENUESProject Paygo Interfund LoanAdmin Expense County Admin Outside DistrictIncrement ReturnedTOTAL EXPENSE020150.000%‐ 539 17,819 1,041 ‐ ‐ 19,399 (19,399) 12016‐ 52,201 ‐ 52,201 128.561% 65,244 65,244 30,424 734 10,093 616 ‐ ‐ 41,867 3,978 2 2017 26,433 303,473 ‐ 277,040 124.745% 343,232 58 343,290 ‐ 195,168 734 4,714 982 ‐ ‐ 201,598 145,670 3 2018 26,433 372,164 ‐ 345,731 130.191% 445,675 617 446,292 ‐ 350,721 734 5,323 1,104 ‐ ‐ 357,882 234,080 4 201926,433 391,004 ‐ 364,571 125.012%451,585 1,170 452,755 ‐ 309,043 ‐ 13,548 616 ‐ ‐ 323,206 363,629 5 202026,433 391,004 ‐ 364,571 125.012%451,585 1,818 453,403 ‐ 380,833 ‐ 13,548 616 ‐ ‐ 394,997 422,035 6 202126,433 391,004 ‐ 364,571 125.012%451,585 2,110 453,695 ‐ ‐ 13,548 616 ‐ 293,530 307,694 568,036 7 202226,433 391,004 ‐ 364,571 125.012%451,585 2,840 454,425 ‐ 13,548 616 ‐ 293,530 307,694 714,768 8 202326,433 391,004 ‐ 364,571 125.012%451,585 3,574 455,159 ‐ 13,548 616 ‐ 293,530 307,694 862,233 9 202426,433 391,004 ‐ 364,571 125.012%451,585 4,311 455,896 ‐ 13,548 616 ‐ 293,530 307,694 1,010,435 10 202526,433 391,004 ‐ 364,571 125.012%451,585 5,052 456,637 ‐ 13,548 616 ‐ 293,530 307,694 1,159,378 11 202626,433 391,004 ‐ 364,571 125.012%451,585 5,797 457,382 ‐ 13,548 616 ‐ 293,530 307,694 1,309,066 12 202726,433 391,004 ‐ 364,571 125.012%451,585 6,545 458,130 ‐ 13,548 616 ‐ 293,530 307,694 1,459,503 13 202826,433 391,004 ‐ 364,571 125.012%451,585 7,298 458,882 ‐ 13,548 616 ‐ 293,530 307,694 1,610,692 14 202926,433 391,004 ‐ 364,571 125.012%451,585 8,053 459,638 ‐ 13,548 616 ‐ 293,530 307,694 1,762,636 15 203026,433 391,004 ‐ 364,571 125.012%451,585 8,813 460,398 ‐ 13,548 616 ‐ 293,530 307,694 1,915,340 16 203126,433 391,004 ‐ 364,571 125.012%451,585 9,577 461,162 ‐ 13,548 616 ‐ 293,530 307,694 2,068,808 17 203226,433 391,004 ‐ 364,571 125.012%451,585 10,344 461,929 ‐ 13,548 616 ‐ 293,530 307,694 2,223,044 DISTRICT INFORMATIONASSUMPTIONSRECOMMENDATIONSTIF YearTAX CAPACITYCurrent Local Tax RateRevenuesExpendituresEnding BalanceCASH FLOW PROJECTIONS ROLL UPTIF PLAN BUDGET ANALYSISDecertifiesRevenuesExpendituresTotal BudgetIDStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 128 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 128 ELIOT PARK CONTINUED City of St. Louis ParkElliot ParkPursuant to M.S. 469.176 Subd. 3:Admin limit is based on: RevenuesRevenuesEst expend 9,825,365 982,536.5 Actual expend 2,248,483 224,848.30 TEST 1:Admin per TIF Plan $982,537Actual TIF 451,585 45,158.49 NTEST 2:Estimated TIF Admin Allowable (10%) $982,537Estimated Total TIF Revenues per TIF Plan$9,825,365NTEST 3:Cumulative TIF Admin Allowable (10%) $45,158Pursuant to M.S. 469.1763 Subd. 2:Total TIF Revenues for the Project$451,585YDistrict Type:RedevelopmentDoes this section apply?YesRESULTS:Cumulative TIF Admin Allowable (10%) $45,158Certification Request Date: 6/28/2013Actual Admin Expenses$13,548 Does TIF Plan Specify Assisting Housing Outside Project Area?YesAvailable Admin$31,610If so, What is the Additional % Allowed in TIF Plan (Up to 10%):10%Actual Percentage3.0%Total Pooling %:25%TIF Year Year Admin. Expenses Total % Allowable Current Year Cummulative Admin CostsSpent Outside Cumulative25% Pooling for Redevelopment10% Pooling for HousingIncrement GeneratedCosts Authorized Required?Increment returned Net RetainedP&I Due after year end Excess (Not Excess)0 201517,819 ‐ #DIV/0!‐ ‐ 17,819 (17,819) ‐ ‐ (19,399) 0 10,807,902 no00(10,807,902)1 201627,912 65,244 42.8%65,244 65,244 27,912 (11,601) ‐ ‐ (11,601) 65,244 10,807,902 no00(10,742,658)2 201732,626 408,534 8.0%343,232 408,476 32,626 69,493 ‐ ‐ 69,493 408,534 10,807,902 no00(10,399,368)3 201837,949 854,826 4.4%445,675 854,151 37,949 175,589 ‐ ‐ 175,589 854,826 10,807,902 no00(9,953,076)4 201951,497 1,307,581 3.9%451,585 1,305,736 51,497 274,937 ‐ ‐ 274,937 1,307,581 10,807,902 no00(9,500,321)5 202065,044 1,760,984 3.7%451,585 1,757,321 65,044 374,286 ‐ ‐ 374,286 374,286 1,760,984 10,807,902 no00(9,046,918)6 202178,592 2,214,679 3.5%451,585 2,208,906 78,592 146,001 ‐ ‐ 146,001 146,001 2,214,679 10,807,902 no00(8,593,223)7 202292,139 2,669,104 3.5%451,585 2,660,491 92,139 146,731 ‐ ‐ 146,731 146,731 2,669,104 10,807,902 no00(8,138,798)8 2023105,687 3,124,263 3.4%451,585 3,112,075 105,687 147,465 ‐ ‐ 147,465 147,465 3,124,263 10,807,902 no00(7,683,639)9 2024119,234 3,580,159 3.3%451,585 3,563,660 119,234 148,202 ‐ ‐ 148,202 148,202 3,580,159 10,807,902 no00(7,227,743)10 2025132,782 4,036,796 3.3%451,585 4,015,245 132,782 148,943 ‐ ‐ 148,943 148,943 4,036,796 10,807,902 no00(6,771,106)11 2026146,329 4,494,178 3.3%451,585 4,466,830 146,329 149,688 ‐ ‐ 149,688 149,688 4,494,178 10,807,902 no00(6,313,724)12 2027159,877 4,952,308 3.2%451,585 4,918,415 159,877 150,436 ‐ ‐ 150,436 150,436 4,952,308 10,807,902 no00(5,855,594)13 2028173,424 5,411,191 3.2%451,585 5,370,000 173,424 151,189 ‐ ‐ 151,189 151,189 5,411,191 10,807,902 no00(5,396,711)14 2029186,972 5,870,829 3.2%451,585 5,821,585 186,972 151,945 ‐ ‐ 151,945 151,945 5,870,829 10,807,902 no00(4,937,073)15 2030200,520 6,331,227 3.2%451,585 6,273,170 200,520 152,704 ‐ ‐ 152,704 152,704 6,331,227 10,807,902 no00(4,476,675)16 2031214,067 6,792,389 3.2%451,585 6,724,754 214,067 153,468 ‐ ‐ 153,468 153,468 6,792,389 10,807,902 no00(4,015,513)17 2032227,615 7,254,318 3.1%451,585 7,176,339 227,615 154,235 ‐ ‐ 154,235 154,235 7,254,318 10,807,902 no00(3,553,584)EXCESS INCREMENTADMINISTRATIVE EXPENSE CALCULATIONPOOLING CALCULATION (25% Outside of District)Tax Increment25% for Qualified CostsAvailable for PoolingADMINISTRATIVE EXPENSE TESTAccummulated Totals Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 129 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 129 ELIOT PARK CONTINUED Maximum amount 1,100,000$ Interest Rate 5.50%Note Issue Date 5/18/2016Final Payment 2/1/2021Total Tax Tax Increment CumulativeIncrement Available at Principle Tax IncrementAvailable 95.00%PaidPaidYear5/18/2016 - - - - - 1,100,000.00$ 08/1/2016 12,604.17 32,025.47 30,424.20 17,820.03 30,424.20 1,082,179.97$ 0.52/1/2017 29,759.95 33,218.17 31,557.26 1,797.31 61,981.46 1,080,382.66$ 18/1/2017 29,710.52 172,221.71 163,610.62 133,900.10 225,592.08 946,482.56$ 1.52/1/2018 26,028.27 171,011.25 162,460.69 136,432.42 388,052.77 810,050.14$ 28/1/2018 22,276.38 199,402.68 188,260.54 165,984.16 576,313.31 644,065.98$ 2.52/1/2019 17,711.81 199,402.68 189,432.55 171,720.73 765,745.86 472,345.25$ 38/1/2019 12,989.49 125,905.51 119,610.23 106,620.74 885,356.09 365,724.51$ 3.52/1/2020 10,057.42 202,203.36 192,093.19 182,035.77 1,077,449.28 183,688.74$ 48/1/2020 5,051.44 202,203.36 188,740.18 183,688.74 1,266,189.46 (0.00)$ 4.5TOTAL166,189.46 1,266,189.46 1,100,000.00 City of St. Louis ParkEliot ParkDate Interest DueNote Balance Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 130 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 130 THE SHOREHAM Description: The Shoreham (County #1320) is a redevelopment district that was adopted on August 17, 2015. The district encompasses five (5) parcels of land and was established to facilitate the redevelopment of the properties into 148 apartments and 20,000 sq/ft of retail/office. The Redeveloper agreed to reserve 20% of the apartment units for households earning 50% of Area Median Income (AMI) for at least 15 years following building occupancy. For the next 10 years, Redeveloper agreed to reserve at least 10% of the apartment units for households earning 60% of AMI or at least 8% of the apartment units for households earning 50% of AMI. The EDA is required to issue the Developer a $1,200,000 PAYGO TIF Note at 3.75% interest, to reimburse them for qualified redevelopment costs. On August 17, 2015, the EDA approved a development Agreement with Shoreham Apartments LLC. The project was awarded grants from the following agencies and in the following amounts: DEED: $625,075 Hennepin County: $430,000 Hennepin County: $200,000 Met Council: $594,000 On November 16, 2015 the EDA entered into a first amendment to the contract to clarify the amounts and purposes of the County Grants. The project began construction in late 2015. In 2019 the required lookback was completed, and it was determined that no reduction in principal amount of the TIF Note was warranted. Adopted……………..…….…...8/17/2015 Requested Date……………..11/16/2015 Certified Date………..……… 4/18/2016 First Increment………..….....…..07/2018 Decertifies……………..……12/31/2043 Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 131 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 131 Former and Current PID Numbers: Property Address Former PID # Former UseNew PID #'sNew Use3915 Hwy 706-028-24-11-0007Commercial3907 Hwy 706-028-24-11-0056Commercial3031 Glenhurst Ave06-028-24-11-0016Single-Family Rental3918 31st St W06-028-24-11-0015Single-Family Rental3914 31st St W06-028-24-11-0014Single-Family 06-028-24-11-0111Mixed Use (Apartment over Office) Fiscal Disparities Election: The City elected to calculate fiscal disparities from inside (B election) the district. Frozen Tax Rate: 128.260% Allowable Uses: MN Statute 469.176 sub 4j specifies the activities on which tax increment from a redevelopment district may be spent. In general, tax increment must be spent on correcting those conditions which caused the area to be designated a redevelopment district. Allowable uses include property acquisition, demolition, rehabilitation, installation of public utilities, road, sidewalks, public parking facilities, and allowable administrative expenses. Obligations: There is currently one PAYGO Note, yet to be issued, in this district as follows:  $1,200,000 at 3.75% interest. The Note was issued on May 14, 2019, payable from August 1, 2020 through February 1, 2024. Other Development Agreement Compliance: 1. Look Back . Within 60 days after the earliest of (i) stabilization (93% of the rental units are leased); (2) sale of property or; (3) three years after the issuance of the CO, the developer will provide the City the financial data to calculate the actual rate of return to the developer. If, based on such review, the actual profit for the developer exceeds an 18% internal rate of return (IRR), then 50% of the excess percentage of the Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 132 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 132 profit will be applied as prepayment of the outstanding principal amount of the TIF Note. This was completed in 2019 and the threshold was not met, therefore no reduction in assistance is warranted. 2. Minimum Assessment Agreement. The minimum market value as of January 2, 2017 shall be $27,421,000 and $32,260,000 as of January 2, 2018. The Assessment Agreement shall be in place until the TIF Note is paid in full or the TIF District terminates, whichever is sooner. 3. Inclusionary Housing. The Redeveloper agrees to reserve at least 20% of the units for household earning 50% of the Area Median Income (AMI) for at least 15 years following building occupancy. For the next 10 years, the Redeveloper agrees to reserve at least 10% of the apartments for households earning 60% of the AMI or at least 8% of the units for households earning 50% of the AMI. The monthly rental price shall include rent and utility costs as determined annually by MHFA for the Housing Tax Credit Program. The size and design of these units shall be consistent and comparable with the market rate units and is subject to approval of the City. The units shall be distributed throughout the entire project. The units shall have a number of bedrooms in the approximate proportions of the market rate units. The Redeveloper agrees to prepare an affordable housing plan as required in the City’s Inclusionary Housing Policy. Four Year Rule: MN Statute 469.176 sub 6 requires that, within four years from certification date, certain activities must have taken place on each parcel within the TIF district. Required activities include demolition, rehabilitation, renovation and site improvements. The State Legislature amended the four-year rule limit to increase it to six years for districts certified after January 1, 2005 and before April 20, 2009. The Shoreham district does not fit this timeline and its four-year rule is April 18, 2020. Five Year Rule: At least 75% of tax increment revenues generated within the district must be used to pay for qualified costs within the district. The State Legislature amended the five-year rule limit to increase it to ten years for Redevelopment or Renewal and Renovation districts certified after June 30, 2003 and before April 20, 2009. The Shoreham district does not fit this timeline and its five-year rule is April 18, 2021. Since the EDA has entered into contracts and obligated TIF dollars, the Five-Year rule has been satisfied. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 133 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 133 Geographic Enlargements: MN Statute 469.175 sub 4 (f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. The district may not be enlarged after April 18, 2021. Recommendations: 1. Inclusionary Housing. The Redeveloper agreed to reserve at least 18 of the units for household earning 60% of the Area Median Income for at least 25 years following building occupancy. Since the Certificate of Occupancy has been provided, we recommend that staff reach out to the Developer and let them know that they need to provide the City the necessary compliance information. 