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2002-11-26 • /rT1TT ~~ ~°~`I MOUND HOUSING AND REDEVELOPMENT AUTHORITY NOVEMBER 26, 2002 7:00 P.M. PAGE 1. OPEN MEETING 2. ACTION APPROVING AGENDA, WITH ANY AMENDMENTS 3. ACTION APPROVING MINUTES: NOV 12, 2002 REGULAR MTG 2-3 4. REPORT BY VIP PROPERTY MANAGEMENT ON INDIAN KNOLL 4-12 MANOR, WITH ANY NECESSARY ACTION ~. UPDATE ON DOWNTOWN REDEVELOPMENT PROGRESS 6. REQUEST BY DEVELOPERS FOR DEVELOPMENT AGREEMENT 13-14 EXTENSION(S) 7. ADJOURN n u CITY OF MOUND • HOUSING AND REDEVELOPMENT AUTHORITY MEETING NOVEMBER 12, 2002 The Housing and Redevelopment Authority of and for the City of Mound, Minnesota, met in regular session on Tuesday, November, 12, 2002, at 6:30 p.m. in the council chambers of City Hall. Members Present: Chairperson Pat Meisel; Commissioners Bob Brown, Mark Hanus, Peter Meyer and David Osmek. Others Present: City Attorney John Dean, Acting City Manager Gino Businaro, City Clerk Bonnie Ritter, Mike Mueller 1. OPEN MEETING Chair Meisel opened the meeting at 6:35 p.m. 2. APPROVE AGENDA MOTION by Hanus, seconded by Osmek to approve the agenda. All voted in favor. Motion carried. 3. APPROVE MINUTES MOTION by Brown, seconded by Hanus to approve the minutes of the October • 22, 2002 regular meeting. All voted in favor. Motion carried. 4. PUBLIC HEARING ADOPTION OF AN AMENDMENT TO THE BUSINESS SUBSIDY CRITERIA Chair Meisel called the hearing to order at 6:37 p.m. City Attorney John Dean indicated the changes are prompted by changes in the last legislative session. After no public comment was offered, the public hearing was closed at 6:38 p.m. MOTION by Osmek seconded by Hanus to adopt the following resolution. All voted in favor. Motion carried. RESOLUTION NO.02-13H: RESOLUTION ADOPTING AMENDED BUSINESS SUBSIDY CRITERIA 5. MEMORANDUM OF UNDERSTANDING BETWEEN THE CITY OF MOUND, THE MOUND HRA AND MUELLER-LANSING PROPERTIES MOTION by Brown, seconded by Osmek to approve the Memorandum of • Understanding as amended. All voted in favor. Motion carried. -2- Mike Mueller expressed concern over the flexibility in having the agreement • amended after it is signed. If a situation arises because of the railroad, he was concerned that the city could terminate the agreement without input from Mueller- Lansing. He asked if the council would consider extending the agreement if such unforeseen circumstances would occur. It was the consensus of the Council that there could be further considerations if circumstances arise that aren't foreseen at this time. 6. ADJOURN MOTION by Osmek, seconded by Brown to adjourn at 6:50 p.m. All voted in favor. Motion carried. Chair Pat Meisel Attest: Bonnie Ritter, City Clerk • • -3- 1.~E~0z 11~16AM VIP PROPERTIES N0.622 P.1i4 ^~ ! , ~ ,~ - SIP PPQP~RT~~~ ~~~I I ~~ .........~,......~~.........~........~......~......~ ..............~.....~.~.................................................,............. • VTA FAX 952-4720620 Novemper 21, 2002 City of Mounnd ' Gino Busina~+o VIP AGENDA FOR 11-26-2002 MEFTTNG 1. Mound/Indian knoll October 2002 bills 2. Oct+~ber X1,,2002 financials 3. Progress Report Thank You Sarah Carlson VTP Properfiies I• 1130 Minnctc~~ka MiIL~ Ronc1 / Minnetonka, Minnesota 55305-5157 /Phone: 952-~3R-~r2 -4- N0.62z MOUND HOUSING ,AND REbEV~LOpMENT AUTHORITY INDIAN KNOLL MANOR November-02 2 3 4 S 6 7 8 9 ~0 11 12 13 14 15 76 17 18 19 20 21 22 23 24 26 26 27 28 29 30 31 32 CHECK NO 49?7 .AMERICA GUARD 4978 SFI 4979 B SYLVESTER 4880 BAREFOOT "TURF 4981 C NABER 4982 CITY OF MOUND 4983 CITY OF MOUND 4984 FRONTIER COMMUNICATJOJuS 4985 . IKON 4986 10$ 4987 JR APPLIANGES `~~ L(a~RTY MUTUAL fNS 4989 LIGH1'YE,gR 4990 M E I 4991 MILAN COMM 4992 MIDWEST LIGHTING 4993 MOUND TRUE VALUE 4994 M S I 4995 OFFIGE DEPOT 4996 PARK SUPPLY 4897 RENTAL RESEARCH 4998 RELIANT ENERGY 4999 STS FLOORING 5000 DEPT OF LA>30R ~ INpLISTRY 5001 VOIp 5002 VOID 5003 VOID 5004 VIP PROPERTIES soo5 VIP PROPERTIES 5006 XCEL ENERGY 5007 i-McIT P . 