HomeMy WebLinkAboutEDA - September 21, 2010
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1685 CROSSTOWN BOULEVARD N,W, . ANDOVER, MINNESOTA 55304. (763) 755-5100
FAX (763) 755-8923 . WWW,CLANDOVER,MN,US
ECONOMIC DEVELOPMENT AUTHORITY
MEETING
September 21, 2010
6:00 p.m.
Conference Rooms A & B
1. Call to Order - 6:00 p.m.
2. Approval of Minutes (August 17,2010)
3. Project Status Report
4. Senior Housing Discussion
5. TIF Districts & EDA Budget Update
6. Other Business
7. Adjournment
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1685 CROSSTOWN BOULEVARD N,W, . ANDOVER, MINNESOTA 55304 . (763) 755-5100
FAX (763) 755-8923 . WWW,CLANDOVER,MN,US
TO: Economic Development Authori
CC: Jim Dickinson, Executive Director
FROM: Michelle Hartner, Deputy City Clerk
SUBJECT: Approval of Minutes
DATE: September 21, 2010
INTRODUCTION
The following minutes were provided by TimeSaver for EDA approval:
August 17,2010 Regular Meeting
DISCUSSION
The minutes are attached for your review.
ACTION REOUIRED
The EDA is requested to approve the above minutes.
Respectfully submitted,
Y'lJUWjA,-Jl()v~
Michelle Hartner
Deputy City Clerk
Attach: Minutes
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6 ANDOVER ECONOMIC DEVELOPMENT AUTHORITY MEETING
7 AUGUST 17,2010 - MINUTES
8
9
10 A Meeting of the Andover Economic Development Authority was called to order by President Mike
11 Gamache, August 17,2010,6:00 p.m., at the Andover City Hall, 1685 Crosstown Boulevard NW,
12 Andover, Minnesota.
13
14 Present: Commissioners Sheri Bukkila, Don Jacobson, Mike Knight
15 (arrived at 6:25 p.m.), Robert Nowak, Julie Trude, and Joyce
16 Twistol
17 Absent: None
18 Also present: Executive Director, Jim Dickinson
19 Others
20
21
22 APPRO V AL OF MINUTES
23
24 July 20,2010: Correct as amended.
25
26 The spelling of a name was incorrect on page two. Mr. Dickinson indicated he would correct.
27
28 Motion by Trude, Seconded by Jacobson, approval of the Minutes as written. Motion carried
29 unanimously.
30
31
32 PROJECT STATUS REPORT
33
34 Mr. Dickinson reviewed the projects in the works with the Commission.
35
36 Kwik Trip:
37
38 Mr. Dickinson updated the Commission on the status ofKwik Trip.
39
40 2010 Special EDA Events:
41
42 Music at Andover Station Pergola:
43 It was suggested by Commissioner Knight to Mr. Dickinson to plan more events at Andover
44 Station. The rest of the Commission concurred. The Commission felt Walgreens was a great
45 help. They felt it may be better to wait until next summer to do it because of the issue with
46 weather changes. Mayor Gamache thought it would be fun to have an event the Thursday
47 evening before a home football game. Mr. Dickinson noted that there are a couple of other areas
48 that could be used as alternate sites in case of poor weather.
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Andover Economic Development Authority Meeting
Minutes - August 17, 2010
Page 2
1 Commissioner Twistol thought it helped a lot to have advertising all over.
2
3 Mr. Dickinson stated they will look at some more dates in fall or spring for next year.
4
5 Community Bulletin Board Sign:
6 Mr. Dickinson stated they received two quotes for the electronic (LED) signs. The quotes show a
7 potential cost range between $40,000 and $50,000 per sign, depending on which options are
8 chosen.
9
10 Commissioner Jacobson asked ifthey had money in the EDA budget to spend on a community
11 bulletin board sign and did the EDA Board want to do this.
12
13 Mr. Dickinson reviewed the pricing information with the Commission. The Commission
14 discussed possible locations of the sign in the City.
15
16 The Commission liked an amber LED sign with three lines and felt this would clean up the
17 signage in the ditches in the City.
18
19 Commissioner Trude wondered if they should have more than one sign in the City. She
20 wondered if the Community Center would want to get one. Mr. Dickinson stated a second one
21 would probably be less, around $35,000 since the software will already be purchased and he
22 thought the Community Center was talking with the YMCA to get one on their site.
