2006-04-25~ r
PLEASE TURN OFF ALL CELL PHONES & PAGERS IN COUNCIL CHAMBERS.
AGENDA
~~
~I
~01~1
MOUND~HOUSING & REDEVELOPMENT AUTHORITY
REGULAR MEETING
TUESDAY, APRIL 25 - 6:3Q PM
MOUND CITY COUNCIL CHAMBERS
Pale
1. Open meeting
2. Action approving agenda, with any amendments
3. Action approving minutes: April 11, 2006 1
4. Indian Knoll Manor Mana er's Monthl Re ort 2-12
g Y p
5. Discussion/Action on Transit District Parking Deck, including 13-22
consideration of contract with Walker Parking for deck
design and preparation of construction plans and specs
6. Informational -letter from Dave Callister of Ehlers & Associates 23-24
on pre-payment of bonded debt
7. Adjourn
MOUND HOUSING AND REDEVELOPMENT AUTHORITY
APRIL 11, 2006
The Housing and Redevelopment Authority of and for the City of Mound,
Minnesota, met in regular session on Tuesday, April 11, 2006, at 7:25 p.m. in the
council chambers of city hall.
Members Present: Chairperson Pat Meisel; Commissioners David Osmek, Bob
Brown, Mike Specht and John Beise.
Others Present: City Attorney John Dean, Executive Director Kandis Hanson,
Community Development Director Carlton Moore, Cindy Reiter
1. Open Meeting
Chair Meisel opened the meeting at 7:25 p.m.
2. Approve Agenda
MOTION by Specht, seconded by Beise to approve the agenda. All voted in
favor. Motion carried.
3. Approve Minutes
MOTION by Beise, seconded by Specht to approve the minutes of March 28,
2006. All voted in favor. Motion carried.
4. Action on approval to include Indian Knoll parking lot with the 2006
Street Reconstruction Project
Cindy Reiter of Westport Properties presented a letter recommending approve to
include the parking lot at Indian Knoll Manor with the 2006 Street Project. There.
is currently $26,267 set aside in the capital fund account and the balance of
$28,888 will be available October 1, 2006.
MOTION by Specht, seconded by Beise to include this amount with the 2006
Street Reconstruction Project, as represented in the bids received. All voted in
favor. Motion carried.
5. Adiourn
MOTION by Specht, seconded by Beise to adjourn at 7:30 p.m. All voted in
favor. Motion carried.
Chair Pat Meisel
Attest: Bonnie Ritter, City Clerk
.~~,
-1-
Mound HRA
Indian Knoll Manor
Property Manager's Monthly Report
Apri124, 2006
Manager's Agenda
• March Bank Statement
• February Income Statement
• Review of Bills Paid
• Manager's Report
Resident Council Report
-2-
WELLS FARGO BANK, N.Q.
1221 COURTYARD BUSINESS BANKING
POST OFFICE BOX 8514
MINNEAPOLJS, MN 55479
~I~I~~I~I~~~II~~II~~~I~~I~~~II~II~~~~I~il„~I~I~~I~~~il~ll~~
HOUSING ~ REDEVELOPMENT AUTHORITY
SPECIAL ACCOUNT
CITY OF MOUND
FINANCE DIRECTOR
5341 MAYWOOD RD
MOUND MN 55364-1627
Page 1 of 3
Account Number:
Statement Period:
Image Gounf:
~~ss
. ~
~cos~~
000-0033530
Mare 1, 2006-
Mar 31, 2006
25
if you have any questions about this statement or your accounts, call: 800-225-5935 (1-800-GALL-WELLS).
Your Accounts at a Glance
Accaunf Beginning Depositsi Wifhdrawalsl Ending
Type Balance Credits Debits Balance
Basic Business Checking with Interest 8,400.90 24,884.33 - 21,759.22 1.1,526.01
000-0033530
News from Wells Fargo
Basic Business Checking with Interest 000-0033530
Housing & Redevelopment Authorify
Special Account
Feb 28 Beginning Balance 8,400.90
Mar 31 Ending Balance 11,526.01
Deposits and Credits --------------------------------------------------------------~----------------------------------- ------------------
Posted
Dafe Transaction Detail Amount
Mar 06 Hud Treas 303 Misc Pay 030606 410962421860103
RMT'VV"099 1 1 4384"'"""hud Operafing Fund MN0740 4,990.00
Mar 06 Deposit 3,992.00
Mar 06 Deposit 3,954.00
Mar 06 Deposit 409.25
Mar 06 Deposit 223.00
Mar 06 Deposif 163.00
Mar 06' Proof-Ad1 Addition Err On Deposit Ticket 40.00
Mar 06 Deposit 25.00
Mar 15 Deposif 1,036.00
Mar ?5 Deposif 427.00
Mar 15 Deposit 1~•
Mar 16 Deposit 266.00
Mar 16 Deposit 201.00
Mar 20 Hud Treas 303 Misc Pay 032006 410962421860103
RMT'VV"092280350"""""""`hud Capital Fund Program 9,000.00
Mar 31 Interest Paymenf 2.08
Confinued on next page
-3-
~. .,
,.... .
