2004-07-27PLEASE TURN OFF AT CELL PHONES & PAGERS IN COUNCIL CHAMBERS.
AGENDA
o
Open meeting
Action approving agenda, with any amendments
Action approving minutes: July 13, 2004
Representative from Westport Properties with Indian Knoll Manor
report, including any necessary action
Adjourn
Page
2-10
MOUND HOUSING AND REDEVELOPMENT AUTHORITY
JULY 13, 2004
The Mound Housing and Redevelopment Authority of and for the City of Mound,
Hennepin County, Minnesota, met in regular session on Tuesday, July 13, 2004, at 7:20
p.m. in the council chambers of city hall.
Members Present: Chairperson Pat Meisel; Commissioners Bob Brown, Mark Hanus,
David Osmek and Peter Meyer.
Others Present: Executive Director Kandis Hanson, City Clerk Bonnie Ritter,
Community Development Director Sarah Smith, Shery Therres, Gerald and Rita
Borseth, Tom Gray, Tammy Faiola, John Beise
1. Open Meetinq
Chair Pat Meisel called the meeting to order at 7:20 p.m.
2. Approve A.qenda
MOTION by Hanus, seconded by Brown to approve the agenda. All voted in favor.
Motion carried.
Commissioner Osmek arrived at 7:22 p.m.
3. Approve Minutes
MOTION by Brown, seconded by Hanus to approve the minutes of the June 22, 2004
meeting. All voted in favor. Motion carried.
4. Action authorizinq execution and delivery of three HRA Acknowledqment and
Reaffirmation Documents
MOTION by Brown, seconded by Hanus to approve execution and delivery of the
following agreements, as per City Attorney recommendation. All voted in favor. Motion
carried: (1) First Loan Modification Agreement between The Village by the Bay
Development, LLC and Associated Bank Minnesota, a National Association (Land
Development Loan); (2) Second Loan Modification Agreement between The Village By
the Bay Development, LLC and Associated Bank Minnesota, a National Association
(Townhome Construction Revolving Credit Loan); and (3) First Loan Modification
Agreement between the Village By the Bay Development, LLC and Associated Bank
Minnesota, a National Association (Condominium Construction Revolving Credit Loan)
5. Adjourn
MOTION by Hanus, seconded by Osmek to adjourn at 7:23 p.m. All voted in favor.
Motion carried.
Attest: Bonnie Ritter, City Clerk
Chairperson Pat Meisel
-2-
WELLS
Page I of 3
...... :r r ~'.:Sp E C Ii~l*. :;; Accou N.T; : .
If you have 'any q'Dest'ionb about this sta~t~ment or your accounts, call: 800-225-5935 (1-800-CALL-WELLS).
Your Accounts at a Glance
Beginning Deposits/
Type · ' . ', ../'- Balance Credits
Basic,,,,,,,,,,,,,,,.,,,,Business ch~C~i~g with:Interest . 37.535.50 16.193.90 - 21,065i26 'i"i? i'.' 32.664.14
NewS from Wells,Fargo
Basic Business Checking with Interest 000,0033530
Housing & RedevelOPment Authority
Special Account
May 31 ,Beginning Balance ' 37,535.50
Jun 30 Ending Balance 32,664.14
Deposits and Credits ......................................................................................................................
Date 'r ~' Transaction Detail
Jun 04 De ~osit '
Jun'04 De ~osit
Jun 04 De ;osit
Jun'04 De ~osit
Jun 04 De )osit
Jun 07 De )osit
Jun 07 De )osit
Jun 07 De )osit
Jun 07 De~)osit ~ ,
Jun 07 Deposit
Jun 14 Deposit
Jun 17 Hud Treas 303 Misc Pay 061704 410962421860103
RMT*VV*099052262 ........ hud Operating Fund MN0740
Jun 17 Deposit
Jun 30 'Interest Payment
Amount
~-- · .-- 3,180.00
2.997.00
.... 2,348.00
1,3 71~00
.... 181.00
682.00
...... 376.00
280.00
272.00
80.00 '
70.00
4,149100
206.50
1.40
Continued on next page
': Page 2 of 3
542 : :
HOusing & Redevelopment Authority .Account Number: 000-0033530
Special Account Statement End Date: 06/30/04
Checks Paid .......................................................................................................................................
