HomeMy WebLinkAboutAug 18, 2020 EDA Packetwww. Cityofstj oseph.com
CITY OF ST. JOSEPH
St. Joseph Economic Development Authority
August 18, 2020
12:00 PM
Administrator
1.
12:00 PM Call to order
Kris Ambuehl
2.
Public Comments
3.
Approve Agenda
Mayor
4.
Consent Agenda
a. Minutes — Requested Action: Approve the minutes of June 16, 2020.
Rick Schultz
b. Financial Report — Requested Action: Accept the July 2020 Financial Reports as presented.
5.
Revolving Loan Fund Request — Minnesota Street Market
Councilors
6.
Business/Development Updates
Anne Buckvold
7.
Board Member Announcements
Troy Goracke
Bob Loso
8.
Adjourn
Brian Theisen
75 Callaway Street East • Saint Joseph, Minnesota 56374
Email cityoffices@cityofst oseph.com Phone 320.363.7201 Fax 320.363.0342
June 16, 2020
Page 1 of 2
Pursuant to due call and notice thereof, the St. Joseph Economic Development Authority met on
Tuesday, June 16, 2020 at 12:00 PM at the St. Joseph Government Center.
Members Present: Board Members Rick Schultz, Doug Danielson Troy Goracke, Larry Hosch, Dale Wick
City Administrator Kris Ambuehl
Members Absent: None
City Representatives Present: Community Development Director Therese Haffner, Finance Director Lori
Bartlett, Planning Intern Josh Storms
Schultz called the St. Joseph Economic Development Authority meeting to order at 12:00 PM
Agenda Approval: Haffner added item 8a Sale of Property, Outlot C of Liberty Pointe. Wick made a
motion to approve the agenda as amended, seconded by Goracke and passed unanimously by
those present.
Consent Agenda: Goracke made a motion to approve the consent agenda as follows; seconded by
Danielson and passed unanimously by those present.
a. Minutes - Approved the minutes of May 19, 2020.
b. April Financial Report - Accepted the May 2020 Financial Report as presented.
Revolvinq Loan Fund Request — Jupiter Moon Ice Cream: Jupiter Moon Ice Cream Owner David Boyer
presented background on his current business and future operation of the business to be located in Mill
Stream Shops and Lofts in downtown St. Joseph. Bartlett provided an overview of the loan request for
$10,000. The Finance Committee reviewed the request and recommended approving a $10,000 loan for
a term of five years at a three percent interest rate. Wick asked when the shop would be open. Boyer said
likely in August.
Goracke made a motion to approve a $10,000 loan for a term of five years at a three percent
interest rate, seconded by Wick and passed unanimously by those present.
Outdoor Summer Events: Ambuehl presented a proposed plan for five outdoor summer events to be held
on Thursdays starting in July. The proposed plan would be to block certain streets and blocks. CVB
Director Mary Bruno has reached out to businesses on interest and participation. There would be music,
events for kids, and food for sale by businesses. The plan proposes fireworks on July 3rd. Ambuehl
shared that Little Falls did this last year and this would emulate that. Ambuehl requested consideration for
approval and funding from the EDA for the outdoor summer events and fireworks. Danielson shared that
he was in charge of fireworks for Joetown and offered to reach out to his contact. There was discussion
on the size of the events. Ambuehl responded that streets would be closed off to manage the number and
CDC Guidelines would be followed. Schultz recommended $10,000 total. Ambuehl suggested having a
separate fund for the fireworks recommending Mary Bruno contact businesses to sponsor. Danielson said
he would also gather information on fireworks, including sponsorship and forward to Ambuehl.
Schultz made a motion to approve $2,000 per week for $10,000 total for outdoor summer events,
excluding the fireworks, seconded by Wick and passed unanimously by those present.
Goracke made a motion to approve $3,500 for fireworks, seconded by Wick and passed
unanimously by those present.
2021 Budget: Bartlett presented the proposed 2021 EDA budget and asked for input. Schultz suggested
maintaining budget.
Wick made a motion to approve the proposed 2021 EDA Budget as presented, seconded by
Danielson and passed unanimously by those present.
June 16, 2020
Page 2of2
Development Updates:
a. Sale of Property, Outlot C, Liberty Pointe
Haffner shared that the EDA had previously approved the sale of the property to St. Joseph Vista/Sand
Companies for $25,000. The Title Company has requested a formal resolution approving the sale.
Haffner presented the resolution approving the sale.
Wick made a motion to approve Resolution No. 2020-01 Approving the Conveyance of Certain
Property Owned by the City of St. Joseph Economic Development Authority and Ratifying
Approval of the Purchase to St. Joseph Vista, LLC, seconded by Hosch and passed unanimously
by those present.
b. Other Development: Haffner provided the following update:
The site plan and building permit review is nearly completed for Vista Apartments. Estimated timeline to
start construction is June.
Adjourn: Schultz adjourned the at 12:52 PM.
Therese Haffner
Community Development Director
- 1, —2, I.JL&
CITY OF ST. JOSEPH
MEETING DATE
AGENDA ITEM:
SUBMITTED BY:
August 18, 2020
July Finance Reports
Finance
EDA Agenda Item 4b
BOARD/COMMISSION/COMMITTEE/COUNCIL RECOMMENDATION: N/A
PREVIOUS EDA ACTION: None
BACKGROUND INFORMATION:
Enclosed you will find the reconciled financial reports through July 31, 2020. The ending undesignated
balance shows a surplus of $46,248. The designated project balance is $22,235. The capital designated
balance includes 2020 capital budget balance of $44,100. Without the unspent capital budget, the net
position is a surplus of $65,755. The EDA is mainly funded by tax proceeds. The first half tax proceeds
were received in June and July. The final settlement is due in December.
The other funds reported include the TIF funds, Lodging Tax, DEED CDAP Grant reimbursement and the
Revolving Loan fund. There are two revolving loans to Krewe and Flour to Flower Bakery and Jupiter
Moon Ice Cream. The Minnesota Street Market applied for a loan in July and is a separate agenda action
for the Board. The current revolving loan fund balance is $220,641 at July 31't', including $189,554
reserved balance from the EDA fund to be used for future economic development; $31,087 is available
from the State's RLF fund for future loan requests. The City Council allowed Krewe to delay their RLF
loan payments for three months due to the COVID-19 emergency declaration. Jupiter Moon Ice Cream
received their loan proceeds on July 9t1i. Their first payment is due August 15'.
The Lodging Tax fund has a balance of $27,930 on July 31'. A summary of their activity is enclosed in
this report. Staff will monitor collections. The lodging tax revenue in the 2nd quarter decreased with the
pandemic. With the State allowing sales tax collections to be delayed, lodging taxes are also delayed.
The 2018 Housing Rehab grant administered by Central MN Housing Partnership has a balance of
$78,378. Per Ed Zimny at the Partnership, there is an interested person applying for a project and opened
the grant area to the phase 2 area. Ed is marketing the funds to both the phase 1 and 2 areas. Ed informed
staff he is leaving the CMHP, his replacement is onboard and will be transitioning into his new role.
The 2019 TIF reports and the first half 2020 TIF/Abatement payments were approved by the city council
in July. Further, the TIF 3-1 for the Central MN Credit Union will be decertified early on December 31,
2020. The TIF collections met the $125,000 Pay As You Go Note, the gap the Credit Union asked to
cover. The tax collections will go back on the tax rolls in 2021 (4 years earlier than projected).
BUDGET/FISCAL IMPACT:
ATTACHMENTS:
For Information Only
EDA Financial Summary
EDA Balance Sheet
EDA Check Register
EDA Revenue Report
EDA Expenditure Report
EDA Summary CIP
CVB Financial Summary
REQUESTED BOARD ACTION: Consider acceptance of the July financial reports.
