HomeMy WebLinkAbout5.a. PA Annual Report
EXECUTIVE SUMMARY
Port Authority Meeting: May 18, 2021
AGENDA ITEM: Annual Report AGENDA SECTION:
New Business
PREPARED BY: Eric Van Oss, Economic Development
Coordinator AGENDA NO. 5.a.
ATTACHMENTS: Budget APPROVED BY: LJM
RECOMMENDED ACTION: Information Item.
SUMMARY
The annual Port Authority report highlights a list of projects, accomplishments, and progress made on
initiatives between April 2020 and April 2021. The project type is categorized by activity for ease of
review. As shown below, the last year was very active and a number of important projects were
accomplished. Staff appreciates the leadership and direction received from the Port Authority throughout
the past year.
New Development
Permit Activity: Permit activity also soared in 2020 with 4,426 total permits issued—up from 3997 in 2019.
Total building valuation for the year broke $100 million for the first time, representing a dramatic increase
from $33 million in 2010 as the community was recovering from the Great Recession. Overall, Rosemount
had a strong year as developers looked to Rosemount for growth opportunities and homeowners focused
on renovation and building addition projects.
It was a banner year for housing growth in Rosemount in 2020. Despite the COVID-19 related difficulties,
Rosemount closed out its strongest year of growth in over a decade. Rosemount added 389 total housing
units in 2020, a 155 unit increase from 2019 and a significant increase from the 2010-2020 average of 185
units annually. Rosemount has added 1,844 total new housing units since 2010. The valuation of the new
housing stock totaled over $95 million, which represents over a $20 million increase from 2019. Major
projects include the Morrison Redevelopment in Downtown Rosemount and continuation of Lennar’s
development at Prestwick Place, Meadow Ridge, and Bella Vista.
APPRO Development: New spec industrial was completed in fall of 2020. Appro Development started
building the first structure, an 18,000 square foot industrial spec facility in summer. The building leased up
almost immediacy, indicating strong demand for industrial users. Three different tenant buildouts in late
2020 and early 2021.
Carrousel Way Medical: Davis Construction completed the 12,000 square foot medical office building. The
Lorenz Clinic of Family Psychiatry is the primary user of the space and opened to the public in winter
2021.
2
The Clover: In 2020 the Rudy’s restaurant closed and had a change in ownership. The building remained
vacant for most of 2020. The Clover began interior work in fall 2020 and opened to the public in March
2021.
The Morrison: The Morrison project in summer of 2020 and work has continued throughout the year. As
of April, the building has topped out and windows have been placed. Ron Clark plans to beginning leasing
the first phase to renters in fall 2021.
Brewery: 2020 moved Rosemount closer to having not just one, but two new breweries in town. Dave
Schmitz is currently in the process of securing financing. Once the financing is in place, APPRO will start
moving forward on construction. Their goal is to have a shovel in the ground by early June with a
completion date around the end of November.
A new brewery user approached staff in fall of 2020 with plans for an entertainment complex near the
Business Park. They hope to have plans into the city for initial review in late spring with construction to
begin in fall. City staff is also trying to determine which liquor license would be most appropriate for the
venue to conform with the State of Minnesota regulations.
Site Development
Throughout 2020 major steps were taken to market and attract development for larger industrial and
commercial sites in Rosemount. Staff completed 9 RFIs for commercial and industrial sites in 2020.
Staff formed a strong partnership with Xcel Energy to certify sites in a Shovel Ready program. Xcel
completed a series of new promotional vides that were released in February 2021. The following three sites
were enrolled into their program:
• 160 acres controlled by the OPUS Group adjacent to County Road 42. This site would be
ideal for a large industrial user.
• 300 Acres in UMore Park adjacent to County Road 42 and less than one mile from the
Highway 52 interchange. This site is also suited for larger industrial users.
• 145 acres in the Rosemont Business Park of which 52 acres is designated DEED Shovel
Ready. This site is suited for industrial, distribution, or office uses.
