HomeMy WebLinkAbout[05a] 2012 BudgetDATE: July 13, 22011
MEMO TO: St. Joseph Economic DDevelopment Authority
FROM: CynthiaSSmith-Strack, Municipal Deevelopment GGroup
EDA Budgget – 2012
RE:
Capital Immprovement PPlans for 20122
Backgroundd
The City’s Finance Director, Lori Barttlett has convvened the 20012 budget process. The EDA must
submit a preeliminary budgget to the Citty Council forr consideratioon at budget workshop(s) in August.
An operationnal budget connsistent with that containeed in the 20111 annual budgget has been submitted
to the Financce Director. CChanges to thhe operational budget mayy be made byy the EDA at tthe August
rd
3 meeting.
The Capital IImprovement Plan (CIP) iss the crucial item before thhe EDA for discussion. Atttached you
will find the foorecast CIP aas provided byy the Financee Director.
For your information:
The amount forecast for 2012 in the original EDAA CIP created in 2008 foor the years 22009-2013
330,000 for DDowntown revitalization/reenewal, $10,0000 for the BFA, and $220,000 for
requested $
purchase of lland potentially previous sstudent rental properties foor public use iin close proximity to the
downtown (ee.g. use as pparking or community squuare). Total pprojected CIPP request wass $60,000.
Please note this projection was made when development downtturn was begiinning by the prolonged
affects of thee Great Receession were nnot a reality. The EDA has moved awaay from speccific project
amounts included in the CCIP in recent yyears.
The followingg table illustraates previous CIP allocations and assocciated informaation.
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20082009 $ 60,000 $ 20,000n/a
20092010 $ 40,000 $ 20,000 $ 9,125
20102011 $ 60,000 $ 40,000 $ 5,160
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The next table summarizes the 2011 CIP approved request.
2011 CIP CATEGORIES
Category Budgeted Amount
Let’s Go Downtown (Renewal/Revitalization) $ 22,000
Business Development/TIF $ 8,000
Producer/Processor/Institution (Market Development)
BFA Grant Program $ 10,000
Student Rental Conversion
CSAH 2/3 Collector Street
üìðôððð
TOTAL
The final table is a starting point for potential EDA discussion regarding the 2012 CIP.
2012 CIP REQUESTS
Category Budget Request
Let’s Go Downtown (Renewal/Revitalization) $ 20,000
Business Development/TIF (Business Development) $ 10,000
Producer/Processor/Institution (Market Development) $ 2,500
BFA Grant Program (Business Development) $ 8,000
Business Demolition Program (Infrastructure Development) $ 8,000
Student Rental Conversion (Infrastructure Development) $ 2,500
CSAH 2/3 Collector Street (Infrastructure Development) $ 5,000
üëêôððð
TOTAL
Action:
The EDA is asked to review/confirm the preliminary budget for 2012 to the City Council. In addition,
the EDA is asked to recommend a preliminary CIP budget for 2012 to the City Council.
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