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Home My WebLink AboutEDA - September 19, 20231685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 55304 • (763) 755-5100 FAX (763) 755-8923 • WWW.ANDOVERMN.GOV ECONOMIC DEVELOPMENT AUTHORITY MEETING September 19, 2023 6:00 p.m. Conference Room A and B 1. Call to Order — 6:00 p.m. 2. Approval of Minutes (June 20,2023 Regular) 3. Andover Home Improvement Grant Program Update 4. Review Commercial Project Activity 5. Redevelopment Updates (Verbal -no staff report attached) 6. Review EDA Special Revenue Fund & Tax Increment Projects Capital Project Fund 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 Authority CC: Jim Dickinson, City FROM: Michelle Harmer, Deputy City SUBJECT: Approval of Minutes DATE: September 19, 2023 INTRODUCTION The following minutes were provided by Staff reviewed by Administration and submitted for EDA approval: June 20, 2023 Regular DISCUSSION The minutes are attached for your review. ACTION REQUIRED The EDA is requested to approve the above minutes. Respectfully submitted, QVI Michelle Harmer Deputy City Clerk Attach: Minutes 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 ANDOVER ECONOMIC DEVELOPMENTAUTHORITYMEETING— JUNE 20, 2023 -MINUTES The Meeting of the Andover Economic Development Authority was called to order by President Sheri Bukkila June 20, 2023, 6:02 p.m., at the Andover City Hall, 1.685 Crosstown Boulevard NW, Andover, Minnesota. Commissioners Present: Jamie Barthel, Ted Kari Kafer Commissioners Absent: Greg Mueller Also present: EDA Executive APPROVAL OF May 16, 2023, Regular Meeting: Correct as Motion by Nelson, ayes and 1 absent ( Randy Nelson, and , Joe Janish :er. Dave Berkowitz minutes as written. Motion carried 6 TO AUTO REPAIR Mr. Janish indicated Mitchell Webb, owner of an existing automotive repair facility in Andover is in attendance The business is currently leasing space and would like to purchase property in Andover for a new automotive repair facility. Mr. Janish explained the property Mr. Webb is interested in purchasing is zoned Shopping Center (SC). This zoning requires 25,000 square feet of retail with auto repair. The lot is not conducive to that size nor is it the business plan for Mr. Webb. Mr. Janish asked if the EDA would support the City considering a City Code modification to the SC zoning. Commissioner Butler indicated by changing the Code, the change would be in effect for all SC zoning areas. Mr. Janish stated automotive repair requires a Conditional Use Permit in all zoning districts. President Bukkila asked why the business is allowed in its current location. Mr. Janish replied they were granted a Special Use Permit in 1999. Andover Economic Development Authority Meeting Minutes — June 20, 2023 Page 2 Commissioner Kafer asked if there is a reason for a code amendment versus rezoning the property. Mr. Janish answered the size of the property. 4 Mr. Janish indicated there are two ways to look at this, either pull the automobile repair out of 5 the automobile service station, allow for it to identify as its own item and have its own 6 regulations or modify the required 25,000 square feet of retail space, whether that is lowering or 7 eliminating the square footage. The EDA agreed the 25,000 square foot of retail space should be 8 modified. 10 Mr. Dickinson suggested focusing on the definitions, the size and requiring a CUP. The EDA 11 agreed. 12 13 Mr. Dickinson asked if there is a desire of the EDA to recommend this item to the Planning and 14 Zoning Commission to review definitions and size of retail space in order to make parcels viable 15 for this type of service. 16 17 President Bukkila stated she doesn't think SC is the district for automotive repair. Commissioner 18 Barthel agreed, but also feels this parcel is zoned SC and should be kept that way until it is 19 designated something else. Commissioner Butler agreed with Commissioner Barthel and is open 20 to reviewing the definition. Commissioner Butler questions if that parcel should be SC, or 21 should it be zoned General Business. 