St. Joseph Economic Development Authority
Summary Treasurer's Report - Fund 150
July 2020
Fund 150, EDA Balance as of December 31, 2019 (Audited) 40,700.12
Year to Date Revenue:
Interest Earnings
745.28
TIF/MIF Deposit
-
DEED Housing Federal Grant Proceeds
-
Abatement Reimbursement (School District)
4,691.00
Ad Valorem Taxes
64,330.33
Surplus Property (Sale of Outlot C)
24,500.00
Total Revenue
94,266.61
Year to Date Expenditures by Object:
68,483.86
Board Stipends
-
Staff Salaries/Training
(19,762.93)
Workers Comp Premium
-
Software Support/Office Supplies
(637.96)
Professional Services
-
Legal/Engineering Fees
(929.12)
Telephone
(778.57)
Greater St. Cloud Development Investment
(5,000.00)
Business Round Table Outreach
-
Advertising
(45.00)
Abatement Payments (Country Manor)
(15,040.24)
CM Housing Grant Reimbursement
-
Computers
(670.17)
EDA Programs
(23,618.88)
Transfer to Other Funds
-
Total Expenses
(66,482.87)
Fund Summaries as of July 31, 2020:
EDA Fund Balance - Fund 150 - unaudited, cash balance
68,483.86
Designated for Capital Programs
22,235.41
Undesignated
46,248.45
TIF 3-1 Central MN Credit Union Fund Balance - Fund 152
16,434.00
TIF 4-1 Fortitude Senior Apts Fund Balance - Fund 153
8,224.48
TIF 2-1 Millstream Shops and Lofts Fund Balance - Fund 157
31,141.95
TIF 2-2 St. Joseph Meat Market Fund Balance - Fund 158
377.26
TIF 2-3 Bayou Blues & Alley Flats Fund Balance - Fund 159
(9,698.25)
Lodging Tax Fund Balance - Fund 220
27,930.38
DEED CDAP Grant Fund Balance - Fund 225
50,139.07
Revolving Loan Fund Balance - Fund 250
220,640.59
Designated for Revolving Loan Program
31,086.68
Designated for Economic Development
189,553.91
City of St. Joseph 08/12/20 9:40 AM
EDA Balance Sheet Page 1
Current Period: July 2020
CITY OF ST. JOSEPH[
YTD YTD Current
FUND Descr Account Descr Begin Yr Debit Credit Balance
FUND 150 Economic Development
Economic Development
G 150-10100 Cash
Economic Development
G 150-10450 Interest Receivable
Economic Development
G 150-10500 Accounts Receivable
Economic Development
G 150-10700 Taxes Receivable - Delinquent
Economic Development
G 150-13113 Due From other Gov t Units
Economic Development
G 150-15500 Due From Other Fund
Economic Development
G 150-20200 Accounts Payable
Economic Development
G 150-20201 Salaries Payable
Economic Development
G 150-22204 Deferred Inflow of Resources
Economic Development
G 150-24415 Design. Fd Bal - Operations
Economic Development
G 150-25310 Unassigned Fund Balance
FUND 150 Economic Development
FUND 152 TIF 3-1 CMCU
TIF 3-1 CMCU
TIF 3-1 CMCU
TIF 3-1 CMCU
TIF 3-1 CMCU
TIF 3-1 CMCU
TIF 3-1 CMCU
FUND 152 TIF 3-1 CMCU
G 152-10100 Cash
G 152-10450 Interest Receivable
G 152-10500 Accounts Receivable
G 152-20200 Accounts Payable
G 152-20500 Due To Other Fund
G 152-25310 Unassigned Fund Balance
FUND 153 TIF 4-1 Fortitude Senior Apts
$29,584.19 $100,055.99 $71,456.32 $58,183.86
$159.80
$0.00
$159.80
$0.00
$0.00
$0.00
$0.00
$0.00
$2,089.77
$0.00
$2,089.77
$0.00
$5,589.13
$0.00
$5,589.13
$0.00
$10,300.00
$0.00
$0.00
$10,300.00
-$4,727.88
$4,727.88
$0.00
$0.00
-$205.12
$205.12
$0.00
$0.00
-$2,089.77
$2,089.77
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
-$40,700.12
$77,205.25
$104,988.99
-$68,483.86
$0.00
$184,284.01
$184,284.01
$0.00
$3,130.97 $22,573.59 $9,270.56 $16,434.00
$7.45
$0.00
$7.45
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
-$3,138.42
$9,278.01
$22,573.59
-$16,434.00
$0.00
$31,851.60
$31,851.60
$0.00
TIF 4-1 Fortitude Senior G 153-10100 Cash
$6,229.11
$28,388.65
$26,393.28
$8,224.48
TIF 4-1 Fortitude Senior G 153-10450 Interest Receivable
$19.71
$0.00
$19.71
$0.00
TIF 4-1 Fortitude Senior G 153-10500 Accounts Receivable
$0.00
$0.00
$0.00
$0.00
TIF 4-1 Fortitude Senior G 153-20200 Accounts Payable
$0.00
$0.00
$0.00
$0.00
TIF 4-1 Fortitude Senior G 153-20500 Due To Other Fund
$0.00
$0.00
$0.00
$0.00
TIF 4-1 Fortitude Senior G 153-25310 Unassigned Fund Balance
-$6,248.82
$26,412.99
$28,388.65
-$8,224.48
FUND 153 TIF 4-1 Fortitude Senior Apts
$0.00
$54,801.64
$54,801.64
$0.00
FUND 157 TIF 2-1 Millstream
TIF 2-1 Millstream G 157-10100 Cash
$30,039.91
$23,743.27
$22,641.23
$31,141.95
TIF 2-1 Millstream G 157-10450 Interest Receivable
$101.98
$0.00
$101.98
$0.00
TIF 2-1 Millstream G 157-10500 Accounts Receivable
$0.00
$0.00
$0.00
$0.00
TIF 2-1 Millstream G 157-13113 Due From other Gov t Units
$0.00
$0.00
$0.00
$0.00
TIF 2-1 Millstream G 157-20200 Accounts Payable
$0.00
$0.00
$0.00
$0.00
TIF 2-1 Millstream G 157-25310 Unassigned Fund Balance
-$30,141.89
$22,743.21
$23,743.27
-$31,141.95
FUND 157 TIF 2-1 Millstream
$0.00
$46,486.48
$46,486.48
$0.00
FUND 158 TIF 2-2 Meat Market
TIF 2-2 Meat Market G 158-10100 Cash
$701.75
$4,359.19
$4,183.68
$877.26
TIF 2-2 Meat Market G 158-10450 Interest Receivable
$3.10
$0.00
$3.10
$0.00
TIF 2-2 Meat Market G 158-20201 Salaries Payable
$0.00
$0.00
$0.00
$0.00
TIF 2-2 Meat Market G 158-20500 Due To Other Fund
-$500.00
$0.00
$0.00
-$500.00
TIF 2-2 Meat Market G 158-25310 Unassigned Fund Balance
-$204.85
$4,186.78
$4,359.19
-$377.26
FUND 158 TIF 2-2 Meat Market
$0.00
$8,545.97
$8,545.97
$0.00
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
TIF 2-3 Bayou Blues/All G 159-10100 Cash
$362.69
$7,180.10
$7,441.04
$101.75
TIF 2-3 Bayou Blues/All G 159-10450 Interest Receivable
$2.37
$0.00
$2.37
$0.00
TIF 2-3 Bayou Blues/All G 159-13113 Due From other Gov t Units
$41.27
$0.00
$41.27
$0.00
City of St. Joseph
EDA Balance Sheet
Current Period: July 2020
CITY OF ST. JOSEPH[
08/12/20 9:40 AM
Page 2
FUND 220 Lodging Tax
Lodging Tax
G 220-10100 Cash
$34,282.58
YTD
YTD
Current
FUND Descr
Account Descr
Begin Yr
Debit
Credit
Balance
TIF 2-3 Bayou Blues/All
G 159-20200 Accounts Payable
$0.00
$0.00
$0.00
$0.00
TIF 2-3 Bayou Blues/All
G 159-20500 Due To Other Fund
-$9,800.00
$0.00
$0.00
-$9,800.00
TIF 2-3 Bayou Blues/All
G 159-25310 Unassigned Fund Balance
$9,393.67
$7,484.68
$7,180.10
$9,698.25
FUND 159 TIF 2-3 Bayou Blues/Alley
Flat
$0.00
$14,664.78
$14,664.78
$0.00
FUND 220 Lodging Tax
Lodging Tax
G 220-10100 Cash
$34,282.58
$8,640.69
$14,992.89
$27,930.38
Lodging Tax
G 220-10450 Interest Receivable
$120.60
$0.00
$120.60
$0.00
Lodging Tax
G 220-10500 Accounts Receivable
$381.93
$0.00
$381.93
$0.00
Lodging Tax
G 220-25310 Unassigned Fund Balance
-$34,785.11
$15,495.42
$8,640.69
-$27,930.38
FUND 220 Lodging Tax
$0.00
$24,136.11
$24,136.11
$0.00
FUND 225 DEED CDAP Grant
DEED CDAP Grant
G 225-10100 Cash
$32,937.58
$17,201.49
$0.00
$50,139.07
DEED CDAP Grant
G 225-10450 Interest Receivable
$122.24
$0.00
$122.24
$0.00
DEED CDAP Grant
G 225-25310 Unassigned Fund Balance
-$33,059.82
$122.24
$17,201.49
-$50,139.07
FUND 225 DEED CDAP Grant
$0.00
$17,323.73
$17,323.73
$0.00
FUND 250 Revolving Loan
Fund
Revolving Loan Fund
G 250-10100 Cash
$219,625.50
$11,376.18
$10,100.00
$220,901.68
Revolving Loan Fund
G 250-10450 Interest Receivable
$1,002.95
$0.00
$1,264.04
-$261.09
Revolving Loan Fund
G 250-11900 Notes Receivable
$52,500.00
$0.00
$52,500.00
$0.00
Revolving Loan Fund
G 250-22204 Deferred Inflow of Resources
-$51,373.70
$51,373.70
$0.00
$0.00
Revolving Loan Fund
G 250-24415 Design. Fd Bal - Operations
-$33,571.12
$0.00
$0.00
-$33,571.12
Revolving Loan Fund
G 250-25310 Unassigned Fund Balance
-$188,183.63
$12,490.34
$11,376.18
-$187,069.47
FUND 250 Revolving Loan
Fund
$0.00
$75,240.22
$75,240.22
$0.00
$0.00
$457,334.54
$457,334.54
$0.00
City of St. Joseph 08/12/20 9:41 AM
EDA Check Register Page 1
A i , ' _L
CITY OF ST. JOSEPH
CHECK
# Search Name
056415
056416
056417
056419
056421
056423
056428
056430
056430
056460
056467
056470
056470
056470
056470
056486
056493
056493
056534
BRUNO PRESS
CENTRAL MN CREDIT UNION
COUNTRY MANOR ST. 3OSEPH
FORTITUDE SENIOR LIVING
KENSINGTON BANK
PFANNENSTEIN, HARVEY & CAROL
WEST BANK
JUPITER MOON, LLC
JUPITER MOON, LLC
VIKING INDUSTRIAL CENTER, INC
MIDCONTINENT COMMUNICATIONS
NORTHLAND SECURITIES, INC
NORTHLAND SECURITIES, INC