Page 2 of 3
1357
Housing & Rede~elt~pment Authority Accour-t Number: 000-0033530
Spgcia! ~4ccount Statement End Date!:- 03/31/0
Checks Paid. --- --------- -- ----- - -------------------------------------------------------------------------------------- - -
Check # Date Ampurat
22f)2.` Mar 01' 3,753:47
22D3,_ filar 1.5, 59.68; .:
2204:.. .. Mgr- 14
~ 62.40
2 ,
lVlar 14; ; 103.00'
22f16 Mar 10 ~ 1,153.72
2207 Mar 15 157.07
2~(7$ Mar 20 5,347.10
22R9~ Mar 17 97:15
221 Q N1ar 16 44.00
221`1 Mar 14" 150.00
2212 Mar 22 432.88
2213 11i1~r 1.7 230.97
2214: ..:.Mar 21 133.13
Gap:. ii- Check Sequence
Daily Balance Summary
Date. Balance
Feb 28 8,400.90
Mar 01, 4,647.43
Mar 06 18,435.68
Mar 10 17,281.96
Mar 13. 15,586.89
Nlar 14 15,271.89
Mar 15 12,953.46
Check # Date Amount
2215 Mar 16 52.27
2216 Mar 22 12.24
22,17 Nlar 93 193.98
2~~8' Mar 16 32.88-
2219 Nlar 21 333.76
2220 Mar 2.1 26.04
2221; Mar 20 47.92
_
2222 Mar 20 273.77
2223 Mar 13 1,509.09
2225 Mar 15 3, 728.68
2226 Mar 28 27.84
2227 Mar 31 3,804.58
Date Balance
Mar 16 13,291.31
Mar 17 12,963.19
Mar 20 16,294.40
Mar 21 15,801.47
Mar 22 15,356.35
Mar 28 ?5,328.51
Mar 31 11,526.01
Average Collected-Balance $ 13;557.17
Interest Summary
Annual Percentage Yield Earned This Period`
Interest Earned During This Period.
Year to Date 1ntePesf and Bonuses Paid
Total Interest and Bonuses Earned !n 2005
0.18%
2.08
5.81
26.35
Important=Q~n/ine.Lliscl+asure Notice for Qnline Customers-Only:
W.e have wade some important changes to the E-Sign Consent and Online Access Agreement that you accepted
when you started, using Wells Fargo Online or Wells Fargo Business. Q;nline Banking. For further information about
these changes, sign on to your secure online session, select the Messages & Alerts tab, and read the message in
your inb.ox titled: Important Chan,g~s to E=Sign :Consent and Online Access Agreement..
For Yctur~lr~terest'
,.: ~~
As, a welued..Wells Fargo custortx~r,..you can receive. daily account activity and atert notification by fax or email with
Illfells. Fargo lt~arning: ~'Xpr-ess service ..Your first month:, oft .his convenient: service: is FREE and sign-up is quick and
easy. Ta(k ,to,: yzur.W.ells=f_arga ba~eikee or ca/1.1=866=765=1568: for more details or to sign up.
Thar-k -you for banking with ItlfelfS Fargo.
-4-
.. ~ r
e MBIA
Summary Statement
March 2006
For more information, call MBIA Asset Management at (800)395-5505
Fax: (800)765-7600
:
~~~
~NIpiG ~'
4MPL~Fur~
Mound Housing and Redevelopment Authority
Account Number: MN-O1-0258-2001 Account Name: GENERAL FUND
Beginning Contributions Withdrawals Income Average Daily Month End
Balance Earned Balance Balance
This Month $504,464.61 $76,000.00 $0.00 $2,088.96 $569,260.52 $582,553.57
Fiscal YTD
Endin 12/31/0 $501,135.55 $76,000.00 $0.00 $5,418.02 $525,691.86 $582,553.57
Account Number: MN-O1-0258-2002 Account Name: MOUND HUD
Beginning Contributions Withdrawals Income Average Daily Month End
Balance Earned Balance Balance
This Month $1,816.56 $0.00 $0.00 $6.69 $1,819.98 $1,823.25
Fiscal YTD
Ending 12/31/0 $1,804.56 $0.00 $0.00 $18.69 $1,813.82 $1,823.25
Total of all accounts
Beginning Contributions Withdrawals Income Average Daily Month End
Balance Earned Balance Balance
This Month $506,281.17 $76,000.00 $0.00 $2,095.65 $571,080.50 $584,376.82
Fiscal YTD
Ending $502,940.11 $76,000.00 $0.00 $5,436.71 $527,505.68 $584,376.82