23
24 Commissioner Trude wondered what the annual cost would be to maintain the signs. Mr.
25 Dickinson stated the maintenance per year for two signs would likely be around $8,000.
26
27 Commissioner Knight arrived at 6:25 p.m.
28
29 Commissioner Knight thought they needed to put out some City welcome signs also.
30
31 Dynamic Sealing Technologies:
32 Mr. Dickinson reviewed the site project plan with the Commission. In regard to lot 3, they may
33 not be ready to build but would want to look at purchasing lot 2.
34
35 Andover Station North Ball Fields:
36 Clear Wireless will be back to request swapping out a light post for an antenna in the park which
37 will take the place of the one proposed in Lions Park.
38
39
40 TIF DISTRICT FINANCIAL UPDATE & EDA BUDGET DISCUSSION
41
42 Mr. Dickinson stated the EDA is requested to receive a Tax Increment Financing (TIF) District
43 financial update and discuss the EDA Special Revenue Fund budget.
44
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Andover Economic Development Authority Meeting
Minutes -August 17,2010
Page 3
1 Mr. Dickinson reviewed the TIF Cash Flow Analysis-Debt Service with the Commission. He
2 noted by 2011 they will have all debt paid off.
3
4 Mr. Dickinson reviewed the Economic Development Authority (EDA) Fund Statement and the
5 Capital Projects Fund Statement with the Commission.
6
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8 ANDOVER STATION MAINTENANCE DISCUSSION
9
10 Mr. Dickinson reviewed the maintenance work status with the Commission.
11
12
13 OTHER BUSINESS
14
15 There was none.
16
17
18 ADJOURNMENT
19
20 Motion by Jacobson, Seconded by Bukkila, to adjourn. Motion carried unanimously. The meeting
21 adjourned at 6:58 p.m.
22
23 Respectfully submitted,
24
25 Sue Osbeck, Recording Secretary
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1685 CROSSTOWN BOULEVARD N,W, . ANDOVER, MINNESOTA 55304 . (763) 755-5100
FAX (763) 755-8923. WWW,CLANDOVER,MN,US
TO: EDA President and Board
CC: Jim Dickinson, Executive Director
'.,.-.
FROM: Will Neumeister, Community Development Director~l"-'
SUBJECT: Project Status Report
DATE: September 21, 2010
INTRODUCTION
This memo provides a brief update of all development activities in the Andover Station area:
Kwik Trip Motor Fuel/Convenience Store/Car Wash - The frontage road reconstruction is
completed and open to traffic. Construction started on August 16th and the store is projected to
open on December lih.
2010 Special EDA Events - The Golf and Twins events are now over and the EDA should discuss
what they would like to do for 2011, so that we may planJbudget for business networking events
for next year. The EDA should also discuss whether they would like to see more of the "Music at
Andover Station" pergola events in 2011 and budget for them (ifthere is a desire to hold more of
them next summer).
Community Signs - Quotes for the electronic (LED) signs were reviewed with the EDA at the
August lih meeting. The quotes showed a cost range between $40,000 and $60,000 per sign,
depending on which options are chosen. Also, the EDA discussed entrance monument signs and
staff has investigated options (see attached photos). They range from $600 to $12,000 per sign and
would need to be located outside ofthe road right-of-way. The EDA is asked to discuss the signs
further and provide staff direction.
Andover Station Maintenance - One more weeding of the median is scheduled for late October.
City Public Works crews cleaned up the medians on Jay and Martin Streets in August and will
continue in 2011. The EDA will need to budget for this work, along with mowing of the vacant lots
in Andover Station North.
ACTION REOUESTED
The EDA is asked to discuss the various items listed above.
Respectfully submitted, J-,..
Will Neumeister W
Attachments
Photos of Signs
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Openwood {;F'~ii'
Studios Inc. \, -: ,',
Proposal Submitted To: Phone Fax Date
CITY OF ANDOVER, MN 763-767 -5140 9-16-10
Address Project
1685 CROSSTOWN BLVD. NW CITY ENTRANCE SIGNS
City/State/Zip Project Location
ANDOVER, MN 55304
Openwood Studios Inc., proposes to furnish materials and labor - complete in accordance wfth specifications below for the sum of:
50% Down Payment. All accounts are due and payable in ten (10) days following date of invoice.
Rnance charge of 1.5% per month, which is an annual percentage rate of 18% charge on all past due accounts.
This proposal may be withdrawn by Openwood Studios Inc., if not accepted within 30 days.
Authorized Signature
OPTION 1
1- CITY IDENTIFICATION SIGNS
TO" X 3'0" X 2>< CLEAR CEDAR SINGLE SIDED $ 2,625,00
POSTS & HARDWARE 410.00
CRATING & SHIPPING 485,00
OPTION 2
5- CITY IDENTIFICATION SIGNS
TO" X 3'0" X 2x CLEAR CEDAR SINGLE SIDED 12,125.00
POSTS & HARDWARE 1,925.00
Delivery 945.00
Sign installation by the City of Andover.