2. Use of Future TIF After Obligation is Repaid. The TIF Note for this District will be paid off on February 1, 2021. Currently there is approximately cash balance $46,185 in the District for use on redevelopment projects, which represents the actual cash balance at September 30, 2019 after the obligations were paid. It is estimated that there will be approximately $470,600 available for pooling for qualified redevelopment costs when the obligations are paid. We recommend that the City/EDA modify the budget of the District to allow for an additional 10% pooling for affordable housing. This would allow approximately $4.5M to be used for affordable housing. Further, we would recommend a 6 Year Rule analysis be completed for the District if the budget is modified to allow for additional affordable housing. The City should ensure compliance with the restrictions for In District use. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 134 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 134 THE SHOREHAM CONTINUED City of St. Louis ParkShorehamORIGINALHSS Geo. EnlargementInterest Income 0.50% 1) Limited Pooling options availableDistrict TypeRedevelopment Admin Expense 3.00% 2) Budget Mod: Not Recommended at this timeProject Area3) Admin. Expense is currently:5.8%At or Under LimitFiscal DisparitiesB ElectionCounty Number1320Frozen RateUTA #1 128.260% 0.000% 0.000%UTA #2 0.000%UTA #3 0.000%Current Year 2019First ReceiptCity Approved Cert Request Certified Legal Term Expected Term Tax Increment Interest Income TOTAL REVENUESProjectPaygo Interfund LoanAdmin Expense County Admin Outside District ncrement ReturnedTOTAL EXPENSEOriginal Budget2017 8/17/2015 8/17/2015 4/18/2016 12/31/2043 12/31/2043‐ ‐ ‐ Cumulative Modified12,293,160 1,229,316 13,522,476 8,150,030 4,757,788 614,658 13,522,476 13,522,476 End of District Projected Actual Total15,410,782 338,739 6,455,324 ‐ 1,229,297 2,036 458,743 27,021 ‐ 8,594,143 4,180,406 10,311,240 Under / (Over) Budget(3,117,622) 890,577 7,067,152 8,150,030 3,528,491 (2,036) 155,915 (27,021) ‐ (8,594,143) 9,342,070 3,211,236 Year Base Current Fiscal Disparities Captured Tax Increment Interest Income TOTAL REVENUESProject Paygo Interfund LoanAdmin Expense County Admin Outside DistrictIncrement ReturnedTOTAL EXPENSE201641,112 536,400 12,806 482,482 128.561%‐ ‐ 582 3,121 ‐ ‐ 3,703 (18,242) 201741,112 29,800 ‐ ‐ 124.745%‐ ‐ ‐ 706 514 527 ‐ ‐ 1,747 (19,989) 1 201841,112 342,765 ‐ 301,653 130.191% 386,056 2,262 388,318 ‐ ‐ 748 4,366 1,019 ‐ ‐ 6,133 362,196 2 201941,112 536,400 12,806 482,482 125.012% 600,989 1,811 602,800 ‐ 620,441 18,030 1,019 ‐ ‐ 639,490 325,507 3 202041,112 536,400 12,806 482,482 125.012% 600,989 1,628 602,617 ‐ 507,376 18,030 1,019 ‐ ‐ 526,425 401,698 4 202141,112 536,400 12,806 482,482 125.012% 600,989 2,008 602,998 ‐ 101,480 18,030 1,019 ‐ ‐ 120,529 884,167 5 202241,112 536,400 12,806 482,482 125.012% 600,989 4,421 605,410 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 1,079,885 6 202341,112 536,400 12,806 482,482 125.012% 600,989 5,399 606,388 ‐ 18,030 1,019 ‐ 390,643 409,692 1,276,582 7 2024 41,112 536,400 12,806 482,482 125.012% 600,989 6,383 607,372 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 1,474,263 8 2025 41,112 536,400 12,806 482,482 125.012% 600,989 7,371 608,360 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 1,672,931 9 2026 41,112 536,400 12,806 482,482 125.012% 600,989 8,365 609,354 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 1,872,594 10 202741,112 536,400 12,806 482,482 125.012% 600,989 9,363 610,352 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 2,073,254 11 202841,112 536,400 12,806 482,482 125.012% 600,989 10,366 611,355 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 2,274,918 12 202941,112 536,400 12,806 482,482 125.012% 600,989 11,375 612,364 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 2,477,590 13 203041,112 536,400 12,806 482,482 125.012% 600,989 12,388 613,377 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 2,681,275 14 2031 41,112 536,400 12,806 482,482 125.012% 600,989 13,406 614,395 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 2,885,979 15 203241,112 536,400 12,806 482,482 125.012% 600,989 14,430 615,419 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 3,091,707 16 203341,112 536,400 12,806 482,482 125.012% 600,989 15,459 616,448 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 3,298,463 17 203441,112 536,400 12,806 482,482 125.012% 600,989 16,492 617,481 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 3,506,252 18 203541,112 536,400 12,806 482,482 125.012% 600,989 17,531 618,520 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 3,715,081 19 203641,112 536,400 12,806 482,482 125.012% 600,989 18,575 619,564 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 3,924,954 20 203741,112 536,400 12,806 482,482 125.012% 600,989 19,625 620,614 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 4,135,876 21 203841,112 536,400 12,806 482,482 125.012% 600,989 20,679 621,668 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 4,347,853 22 203941,112 536,400 12,806 482,482 125.012% 600,989 21,739 622,728 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 4,560,890 23 204041,112 536,400 12,806 482,482 125.012% 600,989 22,804 623,793 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 4,774,992 24 204141,112 536,400 12,806 482,482 125.012% 600,989 23,875 624,864 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 4,990,164 25 2042 41,112 536,400 12,806 482,482 125.012% 600,989 24,951 625,940 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 5,206,413 26 2043 41,112 536,400 12,806 482,482 125.012% 600,989 26,032 627,021 ‐ ‐ 18,030 1,019 ‐ 390,643 409,692 5,423,742 DISTRICT INFORMATIONASSUMPTIONSRECOMMENDATIONSTIF YearTAX CAPACITYCurrent Local Tax RateRevenuesExpendituresEnding BalanceCASH FLOW PROJECTIONS ROLL UPTIF PLAN BUDGET ANALYSISDecertifiesRevenuesExpendituresTotal BudgetID Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 135 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 135 THE SHOREHAM CONTINUED City of St. Louis ParkShorehamPursuant to M.S. 469.176 Subd. 3:Admin limit is based on:RevenuesRevenuesEst expend12,907,818 1,290,781.8 Actual expend 3,721,663 372,166.31 TEST 1:Admin per TIF Plan $614,658Actual TIF 15,410,782 1,541,078.15 YTEST 2:Estimated TIF Admin Allowable (10%) $1,229,316Estimated Total TIF Revenues per TIF Plan $12,293,160NTEST 3:Cumulative TIF Admin Allowable (10%) $1,541,078Pursuant to M.S. 469.1763 Subd. 2:Total TIF Revenues for the Project $15,410,782NDistrict Type: RedevelopmentDoes this section apply? YesRESULTS:Admin per TIF Plan $1,229,316Certification Request Date: 8/17/2015Actual Admin Expenses $458,743 Does TIF Plan Specify Assisting Housing Outside Project Area?YesAvailable Admin$155,915If so, What is the Additional % Allowed in TIF Plan (Up to 10%):10%Actual Percentage3.0%Total Pooling %:25%TIF Year Year Admin. Expenses Total % Allowable Current Year Cummulative Admin CostsSpent Outside Cumulative25% Pooling for Redevelopment10% Pooling for HousingIncrement GeneratedCosts Authorized Required?Increment returned Net RetainedP&I Due after year end Excess (Not Excess)0 201617,660 ‐ ‐ ‐ 17,660 (17,660) ‐ ‐ (18,242) 0 13,522,476 no00(13,522,476)0 201718,174 ‐ ‐ ‐ 18,174 (18,174) ‐ ‐ (19,989) 0 13,522,476 no00(13,522,476)1 201822,540 388,318 5.8%386,056 386,056 22,540 73,974 ‐ ‐ 73,974 388,318 13,522,476 no00(13,134,158)2 201940,570 991,118 4.1%600,989 987,045 40,570 206,192 ‐ ‐ 206,192 991,118 13,522,476 no00(12,531,358)3 202058,599 1,593,735 3.7%600,989 1,588,034 58,599 338,409 ‐ ‐ 338,409 1,593,735 13,522,476 no00(11,928,741)4 202176,629 2,196,732 3.5%600,989 2,189,023 76,629 470,627 ‐ ‐ 470,627 470,627 2,196,732 13,522,476 no00(11,325,744)5 202294,659 2,802,142 3.4%600,989 2,790,012 94,659 195,718 ‐ ‐ 195,718 195,718 2,802,142 13,522,476 no00(10,720,334)6 2023112,688 3,408,530 3.3%600,989 3,391,001 112,688 196,697 ‐ ‐ 196,697 196,697 3,408,530 13,522,476 no00(10,113,946)7 2024130,718 4,015,902 3.3%600,989 3,991,990 130,718 197,680 ‐ ‐ 197,680 197,680 4,015,902 13,522,476 no00(9,506,574)8 2025148,748 4,624,263 3.2%600,989 4,592,979 148,748 198,669 ‐ ‐ 198,669 198,669 4,624,263 13,522,476 no00(8,898,213)9 2026166,777 5,233,616 3.2%600,989 5,193,968 166,777 199,662 ‐ ‐ 199,662 199,662 5,233,616 13,522,476 no00(8,288,860)10 2027184,807 5,843,968 3.2%600,989 5,794,957 184,807 200,660 ‐ ‐ 200,660 200,660 5,843,968 13,522,476 no00(7,678,508)11 2028202,837 6,455,324 3.1%600,989 6,395,946 202,837 201,664 ‐ ‐ 201,664 201,664 6,455,324 13,522,476 no00(7,067,152)12 2029220,866 7,067,687 3.1%600,989 6,996,935 220,866 202,672 ‐ ‐ 202,672 202,672 7,067,687 13,522,476 no00(6,454,789)13 2030238,896 7,681,064 3.1%600,989 7,597,924 238,896 203,685 ‐ ‐ 203,685 203,685 7,681,064 13,522,476 no00(5,841,412)14 2031256,926 8,295,460 3.1%600,989 8,198,913 256,926 204,704 ‐ ‐ 204,704 204,704 8,295,460 13,522,476 no00(5,227,016)15 2032274,955 8,910,878 3.1%600,989 8,799,902 274,955 205,727 ‐ ‐ 205,727 205,727 8,910,878 13,522,476 no00(4,611,598)16 2033292,985 9,527,326 3.1%600,989 9,400,891 292,985 206,756 ‐ ‐ 206,756 206,756 9,527,326 13,522,476 no00(3,995,150)17 2034311,015 10,144,807 3.1%600,989 10,001,880 311,015 207,790 ‐ ‐ 207,790 207,790 10,144,807 13,522,476 no00(3,377,669)18 2035329,044 10,763,328 3.1%600,989 10,602,869 329,044 208,829 ‐ ‐ 208,829 208,829 10,763,328 13,522,476 no 0 0(2,759,148)19 2036 347,074 11,382,892 3.0% 600,989 11,203,858 347,074 209,873 ‐ ‐ 209,873 209,873 11,382,892 13,522,476 yes 10,992,249 0(2,139,584)20 2037 365,104 12,003,506 3.0% 600,989 11,804,847 365,104 210,922 ‐ ‐ 210,922 210,922 12,003,506 13,522,476 yes 11,612,863 0(1,518,970)21 2038 383,133 12,625,174 3.0% 600,989 12,405,836 383,133 211,977 ‐ ‐ 211,977 211,977 12,625,174 13,522,476 yes 12,234,531 0(897,302)22 2039 401,163 13,247,903 3.0% 600,989 13,006,825 401,163 213,037 ‐ ‐ 213,037 213,037 13,247,903 13,522,476 yes 12,857,260 0(274,573)23 2040 419,193 13,871,696 3.0% 600,989 13,607,814 419,193 214,102 ‐ ‐ 214,102 214,102 13,871,69613,522,476 yes13,481,0530349,22024 2041437,222 14,496,560 3.0%600,989 14,208,803 437,222 215,172 ‐ ‐ 215,172 215,172 14,496,560 13,522,476 yes14,105,9170974,08425 2042455,252 15,122,500 3.0%600,989 14,809,792 455,252 216,248 ‐ ‐ 216,248 216,248 15,122,500 13,522,476 yes14,731,857 1,229,297370,72726 2043473,282 15,749,521 3.0%600,989 15,410,782 473,282 217,330 ‐ ‐ 217,330 217,330 15,749,521 13,522,476 yes15,358,878 1,229,297997,748EXCESS INCREMENTADMINISTRATIVE EXPENSE CALCULATION POOLING CALCULATION (25% Outside of District)Tax Increment25% for Qualified CostsAvailable for PoolingADMINISTRATIVE EXPENSE TESTAccummulated Totals Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 136 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 136 THE SHOREHAM CONTINUED Maximum amount 1,200,000$ Interest Rate 3.75%Note Issue Date 5/14/2019Final Payment 8/1/2022Total Tax Tax Increment CumulativeIncrement Available at Principle Tax IncrementAvailable 95.00% PaidPaidYear1,200,000.00$ 2/1/2019 - - - - 1,200,000.00$ 1.58/1/2019 9,875.00 653,095.61 620,440.83 610,565.83 620,440.83 589,434.17$ 22/1/2020 11,051.89 267,040.11 253,688.10 242,636.21 874,128.93 346,797.96$ 2.58/1/2020 6,502.46 267,040.11 253,688.10 247,185.64 1,127,817.04 99,612.31$ 32/1/2021 1,867.73 267,040.11 101,480.04 99,612.31 1,229,297.08 0.00$ 3.5TOTAL 29,297.08 1,200,000.00 City of St. Louis ParkEconomic Development AuthorityThe Shoreham - County TIF District 1320Date Interest Due Note Balance Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 137 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 137 4900 EXCELSIOR Description: 4900 Excelsior (County #1321) is a redevelopment district that was adopted on November 16, 2015. The district encompasses two (2) parcels of land (former Bally’s Fitness Center and EDA vacant parcel) and established to facilitate the redevelopment of the properties into 164 apartments and a 28,000 sq/ft grocery store. On December 7, 2015, the EDA approved a development Agreement with 4900 Excelsior Apartments LLC. The Redeveloper agreed to reserve 18 of the residential units for households earning 60% of Area Median Income (AMI) for at least 25 years following building occupancy. The EDA is required to issue the Developer a $2,800,000 PAYGO TIF Note at 4.5% interest, to reimburse them for qualified redevelopment costs. In early March, the lookback was completed for the project and it was determined that no reduction in assistance was warranted. Therefore, on March 5, 2019 the TIF Note was issued and 4900 Excelsior Boulevard project was later renamed 4800 Excelsior. Adopted……………………. 11/16/2015 Requested Date………… 06/16/2016 Certified Date……………... 07/01/2016 First Increment…………….. 07/01/2019 Expected Decertification…..12/31/2024 Decertifies…………………. 