HomeMy WebLinkAbout[04] Accounts Payable & Financial Report.Jn .CITY OF ST. JOSEPH
wvv. cityofstjoseph.com
DATE: June 16, 2010
MEMO TO: St. Joseph Economic Development Authority
1. Monthly Report.
2. Balance Sheet.
3. EDA revenue to date.
4. EDA expenditures to date.
5. CIP fund report.
A MOTION is in order to approve the Financial Reports.
C. TIF Reports:
2010 TIF Reports are being completed and a summary should be made available for the
meeting.
A MOTION is in order to recommend approval of submission of the TIF Reports to the city
Council.
FROM: Cynthia Smith- Strack, Municipal Development Group
Administrator
Judy Weyrens
RE: Accounts Payable — June
May Financial Reports
Mayor
Al Rassier
A. Accounts Payable:
Councilors
Following are Accounts Payable for the EDA's Consideration.
Steve Frank
Bob Loso
Payable To For Fund Amount
Renee Symanietz
MDG, Inc. May Econ. Dev. Service 150 - 46500 -300 $ 2,574.00
Dale Wick
Total $ 2,574.00
EDA
Carolyn Yaggie-
Action:
Heinen
A MOTION is in order to approve the Accounts Payable.
Ken Jacobson
Al Rassier
Tom Skahen
B. Financial Report:
Dale Wick
May financial reports are attached for your consideration.
The reports consist of:
1. Monthly Report.
2. Balance Sheet.
3. EDA revenue to date.
4. EDA expenditures to date.
5. CIP fund report.
A MOTION is in order to approve the Financial Reports.
C. TIF Reports:
2010 TIF Reports are being completed and a summary should be made available for the
meeting.
A MOTION is in order to recommend approval of submission of the TIF Reports to the city
Council.
4916VA
MUNICIPAL DEVELOPMENT GROUP, INC.
25562 WILLOW LANE
NEW PRAGUE, MN 56071
952 - 758 -7399
FAX: 952 - 758 -3711
staff Cbmunicipaidevelopmentgroup.com
INVOICE
City of St. Joseph
Attn: Judy Weyrens
City Administrator
PO 668
St. Joseph, MN 56374
Invoice Date 06 -10 -10
Payment Terms: 30 days
Customer ID #:
STJ10ED
Project May Economic Development Services
See attached detail
Amount: $2,200.00 Monthly contract fee
374.00 748 miles x .50
$2,574.00
Code to: 150 -46500 -300 for general EDA
Remit To: Municipal Development Group, Inc.
25562 Willow Lane
New Prague, MN 56071
Dates -EDA
Hours
May 5, 2010 EDA Office Hours: C. Strack
8.00 Hour
May 12, 2010 EDA Office Hours: C. Strack
7.00 Hour
May 19, 2010 EDA Office Hours: C. Strack
8.50 Hour
May 26, 2010 EDA Office Hours: C. Strack
6.50 Hour
Total May, 2010
30.50 Hours
Total Contract Hours May 31, 2010: 30.50 Hours
Thank you! We appreciated the opportunity to work with you!
Check No.
Date: Principal
St. Joseph Economic Development Authority
Summary Treasurer's Report - Fund 150
May 2010
Fund 150, EDA Balance as of December 31, 2009 (audited) 3,627.31
Year to Date Revenue:
Interest Earnings (118.15)
Transfers from the General Fund 21,005.00
Total Revenue 20,886.85
Year to Date Expenditure Total by Proiect:
Market Development
439.94
**
Business Development
7,981.91
**
Organizational Development
3,143.43
**
Infrastructure Development
200.15
**
Workforce Development
-
**
11,765.43
Year to Date Expenditures by Object:
Board Stipends
-
Staff Salaries
-
Office Supplies
(84.28)
Software Support
(50.38)
Municipal Development Group
(9,324.84)
Legal Fees
-
Telephone
(279.47)
Postage
(255.60)
Advertising
-
Business Luncheon
(209.47)
Recording Fee
-
Workers Comp Premium
-
Rentals (Postage Machine)
(15.00)
St. Cloud EDA Membership Dues
(8,000.00)
EDA Programs
(2,123.76)
Total Expenses
(20,342.80)
Fund Summaries as of December 31, 2009:
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CITY OF ST JOSEPH
EDA Expenditure Report
Current Period: May 2010
06/03/10 1:48 PM
Page 1
2010
May
2010
Account Descr
YTD Budget
2010 Amt
YTD Amt
FUND 150 Economic Development
E 150 - 46500 -101 Salaries
$0.00
$0.00
$0.00
E 150 - 46500 -103 Legislative Bodies
$1,390.00
$0.00
$0.00
E 150 - 46500 -121 PERA Contributions
$0.00
$0.00
$0.00
E 150 - 46500 -122 FICA Contributions
$0.00
$0.00
$0.00
E 150 - 46500 -123 Deferred Comp - Employer
$0.00
$0.00
$0.00
E 150 - 46500 -125 Medicare Contributions
$0.00
$0.00
$0.00
E 150 - 46500 -130 Health Ins - Deductible
$0.00
$0.00
$0.00
E 150 - 46500 -131 Health Insurance
$0.00
$0.00
$0.00
E 150 - 46500 -132 Dental Insurance
$0.00
$0.00
$0.00
E 150 - 46500 -133 Life Insurance
$0.00
$0.00
$0.00
E 150 - 46500 -134 Disabilty Insurance
$0.00
$0.00
$0.00
E 150 - 46500 -136 Fringe Benefits- Employee
$0.00
$0.00
$0.00
E 150 - 46500 -151 Workers Comp. Insur. Prem.