March 2006
Page: 1
-5-
04/19/2006 08:19 6129290422 WESTPORT PROPERTIES PAGE 02
~` Mound. MN Pubila Housins>I
2020 Commerce Boulevard
Niound.IIAAN 5536
As 4F
February 28, 2006
BALANCE SHEET
ASSETS
111 ! 01 -Cash General Fund 5,085.65
11 i 700 ~ Patty Cash 100.00
112200 -Tenants Accounts Receivable 5.71
112800 - City of Mound 910.11
118200 - General Fund investments 1,'788.03
121100 - Prepaid Insurance 4,113.65
140002 -Development Gast 1,505,904.64
14DOD3 - Development Cost Contra (2,188.083.55)
140005 - Aocumlated D®preciatlon (1,560,807.5$)
140007 - Buildings 1,642,97Q.53
140008 - Furniture,Equipment,Machines-Dw-elling 33,551.6)
140009 - Furniture,Equipment,Machlnes-Admin 17,493A1
140016 - Land Improvements 22,640.04
14pD17 - Building improvements 578,072.55
140055 - Mod Cost Complete 682,158.91
140095 -Mad Cost Uncomplete 38,463.92
150E00 -Mod Cost Uncampiete Contra (6.803.00)
"r07AL ASSETS
SLlR,1~LUS AND UABILtTiES
211400 - Tenants Security Deposits (8,255.00)
211410 -Tenants Pet Deposits (2,700.00)
211499 - Security Deposit Interest {613.14)
212900 - Notes Pay Levy Fund (60,~~~)
2137DD - Payment in Lieu of Taxes (3,64$.18)
213701 -PILOT' Current Year (1,484.22)
280200 - HUD PHA Contribution (223,985.75)
280600 - Retained Earrings {181,027.56)
Current Year Net Activity x,119.63
TOTAL SURF~LtJS AND LIABILITIES
-6-
04/19/2006 08:19 6129290422 WESTPORT PROPERTIES PAGE 03
r" Mound, MN Pubttc Nou~ins~
2020 ~t~mmerce Boulevard
Mound. MN 55364
As Of
February 28, X006
Statement of Operating Receipts $c ~xpenditurea
311000 - Dwelling Rents!
312000 - Excess Utilities
Total Rental Income
381000 - Investment Interest/Gensral Funds
369000 - Other Income
802000 - Operating Subsidy
Tote! Other Operating Receipts
Total Receipts
Expenses
411200 -Manager Payroll
414000 - Staff Training
415000 - Travel
417000 - Accounting Fells
417100 -Auditing Pees
419000 - Sundry-Administrative
419500 - Outside Management
Total Administrsthre Expense
422000 -Tenant Services
Total Tenant Services Expense
431000 - Water
432000 - Electricity
433000 - Gas
439000 - Other Utility Expense
439100 - Garbage Removal
Total Utllitias Expense
441000 - Maintenance Labor
442000 - Materials
443000 - Contract Costs
448000 -Protective Services
Total Maintenance Expense
YTD Oyer
Current Y'TD Prorated (Under)
Activltlc B s Budget
(9,049.71) (52,168.71) (53,758.35) (1,589.64)
0.00 0.00 (250.00) _ (250.00)
(9,049.71) (52,168.71) (54,005.35) 1,539.64
(1.41) (11.53) (186.85) (155.02)
(201.25) (712.00) (925.00) (213.00)
(4,990. _,,,, (29,976.00) (28~7Q7.1~} 288.90
(5,192.66) (29,699.63) (29,798.75) 99.12
{14.,242 51 $68.34 (83.807.10) „1,938.76
3,102.50 14,453.00 14,250.00 203.00
0.00 0.00 333.35 (333.35)
_
0.00 0.00 250.00 (250.00)
150.92 1,536.60 1,266.85 288.95
5,500.00 5,500.00 3,125.00 2,375.00
180.72 8,088.44 10,737.50 (4,849,06)
850.00 3 400.00 0.00 3,400.00
9,784.14 30,978.04 29,962.50 7,015.54
0.00 '0.00 250.00 ~„ (250.00)
0.00 0.00 250.00 (ZisO,~)
174.23 689.72 833.35 (143.63)
1,398.37 5,506.11 6,066.85 (580.54)
0.00 10,304.81 15,291.85 (4,987.04)
597.49 4,398.83 4,233.35 165.48
0.00 1585.18 3,000.00 _(1,414.62)
2,570.09. 22.484.45 _ _, 29.425.00 ~.. _55,~
3,493.50 15,591,00 17,787.50 (2,196.50)
79.62 2,557.91 3,158.65 (608.74)
175.24 3,356.98 4,025.00 (668.04)
0.00 0.00 360.00 (350.00)
3.748.36 _ 21~ 505.87 25.329.15 (3,523.
