HomeMy WebLinkAboutEDA - April 18, 20231685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 55304 • (763) 755-5100
FAX (763) 755-8923 • WWW.ANDOVERMN.GOV
ECONOMIC DEVELOPMENT AUTHORITY
MEETING
April 18, 2023
6:00 p.m.
Conference Room A and B
1. Call to Order — 6:00 p.m.
2. Approval of Minutes (January 17, 2023)
3. Review Commercial Project Activity
4. Redevelopment Updates (Verbal)
5. Andover Home Improvement Grant Program — Program Distribution
6. Financial Update - EDA Special Revenue Fund, Tax Increment Project Account & TIF
District/Holdings Status
7. Other Business
8. Adjournment
1685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 55304 • (763) 755-5100
FAX (763) 755-8923 • WWW.ANDOVERMN.GOV
TO: Economic Development
CC: Jim Dickinson, City Administrator
FROM: Michelle Harmer, Deputy City
SUBJECT: Approval of Minutes
DATE: April 18, 2023
INTRODUCTION
The following minutes were provided by Staff reviewed by Administration and submitted
for EDA approval:
January 17, 2023 Regular
DISCUSSION
The minutes are attached for your review.
ACTION REQUIRED
The EDA is requested to approve the above minutes.
Respectfully
(submitted,
Michelle Hartner
Deputy City Clerk
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ANDOVER ECONOMICDEVELOPMENTAUTHORITYMEETING—
JANUARY I7, 2023 - MINUTES
The Meeting of the Andover Economic Development Authority was called to order by President
Sheri Bukkila January 17, 2023, 6:00 p.m., at the Andover City Hall, 1685 Crosstown Boulevard
NW, Andover, Minnesota.
Commissioners Present: Jamie Barthel, Ted
Commissioners Absent: Kari Kafer and
Also present: EDA Executive
Community Dei
GIJ2fZIINURVa
December 20,
Motion by Barthel, Seconded, by Nelson, to
►"_it 11404,"
President
President — Sheri Bukkila
Vice -President Jamie Barthel ,
Secretary — Ted Butler
Treasurer — Kari Kafer
Assistant Treasurer — Greg Muell
Commissioner — Rick Engelhardt
Commissioner — Randy Nelson
Staff
Executive Director — Jim Dickinson
Recording Secretary — Michelle Hartner
Staff Support — Joe Janish
and Randy Nelson,
Jim Dickinson
Director, Joe Jani
ty,Engineer, Dave
minutes as written. Motion carried
the following officers for 2023:
Motion by Nelson, Seconded by Barthel, to appoint EDA Officers and Staff for 2023:
Andover Economic Development Authority Meeting
Minutes —January 17, 2023
Page 2
1 President — Sheri Bukkila, Vice President — Jamie Barthel, Secretary — Ted Butler, Treasurer —
2 Kari Kafer, Assistant Treasurer — Greg Mueller, Commissioner Rick Engelhardt, Commissioner
3 Randy Nelson, Executive Director — Jim Dickinson, Recording Secretary — Michelle Harmer,
4 Assistant Executive Director — Joe Janish. Motion carried unanimously.
6 REDEVELOPMENT UPDATES
7
8 Mr. Janish updated on the Bunker Redevelopment area. The tenant number is the same as updated
9 last month. The wells on the properties where the building has been demolished are in the process
10 of being sealed. The well at 2526 138�h Avenue needs to be located, the State will come out in the
11 spring to locate the well. Due to the large depth of the wells at 2557 and 2621 Bunker Lake
12 Boulevard they will be sealed in the spring.
13
14 COMMERCL9LPROJECTACTIVITY
15
16 Mr. Janish updated on the following:
17
18 Clocktower Commons, 15190 Bluebird Street — The final building pad location, interest is
19 relatively low at this point.
20
21 Interest in Hughes Industrial Park — From time -to -time Staff is contacted by a business looking
22 to expand, but it fades away.
23
24 ABCMini-Storage/T-Squared (self -storage), 13624 Hanson Boulevard — City Council approved
25 a CUP for additional mini -storage on a partition of this lot. They will not be getting the slab placed
26 on the second building this year. They do have a construction crew to start erecting the east
27 building, which is expected the week of January 16, 2023. Roofing material was delivered but
28 was the wrong color. New material is expected.