Check # Date Amount Check # Date Amount
1570 Jun 04 141.49 1588 Jun 15 230.25
1573 Jun 01 3,804.49 1589 ......... Jun 17 .... 107.41
1574 Jun 02 59.68 1590 Jun 16 14.14
1575 Jun 03 148.50 1591 'Jun 17,. ~. 21.89
1576 · ~ Jun 02 103.00 1592 Jun 21 45.59
1578 * Jun 01 I, 167.18 1593 Jun 15 ' 399.39
1579 Jun 03 425.37 1595 * Jun 14 1,049.98
1580 Jun 01 47.52 1596 Jun 16 4,396.51
1581 Jun 01 169.27 1597 Jun 21 62.00
1582 Jun 02 21.06 1598 Jun 18 103.00
1583 Jun 01 94.85 1599 Jun 22 133.13
1584 Jun 02 97.92 1600 Jun 18 218.92
1585 Jun 01 81.87 1601 Jun 21 2,042.66
!586 Jun 01 414.01 1602 Jun 30 3,469.33
1587 Jun 11 850.00 1603 Jun 29 1,144.85
* Gap in Check Sequence
Daily Balance Summary ........................................................................................................................
Date Balance Date Balance
May 31 37,535.50 Jun 15 40, 066.67
Jun 01 31,756.31 Jun 16 35,656.02
Jun 02 31,474.65 Jun 17 39,882.22
Jun03. ' 30,900.78 Jun 18 , - ' 39,560.30
Jun 04 40,836.29 Jun 21 37,410.05
Jun 07 42,526.29 Jun 22 37,276.92
, 41,676.29 Jun 29 36,132.07
40,696.31 Jun 30 .. ............ ~: : 32,664.14
Average Collected Balance $ 37,867.80 .
Interest Summary ................................................................................................................................
Annual Percentage Yield Earned This Period 0.04%
Interest Earned During This Period 1.40
Year to Date Interest and Bonuses Paid 10.25
For Your Interest
IMPORTANT MESSAGE FOR CUSTOMERS WHO RECEIVE WIRE TRANSFERS: Effective August 16, 2004 any wire
transfer sent to~Wells Fargo must use the following Wire Routing Transit Number (RTN): 121000248. If you are
· currently receiving funds by wire transfer, this may be a change for the sender. Although the new RTN MUST be
used as of August 16, 2004, it may be used effective immediately. Therefore, to avoid delays, inform anyone sending
' rWi~,~;alt~'~your at
Wells. ~argo to begin using the following wire instructions now:
DIRECTs'TO:Wire Routing Transit Number 121000248
BANK NAME: Wells Fargo Bank, N.A,
CITY, STATE: San Francisco, CA (regardless of where your account is located)
BENEFICIARY ACCOUNT NUMBER (BNF): Your 10 digit We#s Fargo account number (If your number is less than 10
digits:in.length, use leading zeroes to convert the number to a lO-digit number)
BENEFICIARY ACCOUNT NAME: The name of your account as it appears on your statement
For wires sent from your Wells Fargo account and wire templates there is no change.-' - ·
Note: ~There is no change to the RTNs used for checks, deposits, or ACH (direct depositidebit) transactions. If you
have questions, contact your Wefts Fargo banker or call the customer service number printed on your statement.
Continued on next page
MBIA
Summary Statement
June 2004
For more information, call MBIA Asset Management at (800)395-5505
Fax: (800)765-7600
Mound Housing and Redevelopment Auth.