22 23 Mr. Dickinson reviewed the EDA direction of sending this to the Planning and Zoning 24 Commission for review. 25 26 Mitchell Webb, 3657 Bunker Lake Boulevard stated the business has been in Andover for 8 27 years and they would like to stay in the community. They have not had a noise issue at their 28 current location and have good relations with the neighbors. They have two other locations, 29 Blaine and Big Lake and would like to stay in Andover. 30 31 ANDOVER HOME IMPROVEMENT GRANT PR 0 GRAMIPR 0 GRAM UPDATES 32 33 Mr. Janish indicated 23 applications have been received, based on property values only three of 34 the applications qualify. Mr. Janish stated driveways and siding are the two most frequent 35 requests. 36 37 Mr. Janish stated eligible properties have been located through GIS and letters will be sent to the 38 property owners for target promoting of the program. 39 40 Mr. Janish indicated two of the applicants have signed their agreements and are ready to go. 41 42 REDEVELOPMENT UPDATES 43 44 Mr. Dickinson indicated a 4-plex on 138`h Avenue is interested in selling. A twin on 138th Avenue 45 is owner occupied and is not interested in selling. Three properties owned by the same owner have Andover Economic Development Authority Meeting Minutes —June 20, 2023 Page 3 1 been on the radar and may be worth pursuing. Staff was contacted by the owner of the 6-plex. 2 3 The area was discussed. 4 5 COMMERCIAL PROJECT ACTIVITY 6 7 Mr. Janish updated on the following: 8 9 Car Wash 71" Avenue and Bunker Lake Boulevard — Staff has been approached by companies 10 looking at placing a car wash in the Neighborhood Commercial District at the intersection of 7`h 11 Avenue and Bunker Lake Boulevard. Staff would like to have a conversation with the EDA to 12 determine interest/support in supporting a City Code amendment that would allow this. 13 14 Mr. Janish indicated it would be a full-service car wash. Zoning of Neighborhood Business does 15 not allow for a car wash, there would need to be a code amendment. 16 17 The EDA is not interested in supporting a code amendment change for a car wash at this location. 18 19 Mr. Janish indicated there is interest in a convenience store on this property, however Code 20 requires two acres, and the parcel is less than two acres. A code amendment would need to be 21 done to allow for a convenience store at this location. 22 23 Commissioner Barthel stated he feels this area is a good location for a convenience store. 24 25 Clocktower Commons, 15190 Bluebird Street — Staff have met with the owner/developer who is 26 working on plans to build on the final pad. The developer is aware and plans to have a clock on 27 the building. 28 29 Interest in Hughes Industrial Park — Staff received an email from a business that would like to 30 build another building. The business would have to go through the Interim Use and Commercial 31 Site Plan process. 32 33 ABC Mini-Storage/T-Squared (self -storage), 13624 Hanson Boulevard — The west building is 34 up, and they are starting to grade the parking lot. The buildings will have brick over the steel and 35 stucco. 36 37 RestauranWFast Food — Currently staff is aware of companies continuing to look for land to 38 locate to in Andover. 39 40 TCF Site — At this time the city has approved two conditional use permit applications related to 41 having a drive through at this location. These two restaurants would be Chipotle and Noodles and 42 Company. The applicant is working with the Coon Creek Watershed District on infiltration at the 43 site. Staff received an email from the applicant and the infiltration issue has been resolved with 44 the Coon Creek Watershed District. 