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Home My WebLink About4.a. Execsum PA budgetEXECUTIVE SUMMARY Port Authority Date: September 20, 2016 AGENDA SECTION: AGENDA ITEM: Approval of Port Authority Budget New Business PREPARED BY: Kim Lindquist, Deputy Director AGENDA NO. 4.a. ATTACHMENTS: Budget Documents, July Minutes APPROVED BY: ddj RECOMMENDATION: Motion to Approve the Proposed 2017 Budget for the Port Authority ISSUE In July, the Port Authority discussed the draft budget for 2017. At that time there was some discussion about investing in another retail marketing firm. The group decided that they may investigate hiring a firm in the future but there were no firm plans for 2017. Should the Port determine they would like to engage a marketing/retail attraction firm, the funding would come out of the Port Authority surplus. That means there is no need to place the expenditure in the budget at this time. The Council is taking action on the preliminary levy on September 20, 2016. After that date, there can be minor tinkering with the draft budget, but the levy cannot be greater than the preliminary requesting the Port Authority approve the proposed budget. RECOMMENDATION Staff believes the proposed Port Authority budget allows for programs currently underway and provides some funds should there be some opportunities that arise during 2017. Staff recommends a motion to approve the proposed budget. PORT AUTHORITY GENERAL / ADMINISTRATIVE The Rosemount Port Authority is the successor to the Rosemount Housing and Redevelopment Authority (HRA) and the Rosemount Economic Development Authority (EDA). As such, the Port Authority is responsible for both redevelopment and economic development activities in the City. The Port Authority concentrates much of its activity on the development of the Rosemount Business Park and on the redevelopment of downtown Rosemount. It also coordinates development opportunities with the University of Minnesota. The Port Authority will continue to work on other development and redevelopment projects related to commercial and industrial development, including but not limited to, a new hotel and additional retailing opportunities on lands designated for commercial use. Page One 2017 BUDGET WORKSHEETS PORT AUTHORITY - REVENUES September 20, 20162017 2016Object2017 201320142015AdoptedDetailProposed Account # DescriptionActualActualActualBudgetAmountBudgetComments ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ----------- 201 31010.00Current Ad Valorem Taxes$58,000$58,000$58,000$58,000$58,000 Operating Levy 201 31050.00Tax Increments00000 Admin Fees Portion Only 201 32280.00Fiber License Fees0002,4002,400____________________________ 201 33130.00Federal Grants-CDBG00000____________________________ 201 33425.00Other State Grants & Aids0734,060287,09000 LCA Grant-Land/Bldg Acquisition 201 33620.00Other County Grants & Aids06,600000 Dakota Cty-South Gateway 201 34109.00Other Charges for Services00000 Genz-Ryan Tenant Utility Pymts 201 36210.00Interest Earnings - Investments504974100100 Interest Earned on CD's 201 36215.00Interest Earnings353358100100 Checking Interest & Misc 201 36230.00Contributions/Donations00000____________________________ 201 36260.00Other Revenue0763000____________________________ 201 36265.00Use of Reserve Funds00014,0000____________________________ 201 39101.00Sales of General Fixed Assets00000____________________________ ------------------------------------------------------------------------------------------ FUND TOTALS$58,086$799,505$345,222$74,600$60,600 ====================================================== EXPENDITURES 2017 2016Object2017 201320142015AdoptedDetailProposed Account # DescriptionActualActualActualBudgetAmountBudgetComments ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ----------- All Salary Costs Inclusive of Salary, Taxes, PERA & Benefits 201 46300 01103.00Part-Time Salaries & Benefits$6,079$5,511$11,171$0$0 Part-Time Intern 201 46300 99103.00Part-Time Salaries & Benefits2,5092,3053,0084,0004,000 Port Authority Members 201 46300 01303.00Engineering Fees0002,0002,000____________________________ 201 46300 01304.00Legal Fees1,6458,4224,9123,0005,000____________________________ 201 46300 01317.00General Fund Administrative Fees6,0006,0006,0006,0006,000 Yearly Fee Per Policy F-3 201 46300 01319.00Other Professional