29
30 Restaurants/Fast Food — Currently staff is aware of companies continuing to look for land to
31 locate to in Andover.
32
33 TCF Site — At this time the city is in receipt of two conditional use permit applications related to
34 having a drive through at this location. The current owner is looking at having two separate
35 buildings with their own pick-up windows. City Council is expected to consider the two CUPs for
36 a drive thru on January 17, 2023. The two restaurants would be Chipotle and Noodles and
37 Company. There would be limited seating inside both restaurants.
38
39 Taco Bell, 7r1 Avenue and Bunker Lake Boulevard — The building permit has been issued. They
40 have placed the interior slab of the building. This is a panelized building and will not be showing
41 up until February of 2023.
42
43 Westgate Senior Living, 71h Avenue and Bunker Lake Boulevard — Framing inspection has been
44 completed on the east wing of the building, sheetrock will begin. The west has been sheet rocked
45 and taping has begun.
Andover Economic Development Authority Meeting
Minutes —January 17, 2023
Page 3
1 Aurora Vista, 71 Avenue and Bunker Lake Boulevard — Framing is on-going. Windows are
2 being installed. Crane has been moved to the west wing.
3
4 Holasek Property — Andover City Council approved a Comprehensive Plan Amendment, City
5 Zoning Code Amendment and rezoning of the parcel on August 4, 2022. This item was approved
6 by the City Council on December 20, 2022. The applicants are reviewing market conditions and
7 financial partners.
8
9 Housing—Developers are looking for additional land for future developments. Several developers
10 are trying to keep an inventory of lots but are having difficulty in finding locations. In 2021 there
11 were 140 new housing starts. In 2022 there were 88 permits issued for new housing, 1 apartment
12 (150 units) and an assisted living facility (32 units).
13
14 Fields of Winslow Cove — Staff is currently reviewing a final plat for Fields of Winslow Cove 2°a
15 Addition with 36 lots on the west side of Prairie Road. This plat contains a roundabout at this
16 location.
17
18 Legacy at Petersen Farms — City Council will consider the Conditional Use Permit (CUP)
19 amendment for a Planned Unit Development amendment to allow for Phase 3 (33 lots). On
20 December 20, 2022 City Council tabled action on this item and provided an extension to the
21 applicant in order to allow the applicant to review how a second access could be provided for
22 Phase 2.
23
24 Anoka County 911 and Radio Building - The building plans have been reviewed and the Building
25 Department is awaiting comments from the architects. The building permit could be issued
26 sometime in the next couple weeks. The project will be spring construction.
27
28 Beberg Landscaping, 13535 Grouse Street — It appears the property has been sold to B&A Feist
29 Properties, which operates Rock Hard Landscape Supply.
30
31 Grace Lutheran Church, 13655 Round Lake Boulevard — Is looking at an addition to the existing
32 building in order to remove the portables at the location.
33
34 Constance Free Church, 16150 Crosstown Boulevard — Is looking at remodeling part of their
35 facility, including revamping the entrance to the building and screening some mechanical
36 equipment they installed. The fencing they would like to install is too tall.
37
38 Overall Marketing — City staff continues to work with parties interested in investing in Andover
39 and marketing all commercial sites. Staff continues to work with Anoka County Regional
40 Economic Development (ACRED) on marketing of the community and Anoka County. ACRED
41 is developing two programs with intentions to have them available in early 2023. One program is
42 expected to allow communities and landowners to obtain a grant to assist with obtaining "shovel
43 ready" status. The other would allow for communities and landowners to assist with preparing
44 their property for market or assist a project to move forward.
45
Andover Economic Development Authority Meeting
Minutes—January 17, 2023
Page 4
1 DSTI Parcel, 13901 Jay Street - There is still interest in multi -family on the parcel. The latest is
2 a 162 -unit senior living, market value apartment complex with a restaurant on the parcel. The EDA
3 is not in favor of housing on the parcel.
4
5 TE Connectivity, 1671 130 Lane — The manufacturing department of the company is
6 relocating. The shutdown is taking longer than expected, they will close the plant in 2024.