Project Tundra: Work continues on Project Tundra, with multiple site visits and meetings with
development team. The City is also pursuing innovative effluent reuse opportunity with Met Council and
partners to support the recruitment of this user. The Mayor and staff worked with local legislators to
obtain financing of an engineering study for the effluent reuse project. As of April 2021, legislation to
provide study funding has been heard in the House and the Senate and is moving through the legislative
process.
Project Osprey: Staff has been working with partners and the Pahl family on Project Osprey, a proposed
400,000 square foot distribution facility in the business park. The City’s financial consultant has begun
work on a TIF District and staff expects this to be in front of Council within the next month. The project
is moving forward, and staff anticipates submittals will occur in summer of 2021.
Scannell: Scannell is moving forward with an industrial project off Highway 52. The project would take
place over several phases and full build out would total 2,000,000 square feet of industrial/warehouse uses.
The City Council is being asked to adopt a resolution ordering the preparation of an Alternative Urban
Areawide Review (AUAR) for the potential redevelopment. AUAR and the city entitlement process would
take place during summer 2021 for an anticipated construction start in fall.
3
UMore Residential: In winter of 2020 Maplewood Development moved forward with plans for the UMore
site. Their proposal would eventually include 1,300-1,800 housing units in the first phase. The applicant is
working on making site plan adjustments in anticipation of planning submittal for PUD approval in late
spring or early summer. The entitlement process would go through summer and the applicant hopes to
begin construction on the first phase in fall.
Akron Avenue: The intersection of Akron Avenue and County Road 42 has approximately 50 acres of
land available for new commercial development. Part of this site will be allocated for the new
Indoor Recreation Center. In summer of 2020 the City undertook a commercial visioning exercise to
envision a full build out of this site (discussed in further detail in a later section). Staff has
been aggressively marketing the Akron Corridor to commercial developers and retail tenants. The addition
of the Rec Center, and expanded residential base in the area, will continue to increase the appeal
to commercial developers.
Israelson property: Warren Israelson is compiling his application to move forward with phase one of his
mixed-use concept, beginning with residential development. Staff has been working with Mr. Israelson to
develop the concept and aid in finding partners to develop the hotel portion of the site. Mr. Israelson has
indicated he will move forward with a first phase commercial building in conjunction with the residential
portion of this development.
New Business Openings:
The Clover
MGM Liquor
Emerald Roots Salon
Lorenz Clinic Expansion
The Guitar Shop Expansion
Style Niche Expansion
Park Dental
Epic Wraps
Valley Natural Foods
Tune Plus
42 Corridor Commercial Visioning:
Staff and the Port Authority moved forwarded with a Commercial Visioning project for high priority
commercial sites in Rosemount. Staff identified the intersection of Highway 3 and County Road 42, the
intersection of 145th and County Road 42, intersection of Akron and County Road 42, and Highway
52/County Road 42 as high priority commercial areas for future development.
In summer of 2020 staff sent out RFPs for the project and selected Perkins and Will as the project
consultant. This began a year of information gathering and Joint Sessions with the Port and Planning
Commission. Perkins and Will conducted a series of one-on-one interviews, group exercises, charrettes,
and presentations to determine the best and highest use for these commercial areas. Over the course of the
year, the consultant developed a series of renderings for these sites. The renderings were further refined
after discussion over the course of several Joint Sessions. The final renderings were presented in March
2021. These renderings are high level conceptual ideas for the sites and will be used in marketing
Rosemount to developers. Additionally, the renderings will be shown to residents at events like the Expo
to help communicate the Council’s vision for the community and help residents understand future growth.
Marketing and Cold Calls
4
Due to COVID-19 Staff paused most marketing and cold calls efforts in summer and fall 2020. This was
due to COVID-19 related programing taking priority for a bulk of the year. Additionally, due to the
uncertainly of the commercial and retail market most developers paused expansion plans on new projects
during summer and fall 2020.