Services19,000____________________________ 201 46300 01319.01 Project Management Consultant0002,0002,000____________________________ 201 46300 01319.02 Marketing - REDE - City Share10,02010,00014,37310,00010,000 Twin Cities Marketing Initiative 201 46300 01319.03 County TIF Charges00000 Moved to TIF Fund 201 46300 01319.04 P/A Property Tax Payments00000____________________________ 201 46300 01319.05 Other Consultants0005,4007,000 Downtown Update 201 46300 01319.06 South Gateway Study011,553000 Dakota Cty-South Gateway 201 46300 01319.07 Buxton Project016,66716,66717,0000____________________________ 201 46300 01322.00Postage Costs4460000____________________________ 201 46300 01331.00Travel Expense00000____________________________ 201 46300 01349.00Other Advertising7,0949,21614,21710,00012,000 Additional Marketing 201 46300 01359.00Other Printing & Binding Costs09021003,0001,500____________________________ 201 46300 01365.00Workers Comp Insurance540530604500700 Commissioners 201 46300 01369.00Other Insurance3944094402,000500 Property Insurance 201 46300 01381.00Electric Utilities309190130500400 Business Park & Other Properties 201 46300 01383.00Gas Utilities00000 Other Properties 201 46300 01389.00Other Utility Services00000 Utility Fees 201 46300 01403.00Contracted Repairs & Maintenance0002,0002,000 Contracts for Fiber 201 46300 01433.00Dues & Subscriptions2,000 Prof Organizations/Journals 201 46300 01433.01 Professional Organizations/Journals1,8062,0882,3921,7002,000____________________________ 201 46300 01433.02 Foreign Trade Zone Commission00000____________________________ 201 46300 01437.00Conferences & Seminars4,2491,2777,3495,0005,000 Development/TIF/Miscellaneous 201 46300 01439.00Other Miscellaneous Charges4341720500500 Contingencies 201 46300 01521.00Building & Structure Purchases00000____________________________ 201 46300 01525.00Building & Structure Purchases0652,781287,09000 LCA Grant-Land/Bldg Acquisition 201 46300 01530.00Improvements Other Than Bldgs00000____________________________ 201 46300 01710.00Transfers0086,43700____________________________ ------------------------------------------------------------------------------------------ FUND TOTALS$41,525$728,022$454,890$74,600$60,600 ====================================================== Page One 2017 BUDGET WORKSHEETS DOWNTOWN/BROCKWAY DISTRICT(0108) - REVENUES September 20, 20162017 2016Object2017 201320142015AdoptedDetailProposed Account # DescriptionActualActualActualBudgetAmountBudgetComments ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------- 242 31010.00Current Ad Valorem Taxes$0$0$0$0$0 MVHC Payments 242 31050.00Tax Increments660,130646,636720,963670,000800,000__________________________ 242 33400.00State Grants & Aids00000__________________________ 242 33425.00Other State Grants & Aids00000__________________________ 242 33620.00Other County Grants & Aids00000__________________________ 242 36210.00Interest Earnings - Investments826645978800800__________________________ 242 36215.00Interest Earnings148313900__________________________ 242 36220.00Rents & Royalties00000__________________________ 242 36230.00Other Revenue00000__________________________ 242 36260.00Contribution/Donation-Private00000__________________________ 242 39101.00Sale of General Fixed Assets0283,04515,00000__________________________ 242 39310.00Bond Proceeds00000__________________________ ------------------------------------------------------------------------------------------------ FUND TOTALS$660,971$930,409$737,080$670,800$800,800 =================================================== EXPENDITURES 2017 2016Object2017 201320142015AdoptedDetailProposed Account # DescriptionActualActualActualBudgetAmountBudgetComments ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------- 242 49042 01303.00Engineering Fees$0$0$0$0$0__________________________ 242 49042 01304.00Legal Fees00000__________________________ 242 49042 01319.00Other Professional Services16,51612,94214,91915,00015,000 County TIF Charges 242 49042 01522.00Building & Structure Purchases040,278000 CDA-Dahn Property Purchase 242 49042 01530.00Improvements Other Than Buildings00000__________________________ 242 49042 01533.00Improvements Other Than Buildings00000__________________________ 242 49042 01536.00Improvements Other Than Buildings0170,062000 Fiber in Business Park 242 49042 01538.00Improvements Other