7
8 Walmart, 1851 Bunker Lake Boulevard — President Bukkila asked about the storage containers
9 in the back. Staff was told the containers are froze to the ground and will be emptied and
10 removed when possible. President Bukkila would like an update on the removal of the
11 containers.
12
13 OTHER BUSINESS
14
15 There was none.
16
17 ADJOURNMENT
18
19 Motion by Barthel, Seconded by Nelson to adjourn. Motion carried unanimously. The meeting
20 adjourned at 6:23 p.m.
21
22 Respectfully submitted,
23
24 Michelle Harmer, Recording Secretary
LZAN 1111TA N
0
1685 CROSSTOWN BOULEVARD N.W.. ANDOVER, MINNESOTA 55304 . (763) 755-5100
FAX (763) 755-8923 • WWW.ANDOVERMN.GOV
TO:
CC:
FROM:
SUBJECT:
DATE:
President and Commissioners
Jim Dickinson, Executive Director
Joe Janish, Community Development Director
Review Commercial Project Activity
April 18, 2023
INTRODUCTION
Staff will provide a progress report on ongoing commercial project activity at the meeting.
ANDOVER COMMERCIAL PROJECTS
• Clock Tower Commons —The final building pad location interest is relatively low at this
point. Staff has met with the owner/developer who is working on plans to build on the final
pad. The developer is aware and plans to have a clock on the building.
Interest in Hughes Industrial Park — A 10 acre property east of the park had been on the
market and City Council reviewed with the landowner desired roadway connections
through the parcel at a past work session. The owners of Best Outdoor Services, which
owns a lot nearby, have purchased the property. Eventually, they would like to expand to
this location. They are aware that the property is currently zoned residential and would
have to follow a process for any type of expansion. They are looking at ways to allow for
outside storage, continue to rent out the home and not have to build the roadway. Their
current plans are to continue to rent out the home.
ABC Mini-Storage/T-Squared (self -storage) — City Council approved a CUP for
additional Mini -storage on a portion of this lot. The east building is up, and the roof has
been completed. They are working on the interior, separating the units, and installing the
units roll up doors.
• Restaurants/Fast Food — Currently staff is aware of companies continuing to look for land
to locate in Andover.
TCF Site —At this time the city has approved two conditional use permit applications
related to having a drive through at this location. These two restaurants would be Chipotle
and Noodles and Company. City Council has approved the CUPS. The applicant is working
with Coon Creek Watershed District on infiltration at the site.
• Taco Bell (Andover Crossings) —City staff has completed a Commercial Site Plan (CSP)
for a Taco Bell. The drive through received a Conditional Use Permit. The building is
under construction, working on the interior.
Westgate Senior Living (Andover Crossings) — Flooring, cabinets, plumbing fixtures
and trim are being installed throughout the building.
Aurora Vista (Andover Crossings) — Staff received a tour of the project. Framing is
ongoing, the third floor on the east wing is sheet rocked and they are working on taping
and painting. Second Floor of east wing is insulated and sheet rocking has begun. They
have started to insulate the first floor on the east wing. They are planning an October
opening.
• Holasek Property (near City Hall) — Andover City Council approved a Comprehensive
Plan Amendment, City Zoning Code Amendment and rezoning of the parcel on August 4,
2022. This item was approved by the City Council on December 20, 2022. The applicants
are reviewing market conditions and financial partners.
Housing — Developers are looking for additional land for future developments. Several
developers are trying to keep an inventory of lots, but are having difficulty in finding
locations. In 2021 we had 140 new housing starts. In 2022 we had 100 permits issued for
new housing, 1 apartment (150 units), and an assisted living facility (32 units). Currently,
11 permits have been issued for single-family homes.
• Fields of Winslow Cove — City Council has approved the Final Plat for Fields of Winslow
Cove 2nd addition with 36 lots on the West side of Prairie Road. A pre -construction meeting
has been scheduled for the project.
• Legacy at Petersen Farms — City Council will consider the Conditional Use Permit (CUP)
Amendment for a Planned Unit Development Amendment to allow for Phase 3 (33 lots).