NORTHLAND SECURITIES, INC
NORTHLAND SECURITIES, INC
COUNTRY MANOR ST. 3OSEPH
3OVANOVICH, DEGE & ATHMANN
3OVANOVICH, DEGE & ATHMANN
WEST BANK
Comments
FUND DEPART Amount
3uly 2020 CVB Social Media Ma
220
1st Half 2020 Tax Abatement -
152
1st Half 2020 Tax Abatement -
150
1st Half 2020 Tax Abatement -
153
1st Half 2020 Tax Abatement -
159
1st Half 2020 Tax Abatement -
158
1st Half 2020 Tax Abatement -
157
Revolving Loan - Jupiter Moon
250
Revolving Loan Origination Fee
250
Caution Tape - Fireworks
220
3uly 2020 Telephone/Fiber
150
2019 Annual TIF Reporting
157
2019 Annual TIF Reporting
159
2019 Annual TIF Reporting
152
2019 Annual TIF Reporting
153
Country Manor Tax Abatement
150
RLF Loans - EDA - June 2020
150
RLF Loand - June 2020
250
2nd 3uly TIF 2-1 Millstream set
157
46500
46500
46500
46500
46500
46500
46500
46500
46500
46500
46500
46500
46500
46500
46500
46500
46500
46500
46500
$750.00
$8,280.56
$10,349.24
$25,403.28
$6,413.90
$4,122.63
$17,091.59
$10,000.00
-$100.00
$227.88
$114.96
$990.00
$990.00
$990.00
$990.00
$4,691.00
$ 546.00
$100.00
$3,609.64
$95,560.68
City of St. Joseph 08/12/20 9:42 AM
EDA Revenue Report Page 1
Current Period: July 2020
CITY OF ST. JOSEPH[
2020 3uly 2020
Account Descr SOURC YTD Budget 2020 Amt YTD Amt
FUND 150 Economic Development
R 150-46500-31010 Current Ad Valorem Taxes
31010
$124,530.00
$1,209.41
$64,330.33
R 150-46500-33160 Federal Grants - Other
33160
$0.00
$0.00
$0.00
R 150-46500-34150 TIF/MIF Deposit
34150
$0.00
$0.00
$0.00
R 150-46500-34160 Tax Abatement Reimbursement
34160
$0.00
$4,691.00
$4,691.00
R 150-46500-36210 Interest Earnings
36210
$1,000.00
$22.83
$745.28
R 150-49302-36260 Surplus Property
36260
$0.00
$0.00
$24,500.00
R 150-49302-39201 Transfers from Other Funds
39201
$0.00
$0.00
$0.00
FUND 150 Economic Development
$125,530.00
$5,923.24
$94,266.61
FUND 152 TIF 3-1 CMCU
R 152-46500-31050 Tax Increment
31050
$0.00
$0.00
$22,483.65
R 152-46500-36210 Interest Earnings
36210
$0.00
$15.48
$82.49
R 152-49302-39201 Transfers from Other Funds
39201
$0.00
$0.00
$0.00
FUND 152 TIF 3-1 CMCU
$0.00
$15.48
$22,566.14
FUND 153 TIF 4-1 Fortitude Senior Apts
R 153-46500-31050 Tax Increment
31050
$0.00
$0.00
$28,225.87
R 153-46500-34150 TIF/MIF Deposit
34150
$0.00
$0.00
$0.00
R 153-46500-36210 Interest Earnings
36210
$0.00
$22.82
$143.07
R 153-49302-39201 Transfers from Other Funds
39201
$0.00
$0.00
$0.00
FUND 153 TIF 4-1 Fortitude Senior Apts
$0.00
$22.82
$28,368.94
FUND 157 TIF 2-1 Millstream
R 157-46500-31050 Tax Increment
31050
$0.00
$4,010.71
$23,001.36
R 157-46500-36210 Interest Earnings
36210
$0.00
$52.13
$639.93
FUND 157 TIF 2-1 Millstream
$0.00
$4,062.84
$23,641.29
FUND 158 TIF 2-2 Meat Market
R 158-46500-31050 Tax Increment
31050
$0.00
$0.00
$4,339.61
R 158-46500-36210 Interest Earnings
36210
$0.00
$3.13
$16.48
R 158-49302-39201 Transfers from Other Funds
39201
$0.00
$0.00
$0.00
FUND 158 TIF 2-2 Meat Market
$0.00
$3.13
$4,356.09
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
R 159-46500-31050 Tax Increment
31050
$0.00
$0.00
$7,126.56
R 159-46500-36210 Interest Earnings
36210
$0.00
$3.98
$9.90
R 159-49302-39201 Transfers from Other Funds
39201
$0.00
$0.00
$0.00
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
$0.00
$3.98
$7,136.46
FUND 220 Lodging Tax
R 220-46500-31600 Lodging Tax
31600
$14,000.00
$683.62
$2,487.13
R 220-46500-34409 Marketing
34409
$200.00
$0.00
$0.00
R 220-46500-36210 Interest Earnings
36210
$500.00
$38.41
$651.03
R 220-46500-36230 Contributions - General
36230
$0.00
$5,000.00
$5,000.00
FUND 220 Lodging Tax
$14,700.00
$5,722.03
$8,138.16
FUND 225 DEED CDAP Grant
R 225-46500-34200 DEED Housing Reimbursement
34200
$0.00
$0.00
$16,221.28
R 225-46500-36210 Interest Earnings
36210
$1,000.00
$66.95
$857.97
R 225-49302-39201 Transfers from Other Funds
39201
$0.00
$0.00
$0.00
FUND 225 DEED CDAP Grant
$1,000.00
$66.95
$17,079.25
FUND 250 Revolving Loan Fund
City of St. Joseph 08/12/20 9:42 AM
Page 2
EDA Revenue Report
Current Period: July 2020
CITY OF ST. JOSEPH
$151,555.00 $16,250.29 $214,538.78
2020
3uly
2020
Account Descr
SOURC
YTD Budget
2020 Amt
YTD Amt
R 250-46500-36210 Interest Earnings
36210
$2,000.00
$329.82
$3,804.73
R 250-49302-39201 Transfers from Other Funds
39201
$0.00
$0.00
$0.00
R 250-46500-39320 Loan Principal
39320
$6,860.00
$0.00
$4,126.87
R 250-46500-39321 Loan Interest
39321
$1,465.00
$0.00
$954.24
R 250-46500-39322 Loan Origination Fee
39322
$0.00
$100.00
$100.00
FUND 250 Revolving Loan Fund
$10,325.00
$429.82
$8,985.84
$151,555.00 $16,250.29 $214,538.78
City of St. Joseph
EDA Expenditure Report
Current Period: July 2020
CITY OF ST. JOSEPH[
2020 3uly 2020
Account Descr YTD Budget 2020 Amt YTD Amt
FUND 150 Economic Development
E 150-46500-101 Salaries
E 150-46500-103 Legislative Bodies
E 150-46500-121 PERA Contributions
E 150-46500-122 FICA Contributions
E 150-46500-123 Deferred Comp -Employer
E 150-46500-125 Medicare Contributions
E 150-46500-130 H S A- Employer Contribution
E 150-46500-131 Health Insurance
E 150-46500-132 Dental Insurance
E 150-46500-133 Life Insurance
E 150-46500-134 Disabilty Insurance
E 150-46500-151 Workers Comp. Insur. Prem.
E 150-46500-171 Clothing Allowance
E 150-46500-200 Office Supplies
E 150-46500-215 Software Support
E 150-46500-300 Professional Services
E 150-46500-303 Engineering Fee
E 150-46500-304 Legal Fees
E 150-46500-308 Community Programs
E 150-46500-321 Telephone
E 150-46500-322 Postage
E 150-46500-328 Marketing
E 150-46500-331 Travel & Conference Expense
E 150-46500-340 Advertising
E 150-46500-433 Dues & Memberships
E 150-46500-582 Computer Software
E 150-46500-588 EDA Programs
E 150-46500-622 TIF/Abatement Payments
E 150-49300-720 Transfers to Other Funds
FUND 150 Economic Development
FUND 152 TIF 3-1 CMCU
$33,510.00
$2,648.08
$12,758.83
$4,410.00
$0.00
$0.00
$2,515.00
$198.60
$956.92
$1,925.00
$160.35
$761.08
$455.00
$38.13
$1,214.39
$450.00
$37.51
$177.98
$875.00
$281.25
$562.50
$6,090.00
$331.58
$2,212.69
$415.00
$25.05
$167.09
$25.00
$1.58
$10.67
$285.00
$17.30
$105.15
$215.00
$0.00
$0.00
$70.00
$0.00
$0.00
$500.00
$0.00
$16.74
$1,445.00
$0.00
$621.22
$0.00
$0.00
$0.00
$2,000.00
$0.00
$383.12
$1,000.00
$546.00
$546.00
$0.00
$0.00
$0.00
$1,400.00
$114.96
$778.57
$100.00
$0.00
$0.00
$1,000.00
$0.00
$0.00
$1,750.00
$0.00
$540.63
$200.00
$0.00
$45.00
$5,295.00
$0.00
$5,295.00
$500.00
$0.00
$670.17
$44,100.00
$0.00
$23,618.88
$15,000.00
$15,040.24
$15,040.24
$0.00
$0.00
$0.00
$125,530.00 $19,440.63 $66,482.87
E 152-46500-101 Salaries
$0.00
$0.00
$0.00
E 152-46500-121 PERA Contributions
$0.00
$0.00
$0.00
E 152-46500-122 FICA Contributions
$0.00
$0.00
$0.00
E 152-46500-123 Deferred Comp -Employer
$0.00
$0.00
$0.00
E 152-46500-125 Medicare Contributions
$0.00
$0.00
$0.00
E 152-46500-132 Dental Insurance
$0.00
$0.00
$0.00
E 152-46500-133 Life Insurance
$0.00
$0.00
$0.00
E 152-46500-134 Disabilty Insurance
$0.00
$0.00
$0.00
E 152-46500-300 Professional Services
$0.00
$990.00
$990.00
E 152-46500-301 Audit & Accounting Services
$750.00
$0.00
$0.00
E 152-46500-340 Advertising
$45.00
$0.00
$0.00
E 152-46500-622 TIF/Abatement Payments
$0.00
$8,280.56
$8,280.56
E 152-49300-720 Transfers to Other Funds
$0.00
$0.00
$0.00
FUND 152 TIF 3-1 CMCU
$795.00
$9,270.56
$9,270.56
FUND 153 TIF 4-1 Fortitude Senior Apts
E 153-46500-101 Salaries
$0.00
$0.00
$0.00
E 153-46500-121 PERA Contributions
$0.00
$0.00
$0.00
E 153-46500-122 FICA Contributions
$0.00
$0.00
$0.00
E 153-46500-125 Medicare Contributions
$0.00
$0.00
$0.00
08/12/20 9:42 AM
Page 1
City of St. Joseph
EDA Expenditure Report
Current Period: July 2020
CITY OF ST. JOSEPH
08/12/20 9:42 AM
Page 2
2020
3uly
2020
Account Descr
YTD Budget
2020 Amt
YTD Amt
E 153-46500-300 Professional Services
$0.00
$990.00
$990.00
E 153-46500-340 Advertising
$0.00
$0.00
$0.00
E 153-46500-588 EDA Programs
$0.00
$0.00
$0.00
E 153-46500-622 TIF/Abatement Payments
$0.00
$25,403.28
$25,403.28
E 153-49300-720 Transfers to Other Funds