Account Number: MN-01-0258-2001 Account Name: GENERAL FUND
Beginning Contributions Withdrawals Income Average Daily Month End
Balance Earned Balance Balance
This Month $289,128.92 $0.00 $0.00 $195.64 $289,227.75 $289,324.56
Fiscal YTD
Ending 12/31/04 $278,231.50 $10,000.00 $0.00 $1,093.06 $286,079.88 $289,324.56
Account Number:. MN-01-0258-2002 Account Name: MOUND HUD
Beginning Contributions Withdrawals Income Average Daily Month End
Balance Earned Balance Balance
This Month $11,469.51 $0.00 $0.00 $7.74 $11,473.42 $11,477.25
Fiscal YTD
Ending 12/31/0z $11,433.37 $0.00 $0.00 $43.88 $11,455.26 $11,477.25
Total of all accounts
Beginning Contributions Withdrawals Income Average Daily Month End
Balance Earned Balance Balance
This Month $300,598.43 $0.00 $0.00 $203.38 $300,701.17 $300,801.81
Fiscal YTD
Ending $289,664.87 $10,000.00 $0.00 $1,136.94 $297,535.14 $300,801.81
June 2004
Page: 1
Mound. Housing
2020 Commer~o BoUlevard
Mound. MN 56364
Al OF
M-v 34, 2004
BALANGR SHEET
~ ~62~ - ~ Fund
121~ - P~ld
14~3 · DavMo~t ~st Con~
~4~o5 · ~t~
14~07 - 9uJldin~
14~09. Fumitum,~quip~t,M~i~.~d~n
14~16 - ~n~ Im~v~
t~55 - M~
t ~00 - ~d ~st Uncom~e Con~
TOTAL ,A~$ET8
SURPLUS AND LI~BILtTIE8
211400 · Tenan~ ~c'u,ty Dep~
2114~ - $~cud{y Dopoot! Interest
21~0. ~ Pay LaW Fund
213700 * Pi~ ~ U~ E T~es
213701 - PILOT Cu~tY~
28~ * HUD P~ ~U~
28~00- ~Min~ Eamin98
Cu~t Y~ Not ~v~
TOT,4U. 9URPLUS AND LIABILITIES
29,402.26
100O0
910 11
1 ~ ,433,37
1,733A4
1,505,~34,64
(2,04,2,760.551
(,1,603,937.~)
~ ,~2,970.53
31,~1,13
1 ~,~, 02
8,~.~
72,785,~3
~9,62e.oo)
{)3,72
(80,000.00)
(39t ,547.73)
(125,102.801
, (8.702,34)
Public Housin;I
2020 Commer¢® Boulevard
Mound, MN $5394
May 3't. 2GO&
Statement of O~riting Re~el~ & Ex~ndl~reu
3t ~OO0 -
312000 - Exoe~
Total Rental
351000- I nve~tJ'nent In~r~t/Oenaral Furldl
369000 - Other Incom~
802000 - Operating Subsidy
Total Other Operating ReGMpt~
Total Recilptl
Y'rD Over
Ctlrrlnt YTD prorated {;Under)
o.~.. (222.55)
' '~1o,511.~0) {80,833.24) (95,e73.211) 6,3~0.04
{e.3Q) (47.
(240.S0)
__ (4, ~ 49.oo_~ __.(33,1
(4,4ou6) (3o,o12.15)
613.21
EXl~lnsma
411000 * Administre[Ive Salary
411200 - Manager Payroll
4130~ - Legal Expen.e
414~ - S~ff Training
417~ - A~unflng F~
4171~ - A~16ng F~
419~ - Sund~,~mini~tattve
4t9~- ~tde M~egement
Tell ~mlnil~tive ~
422000 * Tenant
Total Tenant ~rYi~
431000- Water
432000'- EleOtn~ty
433000- Gas
43~000 - Other Utility Expense
439100 - Oarbmg. f~Bmoval
Totll UtJlttl~ Exleenae
440000 - Maintenance & Operation
441000 · MaintenanCe Labor
4.42000- Met~nets
443000- Contract
4.48000 - Protective Services
Total Maintenance Exl~ln~
0.00 2,159.80 0.00 2,15g,80
100,00 19,4t6,72 26,133.38 (6,718.64)
0,00 0,00 933.36 (933.3~)
900.00 (341
160.0(~ 258,60
2,363,36 (902,4~)
0,00 5,~,00 3,~6.~ ~ 2,273,~
.5~.oo 5 e~,o0 ~_ 6,~.o0 (e~,oo)
3,ew1,13 45,127,4e
0.00
0.00
o.o0 $oo.oo ($0o~oo)
0,00 ~00,00 (~O0,OO)
166.20 963,70 2,266,84 (I .312,94)
1,022,10 7,318.60 7,933.38 ($14.76)
1.$81.~9 21.769.6~ 9,606,64 ---, 12,~03.05
2,164.67 8,274.72 $,866,64 ~ 2,406.08
399.30 2_~7~0.31 ~ .... .(839.89)
41 077.03 :: 2~,333.25. __tt,745...7.4.