The above prices represent general guildlines used by Open wood Studios SUBTOTAL
for budget purposes only. All sign designs are subject to final quotation. TAX
Please allow 3-5 weeks for delivery, TOTAL
50% down payment required to begin production. DOWN PAYMENT
NET 10 DAYS
Acceptance of proposal:
The above prices, specifications and conditions are satisfactory and are hereby accepted, Openwood Studios Inc" is author/zed to do the work specified,
Payment will be made as outlined above,
Signature: Date:
6915 Raywood Road, Madison WI 53713 · 608/222-1842 · fax: 608/222-5838
email: info@openwood.com . online: www.openwood.com
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1685 CROSSTOWN BOULEVARD N.W. . ANDOVER, MINNESOTA 55304. (763) 755-5100
FAX (763) 755-8923 . WWW.CLANDOVER.MN.US
TO: President and Commissioners
FROM: Jim Dickinson, Executive Director
SUBJECT: Senior Housing Discussion
DATE: September 21,2010
INTRODUCTION
The EDA is requested to discuss a senior housing proposal that was brought forward by a local developer.
The primary topic will center on financing participation by either the City of Andover EDA or the Anoka
County HRA.
The Executive Director will facilitate discussion on the topic.
DISCUSSION
The discussion of a request for the City of Andover EDA to participate is an avenue staff would pursue
extensive research on, if that is the direction of the EDA. The primary discussion point for this evening is
related to the developer's request as to whether or not the EDA would support involvement by the Anoka
County HRA (ACHRA) to pursue a senior housing project in Andover.
Below is the tvpical process the ACHRA uses when developing senior housing (Andover would not be a
typical process since the ACHRA is not authorized to levy in Andover).
1. The City Council of the host city adopts a resolution asking the ACHRA to evaluate the possibility of
developing the housing. Funds from a HRA levy in the host community are used to commission a study
from a housing research firm.
2. Ifthe study supports the project, the HRA fiscal advisor (Ehlers & Associates) prepares and reviews a
pro forma and provides to the ACHRA financial projections.
3. If the financial projections are favorable, HRA Bond counsel develops a schedule and starts preparing
documents including a public hearing notice and preliminary resolutions.
4. Meetings take place in the host city to review all information during all stages of the process.
5. With all necessary government approvals in place the ACHRA acts on a final resolution and if
approved the bonds are sold to construct the facility.
The basic ACHRA senior housing model: All of the recent ACHRA senior housing projects are backed by
the full faith and credit of Anoka County. This removes the need for the city to back the bonds. In
exchange the ACHRA requires the host city to enter into a 5 year operating deficit agreement to cover
debt service and/or operating shortfalls in the first 5 years of operation. After the agreement expires the
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HRA or County would be on the hook to cover any potential shortfalls. (Note: Based on reviewing the
progress of recent ACHRA senior housing projects, it is unlikely the agreement would be called on as the
funds flow using rent collected, or the HRA levy pledged would fulfill the deficit agreement)
In Andover: A request for ACHRA to consider a senior housing project in Andover would not follow the
typical process, and a request like this would certainly be more difficult than other ACHRA projects
because the ACHRA has not developed a project in a city where they do not levy.
If the EDA did want to explore the ACHRA possibility, to complete step #1 and #2 above, it may be
possible to have the EDA pay for the study and preliminary financial work out of EDA funds in place of
ACHRA levy, Then if the results of the analysis are favorable, the City EDA could pursue a senior project
on its' own, terminate the project, propose a hybrid concept to the ACHRA, or at that time have a
resolution from the city adopted to allow the ACHRA to levy.
Questions for the EDA:
1. Is the EDA interested in a senior housing study?
2. Is the EDA interested in starting dialogue with ACHRA?
3. Is the EDA interested in a tour of an ACHRA senior housing facility?
4. Should staff continue to pursue this topic?
ACTION REOUESTED
ve a presentation and provide direction to staff.
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@
1685 CROSSTOWN BOULEVARD N.W. . ANDOVER, MINNESOTA 55304. (763) 755-5100
FAX (763) 755-8923 . WWW,CLANDOVER.MN.US
TO: President and Commissioners
FROM: Jim Dickinson, Executive Director
SUBJECT: TIF District Financial Update & EDA Budget Discussion
DATE: September 21, 2010
INTRODUCTION
The EDA is requested to receive a Tax Increment Financing (TIF) District fmancial update and discuss
the EDA Special Revenue Fund budget.