$0.00
$0.00
$0.00
FUND 153 TIF 4-1 Fortitude Senior Apts
$0.00
$26,393.28
$26,393.28
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 157-46500-132 Dental 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 157-46500-300 Professional Services
$0.00
$990.00
$1,940.00
E 157-46500-301 Audit & Accounting Services
$500.00
$0.00
$0.00
E 157-46500-340 Advertising
$45.00
$0.00
$0.00
E 157-46500-622 TIF/Abatement Payments
$34,000.00
$20,701.23
$20,701.23
E 157-49300-720 Transfers to Other Funds
$0.00
$0.00
$0.00
FUND 157 TIF 2-1 Millstream
$34,545.00
$21,691.23
$22,641.23
FUND 158 TIF 2-2 Meat Market
E 158-46500-101 Salaries
$0.00
$46.48
$46.48
E 158-46500-121 PERA Contributions
$0.00
$3.48
$3.48
E 158-46500-122 FICA Contributions
$0.00
$2.78
$2.78
E 158-46500-123 Deferred Comp -Employer
$0.00
$0.63
$0.63
E 158-46500-125 Medicare Contributions
$0.00
$0.65
$0.65
E 158-46500-131 Health Insurance
$0.00
$6.58
$6.58
E 158-46500-132 Dental Insurance
$0.00
$0.45
$0.45
E 158-46500-133 Life Insurance
$0.00
$0.00
$0.00
E 158-46500-134 Disabilty Insurance
$0.00
$0.00
$0.00
E 158-46500-300 Professional Services
$0.00
$0.00
$0.00
E 158-46500-301 Audit & Accounting Services
$500.00
$0.00
$0.00
E 158-46500-340 Advertising
$45.00
$0.00
$0.00
E 158-46500-622 TIF/Abatement Payments
$4,000.00
$4,122.63
$4,122.63
FUND 158 TIF 2-2 Meat Market
$4,545.00
$4,183.68
$4,183.68
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
E 159-46500-101 Salaries
$0.00
$0.00
$0.00
E 159-46500-121 PERA Contributions
$0.00
$0.00
$0.00
E 159-46500-122 FICA Contributions
$0.00
$0.00
$0.00
E 159-46500-123 Deferred Comp -Employer
$0.00
$0.00
$0.00
E 159-46500-125 Medicare Contributions
$0.00
$0.00
$0.00
E 159-46500-132 Dental Insurance
$0.00
$0.00
$0.00
E 159-46500-133 Life Insurance
$0.00
$0.00
$0.00
E 159-46500-134 Disabilty Insurance
$0.00
$0.00
$0.00
E 159-46500-300 Professional Services
$0.00
$990.00
$990.00
E 159-46500-301 Audit & Accounting Services
$750.00
$0.00
$0.00
E 159-46500-340 Advertising
$45.00
$0.00
$0.00
E 159-46500-622 TIF/Abatement Payments
$0.00
$6,413.90
$6,451.04
E 159-49300-720 Transfers to Other Funds
$0.00
$0.00
$0.00
City of St. Joseph
EDA Expenditure Report
Current Period: July 2020
CITY OF ST. JOSEPH
08/12/20 9:42 AM
Page 3
2020
3uly
2020
Account Descr
YTD Budget
2020 Amt
YTD Amt
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
$795.00
$7,403.90
$7,441.04
FUND 220 Lodging Tax
E 220-46500-300 Professional Services
$3,000.00
$750.00
$5,250.00
E 220-46500-309 Visitors Bureau
$9,200.00
$227.88
$7,477.88
E 220-46500-328 Marketing
$2,000.00
$0.00
$1,703.35
E 220-46500-331 Travel & Conference Expense
$0.00
$0.00
$561.66
E 220-46500-340 Advertising
$500.00
$0.00
$0.00
FUND 220 Lodging Tax
$14,700.00
$977.88
$14,992.89
FUND 225 DEED CDAP Grant
E 225-46500-300 Professional Services
$12,500.00
$0.00
$0.00
E 225-46500-340 Advertising
$0.00
$0.00
$0.00
FUND 225 DEED CDAP Grant
$12,500.00
$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
$100.00
$100.00
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
$10,000.00
$10,000.00
FUND 250 Revolving Loan Fund
$0.00
$10,100.00
$10,100.00
$193,410.00
$99,461.16
$161,505.55
75
Q
O rn
uq m
ra
r-
0
N
O
O W 7
T— LL w
U N a a
Ll
N
O
N
O
N
O
N
O Q
N
O
N
0)
O
N
0)
O
N
W
O
N
O O O O O O O O O O O
O O O O O O O O O O O O O O O O O
O
O
O
O O O O O O O O O O O
O O O O O O O O O O O O O O O O O
O
O
O
Ln O Ln 0 0 0 Ln O O O O
Ln O O O O O O O O O O O O O O O O
O
O
O
N l0 H+ m + N W M b+ tPr t+
M tPr tPr tPr tPr tPr tPr tPr tPr tPr tPr tPr tPr tPr tPr tPr tPr
M
b+
t+
tPr M tPr tPr tPr l0
HT
O
N tPr tPr tPr tPr
tPr tPr I� t4 tPr .�
01
tPr tPr
yr
yr
tPr
tPr
0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
o
O
O
O O O O O O O O O O O
O O O O O O O O O O O O O O O O O
O
O
O
Ln O O Ln Ln O O O Ln Ln Ln
O O O Ln 0 0 0 0 0 0 0 0 0 Ln O O O
O
O
O
O Ln .--i .--i Ln n m l0 W
W I, O T -b+ O O -b+ O O O Ln O m O O O
O
-b+
-b+
'Zt O Ln O � tPr N
.--i -b+ Ln � O O O n N N Ln .--i O
Ln
Ln
M .--i N N tPr tPr tPr Ln tPr tPr
tPr tPr .--i N .--i .--i V� .--i .--i V� Ln V+ I Ln
ti
tPr
M tPr tPr tPr tPr
tPr tPr tPr tPr tPr tPr tPr � .--i
N
HT
tPr tPr
.--i
tPr
--� O m M W O Ln M l0 m N
O O TN O N O O M O O M O O I, W O
Ln
O
O
I* O Ln W W N N O Ln I*
O O n N O .--i O O N O O l0 O O —! W O
N
O
O
01 O 01 — l0 — - W I, N
O O l0 O M O O W O O O O Ln O W O
I,
O
O
.ti t+ M 01 Ln W l0 .--i tPr I,
64 -b+ .--i N -b+ W -b+ -b+ I- tPr -b+ I- tPr m I, .--i tPr
Ln
tPr
-b+
'Zt l0 � Ln .ti -b+
-b+ l0 M Ln Ln N l0 l0
Ln
W tPr tPr ti tPr tPr ti tPr
tPr tPr tPr tPr Ln V+ M
HT tPr tPr
-b+ N
tPr
tPr
O O O O O O O O O O O
O O O O O O O O O O O O O O O O O
O
O
O
O O O O O O O O O O O
O O O O O O O O O O O O O O O O O
O
O
O
O O Ln Ln Ln O Ln O Ln Ln Ln
Ln O O Ln 0 0 0 0 0 0 0 0 0 Ln O O O
O
O
O
N Ln Ln n m— N W
.--i I, O 64 O O -b+ O O O Ln O m O O O
M
b+
t+
Ln Ln 01 i- O O tPr N
N -b+ Ln O O O N Ln .--i O
Ln
M N .--i tPr tPr tPr i0 tPr tPr
tPr tPr .--i N .--i .--i V� .--i .--i V� Ln V� Ln
Ln
M tPr tPr tPr tPr
tPr tPr tPr tPr tPr tPr tPr � .--i
N
tPr
tPr tPr
--�
tPr
I, O W N O l0 O M .--i M
.--i O W N Ln O O O Ln O O O l0 O O N
M
M
O O l0 M O M O O� l0 O N
O O l0 Ln l0 O O Oli: O O O N O O I* W
M
l0
l0
Ln O O m O N O" l0 Ln m
I, O n N N T O I, O O O O M O O 0) N
W
M
M
I, l0 T T tPr l0 O Ln W N M
N -b+ l0 T m I, 64 T .--i -b+ -b+ -b+ T O tPr I, Ln
N
Ln
Ln
W Ln 01 Ln M m l0 M HT N
.--i .--i N -b+ M N O M O Ln lzt
.--i
.--i
.--1
Ln V+ .--i .--i -b+ tPr tPr -b+
b+ tPr ti V+ O .--i V+ Ln l0
l0
I,
n
N -b+ -b+ -b+
-b+ O -b+ -b+ tPr N
I,
l0
l0
tPr
.--i tPr
tPr
.--i
tPr
tPr
tPr
O O O O O O O O O O O
O O O O O O O O O O O O O O O O O
O
O
O O O O O O O O O O O
O O O O O O O O O O O O O O O O O
O
O
Ln O Ln O O O O O Ln Ln O
Ln O O Ln O O O Ln Ln O O O O Ln O O O
Ln
O
N l0 N .--i -b+ O 01 i- .--i N
Ln b+ O M b+ O O N I, 0 0 0 0 0 0 0 0—
t+
M N � n O tPr N
.--i Ln 01 O O l0 i- O Ln N N Ln .--i O
I,
W Ln V� V�
V� V� V� N .--i W V� V� ti V� V� Ln Ln
O
N tPr tPr tPr tPr
tPr tPr I� t4 tPr .�
01
tPr tPr
N
tPr
tPr
m O N m— T O m T m l0
O I, W O T 0 0 I, O O l0 l0 O O O N
O
Ln O Ln � M W O Il M W W
l0 O N Ol O O� O O O� O O l0 M 0 0 0 Ln
01
O
. . . . . . . . .
W Ln O M O O N N N Io
. . . . . . . . .
O W O N� O N 0 0 0 Ln O O O
Ln
O
O N N t4 .--i O W II- M
m m
M tPr � M O l0 W tPr tPr tPr O M Ol tPr tPr N
T
M
tPr
r,
l0 Ln N I� � O1 N � t4 N
"
.--� Hi .--� O1 .-I l0 l0 00 t4 N 00
ko
—
0) V+ N .--i tPr tPr Ln tPr tPr
tPr ti ti tPr tPr tPr Ln W
Ln
N HT tPr tPr
tPr tPr M tPr tPr
01
tPr
tPr
tPr
O O O O O O O O O O O O O O O O O O O O O O O O O O O O O
O O O O O O O O O O O O O O O O O O O O O O O O O O O O O
O O Ln Ln O O O Ln O Ln O O O O Ln O O O O Ln O O O O Ln O O O Ln
Ln l0 Ln M HT l0 01 M N N N M uF O r� t4 O O t+ I,, O O O O 01 O O O N
O N 01 Ln M n M tPr N .--i Ln I, O O l0 O Ln Ln N Ln .--i O O
tPr tPr tPr tPr tPr -b+ tPr z -b+ tPr z tPr tPr tPr
N tPr tPr tPr tPr tPr tPr tPr tPr Ln
O V�
L
a -i
Q aci Ln
C:
o_c
aa) o +� w E
o c m E O U a� a a� v � o
a� O o w u a) c- c � � M 0
C > "p 7 '+� d a.:i >. C C d M m d a) N 0 a) a7 Ln >
a) a) m E o o c c UW m o w Q cn w o c 2 O E w a�
E Lu a� +� U U n m Ln i U Q a Un c c a� U 0) aa) cn o f
w o w o U U w m� Un m -LD awwi LL o o2S c6 � o
ami c m Q u Q ,u i 2 a� c E Q n3 i a� n a a c
w 0 W U a ami Un a°i aci w v° o o h o c' a6i o a� o ° -22 o 0 0 w w
Un o ii Q 2 2 Q D U 0 Un o w � U a Q Q U w
O O
O O O
C� .--i M .--i N M Ln O �--� N M .--i .--i O Ln O M S W .--i N W .--i O M N W N ko
LU C)O O N N N N M M M M M Ln n O �--� O O O O N N N M M W W N
C) .--i .--i .--i .--i .--i .--i .--i .--i .--i .--i r—' N N M M M M M M M M M MT Ln Ln l0 �
Ln O Q Q
d d
LU LU
Q Q Q
Z
D
LL
O
O
O
tFT
O
O
O
tFT
O O
O O
O O
tPr tPr
In c
a) =3
Cn LL
D
C) a� C
V O V
C O C
c
In c
w
(3) Ln a -
O O
O ~ O
O O
M M
O
12 12
LU LU
d d
Q Q
7!;; N
m
O W 7
T— LL w
U N a a
Lo
E
Q
W
C)
O
N
o
O 0)
-6
N O
ca
O
O
O
M
O
tPr
O
O
O
O
Lr
ti
Ln
N
r -I
tPr
N
Ln
Lr
tPr
O
O
O
M
Lr
Ln
N
r -I
tPr
r.