$150.00
$0.00
$0.00
E 150 -46500 -200 Office Supplies
$500.00
$37.57
$84.28
E 150 -46500 -215 software support
$0.00
$0.00
$50.38
E 150 -46500 -300 Professional Services
$28,000.00
$2,132.19
$9,324.84
E 150 - 46500 -303 Engineering Fee
$2,000.00
$0.00
$0.00
E 150 - 46500 -304 Legal Fees
$1,000.00
$0.00
$0.00
E 150 -46500 -321 Telephone
$1,200.00
$50.72
$279.47
E 150 -46500 -322 Postage
$350.00
$255.60
$255.60
E 150 -46500 -331 Travel & Conference Expense
$150.00
$67.11
$209.47
E 150 -46500 -340 Advertising
$500.00
$0.00
$0.00
E 150 - 46500 -410 Rentals
$0.00
$0.00
$15.00
E 150 -46500 -433 Dues & Subscriptions
$8,000.00
$0.00
$8,000.00
E 150 -46500 -434 Certification Fee
$0.00
$0.00
$0.00
E 150 -46500 -582 Computer Software
$300.00
$0.00
$0.00
E 150 -46500 -588 EDA Programs
$20,000.00
$1,451.91
$2,123.76
FUND 150 Economic Development
$63,540.00
$3,995.10
$20,342.80
FUND 156 TIF 1-4 St. Joe Development
E 156-46500-101 Salaries
$0.00
$0.00
$0.00
E 156-46500-121 PERA Contributions
$0.00
$0.00
$0.00
E 156 -46500 -122 FICA Contributions
$0.00
$0.00
$0.00
E 156 -46500 -123 Deferred Comp - Employer
$0.00
$0.00
$0.00
E 156 -46500 -125 Medicare Contributions
$0.00
$0.00
$0.00
E 156 -46500 -130 Health Ins - Deductible
$0.00
$0.00
$0.00
E 156 -46500 -131 Health Insurance
$0.00
$0.00
$0.00
E 156 -46500 -133 Life Insurance
$0.00
$0.00
$0.00
E 156 -46500 -134 Disabilty Insurance
$0.00
$0.00
$0.00
E 156 -46500 -136 Fringe Benefits- Employee
$0.00
$0.00
$0.00
E 156 -46500 -300 Professional Services
$0.00
$0.00
$0.00
E 156 -46500 -340 Advertising
$0.00
$0.00
$0.00
E 156 - 46500 -622 Tax Increment Payments
$0.00
$0.00
$0.00
FUND 156 TIF 1-4 St. Joe Development
$0.00
$0.00
$0.00
FUND 157 TIF 2 -1 Millstream
E 157- 46500 -101 Salaries
$0.00
$0.00
$0.00
E 157 -46500 -121 PERA Contributions
$0.00
$0.00
$0.00
E 157- 46500 -122 FICA Contributions
$0.00
$0.00
$0.00
E 157 - 46500 -123 Deferred Comp - Employer
$0.00
$0.00
$0.00
E 157 - 46500 -125 Medicare Contributions
$0.00
$0.00
$0.00
E 157 - 46500 -130 Health Ins - Deductible
$0.00
$0.00
$0.00
E 157 - 46500 -131 Health Insurance
$0.00
$0.00
$0.00
E 157 -46500 -133 Life Insurance
$0.00
$0.00
$0.00
E 157 - 46500 -134 Disabilty Insurance
$0.00
$0.00
$0.00
E 157 -46500 -136 Fringe Benefits- Employee
$0.00
$0.00
$0.00
E 157 - 46500 -300 Professional Services
$0.00
$0.00
$0.00
06/03/10 1:48 PM
Page 1
r' CITY OF ST JOSEPH 06/03/10 1:48 PM
Page 2
EDA Expenditure Report
Current Period: May 2010
FUND 250 Revolving Loan Fund
E 250 -46500 -300
2010
May
2010
Account Descr
YTD Budget
2010 Amt
YTD Amt
E 157 -46500 -317 Other fees
$0.00
$0.00
$0.00
E 157 -46500 -331 Travel & Conference Expense
$0.00
$0.00
$0.00
E 157 - 46500 -340 Advertising
$0.00
$0.00
$0.00
E 157 -46500 -622 Tax Increment Payments
$0.00
$0.00
$0.00
E 157- 49300 -720 Transfers to Other Funds
$0.00
$0.00
$0.00
FUND 157 TIF 2 -1 Millstream
$0.00
$0.00
$0.00
FUND 250 Revolving Loan Fund
E 250 -46500 -300
Professional Services
$0.00
$0.00
$0.00
E 250 -46500 -304
Legal Fees
$0.00
$0.00
$0.00
E 250 -46500 -317
Other fees
$0.00
$0.00
$0.00
E 250 - 46500 -434
Certification Fee
$0.00
$0.00
$0.00
E 250 - 46500 -455
Revolving Loan Proceeds
$0.00
$0.00
$0.00
FUND 250 Revolving Loan Fund
$0.00
$0.00
$0.00
$63,540.00 $3,995.10 $20,342.80
rt CITY OF ST JOSEPH 06/03/10 1:48 PM
/ Page 1
Ul EDA Revenue Report
Current Period: May 2010
FUND Descr
SOURCE
SOURCE Descr
FUND 150 Economic Development
2010 Amt
YTD Amt
Economic Development
34150
TIF /MIF Deposit
Economic Development
36210
Interest Earnings
Economic Development
39201
Transfers from Other Funds
FUND 150 Economic Development
- $118.15
FUND 156 TIF 1 -4 St. Joe Development
TIF 1 -4 St. Joe Development
31050
Tax Increment
TIF 1 -4 St. Joe Development
36210
Interest Earnings
FUND 156 TIF 1-4 St. Joe Development
FUND 157 TIF 2 -1 Millstream
$0.00
TIF 2 -1 Millstream
31050
Tax Increment
TIF 2 -1 Millstream
34150
TIF /MIF Deposit
TIF 2 -1 Millstream
36210
Interest Earnings
FUND 157 TIF 2 -1 Millstream
$0.00
FUND 250 Revolving Loan Fund
$50.35
Revolving Loan Fund
36210
Interest Earnings
Revolving Loan Fund
39320
Revolving Loan Principal
Revolving Loan Fund
39321
Revolving Loan Interest
Revolving Loan Fund
39322
Revolving Loan Origination
FUND 250 Revolving Loan Fund
$0.00
2010
May
2010
YTD Budget
2010 Amt
YTD Amt
$0.00
$0.00
$0.00
$500.00
$16.22
- $118.15
$42,010.00
$0.00
$21,005.00
$42,510.00
$16.22
$20,886.85
$0.00
$0.00
$0.00
$0.00
$50.35
$25.73
$0.00
$50.35
$25.73
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.67
-$7.49
$0.00
$0.67
-$7.49
$0.00
$45.61
- $28.72
$0.00
$272.71
$1,356.76
$0.00
$57.29
$293.24
$0.00
$0.00
$0.00
$0.00
$375.61
$1,621.28
$42,510.00
$442.85
$22,526.37
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i ax increment t-i'nancing uistrict Keport I
For The Year Ended December 31, 2009
TIF 1 -3 Borgert Prod
89
Tax Increment Financing District Name
County Number(s)
Saint Joseph
Saint Joseph
TIF Authority
Municipality That Approved TIF District
Steams
Saint Joseph
County Where TIF District is Located
City/Town Where TIF District Is Located
Judy Weyrens
Administrator
(320) 363 -7201
TIF Authoritys Authorized Representative
Title
Phone Number
City of St. Joseph
(320) 363-0342
Employer of Authorized Representative (if different from TIF authority)
Fax Number
PO Box 668
jweyrens @cityofstjoseph.com
Address
E -mail Address
St Joseph
MN 56374
City
State Zip Code
1. TIF District type:
O Pre-1979 0 Redevelopment
O Housing Economic Developmment
O Uncodified Law, (Specify)
2. Is this a "Qualified Housing District' as defined in MN Stat. 469.174, subd. 29(2003)?
3. TIF -plan approval date(s):
A. Original .................................................................. ...............................
B. Modification date(s): ................................................................................
4. Certification request date(s):
O Renewal and Renovation
O Soils Condition
A. Original ..................................................................... ............................... .
B. Geographic enlargement date(s): ....................................................................
C. Hazardous substance subdistrict date(s): .........................................................
5. Certification date(s):
A. Original ...................................................................... ...............................
B. Geographic enlargement date(s): ....................................................................
O Yes * Nc
09
D Not Appri able
a.
03/3111M
J
a.
Q Not Appllcable
a.
06/22/1999
Not Appllcable
a.
C. Hazardous substance subdistrict date(s): ...........................................................
L".t+ Apoloble
a.
6. Month and year first tax increment payment received (actual or anticipated): 7 / 2000
A. If an election to delay the first receipt of tax increment has been made under ❑ Not Appllcable
MN Statute 469.175 subd. 1(b) and is identified in the TIF Plan, please
select the number of years to delay. Years:
7. Date of required decertification: ..................................................................................... 09/22/2009
7a. Duration of the district is based on: ................................................... Statutory Maximum Duration
8. Actual decertification date: .......................... ............................... ❑ Not AppliTble 06/04/2009
Tax Capacity for Taxes Payable in 2009
Nat Applicable
Accounted or
in Prior Years
❑ DWxtd is EXEMPT
18. For activities and improvements outside TIF district
Value
9. Current net tax capacity +
10. Original net tax capacity -
11. Captured net tax capacity =
$ 0
12. Fiscal disparity deduction, if applicable -
13. Captured net tax capacity shared with other taxing jurisdictions -
Accounted or
in Prior Years
14. Captured net tax capacity retained by TIF authority =
$ 0
15. Is this TIF district located in a fiscal disparities area and is it under option A? •
16. If yes, indicate the amount of total tax increase from the Commissioner of Revenue
Fiscal Disparities Contribution Statement .... ............................... $ LO Not Appltcable
17. Has the municipality created a special taxing district for this TIF district? . ............................... •
Tax Increment Expenditures Outside the TIF District
0 NotAppikable
Accounted or
in Prior Years
Amount
18. For activities and improvements outside TIF district
$ 0
$ 0
Transfers
I ❑ Not Appllcabie
Tax Increment Expenditures Outside the TIF District
Accounted or
in Prior Years
Amount
19. From other TIF districts
" ^ ,,,, , F r moro rows to enter more krb mmition, ou to last row and PM
A.