2,404.00 18,768.43 35,553.38 (16,784.93)
2,066.00 I0,616 92 0.00 .,,=P 10,~116,92
217.67 3,721.16 ~,000.00 (2,278.84)
(1,683,55) I0,880.11 6,66664 ""- 4,21347
0.00 35{h75 0,00 ~ 359,75
Mound. MN P~, Housln~l
2020 ¢ommeroe Boulevard
Mound. MN 55364
AoOf
Mav 31, 2004
Statement of Operating Receipl~ & Expenditures
451000- Insurance
452000 - lamta In Lieu Of Taxes
454000 - Employee Benefit Contributior'~
T=tel General Expenll
001000. Prior Year A~ljuttl~eflts-Cash
Ta~el Nonroutlrte EXla4nee
Total Expenee
Y'rD Over
Curre~ YTD Prorated (Under)
7ee.22 8,887,4t
.,1 ~116,50 6,857.66 e,420.0~ -- 437,~6
't4,380.9'!_ 148~8,73 147r473,$'~ /'95,37
o.o0 (~_2.0~) _ 0.~ ~, (632
o,oo --- (~$2,0~_) o,,oO ,, ~$2.0e)
-8-
v~NDOK
~ p~IOD OF JUNE 2004
80URC~ 61 ~ 62 Jul}' 6, 2004
C~CK cHECK CK{CK
~ WESTPORT PROPP/~TIEB 1NC 1557 06/01/2004 850.00 0,00 0.00
]4 HO~ DE~OTC~-EDIT SER¥ 1585 06/O~/]OOA 230,~5 o.00 O.O0
52 ~TA2L SERVI~/~8 15~0 0~/07/2004 1~,~4 0,00 0.00
107 Tho L~r 159~ 06/07/~004 21,89 0,00 0.00
11~ AT a T W~reless 1592 06/07/2004 (5,~9 0.00 0.00
9~ a~ WA~ ~C~S 159~ 06/07/2004 399.~9 0,OO O.00
llD Crima Fr~= ~8eocia=~on 1~9% 06/09/2004 380.00 O,00 O.00
~o XC~L~RGY 1~9~ 06/07/2004 10%9,9~ O,OO O.O0
7 ~aT ~oP~TIES ~OLL 1596 06/14/2004 4~96,51 0.00 0,0O
101 C N~ ~ ~OCIATES I~9~
9A IOS ~I~ 1~99 06/14/200A
3 ~0~ ~AG~ COR~ 1600
98 All ~a8oD~ ~s=a~ ~ Desi~ ~01 0'6/04/2004 20~2.66 0,00 o.oo
7 W~ST~KT PROP~TIES ~AYROLL 1602 0~/28/2004
100 ~IER 160% 06/2~/2004 457.6~ O,O0 0.00
10~ IKON OFFI~ ~OL~IONS 160~ 06/28/2004 &~,52 0.00 0.OD
~9 MI~OTA E~TOR [NC 1606 06/25/~00* 1~9.2~ 0.~0 O,00
~ 115 ~ Dop= of ~ & ID~US~ 1607 06/28/2004 30.00 O,00 0.00
'J ~02 MO~ TR~ V~ ~ 1608 06/~$/2004 78,0~ 0.OO O,00
1609 06/~8/200~ 94,20 0,00 O.00
la6 ~a~ W~L~ ..................
ToTSJ~S
SYSTEM
LE~S VOIDS
TOTAL SYaTEH CH~CK~
15545,75
0.00
15545.95
M/kNUAL C".**~CK.~ 0.00
!,~GG VOIDS
TOTAL MANUAL Ch~CK~ 0.00
TOTAL CA~ DI~]~
.~', . MANUAL C~C~ PAID WI~ MI~LTIPL~ 2NVOIC_ES
HRA MINUTES- REGULAR MEETING -JULY 15TM, 2004
To: Mound HRA
Westport Properties
From: Resident Counsel
PURSUANT TO OUR CONSTITUTION ANS BY-LAWS, ELECTION OF OFFICERS
WAS HELD ON MONDAY, JULY 12, 2004. THE FOLLOWING MEMBERS W'ILL
SERVE IN THE OFFICE INDICATED FOR ONE-YAR TERMS:
President:
Vice-President:
Secretary:
Treasurer:
At-Larger (floater):
Linda Brown
Muriel Strand
Patrick Ryan.
Gordon (Doon) Stevens
Jane Jamig
TERM OF OFFICE FROM JULY, 2004- JUNE, 2005.
Linda Brown, President