DISCUSSION
The Executive Director will use the attached documents as the basis for the TIF District financial update
and to facilitate discussion on the EDA Special Revenue Fund budget:
1. Current TIP Cash Flow Analysis
2. EDA Special Revenue Fund Statement of Revenues, Expenditures and Changes in Fund
Balance
3. Building Fund Capital Projects Fund Statement of Revenues, Expenditures and Changes in
Fund Balance
4. EDA Special Revenue Fund Budget Worksheet for 2011
5. EDA Budget Detail Worksheet
ACTION REOUESTED
eceive a presentation and provide direction to staff.
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CITY OF ANDOVER
Budget Worksheet - 2011
EDA 2110-46500
Account Actual Actual Actual Actual Actual Budget Estimate
Requested
Number Description 2005 2006 2007 2008 2009 2010 2010
2011
Charges for Services
54370 Tax: Increment Administration F 127,507 155,250 162,553 173,096 181,416 180,000
192,000 165,400
Charges for Services 127,507 155,250 162,553 173,096 181,416 180,000
192,000 165,400
Investment Income
56910 Interest Earned 2,730 6,635 8,174 14,670 7,959 6,000
6,000 6,000
56920 Valuation Adjustment 328 (1,374) 4,016 (1,283) 1,527
Investment Income 3,058 5,261 12,190 13,387 9,486 6,000
6,000 6,000
Miscellaneous Revenue
58100 Refunds & Reimbursements 13,595 14,770 11,253 1,693 2,487
Miscellaneous Revenue 13,595 14,770 11,253 1,693 2,487
Total Revenues 144,160 175,281 185,996 188,176 193,389 186,000
198,000 171,400
Salaries & Benefits
Salaries & Benefits 100,186 50,273 60,725 79,811 84,380 99,325
101,385 102,468
Departmental
61005 Supplies - General 884 62 493 802 1,021 2,000
2,000 2,000
61130 R & M Supplies - Landscape 14,929 13,226 11,226 4,093
10,000
61310 Meals I Lodging 386 396 700 700
700
61315 Continuing Education 250 250 250 100 1,500 1,500
1,500
61320 Annual Dues / Licenses 285 450 14,630 750 765 800 800 800
61405 Postage 620 585 784 319 1,061 1,000 1,000
1,000
61410 Transportation I Mileage 1,455 1,221 1,205 1,839 1,943 2,200 2,200
2,200
Departmental 18,809 16,190 28,588 7,903 4,790 8,200
8,200 18,200
Operating
62005 Electric 7,134 7,500
8,000
62100 Insurance 4,534 2,641 2,239 2,190 2,537 5,250 5,250
5,250
62200 Rentals 746 639 2,500
62210 Computer Services 1,500 1,500 1,500 1,545 1,600 1,600
1,600 1,600
Operating 6,780 4,780 3,739 3,735 11,271 6,850 16,850
14,850
Professional Services
63005 Professional Services 3,530 2,223 1,965 1,550 5,656 5,200 5,200
5,200
63010 Contractual Services 2,077 2,000 17,236 12,533 14,244 47,000
40,000 39,000
63015 Attorney 588 91 619 1,810 2,000 2,000
2,000
63025 Publishing 1,019 733 947 816 25 2,500 1,000
2,500
63100 R & M Labor - General 8,928 6,006 3,282 1,950
63200 Inspections 1,838 522 156 23 35
Professional Services 17,979 11,575 23,586 17,491 21,770 56,700
48,200 48,700
Other Financing Uses
67101 Operating Transfers Out
Other Financing Uses
Total Expenditures 143,753 82,818 116,638 108,940 122,211 171,075
174,635 184,218
Net Increase (Decrease) in FB 407 92,463 69,358 79,236 71,178 14,925
23,365 112,818)
Fund Balance
Beginning 88,188 88,595 181,058 250,416 329,652 400,830
400,830 424,195
Ending 88,595 181,058 250,416 329,652 400,830 415,755
424,195 411,377
- 5'- 9/16/2010
,.....
City of Andover
Budget Detail for all Object Codes
(List each expense account individually with specific cost detail)
Department / Cost Center: Economic Development - 2110
>:. >:. >: ,,<<> .:... .:'Arnount Requested. .:.. ..:. Tot~1 . Priority.
.
Obje~t / <Explanation .::. '.>" .:..:.:2010[....... ........2011. .......
'. . ::> '.
2011 through 5 >
. Code :> <stidget . : ... Adjustment. . :. '.Request:.. 1-high :5~low
61005 SUPPLIES - GENERAL 2,000 2,000
0
0
0
0
0
0
0
0
........................>..... ::.:>>:>::.>.:...........>....>.>::. :......:::.>....::.::.>::::.....:::: ...........:.:.....:...'..,...........>.:....Total ..'..)0.