20. From other funds
:;. Far mss rows b enter moro trGOnnerion, po b last row and press
both CM and u keys ."'r
A.
21. Total Transfers In (to line 36)
$ 0 $ 0
Transfers Out - To Other TIF Districts or Funds
22. To other TIF districts
ft`tore rows banter more intomration, go to IMrow:ind.prses
both (WI andviews, I
A.
23. Tax increment to other funds
F 4ndnwws to enter more kdomortion, go b Last raw and press
both tart and m keys:
A. Reimburse General Fund for TIF1 -3 Admin Expenses
$ 5,948
2
B.
24. Non -tax increment to other funds
f orpxx9 rows b ~ more Wdoffneb , go to last row and press
both Ctrl and a keys
A.
25. Total Transfers Out (to line 52)
1 $ 5,948
$ 0
Authority: Saint Joseph District: TIF 1 -3 Borgert Prod Page 2
OPERATING STATEMENT
Revenues and Other
Financing Sources (OFSs)
Original TIF -Plan
Budget Amount
Cumulative Modified
TIF -Plan Budget
Accounted for in
Prior Years
2009 Amount
WARNING:
26. Tax increment revenue
$
317,883 $
0
$
172,314
page.
27. Market Value Homestead Credit
$
0
$ 0
28. Investment earnings
$
0
$
0
$
365
29. Bond proceeds
$
0
$
0
$
0
30. Loan proceeds
$
0
$
0
$
0
31. Special assessments
$
0
$
0
$
0
32. Sales/lease proceeds
$
0
$
0
$
0
33. Loan /advance repayments
$
0
$
0
$
0
34. Grants
$
0
$
0
$
0
35. Other (describe)
For more rows
erMer moos kYorrnation
go p hst row and press bolh Ctrl and
u keys
A. Deferred TIF revenue received
$
0
$
0
$
2,207
B. Miscellaneous*
$
31,788
$
0
$
0
C.
36. Transfers in (from line 21)
$
0
$
0
$
0
$ 0
37. Total Revenues and OFSs
Expenditures and
Other Financing Uses OFUs
38. Land /building acquisition
$
$
349,671
206,991
$
$
0
0
$
$
174,886
95,438
$ 0
39. Site improvements/
preparation costs
$
0
$
0
$
0
40. Installation of public utilities
$
0
$
0
$
0
41. Parking facilities
$
0
$
0
$
0
42. Streets and sidewalks
$
0
$
0
$
0
43. Public park facilities
$
0
$
0
$
0
44. Social, recreation, or
conference facilities
$
0
$
0
$
0
45. Interest reduction payments
$
0
$
0
$
0
46. Bond principal payments
$
0
$
0
$
0
47. Bond interest payments
$
0
$
0
$
0
48. Loan principal payments
$
0
$
0
$
0
49. Loan /note interest payments
$
110,892
$
0
$
59,564
50. Administrative expenses
$
31,788
$
0
$
3,145
51. Other (describe)
f Wmore rows
eater more Wtormatieon,
yo to lest row and presslp m ck1 and
u keys.
A. Adjustment -audit 04 needed
$
0
$
0
$
10,791
B.
52. Transfers out (from line 25)
$
0
$
0
$
5,948
$ 0
53 Total Expenditures and OFUs
$
349,671
$
0
$
174,886
$ 0
54. Revenues and OFSs Over (Under)
Expenditures and OFUs
55. Fund Balance - 12131108
56. Fund Balance - 12/31/09
$
0
$
0
$
0
$ 0
$ 0
$ 0
Authority: Saint Joseph District: TIF 1 -3 Borgert Prod Page 3
BALANCE SHEET
10 NotAppHcable
I p Nat A e
❑ NotAppllcable
Assets
On or After 7/2/97
s of
12/31/08
$ 0
As o
12/31/09
57. Cash
$
0
Revenue
69. Issue amounts
58. Due from other funds
0
$
0
$
59. Other assets (specify)
For more routs o eraer more Information, po to lest row and press
70. Principal paid in 2009
$
0
$
0
$
both Cbi and u /Days.
71. Principal issued in 2009
A. Tax increment receivable
$
38,772
$
0
B. Interest Receivable
$
0
0
$
C.
$
0
73. Outstanding 12/31/09
$
60. Total Assets
$
38,772
$
0
Liabilities
$
0
$
0
$
0
75. Interest due in 2010
61. Due to other funds
0
1 $
0
$
62. Other liabilities (specify)
For more rows to erMar more htormabon. go to Isst row and proaa
u
; .
A. Pay-as-you-go contract
$
38,772
$
0
B.
63. Total Liabilities
$
38,772
$
0
64. Fund Balance
$
0
$
0
65. Total Liabilities and Fund Balance
1 $
38,772
$
0
Investment Earnings
10 NotAppHcable
I p Nat A e
❑ NotAppllcable
On or Before 7/1/97
On or After 7/2/97
66. Investment earnings
$ 0
$ 365
Property Sales /Leases and Advance /Loan Repayments
I p Nat A e
❑ NotAppllcable
On or Before 6/30/97
On or After 7/1/97
67. Proceeds from sale or lease of property
$ 0
$ 0
68. Repayment of advances and loans (exclude interest)
$ 0
$ 0
Non - Pooled TIF Bonds and Other Financial Obligations
❑ NotAppllcable
TIF Bonds
Other
Financial Obligations
General Obligations
Revenue
69. Issue amounts
$
0
$
0
$
145,000
70. Principal paid in 2009
$
0
$
0
$
0
71. Principal issued in 2009
$
0
$
0
$
0
72. Interest paid in 2009
$
0
$
0
$
0
73. Outstanding 12/31/09
$
0
$
0
$
0
74. Principal due in 2010 1
$
0
$
0
$
0
75. Interest due in 2010
1 $
0
1 $
0
$
0
Authority: Saint Joseph District: TIF 1 -3 Borgert Prod Page 4
76. Amount of tax increment held dedicated to the payment of non - pooled TIF bonds. $ 0 r-1 WA
77. Is amount on line 76 held in an escrow account? .... ..............................P ts R `Nd OKA
78. If refunding bonds have been issued, indicate the year(s) and amount(s) of the refunding issue(s): 0 N/A
For mm MO. toter rrwne irdorrn� don, ll� to Md tow and preen both Ctrl and u keys.
Year Amount
79. If pay -as- you -go financing is being used, report the amount of documented
developer costs incurred through December 31, 2009. $ 145,000 ❑ N/A
80. If property owners have received reimbursement of special assessments,
report the amount reimbursed through December 31, 2009.
81. Please list the estimate, if any, contained in the TIF plan of the amount of
the cost of the project, including administrative expenses, that will be paid
or financed with tax increment. Any TIF plan or amendment approved after $ 317,833 ❑ N/A
June 30, 2003 must contain this estimate.
82. If the TIF district has special legislation, specify the year, chapter, article, and section of the law.
For more rows toads more hifoi nna n, po to hw row and press cytiot' CM and u keys.