On December 20, 2022 City Council tabled action on the item and was provided an
extension by the applicant in order to allow the applicant to review how a second access
could be provided for Phase 3.
• Legacy Christian Academy — Staff is reviewing a commercial site plan for an expansion
at this site.
• Anoka County 911 and Radio Building— City Council approved a request for a fuel tank
to be on the property on August 16, 2022. The building plans have been issued. A ground
breaking was held on April 10, 2023.
Grace Lutheran Church — Is looking at an addition to the existing building in order to
remove the portables at the location. A Conditional Use Permit was granted.
• Constance Free Church — Is looking at remodeling part of their facility, including
revamping the entrance to the building and screening some mechanical equipment they
installed. City Council amended the City Code to allow for taller fences in certain
situations. Staff is waiting for the submittal to be stamped.
• Overall marketing - City Staff continue to work with parties interested in investing in
Andover and marketing all commercial sites. Staff continues to work with the Anoka
County Regional Economic Development (ACRED) on marketing of the community and
Anoka County.
1685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 55304 • (763) 755-5100
FAX (763) 755-8923 • WWW.ANDOVERMN.GOV
Andover Home Improvement Grant Program
Applications are accepted until funds are no longer available. Grant recipients will be awarded on
first come first serve basis. The Andover Economic Development Authority reserves the right to
modify the program at any time.
The intent of the Andover Home Improvement Grant Program is to pay a portion of project costs to
Andover property owners who will make certain exterior improvements to the front (street side) of
their home, increasing its curb appeal, which benefits the entire community. There are no income
limits to participate in this program. However, there are eligibility requirements.
Grant
Grant amounts awarded will be between $500 - $5,000. Homeowners must pay at least $1,500 (75%
of project costs) of their own funds to be eligible to receive the minimum grant amount of $500 from
the City. Grant dollars do not need to be repaid.
Grants will equal 25% of the applicant's individual project amounts depending upon the scope of
work. If the scope of work includes qualifying projects from both categories, then the grant amount
will be determined individually in each category. The combined project amount must be $2,000 or
more to be eligible. Cost of tools will not be eligible for grant dollars.
Eligibility Requirements
• 1 to 4 unit buildings, owner -occupied, single family, townhome, twin home, condo.
• Homestead status with Anoka County Property Records.
Current on Anoka County property taxes.
• Property value is less than $293,000 based on Anoka County estimated property value.
Projects must include at least one item from the Beautification Project list.
Projects must be visible from the street in front of the house.
• None of these exterior projects are covered, or will be covered, by an insurance claim.
• Work cannot begin until the required paperwork has been submitted to the City and a Grant
Award Certificate has been provided to the homeowner.
Beautification Projects (25% grant)
• Front door, storm door, and/or garage door
• Sidelight windows by front door
• Columns at front door
• Covered front porch
• Brick, stone, or shakes
• Alter roofline on front of house
• Permanent landscaping (includes tree trimming, removal and replacement of overgrown
and/or dead items, planting new trees, shrubs, plants and/or flowers) $250 minimum.
• Driveway, sidewalk (repair or replace)
• Window boxes, shutters (add or replace)
• Screening of utility boxes and/or garbage and recycling cans
• Fence (add, repair, or replace)
Basic Projects (25% grant)
• Roof
• Siding
• Painting
• Soffit
• Facia
• Trim
• Gutters
• Windows
• Chimney repair, tuck -pointing, repointing
• Deck - front or side yard - visible from front of house (repair or replace)
• Porch - front or side yard - visible from front of house (repair or replace)
• Retaining wall (repair or replace)
Application
one application per address
EXAMPLE OF PROJECT:
Fence Project TOTAL $4,000.
Homeowner Pays $3,000.
City Grant Contributes $1,000.
1685 CROSSTOWN BOULEVARD N.W. * ANDOVER, MINNESOTA 55304 * (763) 755-5100
FAX (763) 755-8923 * WWW.ANDOVERMN.GOV
ANDOVER HOME IMPROVEMENT PROGRAM GRANT APPLICATION
The intent of the Andover Home Improvement Program is to pay a portion of project costs to
Andover property owners who will make certain exterior improvements to the front (street
side) of their home, increasing its curb appeal which benefits the entire community. There
are no income limits to participate in this program.