45 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 Andover Economic Development Authority Meeting Minutes — June 20, 2023 Page 4 Taco Bell, 7th Avenue and Bunker Lake Boulevard — A Certificate of Occupancy has been issued and the business is serving customers. Westgate Senior Living, 71h Avenue and Bunker Lake Boulevard — The building has received their Certificate of Occupancy. Aurora Vista, 71 Avenue and Bunker Lake Boulevard — Staff received a tour of the project. The third floor of the west wing has been insulated and sheet rocking has begun. A framing inspection is taking place on the second floor of the west wing this week. Finishes have been installed on the third floor of the east wing. Siding continues to be installed. Retaining walls have been installed around the building. The curb, gutter and sidewalks have been placed, with pavement going down next week in the parking lot. They are planning on a 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 there were 140 new housing starts. In 2022 there were 100 permits issued for new housing, 1 apartment (150 units) and an assisted living facility (32 units). Currently 32 permits have been issued for single-family homes. Fields of Winslow Cove — City Council has approved the Final Plat for Fields of Winslow Cove 2"d Addition with 36 lots on the west side of Prairie Road. Grading has started with streets and utility work expected in July. 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 this item and provided an extension to the applicant in order to allow the applicant to review how a second access could be provided for Phase 3. The applicant has provided access and on June 6, 2023 the City Council approved the PUD amendment. City staff continues to work with the applicant on the primary plat. Legacy Christian Academy — The commercial site plan has been approved with the building permits issued. Anoka County 911 and Radio Building - The footings are halfway around the building with the foundation walls placed right behind. Foundation insulation has been installed as backfilling has started to take place. Grace Lutheran Church, 13655 Round Lake Boulevard — Staff continues to work with the applicant on the Commercial Site Plan. Andover Economic Development Authority Meeting Minutes —June 20, 2023 Page 5 1 Constance Free Church, 16150 Crosstown Boulevard — Is remodeling part of their facility, 2 including revamping the entrance to the building and screening some mechanical equipment they 3 installed. City Council amended the City Code to allow for taller fences in certain situations. Staff 4 has stamped the commercial site plan. Building permits have been issued. White Rabbit Kitchen, 15190 Bluebird Street— They are moving into the former META location. The building permit has been issued. 9 Overall Marketing — City staff continues to work with parties interested in investing in Andover 10 and marketing all commercial sites. Staff continues to work with Anoka County Regional 11 Economic Development (ACRED) on marketing of the community and Anoka County. 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 6:53 p.m. 21 22 Respectfully submitted, 23 24 Michelle Hartner, Recording Secretary 1C I T Y 0 F._..:Z. 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 Commiss Jim Dickinson, Executi, Joe Janish, Community Andover Home Improvement Grant Program Updates September 19, 2023 INTRODUCTION The Andover Home Improvement Program is considered "active". The information was sent by newsletter and was available on the City of Andover's website. A facebook post was also conducted on the City of Andover Facebook page. As of September 12, 2023 the City of Andover has received 30 applications, and spoke with 5 others that did not qualify based on home values. Based on program criteria, 8 homes have qualified. A chart below shows the values of the homes requesting funds: The following items are the most requested improvements: - 13 Requests for siding. - 12 Requests for Driveways or sidewalks. - 10 Requests for Front Door, Storm Door, Garage Door - 10 Requests for Fascia 1 1 Alter Chimney Sidelight Roollineof Window Repiair.Tuck Front Door,Storm Windowby Columnsat Brick Stone. Froncof pen anent Driveimyor Boxes, Xreeningal 1 point, Retaining Door, Garape Door Front Door Front Door or Slakes Mouse landstaping, Sidewalk Snorters Utility8okes Roof Siding painting Soffit Facia Gotten Windows Repointing, Deck porch Well 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 f i 1 1 1 1 1 1 1 1 1 1 I 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 10 2 1 5 1 5 12 0 0 2 13 3 9 10 9 9 0 1 0 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 Joe Janish, Community Development Review Commercial Project Activity September 19, 2023 Staff will provide a progress report on ongoing commercial project activity at the meeting. ANDOVER COMMERCL4L 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. Costs came back higher then expected as they looked at construction costs and are currently re-evaluating the building. 