O�
00
N
ni
N
tPr
O
O
Ln
r.
O
0)
N
tPr
O�
Ln
M
r -I
Ln
O�
ts�
O
O
N
O�
tFT
O O O O O O O O O O O C
O O O O O O O O O O O C
O O O O O O O O O O O C
Hi Hi Hi Hi Hi Hi Hi Hi Hi Hi Hi t
O O O O O O O O O O O C
O O O O O O O O O O O C
0 0 0 0 0 0 0 0 0 0 m C
Hi Hi Hi Hi Hi Hi Hi Hi Hi l.n � t
r. HT
tPr
O O O O O O O O O O O C
O O O O O O O O O O O C
O O O O O O O O O O O C
Hi Hi Hi Hi Hi Hi Hi Hi Hi Hi Hi t
O O O O O O O O O O O C
O O O O O O O O O O O C
0 0 0 0 0 0 0 0 0 0 u1 C
Hi Hi Hi Hi Hi Hi Hi Hi Hi l.n t
r. HT
tPr
O O O O O O O O O O M c
O O O O O O O O O O o a
0 0 0 0 0 0 0 0 0 0 r: u
rn tsr r
tPr
O O O O O O O O O O O C
O O O O O O O O O O O C
0 0 0 0 0 0 0 0 0 0 m C
Hi Hi Hi Hi Hi Hi Hi Hi Hi l.n � t
r. HT
tPr
0 0 0 0 0 0 0 0 0 0 l0 C
O O O O O O O O O O M C
0 0 0 0 0 0 0 0 0 0 0) n
HT tPr tPr tPr tPr t+ tPr tPr W luT M C
M -b+ c
ti a
tsr n
O O O O O O O o 0 0 o c
O O O O O O O O O O O C
0 0 0 0 0 0 0 0 0 0 u1 C
Hi Hi Hi Hi Hi Hi Hi Hi Hi l.n � t
r. HT
tPr
1 0 O O O 0 0 0 0 C::)) 0 0 0 0
1 0 O O O 0 0 0 0 0 0 0 0
1 0 O O O 0 0 0 0 0 0 0 0 0
F fPr fPr fPr fPr fPr fPr fPr fPr fPr fPr fPr fPr fPr
I O O O O 0 0 0 0 0 0 0 0 0
I Ln O O Ln 0 0 0 0 0 0 0 0 0
F Ont t4 Hi Ont t4 Hi Hi Hi Hi Hi Hi Hi Hi
tPr tPr
1 0 O O O 0 0 0 0 0 0 0 0 0
1 0 O O O 0 0 0 0 0 0 0 0 0
1 0 O O O 0 0 0 0 0 0 0 0 0
F fPr fPr fPr fPr fPr fPr fPr fPr fPr fPr fPr fPr fPr
1 0O O O 0 0 0 0 0 0 0 0 0
1 0 O O O 0 0 0 0 0 0 0 0 0
I Ln O O Ln 0 0 0 0 0 0 0 0 0
F Ont t4 Hi Ont t4 Hi Hi Hi Hi Hi Hi Hi Hi
tPr tPr
O
O
O
-b+
O
O
O
-b+
O
O
O
tPr
O
O
O
-b+
i N
O
O
N
O O O O O M
O W
—
O
I r.
O
O
r.
O O O O O W
O l0
m
O
i M
6
6
ch
6 6 6 6 6 r.
O Ln
ch
6
M
tPr
t+
OCD
tPr tPr tPr t+
�
b4 Ln
O
m
. W
l0
I O
0a1
-I
N
O
N
N
O
V�
M
T
N
7
C
F tPr
T �
tPr
tPr
tPr
I O
O
O
O
0 0 0 0 0 0
0 0
0
O
I O
O
O
O
0 0 0 0 0 0
0 0
0
O
I Ln
O
O
Ln
0 0 0 0 0 0
0 0
0
O
f O�
t4
t4
O�
t4 t4 t4 t4 t4 t4
t4 t4
t4
t4
tPr
fa
Q
tPr
0-
Q
N
C C 7 V
I l0
O
C:)
l0
O O O O 01 l0
O 01
O
O
r.
O O O O r, M
O r.
01
I N
O
O
N
O O O O r. 0)
O r1
W
ko
t+
b+
M
-b+ -b+ -b+ -b+ 00 m
-b+u1
1 r'!
O
O
l0
I O
7
O
N
N
7
0 0 o O 0 0 0 0 0 0 0 0 0
1 0 O O O 0 0 0 0 0 0 0 0 0
I Ln O O u1 6 6 6 6 6 6 6 6 0
f O� t4 t4 O� t4 t4 t4 t4 t4 t4 t4 t4 t4
tPr tPr
O
O
O
-b+
O
O
O
tPr
O
O
7
N
7
C
T �
C
C
C
_0
E
CL O
Ln M
E
C
O LL
�'
E
O L
E
C
O W
Do-
C c
7
N
V 01
fa
Q
0-
Q
N
C C 7 V
fa
Q
O O
lL
v
COi
C '+�
N
O � L
O
O O
N
N
L
a=i
t2 a„
EO
C
fa N C
M
a..i
> C a -i
C
O
>
+_� '+� N
M
a..i
>
C a -i
Q
�
p
C
m O
O
E
p C O
C
N
cn
Q
p
a
E O
E
Q
C O
0
V
�'
U U
m
o
C V
o
V a +�
C
a
C
u
+, U
o
o
C
o
O C
U
"p N
H
7
O Q
C aO'
i
N
-
ff
O C N O
U
C
aO'
FL i
U
N
C
U
V
aO.i
H
N Q
C N (n
N
U
C N
U V
N
Q
C
N Ln
U
N
) O
-p
i
2:
U O 2
WI--C�
U
lL (
(n
O_ LL
O
Q
N
Q
`�
J
Q d Q
IWI--C�
Q
W O
O—
LOL
W O
(n
Lu
O_ LL O_
Q
Q I
W
W
O
.-I
O
r
O O
O
.--I
.--I
O
r
O
O
M
O
O O
O
M
O
O
O
W
� .--I
.--I N
M Ln
N
M
O _
O N
Ln OMj O
0)
W
W
Ln �--I
.--I N Ln O
O
W N
Ln
OMj O
C)
O
H.--I
N N
.--I .--I
N N
.--I .--I
M
.--I
M
.--I
M O O
.--I M M
N
M l0
N
� � r\
�
�
� O
F .--I
N N N O
.--I r -I r -I M
�
M
W N
Ln l0
N
r\
Ln
Q
Q Q
QLn
Ln
Q
Q
Q
—
d
d d
d
`""I
`""I
0_
d
d
LU
Q
LU LU
Q Q
LU
Q
LU
Q
LU
Q
LU
Q
Z
Z
Z
D
D
D
LL
LL
LL
7!;; �
m
O W 7
T— LL w
U N a a
\o
7 tPr tPr
CO
aCD CD
ON E O O
O O O
N Q
O Q 0 O O
N aw O O
OO_ O O
N O tFT tFT
E
Q
W
O
N
W
O
.) 0)
-0
N 0
O —
O Ln
6 N
M Ln
N l0
tPr �
tPr
aO
O
O
O
O 01
O W
b+ 00
N
M
tPr
O O O O O O O O O O O O O C) O O
O O O O O O O O O O O O O O O O
O O O O O O O O O O O O O O O O
tPr tPr tPr tPr tPr tPr tPr tPr tPr tPr tPr tFT tFT tFT tFT tFT
O O O O O O O O O O O O O
O O O O O O O O O O O O O
0 0 0 0 0 0 0 0 0 0 Ln0 Ln
HT tPr tPr tPr tPr tF -ull-ull -ull C) O
Ln fPr O Ln
b+
M M
tPr tPr
O O O O O O O O O O C) O O
O O O O O O O O O O C) O O
O O O O O O O O O O O O O
1fi fFi tFi fFi tFi fFi tFi fFi Ln t4 Hi Hi Ln
O� O�
tPr tPr
O O O O O O O O O O O O O
O O O O O O O O O O O O O
0 0 0 0 0 0 0 0 0 0 Ln O Ln
HT tPr tPr tPr tPr tPr tPr -b+ -b+ C) T C)
Ln 6Pr O Ln
V+
M M
tPr tPr
O O O O O O O O O C)
C) C) C) C) C) C) C) C) C) C) W Ln
0 0 0 6 6 6 6 6 6 6 I- N O
HT tPr tPr tPr tPr tPr tPr tPr 0) HT l0 I, M
0) U4 cc 01
V� W 0)
M M
tFT tFT
O O O O O O O O O O O O O
O O O O O O O O O O O O O
0 0 0 0 0 0 0 0 0 0 LnO Ln
HT tPr tPr tPr tPr tPr tPr tPr t+ C) O
Ln ,A_ O Ln
b+
M M
tPr tPr
C) C) C) C) C) C) 0 0 0 0 l0 T O
O O O O O O O O O O M N l0
0 0 0 0 0 0 C) C) C) C) 0) T M
b+ tPr tPr tPr tPr tPr tPr tPr 00 t4 m 00 CD
00 01
tPr M M
tPr tPr
C) O O
O O O
O O O
O O O
O O O
tPr t,, Ln
0)
tFT
O O O
O O O
-b+ -b+ T
Ln
M
tPr
O O M
O O Ln
O O O
tPr tPr M
O�
O�
M
tPr
C) O O
O O O
O
O
O
tFT
O O O O O O O O O O
O O O O O O O O O O
O O O O O O O O O O
b+ tPr tPr tPr tPr tPr tPr tPr tPr tPr
C) C) C) C) C) C) C) C) C) C)
O O O O O O O O O O
O O O O O O O O O O
b+ tPr tPr tPr tPr tPr tPr tPr tPr tPr
O O O O O O O O O O
O O O O O O O O O O
O O O O O O O O O O
ull tFT tFT tFT tFT tFT tFT tFT tFT tFT
O O O O O O O O O O
O O O O O O O O O O
O O O O O O O O O O
b+ tPr tPr tPr tPr tPr tPr tPr tPr tPr
O O O O O O O O O O
O O O O O O O O O O
O O O O O O O O O O
ull tFT tFT tFT tFT tFT tFT tFT tFT tFT
O O O O O O O O O O
O O O O O O O O O O
O O O O O O O O O O
b+ tPr tPr tPr tPr tPr tPr tPr tPr tPr
O O M m N M T W .--i O O O
O l0 —! M l0 Ln Ln l0 O O O
O M N M N O O Ln O O O O
b+ C) tPr tFT tFT tFT tFT tFT tFT tFT tFT
O� t4
M
M
tPr
O
O
O O O O O O O O O O O O O
O
O
O
O O O O O O O O O O
O
O
O O O O O O O O O O O O O
O
O
O
O O O O O O O O O O
O
O
0 0 6 6 0 0 0 0 0 0 Ln O Ln
O
O
Ln
6 6 6 6 6 6 6 6 6 6
tPr
tPr
tPr tPr tPr tPr tPr tPr UT tPr tPr O CD
tPr
-b+
T
-b+ -b+ -b+ -b+ -b+ -b+ -b+ -b+ -b+ -b+
O
Ln 6�V+
O
Q
M M
V
M
�.
tPr tPr
tPr
�.