".0< . . . . . . . . . . . . . . ...'.<>............'...'..'...>>...
'>::/;000 2,000
61130 R & M SUPPLIES - LANDSCAPE 0
0
median expenditures 0 10,000 10,000
:...:.
0
0
0
0
0
0
..,>....:.:.:..../::.: ...>>> :)'.:>:cc> .::>:..>....:...:. :~ 10;000
."".'.."". ,...:.....,:..:.:,..:....:.:.
' '10,000
61310 MEALS / LODGING 700
700
Special events participation - Staff/Commission 0
0
0 .:
0
0
0
0
0
.,:..,...>>>> .>......'.%'al ::.......:......:..............71111, ':':':':':':':':":':::"':':"il >..................:..iiJ
I: >':.:>.:..........,...........:..
61315 CONTINUING EDUCATION 1,500 1,500
Training opportunities - Staff/Commission 0
0
0
0
0
0
0
0
::........:.:>> .............>'..,..>...:...........:.:>.:.. .:.:: ....... ::>.::> , -,,~. .....:.'...........:.......:.:..:,;
...:.'.........:.. :".:' :..:.::...>,.....>>::
.'.:,Io,a.
61320 ANNUAL DUES / LICENSES 800 800
0
0
0
0
0
0
0
0
,:.....:...........:.....,.... :.:,>"':"0131 I...............:... 800 .............'........,...:...0
.....................: ::>:::.::>: >:
61405 POSTAGE 1,000 1,000
Newsletter PubliCation 0
0
0
0
0
0
0
0
..:::..:.'::::,:..:....:.':...... :....:: ....:.::::>::, :...::.:....:.:.....:....>....:.,:. .:.,:.::.<......'.....,.otal I> 1,000
..,..::..:..........,.....0> ','..:nnn 'llilil,?:'''''
61410 TRANSPORTATION / PARKING 2,200 2,200
Staff/Commision Travel 0
0
Executive Director % allocation 0
0
0
0
0
0
Pagel of3 -c; -
--
City of Andover
Budget Detail for all Object Codes
(List each expense account individually with specific cost detail)
Department I Cost Center: Economic Development - 2110
............... <)>...... ...... I < Amount Requested Total
..' .... ptiority.. ....
. .Object.... i..... ... . > ....ExPlanation) 2010 >2011 .....
2011 ... llhrough 5
Code"
... .
1 Budget '.. Adjustment . . . . Request
1-high :5-low
<...>.............. .......................<..........................................................................>................. Total I" ......<2.200 ........
..................0 .......>.................').,1111. ...... ........................
62005 ELECTRIC 0 8.000
8.000
Assoc cost sharing 0
0
0
0
0
0
0
0
......<>....................... "<.<l'"f~1 I...................................n .................> Lc
........................ ...........>..................
62100 INSURANCE 5.250
5,250
Finance 0
0
0
0
0
0
0
0
....................>...< >.....Total I..........................". ....................................0
>/: "'" .../...
62210 COMPUTER SERVICES 1.600
1.600
Central system allocation - Server/emaiUimaging/etc, 0 ,
0
0
0
0
0
0
0
><......< ....)"otal ...........................1.$00 1......>......................0 ........
.............>....................
63005 PROFESSIONAL SERVICES 3.500
3,500
Audit - LB 1.700
1,700
0
0
0
0
0
0
..../..... .......... ..................................................................................................T()i~1 . . 5.200 ......................
.............0 I'" ....... ,./....
63010 CONTRACTUAL SERVICES 1,000
1.000
Landscaping @ Andover Station - assoc membership 10.000 (8,000)
2,000
Beyond assoc, maintE!nance - ASN 20,000
20,000
Xfer from 61320 - Partnership opportunities 16,000
16.000
0
0
................................... ... .... ...... ...... ................<......................<<....... '.. '.. 47,OllO
.....(8.00lll .....3ll;OllO I.'..............>
63015 ATTORNEY 2.000
2,000
0
0
0
0
0
0
0
0
<<<..<> ..............tot~1 .... 2.000 ....................................0. .........'.............
;,..;, .................<...<............
63025 PUBLISHING 2,500
2.500
Tax Increment Reporting 0
0
0
0
0
0
Page 2 of3 _[ _
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City of Andover
Budget Detail for all Object Codes
(List each expense account individually with specific cost detait)
Department I Cost Center: Economic Development - 2110
Grand Total for all Expenditures $71,750 $10,000 $81,750 ~~~
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