Year Chapter Article Section
83. Indicate whether the authority has worked with the county auditor to correct an error qualifying
under Minn. Stat. § 469.177, subd. 13 for this district. This includes errors in the certification or Q Y. No
decertification of TIF districts, as well as other errors related to the computation of increment.
C
r-iease enter any comment you wouia ime io snare with us below. maximum zoo crtaracters eacn
TIF decertified on June 4, 2009. Decertification form was received by the Office of the State Auditor. There was a $0
balance as of 12/31/08; therefore, no activity to report for 2009.
The transfer reported in the 12131/08 TIF report was reported in the 12/31109 audited financial statements for the city.
Not reported again on the TIF reports for 12/31/09.
Authority: Saint Joseph District: TIF 1 -3 Borgert Prod Page 5
Name of TIF Authority:
Name of Municipality:
2009 ANNUAL DISCLOSURE STATEMENT
Saint Joseph
Saint Joseph
The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2009.
St. Joseph Newsleader 7/16/2010
(Name of the Newspaper) on (Date of Publication)
(All lines within the table must be published even it the amounts to be published are zero.)
" The fiscal disparities property tax law provides that the growth in commercial- industrial property tax values is shared
throughout the area. In a tax increment financing district, this value sharing can either result in a tax increase for other
properties in the municipality or result in a decrease in tax increment financing district revenue depending on how the
tax increment financing district is established.
Tax Increment Financing District TIF 1 -3 Borgert Prod (name)
does not share its growth in commercial- industrial property tax values. This results in an increase
in property taxes for other properties in this municipality. For taxes payable in 2009, this increase
in taxes on other properties amounted to $ .
(This paragraph needs to be published for each district for which it applies. Please attach additional pages, if needed.)
Additional information regarding each district may be obtained from: (Required to be published)
Judy Weyrens
Name of TIF Representative
PO Box 668, St Joseph, MN 56374 (320) 363 -7201
Address (Street, City, Zip) Phone
Note to preparer. Publishing the last line of the table and the two paragraphs following the table is necessary only if a
TIF district in the municipality is located in the fiscal disparities area and the municipality chose option A" under Minn.
Stat. 469.177, subd. 3(a), for the TIF district.
Name of TIF District
TIF 1 -3 Borgert Prod
Current net tax capacity
$
0
Original net tax capacity
$
0
Captured net tax capacity
$
0
Principal and interest payments due in
2010
$
0
Tax increment received in 2009
$
0
Tax increment expended in 2009
$
0
Month and year of first tax increment
receipt
7/2000
Date of required decertification
09/22/2009
Increased property tax imposed on other
properties as a result of fiscal disparities
contribution"
1 $
0
(All lines within the table must be published even it the amounts to be published are zero.)
" The fiscal disparities property tax law provides that the growth in commercial- industrial property tax values is shared
throughout the area. In a tax increment financing district, this value sharing can either result in a tax increase for other
properties in the municipality or result in a decrease in tax increment financing district revenue depending on how the
tax increment financing district is established.
Tax Increment Financing District TIF 1 -3 Borgert Prod (name)
does not share its growth in commercial- industrial property tax values. This results in an increase
in property taxes for other properties in this municipality. For taxes payable in 2009, this increase
in taxes on other properties amounted to $ .
(This paragraph needs to be published for each district for which it applies. Please attach additional pages, if needed.)
Additional information regarding each district may be obtained from: (Required to be published)
Judy Weyrens
Name of TIF Representative
PO Box 668, St Joseph, MN 56374 (320) 363 -7201
Address (Street, City, Zip) Phone
Note to preparer. Publishing the last line of the table and the two paragraphs following the table is necessary only if a
TIF district in the municipality is located in the fiscal disparities area and the municipality chose option A" under Minn.
Stat. 469.177, subd. 3(a), for the TIF district.
Excess Increment Calculation Report
For The Year Ended December 31, 2009
TIF 1 -3 Borgert Prod
Tax Increment Financing District Name
89
County Numbers)
Saint Joseph
Saint Joseph
Value
TIF Authority
Municipality That Approved TIF District
$ 172,679
Steams
Saint Joseph
$ 0
County Where TIF District is Located
City/Town Where TIF District Is Located
$ 172,679
Judy Weyrens
Administrator
(320) 363 -7201
TIF Authority's Authorized Representative
Title
Phone Number
City of St. Joseph
+
(320) 363 -0342
Employer of Authorized Representative (if different from TIF authority)
Fax Number
PO Box 668
jweyrens @cityofstjoseph.com
=
Address
E -mail Address
St
MN
56374
Zip Code
Please note the excess increment statute was amended during the 2005 Legislative Session. There were
three significant changes.
- Nine -month time limit. The Legislature introduced a nine -month time limit in which excess increment
must be spent or returned to the county for redistribution.
- Transfers for gpfigA pooling. The Legislature included transfers made to eliminate deficits in other
districts as part of the excess increment calculation. These transfers are authorized expenditures under
the TIF Act and should be taken into account when calculating excess increment.
- Excess increment applies to Pre -1979 TIF Districts. The Legislature established speck rules regarding
pre -1979 TIF districts. The excess increment statute states that "excess increments equal the amount of
increments on hand on December 31, less the principal and interest obligations due on outstanding
bonds or advances, qualifying under subdivision 1c, clauses (1), (2), and (5), after December 31 of the
year and not prepaid under paragraph (c)." In other words, if no outstanding obligations exist as of
December 31, any tax increment that remains is excess increment.'
Formula
Value
1. Total tax increment received
$ 172,679
2. Excess increments repaid in prior years
-
$ 0
3. Subtract line 2 from line 1
=
$ 172,679
4. Total costs authorized to be paid with tax increment
$ 349,671
5. Total authorized costs paid from other sources
6. Total non -TIF funds dedicated to pay authorized costs
+
7. Total bond principal and interest outstanding
+
$ 0
8. Add lines 5 through 7
=
$ 0
9. Amount from line 4
$ 349,671
10. Amount from line 8
-
$ 0
11. Total transfers of increment to reduce deficits made by 12/31/2009
+
12. Subtract line 10 from line 9 and add 11 (If negative number, show -0 -)
_
$ 349,671
13. Amount from line 3
$ 172,679
14. Amount from line 12
-
$ 349,671
15. Subtract line 14 from line 13 (If negative, show 0) Excess Tax Increment
=
$ 0
16. Amount of excess increment used to prepay outstanding bonds
17. Amount of excess increment paid into escrow dedicated to
payment of outstanding bonds
+
18. Amount of excess increment returned to the county
+
19. Add lines 16 through 18
1 $ 0
I Tax Increment Financing District Report I
For The Year Ended December 31, 2009
TIF 1-4 St Joe Development, LLC
110
Tax Increment Financing District Name
County Number(s)
Saint Joseph
Saint Joseph
TIF Authority
Municipality That Approved TIF District
Steams
Saint Joseph
County Where TIF District is Located
City/Town Where TIF District Is Located
Judy Weyrens
Administrator
(320) 363 -7201
TIF Authority's Authorized Representative
Title
Phone Number
City of St. Joseph
(320) 363 -0342
Employer of Authorized Representative (if different from TIF authority)
Fax Number
PO Box 668
jweyrens @cityofstjoseph.com
Address
E -mail Address
St Joseph
MN 56374
City
State Zip Code
1. TIF District type:
0 Pre-1979 0 Redevelopment 0 Renewal and Renovation
0 Housing 0 Economic Developmment 0 Soils Condition
0 Uncodified Law, (Specify)
2. Is this a "Qualified Housing District" as defined in MN Stat. 469.174, subd. 29(2003)?
3. TIF -plan approval date(s):
A. Original ................................................................... ...............................
B. Modification date(s): ................................................................................
4. Certification request date(s):
A. Original ............................................................. ...............................
B. Geographic enlargement date(s): .................................... .....................
C. Hazardous substance subdistrict date(s): ................................................
5. Certification date(s):
A. Original .............................................................. ...............................
B. Geographic enlargement date(s): ...........................................................
C. Hazardous substance subdistrict date( s) :.................. ...............................
6. Month and year first tax increment payment received (actual or anticipated):
A. If an election to delay the first receipt of tax increment has been made under
MN Statute 469.175 subd. 1(b) and is identified in the TIF Plan, please
select the number of years to delay.