4i4 ' ~ 44.70 NOV SERVICE $ 194.00 EMPLOYEE BOND $ 396.77 NOV SERVICE $ 62.00 OCT CERTS $ 340.80 FALL CLEANUP $ 95.00 OCT SERVICE $ 950.63 9-9 TO 9-30 $ 175,91 REIMBlMN DEPT OF REV ~ 232.05 OCT SERVICE $ 214.54 TONER CARTRipGES $ 109.37 NOV !-EASE $ B5.00 RECYCLE APPLIANCES $ 767.Oo FINAL WORK COMP $ 8.76 OCT LONG pISTANCE $ 303.94 ELEVATOR SERVICE $ 14.54 PAG(:RS $ 108.54 LIGHTS $ x•47 MISC SUPPLIES $ 644.50 BOILER R>RPAtR $ 46,65 OFFICE SUPPLIES $ 79.27 SUPP1.(ES $ 67,50 APP FEES $ 880,79 OCT SERVICE $ 1,594,38 2 NEVI) 4ARPETS $ 100.00 BOI~.ER L1C6NSES ~ - PRINTER 1=RROR $ _ PRINTER ERROR PRINTER ERROR ~ 1,650.00 OCT MGMT FEE $ 3,095.82 PAYROLL/MAINT REIMS $ 934.97 9.25 TO 10-24 7,606.00 INSURANCE PREMIUM $ 20,867.90 • • -5- GL0311VG i• ASSETS 1111.01 Cash General Fund 1117.00 Petty Cash 1122.00 AIR Tenants 1122.01 Allow/Doubtful Account 1129.00 City of Mound 1162.00 Gen Fund investments 1211.00 Prepaid Insurance 1400.02 Development Cost 1400.03 Dev Cost Contra 1400.05 Accum Depreciation 1400.07 Buildings 1400.08 Furn,Equip,Mach-Dwell 1400.09 Furn,Equip,Mach-Admin 1400.16 Land Improvements 1400.17 Building Improvements 1400.55 Mod Cost Complete 1400.95 Mod Cost Uncomplete TOTAL ASSETS ~URPLU$ AND LIABILITIES 2111.00 A/P Vendors 2114.00 Tenants Sec Deposits 2114.99 Sec Dep Interest 2129.00 Notes Pay Levy Fund 2134.00 Accrued Utilities 2137.00 Payment in Lieu of Tax 2240.00 Prepaid Rent 2290.21 Deferred Credit CF 2001 2802.00 HUD PHA Contribution 2806.00 Retained Earnings TOTAL SURPLUS AND LIABILITIES • Mound, MN Public Housing 2020 Commerce Boulevard Mound, MN 55364 As Of 9130102 BALANCE SHEET 90,711.11 100.00 4,593.55 (361.55) 910.11 11,298.09 13.67 1,505,904.64 (2,042,760.55) (1,610,252.54) 1,642,970.53 31,901.13 16,477.02 8,680.00 373,679.86 536,855.91 8.900.00 579.620.98 (12,558.78) (8,958.00) 898.34 (90,000.00) (2,739.35) (12,223.54) (409.65) (100.00) (459,944.52) 6.414.52 1579.620.98) -6- CLOSING Mound, MN Public Housing 2020 Commerce Boulevard Mound, MN 55364 9/30/02 COST STATEMENT FOR CAP FUND 2001 01-1406.00 Operation 01-1460.00 Dwelling Structure TOTAL Advances To Date Excess or (Deficiency) of Advances Cumulative Costs/ Advances 12,000.00 8.900.00 0 120.900,001 9~Q Over! (Under) Budget Buds~et 12,000.00 0.00 52.878.00 (43.978.00) ~ $Z 143.978.001 * This amount is reduced by $100.00 for excess in advances received from HUD but not yet expended. (See acct 2290.21) • II • -7- CLOSENG Page 1 of 2 Mound, MN Public Housing • 2020 Commerce Boulevard Mound, MN 55364 As Of 9/30102 TR(AL BALANCE 1111.01 Cash General Fund 90,711.11 1117.00 Petty Cash 100.00 1122.00 Tenants A/R 4,593.55 1122.01 Allow/Doubtful Account (361.55) 1129.00 City of Mound 910.11 1162.00 Gen Fund Investments 11,298.09 1211.00 Prepaid Insurance 13.67 1400.02 Development Cost 1,505,904.64 1400.03 Dev Cost Contra (2,042,760.55) 1400.05 Accum Depreciation (1,610,252.54) 1400.07 Buildings 1,642,970.53 1400.08 Furn,Equip,Mach-Dwell 31,901.13 1400.09 Furn,Equip,Mach-Admin 16,477.02 1400.16 Land Improvements 8,680.00 1400.17 Building Improvements 373,679.86 1400.55 Mod Cost Complete 536,855.91 2111.00 Vendors & Contractors (12,558.78) 2114.00 Tenants Sec Deposits (8,958.00) 2114.99 Sec Dep Interest 898.34 129.00 Notes Pay Levy Fund (90,000.00) 34.00 Accrued Utilities (2,739.35) 137.00 Payment in Lieu of Tax (12,223.54) 2240.00 