12/31/2044 Former and Current PID Numbers: Property Address Former PID # Former UseNew PID #'sNew Use4900 Excelsior Blvd07-028-24-21-0002Bally's Fitness CenterTBD4760 Excelsior Blvd07-028-24-21-0258 Vacant LotTBDMixed-Use Fiscal Disparities Election: The City will elect to calculate fiscal disparities from inside (B election) the district. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 138 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 138 Frozen Tax Rate: 128.561% Obligations: There is one PAYGO Note in this district as follows:  $2,600,000 at 4.50% interest. The Note was issued on March 5, 2019, payable from August 1, 2019 through February 1, 2027. Other Development Agreement Compliance: 1. Look Back . Within 60 days after the earliest of (i) stabilization (93% of the rental units are leased); (2) sale of property or; (3) three years after the issuance of the CO, the developer will provide the City the financial data to calculate the actual rate of return to the developer. If, based on such review, the actual profit for the developer exceeds an 18% internal rate of return (IRR), then 50% of the excess percentage of the profit will be applied as prepayment of the outstanding principal amount of the TIF Note. The lookback was completed in 2019 and the threshold was not met. Therefore, it was determined that no reduction in the principal amount of the TIF Note was warranted. 2. Minimum Assessment Agreement. The minimum market value as of January 2, 2018 shall be $31,680,000. The Assessment Agreement shall be in place until the TIF Note is paid in full or the TIF District terminates, whichever is sooner. 3. Public Art. The Redeveloper shall allocate at least $75,000 for the design and installation of public artwork to be placed in a prominent location on the property. Prior to installation, the design of the public art shall be approved by the EDA, provided that such approval shall not be unreasonably withheld. Installation shall be completed prior to issuance of a Certificate of Completion. 4. Inclusionary Housing. The Redeveloper agrees to reserve at least 18 of the units for household earning 60% of the Area Median Income for at least 25 years following building occupancy. The monthly rental price shall include rent and utility costs as determined annually by MHFA for the Housing Tax Credit Program. The size and design of these units shall be consistent and comparable with the market rate units and is subject to approval of the City. The units shall be distributed throughout the entire project. The units shall have a number of bedrooms in the approximate proportions of the market rate units. The Redeveloper agrees to prepare an affordable housing plan as required in the City’s Inclusionary Housing Policy. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 139 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 139 5. Property Management. The Redeveloper shall cause the project to be professionally managed by a management company with substantial experience in operating mixed-use developments. The selection of the property management company is subject to approval by the EDA, which approval shall not be unreasonably withheld. 6. Special Service District Maintenance. Upon the written request of the EDA, the Redeveloper agrees to file any petition or other document required to enter into the City’s Special Service District No. 3 and to become subject to special service charges levied on all commercial properties in the District. Prior to issuance of a Certificate of Completion, the Redeveloper shall submit to the EDA for review and approval a plan for maintenance and operation of all pedestrian and landscaping improvements located within the property, other than those within the Excelsior Boulevard right-of-way and/or included in the Special Service District. The plan must address at a minimum snow removal from pedestrian connections and sidewalks, maintenance and replacement of landscaping, irrigation and other streetscaping, snow removal and maintenance of any surface parking and maintenance of the public art, a description of how the maintenance costs will be assessed to tenants and enforcement mechanisms. Four Year Rule: MN Statute 469.176 sub 6 requires that, within four years from certification date, certain activities must have taken place on each parcel within the TIF district. Required activities include demolition, rehabilitation, renovation and site improvements. The State Legislature amended the four-year rule limit to increase it to six years for districts certified after January 1, 2005 and before April 20, 2009. The 4900 Excelsior district does not fit this timeline and its four-year rule will be July 1, 2020. Five Year Rule: At least 75% of tax increment revenues generated within the district must be used to pay for qualified costs within the district. The State Legislature amended the five-year rule limit to increase it to ten years for Redevelopment or Renewal and Renovation districts certified after June 30, 2003 and before April 20, 2009. The 4900 Excelsior district does not fit this timeline and its five-year rule is July 1, 2021. Since the EDA has entered into contracts and obligated TIF dollars, the Five-Year rule has been satisfied. Geographic Enlargements: MN Statute 469.175 sub 4 (f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. The district may not be enlarged after July 1, 2021. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 140 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 140 Recommendations: 1. Inclusionary Housing. The Redeveloper agreed to reserve at least 18 of the units for household earning 60% of the Area Median Income for at least 25 years following building occupancy. Since the Certificate of Occupancy has been provided, we recommend that staff reach out to the Developer and let them know that they need to provide the City the necessary compliance information. 2. Use of Future TIF After Obligation is Repaid. The TIF Note for this District will be paid off on February 1, 2026. We recommend that the City/EDA modify the budget of the District to allow for an additional 10% pooling for affordable housing. This would allow approximately $3M to be used for affordable housing. Further, we would recommend a 6 Year Rule analysis be completed for the District if the budget is modified to allow for additional affordable housing. The City should ensure compliance with the restrictions for In District use. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 141 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 141 4900 EXCELSIOR CONTINUED Maximum amount 2,800,000$ Interest Rate 4.50%Note Issue Date 3/5/2019Final Payment 2/1/2027Total Tax Tax Increment CumulativeIncrement Available at Principle Tax IncrementAvailable 95.00% Paid PaidYear3/5/2019 - - - - - 2,800,000.00$ 08/1/2019 52,150.00 222,681.37 211,547.30 159,397.30 211,547.30 2,640,602.70$ 0.52/1/2020 59,413.56 252,290.99 239,676.44 180,262.88 451,223.74 2,460,339.82$ 18/1/2020 55,357.65 252,290.99 239,676.44 184,318.79 690,900.17 2,276,021.03$ 1.52/1/2021 51,210.47 252,290.99 239,676.44 188,465.96 930,576.61 2,087,555.07$ 28/1/2021 46,969.99 252,290.99 239,676.44 192,706.45 1,170,253.05 1,894,848.62$ 2.52/1/2022 42,634.09 252,290.99 239,676.44 197,042.34 1,409,929.49 1,697,806.28$ 38/1/2022 38,200.64 252,290.99 239,676.44 201,475.80 1,649,605.92 1,496,330.48$ 3.52/1/2023 33,667.44 252,290.99 239,676.44 206,009.00 1,889,282.36 1,290,321.48$ 48/1/2023 29,032.23 252,290.99 239,676.44 210,644.20 2,128,958.80 1,079,677.27$ 4.52/1/2024 24,292.74 252,290.99 239,676.44 215,383.70 2,368,635.24 864,293.57$ 58/1/2024 19,446.61 252,290.99 239,676.44 220,229.83 2,608,311.68 644,063.74$ 5.52/1/2025 14,491.43 252,290.99 239,676.44 225,185.00 2,847,988.11 418,878.74$ 68/1/2025 9,424.77 252,290.99 239,676.44 230,251.67 3,087,664.55 188,627.07$ 6.52/1/20264,244.11 252,290.99 239,676.44 188,627.07 3,280,535.73 0.00$ 7TOTAL480,535.73 3,327,340.99 2,800,000.00 City of St. Louis Park4900 ExcelsiorDate Interest DueNote BalanceStudy session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 142 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 142 4900 EXCELSIOR CONTINUED City of St. Louis Park4900 ExcelsiorORIGINALHSS Geo. EnlargementInterest Income 0.50% 1) Limited Pooling options availableDistrict TypeRedevelopment Admin Expense 3.00% 2) Budget Mod: Not Recommended at this timeProject Area3) Admin. Expense is currently: for year 2019 8.9%At or Under LimitFiscal DisparitiesB ElectionCounty Number1321Frozen RateUTA #1 128.260% 0.000% 0.000%UTA #2 0.000%UTA #3 0.000%Current Year 2019First ReceiptCity Approved Cert Request Certified Legal Term Expected Term Tax Increment Interest Income TOTAL REVENUESProjectPaygoBonds Interfund LoanAdmin Expense County Admin Outside District Other Expense TOTAL EXPENSEOriginal Budget2019 11/16/2015 6/16/2016 7/1/2016 12/31/2044 12/31/2044‐ ‐ ‐ Cumulative Modified21,611,861 2,161,139 23,773,000 12,508,567 9,103,337 2,161,096 23,773,000 23,773,000 End of District Projected Actual Total504,582 7,173 5,059,173 ‐ ‐ ‐ 15,137 500 ‐ 327,978 4,452,816 343,616 Under / (Over) Budget21,107,279 2,153,966 18,713,827 12,508,567 9,103,337 ‐ 2,145,959 (500) ‐ (327,978) 19,320,184 23,429,384 YearBaseCurrent Fiscal Disparities CapturedTax IncrementInterest Income TOTAL REVENUESProjectPaygoBonds Interfund LoanAdmin Expense County Admin Outside DistrictIncrement ReturnedTOTAL EXPENSE201847,330 47,330 ‐ ‐ 124.745%‐ ‐ ‐ ‐ 723 11,486 538 ‐ ‐ 12,747 (31,971) 1 201947,330 475,420 23,005 405,085 125.012% 504,582 504,582 ‐ 211,547 ‐ 15,137 500 ‐ ‐ 227,185 245,426 2 202047,330 475,420 23,005 405,085 125.012% 504,582 1,227 505,809 ‐ 479,353 ‐ 15,137 500 ‐ ‐ 494,990 256,245 3 202147,330 475,420 23,005 405,085 125.012% 504,582 1,281 505,863 ‐ 479,353 ‐ 15,137 500 ‐ ‐ 494,990 267,117 4 202247,330 475,420 23,005 405,085 125.012% 504,582 1,336 505,917 ‐ 479,353 ‐ 15,137 500 ‐ ‐ 494,990 278,044 5 202347,330 475,420 23,005 405,085 125.012% 504,582 1,390 505,972 ‐ 479,353 ‐ 15,137 500 ‐ ‐ 494,990 289,026 6 202447,330 475,420 23,005 405,085 125.012% 504,582 1,445 506,027 ‐ 479,353 ‐ 15,137 500 ‐ 494,990 300,063 7 202547,330 475,420 23,005 405,085 125.012% 504,582 1,500 506,082 ‐ 479,353 ‐ 15,137 500 ‐ 494,990 311,154 8 202647,330 475,420 23,005 405,085 125.012% 504,582 1,556 506,138 ‐ 192,871 ‐ 15,137 500 ‐ 327,978 536,487 280,805 9 202747,330 475,420 23,005 405,085 125.012% 504,582 1,404 505,986 ‐ ‐ ‐ 15,137 500 ‐ 327,978 343,616 443,175 10 202847,330 475,420 23,005 405,085 125.012% 504,582 2,216 506,798 ‐ ‐ 15,137 500 ‐ 327,978 343,616 606,358 11 2029 47,330 475,420 23,005 405,085 125.012% 504,582 3,032 507,614 ‐ ‐ 15,137 500 ‐ 327,978 343,616 770,355 12 2030 47,330 475,420 23,005 405,085 125.012% 504,582 3,852 508,434 ‐ ‐ 15,137 500 ‐ 327,978 343,616 935,173 13 2031 47,330 475,420 23,005 405,085 125.012% 504,582 4,676 509,258 ‐ ‐ 15,137 500 ‐ 327,978 343,616 1,100,815 14 203247,330 475,420 23,005 405,085 125.012% 504,582 5,504 510,086 ‐ ‐ 15,137 500 ‐ 327,978 343,616 1,267,286 15 203347,330 475,420 23,005 405,085 125.012% 504,582 6,336 510,918 ‐ ‐ 15,137 500 ‐ 327,978 343,616 1,434,588 16 203447,330 475,420 23,005 405,085 125.012% 504,582 7,173 511,755 ‐ ‐ 15,137 500 ‐ 327,978 343,616 1,602,727 17 203547,330 475,420 23,005 405,085 125.012% 504,582 8,014 512,595 ‐ ‐ 15,137 500 ‐ 327,978 343,616 1,771,707 18 203647,330 475,420 23,005 405,085 125.012% 504,582 8,859 513,440 ‐ ‐ 15,137 500 ‐ 327,978 343,616 1,941,532 19 203747,330 475,420 23,005 405,085 125.012% 504,582 9,708 514,289 ‐ ‐ 15,137 500 ‐ 327,978 343,616 2,112,206 20 203847,330 475,420 23,005 405,085 125.012% 504,582 10,561 515,143 ‐ ‐ 15,137 500 ‐ 327,978 343,616 2,283,733 ‐ 21 2039 47,330 475,420 23,005 405,085 125.012% 504,582 11,419 516,000 ‐ ‐ 15,137 500 ‐ 327,978 343,616 2,456,118 22 2040 47,330 475,420 23,005 405,085 125.012% 504,582 12,281 516,862 ‐ ‐ 15,137 500 ‐ 327,978 343,616 2,629,365 23 2041 47,330 475,420 23,005 405,085 125.012% 504,582 13,147 517,729 ‐ ‐ 15,137 500 ‐ 327,978 343,616 2,803,478 24 2042 47,330 475,420 23,005 405,085 125.012% 504,582 14,017 518,599 ‐ ‐ 15,137 500 ‐ 327,978 343,616 2,978,461 25 204347,330 475,420 23,005 405,085 125.012% 504,582 14,892 519,474 ‐ ‐ 15,137 500 ‐ 327,978 343,616 3,154,320 26 204447,330 475,420 23,005 405,085 125.012% 504,582 504,582 ‐ ‐ 15,137 ‐ 327,978 343,116 3,315,786 TIF PLAN BUDGET ANALYSISDecertifiesRevenuesExpendituresTotal Budget DISTRICT INFORMATIONASSUMPTIONSRECOMMENDATIONSTIF YearTAX CAPACITYCurrent Local Tax RateRevenuesExpendituresEnding BalanceCASH FLOW PROJECTIONS ROLL UPID Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 143 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 143 4900 EXCELSIOR CONTINUED City of St. Louis Park4900 ExcelsiorPursuant to M.S. 469.176 Subd. 3:Admin limit is based on:RevenuesRevenuesEst expend21,611,904 2,161,190.4 Actual expend 4,437,678 443,767.83 TEST 1:Admin per TIF Plan $2,161,096Actual TIF 504,582 50,458.18 NTEST 2:Estimated TIF Admin Allowable (10%) $2,161,186Estimated Total TIF Revenues per TIF Plan $21,611,861NTEST 3:Cumulative TIF Admin Allowable (10%) $50,458Pursuant to M.S. 469.1763 