-7-
04/19/2006 08:19 6129290422 WESTPORT PROPERTIES PAGE 04
Mound. MN Public Hot~inp
~Q20 Commerce Boulevard
Mound. MN 55364
As Of
Fsbruarv 28, 206
S#~Itement of Operating Receipts & ExpQnditures
459000 - Insurance
452000 - Pmts in -~eu Of Taxes
454000 - Employee Benefit Contributions
Total General Expense
Total Routine Expense
Total Nanroutine Expense
Total Expense
YTD dv~r
Current YTD Prorated (Under)
~(viri Ba~sce Bld.~9~ .~
856.80 4,596.17 4,816.65 (220.48)
323.98 1,484.22 1,812.50 171.72
1,047.99 4,939.22
~ 6,100.00 (1,180.78)
2,328.77 ~ 11,019.61 12.229.18 (1,209.54)
18,431.38 85 987.97 97,195.80 ~,.,11 07.83
o.oo o.oa o.oQ o.oo
18.431.36 85.987.9y _ 9780 111,207.83)
-$-
04/19/2006 08:19 6129290422 WESTPORT PROPERTIES PAGE 05
'- Maund. MN Public Housins>e
20ZQ GommArce Boulevard
Mound. MN 55364
As Of
February 28, 2006
Budget Pragrese Report
Percent
YTD ~
l3alpnce Budget Budgst
Income
311000 - Dwelling Rental {52,168.71) (129,020.00) (40)9'6
312000 - Excess Utilities 0.00 800.00 0°k
Total Rental income (82,168.71) (129,620.00) 4096
381000 - investment Interest/General Funds (11.63) ('~•~) (3)°Yo
369000 - Other income
802000 - Qperating Subsidy (712.00)
_ (29,978. (2,220.00)
88 897.00 (32)g6
(42)%
Total Qther Operating Rscelpts (x9,699,83) (71,517.00) 42'~L
Total Receipts 81 869.34 (x01,13.7.00 41y6
Expenses
411200 -Manager P2yroll 14,453.00 34„200.00 42%
414000 - Staff Training 0.00 800.00 096
415000 -Travel 0.00 600.00 096
417000- Accounting Fees 1,536.80 3,040.00 51°Yo
417100 - Auditing Fees 5,500.00 7,500.00 73%
419000 - Sundry-Administrative 6,088.44 25,770.00 24%
419600 - Outside Management 3,400.00 0.04 096
Tota# Adminiatrative Expense 30,978.04 71,970.00 43hL
422000 -Tenant Services 0.00 B00.00 096
Total Tenant Services F,acpense 0,00 600.00 OyL
431000 - Water B89.72 2,000.00 3496
432000 - Electricity 5,508.11 14,560.00 38°10
433000 - Gas 10,304.81 36,700.00 28°/a
439000 - Qtl~r Utility Expense 4,39$.83 10.160.00 43%
439100- Garbage Removal 1,585.t8 7200.00 22%
Total Utilities Expense ZZ,494.45 70,820.00 32%
441000 - Maintenance E.abor 15,591.00 42,890.00 37%
442000 - Materials 2,557.97 7,600.00 349(0
4.43000 - Contrast Casts 3,356.96 9,660.00 35%
4aaooo - Pnatestive services a.oo 840.00 096
Tots! Maintenance Expense 21,SOS.87 60,790.00 3S?6
-9-
____ 04/19/2006 08:19 6129290422 WESTPORT PROPERTIES PAGE 06
Mound, MN Public Housino
2Q20 Commerce Boulevl~rd
Mound, MN 553B4
As Of
February 28, 2005
Budgex Progress Report
Percent
451000 - Insurance
452000 _ Pmts In Lieu Qf Taxes
454000 - Employee Benefit Gantributlons
~"otal General Expenso
Total l~ou#ine Expanse
Total Nonrautina Expense
Total Expense
5
YTD ~
Balance Budaat Buds~et
4,596.17 11,560.00 4096
1,484.22 3,150.00 47%
4.939.22 14,640.00 3496
11,079.61 29,350.00 SS'4L
88x987.87 733~270D0 3796
a.oo o.oo a%
86.987.97 233,270.00 37%
_~~_
t
INDIAN KNOLL MANOR
2020 COMMERCE BLVD
MOUND, MN 55364
UNPAID INVOICES SORTED BY VENDOR
UP TO AND INCLUDING April 30, 2006
April 11, 2006
PAGE: 1
SELECTED
DUE VENDOR VENDOR INVOICE INVOICE TO BE CUMULATIVE
DATE NUMBER NAME NUMBER AMOUNT PAID TOTAL
04-02-2006 3 PROGRAMMED MANAGEMENT CORP 70326444 47.92
TOTAL DUE 47.92 47.92
03-30-2006 6 WESTPORT PROPERTIES INC MAR06 POSTAGE 29.34
03-30-2006 6 WESTPORT PROPERTIES INC MAR06 MGMT FEE 850.00
04-04-2006 6 WESTPORT PROPERTIES INC APR06 RECURRING 30.00
- - - -
- - - - - - -
- - - - - - -
- - - - - - - - - - - - - - - - - TOTAL DUE
- - - - - - - - - - - 909.34
- - - - - - - - - - - - 957.26
- - - - - - -
04-20-2006 20 XCEL ENERGY 51-6383341-8 MAR06 1,344.31
- - - -
- - - - - - -
- - - - - - -
- - - - - - - - - - - - - - - - - TOTAL DUE
- - - - - - - - - - - 1,344.31
- - - - - - - - - - - - 2,301.57
- - - - - - -
04-16-2006 34 HOME DEPOT CREDIT SERV-MOUND 2078853 17.?2
04-16-2006 34 HOME DEPOT CREDIT SERV-MOUND 3026370 45.80
04-16-2006 34 HOME DEPOT CREDIT SERV-MOUND 6054977 50.17
04-16-2006 34 HOME DEPOT CREDIT SERV-MOUND 6121972 16.78
04-19-2006 34 HOME DEPOT CREDIT SERV-MOUND MAINT SUPPLYS 3.12
TOTAL DUE 133.59 2,435.16