Beginning in winter of 2021, staff began to restart cold call and marketing efforts. The conclusion of
CARES grants and renewed business interested allowed for more capacity to increase networking and cold
calling to developers and potential commercial users. Staff complied lists of developers and businesses by
industry category and devoted significant time reaching out to their corporate contacts. Staff also began to
attend a number of industry events, both in persona and virtual, such as the Minneapolis Real Estate
Journal summits.
Between virtual networking events and cold calls, staff was able to transmit Rosemount specific
marketing materials, site information, market studies and other general development information to a wide
array of developers and brokers. Based on feedback and meetings, Rosemount has favorable demographics
and growth patterns for many of the desired brands and caliber of development the Council envisions.
The 2020 permit and housing unit numbers are incredibly strong and single new demand to developers.
The forthcoming Recreation Center also represents a significant carrot for the Akron Corridor.
Like 2019, Rosemount currently has a mismatch of available and desirable space. Many retail stores are
interested in newer retail multi-tenant spaces. Hospitality and restaurant users highlighted a need for more
end cap space with room for patios.
Moving into 2021, staff believes new infill and greenfield development is needed to attract wanted end
users. As most commercial tenants will not outright own their commercial footprint, staff believes the best
retail economic development strategy would be to work with Twin Cities developers to construct multi-
tenant spaces on infill or greenfield sites along Country Road 42. Staff will also reach out to businesses,
entrepreneurs and end users interested in a Rosemount location in order to connect them with potential
developers. Staff plans to aggressively cold call and market Rosemount sites in spring of 2021 and
throughout the rest of the year. Staff is planning on creating a marketing campaign for developers that
highlight the recent commercial visioning activities and renderings. As in person events and trade shows
resume, staff will look for opportunities to attend large commercial events. Looking forward to fall, staff is
working on finding development summits that would include speaking spots and a booth presence to
emphasize development in Rosemount.
COVID-19 Response (Business Grants)
A major portion of 2020 revolved around the Rosemount CARES business relief grant program. City staff
created an application and website for local business to apply for CARES funding. Staff spent a large
portion of the fall reviewing grant applications for eligibility and financial documents. The initial grant
application closed on August 28, 2020. After the September Port Authority meeting, the application
process was reopened to Downtown businesses only and the eligibly criteria remained the same. After the
extended application period, 40 CARES Grants (70 applications) were approved for funding after financial
review. A total of $400,000 dollars was dispersed to local businesses through this program.
Additionally, staff worked with the Rosemount theater to apply for an industry specific grant through the
Minnesota Department of Employment and Economic Development. They were awarded a total of
$110,000. Dakota County offered another round of grants for liquor license holders throughout the
County. The grants were $5,000. Grant awards for businesses in Rosemount included: Celts, Carbone’s,
Fireside, Las Tortillas, House of Curry, the Legion, the VFW, Giuseppe's, and the Rich Valley Golf
Course. Staff also worked with local businesses to apply for grant opportunities through Dakota County,
the State of Minnesota and other sources.
5
COVID-19 Response (Rosemount CARES/Shop Local)
The Rosemount CARES program was a comprehensive marketing plan that sought to provide support for
local businesses throughout the pandemic by combining a Shop Local initiative with public health and
safety reminders. Staff created and distributed a branded logo and window clings reminding residents to
mask up and follow guidelines when out and about. These clings were distributed free of charge to
business throughout the community. Staff partnered with local businesses to obtain coupons, flyers, and
swag to stuff 1,000 branded Shop Local tote bags and distribute at drive-by, covid-safe pop-up events. An
additional 1,000 bags were given to local retailers to distribute during the holiday season. Staff created a
map of all participating businesses and highlighted restaurant and retail shop specials utilizing our social
media channels. For the service-oriented businesses we created a virtual guessing game featuring “Lucky
the Leprechaun” to allow residents to learn more about each service and business owner. Marketing pieces
included a window cling, newsletter and newspaper articles, videos, social media posts, and coupon stuffed
shopping totes. Later, staff tied our distribution of CARES Act funding into small business grants utilizing
the Rosemount CARES branding. The initiative started in July of 2020 and lasted through the holiday
shopping season. A budget of $3,000 paid for signage, cookies, branded window clings, and branded tote
bags.