Subd. 2:Total TIF Revenues for the Project $504,582YDistrict Type: RedevelopmentDoes this section apply? YesRESULTS:Cumulative TIF Admin Allowable (10%) $50,458Certification Request Date: 6/16/2016Actual Admin Expenses $15,137 Does TIF Plan Specify Assisting Housing Outside Project Area? YesAvailable Admin $35,321If so, What is the Additional % Allowed in TIF Plan (Up to 10%): 10%Actual Percentage3.0%Total Pooling %: 25%TIF Year Year Admin. Expenses Total % Allowable Current Year Cummulative Admin Costs Spent Outside Cumulative25% Pooling for Redevelopment10% Pooling for HousingIncrement GeneratedCosts Authorized Required?Increment returned Net RetainedP&I Due after year end Excess (Not Excess)0 201829,554 ‐ ‐ ‐ 29,554 (29,554) ‐ (29,554) (31,971) 0 23,773,000 no00(23,773,000)1 201944,691 504,582 8.9%504,582 504,582 44,691 81,454 ‐ 81,454 81,454 504,582 23,773,000 no00(23,268,418)2 202059,829 1,010,391 5.9%504,582 1,009,164 59,829 192,462 ‐ 192,462 192,462 192,462 1,010,391 23,773,000 no00(22,762,609)3 202174,966 1,516,254 4.9%504,582 1,513,745 74,966 303,470 ‐ 303,470 267,117 267,117 1,516,254 23,773,000 no00(22,256,746)4 202290,104 2,022,171 4.5%504,582 2,018,327 90,104 414,478 ‐ 414,478 278,044 278,044 2,022,171 23,773,000 no00(21,750,829)5 2023105,241 2,528,143 4.2%504,582 2,522,909 105,241 525,486 ‐ 525,486 289,026 289,026 2,528,143 23,773,000 no00(21,244,857)6 2024120,379 3,034,170 4.0%504,582 3,027,491 120,379 636,494 ‐ 636,494 300,063 300,063 3,034,170 23,773,000 no000(20,738,830)7 2025135,516 3,540,252 3.8%504,582 3,532,073 135,516 747,502 ‐ 747,502 311,154 311,154 3,540,252 23,773,000 no000(20,232,748)8 2026150,654 4,046,390 3.7%504,582 4,036,654 150,654 162,522 ‐ 162,522 162,522 162,522 4,046,390 23,773,000 no 327,978 0 0(20,054,588)9 2027 165,791 4,552,376 3.6% 504,582 4,541,236 165,791 162,370 ‐ 162,370 162,370 162,370 4,552,376 23,773,000 no 655,956 0 0(19,876,581)10 2028 180,929 5,059,173 3.6% 504,582 5,045,818 180,929 163,182 ‐ 163,182 163,182 163,182 5,059,173 23,773,000 no 983,935 0 0(19,697,761)11 2029 196,066 5,566,787 3.5% 504,582 5,550,400 196,066 163,998 ‐ 163,998 163,998 163,998 5,566,787 23,773,000 no 1,311,913 0 0(19,518,126)12 2030211,203 6,075,220 3.5%504,582 6,054,982 211,203 164,818 ‐ 164,818 164,818 164,818 6,075,220 23,773,000 no1,639,89100(19,337,670)13 2031226,341 6,584,478 3.4%504,582 6,559,563 226,341 165,642 ‐ 165,642 165,642 165,642 6,584,478 23,773,000 no1,967,86900(19,156,391)14 2032241,478 7,094,564 3.4%504,582 7,064,145 241,478 166,470 ‐ 166,470 166,470 166,470 7,094,564 23,773,000 no2,295,84700(18,974,283)15 2033256,616 7,605,482 3.4%504,582 7,568,727 256,616 167,303 ‐ 167,303 167,303 167,303 7,605,482 23,773,000 no2,623,82500(18,791,343)16 2034271,753 8,117,237 3.3%504,582 8,073,309 271,753 168,139 ‐ 168,139 168,139 168,139 8,117,237 23,773,000 no2,951,80400(18,607,567)17 2035286,891 8,629,832 3.3%504,582 8,577,891 286,891 168,980 ‐ 168,980 168,980 168,980 8,629,832 23,773,000 no3,279,78200(18,422,949)18 2036302,028 9,143,273 3.3%504,582 9,082,472 302,028 169,825 ‐ 169,825 169,825 169,825 9,143,273 23,773,000 no3,607,76000(18,237,487)19 2037317,166 9,657,562 3.3%504,582 9,587,054 317,166 170,674 ‐ 170,674 170,674 170,674 9,657,562 23,773,000 no3,935,73800(18,051,176)20 2038332,303 10,172,705 3.3%504,582 10,091,636 332,303 171,527 ‐ 171,527 171,527 171,527 10,172,705 23,773,000 no4,263,71600(17,864,011)21 2039347,441 10,688,706 3.3%504,582 10,596,218 347,441 172,385 ‐ 172,385 172,385 172,385 10,688,706 23,773,000 no4,591,69400(17,675,989)22 2040362,578 11,205,568 3.2%504,582 11,100,800 362,578 173,247 ‐ 173,247 173,247 173,247 11,205,568 23,773,000 no4,919,67300(17,487,105)23 2041377,715 11,723,297 3.2%504,582 11,605,381 377,715 174,113 ‐ 174,113 174,113 174,113 11,723,297 23,773,000 no5,247,65100(17,297,354)24 2042392,853 12,241,896 3.2%504,582 12,109,963 392,853 174,984 ‐ 174,984 174,984 174,984 12,241,896 23,773,000 no5,575,62900(17,106,733)25 2043407,990 12,761,370 3.2%504,582 12,614,545 407,990 175,858 ‐ 175,858 175,858 175,858 12,761,370 23,773,000 no5,903,60700(16,915,237)26 2044423,128 13,265,952 3.2%504,582 13,119,127 423,128 2,856,654 ‐ 2,856,654 2,856,654 2,856,654 13,265,952 23,773,000 no6,231,58500(16,738,634)ADMINISTRATIVE EXPENSE TESTEXCESS INCREMENTADMINISTRATIVE EXPENSE CALCULATIONPOOLING CALCULATION (25% Outside of District)Accummulated Totals Tax Increment25% for Qualified CostsAvailable for Pooling Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 144 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 144 WAYZATA BOULEVARD (PLATIA PLACE) Description: Wayzata Boulevard (County #1322) is a redevelopment district adopted on June 16, 2017. The district encompasses two (2) parcels of land (former Santorini’s restaurant site and vacated ROW owned by the EDA) and was established to facilitate the redevelopment of the properties into a 100-room hotel and 149-unit apartment building. On October 15, 2018, the EDA approved a revised Purchase and Redevelopment Agreement with SLP Park Ventures LLC under which the developer agreed to purchase the vacated ROW from the EDA and construct the two projects. The EDA is required to issuethe Developer two pay-as-you-go TIF Notes (Hotel Note - $714,000 and Apartment Note - $2,760,000) at 5.5% interest, to reimburse them for qualified redevelopment costs. To date both projects are pending construction and the TIF Notes have not been issued. Adopted…………………….03/21/2016 Requested Date………… 06/16/2016 Certified Date………………07/01/2016 First Increment……………..08/01/2020 Decertifies………………….12/31/2045 Former and Current PID Numbers: Property Address Former PID # Former UseNew PID #'sNew Use9920 Wayzata Blvd01-117-22-14-0018Santorini TBD9808 Wayzata Blvd01-117-22-14-0002SantoriniTBDMixed-Use Fiscal Disparities Election: The City will elect to calculate fiscal disparities from inside (B election) the district. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 145 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 145 Frozen Tax Rate: 131.8230% Obligations: It is anticipated that there will be two (2) PAYGO Note in this district as follows:  $714,000 for the hotel. To date the Note has not been issued.  $2,760,000 for the apartments. To date the Note has not been issued. Other Development Agreement Compliance: 1. Look Back . There are three (3) components to the lookback. (1) At the time of completion of construction of each component, if the amount of the Public Redevelopment Costs actually incurred is less than anticipated, the TIF Note(s) will be reduced on a dollar for dollar basis. (2) Within 60 days after the earliest of (i) stabilization (93% of the rental units are leased or hotel is at 68% occupancy); (ii) sale of property or; (iii) three years after the issuance of the CO, the developer will provide the City the financial data to calculate the actual rate of return to the developer. If, based on such review, the actual cash-on-cash (COC) return to the developer(s) exceeds 10% for the apartments or 9% for the hotel, then the TIF Notes will be reduced by 50% of the amount that results in an annual COC return equal to 10% for the apartments and 9% for the hotel; and (3) At the time of sale of either of the projects during the first five (5) years after issuance of the CO, if the COC exceeds 10% for the apartments or 9% for the hotel, the amount that exceeds these thresholds will be used to reduce the principal amount of the TIF Note(s). 2. Minimum Assessment Agreement. The minimum market value for the hotel as on January 2, 2021 shall be $8,500,000. The minimum market value for the apartments as of January 2, 2020 shall be $14,900,000 and $29,800,000 as of January 2, 2021. The Assessment Agreement shall be in place until the applicable TIF Note is paid in full or the TIF District terminates, whichever is sooner. 3. Inclusionary Housing. The Redeveloper agrees to reserve at least 15 of the units for household earning 50% of the Area Median Income for at least 25 years following building occupancy. The size and design of these units shall be consistent and comparable with the market rate units and is subject to approval of the City. The units shall be distributed throughout the entire project. The units shall have a number of bedrooms in the approximate proportions of the market rate units. The Redeveloper agrees to prepare an affordable housing plan as required in the City’s Inclusionary Housing Policy. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 146 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 146 Four Year Rule: MN Statute 469.176 sub 6 requires that, within four years from certification date, certain activities must have taken place on each parcel within the TIF district. Required activities include demolition, rehabilitation, renovation and site improvements. The Wayzata Boulevard four-year rule will be July 1, 2020. Five Year Rule: At least 75% of tax increment revenues generated within the district must be used to pay for qualified costs within the district. The Wayzata Boulevard district five-year rule is July 1, 2021. If the EDA enters into a contract and obligated TIF dollars, the Five-Year rule will be satisfied. Geographic Enlargements: MN Statute 469.175 sub 4 (f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. The district may not be enlarged after July 1, 2021. Recommendations: None at this time. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 147 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 147 ELMWOOD APARTMENTS Description: Elmwood Apartments (County #1323) is a redevelopment district adopted on May 15, 2017. The district encompasses one (1) parcel of land (former 36th Street Business Center) and was established to facilitate the redevelopment of the property into a five-story, 70-unit apartment (with 17 affordable units) and 4,400 sq/ft of retail space. On September 18, 2017 the EDA entered into a revised contract for private redevelopment with 36th Street LLC and agreed to provide a pay-as-you-go note in the amount of $950,000. The Redeveloper agreed to reserve 24% of the residential units for households earning 60% of Area Median Income (AMI) for at least 25 years following building occupancy. Adopted……………………..05/15/2017 Requested Date……………06/27/2017 Certified Date………………06/30/2017 First Increment……………….est. 2020 Decertifies………………….12/31/2045 Former and Current PID Numbers: Property Addresss Foremer PID #Former Use New PID #New Use5605 36th Street West 16‐117‐21‐34‐0073 36th St Business Ctr Same as former PID Sr. Apartments over retail Fiscal Disparities Election: The City will elect to calculate fiscal disparities from inside (B election) the district. Frozen Tax Rate: 124.605% Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 148 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 148 Obligations: It is anticipated there will be one PAYGO Note in this district as follows:  $950,000 at the lesser of 5% or the Redeveloper’s actual financing rate and paid with 95% of the TIF generated from the project. The Note has not yet been issued Other Development Agreement Compliance: 1. Look Back . At the time of completion of construction, if the aggregate total amount of the Public Redevelopment Costs paid or incurred by the Redeveloper is less than the aggregate total amount of Public Redevelopment Costs projected (in Schedule E of the Development Agreement), the total assistance provided will be reduced on a dollar-for-dollar basis and the principal amount of the TIF Note will be reduced accordingly. In addition, if the Projected Total Development costs, excluding Public Redevelopment Costs (in Schedule F of the Development Agreement), are less than the Projected Total Development Costs, the principal amount of the Note will be reduced by 50% of the excess of the Projected Total Development Costs over the actual Total Development Costs paid or incurred by the Redeveloper. 2. Minimum Assessment Agreement. The minimum market value as of January 2, 2019, shall be $8,100,000 and $16,200,000 as of January 2, 2020. The Assessment Agreement shall be in place until the TIF Note is paid in full or the TIF District terminates, whichever is sooner. 3. Designated Outdoor Recreation Area (DORA). The Redeveloper shall construct a DORA for the use and enjoyment of residents and invitees of the project and members of the general public. The DORA shall incorporate amenities to be mutually agreed upon by the Authority and Redeveloper, and which shall include public art and may include street furnishings or landscaping, and/or decorative lighting elements. The parties agree and understand that the Redeveloper shall be responsible for the cost of any maintenance and repair of the public art. If the Redeveloper fails to perform the Art Maintenance after thirty (30) days written notice from the Authority of the Redeveloper’s obligation to perform such maintenance (or such longer period of time as is reasonably necessary if the Maintenance cannot reasonably be completed within said thirty-day period), then the Authority or City may perform the Art Maintenance and forward evidence of the costs incurred in such Art Maintenance to the Redeveloper. The Redeveloper shall pay the Authority the costs of the Art Maintenance within sixty (60) days of receipt of such evidence. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 149 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 149 4. Inclusionary Housing. The Redeveloper agrees to reserve at least 24% of the units for household earning 60% of the Area Median Income for at least 25 years following building occupancy. The monthly rental price shall include rent and utility costs as determined annually by MHFA for the Housing Tax Credit Program. The size and design of these units shall be consistent and comparable with the market rate units and is subject to approval of the City. The units shall be distributed throughout the entire project. The units shall have a number of bedrooms in the approximate proportions of the market rate units. The Redeveloper agrees to prepare an affordable housing plan as required in the City’s Inclusionary Housing Policy. 5. Management. The Redeveloper shall at all times engage a property management company with substantial experience in operating mixed-use developments, subject to approval by the Authority, which approval will not be unreasonably withheld. The Redeveloper will submit evidence of such management upon request by the Authority. The Redeveloper has notified the Authority of, and the Authority has approved, the engagement of Main Street Companies as property management company. 6. Special Service District Maintenance. The Redeveloper understands that the project currently lies within the City’s Special Service District No. 6 and is subject to existing special service charges. Upon written request of the Authority or City, the Redeveloper will file any petition required under Minnesota Statutes, Chapter 428A in order to renew any levy of special service charges within the Special Service District. The Redeveloper further waives all rights to veto, appeal or otherwise object to imposition of a service charge levied in accordance with this paragraph. By no later than December 31, 2018, the Redeveloper shall submit to the Authority for review and approval a plan for maintenance and operation of all pedestrian and landscaping improvements located within the project. Four Year Rule: MN Statute 469.176 sub 6 requires that, within four years from certification date, certain activities must have taken place on each parcel within the TIF district. Required activities include demolition, rehabilitation, renovation and site improvements. The four-year rule will be June 30, 2021. Five Year Rule: At least 75% of tax increment revenues generated within the district must be used to pay for qualified costs within the district. The five-year rule is June 30, 2022. Since the EDA has entered into a contract and obligated TIF dollars, the five-year rule has been satisfied. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 150 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 150 Geographic Enlargements: MN Statute 469.175 sub 4 (f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. The district may not be enlarged after June 30, 2022. Recommendations: None at this time. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 151 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 151 WOODDALE STATION Description: Wooddale Station (County #1324) is a redevelopment district adopted on May 1, 2017. The district encompasses ten (10) parcels of land (former McGarvey Coffee and others) and was established to facilitate the redevelopment of the properties into 200 affordable apartments, 99 market rate apartments, 110-room hotel, 16,261 sq/ft commercial space and a 10,800 sq/ft Greenhouse/E-Generation facility. The development incorporates a mix of renewable energy sources, including an anaerobic digester, wind turbines and solar panels, which will provide 90% of the heat and power for the development. The entire development is designed to achieve LEED certification. The development also includes a mobility plan to lessen the traffic impact in the area, including car-free living, car share, bike share, multiple onsite live/work opportunities, transit passes and a local shuttle. On May 1, 2017 the EDA entered into a Purchase and Redevelopment contract with PLACE E-Generation One LLC and agreed to sell the redevelopment site and provide PLACE with a pay-as-you-go note in the total amount of $5,660,000. The 1st amendment was dated November 6, 2017. The 2nd amendment was dated December 18, 2017. The 3rd amendment was dated May 7, 2018, the 4th amendment was dated November 5, 2018 and the 5th amendment was dated June 17, 2019. Consideration of a 6th amendment is pending. To date, demolition and remediation of the North parcel has been completed but building construction has not yet commenced. Adopted…………………….05/01/2017 Requested Date………… 06/28/2017 Certified Date………………06/30/2017 First Increment……………….est. 2020 Decertifies………………….12/31/2045 Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 152 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 152 Former and Current PID Numbers: Property Addresss Foremer PID #Former Use New PID #New Use5815 Hwy 716-117-21-31-0079Vacant Same as former PID5725 Hwy 716-117-21-31-0078Frmr industrial bldg Same as former PID3520 Yosemite16-117-21-31-0002Rail ROW Same as former PID5925 Hwy 716-117-21-31-0071Vacant Same as former PID5816 36th St W16-117-21-34-0041Parking lot Same as former PID5814 36th St W16-117-21-34-0042Parking lot Same as former PID3565 Wooddale 16-117-21-34-0069 Commerical bldg Same as former PID3548 Xenwood Ave 16-117-21-31-0076Rail ROW Same as former PIDN/AROWROW Same as former PID3575 Wooddale16-117-21-34-0024Parking lot Same as former PIDMixed Use Development Fiscal Disparities Election: The City will elect to calculate fiscal disparities from inside (B election) the district. Frozen Tax Rate: 124.605% Obligations: It is anticipated there will be one PAYGO Note in this district as follows:  $5,660,000 at the lesser of 5% or the Redeveloper’s actual financing rate and paid with 95% of the TIF generated from the project. The Note has not yet been issued and can be split into two (2) notes (North and South). Other Development Agreement Compliance: 1. Look Back. At the time of completion of construction of the Minimum Improvements, if the aggregate total amount of the Public Redevelopment Costs paid or incurred is less than the aggregate total amount of Public Redevelopment Costs, the total assistance provided will be reduced on a dollar-for-dollar basis and the principal amount of the TIF Note will be reduced accordingly. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 153 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 153 In addition, if the Projected Total Development costs, excluding Public Redevelopment Costs (in Schedule E of the Development Agreement), are less than the Projected Total Development Costs, the principal amount of the Note will be reduced by 50% of the excess of the Projected Total Development Costs over the actual Total Development Costs paid or incurred by the Redeveloper. 2. Minimum Assessment Agreement. As of January 2, 2019 the minimum market value for the North Side Apartments Components, shall be $18,100,000, the minimum market value for the North Commercial Space Component shall be $390,600, the minimum market value for the E-Generation Facility Component shall be $108,000, the minimum market value for the South Apartments Component shall be $6,903,750, the minimum market value for the South Commercial Space Component shall be $735,225, and the minimum market value for the Hotel Component shall be $4,675,000. As of January 2, 2020 and each January 2 thereafter, the minimum market value for the North Apartments Component shall be $36,200,000, the minimum market value for the North Commercial Space Component shall be $781,000, the minimum market value for the E-Generation Facility Component shall be $216,000, the minimum market value for the South Apartments Component shall be $13,807,500, the minimum market value for the South Commercial Space Component shall be $1,470,450, and the minimum market value for the Hotel Component shall be $9,350,000. The Assessment Agreement shall be in place until the TIF Note is paid in full or the TIF District terminates, whichever is sooner. 3. Live/Work Units. The Redeveloper agrees to design 99 of the units of the North Apartments Component and South Apartments Component as live/work units (“Live/Work Units”), comprised of Live/Work Type I and Live/Work Type II units. Approximately 94 Live/Work Type I units will include a large working space within the dwelling unit, but no physical storefront, with approximately 18 Live/Work Type I Units will be located in the North Apartments Component and approximately 76 Live/Work Type I Units located in the South Apartments Component. There will be approximately five Live/Work Type II Units, which will include a large work space within the dwelling unit and a storefront, with all Live/Work Type II Units located in the South Apartments Component. 4. Inclusionary Housing. The Redeveloper agrees to reserve 200 of the units for households earning between 50% and 80% of the Area Median Income for at least 25 years following building occupancy. The monthly rental price shall include rent and utility costs as determined annually by MHFA for the Housing Tax Credit Program. The size and design of these units shall be consistent and comparable with the market rate units and is subject to approval of the City. The units shall be distributed throughout the entire project. The units shall have a number of bedrooms in the approximate proportions the market rate units. The Redeveloper agrees to prepare an affordable housing plan as defined in the City’s Inclusionary Housing Policy. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 154 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 154 5. Public Art. The Redeveloper agrees to incorporate public art curated by the Museum of Outdoor Arts (the “Public Art”) throughout the Redevelopment Property. The Public Art will include: (i) community-led art components involving collaboration with local artists, schools, and organizations; (ii) 8 to 10 art installations interwoven into the Urban Forest; (iii) additional pieces to be installed in the Plaza and other publicly accessible pedestrian areas on the Redevelopment Property, as well as affixed to various of the Components; and (iv) multipurpose spaces featuring exhibits and presentations from creatives as well as hosting community gatherings. 6. Special Service District Maintenance. The Redeveloper understands that the project currently lies within the City’s Special Service District No. 6 and is subject to existing special service charges. Upon written request of the EDA or City, the Redeveloper will file any petition required under Minnesota Statutes, Chapter 428A in order to renew any levy of special service charges within the Special Service District. 7. Property Maintenance. The Redeveloper agrees to have the Minimum Improvements professionally managed by a property management company with substantial experience in operating mixed-use developments. The Redeveloper’s selection of the property management company is subject to approval by the Authority, which approval shall not be unreasonably withheld. Four Year Rule: MN Statute 469.176 sub 6 requires that, within four years from certification date, certain activities must have taken place on each parcel within the TIF district. Required activities include demolition, rehabilitation, renovation and site improvements. The four-year rule will be June 30, 2021. Five Year Rule: At least 75% of tax increment revenues generated within the district must be used to pay for qualified costs within the district. The five-year rule is June 30, 2022. Geographic Enlargements: MN Statute 469.175 sub 4 (f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. The district may not be enlarged after June 30, 2022. Recommendations: None at this time. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 155 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 155 BRIDGEWATER BANK Description: Bridgewater Bank (County #1325) is a redevelopment district adopted on July 16, 2018. The district encompasses three (3) parcels of land and was established to facilitate the redevelopment of the properties into the corporate headquarters of Bridgewater Bank (39,967 sq/ft), 19,775 sq/ft of additional office, 7,530 sq/ft of retail space and 7,152 sq/ft Bridgewater Bank facility. The project is currently under construction and the building is expected to open Spring 2020. On August 6, 2018 the EDA entered into a contract for Private Redevelopment with Bridgewater Bank and agreed to provide it with a pay-as-you-go note in the amount of $950,000. Adopted…………………….07/16/2018 Requested Date……………12/14/2018 Certified Date………………05/11/2019 First Increment……………….est. 2020 Decertifies………………….12/31/2045 Former and Current PID Numbers: Property Addresss Foremer PID #Former Use New PID #New Use4424 Excelsior Blvd 06‐028‐24‐43‐0064Vacant Same as former PID4400 Excelsior Blvd 06‐028‐24‐43‐0187Vacant Same as former PID3743 Monterey Drive 06‐028‐24‐43‐0065Vacant Same as former PIDOffice/Retail Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 156 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 156 Fiscal Disparities Election: The City will elect to calculate fiscal disparities from inside (B election) the district. Frozen Tax Rate: 125.012% Obligations: It is anticipated there will be one PAYGO Note in this district as follows:  $950,000 and paid with 95% of the TIF generated from the project. The Note has not yet been issued. Other Development Agreement Compliance: 1. Commencement and Completion of Construction. The Redeveloper shall commence construction by December 31, 2018 and be completed by December 31, 2020. 