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 buildings will have brick over the steel and stucco. Staff has met with the project manager related to site improvements and continue to work with them to see progress on the buildings and site. • Restaurants/Fast Food — Currently staff is aware of companies continuing to look for land to locate in Andover. 0 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. Aurora Vista (Andover Crossings) — Room finishes are taking place within the second phase. Rom finishes are near completion on phase one. Elevators have been installed with wiring occurring. Landscapingisod is near completion. • 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. Staff has been in discussions with the former applicant related to the site. 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, 45 permits have been issued for single-family homes/ townhomes. • 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. The roundabout is under construction and expected to be complete in late October. • 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). City staff continues to work with the applicant on the Preliminary Plat. • Legacy Christian Academy —Tip up panels are near completion, working on setting span- crete and bar joists. • Anoka County 911 and Radio Building —City Council approved a request for a fuel tank to be on the property on August 16, 2022. Concrete is being places on the interior. Framing crews have started framing the upper exterior walls, so the roof can start soon. • Grace Lutheran Church — A Conditional Use Permit was granted. Staff continues to work with the applicant on the Commercial Site Plan. They received an extension for their subordinate classrooms. • Constance Free Church — Is 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 has stamped the commercial site plan. Building permits have been issued and siding and EFIS work is taking place. 0 White Rabbit - Moving into the former META location. The building permit has been issued. They have started to call for final inspections. 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. • F OWR^ AND& In 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: EDA Special Revenue Fund & Tax Increment Projects Capital Project Fund DATE: September 19, 2023 INTRODUCTION 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. EDA Budget Detail Worksheets 3. Tax Increment Projects Fund Statement of Revenues, Expenditures and Changes in Fund Balance 4. August 2023 TIF District Status 5. TIF Rental Properties ACTION REQUESTED a presentation, discuss, and provide direction to staff. submitted, C- 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 $ 143,524 $ 196,839 $ 196,839 $ 96,203 22,447 15,000 15,000 15,000 (5,432) 2,000 2,000 2,000 953 17,968 17,000 17,000 17,000 150,000 167,968 311,492 2,757 5,818 65,902 12,558 27,618 114,653 114,653 $ 196,839 $ 53,315 37% 17,000 213,839 7,536 18,900 83,500 14,100 124,036 124,036 $ 89,803 $ (107,036) -54% 17,000 17,000 213,839 113,203 7,536 Actual 1 Adopted 1 Estimate 1 Adopted 1 Description 2022 2023 2023 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 $ 143,524 $ 196,839 $ 196,839 $ 96,203 22,447 15,000 15,000 15,000 (5,432) 2,000 2,000 2,000 953 17,968 17,000 17,000 17,000 150,000 167,968 311,492 2,757 5,818 65,902 12,558 27,618 114,653 114,653 $ 196,839 $ 53,315 37% 17,000 213,839 7,536 18,900 83,500 14,100 124,036 124,036 $ 89,803 $ (107,036) -54% 17,000 17,000 213,839 113,203 7,536 7,536 18,500 19,400 79,500 63,600 12,100 13,100 117,636 117,636 $ 96,203 $ (100,636) -51% 103,636 103,636 $ 9,567 $ (86,636) -90% Fund: Economic Development Authority Activity Type/Code: Special Revenue Expenditure Highliahts 2024 continues the Home Improvement Program to assist in exterior home improvements within the City ($30,000). 