Prepaid Rent (409.65) 2290.21 Deferred Credit CF 2001 (100.00) 2802.00 HUD PHA Contribution (459,944.52) 2806.00 Retained Earnings 6,414.52 U -$- Mound, MN Pubiic Housing TRIAL BALANCE CONTINUED 01-1506.00 Operations Contra 01-1406.00 Operations 01-1460.00 Dwelling Structure TOTAL Cl.OSI;NG Page 2 of 2 (12,000.00) 12,000.00 8,900.00 • • -9- ~• WFLLS FARGO BANK M1i1iNESOTA, N.A. RIDGEDALE OFFICE ~INNE~PO~lS MN 35479 Raga t of 3 Accoup! Number' Statement End Date: iyumber of EnclgSUres; P.z~a 644 000-0033830 X0/31/23 MOUSING & R~DRyS~.OPMCNT AtlTHORTTY SPECIAL ACCOUNT CITY 0~ FOUND FXNANC~ DIRSCTOR 534I MAYWOQD RD MOUND SIN 55364-1627 If you have any questions about this statemer~f ar yflur acco~0ts, call; 8A0-2259,35 (~-80Q-CALL-WSLLS). You?' I~tccoun~ fit` a CIarACe-•• - • _ •. Account Seginnin8 Depositsf Withdrawals/ ~ Ending type Balance Credits Dobits Balance Basic Business Checkin0 Witi~ Interest 90,562.61 ?7,302.78 , 16,780.22 86,385.77 000-00335$0 News from Wells Fargo ' V!(ELLS RARGG DOES PAYRbLL. NOT ONLY DO WE BUT ALSO A BASIC ~USNVESS CHBCiCdNG ACCOI WHEN -T IS USED TO FUND RAYROLL, AND A ~ao~ 99!9!02 ANO a2/3?/02 f~t3R FREE JNSTALLATJOiV (((yyyi ENT~'A Kf ypV Ri] PA YR LL9 FOR MORE N ORM ~~ OF ANA - -- Easic Business Cheokigg Rl+lith Jnterest 000-0033530 ' Sep 30 ~eginning Balance Ocf3? Ending Balance 86,385.7 peposits and Credits w,.,._-.-,~,_~--.._.~,_-------~----.~,~..~,.~.,.,..,~,.,,.,.M-.--,~~„.-•-----_-,-----,--------- Data Transaction Detail Oct 07 Deposit Oct 29 Qgpasit Oct 31 Intoresf Paymar?t Withdraws/S and De~bits ---•-----------.~.,-°-----~___,,._.,~.~~,.-..____,-~„-.~„--~.___._~.-.r.-.-.-.,,...------------- • Date Transaction Detail Oct 31 Checks Returned With Statement Foe 90,882.61 Amount 9,563.55 7,732.00 7.23 .Amount - 2.00 Checks Paid ---~-.,---,-_..-.~.--------------....~._.r~.._._.~.~..,......____.__-~.,....___,__.-..r,--_.__,.,,M,.~,__-_ Check #~ Dafe Amount Qc 2 4 2.00 Z 4953 Oct 25 4~1. 0 4954 Dot 24 331,02 495 Oct 24 734.85 Check # Date Amounf 4956 Ocf 24 62.00 4957 Oct 17 964.67 ~ ~ 6U ~~ Oct ~ 0 .0 4962 ' Oct 24 ! 16.26 4963 Oct 23 19,00 Gap in Check Segtlenco • Cont-nued on next pag© -10- MBIA ,~s~ohf __ a '_ • Summary Statement ~etober 2002 For more information, call MBIA Client Services at (800)395-5505 Fax: (800)765-7600 4MP~FtrNn Mound Housing and Redevelopment Auth. Account Number: MN-O1-0258-2001 Account Name: GENERAL FUND Beginning Contributions Withdrawals Income Average Daily Month End Balance Earned Balance Balance This Month $162,989.13 $0.00 $0.00 $195.82 $163,091.22 $163,184.95 Fiscal YTD Endin 12/31/0 $99,413.22 $62,000.00 $0.00 $1,771.73 $141,957.93 $163,184.95 Account Number: MN-O1-0258-2002 Account Name: MOUND HI1D Beginning Contributions Withdrawals Income Average Daily Month End Balance Earned Balance Balance This Month $11,298.09 $0.00 $0.00 $13.56 $11,305.16 $11,311.65 Fiscal YTD Endin 12/31/0 $11,170.82 $0.00 $0.00 $140.83 $11,242.45 $11,311.65 Total of all accounts Beginning Contributions Withdrawals Income Average Daily Month End Balance Earned Balance Balance This Month $174,287.22 $0.00 $0.00 $209.38 $174,396.38 $174,496.60 Fiscal YTD Endin 12/31/0 $110,584.04 $62,000.00 $0.00 $1,912.56 $153,200.38 $174,496.60 •i • October 2002 Page: 1 -~~- • Indian Knoll Manor, Mound Report to [IRA Council November 26, 2002 Resident activities: • Halloween Fright Night- Residents had cover dish treats. Enjoyed by 20 • Monday -Stretch exercise led by resident of Indian Knoll • Friday night - Enjoy a movie, or cards and games ~ Monthly Birthday parties are now celebrated • Saturday November 23, 2002, a Thanlcsgivir~ Dinner will be served with residents contributing covered dishes. • i'~UD lnspeetions of October 28, 2002 And annual inspections: Tha lnspacrions chat ware conducted in conjunction with the Department of Housing and Urban Development and annual inspections ret]ected ygits that had a variety of mainentonce works needed. All smoke datoctors ware eheckod and if inoperable were repaired immediately. Work orders were written for other maintenance work needed and )?eve boen comploted. 