O
O
Q
V
In
Q
C
T (n
C
Ln
C
T (n
0 C:
LnC
W
p_
'nLn E
a) �
�'
fa
j
Q
� Ln E
a)
O
C C 7
W
- C
a)
S1
O
O C
a)
V
a)
V
C) .
C
O
.a)
>
0 d�
C
O
i O C
M
N
>
a—
OO
C
.0
>
+' � d
3
0
i
i
v
i a)
M
C
n3
cn
0
O O
C
00
m "
E
D
C
O
0
O
+�
Ln
C
E
V
C a' U U
M
fa
C U
o)
a)
V
m —
C
m
C
E
i
u
C a..i U U
(n
(n
fa
C
LL
"00
N
O o -0 N
U
H
7
O Q
C
in m
E
W i
W
f0
fa
E
O C '0 N
U U
H
H
7
O
7
+�
+�
O a)
C
U r`o
V
f0
:
Ln o2S
�-0
Q
O
C
w
a) (n
a)
+'
+�
O N
C
O
V
L
m
—
O m
Q a)
C
+�
fa w -j
a)
W
O
L C
L
f0
O f0
Q a) _0
+�
a..i
fa w
a..i
O
W
V f0
W
W U N a)
Q
a)
Q
w
J
O2
Q
'O
u
W
+� f0
O
+�
O
a)
V F
W
W U N O
N
N
Q
w
J
to O
Q
C),
ti
,--i
M
O
d LUL
d Q
Q
O
O
C)
,--i
N
M
O
d
2
o_
N
N
N
OMj
W
W
kD .--i
.--i N M Ln
N
M
O �--�
O N
ko
00)j O
00)j
W
W
--i
�--i N M Ln
.--i
N
M
O
L
O
•--�
L
N N N N
•--� •--� •--� •--�
M
•--�
M
•--�
M O O
•--� M M
N
M l0
�
N
I�
�
� O
.--i
N N N N
•--� .--i •--� .--i
M
•--�
M
.--i
M
•--�
M O
.--i M
d
M
n
d
d
d
d
n
Ln
W
Ln
d
.--i
.--i
�--�
.--i
LU
Q
LU
Q
LU
Q
LU
Q
LU
Q
LU
Q
Z
Z
Z
Z
D
D
D
D
LL
LL
LL
LL
7!;; "T
m
O W 7
T- LL w
U N a a
Lo
E C NI O O O O O
O p 0� O O O O O
w -7
U m
C) -C
N +
O C
N
0) £
O d
0) U
CD C
O
N -S
W U
C
O Z
N _
O O O O O
O O O O O
O Ln O Ln Ln
O O T
Ln b4 O Ln Ln
tPr tPr tPr
O W N N
O I, W l0 l0
b4 l0 oo Ln Ln
b4 Ln l0 l0
O O O O O
O O O O O
O Ln O Ln Ln
O O
Ln fPr O Ln Ln
tPr tPr tPr
C:) l0 O
O M O
O m M
tPr M W
tPr O
tPr
O O O O O O O O O O O O O
O O O O O O O O O O O O O
O O O O O O O O O O O O O
ts+ ts+ ts+ ts+ ts+ ts+ ts+ ts+ ts+ ts+ ts+ ts+ ts+
0 0 0 0 0 0 0 0 0 0 0 0 0
O O O O O O O O O O O O O
0 0 0 0 0 0 0 0 0 0 Ln 0 Ln
b4 b4 b4 b4 b4 b4 b4 b4 b4 Ln � V� O�
tPr tPr
O O O O O O O O O O O
0 0 0 0 0 0 0 0 0 0 0
b4 tPr tPr tPr tPr tPr tPr tPr tPr tPr tPr M M
tPr tPr
O O O O O O O O O O O O O
O O O O O O O O O O O O O
0 0 0 0 0 0 0 0 0 0 Ln O Ln
b4 b4 b4 b4 b4 b4 b4 "A 0)
tPr tPr
0 0 0 0 0 0 0 0 0 0 W Ln
0 0 0 0 0 0 0 0 0 0 I, O W
b4 tPr tPr tPr tPr tPr tPr UT m b4 l0 M W
tPr tPr .--i
tPr
O O O O O O O O O O O O O
O O O O O O O O O O O O O
0 0 0 0 0 0 0 0 0 0 Ln O Ln
tPr tPr tPr tPr tPr tF tFT tFT tFT Ln tFT 01
tPr tPr
l0 l0 0 0 0 0 0 0 0 0 0 0 l0 N
l0 l0 O O O O O O O O O O M O
I, n 0 0 0 0 0 0 0 0 0 0 0 Ln
I, n b4 tFT tFT tFT tFT tFT tFT tFT W tFT M Ln
tPr tPr tPr
O O O
O O O
O O O
b<r yr b<r
O O O
O O O
O O Ln
ull tPr 01
n
tPr
O O
O O
tPr tPr M
tPr
O O O
O O O
O O Ln
tFT tPr 01
n
tPr
O O
O OW
tPr tPr W
tFT
O O O
O O O
� O�
n
tPr
W -
M 0�
Ln M
Ln V+
tFT
.--i 0)
0� N
tPr l0
tFT
OO O O CC
O O O O
O O O O C
b<rvrb<rvrb
0 0 o O C
O O O O C
O O O O C
O O O t+ C
O N O u
M 0) N {
tFT tFT tFT
O O Ln l0 C
O O M l0 C
O O M -; C
O Ln O ko b
Ln N n Ln
tPr tPr tPr
O O O O C
O O O O C
O O O O C
O O O tFT C
O N O u
M 0) N {
tFT tFT tFT
O O O O C
O O Ln O C
m Ln W O C
00 O ^ Vi b
tPr tPr tPr
O O O O C
O O O O C
O O O O C
b+ O t+ b+ b
tPr
OO O O O C O O O C
OO O O C
O . . . b
W
Ln
I -q
O O O O O O O O O O O O O O O O O O O O O O O O O C
O O O O O O O O O O O O O O O O O O O O O O O O O C
O Ln O Ln Ln 6 6 6 6 6 6 6 6 0 0 Ln O Ln O O Ln O O O O C
O T O T T b4 tPr tPr tPr tPr tPr tPr tPr tFT Ln t+ 0) b4 tFT 0) b4 tFT tFT tFT b
Ln b4 O Ln Ln I, n
tPr � � � tPr tPr tPr
tPr tPr tPr
O O
� O O
O O
� b<r yr
O O
O O
O O
� O O
i n n
tPr tPr
O O
i Ln Ln
O O
O� O�
tPr tPr
O O
O O
O O
� O O
i n n
tPr tPr
O O
Ln Ln
i N N
tPr tPr
O O
O O
F O O
F O O
tPr tPr
O O
� O O
F cc::))
O
F W W
Ln Ln
tFT tFT
O O
O O
� O O
F tPr tPr
0 0
0
0 O
N
ONC
O O
O
O O
O T
O
co
Ln -b+
O
Ln Ln
tPr
tPr tPr
a
ON E
O O
O
O O
O Q
N n
O O
V� tPr
O
tPr
O O
tPr tPr
C) -C
N +
O C
N
0) £
O d
0) U
CD C
O
N -S
W U
C
O Z
N _
O O O O O
O O O O O
O Ln O Ln Ln
O O T
Ln b4 O Ln Ln
tPr tPr tPr
O W N N
O I, W l0 l0
b4 l0 oo Ln Ln
b4 Ln l0 l0
O O O O O
O O O O O
O Ln O Ln Ln
O O
Ln fPr O Ln Ln
tPr tPr tPr
C:) l0 O
O M O
O m M
tPr M W
tPr O
tPr
O O O O O O O O O O O O O
O O O O O O O O O O O O O
O O O O O O O O O O O O O
ts+ ts+ ts+ ts+ ts+ ts+ ts+ ts+ ts+ ts+ ts+ ts+ ts+
0 0 0 0 0 0 0 0 0 0 0 0 0
O O O O O O O O O O O O O
0 0 0 0 0 0 0 0 0 0 Ln 0 Ln
b4 b4 b4 b4 b4 b4 b4 b4 b4 Ln � V� O�
tPr tPr
O O O O O O O O O O O
0 0 0 0 0 0 0 0 0 0 0
b4 tPr tPr tPr tPr tPr tPr tPr tPr tPr tPr M M
tPr tPr
O O O O O O O O O O O O O
O O O O O O O O O O O O O
0 0 0 0 0 0 0 0 0 0 Ln O Ln
b4 b4 b4 b4 b4 b4 b4 "A 0)
tPr tPr
0 0 0 0 0 0 0 0 0 0 W Ln
0 0 0 0 0 0 0 0 0 0 I, O W
b4 tPr tPr tPr tPr tPr tPr UT m b4 l0 M W
tPr tPr .--i
tPr
O O O O O O O O O O O O O
O O O O O O O O O O O O O
0 0 0 0 0 0 0 0 0 0 Ln O Ln
tPr tPr tPr tPr tPr tF tFT tFT tFT Ln tFT 01
tPr tPr
l0 l0 0 0 0 0 0 0 0 0 0 0 l0 N
l0 l0 O O O O O O O O O O M O
I, n 0 0 0 0 0 0 0 0 0 0 0 Ln
I, n b4 tFT tFT tFT tFT tFT tFT tFT W tFT M Ln
tPr tPr tPr
O O O
O O O
O O O
b<r yr b<r
O O O
O O O
O O Ln
ull tPr 01
n
tPr
O O
O O
tPr tPr M
tPr
O O O
O O O
O O Ln
tFT tPr 01
n
tPr
O O
O OW
tPr tPr W
tFT
O O O
O O O
� O�
n
tPr
W -
M 0�
Ln M
Ln V+
tFT
.--i 0)
0� N
tPr l0
tFT
OO O O CC
O O O O
O O O O C
b<rvrb<rvrb
0 0 o O C
O O O O C
O O O O C
O O O t+ C
O N O u
M 0) N {
tFT tFT tFT
O O Ln l0 C
O O M l0 C
O O M -; C
O Ln O ko b
Ln N n Ln
tPr tPr tPr
O O O O C
O O O O C
O O O O C
O O O tFT C
O N O u
M 0) N {
tFT tFT tFT
O O O O C
O O Ln O C
m Ln W O C
00 O ^ Vi b
tPr tPr tPr
O O O O C
O O O O C
O O O O C
b+ O t+ b+ b
tPr