1. Property Type*:
Single Family Home.
Townhome.
Twin Home/Duplex.
Condo.
Multi -Unit Building (up to 4 units).
2. How many units in the building if Multi -Unit Building:
3. Is your property part of a Home Owner's Association:
Please provide a copy of the Association Bylaws showing that you are responsible for the
project costs*
4. I understand that I will need to spend at least $1,500 (75% of project costs) of my own
funds to be eligible to receive the minimum grant amount of $500 from the City of
Andover.
5. I understand the City's grant dollars will only pay a portion of the cost of the exterior
improvements.
6. Eligibility Requirements (check each to confirm you meet these requirements. You must
meet all requirements to be eligible for this program.)
The home is in Andover, MN and I own and live in the home.
The home has Homestead Status with Anoka County Property Records.
I am current on my Anoka County property taxes.
My property value is less than $225,000 based on Anoka County estimated
property value.
My projects will be visible from the street in front of my house.
None of my projects are covered, or will be covered, by an insurance claim.
BEAUTIFICATION PROJECTS: These projects are eligible for a 25% grant. All eligible
applications must include at least one item from this beautification list. Please check at
least on project that will be completed.
Front door, storm door, garage door(s).
Sidelight window by front door.
_ Columns at front door.
Covered front porch.
Brick, stone, or shakes.
Alter roofline of front of house.
Permanent landscaping (tree trimming, removal and replacement of overgrown
and/or dead shrubs, planting new trees, shrubs, or perennial flowers; $250
minimum).
Driveway or sidewalk — concrete or asphalt (repair, replace).
Window boxes, shutters (add or replace).
Screening of utility boxes and/or garbage and recycling containers.
Fence (add, repair, or replace).
BASIC PROJECTS: These projects are eligible for a 25% grant. The projects on this list
are optional. Please check the projects you are considering. If any of these items marked
with *** are completed on the front of the house, then the cost of the project to be
completed around all sides of the house would be eligible.
Roof***.
Siding***.
Painting***.
Soffit***.
Fascia***.
Gutters***.
Windows***.
Chimney repair, tuck -pointing, repointing.
Deck — front or side yard— visible from the front of house (repair or replace).
Porch — front or side yard— visible from the front of house (repair or replace).
Retaining wall (repair or replace).
7. First and Last Name(s) of Property Owner(s)*:
8. Street Address*:
CITY, STATE, ZIP
9. Phone Number: Alternate Phone Number:
10. Email Address:
11. Alternate Email Address:
TO REMAIN ELIGIBLE FOR AN ANDOVER HOME IMPROVEMENT PROGRAM GRANT
AWARD, you cannot start your project until you receive a Grant Award Certificate from the
City of Andover. Collecting bids from contractors is encouraged, but actual work on the
projects cannot start until receiving a Grant Award from the City.
12. GOVERNMENT DATA PRACTICES ACT — TENNESSEN WARNING*
The data you supply on this form will be used to process this application for which you
are applying. You are not legally required to provide this data, but the City will be
unable to proceed without it. The data will constitute a public record.
I acknowledgement the Government Data Practices Act - Tennessen Warning*:
Signature
Signature
ANL6 bq^-
1685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 55304 • (763) 755-5100
FAX (763) 755-8923 • WWW.ANDOVERMN.GOV
TO: President and Commissioners
FROM: Jim Dickinson, Executive Director
SUBJECT: Financial Update - EDA Special Revenue Fund, Tax Increment Project Account &
TIF District/Holdings Status
DATE: April 18, 2022
The EDA is requested to receive a brief presentation on the EDA Special Revenue Fund and the
Tax Increment Projects Capital Project Fund.