2. Green Building Policy. Developer shall development the project in accordance with the City’s policy and shall use commercially reasonable efforts to obtain “green” certification for the project. As a condition to issuance of a CO, Redeveloper shall submit to the EDA either (a) evidence of certification of LEED, or similar certification or (b) in absence of actual certification, evidence of compliance with the Green Building Policy including a detail of the specific energy-efficient/sustainable features or components implemented in the construction of the Minimum Improvements. 3. Look Back. There are three (3) components to the lookback. (1) At the time of completion of construction, if the amount of the Public Redevelopment Costs actually incurred is less than anticipated, the TIF Note will be reduced on a dollar for dollar basis. (2) Within 60 days after the earliest of (i) stabilization (90% leased); (ii) sale of property or; (iii) three years after the issuance of the CO, the developer will provide the City the financial data to calculate the actual rate of return to the developer. If, based on such review, the actual cash-on-cash (COC) return to the developer(s) exceeds 6%, then the TIF Notes will be reduced by 50% of the amount that results in a stabilized annual COC return equal to 6% for the term of the TIF Note; and (3) At the time of sale of the project during the first six (6) years after issuance of the CO, if the COC exceeds 6%, the amount that exceeds this threshold will be used to reduce the principal amount of the TIF Note. 4. Minimum Assessment Agreement. As of January 2, 2020, the minimum market value for the development shall be $5,883,300 and $11,766,600 as of January 2, 2021. The Assessment Agreement shall be in place until the TIF Note is paid in full. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 157 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 157 a) Entrepreneurial Center. Until the Redeveloper needs all or any part of the fourth floor for their business operations, Redeveloper shall use commercially reasonable efforts to cause the Fourth Floor to be used as an Entrepreneurial Center. For a period of ten (10) months following the date of the Agreement, the Redeveloper shall expend reasonable time, resources and efforts to secure a lease with a tenant who will operate an Entrepreneurial Center on all or a portion of the Fourth Floor upon terms and conditions reasonably acceptable to Redeveloper (an “EC Lease”). If Redeveloper is unsuccessful in securing an EC lease despite expending reasonable time, resources and efforts to do so, then Redeveloper may lease or use the Fourth Floor for any other purpose consistent with the Agreement. Thereafter if all or any portion of the Fourth Floor becomes available for lease (or if the then-current EC Lease expires or terminates) and Redeveloper does not need such available area for its own operations, then Redeveloper shall expend reasonable time, resources and efforts for at least ninety (90) days from the date of notice of the termination or expiration of any option notice period of the then-current EC Lease to attempt to secure an EC Lease prior to proceeding with any other lease or use of all or the applicable portion of the Fourth Floor. Notwithstanding any other provisions of this Agreement to the contrary, the obligations of the Redeveloper shall continue until the TIF Note is paid in full. The foregoing covenant shall be binding upon Redeveloper and any of its Affiliates. Beginning five (5) years from the issuance of a CO for the Minimum Improvements, the foregoing covenant shall not bind any subsequent fee owner of the Redevelopment Property. 6. Special Service District Maintenance. The Redeveloper understands that the project currently lies within the City’s Special Service District No. 2 and is subject to existing special service charges. Upon written request of the EDA or City, the Redeveloper will file any petition required under Minnesota Statutes, Chapter 428A in order to renew any levy of special service charges within the Special Service District. Four Year Rule: MN Statute 469.176 sub 6 requires that, within four years from certification date, certain activities must have taken place on each parcel within the TIF district. Required activities include demolition, rehabilitation, renovation and site improvements. The District hasn’t been certified so this date is yet to be determined. Five Year Rule: At least 75% of tax increment revenues generated within the district must be used to pay for qualified costs within the district. The District hasn’t been certified so this date is yet to be determined. Geographic Enlargements: Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 158 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 158 MN Statute 469.175 sub 4 (f) places limits on the length of time a TIF district may add parcels. No parcels may be added five years after the certification date. The District hasn’t been certified so this date is yet to be determined. Recommendations: None at this time. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 159 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 159 City Map of the TIF Districts Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 160 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 160 Definitions Administrative expenses. “Administrative expenses" means all expenditures of an authority other than: amounts paid for the purchase of land; amounts paid to contractors or others providing materials and services, including architectural and engineering services, directly connected with the physical development of the real property in the project; relocation benefits paid to or services provided for persons residing or businesses located in the project; amounts used to pay principal or interest on, fund a reserve for, or sell at a discount bonds issued, or amounts used to pay other financial obligations to the extent those obligations were used to finance costs, "administrative expenses" includes amounts paid for services provided by bond counsel, fiscal consultants, and planning or economic development consultants, city staff and property maintenance. Authority. "Authority" means a rural development financing authority created pursuant to sections 469.142 to 469.151; a housing and redevelopment authority created pursuant to sections 469.001 to 469.047; a port authority created pursuant to sections 469.048 to 469.068; an economic development authority created pursuant to sections 469.090 to 469.108; a redevelopment agency as defined in sections 469.152 to 469.165; a municipality that is administering a development district created pursuant to sections 469.124 to 469.134 or any special law; a municipality that undertakes a project pursuant to sections 469.152 to 469.165, except a town located outside the metropolitan area or with a population of 5,000 persons or less; or a municipality that exercises the powers of a port authority pursuant to any general or special law. Bonds. Bonds or other obligations include: refunding bonds, notes, interim certificates, debentures; and interfund loans or advances. Captured net tax capacity. "Captured net tax capacity" means the amount by which the current net tax capacity of a tax increment financing district or an extended subdistrict exceeds the original net tax capacity. Economic development district. "Economic development district" means a type of tax increment financing district which consists of any project, or portions of a project, which the authority finds to be in the public interest because it will discourage commerce, industry, or manufacturing from moving their operations to another state or municipality; or it will result in increased employment in the state; or it will result in preservation and enhancement of the tax base of the state. The duration of an Economic Development District is 8 years after receipt of first increment. Five Year Rule. Within five years from certification, certain financing activities must take place in the district in order to retain the ability to collect increment from the district as a whole. These financing activities include issuing bonds, paying revenues to a third party for site improvements and Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 161 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 161 binding contracts have been entered into. For certain districts, no additional obligations may be entered into after the five years have elapsed. Beginning in the sixth year following certification of the district, increment may only be used to pay, subject to applicable restrictions for in-district use, outstanding obligations, and amounts for housing projects, as subject to limitations regarding pooling percentages and district type. Four Year Rule. Within four years from certification, certain improvements must be made to each parcel or to a street adjacent to the parcel in order for the Authority to retain the ability to capture increment from that parcel. If no activities take place, the parcel is ‘knocked down’ from the district and no increment is collected on that parcel. If those activities subsequently take place, the authority must notify the county in order to collect future increment from the parcel. Activities include: demolition, rehabilitation, renovation, site preparation and improvement of a street adjacent to a parcel. Qualified street improvements are limited to construction or opening of a new street, relocation of a street, and substantial reconstruction or rebuilding of an existing street. Governing body. "Governing body" means the elected council or board of a municipality. Housing district. "Housing district" means a type of tax increment financing district which consists of a project, or a portion of a project, intended for occupancy, in part, by persons or families of low and moderate income. The duration of a Housing District is 25 years after the first receipt of increment. Increment Revenue. "Tax increment revenues" include: taxes paid by the captured net tax capacity, proceeds from the sale or lease of property that was purchased with tax increments, principal and interest received on loans or other advances made by the authority with tax Municipality. "Municipality" means the city, however organized, in which the district is located. Original net tax capacity. "original net tax capacity" means the tax capacity of all taxable real property within a tax increment financing district as certified by the commissioner of revenue for the previous assessment year. Project. "Project" means a project as described in section 469.142; an industrial redevelopment district as described in section 469.058, subdivision 1; an economic development district as described in section 469.101, subdivision 1; a project as defined in section 469.002, subdivision 12; a development district as defined in section 469.125, subdivision 9, or any special law; or a project as defined in section 469.153, subdivision 2, paragraph (a), (b), or (c). Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 162 Management Review & Analysis - Tax Increment Financing Districts November 2019 St Louis Park, Minnesota Page 162 Tax increment financing district. "Tax increment financing district" or "district" means a contiguous or noncontiguous geographic area within a project delineated in the tax increment financing plan, for the purpose of financing redevelopment, housing or economic development in municipalities through the use of tax increment generated from the captured net tax capacity in the tax increment financing district. Parcel. "Parcel" means a tract or plat of land established prior to the certification of the district as a single unit for purposes of assessment. Project Area “Project Area” means a defined geographic area in which tax increment districts may be established. The project area may be larger than or equal to the size of the district. A Project Area Plan is adopted that outlines the conditions in the district and the statutory authority under which development or redevelopment will take place. Redevelopment district. "Redevelopment district" means a type of tax increment financing district consisting of a project, or portions of a project, within which the authority finds by resolution that one or more blighting conditions exist, reasonably distributed throughout the district. Parcels in a Redevelopment District must be analyzed to determine if they qualify under the law to be included in the District. Blighting factors include structurally substandard buildings, parcels that are vacant, unused, underused or inappropriately used. The duration of a Redevelopment District is 25 years after the receipt of first increment. Renewal and renovation district. "Renewal and renovation district" means a type of tax increment financing district consisting of a project, or portions of a project, within which the authority finds by resolution that one or more blighting conditions exist, similar to a Redevelopment District. The qualification rules are less stringent than a Redevelopment District. The duration of a Renewal and Renovation District is 15 years after the receipt of first increment. Soils condition district. "Soils condition district" means a type of tax increment financing district consisting of a project, or portions of a project, within which the authority finds by resolution that hazardous substances, pollution or contaminants exist that require removal. Tax increment financing plan. A Tax Increment Financing Plan is a document that is adopted by resolution by the Authority which outlines certain statutory requirements. These include a statement of objectives of the project, a list of development activities that the plan proposes, identification of parcels to be included in the district, a budget of revenues and project costs, and district duration. Study session meeting of November 12, 2019 (Item No. 3) Title: Annual TIF district management reportPage 163 Meeting: Study session Meeting date: November 12, 2019 Written report: 4 Executive summary Title: Historic Walker Lake parking ordinance Recommended action: None at this time. This report is for informational purposes only. Policy consideration: Does the city council wish to adopt an ordinance establishing parking regulations specific to the Historic Walker Lake business area? Summary: The city proposes to amend the zoning ordinance to establish parking regulations that are specific to the Historic Walker Lake business area. These regulations have been a part of the discussions with area businesses, the city council and planning commission as part of the development of the Historic Walker Lake small area plan. While the branding and planning for Historic Walker Lake have already resulted in significant public and private improvements and investments in the area, work continues on the development of a new zoning district that will further implement the recommendations of the Historic Walker Lake small area plan. It is anticipated that this work will take until the second quarter of 2020 to complete. Updating parking regulations, however, continues to be an immediate need. Therefore, staff proposes to proceed with a parking ordinance first, and for land use regulations and other performance standards to follow. The new parking regulations could be adopted by the end of the year. The proposed Historic Walker Lake parking regulations would: 1.Remove minimum parking requirements for any uses occupying an existing building. 2.Require a minimum number of parking spaces for new construction and building expansions. In many cases the ordinance would allow fewer parking spaces than currently required for similar uses in other parts of the city. It would also establish maximum parking rules for certain uses. The ordinance also includes parking code amendments that apply to all properties in the city to ensure parking lots are being utilized for customer and employee parking as required by code. 1.Prohibit using drive aisles and driveways for any purpose that prevent vehicle access to parking spaces or inhibit emergency service response. 2.Require all parking spaces open directly to an aisle or driveway. 3.Require parking spaces be marked with painted lines, or similar markings. Next steps: The ordinance is scheduled for a public hearing at the planning commission on November 20, 2019, and city council consideration on December 2, 2019. Financial or budget considerations: None. Strategic priority consideration: St. Louis Park is committed to providing a broad range of housing and neighborhood oriented development. Supporting documents: None Prepared by: Gary Morrison, assistant zoning administrator Reviewed by: Sean Walther, planning & zoning supervisor Karen Barton, community development director Approved by: Tom Harmening, city manager Meeting: Study session Meeting date: November 12, 2019 Written report: 5 Executive summary Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000) Recommended action: None at this time. This report is intended to provide an overview of this segment prior to the public hearing on Nov. 18, 2019. Council will be asked to act on the project at the Dec. 2 meeting. Policy consideration: Does the city council wish to continue to pursue the installation of a bikeway segment, as recommended by staff, on Dakota Avenue from Minnetonka Boulevard to Lake Street? Summary: Connect the Park is the city’s 10-year capital improvement plan (CIP) to add additional bikeways, sidewalks, and trails throughout the community. The primary goal of Connect the Park is to develop a comprehensive, city-wide network of bikeways, sidewalks, and trails that provides local and regional connectivity, improves safety and accessibility, and enhances overall community livability. This report focuses on the segment of Dakota Avenue bikeway from Minnetonka Boulevard to Lake Street. The segment of Dakota Avenue bikeway from Minnetonka Boulevard to Cedar Lake Road was approved for final design by council on May 6, 2019. The engineering department has been working on the preliminary design and associated public process for a bikeway on Dakota Avenue from Minnetonka Boulevard to Lake Street. To safely accommodate bikes on this segment of roadway, staff recommends buffered bike lanes, curb extensions at each intersection, a rectangular rapid flashing beacon (RRFB) at 33rd Street, installation of parking restrictions on one side of Dakota Avenue, removal of school-day permit parking on select side streets, and removal of timed school-day restrictions on Dakota Avenue. Financial or budget considerations: This project is included in the city’s capital improvement plan (CIP) for 2019. Strategic priority consideration: St. Louis Park is committed to providing a variety of options for people to make their way around the city comfortably, safely and reliably. Supporting documents: Discussion Updated Dakota Avenue south layout – Nov. 1, 2019 Public hearing meeting minutes – Apr. 15, 2019 (pages 3-7) Council decision staff report – May 6, 2019 (pages 132-136) Interactive survey results – July 2019 Design evaluations – Sept. 19, 2019 Prepared by: Ben Manibog, transportation engineer Jack Sullivan, senior engineering project manager Reviewed by: Debra Heiser, engineering director Approved by: Tom Harmening, city manager Study session meeting of November 12, 2019 (Item No. 5) Page 2 Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000) Discussion Background: Staff was directed to recommend a design for a bikeway on Dakota Avenue from Minnetonka Boulevard to Lake Street as a part of the Connect the Park capital improvement plan (CIP). The Dakota Avenue bikeway corridor was first identified as a part of the Active Living: Sidewalk and Trails Plan in 2007 and was then integrated into Connect the Park in 2012. Connect the Park is designed to create a system that provides sidewalks approximately every quarter mile and bikeways every half mile in order to improve pedestrian and bicycle connectivity throughout the community. The Dakota Avenue corridor is centrally located and is a key north-south connection that will enhance walking and biking in the city by connecting destinations such as parks, schools, businesses, regional trails, and Southwest Light Rail Transit (SWLRT). As is the case with most of the bikeways in the Connect the Park initiative, this transportation project is a retrofit project rather than a full reconstruction of the street. A reconstruction of Dakota Avenue is not on the current 10-year CIP. Instead, this project will make improvements at key locations to further the city’s policy goals of safer travel for all modes of traffic. Policy: In 2018, council adopted the Climate Action Plan. As a part of the plan, the city pledged to reduce vehicle emissions by 25% by 2030. One of the initiatives to accomplish this was to reduce vehicle miles traveled by residents. Two actions of the initiative are to: •Accelerate investment in alternative transportation infrastructure. •Continue implementation of Connect the Park to increase commuter bicycling and pedestrian opportunities. In 2019, council adopted the 2040 Comprehensive Plan. As a part of the mobility system goals and strategies, the city pledged to “Plan, design, build, and operate the city’s mobility system in a way that prioritizes walking first, followed by bicycling and transit use, and then motor vehicle use”. The Living Streets policy includes principles that are taken into consideration in the design of all transportation projects. Included in this are: enhance walking/ biking conditions and connections, traffic management, stormwater management, support the urban forest, create a sense of place and ensure cost-effective and practical solutions. Proposed layout: The recommended design for Dakota Avenue from Minnetonka Boulevard to Lake Street can be seen on the attached layout. This retrofit of Dakota Avenue includes: •Buffered bike lanes (5-foot lane, 2-foot buffer) •Curb extensions at each intersection •Rectangular rapid flashing beacon (RRFB) crossing Dakota Avenue at 33rd Street adjacent to the high school. •Parking restrictions on one side of the street (80 parking stalls to remain) •Removal of timed parking restrictions o On select side streets adjacent to Dakota Avenue o On Dakota Avenue north of 33rd Street Study session meeting of November 12, 2019 (Item No. 5) Page 3 Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000) Target bicycle design user According to the FHWA Bikeway Selection Guide, 4-7% of bikers are highly confident and will ride in traffic without bike lanes. Roughly half of all people are interested in biking but have concerns for their safety on roads. Without low-stress bike infrastructure on roads, this “interested but concerned” group will choose not to ride. This group is our main focus when designing bikeways. Goals in Connect the Park, the comprehensive plan, and the Climate Action Plan are to decrease the use of personal vehicles. Making biking more appealing to a wider audience helps achieve those goals. Bike lanes Staff recommends the installation of buffered bike lanes on Dakota Avenue from Minnetonka Boulevard to Lake Street. The buffer between the bike lane and the travel lane is two feet while the bike lane is five feet. When designing for safe bike facilities, as the amount of traffic increases, a dedicated and separated bike facility is recommended to provide a low-stress comfortable experience for users. Due to the high volume of traffic on Dakota Avenue south of Minnetonka Boulevard, “share the road” was not considered. Buffered bike lanes, compared to conventional bike lanes, give more space between vehicles and bikes. This allows for a more comfortable ride for bicyclists and more reaction time for all road users. Providing a more comfortable ride encourages more “interested but concerned” bikers to choose bicycling as their form of transportation. Some residents have voiced concerns for bikers getting “doored” by vehicles. In other words, having a bike lane next to parked cars allows the opportunity for people to open their car door and hit a biker. A buffered bike lane provides space for riders to ride outside of the door zone without riding into the vehicle lane. Enhancing walking/ biking conditions and traffic management infrastructure Traffic management and pedestrian enhancements are provided throughout the corridor in the recommended layout. These features, in addition to the buffered bike lanes, are being recommended to decrease vehicle speeds on Dakota Avenue and to improve safety, especially for pedestrians and cyclists. Curb extensions are proposed at each intersection in the corridor (5 in total). The curb is extended from its current location to the end of the parking lane, roughly 8 feet. Extending the curb shortens the crossing distance for pedestrians, increases their visibility to cars, increases pedestrians’ ability to see cars, and makes the road seem more constrained to drivers. Shorter crossing distances decrease the exposure of pedestrians to moving traffic. When drivers perceive a constrained roadway, they drive slower. An RRFB, otherwise known as a pedestrian flasher, is proposed on Dakota Avenue at 33rd Street. Crossing at this intersection is important and frequent with its proximity to the high school. RRFBs increase the