OO O O O C O O O C
OO O O C
O . . . b
W
Ln
I -q
O O O O O O O O O O O O O O O O O O O O O O O O O C
O O O O O O O O O O O O O O O O O O O O O O O O O C
O Ln O Ln Ln 6 6 6 6 6 6 6 6 0 0 Ln O Ln O O Ln O O O O C
O T O T T b4 tPr tPr tPr tPr tPr tPr tPr tFT Ln t+ 0) b4 tFT 0) b4 tFT tFT tFT b
Ln b4 O Ln Ln I, n
tPr � � � tPr tPr tPr
tPr tPr tPr
O O
� O O
O O
� b<r yr
O O
O O
O O
� O O
i n n
tPr tPr
O O
i Ln Ln
O O
O� O�
tPr tPr
O O
O O
O O
� O O
i n n
tPr tPr
O O
Ln Ln
i N N
tPr tPr
O O
O O
F O O
F O O
tPr tPr
O O
� O O
F cc::))
O
F W W
Ln Ln
tFT tFT
O O
O O
� O O
F tPr tPr
O
O
N
V
(n
O
Q
N
V
In
O
Q
C
N
N
-
a -i
CL
N
N
N
O C
Ln N
N
to
N
W
C
C E O
V V
Ln
D
V
C
m
T
p
C LU
N
C a=i
m
D_
0)
p
N
C
C >
Q
>
O O L a=i
C
O C
C
>
C a..i
C
_
Q
> N
7 N
>
o�
0
0
p
o
0
0
N o
0
V
V
N
7
V
a.:i U U
(n
f0
C o
H C V
a'
V
� p
7
F"
V C
7 U
V
C
Q .m
N
m E
f°
m
E m
C
O o oLn
m
p a
C N
m M
E
C i
W
C
W
m
E L
0�
CO � o2S
C
m
E
NQ
C
C
U U V
�
Q
C
N
N
p
C
p N
E
C
-6 >
O
N
00
>`
O
aO.i
C
i -Ci
-
>
OV
>'
pV
>
OV
P W
m
W -Fu
Lu U N
N
yOi O
L\L
W
a�..i i
O
a�..i
O
m
fx0
FT
W O
�_ f0 i
w
FT
Q Q
O
N
M
cn
O
a LL 0
0
J
0 a Q
Q
O
O
O
M
CT
O
> �
Q
O
CT
--� O
O
N S
N
N
O
� .--i
.--i N M Ln
N
M
O �--�
O N
O
O
OM) O
O
OMj
N
C_
O
O
01 W �--�
O
O
Ln
C_
CT
O
r1iW
W
O
N N N Nm
M
M O O
N
N
W
O
O N M
M
•--�
•--� •--� •--� •--�
•--�
•--�
•--� M M
M l0
n
J
M
M M M
M
J
Q
Ln
Ln
Q
Q
Q
Q
Ln
N
Q
Q
N
CL
•--�
.--i
CL
CL
CL
CL
.--i
N
CL
CL
N
0
LU
0
LU
0
LU
0
LU
0
LU
0
Lu
0
Z
Z
Z
Z
Z
D
D
D
D
D
LL
LL
LL
LL
LL
7!;; Ln
m
O W 7
LL w
U N a a
\o
a
N
O
N �
O
N i
O
N
O O O
O
0 0 0 0 0
0
O
O
O O O
O
0 0 0 0 0
0
O
O
O O O
O
0 0 0 0 0
0
O
O
tPr tPr tPr
tPr
tPr tPr tPr tPr tPr
tPr
tPr
M
0 0 0 0 0
0
tPr tPr
tPr
°i a
E
0
CD CD CD
O O O
CD
O
O Q
N
n O�
O O O
O
V� •--�N
Ln -b+ Ln
Ln
Ln
ts�
O O O
O
0 0 0 0 0
0
O
O
O O O
O
0 0 0 0 0
0
O
O
O O O
O
0 0 0 0 0
0
O
O
O tPr O
O
t+ tPr tPr tPr tPr
tPr
t+
W
Ln Ln
Ln
[0
Ln Ln
M
N N
N
N N
N
0
Oi
tPr tPr
tPr
O -!
O Ln O O O
Ln
Ln N
HT tPr
tPr
M Ln
tFT
tFT
.--I
Ln
tPr
O O O
O
0 0 0 0 0
0
O
O
O O O
O
0 0 0 0 0
0
O
O O O
Uf fFi tFi
O
fFi
0 0 0 0 0
tFi fFi tFi fFi tFi
0
fFi
O
tFi
0)
Ln
ON Q
0
O O
0 0 0 0 0
N
O O
O O O
O
O
NCL
tPr tPr tPr tPr tPr
O O O
O
O
O -b+ O
O
QLn
O�
Ln
Ln
tPr
0 0 0 0 0
N N
N
0 0 0 0 0
0
tPr tPr
tPr
°i a
E
O Ln
CD CD CD
O O O
CD
O
O Q
N
n O�
O O O
O
V� •--�N
Ln -b+ Ln
Ln
Ln
Ln l0
n n
n
tPr �
W W
W
0 0 0 0 0
0
b+ tPr
t+
a
O O
�
O O O
O
ON O
O O O
O
7
n
OS O
O
[0
Ln Ln
Ln
N N
N
0
O 0)
tPr tPr
tPr
O O O O
O O O O
O
Ln W M M
n yr o 0
tPr tPr tPr
O O O O
O O O O
O O O O
tPr tPr tPr tPr
Ln
Ln
b+
0 0 0 0 0
0
O O
0 0 0 0 0
0
O O
0 0 0 0 0
0
O O
tPr tPr tPr tPr tPr
tPr
tPr r -I
M
O�
tPr
0 0 0 0 0
0
O W
0 0 0 0 0
0
O W
O Ln O O Ln
O
O Ln
tPr M tPr tPr n
.-I
.--I l0
n O�
n
n l0
V� •--�N
N .--i
Ln
Ln
Ln l0
tPr
tPr
tPr �
tPr
0 0 0 0 0
0
O O
0 0 0 0 0
0
O O
�
O�
O�
n
Ln
M
tPr
0 0 0 0 0
0
O 0)
0 0 0 0 0
0
O -!
O Ln O O O
Ln
Ln N
b+ M b+ tPr tF
M
M Ln
tFT
tFT
tFT Ln
Ln
0 0 0 0 0 O O
cc:) 0 0 0 0 0 O O
0 0 0 0 0 0 O Ln
HT tPr tPr tPr tPr tFT tFT O
O O
C: c �
EE
dv d v O
N L N N L N d N
N M N N M LL m N
O
E LL
0 E LL E L a°�i o c_ E
(n C (n LL w C) C
C C (D O C � w > C m
OV p > OV D_ J OV 0 61 L 'E O> OV J
Q LU D- Q LU Q LU a J O U� LU 01
C C
U o o U > o o >
QLU � o o ko LU >> � o n Ln ' o
LU O M LU (3) O O M m �
Ln . � Ln O O
N r1i rJ Ln Ln
d d N N d dLU LU LU Lu
N
Z Q Q Z Z Q Q Z
D D D D
LL LL LL LL
t
'I N
a '
b a N
O0 ++ O
7 C N
O i
41
t (7
Q00
r -I
O r -I
O m
r -I
a)
0) O
M Mo c
m N
N
M
O
O
01
U
N
00
I-� M
O
O
Ol
00
00
M
N n
�
01
Ln
O
L00n
r,
m
N N
m
N
r -I 00
O
N
N
00
r -I
N
N
ri
M
I,
rI
O
O
O
O
um
C
I`
O
O
N 4,
C
O
M
M
W
N
n
i N
l0
Ln
Ln
Ql
N
N
0 N N
L
w
N
N
OC
m
O
r -I
t
'I N
a '
b a N
O0 ++ O
7 C N
O i
41
t (7
Q00
a
LLI
C
f6
},
m
�
N m
0) O
M Mo c
m N
O
O
O
O
O 1
O
O
O
O
O
O
O
i0
r -I
cn
OJ
,q
NN
01
L00n
m
m
a
Et
E
C
W
N
�
00
M
Ln
M
LnLn
N
3
-q
L
\ m
L
um
C
00
Ln
Ln
Q.
0
O1
r -I •N
N
N
Ql
Ql
0Nj
L
Lu
w
E
\ a
OC
m
a -I
fp
C
U
r'I
Q
E
CL
E
f6
oU
O1
O
V
I?
N
-a
01
O
O
OC
m
N
3
a
Q
.-, .-,
L.L
0
C C
Iy
41
0) 0)
i
w
E E
a,
E
Q Q
C
CL
O O
OJ
L a
0) 0)
L
C C
C
O
U
m m
r
N N
41U
01
�
r
r r
•°
�
a
a a
CL
Z
D
D D
W
W W
w
co
co co
0
LO
LO LO
V1
0
1 1
0 0
41
o
0 0
C
LO
LO LO
O
I
a
o
0 0
LO
LO LO
N
4,
U
c
Q
U
o
a,
E
LU
p
t
J
a
~
w
0
0 L
OF--
O
W
W �
a
CVB 2020 Financial Summary
As of July 31, 2020
Beginning Fund Balance 1-1-20 $ 34,785.11
Customer
YTD Rev
2020
Interest Earnings
$
651.03
T-shirt Sales
$
-
Beanie Hat Sales
$
-
Fireworks Donations
$
5,000.00
Rodeway Inn Lodging Tax
$
2,234.79
CSB Lodging Tax
$
-
Estates B&B Lodging Tax
$
252.34
$
8,138.16
YTD Exp
Vendor
2020
Bruno Press - social media campaign
$
5,250.00
Explore Minnesota Conference
$
561.66
Rubinski Works - Videos
$
2,250.00
Website Hosting
$
1,703.35
Res Pyro - Fireworks
$
5,227.88
Think Tourism USA - Magazine Ad
$
-
Minnesota Public Radio Ad
$
-
87 Lumens - Event Photos
$
-
Krillan, Inc. -T-shirts
$
-
Krillan, Inc. - Beanie Hats
$
-
Newcomer Service - Magazine Ad
$
-
C 1 A QQ-) QQ
Ending Cash Balance 7-31-20 $ 27,930.38
,WLLAMM& EDA Agenda Item 5
CITY OF ST..IOSLPH
MEETING DATE: August 18, 2020
AGENDA ITEM: Revolving Loan Request- MN Street Market
SUBMITTED BY: Community Development/Finance
STAFF RECOMMENDATION: The Finance Committee recommends approval of issuance of the loan.