04-18-2006 36 STS FLOORING INC 42957 707.48
- - - -
- - - - - - -
- - - - - - -
- - - - - - - - - - - - - - - - - TOTAL DUE
- - - - - - - - - - - 707.48
- - - - - - - - - - - - 3,142.64
- - - - - - -
03-30-2006 56 CENTERPOINT ENERGY 8000012941-3 MAR06 2,903.00
04-28-2006 56 CENTERPOINT ENERGY 8000012941-3 APR06 2,903.00
- - - -
- - - - - - -
- - - - - - -
- - - - - - - - - - - - - - - - TOTAL DUE
- - - - - - - - - - - - 5,806.00
- - - - - - - - - - - - 8,948.64
- - - - - - -
04-07-2006 101 C NABER AND ASSOCIATES 35143 MAR06 103.00
- - - -
- - - - - - -
- - - - - - -
- - - - - - - - - - - - - - - - TOTAL DUE
- - - - - - - - - - - - 103.00
- - - - - - - - - - - - 9,051.64
- - - - - - -
04-30-2006 102 MOUND TRUE VALUE HARDWARE 860248 .50
04-30-2006 102 MOUND TRUE VALUE HARDWARE X08466 27.97
04-30-2006 102 MOUND TRUE VALUE HARDWARE X08494 19.47
04-30-2006 102 MOUND TRUE VALUE HARDWARE X08640 14.99
" 04-30-2006 102 MOUND TRUE VALUE HARDWARE X08830 10.98
~~
`~ 04-30-2006 102 MOUND TRUE VALUE HARDWARE X09081 3.79
_11_
INDIAN KNOLL MANOR
2020 COMMERCE BLVD
MOUND, MN 55364
UNPAID INVOICES SORTED BY VENDOR
UP TO AND INCLUDING April 30, 2006
April 11, 2006
PAGE: 2
SELECTED
DUE VENDOR VENDOR INVOICE INVOICE TO BE CUMULATIVE
DATE
---------------------- NUMBER
------------- NAME
------------------------- NUMBER AMOUNT PAID TOTAL
04-30-2006
102 ----------
MOUND TRUE VALUE HARDWARE ----------------------
X09132 ------------------------
12.99 ---------------
TOTAL DUE 90.69 9,142.33
03-26-2006 105 IKON OFFICE SOLUTIONS 23083554 52.27
- - - - - - - - - - - -
- - - - - -
- - - - - - - - - - - - - - - - - TOTAL DUE
- - - - - - - - - - - - 52.27
- - - - - - - - - - - 9,194.60
- - - - - - -
04-30-2006 107 THE LAKER MAR06 ADS 624.74
- - - - - - - - - - - -
- - - - - -
- - - - - - - - - - - - - - - - - TOTAL DUE
- - - - - - - - - - - - 624.74
- - - - - - - - - - - 9,819.34
- - - - - - -
03-30-2006 111 CINGULAR/AT&T WIRELESS 13225982 MAR06 6.53
- - - - - - - - - - - -
- - - - - -
- - - - - - - - - - - - - - - - - TOTAL DUE
- - - - - - - - - - - - 8.53
- - - - - - - - - - - 9,827.87
- - - - - - -
03-30-2006 118 MINNEAPOLIS PUBLIC HOUSING 06 2ND CONSOLIDATED 27.92
- - - - - - - - - - - -
- - - - - -
- - - - - - - - - - - - - - - - - TOTAL DUE
- - - - - - - - - - - - 27.92
- - - - - - - - - - - 9,655.79
- - - - - - -
04-16-2006 125 IKON FINANCIAL SERVICE - LEASE 68805500 139.38
- - - - - - - - - - - -
- - - - - -
- - - - - - - - - - - - - - - - - TOTAL DUE
- - - - - - - - - - - - 139.38
- - - - - - - - - - - 9,995.17
- - - - - - -
04-20-2006 134 SHERWIN WILLIAMS 2116-2 272.53
- - - - - - - - - - - -
- - - - - -
- - - - - - - - - - - - - - - - - TOTAL DUE
- - - - - - - - - - - - 272.53
- - - - - - - - - - - 10,267.70
- - - - - - -
03-30-2006 139' STA-SAFE LOCKSMITHS CO 16401 20.00
03-30-2006 139 STA-SAFE LOCKSMITHS CO 16476 48.10
- - - - - - - - - - - -
- - - - - -
- - - - - - - - - - - - - - - - - TOTAL DUE
- - - - - - - - - - - - 68.10
- - - - - - - - - - - 10,335.80
- - - - - - -
04-16-2006 90010 WASTE TECHNOLOGY INC 97169 273.77
- - - - - - - - - - - -
- - - - - -
- - - - - - - - - - - - - - - - - TOTAL DUE
- - - - - - - - - - - - 273.77
- - - - - - - - - - - 10,609.57
- - - - - - -
02-25-2006 90011 IDCSERVCO 10608530 965.80
- - - - - - - - - - - -
- - - - - -
- - - - - - - - - - - - - - - - - TOTAL DUE
- - - - - - - - - - - - 965.80
- - - - - - - - - - - 11,575.37
- - - - - - -
- ~ L'
5341 Maywood Road
Mound, MN 55364
(952) 472-3190
MEMORANDUM
To: Honorable Mayor and City Council
From: Sarah Smith, Community Development Director
Date: April 18, 2006
Re: Overview -Transit District Parking Deck
Summary. The HRA will receive a presentation regarding the Transit District
parking deck project at its April 25, 2006 meeting. Members of Staff and the proposed
project team will be present to discuss the project.
Project History and Overview. Members of the City Council may recall that the
construction of a parking facility in the Transit District was depicted in the 2000-2001
Downtown Concept Plan. Specifically, the need for a parking facility was deemed to