7. Date of required decertification: ..................................................
7a. Duration of the district is based on: .............................................
8. Actual decertification date:.....
JOY. @) No
06/27/2002
❑ NotAWkable
a. 07/18/2002
b.
07/31/2002
El Not ApOadile :
a.
Q Nat AM HI*
I*
a.
09/09/2003
amatJ WkIble
a.
a.
5 / 2004
Not Applicable
Years: =
......................... 12/31/2012
Statutory Maximum Duration
Tax Capacity for Taxes Payable in 2009
I NotApplkable
❑ Nut Applicable
Accounted or
in Prior Years
❑ District Is DxE MPT-
18. For activities and improvements outside TIF district
$ 0
$ 0
Value
9. Current net tax capacity
+
$
62,012
10. Original net tax capacity
-
$
1,830
11. Captured net tax capacity
=
$
60,182
12. Fiscal disparity deduction, if applicable
-
$
0
13. Captured net tax capacity shared with other taxing jurisdictions
-
$
0
14. Captured net tax capacity retained by TIF authority
=
$
60,182
15. Is this TIF district located in a fiscal disparities area and is it under option A? • NO kJ MA
16. If yes, indicate the amount of total tax increase from the Commissioner of Revenue
Fiscal Disparities Contribution Statement .... ............................... $ Not Applicable
17. Has the municipality created a special taxing district for this TIF district? . ............................... •
Tax Increment Expenditures Outside the TIF District
I NotApplkable
Accounted or
in Prior Years
Amount
18. For activities and improvements outside TIF district
$ 0
$ 0
Transfers I fl Not Appli®tile
Tax Increment Expenditures Outside the TIF District
Accounted or
in Prior Years Amount
19. From other TIF districts
For nwm rows to erdsr rrwro inbrtnatlaL gob last row:and pross a u
A.
20. From other funds
tows ro ~ nxxv h1orrnsdon, go to tntaow and press both Clt1 and u keys.
A.
21. Total Transfers In (to line 36) 1 $ 0
$ 0
Transfers Out - To Other TIF Districts or Funds
22. To other TIF districts
For mare rawa to order more Martrnation, go to last row artQ�L .
A.
23. Tax increment to other funds
more roWSl0'ard r irfOrs trbrmetlon, go to fast row and press troth Ctrl and u keys.
A.
24. Non -tax increment to other funds
For nwm rows to enter more kdomurtlom go to last row and prosy u
A.
25. Total Transfers Out (to line 52)
1 $ 0
$ 0
Authority: Saint Joseph District: TIF 1-4 St Joe Development, LLC Page 2
OPERATING STATEMENT
Revenues and Other
Financing Sources (OFSs)
Original TIF -Plan
Budget Amount
Cumulative Modified
TIF -Plan Budget
Accounted for in
Prior Years
2009 Amount
WARNING: The instructions
26. Tax increment revenue $
contain information
643,000 $
necessary
643,000
to complete
$
this
292,286
$
page.
66,192
27. Market Value Homestead Credit
$
0
$
0
28. Investment earnings
$
0
$
0
$
2,318
$
1,385
29. Bond proceeds
$
0
$
0
$
0
30. Loan proceeds
$
0
$
0
$
0
31. Special assessments
$
0
$
0
$
0
32. Sales /lease proceeds
$
0
$
0
$
0
33. Loan /advance repayments
$
0
$
0
$
0
34. Grants
$
0
$
0
$
0
35. Other (describe)
FaFloxv. raves
errter more Wbmwtlon,
go to loaf row and press boo CY1 rrd u
A. Developer fee
$
0
$
0
$
12,200
B.
36. Transfers in (from line 21 )
$
0
$
0
$
0
$
0
37. Total Revenues and OFSs
Expenditures and
Other Financing Uses OFUs
38. Land /building acquisition
$
$
643,000
300,000
$
$
643,000.$
308,000
$
306,804
220,536
$
$
67,577
59,573
39. Site improvements/
preparation costs
$
0
$
50,000
$
0
40. Installation of public utilities
$
0
$
0
$
0
41. Parking facilities
$
0
$
0
$
0
42. Streets and sidewalks
$
104,400
$
46,400
$
0
43. Public park facilities
$
0
$
0
$
0
44. Social, recreation, or
conference facilities
$
0
$
0
$
0
45. Interest reduction payments
$
0
$
0
$
0
46. Bond principal payments
$
0
$
0
$
0
47. Bond interest payments
$
0
$
0
$
0
48. Loan principal payments
$
0
$
0
$
0
49. Loan /note interest payments
$
130,000
$
130,000
$
24,113
50. Administrative expenses
$
64,300
$
300
$
14,900
$
380
51. Other (describe) ,yoroSe rows
ii
mro 90 raw u
A. Capitalized interest
$
42,000
$
42,000
$
0
B. Office of the State Auditor
$
2,300
$
2,300
$
0
C. Reimburse tax jurisdictions
$
0
$
0
$
20,550
D.
52. Transfers out (from line 25)
$
0
$
0
$
0
$
0
53 Total Expenditures and OFUs
$
643,000
$
643,000
$
280,099
$
59,953
54. Revenues and OFSs Over (Under)
Expenditures and OFUs
55. Fund Balance - 12/31/08
56. Fund Balance - 12131109
$
0
$
0
$
26,705
$
$
7,624
26,705
$
34,329
Authority: Saint Joseph District: TIF 1-4 St Joe Development, LLC Page 3
BALANCE SHEET
I ❑ NotAppBcable
121 NatAppllcable
❑ NotApOkable
Assets
On or After 7/2/97
s of
12/31/08
$ 0
As o
12/31/09
57. Cash
$
26,638
$
34,057
58. Due from other funds
$
0
$
0
59. Other assets (specify)
For more rows to erKer mom Inbrmetlon, go to lest row and preas
643,000
70. Principal paid in 2009
$
0
$
0
both Ctrl and u keys.
59,573
A. Tax increment receivable
$
362,871
$
303,298
B. Interest Receivable
$
67
$
272
C.
0
$
0
73. Outstanding 12131/09
60. Total Assets
$
389,576
$
337,627
Liabilities
74. Princi al due in 2010
$
0
$
0
$
68,380
61. Due to other funds
$
0
1 $
0
62. Other liabilities (specify)
For nwro rows to enter more intonation, go b last row and preaa
0
both ON and if
A. St Joe Development LLC PAYG
$
362,871
$
303,298
B.