2023 includes a new Home Improvement Program to assist in exterior home improvements within the City ($50,000). 2022 included the medians along Bunker Lake Boulevard to be filled in with concrete ($150,000) through a transfer from the General Fund. It also included a monument entrance sign. EDA Budget provides for ongoing maintenance around the Andover Station Development area. Department Head: City Administrator General Activity Description To provide for the quality development of commercial and industrial properties to ensure a strong, viable and diversified tax base. Process Used Promotion and expansion of the commercial and industrial tax base through the development and redevelopment of land. The EDA is the primary authority involved in managing the City's four Tax Increment Financing (TIF) Districts. The EDA monitors and initiates the activities within the TIF Districts to reach the goals of the TIF plans. ADOPTED 2024 BUDGET CITY OF ANDOVER, MINNESOTA CITY OF ANDOVER Budget Worksheet -2024 EDA 2110-46500 Account Actual Actual Actual Actual Actual Budget Estimate Requested Number Description 2018 2019 2020 2021 2022 2023 2023 2024 Rev_enuess Charges for Services 54370 Tax Increment Administration F 7,003 7,096 26,006 27,528 22,447 15,000 15,000 15,000 Charges for Services 7,003 7,096 26,006 27,528 22,447 15,000 15,000 15,000 investment Income 56910 Interest Earned 4,148 4,111 2,491 1,007 2,148 2,000 2,000 2,000 56920 Valuation Adjustment 176 2,120 (56) (1,447) (7,580) Invesnvent Income 4,324 6,231 2,435 (440) (5,432) 2,000 2,000 2,000 Miscellaneous Revenue 58100 Refunds & Reimbursements 177 177 443 1,308 953 Miscellaneous Revenue 177 177 443 1,308 953 Other Financing Sources 59100 Operating Transfers In- - - 150,000 Other Financing Sources 150,000 Total Revenues 11,504 13,504 28,884 28,396 167,968 17,000 17,000 17,000 Expenditures Salaries & Benefits 60110 Salaries -Regular 6,887 129 405 611 698 - - - 60140 Salaries-Council/Commissio 2,560 2,280 2,800 1,720 1,520 7,000 7,000 7,000 60210 FICA 528 158 197 143 134 434 434 434 60220 Medicare 131 37 46 34 31 102 102 102 60310 Health Insurance 739 208 241 1,176 275 - - - 60320 Dental Insurance 35 8 9 8 8 - - - 60340 Long -Term Disability 20 4 4 3 3 - - - 60410 PERA 500 21 31 25 26 - - - 60420 Nationwide Retirement 148 46 45 44 42 - - - 60520 Workers Comp 245 5 14 23 19 Salaries & Benefits 11,793 2,896 3,792 3,787 2,756 7,536 7,536 7,536 Depamnentel 61005 Supplies - General - 95 150 1,053 - 2,000 2,000 2,000 61130 R & M Supplies -Landscape - - - - - 10,000 7,500 7,500 61310 Meals/Lodging 175 15 - - 100 700 700 700 61315 Continuing Education - 295 - - - 1,500 1,500 1,500 61320 Annual Dues/Licenses 1,308 1,031 1,043 1,043 1,160 1,500 2,000 1,500 61405 Postage 140 135 2,617 201 2,759 1,000 3,000 4,000 61410 Transportation/Mileage 2,291 1,800 1,800 1,800 1,800 2,200 1,800 2,200 Departmental 3,914 3,371 5,610 4,097 5,819 18,900 18,500 19,400 Operating 62005 Electric 2,689 3,000 3,130 1,094 3,229 7,000 5,000 6,000 62010 Water 789 17 330 924 177 - - - 62100 Insurance 4,943 6,099 4,071 3,466 7,552 5,500 5,500 5,500 62200 Rentals - 2,000 - - - - - - 62210 Computer Services 1,600 1,600 1,600 1,600 1,600 1,600 1,600 1,600 Operating 10,021 12,716 9,131 7,084 12,558 14,100 12,100 13,100 Professional Services 63005 Professional Services 4,045 2,854 2,595 1,989 2,682 6,000 6,000 6,100 63010 Contractual Services 28,093 39,318 20,414 20,924 89,741 73,000 70,000 53,000 63015 Attorney - - 307 - 180 2,000 1,500 2,000 63025 Publishing 967 992 667 971 917 2,500 2,000 2,500 63100 R & M Labor -General 1,025 Professional Services 33,105 43,164 25,008 23,884 93,520 83,500 79,500 63,600 Cannel Outlay 65300 Improvements 30,151 - - - - Capital Outlay 30,151 Tote[ Expenditures 58,833 62,147 73,692 38,852 114,653 124,036 117,636 103,636 Net Increase (Decrease) in FB (47,329) (48,643) (44,808) (10,456) 53,315 (107,036) (100,636) (86,636) Fund