be necessary to accommodate both existing uses and future needs associated with
the redevelopment in the east comer of the property commonly refer-ed to as the
"Mueller-Lansing site" (ML.)
Proposed Design. The current design, as proposed, includes a 126-stall facility
which includes 50 spaces on the upper floor to be designated for Park and Ride use.
The project also includes bus lanes, pedestrian facilities, signage, a transit station and
permanent location for the farmers market. Council members are advised that the
architectural /structural appurtances previously included for the farmer's market have
been removed from the project due to budget constraints.
Transit Oriented Development Grant. As the City Council is aware, the Hennepin
County Board of Commissioners awarded the City of Mound a $1 M Transit Oriented
Development (TOD) grant to assist with project funding. Favorable components of the
parking deck, as noted by the County, were its proximity to housing in and around the
downtown area, the inclusion of a transit station and designated stalls for Park and
Ride use. Members of the Council are advised the grant agreement with Hennepin
County states that the project must be completed by June 2007 or grant funding will
be lost.
Parking Demand Study. A parking study for the area was undertaken by Walker
Parking and SRF Consulting (on behalf of Hennepin County) to determine and confirm
the parking demand within the subject site and surrounding area. According to the
report, 126-spaces was determined to be the appropriate size as it accommodates
both existing demand and future needs associated with the east property (M/L site.)
Members are advised that Teny Haakala of Walker Parking and Mike Monahan of
SRF Consulting will be present at the 4/25 HRA meeting and will provide an overview
of the parking study and proposed deck design/sizing.
-13-
Project Budget and Financing. A copy of the proposed project budget dated March
27, 2006 has been included. Additionally, a memo from the Sid Inman, the City's
Financial Consultant, which explains the financing of the project has also been
included. Mr. Inman will also be present at the 4/25 HRA meeting.
Public Agency Partners. In addition to the $1 M grant from Hennepin County, the City
has also received a financial commitment from Metro Transit in the amount $200K to
assist with the funding of the restrooms and bus lanes. Additionally, the project is
also included in the MCWD /City innovative stormwater funding agreement. Lastly,
the MPCA, through the Brownsfield grant program, paid for the Phase II
environmental testing in 2004 in the Transit District and may assist with funding of the
Development Response Action Plan (DRAP.)
Transit District Owners. Staff wishes to affirm that input from the involved
downtown property owners and businesses is integral to this project and Staff has
attempted to keep the involved owners up to date with regard to the proposal and
recently met with Bruce and Patty Dodds regarding the parking deck and also has
extended an invitation to the Mike Mueller, Sr. Staff anticipates detailed discussions
with the property owners and other interested parties as the project moves forward.
General Comments.
It is important to mention that this project is very important to Hennepin County
Commissioner Penny Steele as it is the first project in her district which has
been provided grant funding and she is very excited to see it come to fruition.
Additionally, in an attempt to "get the project up and going," Hennepin County
awarded the City more dollars than were originally requested due to
Commissioner Steele's strong support for the project especially because no
TIF dollars were being used.
• The availability to incorporate a transit station and Park and Ride stalls is also
important as it satisfies the City's obligation with Metro Transit to replace the
Park and Ride stalls which were lost due to the CSAH 15 reconstruction and
relocation of the transit station from the Auditor's Road District.