63. Total Liabilities
$
362,871
$
303,298
64. Fund Balance
$
26,705
$
34,329
65. Total Liabilities and Fund Balance
I $
389,5761
$
337,627
Investment Earnings
I ❑ NotAppBcable
121 NatAppllcable
❑ NotApOkable
On or Before 7/1/97
On or After 7/2/97
66. Investment earnings
$ 0
$ 3,703
Property Sales /Leases and Advance /Loan Repayments
121 NatAppllcable
❑ NotApOkable
On or Before 6/30/97
On or After 7/1/97
67. Proceeds from sale or lease of property
$ 0
$ 0
68. Repayment of advances and loans (exclude interest)
$ 0
$ 0
Non - Pooled TIF Bonds and Other Financial Obligations
❑ NotApOkable
TIF Bonds
Other
Financial Obligations
General Obligations
Revenue
69. Issue amounts
$
0
$
0
$
643,000
70. Principal paid in 2009
$
0
$
0
$
59,573
71. Principal issued in 2009
$
0
$
0
$
0
72. Interest paid in 2009
$
0
$
0
$
0
73. Outstanding 12131/09
$
0
$
0
$
303,298
74. Princi al due in 2010
$
0
$
0
$
68,380
75. Interest due in 2010
$
0
1 $
0
$
0
Authority: Saint Joseph District: TIF 1 -4 St Joe Development, LLC Page 4
76. Amount of tax increment held dedicated to the payment of non - pooled TIF bonds. $ 1 0 N/A
77. Is amount on line 76 held in an escrow account? .................................... ..............................0 ts No • NA
78. If refunding bonds have been issued, indicate the year(s) and amount(s) of the refunding issue(s): WA
For nw to erMar moro irdotntetlai, gob AM row and press both Ctrl end a lass,.,•
Year Amount
79. If pay -as- you -go financing is being used, report the amount of documented
developer costs incurred through December 31, 2009.
80. If property owners have received reimbursement of special assessments,
report the amount reimbursed through December 31, 2009.
$ 3,380,000 N/A
81. Please list the estimate, if any, contained in the TIF plan of the amount of
the cost of the project, including administrative expenses, that will be paid
or financed with tax increment. Any TIF plan or amendment approved after $ 643,000 ❑ N/A
June 30, 2003 must contain this estimate.
82. If the TIF district has special legislation, specify the year, chapter, article, and section of the law.
LIP
Far hwe WW4WWMMr a kriMUdlon, go to last rowand press hotly Ctrl and u keys.
Year Chapter Article
83. Indicate whether the authority has worked with the county auditor to correct an error qualifying
under Minn. Stat. § 469.177, subd. 13 for this district. This includes errors in the certification or
decertification of TIF districts, as well as other errors related to the computation of increment.
Section
0 YsNo;
Please enter any comment you would like to share with us below. (Maximum 255 characters each)
Lines 70 -75: The Auditor indicated all future TIF can be applied directly to principal with no interest payment. This
has been shown beginning in 2005.
Stearns County over -paid the TIF in 2005 for this district. The City refunded Stearns County $20,550 for redistribution
to all taxing authorities in July 2008. The redistribution was reported in the 12/31/08 report under line 51.c.
Authority: Saint Joseph District: TIF 1-4 St Joe Development, LLC Page 5
2009 ANNUAL DISCLOSURE STATEMENT
Name of TIF Authority: Saint Joseph
Name of Municipality: Saint Joseph
The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2009.
St. Joseph Newsleader 7/16/2010
(Name of the Newspaper) on (Date of Publication)
tPw ones w¢mn me taDie must be pubusned even it the amounts to be published are zero.)
The fiscal disparities property tax law provides that the growth in commercial - industrial property tax values is shared
throughout the area. In a tax increment financing district, this value sharing can either result in a tax increase for other
properties in the municipality or result in a decrease in tax increment financing district revenue depending on how the
tax increment financing district is established.
Tax Increment Financing District TIF 1-4 St Joe Development, LLC (name)
does not share its growth in commercial - industrial property tax values. This results in an increase
in property taxes for other properties in this municipality. For taxes payable in 2009, this increase
in taxes on other properties amounted to $ .
(This paragraph needs to be published for each district for which it applies. Please attach additional pages, if needed.)
Additional information regarding each district may be obtained from: (Required to be published)
Judy Weyrens
Name of TIF Representative
PO Box 668, St Joseph, MN 56374 (320) 363 -7201
Address (Street, City, Zip) Phone
Note to prepares Publishing the last line of the table and the two paragraphs following the table is necessary only if a
TIF district in the municipality is located in the fiscal disparities area and the municipality chose option A" under Minn.
Stat. 469.177, subd. 3(a), for the TIF district.
Name of TIF District
TIF 1 -4 St Joe Development, LLC
Current net tax capacity
$
62,012
Original net tax capacity
$
1,830
Captured net tax capacity
$
60,182
Principal and interest payments due in
2010
$
68,380
Tax increment received in 2009
$
67,577
Tax increment expended in 2009
$
59,953
Month and year of first tax increment
receipt
5/2004
Date of required decertification
12/31/2012
Increased property tax imposed on other
properties as a result of fiscal disparities
contribution*
$
0
tPw ones w¢mn me taDie must be pubusned even it the amounts to be published are zero.)
The fiscal disparities property tax law provides that the growth in commercial - industrial property tax values is shared
throughout the area. In a tax increment financing district, this value sharing can either result in a tax increase for other
properties in the municipality or result in a decrease in tax increment financing district revenue depending on how the
tax increment financing district is established.
Tax Increment Financing District TIF 1-4 St Joe Development, LLC (name)
does not share its growth in commercial - industrial property tax values. This results in an increase
in property taxes for other properties in this municipality. For taxes payable in 2009, this increase
in taxes on other properties amounted to $ .
(This paragraph needs to be published for each district for which it applies. Please attach additional pages, if needed.)
Additional information regarding each district may be obtained from: (Required to be published)
Judy Weyrens
Name of TIF Representative
PO Box 668, St Joseph, MN 56374 (320) 363 -7201
Address (Street, City, Zip) Phone
Note to prepares Publishing the last line of the table and the two paragraphs following the table is necessary only if a
TIF district in the municipality is located in the fiscal disparities area and the municipality chose option A" under Minn.
Stat. 469.177, subd. 3(a), for the TIF district.
Excess Increment Calculation Report
For The Year Ended December 31, 2009
TIF 1-4 St Joe Development, LLC
Formula
110
Tax Increment Financing District Name
County Number(s)
Saint Joseph
Saint Joseph
$ 20,550
TIF Authority
Municipality That Approved TIF District
$ 341,631
Steams
Saint Joseph
$ 643,000
County Where TIF District is Located
City/Town Where TIF District Is Located
Judy Weyrens
Administrator
(320) 363 -7201
TIF Authority's Authorized Representative
Title
Phone Number
City of St. Joseph
=
(320) 363-0342
Employer of Authorized Representative (if different from TIF authority)
Fax Number
PO Box 668
Address
St Joseph
jweyrens @cityofstjoseph.com
E-mail Address
MN 56374
Zip Code
Please note the excess increment statute was amended during the 2005 Legislative Session. There were
three significant changes.
- Nine -month time limit. The Legislature introduced a nine -month time limit in which excess increment
must be spent or returned to the county for redistribution.
- Transfers for deficit op oling The Legislature included transfers made to eliminate deficits in other
districts as part of the excess increment calculation. These transfers are authorized expenditures under
the TIF Act and should be taken into account when calculating excess increment.
- Excess increment applies to Pre -1979 TIF Districts. The Legislature established specific rules regarding
pre -1979 TIF districts. The excess increment statute states that "excess increments equal the amount of
increments on hand on December 31, less the principal and interest obligations due on outstanding
bonds or advances, qualifying under subdivision 1c, clauses (1), (2), and (5), after December 31 of the
year and not prepaid under paragraph (c)." In other words, if no outstanding obligations exist as of
December 31, any tax increment that remains is excess increment.