DISCUSSION
The Executive Director will use the attached documents as the basis for the presentation and to
facilitate discussion:
1. EDA Special Revenue Fund Statement of Revenues, Expenditures and Changes in
Fund Balance
2. Fund Balance Analysis — TIF Project Accounts —March 2023
3. March 2023 TIF District Status
4. TIF Rental Properties — Through 2022
ACTION REQUESTED
a presentation, discuss, and provide direction to staff.
submitted,
City of Andover
Special Revenue Funds
Economic Development Authority Fund
Statement of Revenues, Expenditures and Changes in Fund Balance
Fund Balance, January 1
Revenues
Charges for Services
Investment Income
Miscellaneous
Total Revenues:
Other Sources
Transfers In
Total Revenues and Other Sources:
Total Available:
Expenditures
Personal Services
Supplies and Materials
Purchased Services
Other Services and Charges
Capital Outlay
Total Expenditures:
Other Uses
Transfers Out
Total Expenditures and Other Uses:
Fund Balance. December 31
Change in Fund Balance
$ 153,980 $ 143,524
27,527
(440)
1,308
28,395
28,395
182,375
3,787
4,097
23,883
7,084
38,851
38,851
$ 143,524
$ (10,456)
-7%
15,000
2,000
17,000
150,000
167,000
310,524
7,536
18,900
213,400
13,850
253,686
253,686
$ 56,838
$ (86,686)
-60%
$ 143,524
22,447
(5,432)
953
17,968
150,000
167,968
311,492
2,757
5,819
65,901
12,558
27,618
114,653
114,653
$ 196,839
$ 53,315
37%
$ 196,839
15,000
2,000
17,000
17,000
213,839
7,536
18,900
83,500
14,100
124,036
124,036
$ 89,803
$ (107,036)
-54%
Actual
1
Adopted
1
Actual
Adopted
1
Description
2021
2022
2022
2023
Fund Balance, January 1
Revenues
Charges for Services
Investment Income
Miscellaneous
Total Revenues:
Other Sources
Transfers In
Total Revenues and Other Sources:
Total Available:
Expenditures
Personal Services
Supplies and Materials
Purchased Services
Other Services and Charges
Capital Outlay
Total Expenditures:
Other Uses
Transfers Out
Total Expenditures and Other Uses:
Fund Balance. December 31
Change in Fund Balance
$ 153,980 $ 143,524
27,527
(440)
1,308
28,395
28,395
182,375
3,787
4,097
23,883
7,084
38,851
38,851
$ 143,524
$ (10,456)
-7%
15,000
2,000
17,000
150,000
167,000
310,524
7,536
18,900
213,400
13,850
253,686
253,686
$ 56,838
$ (86,686)
-60%
$ 143,524
22,447
(5,432)
953
17,968
150,000
167,968
311,492
2,757
5,819
65,901
12,558
27,618
114,653
114,653
$ 196,839
$ 53,315
37%
$ 196,839
15,000
2,000
17,000
17,000
213,839
7,536
18,900
83,500
14,100
124,036
124,036
$ 89,803
$ (107,036)
-54%
March 2023
CITY OF ANDOVER
Fund Balance Analysis - TIF Project Accounts
Districts 1-1 & 1-2
Budgeted at:
$450k each $350k each
" $25,000 has been designated for landscaping improvements in the Building Fund for Andover Station Outlot E.
Year
Property Owned by Andover EDA
TIF
2600 138th Ave NW (quad)
Potential
TIF
Potential Projects
Project Account
Year
Land Sales
Expenses
4-plex
2-plex
Interest Fund Balance
2017
12/31/2022
rental
2018
2527 Bunker Lake Blvd NW (quad)
rental
$ 875,035
2023
400,000
(65,000)
(450,000)
(350,000)
- 410,035
2024
150,000
(75,000)
(450,000)
rental
- 35,035
2025
-
(35,035)
2503 138th Ave NW (twin)
rental
- (0)
550,000
(175,035)
(900,000)
(350,000)
-
Budgeted at:
$450k each $350k each
" $25,000 has been designated for landscaping improvements in the Building Fund for Andover Station Outlot E.