Staff also transitioned annual events to a virtual setting. Staff created a new format for the Business
Appreciation Luncheon. Staff sent letter to local businesses for a “Lunch on Us” event for businesses to
opt into. Staff received 82 confirmations from local businesses for the Business Application event and
purchased gift cards from local restaurants. These gift cards were then sent along with a letter highlighting
business efforts in 2020 to all participants.
Website and Newsletter
Staff launched a revised website for Rosemount’s Economic Development. The standalone website is
linked to the current City website, using the Economic Development tab at the top of the home page.
Links in the new website continue to send viewers to information within the current website. The new site
is hosted on ArcGIS Hub and utilizes their data visual platform. Much of the information is from ESRI
and will permit automatic updating when they receive new demographic information. The existing site is
still functioning, but users are directly to the news site via the Economic Development tab on the City’s
main page.
Staff also launched a revamped Rosemount Business Bulletin, a regular publication highlighting current
development and business activity in Rosemount. This publication has a distribution list of over 400 and
includes local businesses as well as Twin Cities developers and brokers. Staff is now using the CivicSend
platform to reach a broader audience and track engagement metrics.
5-14-2021 09:18 AM CITY OF ROSEMOUNT PAGE: 1
REVENUE & EXPENSE REPORT - UNAUDITED
AS OF: DECEMBER 31ST, 2020
201-PORT AUTHORITY FUND
CURRENT CURRENT YEAR TO DATE BUDGET % OF
REVENUES BUDGET PERIOD ACTUAL BALANCE BUDGET
________________________________________________________________________________________________________________
TAXES
201-31010.00 CURRENT AD VALOREM TAXES 112,000.00 0.00 112,000.00 0.00 100.00
TOTAL TAXES 112,000.00 0.00 112,000.00 0.00 100.00
LICENSES & PERMITS
201-32280.00 FIBER LICENSE FEES 1,200.00 0.00 1,200.00 0.00 100.00
TOTAL LICENSES & PERMITS 1,200.00 0.00 1,200.00 0.00 100.00
GRANTS & AIDS _____________ _____________ _____________ _____________ _______
CHARGES FOR SERVICES
201-34109.00 OTHER GEN'L GOVT CHGS FOR SERV 8,000.00 0.00 ( 2,675.00) 10,675.00 33.44-
TOTAL CHARGES FOR SERVICES 8,000.00 0.00 ( 2,675.00) 10,675.00 33.44-
SPECIAL ASSESSMENTS _____________ _____________ _____________ _____________ _______
MISCELLANEOUS REVENUES
201-36210.00 INTEREST EARNINGS 100.00 0.00 3,404.87 ( 3,304.87)3,404.87
201-36215.00 INTEREST EARNINGS 100.00 0.00 502.09 ( 402.09) 502.09
TOTAL MISCELLANEOUS REVENUES 200.00 0.00 3,906.96 ( 3,706.96)1,953.48
________________________________________________________________________________________________________________
TOTAL REVENUES 121,400.00 0.00 114,431.96 6,968.04 94.26
============= ============= ============= ============= =======
5-14-2021 09:18 AM CITY OF ROSEMOUNT PAGE: 2
REVENUE & EXPENSE REPORT - UNAUDITED
AS OF: DECEMBER 31ST, 2020
201-PORT AUTHORITY FUND
PORT AUTHORITY