Than Buildings0206,434000 TH 3 Turn Lane Improvements 242 49042 01601.00Principal on Waterford PAYG52,95364,51569,16877,00071,300 Waterford Pay-As-You-Go 242 49042 01611.00Interest on Waterford PAYG84,17981,45378,08174,40072,000 Waterford Pay-As-You-Go 242 49042 01710.00Transfers400,000400,000450,000500,000550,000 P & I for 2008A & 2008B Issues ------------------------------------------------------------------------------------------------ FUND TOTALS$553,647$975,684$612,168$666,400$708,300 =================================================== ROSEMOUNT PORT AUTHORITY REGULARMEETING PROCEEDINGS JULY 19, 2016 CALL TO ORDER Pursuant to due call and notice thereof a regular meeting of the Rosemount Port Authority was held th on July 19, 2016, at 6:00p.m. in the Council Chambers at City Hall, 2875 145 Street West, Rosemount. Chair Weisensel called the meeting to order with Commissioners Droste, Wolf, Smith, Abdulahiand DeBettignies attending. Staff present included City Administrator Johnson, Community Development Director Lindquist, and City Clerk Hadler. The Pledge of Allegiance was said. ADDITIONS OR CORRECTIONS TO AGENDA City Administrator Johnson stated there were no changes to the agenda. Motion by Weisensel. Second by Wolf. Motion to Adopt the Agenda as corrected. Ayes: 6 Nays: 0. Motion carried. COMMUNITY/AUDIENCE RECOGNITION CONSENT AGENDA Motion by DeBettignies. Second by Abdulahi. Motion to Approve the Consent Agenda with revised Minutes. a.Approval of June 21, 2016 Meeting Minutes b.Bills and Invoices Ayes: Droste, Wolf, Weisensel, Smith, Abdulahi, DeBettignies Nays: None. Motion carried. PUBLIC HEARING OLDBUSINESS 4.a.Hotel Update Community Development Director Lindquist updated the Port Authority on discussions with individuals regarding the prospects of a hotel. Commissioner Droste stated the one investor would be a good fit for the city, and discussed other hotels they have in the area. Commissioners and staff discussed various other referrals and contacts. NEWBUSINESS 5.a.Change Date of November Meeting to Monday November 14th Community Development Director Lindquist explained the need to change the date of the November meeting, due to a number of City Council members being out of town at a national conference.Commissioner Wolf stated he would not be able to attend on the new date. Motion by Weisensel. Second by DeBettignies. ROSEMOUNT PORT AUTHORITY REGULARMEETING PROCEEDINGS JULY 19, 2016 th Motion to move meeting for November to Monday, November 14. Ayes: Droste, Wolf, Weisensel, Smith, Abdulahi, DeBettignies Nays: None. Motion carried. 5.b.Draft Budget Community Development Director Lindquist provided a brief summary of the Port Authority budget for 2017, which was decreased due to the removal of the Buxton contract. Ms. Lindquist also explained the TIF information provided, including approximately $600,000 in TIF funds available. She invited questions from Port Authority commissioners. Commissioners and staff discussed how the TIF funds could potentially be spent. Chair Weisensel inquired if Commissioners would be interested in investing in any studies or efforts in place of Buxton. Commissioner Smith noted the strengths and weaknesses of the Buxton consulting effort. Commissioner Droste stated it would be good to get something going at Akron and County Road 42. Commissioner Abdulahi suggested investing money in the business park sign. Chair Weisensel asked for a consensus to take back to Council as a recommendation. Commissioners were generally supportive. City Administrator Johnson explained that additional funding would mean either raising the levy or spending from the Port Authority reserves. Chair Weisensel summarized that budget would be remain the same and if down the road additional funds are needed, they may need to come out of the reserves. CHAIRPERSON’S REPORT DIRECTOR’SREPORT Chair Weisensel inquired about movement on the Dakota Fieldhouse. Mr. Johnson stated staff was invited to a meeting, but it has not yet been scheduled. REPORTS FROM PORT AUTHORITY COMMISSIONERS Commissioner Droste discussed conversation he had with the owners of the new Culver’s. ADJOURNMENT There being no further business to come before the Port Authority and upon a motion by Weisensel, second by Smith, the meeting was unanimously adjourned at 6:44 p.m. Respectfully Submitted, Clarissa Hadler, City Clerk