Year
Property Owned by Andover EDA
Purchased
2600 138th Ave NW (quad)
vacant lot
2011
2543 Bunker Lake Blvd NW (quad)
vacant lot
2017
2557 Bunker Lake Blvd NW (quad)
vacant lot
2017
2526 138th Ave NW (quad)
vacant lot
2017
2542 138th Ave NW (quad)
rental
2018
2527 Bunker Lake Blvd NW (quad)
rental
2020
2556 138th Ave NW (quad)
rental
2020
2513 Bunker Lake Blvd (twin)
rental
2020
2621 Bunker Lake Blvd (quad)
vacant lot
2020
2607 Bunker Lake Blvd (quad)
rental
2020
29-32-24-42-0006 Round Lake Blvd
vacant lot
2021
2503 138th Ave NW (twin)
rental
2022
March 2023
I Redevelopment District 1-5 Arbor Oaks I fund 4515
15 yr Pay -As -You -Go Note: $540,000 TIF Contract Tax TIF
Potential TIF Potential Increment Project Account
Year Land Sales Expenses Projects Revenue Xfer In /(Out) Fund Balance
12/31/2022
2023
- (7,324)
(65,918)
73,242 -
-
2024
- (7,324)
(65,918)
73,242 -
-
2025
- (7,324)
(65,918)
73,242 -
-
2026
- (7,324)
(65,918)
73,242 -
-
2027
- (7,324)
(65,918)
73,242 -
-
2028
- (7,324)
(65,918)
73,242 -
-
2028 final year of Pay -As -You -Go Note
2029
- (7,324)
-
73,242 -
65,918
2030
- (7,324)
-
73,242 -
131,836
2031
- (7,324)
-
73,242 -
197,754
2032
(7,324)
-
73,242 -
263,672
2033
(7,324)
-
73,242 -
329,590
2034
- (7,324)
-
73,242 -
395,508
2035
- (7,324)
-
73,242 -
461,426
2036
- (7,324)
-
73,242 -
527,344
2037
- (7,324)
-
73,242 -
593,262
2038
- (7,324)
-
73,242 -
659,180
2039
- (7,324)
-
73,242
725,098
2039 final year
fund 4516
Economic Development
District 1-6 TE Connectivity
Tax
TIF
Potential TIF
Potential
Increment
Project Account
Year
Land Sales Expenses
Projects
Revenue Interest
Fund Balance
12/31/2022
$ (43,109)
2023
30,740
(12,369)
2024
30,740
18,371
2024 final year
Revenues
Rent
Interest
Total Revenue
Expenditures
Salaries & Benefits
Departmental
Operating
Professional Services
Equipment
Total Expenditures
Net increase (decrease) in fund balance
Fund Balance - January 1
Fund Balance - December 31
2600 138th Ave NW (quad)
2543 Bunker Lake Blvd NW (quad)
2557 Bunker Lake Blvd NW (quad)
2526 138th Ave NW (quad)
2542 138th Ave NW (quad)
2527 Bunker Lake Blvd NW (quad)
2556 138th Ave NW (quad)
2513 Bunker Lake Blvd (twin)
2621 Bunker Lake Blvd (quad)
2607 Bunker Lake Blvd (quad)
29-32-2442-0006 Round Lake Blvd
2503 138th Ave NW (twin)
CITY OF ANDOVER
TIF Rental Properties
2017
2018
2019
2020
2021
2022
$ 3,677.75
$80,711.25
$88,903.00
$100,147.00
$204,476.00
$155,629.25
10.04
720.50
2,467.00
2,532.00
27.00
(3,903.00)
3,687.79
81,431.75
91,370.00
102,679.00
204,503.00
151,726.25
8.96
51.23
1,976.37
324.00
1,275.00
-
608.64
24,157.09
31,691.00
39,978.00
81,062.00
80,629.59
418.00
20,068.85
16,813.00
44,161.00
84,747.00
68,893.99
1,035.60
44,277.17
50,480.37
84,463.00
167,084.00
149,523.58
2,652.19
37,154.58
40,889.63
18,216.00
37,419.00
2,202.67
2,652.19
39,806.77
80,696.40
98,912.40
136,331.40
$ 2,652.19
$39,806.77$80,696.40
$ 98,912.40
$136,331.40
$138,534.07
Purchased
vacantlot
2011
vacantlot
2017
vacantlot
2017
vacantlot
2017
rental
2018
rental
2020
rental
2020
rental
2020
vacantlot
2020
rental
2020
vacantlot
2021
rental
2022