CURRENT CURRENT YEAR TO DATE BUDGET % OF
EXPENDITURES BUDGET PERIOD ACTUAL BALANCE BUDGET
________________________________________________________________________________________________________________
PORT AUTH. OPERATING BDG
========================
PERSONAL SERVICES ___________________________________________________________________
SUPPLIES
201-46300-01-219.00 OTHER OPERATING SUPPLIES 8,000.00 0.00 5,254.11 2,745.89 65.68
TOTAL SUPPLIES 8,000.00 0.00 5,254.11 2,745.89 65.68
OTHER SERVICES & CHARGES
201-46300-01-303.00 ENGINEERING FEES 3,000.00 0.00 0.00 3,000.00 0.00
201-46300-01-304.00 LEGAL FEES 4,000.00 0.00 0.00 4,000.00 0.00
201-46300-01-317.00 GEN'L FUND ADMIN FEES 6,000.00 0.00 6,000.00 0.00 100.00
201-46300-01-319.01 PROJECT MANAGEMENT CONSUL 2,000.00 0.00 0.00 2,000.00 0.00
201-46300-01-319.02 MARKETING 10,000.00 0.00 12,500.00 ( 2,500.00) 125.00
201-46300-01-319.05 OTHER CONSULTANTS 2,000.00 0.00 2,856.00 ( 856.00) 142.80
201-46300-01-319.07 RETAIL STRATEGIES 40,000.00 0.00 33,920.00 6,080.00 84.80
201-46300-01-319.08 OPEN TO BUSINESS (OTB) 5,500.00 0.00 0.00 5,500.00 0.00
OTHER PROFESSIONAL SERV 59,500.00 0.00 49,276.00 10,224.00 82.82
201-46300-01-349.00 OTHER ADVERTISING 25,000.00 0.00 10,006.21 14,993.79 40.02
201-46300-01-359.00 OTHER PRINTING & BINDING 200.00 0.00 0.00 200.00 0.00
201-46300-01-365.00 WORKMEN'S COMP INSURANCE 200.00 0.00 138.87 61.13 69.44
201-46300-01-369.00 OTHER INSURANCE 600.00 0.00 560.17 39.83 93.36
201-46300-01-381.00 ELECTRIC UTILITIES 400.00 90.75 185.63 214.37 46.41
201-46300-01-389.00 OTHER UTILITY SERVICES 1,000.00 0.00 0.00 1,000.00 0.00
TOTAL OTHER SERVICES & CHARGES 99,900.00 90.75 66,166.88 33,733.12 66.23
OTHER SERV & CHGS (CONT)
201-46300-01-403.00 CONTRACTED R & M-OTHER IM 2,000.00 0.00 0.00 2,000.00 0.00
201-46300-01-433.00 DUES & SUBSCRIPTIONS 0.00 0.00 50.00 ( 50.00) 0.00
201-46300-01-433.01 PROF ORGANIZATIONS/JOURNA 2,000.00 0.00 1,013.00 987.00 50.65
DUES & SUBSCRIPTIONS 2,000.00 0.00 1,063.00 937.00 53.15
201-46300-01-437.00 CONFERENCES & SEMINARS 5,000.00 0.00 2,681.20 2,318.80 53.62
201-46300-01-439.00 OTHER MISCELLANEOUS CHARG 500.00 0.00 30.00 470.00 6.00
TOTAL OTHER SERV & CHGS (CONT) 9,500.00 0.00 3,774.20 5,725.80 39.73
CAPITAL OUTLAY ACCOUNTS ___________________________________________________________________
________________________________________________________________________________________________________________
TOTAL PORT AUTH. OPERATING BDG 117,400.00 90.75 75,195.19 42,204.81 64.05
5-14-2021 09:18 AM CITY OF ROSEMOUNT PAGE: 3
REVENUE & EXPENSE REPORT - UNAUDITED
AS OF: DECEMBER 31ST, 2020
201-PORT AUTHORITY FUND
PORT AUTHORITY
CURRENT CURRENT YEAR TO DATE BUDGET % OF
EXPENDITURES BUDGET PERIOD ACTUAL BALANCE BUDGET
________________________________________________________________________________________________________________
P.A. - EMPLOYEE
===============
PERSONAL SERVICES
201-46300-02-101.00 FULL-TIME EMPLOYEES - REG 0.00 0.00 921.30 ( 921.30) 0.00
201-46300-02-107.00 SICK PAY 0.00 0.00 11.66 ( 11.66) 0.00