Formula
Value
1. Total tax increment received
$ 362,181
2. Excess increments repaid in prior years
-
$ 20,550
3. Subtract line 2 from line 1
=
$ 341,631
4. Total costs authorized to be paid with tax increment
$ 643,000
5. Total authorized costs paid from other sources
6. Total non -TIF funds dedicated to pay authorized costs
+
$ 12,200
7. Total bond principal and interest outstanding
+
$ 303,298
8. Add lines 5 through 7
=
$ 315,498
9. Amount from line 4
$ 643,000
10. Amount from line 8
-
$ 315,498
11. Total transfers of increment to reduce deficits made by 12/31/2009
+
12. Subtract line 10 from line 9 and add 11 (If negative number, show -0 -)
_
$ 327,502
13. Amount from line 3
$ 341,631
14. Amount from line 12
-
$ 327,502
15. Subtract line 14 from line 13 (If negative, show 0) Excess Tax Increment
=
$ 14,129
16. Amount of excess increment used to prepay outstanding bonds
17. Amount of excess increment paid into escrow dedicated to
payment of outstanding bonds
+
$ 14,129
18. Amount of excess increment returned to the county
+
1 $ 0
19. Add lines 16 through 18
1 $ 14,129
Tax Increment Financing District Report I
For The Year Ended December 31, 2009
TIF 2 -1 Millstream Project
08/16/2007
131
Tax Increment Financing District Name
County Number(s)
Saint Joseph
Saint Joseph
TIF Authority
Municipality That Approved TIF District
Stearns
Saint Joseph
B. Geographic enlargement date(s): .....................................................................
County Where TIF District is Located
Cityrrown Where TIF District Is Located
a.
Judy Weyrens
Administrator
(320) 363 -7201
TIF Authority's Authorized Representative
Title
Phone Number
City of St. Joseph
NatAppllcable
(320) 363 -0342
Employer of Authorized Representative (if different from TIF authority)
Fax Number
PO Box 668
jweyrens @cityofstjoseph.com
7a. Duration of the district is based on: ................................................... Statutory
Address
E -mail Address
St Joseph
MN 56374
City
State Zip Code
1. TIF District type:
O Pre -1979 Q Redevelopment
O Housing O Economic Developmment
O Uncodified law, (Specify)
2. Is this a "Qualified Housing District" as defined in MN Stat. 469.174, subd. 29(2003)?
3. TIF -plan approval date(s):
A. Original ................................................. ............................... .
................
B. Modification date(s): ................................................................................
4. Certification request date(s):
O Renewal and Renovation
O Soils Condition
O Yes * No
05
Not Appllmble
a.
A. Original ......................................................................... ...............................
08/16/2007
B. Geographic enlargement dates
NotApp6mble
a.
C. Hazardous substance subdistrict date(s): ...........................................................
Not Wcable
a.
5. Certification date(s):
A. Original ......................................................................... ...............................
08/14/2008
B. Geographic enlargement date(s): .....................................................................
0 NotApplloble
a.
C. Hazardous substance subdistrict date(s): .....................
Not Appl)rable
a.
6. Month and year first tax increment payment received (actual or anticipated):
7 / 2009
A. If an election to delay the first receipt of tax increment has been made under
NatAppllcable
MN Statute 469.175 subd. 1(b) and is identified in the TIF Plan, please
select the number of years to delay.
Years:
7. Date of required decertification: ..................................................................................... 12/31/2034
7a. Duration of the district is based on: ................................................... Statutory
Maximum Duration
8. Actual decertification date: .......................................................... 0 Not Appllmble
Tax Capacity for Taxes Payable in 2009
CI Not Aolcablej_
❑ Not Appilable
Accounted or
in Prior Years
❑ Dtct Is 8CEMPr
18. For activities and improvements outside TIF district
$ 0
$ 0
Value
9. Current net tax capacity
+
$
64,398
10. Original net tax capacity
-
$
9,131
11. Captured net tax capacity
=
$
55,267
12. Fiscal disparity deduction, if applicable
-
$
0
13. Captured net tax capacity shared with other taxing jurisdictions
-
$
0
14. Captured net tax capacity retained by TIF authority
=
$
55,267
15. Is this TIF district located in a fiscal disparities area and is it under option A? •
16. If yes, indicate the amount of total tax increase from the Commissioner of Revenue
17
Fiscal Disparities Contribution Statement ... ............................... $ NotAppllcable
Has the municipality created a special taxing district for this TIF district? . ............................... •
Tax Increment Expenditures Outside the TIF District
CI Not Aolcablej_
Accounted or
in Prior Years
2009
Amount
18. For activities and improvements outside TIF district
$ 0
$ 0
Transfers
❑ Not Appllcs
Tax Increment Expenditures Outside the TIF District
Accounted or -
ior Years
2009
Amount
19. From other TIF districts
mom Wwn8ft%1w'" W,—lcwww P"
A.
20. From other funds
f4pr mae rows to.enMr nwm kWorrrrstlon
A.
21. Total Transfers In (to line 36)
Is 0
$ 0
Transfers Out - To Other TIF Districts or Funds
22. To other TIF districts
m - !r - _ . For more mgtl Jg fbrnxm indxnwdon.,go b Isd4 w and peas bolh Ctdwwlu
A.
23. Tax increment to other funds
2` r For more haws b•a to more intormatlon.;yo, tp ;bolh q antl b. 3
A. EDA/City General Fund $ 5,625
24. Non -tax increment to other funds
>,. For more rows W ergsr more 4':91► f end; u ;, , :;
A.
25. Total Transfers Out (to line 52)
$ 0
$ 5,625
Authority: Saint Joseph District: TIF 2 -1 Millstream Project Page 2
OPERATING STATEMENT
Revenues and Other
Financing Sources (OFSs)
Original TIF -Plan
Budget Amount
Cumulative Modified
TIF -Plan Budget
Accounted for in
Prior Years
2009 Amount
WARNING: The instructions
26. Tax increment revenue
contain information
necessary
to complete
$
this
0
$
page.
6,400
$ 1,598,000
$ 0
27. Market Value Homestead Credit
$
0
$
0
28. Investment earnings
$
0
$
0
$
547
$
135
29. Bond proceeds
$
0
$
0
$
0
30. Loan proceeds
$
0
$
0
$
0
31. Special assessments
$
0
$
0
$
0
32. Sales/lease proceeds
$
0
$
0
$
0
33. Loan/advance repayments
$
0
$
0
$
0
34. Grants
$
0
$
0
$
0
35. Other (describe)
For more rows
eater more Wwmation,
po to Led row and prows bolhW and
u keys. { .
A. Deposit to issue TIF
$
0
$
0
$
11,000
B.
36. Transfers in (from line 21)
$
0
$
0
$
0
$
0
37. Total Revenues and OFSs
Expenditures and
Other Financing Uses C
38. Land /building acquisition
$
$
1,598,000
467,000
$
$
0
0
$
$
11,547
0
$
$
6,535
51760
39. Site improvements/
re aration costs
$
0
$
0
$
0
40. Installation of public utilities
$
15,000
$
0
$
0
41. Parking facilities
$
0
$
0
$
0
42. Streets and sidewalks
$
0
$
0
$
0
43. Public park facilities
$
0
$
0
$
0
44. Social, recreation, or
conference facilities
$
0
$
0
$
0
45. Interest reduction payments
$
0
$
0
$
0
46. Bond principal payments
$
0
$
0
$
0
47. Bond interest payments
$
0
$
0
$
0
48. Loan principal payments
$
0
$
0
$
0
49. Loan /note interest payments
$
845,000
$
0
$
0
50. Administrative expenses
$
160,000
$
0
$
5,786
$
439
51. Other (describe)
For more rows
more po p� u
A. Capitalized Interest
$
105,000
$
0
$
0
B. Office of the State Auditor
$
6,000
$
0
$
0
C.
52. Transfers out (from line 25)
$
0
$
0
$
0
$
5,625
53 Total Expenditures and OFUs
$
1,598,000
$
0
$
5,786
$
11,824
54. Revenues and OFSs Over (Under)
Expenditures and OFUs
$
0
$
0
$
5,761
$
1
(5,289)
55. Fund Balance - 12/31/08
56. Fund Balance - 12/31/09 Ell
1
$
$
5,761
472
Authority: Saint Joseph District: TIF 2 -1 Millstream Project Page 3
76. Amount of tax increment held dedicated to the payment of non - pooled TIF bonds. $ E N/A
77. Is amount on line 76 held in an escrow account? .............. ..........................0 No • NA
78. If refunding bonds have been issued, indicate the year(s) and amount(s) of the refunding issue(s): 0 N/A
For more rows to enter more Yi iitna*m, go to bW mw and pass botlt CM and u keys.