rate of drivers yielding to pedestrians intending to cross the street. Study session meeting of November 12, 2019 (Item No. 5) Page 4 Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000) Parking Today, Dakota Avenue has a lane of traffic and parking in each direction. In order to fit a dedicated bikeway in each direction, space on the road needs to be reallocated. To do this, a lane of parking was removed for most of the segment. The recommendation to remove parking was based on a parking study. Our consultant observed the use of on-street parking on Dakota Avenue the weeks of Aug. 27 and Sept. 10, 2018, during different times and days of the week. Out of the existing 175 on-street parking spaces from Minnetonka Boulevard to Lake Street, it was observed that maximum of 75 spaces were used. The recommended layout provides 80 on-street parking spaces. To accommodate the on-street bike infrastructure, it is recommended that all-day parking restrictions be put in place on the following segments of Dakota Avenue: • West side from Minnetonka Boulevard to 32nd Street • East side from 32nd Street to Lake Street At 32nd Street, between its east and west approaches, parking is recommended to be allowed on both sides of the street. The location of the parking restrictions was chosen in consideration of residents’ access to alleys, the high school’s busing needs, and local businesses’ need for parking. Throughout the community engagement process, feedback received indicated the desire for additional parking in and around this corridor. To respond to this request and increase the flexibility in parking, staff recommends removing the school-day parking restrictions on the following streets: • 32nd Street from Dakota Avenue to Edgewood Avenue (both sides) • 33rd Street from Dakota Avenue to Colorado Avenue (both sides) • Dakota Avenue north of 33rd Street (west side) Community engagement What follows is a list of the meetings where this bikeway segment was discussed: • Open house 1 – Sept. 26, 2018 • Open house 2 – Oct. 30, 2018 • Open house 3 – March 19, 2019 • Study session discussion – April 8, 2019 • Public hearing – April 15, 2019 • Council decision – May 6, 2019 • Open house 4 – July 9, 2019 • Open house 5 – Sept. 19, 2019 This bikeway segment was originally proposed to be approved in conjunction with the Dakota Avenue bicycle and pedestrian bridge at Dakota Park and the trail on Edgewood Avenue. At the public hearing in April 2019, council and staff heard many concerns for the segment of Dakota Avenue south of Minnetonka Boulevard. At the May 6, 2019 council decision, council directed staff to re-engage the neighborhood and provide additional opportunity for public input. Study session meeting of November 12, 2019 (Item No. 5) Page 5 Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000) Staff held an open house in July 2019 to engage the property owners on this bikeway segment. At the meeting, staff used an interactive online survey designed to better understand concerns and how residents would like the city to prioritize them. When asked, “What is your number one concern on Dakota Avenue?”, residents cited preserving on-street parking the most. When asked to prioritize their concerns, residents ranked them in the following order from most important to least important: pedestrian safety, bike safety, vehicle speeds, and preserving on- street parking. Also, during the July open house, staff received many design suggestions from the community. These suggestions were evaluated by staff and discussed at the September 2019 open house. They were evaluated considering resident’s prioritized concerns, the comprehensive plan’s modal priorities (pedestrians first, bikes and transit next, then vehicles), engineering rules and guidance, and project costs. These six designs were: • 2-way bike lane • Roadway reconstruction to widen the road o On-street bike lanes and parking preservation o Off-street bike lanes (cycle track) • Replace sidewalk with a multi-use trail • Alternative route adoption • Buffered bike lanes with curb extensions (staff recommendation) Further information about the design considerations can be found in the “Design evaluations” document attached to the report. After evaluation, the buffered bike lanes with curb extensions best met the council’s goals. In addition, 7 parking spaces were gained by removing the boulevard space at the lane shift that occurs at 32nd Street. The new design increased the on-street parking spaces from 63 to 70. At the September meeting, staff continued to hear requests from the community to provide more on-street parking. Residents also asked staff to consider a design that would allow parking on both sides of the street (to match the existing conditions) that includes on-street bike lanes. This would require the widening of the roadway by approximately 4 feet. At the conclusion of that open house, staff agreed to look for additional on-street parking spaces and to provide costs on a roadway widening scenario. Since that meeting, staff has modified the plan further to increase on-street parking spaces. This was accomplished by reducing the number of intersection curb extensions on the corridor. At each intersection, the number of curb extensions was decreased by one. Removing the extensions gained 10 additional parking spaces. This brought the overall parking from 70 to 80 on-street spaces. To understand a road widening scenario, a high-level estimate was completed. Road widening would require the removal and replacement of the existing west curb and gutter, sidewalk, and driveways, the relocation of fire hydrants, relocation of catch basins, and the installation of several retaining walls. In addition, the new sidewalk would be directly at the back of the new curb. Study session meeting of November 12, 2019 (Item No. 5) Page 6 Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000) This sidewalk design is not consistent with the city’s Climate Action Plan, Living Streets policy or stormwater management best practices. The estimated project cost for this widening would be approximately $1,500,000. Financial considerations: This project is funded using general obligation (GO) bonds. Estimated project costs are $443,000. Final project cost estimates will be provided at the public hearing on Nov. 18, 2019. Proposed schedule: The schedule for this project is intended to merge with the Dakota/Edgewood bikeway and bridge project. The proposed schedule is as follows: Public hearing Nov. 18, 2019 Approve preliminary layout and authorize final plans Dec. 2, 2019 City council – approve final plans and order ad for bid January 2020 Construction Spring 2020 – Fall 2020 5’ 44’ Street Section 5’3’8’ 11’ Lane 11’ Lane 5’3’5’ WEST EAST 2’2’ EXISTING BUSINESSES 44’ Street Section 5’3’6’10’ Lane 11’ Lane 11’ Lane 3’6’5’ WEST EAST DAKOTA - EDGEWOOD TRAIL BRIDGE November 1st, 2019 Rectangular Rapid Flashing Beacon (RRFB) Edgewood Ave S Colorado Ave S Florida Ave SMinnetonka BlvdW 31st StW 31st StW 32nd StW 32nd StW 33rd StW 33rd StDakota Ave S Wooddale Ave S(2020 Connect the Park Project)W L a k e S t (2 0 2 0 C o n n e c t t h e P a r k P r o j e c t )Hamilton StNo Parking Allowed No Parking Allowed Parking Allowed Remove Permit Parking Restrictions On This Block 175 Existing Parking Stalls PARKING DATA FOR DAKOTA AVENUE 75 Maximum Utilized Stalls 70 Sept. 19th, 2019 - Staff Recommended Revised Stalls 63 March 19, 2019 - Staff Recommended Proposed Stalls 80 Nov. 2019 - Staff Recommended Revised Stalls Remove Permit Parking Restrictions On This Block 15 Stalls 12 Stalls 5 Stalls 4 Stalls 21 Stalls 7 Stalls 16 Stalls Parking Allowed / Bus Loading Parking AllowedParking Allowed Parking Allowed No Parking Allowed St. Louis Park High School C a n a d i a n P a c i f i c R a i l r o a d 10’8’5’5’2’2’5’5’ 44’ Street Section ST LOUIS PARK HIGH SCHOOL 11’ Lane 11’ LaneWEST EAST 44’ Street Section 5’8’ 11’ Lane 11’ Lane 5’3’5’5’3’ WEST EAST 2’2’NORTH0 50 100 FTPreferred Alternative (Alternative 1 Layout) Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 7 Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 8 Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 9 Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 10 Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 11 Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 12 Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 13 Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 14 Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 15 Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 16 Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 17 Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 18 Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 19 Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 20 Suggestion #1: 2-way bike lane •Not safe for bikes •Does not meet state design standards •Minimum 5 ft bike lanes (10 ft 2-way) •No buffer for northbound bikes •Includes traffic calming •Improved pedestrian safety (shorter crossing distance) •Parking reduced (bumpouts) Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 21 Suggestion #2: Texas Avenue-like reconstruction •This is a reconstruction project, not retrofit •Requires reconstruction of all curbs •Relocation of fire hydrants •Relocation of catch basins •Removal of boulevard •Includes traffic calming •Improved pedestrian safety •Dedicated bike facility, improves bike safety •Parking reduced (bumpouts) Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 22 Suggestion #3: Separated bike lanes •This is a reconstruction project, not retrofit •Requires reconstruction of all curbs •Relocation of fire hydrants •Relocation of catch basins •Removal of boulevard •Includes traffic calming •Improved pedestrian safety •Dedicated bike facility, improves bike safety •Parking reduced (bumpouts) Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 23 Suggestion #4: Trail replacement of sidewalk •Not a dedicated bike facility •Pedestrians will also use it •Does not include traffic calming •Pedestrian safety not addressed •Requires hydrant relocation •Requires tree removal •Requires extensive retaining wall, stairs, and fence reconstruction •Parking on Dakota Ave unchanged Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 24 Alternate routes •Does not address vehicle speeds, pedestrian safety, or bike safety on Dakota Avenue •Does not create logical connection to high school or Peter Hobart •Parking on Dakota Avenue unchanged Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 25 Staff recommendation •Includes traffic calming •Bumpouts and lane shift •Dedicated bike facility, improved bike safety •Buffered bike lanes •Improves pedestrian safety •Parking reduced (bumpouts, 1-side restriction) •Additional parking at 32nd Street lane shift •70 total stalls provided Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 26 Comparing designs Resident’s prioritized concerns 2-way bike lane Texas Avenue-like reconstruction Separate bike lane Trail replacement of sidewalk Alternate routes Staff recommendation Pedestrian safety/crossing Adds bumpouts Adds bumpouts Adds bumpouts Does not address Does not address Adds bumpouts Bike safety Not safe facility Dedicated facility Dedicated facility Non-dedicated facility, but off- street Non-dedicated facility, but off- street Dedicated facility Vehicle speeds Adds bumpouts Adds bumpouts Adds bumpouts Does not address Does not address Adds bumpouts and lane shift Preserving on- street parking Parking loss at bumpouts Parking loss at bumpouts Parking loss at bumpouts Doesn’t touch any parking Doesn’t touch any parking Parking loss at bumpouts and 1- side restriction Preserving trees/green space Bumpouts add greenspace 2 ft cannot sustain both boulevards SBL removes both boulevards Greenspace removed by wider trail No green space is touched Bumpouts add greenspace GRAND TOTAL +2 +2 +2 +0 +1 +3 •Green = improves = +1 •Yellow = doesn’t improve or diminish = +0 •Red = diminishes = -1 Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 27 Comparing designs cont. Additional staff considerations 2-way bike lane Texas Avenue-like reconstruction Separated bike lane Trail replacement of sidewalk Alternate routes Staff recommendation Resident sub-total +2 +2 +2 +0 +1 +3 Comprehensive plan guidance Does not meet Meets Meets Does not meet Unknown Meets State Aid rules Does not meet Meets Meets Doesn’t apply Doesn’t apply Meets NACTO guidance Does not meet Does not meet Meets Does not meet Unknown Meets Project cost Retrofit Reconstruction Reconstruction Retrofit Unknown Retrofit GRAND TOTAL +0 +2 +4 -2 +1 +7 •Green = meets expectation = +1 •Yellow = doesn’t apply or unknown = +0 •Red = does not meet expectation = -1 Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 28 Final staff recommendation •Buffered bike lanes •Parking restriction on one side •About 70 stalls provided. •Lane shift at 32nd Street •Added parking at lane shift •Pedestrian bumpouts Study session meeting of November 12, 2019 (Item No. 5) Title: 2019 Connect the Park – Dakota South Bikeway (4019-2000)Page 29