Balance Beginning 294,760 247,431 198,788 153,980 143,524 196,839 196,839 96,203 Ending 247,431 198,788 153,980 143,524 196,839 89,803 96,203 9,567 9114/2023 City of Andover Budget Detail for all Object Codes (List each expense account individually with sp,. Department/ Cost Center: Economic Development - 2110 Object Code Explanation Amount Requested 2023 2024 Budget Adjustment Total 2024 Request Priority 1 through 5 1 -high : 5 -low 61005 SUPPLIES -GENERAL 2,000 2,000 paper/promotions supplies 0 0 0 0 Total 2,000 0 2,000 61130 R & M SUPPLIES - LANDSCAPE 10,000 (2,500) 7,500 median expenditures 0 0 0 0 Total 10,000 (2,500) 7,500 61310 MEALS / LODGING 700 700 Special events participation - Staff/Commission 0 0 0 0 Total 700 0 700 61315 CONTINUING EDUCATION 1,500 1,500 Training opportunities - Staff/Commission 0 0 0 0 Total 1,500 0 1,500 61320 ANNUAL DUES / LICENSES 0 0 Chamber of Commerce Dues 500 500 -Anoka Area & Metro North 1,000 1,000 0 0 Total 1,500 0 1,500 61405 POSTAGE 1,000 1,000 Newsletter Publication & Mailings 0 0 North Metro Guide 0 3,000 3,000 Total 1,000 3,000 4,000 61410 TRANSPORTATION / PARKING 2,200 2,200 Staff/Commision Travel 0 0 Executive Director % allocation 0 0 0 0 Total 2,200 0 2,200 62005 ELECTRIC 7,000 (1,000) 6.000 Andover Station Area Street Light Cost Sharing 0 0 0 0 Total 7,000 (1,000) 6,000 62100 INSURANCE 5,500 5,500 Risk Management/LMC1T Premiums 0 0 0 0 Total 51500 0 5,500 62210 COMPUTER SERVICES 1,600 1,600 Central systems.Server/email(maging/etc. 0 0 0 0 Page / of 2 City of Andover Budget Detail for all Object Codes (List each exnense a=urt individually with specific cost detail) Department I Cost Center: Economic Development - 2110 Object Code Explanation Amount Requested 2023 2024 Budget Adjustment Total 2024 Request Priority 1 through 5 1 -high : 5 -low Total 1,600 0 1,600 63005 PROFESSIONAL SERVICES 3,500 3,500 Audit - LB 2,500 100 2,600 0 0 Total 61000 100 6,100 63010 CONTRACTUAL SERVICES 1,000 1,000 Landscaping @ Andover Station - assoc membership 2,000 2,000 Maintenance - Andover Station Area 10,000 10,000 Partnership opportunities - EDA Discretionary 10,000 10,000 Home Improvement Program 50,000 (20,000) 30,000 0 0 0 0 Total 73,000 (20,000) 53,000 63015 ATTORNEY 2,000 2,000 0 0 0 0 Total 2,000 0 2,000 63025 PUBLISHING 2,500 2,500 Tax Increment Reporting 00 0 0 Total 2,500 0 2,500 Grand Total for all Expenditures $116,500 ($20,400) $96,100 Page 2 of 2 City of Andover Capital Projects Funds Tax Increment Projects Statement of Revenues, Expenditures and Changes in Fund Balance Fund Balance, January 1 Revenues Tax Increments Investment Income Miscellaneous Total Revenues: Other Sources Transfers In Total Revenues and Other Sources Total Available: Expenditures Other Services and Charges Capital Outlay Total Expenditures: Other Uses Operating Transfers Out Total Expenditures and Other Uses: $ 1,406,384 $ 970,460 94,701 (30,098) 155,629 220,232 220,232 1,626,616 656,156 656,156 656,156 Fund Balance, December 31 $ 970,460 Change in Fund Balance $ (435,924) -31% 100,000 20,000 520,000 640,000 640,000 1,610,460 258,000 800,000 1,058,000 1,058,000 $ 552,460 $ (418,000) -43% $ 970,460 100,000 20,000 120,000 240,000 240,000 1,210,460 258,000 258,000 258,000 $ 952,460 $ (18,000) -2% $ 952,460 100,475 20,000 270,000 390,475 390,475 1,342,935 299,893 800,000 1,099,893 1,099,893 $ 243,042 $ (709,418) -74% Actual 1 Adopted 1 Estimate 1 1 Adopted Description 2022 2023 2023 2024 Fund Balance, January 1 Revenues Tax Increments Investment Income Miscellaneous Total Revenues: Other Sources Transfers In Total Revenues and Other Sources Total Available: Expenditures Other Services and Charges Capital Outlay Total Expenditures: Other Uses Operating Transfers Out Total Expenditures and Other Uses: $ 1,406,384 $ 970,460 94,701 (30,098) 155,629 220,232 220,232 1,626,616 656,156 656,156 656,156 Fund Balance, December 31 $ 970,460 Change in Fund Balance $ (435,924) -31% 100,000 20,000 520,000 640,000 640,000 1,610,460 258,000 800,000 1,058,000 1,058,000 $ 552,460 $ (418,000) -43% $ 970,460 100,000 20,000 120,000 240,000 240,000 1,210,460 