201-46300-02-121.00 PERA CONTRIBUTIONS 0.00 0.00 69.97 ( 69.97) 0.00
201-46300-02-122.00 FICA CONTRIBUTIONS 0.00 0.00 55.81 ( 55.81) 0.00
201-46300-02-125.00 MEDICARE CONTRIBUTIONS 0.00 0.00 13.06 ( 13.06) 0.00
TOTAL PERSONAL SERVICES 0.00 0.00 1,071.80 ( 1,071.80) 0.00
________________________________________________________________________________________________________________
TOTAL P.A. - EMPLOYEE 0.00 0.00 1,071.80 ( 1,071.80) 0.00
PORT AUTH. BOARD MEMBERS
========================
PERSONAL SERVICES
201-46300-99-103.00 PART-TIME EMPLOYEES - REG 4,000.00 0.00 3,080.00 920.00 77.00
201-46300-99-122.00 FICA CONTRIBUTIONS 0.00 0.00 162.75 ( 162.75) 0.00
201-46300-99-125.00 MEDICARE CONTRIBUTIONS 0.00 0.00 44.19 ( 44.19) 0.00
TOTAL PERSONAL SERVICES 4,000.00 0.00 3,286.94 713.06 82.17
________________________________________________________________________________________________________________
TOTAL PORT AUTH. BOARD MEMBERS 4,000.00 0.00 3,286.94 713.06 82.17
________________________________________________________________________________________________________________
TOTAL PORT AUTHORITY 121,400.00 90.75 79,553.93 41,846.07 65.53
________________________________________________________________________________________________________________
TOTAL EXPENDITURES 121,400.00 90.75 79,553.93 41,846.07 65.53
________________________________________________________________________________________________________________
REVENUES OVER/(UNDER) EXPENDITURES 0.00 ( 90.75) 34,878.03 ( 34,878.03) 0.00
============= ============= ============= ============= =======
OTHER FINANCING SOURCES (USES)
OTHER FINANCING SOURCES
201-39101.00 SALES OF GENERAL FIXED ASSETS 0.00 0.00 15,000.00 ( 15,000.00) 0.00
TOTAL OTHER FINANCING SOURCES 0.00 0.00 15,000.00 ( 15,000.00) 0.00
5-14-2021 09:18 AM CITY OF ROSEMOUNT PAGE: 4
REVENUE & EXPENSE REPORT - UNAUDITED
AS OF: DECEMBER 31ST, 2020
201-PORT AUTHORITY FUND
PORT AUTHORITY
CURRENT CURRENT YEAR TO DATE BUDGET % OF
EXPENDITURES BUDGET PERIOD ACTUAL BALANCE BUDGET
________________________________________________________________________________________________________________
OTHER FINANCING (USES) _____________ _____________ _____________ _____________ _______
________________________________________________________________________________________________________________
REVENUE & OTHER SOURCES OVER/
(UNDER) EXPENDITURES & OTHER (USES) 0.00 ( 90.75) 49,878.03 ( 49,878.03) 0.00
*** END OF REPORT ***
5-14-2021 09:18 AM CITY OF ROSEMOUNT PAGE: 1
REVENUE & EXPENSE REPORT - UNAUDITED
AS OF: DECEMBER 31ST, 2020
242-TIF DOWNTOWN-BROCKWAY
CURRENT CURRENT YEAR TO DATE BUDGET % OF
REVENUES BUDGET PERIOD ACTUAL BALANCE BUDGET
________________________________________________________________________________________________________________
TAXES
242-31050.00 TAX INCREMENTS 870,000.00 4,453.96 959,586.35 ( 89,586.35) 110.30
TOTAL TAXES 870,000.00 4,453.96 959,586.35 ( 89,586.35) 110.30
GRANTS & AIDS _____________ _____________ _____________ _____________ _______
CHARGES FOR SERVICES _____________ _____________ _____________ _____________ _______