Year Amount
79. If pay -as- you -go financing is being used, report the amount of documented
developer costs incurred through December 31, 2009.
80. If property owners have received reimbursement of special assessments,
report the amount reimbursed through December 31, 2009.
81. Please list the estimate, if any, contained in the TIF plan of the amount of
the cost of the project, including administrative expenses, that will be paid
or financed with tax increment. Any TIF plan or amendment approved after
June 30, 2003 must contain this estimate.
$ 476,000 ❑ N/A
N/A
$ 1,598,000 ❑ N/A
82. If the TIF district has special legislation, specify the year, chapter, artide, and section of the law. . W
. For mare rows to eater morn
k� s= 61 .
Year Chapter Article
Section
83. Indicate whether the authority has worked with the county auditor to correct an error qualifying
under Minn. Stat. § 469.177, subd. 13 for this district. This includes errors in the certification or Q yes *No
decertification of TIF districts, as well as other errors related to the computation of increment.
Please enter any comment you wouia We to snare wan us Delow. (Maximum zoo cnaracterS eacn)
Line 6: The first increment was not received until 07/10 due to the construction completion of the Millstream Shops &
Lofts. Please change the first increment received date to 07/10.
Line 23.A. The transfer out from the TIF fund was reimbursing the EDA and the City General fund for expenditures
incurred on behalf of TIF 2 -1 for the Millstream Shops and Lofts. The expenditures are valid expenditures for the TIF
district.
Authority: Saint Joseph District: TIF 2 -1 Millstream Project Page 5
2009 ANNUAL DISCLOSURE STATEMENT
Name of TIF Authority: Saint Joseph
Name of Municipality: Saint Joseph
The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2009.
St. Joseph Newsleader 7/16/2010
(Name of the Newspaper) on (Date of Publication)
(All lines within the table must be published even it the amounts to be published are zero.)
The fiscal disparities property tax law provides that the growth in commercial - industrial property tax values is shared
throughout the area. In a tax increment financing district, this value sharing can either result in a tax increase for other
properties in the municipality or result in a decrease in tax increment financing district revenue depending on how the
tax increment financing district is established.
Tax Increment Financing District TIF 2 -1 Millstream Project (name)
does not share its growth in commercial- industrial property tax values. This results in an increase
in property taxes for other properties in this municipality. For taxes payable in 2009, this increase
in taxes on other properties amounted to $ .
(This paragraph needs to be published for each district for which it applies. Please attach additional pages, if needed.)
Additional information regarding each district may be obtained from: (Required to be published)
Judy Weyrens
Name of TIF Representative
PO Box 668, St Joseph, MN 56374 (320) 363 -7201
Address (Street, City, Zip) Phone
Note to preparer: Publishing the last line of the table and the two paragraphs following the table is necessary only if a
TIF district in the municipality is located in the fiscal disparities area and the municipality chose option A' under Minn.
Stat. 469.177, subd. 3(a), for the TIF district.
Name of TIF District
TIF 2 -1 Millstream Project
Current net tax capacity
$
64,398
Original net tax capacity
$
9,131
Captured net tax capacity
$
55,267
Principal and interest payments due in
2010
$
33,068
Tax increment received in 2009
$
6,535
Tax increment expended in 2009
$
11,824
Month and year of first tax increment
receipt
7/2009
Date of required decertification
12/31/2034
Increased property tax imposed on other
properties as a result of fiscal disparities
contribution'
1 $
0
(All lines within the table must be published even it the amounts to be published are zero.)
The fiscal disparities property tax law provides that the growth in commercial - industrial property tax values is shared
throughout the area. In a tax increment financing district, this value sharing can either result in a tax increase for other
properties in the municipality or result in a decrease in tax increment financing district revenue depending on how the
tax increment financing district is established.
Tax Increment Financing District TIF 2 -1 Millstream Project (name)
does not share its growth in commercial- industrial property tax values. This results in an increase
in property taxes for other properties in this municipality. For taxes payable in 2009, this increase
in taxes on other properties amounted to $ .
(This paragraph needs to be published for each district for which it applies. Please attach additional pages, if needed.)
Additional information regarding each district may be obtained from: (Required to be published)
Judy Weyrens
Name of TIF Representative
PO Box 668, St Joseph, MN 56374 (320) 363 -7201
Address (Street, City, Zip) Phone
Note to preparer: Publishing the last line of the table and the two paragraphs following the table is necessary only if a
TIF district in the municipality is located in the fiscal disparities area and the municipality chose option A' under Minn.
Stat. 469.177, subd. 3(a), for the TIF district.
Excess Increment Calculation Report
For The Year Ended December 31, 2009
TIF 2 -1 Millstream Project 131
Tax Increment Financing District Name County Number(s)
Saint Joseph Saint Joseph
TIF Authority Municipality That Approved TIF District
Steams
Saint Joseph
County Where TIF District is Located
City/Town Where TIF District Is Located
Value
Judy Weyrens
Administrator
(320) 363 -7201
TIF Authority's Authorized Representative
Title
Phone Number
City of St. Joseph
=
(320)36 342
Employer of Authorized Representative (if different from TIF authority)
Fax Number
PO Box 668
jweyrens @cityofstjoseph.com
Address
E -mail Address
+
St Joseph
MN 56374
+
City
Zip Code
=
Please note the excess increment statute was amended during the 2005 Legislative Session. There were
three significant changes.
- Nine -month time limit. The Legislature introduced a nine -month time limit in which excess increment
must be spent or returned to the county for redistribution.
- Transfers for deficit oa °ling. The Legislature included transfers made to eliminate deficits in other
districts as part of the excess increment calculation. These transfers are authorized expenditures under
the TIF Act and should be taken into account when calculating excess increment.
- Excess increment applies to Pre -1979 TIF Districts. The Legislature established specific rules regarding
pre -1979 TIF districts. The excess increment statute states that "excess increments equal the amount of
increments on hand on December 31, less the principal and interest obligations due on outstanding
bonds or advances, qualifying under subdivision 1c, clauses (1), (2), and (5), after December 31 of the
year and not prepaid under paragraph (c)." In other words, if no outstanding obligations exist as of
December 31, any tax increment that remains is excess increment.
Formula
Value
1. Total tax increment received
$ 7,082
2. Excess increments repaid in prior years
-
$ 0
3. Subtract line 2 from line 1
=
$ 7,082
4. Total costs authorized to be paid with tax increment
$ 1,598,000
5. Total authorized costs paid from other sources
6. Total non -TIF funds dedicated to pay authorized costs
+
7. Total bond principal and interest outstanding
+
$ 467,000
8. Add lines 5 through 7
=
$ 467,000
9. Amount from line 4
$ 1,598,000
10. Amount from line 8
-
$ 467,000
11. Total transfers of increment to reduce deficits made by 12/31/2009
+
12. Subtract line 10 from line 9 and add 11 (If negative number, show -0-)
_
$ 1,131,000
13. Amount from line 3
$ 7,082
14. Amount from line 12
-
$ 1,131,000
15. Subtract line 14 from line 13 (If negative, show 0) Excess Tax Increment
=
$ 0
16. Amount of excess increment used to prepay outstanding bonds
17. Amount of excess increment paid into escrow dedicated to
payment of outstanding bonds
+
18. Amount of excess increment returned to the county
+
19. Add lines 16 through 18
=
$ 0