• Members of the Council are advised that the relocation of the historic well from
the Auditor's Road District for reuse as the transit station is an important
component of the project.
• Page 2
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• The opportunity to expand the deck, to accommodate future P/R needs is
presently being evaluated by Mound and Metro Transit staff. Additionally, the
option of "oversizing" the structural components of the facility so as to build
another level(s) at a future date is being considered as a possible bid-alternate.
• The most pressing issue, at present, is to get the project underway, including
the preparation of plans and specifications, so as to get in the ground by late
summer so as to meet the June 2007 project deadline.
Other activities currently in play include the transfer of property associated with
the CSAH 15 road project and a proposed property swap with the Hennepin
County Regional Railroad Authority both of which are currently being worked
on by City and Hennepin County staff. It is important to future note that the
HCRRA proposed property swap will also provide the necessary property to
accommodate the future building site on the east side of the Transit District.
• The redevelopment of the ML site cannot proceed unless the parking deck
moves forward.
• The staging of construction in the Transit_ District will need to be sensitive to the
adjacent uses especially with regard to access for Dodd's True Value.
• The opportunity and financial feasibility to include a "green roof' on the upper
floor of the facility is being considered and evaluated in cooperation with the
MCWD. Other unique and/or innovative stormwater treatment strategies are
also being pursued. Funding assistance for these components, as previously
stated, would be eligible for funding reimbursement from the MCWD.
• ~ Walker Parking has suggested that the City evaluate its current parking stall
size and parking requirements and consider amending its zoning code.
Requested Action. A contract from Walker Parking for professional services for
facility design and preparation of plans and specifications is forthcoming and will be
available at the meeting for review/consideration/action, if not before. Members of the
Council are advised SRF Consulting Group, STS and HKGI will be working as sub-
consultants on the project.
• Page 3
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.-.
April 12, 2006
To: Kandis Hanson -City of Mound
Carlton Moore - City of Mound
Sarah Smith - City of Mound
Gino Businaro - City of Mound
CC: John Dean -Kennedy and Graven
Steve Bubul -Kennedy and Graven
Bruce Chamberlain -Hand K
From: Sid Inman -Ehlers & Associates, Inc.
Rebecca Kurtz -Ehlers & Associates, Inc.
Dave Callister -Ehlers & Associates, Inc.
Subject: Parking Ramp Financing
Date: 04-11-2006
You have asked Ehlers & Associates to look into the methods for financing the proposed parking
ramp in the downtown transit district. As we have discussed, since the City is not intending to
assess any of the cost to property owners, you cannot use your General Obligation Taxing
Authority as credit for the bonds. The alternative to your General Obligation is to issue a
Limited Pledge Tax Revenue Bond and pledge funds from another source to pay the annual debt
service.
It is our understanding that the HRA currently has an annual tax levy of around $135,000 to
$138,000. It is our understanding that it may be willing to consider this as the source of annual
payment for these bonds. We provided this information to an investment banker. Based on their
review using current. rates, the HRA could pledge $130,000 of its annual tax levy to a 20 year
Limited Pledge Tax Revenue Bond, and it would provide net proceeds for construction of the
ramp in the amount of around $1,378,000.
It is our understanding that this item will be discussed at an HRA meeting on April 25, 2006.
We will have a member of our staff there to discuss this item further and answer any question
you may have.
-16-
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_17_
RAMP CONCEPTUAL DRAWINGS
~ series of conceptual drawings has be'~completcd by Walker Parking Consultants as
pout of this study. Due to site constrictions, the most efficient ramp can only
a~~commodate 126 spaces. If an additional level is constructed, the cost will rise
significantly, and the space count will increase by approximately 56 spaces per level. A
s~~ggested action would be to construct the 126 spaces and monitor the effectiveness of
tl~e ramps supply serving the area. If the supply proves to be insufficient, the feasibility
o~~ adding an additional level can be explored.
7 he conceptual drawings completed. by Walker Parking along with conceptual drawings
~ c?~- a potential "green roof" area for the ramp are presented in Appendix D.
CONCLUSIONS
~ n parking study was completed for the Mound I-Iarbor Renaissance Project. 'I'o complete
this study, an inventory of existing conditions was completed. Land use quantities,
p:~rking supply, and parking utilization were used to develop a special parking model.
'I lle parking model represents the worst case scenario in teens of the highest amount of
p irking demand.
7 he model was used with the future build conditions as land use inputs. Any shortfalls m
s~~pply would be accommodated in a new municipal ramp to be built within the study
a~ ea. This ramp would also have an additional SO spaces for a park and ride to be used by
1\~letro Transit patrons. The remainder of the ramp will serve a new office and retail
b~~ilding, a fanners market, and an existing hardware store. According to the parking
model, the minimum supply that needs tc~ be constructed in the ramp is 94 spaces.