1n addition to routjne matters Wo have exporiencod some boilerralated problems that have been addressed to ensure heating throughout the building. We anticipate the need to increase parking spacos at Indian Knoll and will bring a proposal to Council for thou review, 7"wo new residence joined tho community of Indian Knoll this monEh, we welcomed Mr. Gary Stearns and Mf5. Muriel Strand. C7 -12- E H LE RS & ASSOCIATES INC O To: Kandis Hanson, City of Mound From: Jim Prosser, Ehlers & Associates W Date: November 20, 2002 Subject: Mound Harbor Renaissance Request for Agreement Extension Mound Harbor Renaissance, LLC (MHR) has requested a six month extension of the preliminary development agreement with the potential to extend for an additional six months. The agreement is scheduled to expire on December 31, 2002. Section 10 of the agreement does permit extension for a period of up to sixty days, provided that a request is submitted no later than seven days prior to the last City Council and HRA meetings in November. MHR has made a request within this time frarne. MHR reports that they have been engaged in preparing site plans substantially consistent with the Mound Visions guidelines, determination of redevelopment costs, analysis of required government approvals, review of financing sources and general project feasibility. Given the complexity of this project the developers have requested additional time to complete these tasks. The Project Team has not yet reviewed this information. MHR is preparing to present the results of this preliminary analysis to the Project Team within the next 30 days. It is recommended that MHR be granted an extension until February 25, 2002. If granted, the Project Team will report to the HRA regarding the status of activities necessary to complete preliminary development activities and to prepare a final development agreement by February 25, 2003. This report would be the basis of review of the request to extend the agreement for an additional six months as requested by the developer. LEADERS IN PUBLIC FINANCE 3060 Centre Pointe Drive Roseville, MN 55113-1105 inc.com Phone: 651-697-8503 Fax: 651-697-8555 Email: jim@ehlers- C] •i • -13- ~.~~r.~i~c~c.~~c~ • P.O. Box 125 Moved, 'I~ n s S,t~ ~ ((612j 221-1141 ~ ~~ (952j 495-8121 I November 19th, 2002 Mound Housing & Re-developme~ Authority City of Mound 5341 Maywood Road Mound, MN 55364 Dear Mi-iRA: Please accept this letter as a formalest~ ues todevelop the downto revelo~ P~ preliminary developers agreeme plan. We stall have a number of un-answered questions concernsng the Railroad ax~i tl~ TIF financing which impact the feasibility of the project.lVIHR at this time would request a 6 month extension with the potential for an option to emend for an additional 6 months. We look forward to having an opportunity to report to the city council on our progress and a detailed expla~tion on the issues yet to be resolved. It is my understanding that the City Council meeting is scheduled for December 10~' 2002 so please notify us to confirm the receipt of this request and • the scheduling of such meeting. Sincerely y©urs, r Thomas A. Stokes • -14- • This Page Is Left Intentionally Blank •i C] -15-