258,000 258,000 258,000 $ 952,460 $ (18,000) -2% $ 952,460 100,475 20,000 270,000 390,475 390,475 1,342,935 299,893 800,000 1,099,893 1,099,893 $ 243,042 $ (709,418) -74% Fund: 4501 Cost Center: Tax Increment Projects Activity Type/Code: Capital Projects Expenditure Hiehliehts 2024 Budgeted expenditures include: Redevelopment Site Purchases $ 450,000 Pay -As -You -Go Note 69,893 Rental Property Expenditures 130,000 TIF Administration 75,000 $ 724,893 2023 Budgeted expenditures include: Redevelopment Site Purchases $ 800,000 Pay -As -You -Go Note 65,000 Rental Property Expenditures 150,000 TIF Administration 43,000 $ 1,058,000 TIF District 1-1 was decertified in 2012 and TIF District 1-2 was decertified in 2014. TIF District 1-3 and TIF District 1-4 was decertified in 2016. Department Head: Finance Director General Activity Description The Tax Increment Projects Fund accounts for activities in TIF districts 1-1, 1-2, 1-3, 1-4, 1-5 and 1-6 and all TIF land sales and expenditures to reach the goals of the TIF district plans. Process Used Promotion and expansion of the commercial / industrial tax base through redevelopment of land. ADOPTED 2024 BUDGET CITY OF ANDOVER, MINNESOTA August 2023 CITY OF ANDOVER Fund Balance Analysis - TIF Project Accounts Districts 1-1 & 1-2 TIF Potential TIF Potential Projects Project Account Year Land Sales Expenses 4-plex 2-plex Interest Fund Balance 12/31/2022 2023 - (65,000) 2024 150,000 (100,000) (450,000) 2025 400,000 (110,035) 550,000 (275,035) (450,000) Budgeted at: $450k each $ 875,035 810,035 (350,000) 60,035 (350,000) (0) (700,000) $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 August 2023 2028 Redevelopment District 1-5 Arbor Oaks I fund 4515 15 yr Pay -As -You -Go Note: $540,000 TIF Contract Tax TIF 69,893 Potential TIF Potential Increment Project Account Year Land Sales Expenses Projects Revenue Mar In /(Out) Fund Balance 12/31/2022 - 188,712 2032 $ 2023 - (6,989) (62,904) 69,893 - - 2024 - (6,989) (62,904) 69,893 - - 2025 - (6,989) (62,904) 69,893 - - 2026 - (6,989) (62,904) 69,893 - - 2027 - (6,989) (62,904) 69,893 - - 2028 - (6,989) (62,904) 69,893 - - 2028 final year of Pay -As -You -Go Note 2029 - (6,989) - 69,893 - 62,904 2030 - (6,989) - 69,893 - 125,808 2031 - (6,989) - 69,893 - 188,712 2032 - (6,989) - 69,893 - 251,616 2033 - (6,989) - 69,893 - 314,520 2034 - (6,989) - 69,893 - 377,424 2035 - (6,989) - 69,893 - 440,328 2036 - (6,989) - 69,893 - 503,232 2037 - (6,989) - 69,893 - 566,136 2038 - (6,989) - 69,893 - 629,040 2039 - (6,989) - 69,893 - 691,944 2039 final year Economic Development District 1-6 TE Connectivity fund 4516 Tax TIF Potential TIF Potential Increment Project Account Year Land Sales Expenses Projects Revenue Interest Fund Balance 12/31/2022 $ (43,109) 2023 30,582 (12,527) 2024 30,582 18,055 2024 final year CITY OF ANDOVER TIF Rental Properties 2600 138th Ave NW (quad) 2017 2018 2019 2020 2021 2022 Aug 2023 2017 2526 138th Ave NW (quad) vacant lot 2017 2542 138th Ave NW (quad) rental 2018 Revenues rental 2020 2556 138th Ave NW (quad) rental 2020 2513 Bunker Lake Blvd (twin) rental Rent $ 3,677.75 $80,711.25 $88,903.00 $100,147.00 $204,476.00 $155,629.25 $ 77,407.75 Interest 10.04 720.50 2,467.00 2,532.00 27.00 (3,903.00) 532.00 Total Revenue 3,687.79 81,431.75 91,370.00 102,679.00 204,503.00 151,726.25 77,939.75 Expenditures Salaries & Benefits - - - - - - - Departmental 8.96 51.23 1,976.37 324.00 1,275.00 - - Operating 608.64 24,157.09 31,691.00 39,978.00 81,062.00 80,629.59 60,945.31 Professional Services 418.00 20,068.85 16,813.00 44,161.00 84,747.00 68,893.99 37,903.83 Equipment - - - - - - - Total Expenditures 1,035.60 44,277.17 50,480.37 84,463.00 167,084.00 149,523.58 98,849.14 Net increase (decrease)in fund balance 2,652.19 37,154.58 40,889.63 18,216.00 37,419.00 2,202.67 (20,909.39) Fund Balance - January 1 2,652.19 39,806.77 80,696.40 98,912.40 136,331.40 138,534.07 Fund Balance -December 31 $ 2,652.19 $39,806.77 $80,696.40 $ 98,912.40 $136,331.40 $138,534.07 $117,624.68 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 vacantlot 2021 2503138th Ave NW(twin) rental 2022