The future land uses were analyzed in comparison to the City of Mound Zoning Code
requirements. The zoning code, which has high requirements for residential and retail
s}~ace, predicts a shortfall of over 450 spaces for the study area. With some modest
reductions in requirements for retail and residential land use, the total supply needed for
the area is 156 spaces.
T'he parking ramp should be constructed to accommodate a minimum of 94 spaces. If at
all possible the ramp should have a capacity approaching 150 spaces to guarantee
s~-fficient parking for the study area.
Cut~rent conceptual drawings indicate that 1.26 spaces is the most efficient number of
spaces that can be constructed in the proposed parking facility. It is recommended that a
ramp of 126 spaces, that could be expanded (56 spaces per full level) be constructed. The
usage and area parking demand can be monitored to determine if 126 spaces is adequate.
If not, then steps can be taken to add an additional level of parking supply.
City of Mound Parking Study Page 10
December 2005
-19-
.._..,c,~o~D
Master Plan
n Koegler Group Inc.
JWLY, 'LUUb
-21-
~ Overview
-~:..
-:,
City of Mound is conducting major downtow "`~~~ '' ~~
that has gained broad recognition, won seve - ~--~~^ ~~,
awards and secured significant grant funds ,, ~ ~
including FWATEA21, Metropolitan Council
County ERF & REPP. ~: _, ~ ~ '~
As part of its downtown redevelopment effort,°' ~ ~ , *~ - - // ~
Mound is developing a transit facility to incluc~ - k .r &~
o Restored wellhouse as transit shelte~«~ ~ -'~`-~ ~ ~~"~~, - \
rail corridor ;~, ~a,a,~ ~ /r o ~~h, _
~~
__
~ -~8=car dedtcatedl~Fetr~-Transit park l ;~ . ;1 ~, ~~ --
,~- -
public parking ramp ~:~~>< ~~ ,t na~lal,anar .
realoretl WaN Houae
o farmers market pavilion " ' _ ~_
•k,
o bus lay-over bays ---_'-."`----~--_-_`_` __ _- _ _ . _-~ ~ __ - '~,
o innovative stormwater treatment tect " -- - ~~
U
• Transit facility improvements are scheduled
construction.
In
• .City and County are collaborating on enviror
the Transit District properties.
Downtown Mound Area Map
Mound Visions
Transit District Develo went Concept ~~
P
®® Hoisington Koegler Group, Inc January 26, 205
-22-
~,,
~i~n~
To: Gino Businaro, City of Mound
From: Dave Callister
Bubject: - Prepayment of Bonded Debt --
Date: April 17, 2006
& ASSt3C1ATES f1dC
I spoke with Councilmember John Beise recently regarding the concept ofpre-payment
of additional principal each year against outstanding bonded debt. As I understand it,
Coucilmernber Beise's question was "Can the City pre-pay principal on its existing
bonded debt and reduce interest costs and the term of the debt?" The theory is similar to
a homeowner paying an additional $100 per month towards the principal payment
resulting in lower interest costs and a reduction in the term of the mortgage.
The municipal bond market operates differently than the home mortgage market in a
number of ways.
• Normally, a home mortgage is held by one financial institution whereas a
municipal bond is held, in denominations of $5,000, by numerous individuals and
institutional entities.
• Bondholders trade in the secondary markets.
• Bonds are usually pre-payable after the first ten years.
• Bonds are most frequently called by maturity. The concept of accelerating
principal payments to reduce the term of the bond is not a normally accepted
practice because of the many bondholders and the difficulty in identifying and
choosing which bondholders will be paid off early.
While this type of product may be legally possible, as a practical matter it is not done and
the existing municipal bond market is not likely to accept this product unless there is
demand from municipal issuers. If such a product were offered it is likely there maybe
additional costs including higher interest rates due to investors demanding a higher return
for the risk of prepayment at any time. ,
3060 Centre Pointe Drive
Roseville, MN 55 1 13-1 105
651-697-8553 Fax: (651) 697.8555
dcallister®ehlers-inc. com
http://www.ehlers-inc.com
-23-
Alternatively, there is nothing preventing the City from setting aside budgeted funds or
reserve funds in a special fund until a particular bond's call date. Under this scenario, the
investment and monitoring of these funds on a regular basis is crucial.
Another approach could be to set aside funds on an annual basis, utilizing any fund
balance above the city's policy, and setting these funds aside for early retirement of
outstanding debt.
If the City is considering such a concept, I would recommend that your most recent debt
study be updated to give you a complete picture of your outstanding debt.
I am planning to attend the Apri125`~ FiKA meeting to answer any questions on this issue
or any others that you may have.
...._..._~~.,_.~....___~.._....__....,..__..,.~.~._~........ - -_,.~_......_.._......_._~._.~...______..w._....,_-.~
3060 Centre Pointe Drive 651-697-8553 Fax: (651) 697-8555
Roseville, MN 55113-1105 dcallister@ehlers-inc.com
http://www.eh lers-inc. com
-24-