MISCELLANEOUS REVENUES
242-36210.00 INTEREST EARNINGS-INVESTMENTS 1,000.00 0.00 18,597.85 ( 17,597.85)1,859.79
242-36215.00 INTEREST EARNINGS 0.00 0.00 902.38 ( 902.38) 0.00
TOTAL MISCELLANEOUS REVENUES 1,000.00 0.00 19,500.23 ( 18,500.23)1,950.02
________________________________________________________________________________________________________________
TOTAL REVENUES 871,000.00 4,453.96 979,086.58 ( 108,086.58) 112.41
============= ============= ============= ============= =======
5-14-2021 09:18 AM CITY OF ROSEMOUNT PAGE: 2
REVENUE & EXPENSE REPORT - UNAUDITED
AS OF: DECEMBER 31ST, 2020
242-TIF DOWNTOWN-BROCKWAY
TIF DOWNTOWN-BROCKWAY
CURRENT CURRENT YEAR TO DATE BUDGET % OF
EXPENDITURES BUDGET PERIOD ACTUAL BALANCE BUDGET
________________________________________________________________________________________________________________
TIF DOWNTOWN-BROCKWAY
=====================
SUPPLIES ___________________________________________________________________
OTHER SERVICES & CHARGES
242-49042-01-319.00 OTHER PROFESSIONAL SERVIC 17,000.00 0.00 14,734.00 2,266.00 86.67
TOTAL OTHER SERVICES & CHARGES 17,000.00 0.00 14,734.00 2,266.00 86.67
OTHER SERV & CHGS (CONT) ___________________________________________________________________
CAPITAL OUTLAY ACCOUNTS
242-49042-01-510.00 LAND PURCHASES 0.00 0.00 600,000.00 ( 600,000.00) 0.00
TOTAL CAPITAL OUTLAY ACCOUNTS 0.00 0.00 600,000.00 ( 600,000.00) 0.00
DEBT SERVICE ACCOUNTS
242-49042-01-601.00 PRINCIPAL ON WATERFORD NO 85,000.00 0.00 70,479.71 14,520.29 82.92
242-49042-01-611.00 INTEREST ON WATERFORD NOT 65,000.00 0.00 59,557.29 5,442.71 91.63
TOTAL DEBT SERVICE ACCOUNTS 150,000.00 0.00 130,037.00 19,963.00 86.69
________________________________________________________________________________________________________________
TOTAL TIF DOWNTOWN-BROCKWAY 167,000.00 0.00 744,771.00 ( 577,771.00) 445.97
________________________________________________________________________________________________________________
TOTAL TIF DOWNTOWN-BROCKWAY 167,000.00 0.00 744,771.00 ( 577,771.00) 445.97
________________________________________________________________________________________________________________
TOTAL EXPENDITURES 167,000.00 0.00 744,771.00 ( 577,771.00) 445.97
________________________________________________________________________________________________________________
REVENUES OVER/(UNDER) EXPENDITURES 704,000.00 4,453.96 234,315.58 469,684.42 33.28
============= ============= ============= ============= =======
OTHER FINANCING SOURCES (USES)
OTHER FINANCING SOURCES _____________ _____________ _____________ _____________ _______
OTHER FINANCING (USES)
242-49042-01-710.00 TRANSFERS 600,000.00 0.00 600,000.00 0.00 100.00
TOTAL OTHER FINANCING (USES) 600,000.00 0.00 600,000.00 0.00 100.00
________________________________________________________________________________________________________________
REVENUE & OTHER SOURCES OVER/
(UNDER) EXPENDITURES & OTHER (USES) 104,000.00 4,453.96 ( 365,684.42) 469,684.42 351.62-
*** END OF REPORT ***