PREVIOUS BOARD ACTION:
BACKGROUND INFORMATION: MN Street Market is a member -owned cooperative with a
Board of Directors that opened in 2011 with 229 members, and 27 student members. Currently, they have
about 500 active members. Pia Lopez, Manager of St. Joseph Food Cooperative/Minnesota Street Market
has requested a loan from the City's Revolving Loan Fund for a 16 -foot long produce cooler, 4 -foot grab
and go cooler, installation of the coolers, and relocation of an existing deli cooler and condenser unit. The
purpose of the loan is to replace an existing 1994 cooler that has major annual repair expenses and replace
a smaller grab and go cooler that they retired a couple of years ago.
The estimated project costs are $30,000. The applicant has requested a loan in the amount of $25,000 for
a term of 10 years at a 0% interest rate. The proposed collateral is as follows:
New equipment: $12,000
Existing office equipment: $15,700
Existing store equipment: $74,000
Inventory: June 30 Cost Valuation = $45,984 (Suggested Retail Price Valuation = $75,063)
The Finance Committee has reviewed the loan application and is recommending approval of a $25,000
loan for a term of seven years at a 3% interest rate. The terms are consistent with other loans issued by the
City.
BUDGET/FISCAL IMPACT:
ATTACHMENTS:
$25,000 RLF Loan
Quote for costs of equipment
MN Street Market Business Plan
REQUESTED BOARD ACTION: Approve a loan in the amount of $25,000 from the Revolving Loan
Fund for a term of 7 years at a 3% interest rate.
'ja K APPLICATION FOR REVOLVING LOAN FUND
CITY OF ST. JOSEPH
APPLICANT AND PROPERTY OWNER INFORMATION:
Applicant Pia Lopez, General Manager, Minnesota Street Market
Phone: 320-309-4630
Email: generalmanager@mnstreetmarket.com
Mailing Address:. PO Box 397, St. Joseph MN 56374
Property Owner: Stacie Stone
PROJECT INFORMATION:
Business Name: St. Joseph Food Cooperative dba Minnesota Street Market
Business Address: 27 West Minnesota St, St. Joseph MN 56374
Business Phone: 320-363-7733
Cell: 320-309-4630
Principal(s) of Business: Member -owned cooperative with board of directors
State ID #: Fed ID #:
Business is a: Proprietorship
Partnership
Corporation Date of Incorporation
_X_ Cooperative Association (formed under MN Chapter 308B)
Type of Business: Grocery (food & art cooperative)
27 West Minnesota Street
Present location:
Owned X Rented
Proposed Location (if different from above):
3,336 sq ft retail space;
Sq. ft. of present building: 5,452 sq ft total rented
space including kitchen
and storage
Owned Rented Sq. ft. of present building:
City of St. Joseph — Revolving Loan Fund Program Application Page 1
Type of project:
Construction/New Business
X Equipment/Machinery/Fixture
Other:
Expanding/Existing Business
Remodel/Commercial/Retail/Ind.
Describe Project:
Project: Purchase and install two new coolers.
A Produce Cooler (1 6ft L x 6ft H) and a small Grab -and -Go Cooler (2ft L x 5ft H).
-We have increasing repair costs for our existing 1994 Produce Cooler. We seek to retire that
cooler and replace it.
-We also seek to replace a cooler that was retired and removed from the building two years
ago. The company had gone out of business 30 years ago and getting replacement parts was
near -impossible. We have not yet replaced that cooler.
Other: The cost of this project will involve moving our Deli Cooler (8ft L x 6ft H) four feet to
make room for a new 16ft Produce Cooler.
It also involves moving a condensing unit located at ground level on the west side of the
building to the roof. [That unit is too close to the building, not allowing proper air flow, causing
repair problems. The property line does not allow for moving the unit further from the building.]
See attached for more in-depth description.
Estimated Project Costs: Proposed Financing:
Land: $ Source Terms/Interest Amount
Site Improvement: $
Construction/Rehab: $
Machinery/Equip.: $ See attached
Bldg.: $
Other (Specify): $ See attached
TOTAL: $ $30,000
Bank
Equity
Other -describe See attached
City See attached
TOTAL: $ $25,000 See attached
Describe of collateral available to secure loan, including market value and prior liens:
Collateral
-New equipment: Approximately $12,000
-Existing office equipment: $15,700
-Existing store equipment: $74,000
-Inventory: June 30 Cost Valuation = $45,984 (Suggested Retail Price Valuation = $75,063).
Prior liens: Stearns Electric (owe $28,497 on 7 -year loan originated Aug 2018)
City of St. Joseph — Revolving Loan Fund Program Application Page 2
Purpose of loan:
Replace 1994 Produce Cooler: Aim is to reduce a major annual repair expense and save on
utility costs through improved efficiency. Local, in -season, natural, organic produce is a key -
nichc for us ir; a highly competitive grocery marketplace. We have an exper1Pnced Produce
Coordinator who makes our produce shine. We see this project as a good opportunity to set _
the store up to grow sales in the future.
Replace a retired cooler with a small Grab -and -Go Cooler: Aim is to have a small front -of- _
store display case to take advantage of consumer interest in natural, convenient options.
Drinks, and pre-packaged, ready -to -eat soups, salads, wraps and sandwiches attractively
presented — with reduced energy consumption.
Amount requested: $$25,000
Terms requested: $ 0% interest, 10 years
Present number of full-time employees: 0 (811 employees are p8rt91
Anticipated jobs created or retained within twelve (12) months of project completion:
See attached
If redevelopment: estimate market value of the subject parcel(s) prior to project and estimated
market value following project completion.
EMV Present:
EMV Post Project Completion:
Attach and include the following if requested:
X A. Written Business Plan Narrative
• Description of Business
• Ownership
City of St. Joseph – Revolving Loan Fund Program Application Page 3
• Date established
• Products/Services
• Management
• Future plans
B. Financial statements for the past two (2) years
C. Financial projects for three (3) years
D. Resume of all principals
E. Personal financial statements of proprietor, partners, guarantors
F. Letter of commitment for applicant pledging to complete during the proposed project
duration
G. Letter of commitment from other sources of financing, stating terms and conditions of
their participation in project
X H. Written quotes from contractors and vendors for all cost estimates listed above
I. Site plan for new construction
J. Authorization for release of information
K. Other:
L. Other:
M. Fee: (1% of amount of loan request)
Attach an explanation if any answer to the following is yes:
1. Have you or any officer or owner of your company ever been involved in bankruptcy or
insolvency proceedings?
Yes x No
City of St. Joseph — Revolving Loan Fund Program Application Page 4
2. Are you or any officer or owner of your business involved in any pending lawsuits or
judgments?
Yes X No
3. Does your business have any subsidiaries or affiliates? (INCLUDE: financial statements with
explanations as requested)
Yes X N
4. Do you buy from, sell to, or use the services of any concern in which someone in your
company itself has a significant financial interest?
Yes X No
To the best of my knowledge, the information provided in this application is true and
correct.
fltA�Date: July 15, 2020
Applicant Signature
Date:
Owner(s) Signature
NOTE. If this application is for leasehold improvement, the owners(s) of the building must
also sign this application.
Submit application to:
St. Joseph Government Center
75 Callaway St. E
St. Joseph, MN 56374
City of St. Joseph — Revolving Loan Fund Program Application Page 5
Minnesota Street Market. ESTIMATED PROJECT COSTS
Estimated Project Costs
Description
Quantity
Estimated Cost
Cost Total
Hill Phoenix Model OHP 2 -deck,
1
$9,957.00
$9,957.00
16 -foot long wet produce case
Installation
1
$7,295.00
$7,295.00
Move Grab -and -Go Deli Cooler 4
1
$7,836.00
$7,836.00
feet to accommodate new 16 -foot
Produce Cooler. Move
condensing unit to roof.
Refrigerated Merchandiser
1
$1993.00
$1993.00
Freight
1
$2,100.00
$2,100.00
TOTAL
$29,181.00
Other/Contingency
$819.00
$819.00
TOTAL
$30,000.00
See also next 3 gages: St. Cloud Refrigeration quote for project cost.
We have added $819 for other costs/contingency.
TOTAL PROJECT COST. $30,000
Project:
Minnesota Street Market
Att: Pia Lopez
genera lmanager@ mnstreetma rket.
com
27 West Minnesota Street
St. Joseph, MN 56374
Job Reference Number: 2858
Quote
From:
SCR
Todd Lambrecht
604 Lincoln Avenue NE
St. Cloud, MN 56304
320-258-5122 (Contact)
07/15/2020
Item Qty Description Sell Sell Total
1 1 ea 2 DECK PRODUCE $9,957.00 $9,957.00
Custom Model No. OPH
Hill Phoenix Model OHP 2 deck wet produce, 16'-0" long, 2 - 8' units,
high multi -deck product, Synerg-E DX, 120 volt, 16' of 27" front sill,
square left and right ends, PVC -trim, painted/bright stainless, 16' of
black full master bumper, vented black PVC kickplate, front baffle
spray hose, quick disconnect, right hand mount, 15' spray nozzle, 16' of
05DMH 13" mirror with scoop, 16' of telescopic wire rack, black, no lip
or tag molding, 4 solid shelves, 16" x 48", custom color, 0/17 degree
with shelf tag molding, slotted, 4 - 4' clear plexiglass shelf product
stops, 2 rows cornice LED light rods, bright ss, clearvoyant LED lights
1 ea INSTALLATION
ITEM TOTAL: $9,957.00
$7,295.00 $7,295.00
Custom Model No. INSTALLATION
Installation: Re -using existing line set and condensing unit located on
the back roof. Disconnect old case and remove. Hook up and start up
the new case. Add condensate pump and drain hose back to the
kitchen
4 1 ea RELOCATE
ITEM TOTAL: $7,295.00
$7,836.00 $7,836.00
Custom Model No. RELOCATE
Relocate Grab & Go condensing unit to roof. Disconnect and move
Grab & Go case from current location, pipe line set from kitchen area
to roof over walk in cooler. Remove existing air handler and set
condensing unit for Grab & Go in it's place. Start case. Craning unit to
roof included. Re -using existing line set in store area.
ITEM TOTAL: $7,836.00
NOTE
NOTE: ELECTRICAL WIRING BY OTHERS
6 1 ea REFRIGERATED MERCHANDISER $1,993.00 $1,993.00
Initial:
Minnesota Street Market Page 1 of 3
SCR
Item Qty
Description
True Manufacturing Co., Inc. Model No. GDM-I2-HC—TSL01
Refrigerated Merchandiser, one -section, True standard look version
01, (3) shelves, (1) Low -E thermal glass hinged door, LED interior lights,
powder coated steel exterior, white interior with stainless steel floor,
R290 Hydrocarbon refrigerant, 1/6 HP, 115v/60/1 -ph, 2.0 amps, NEMA
5-15P, (depth does not include 1" for rear bumpers), cULus, UL EPH
Classified, Made in USA
1 ea
NOTE: Commonly stocked model in black exterior, and white exterior;
verify availability with factory
lea
Self-contained refrigeration standard
lea
Warranty - i year compressor (self-contained only), please visit
www.Truemfg.com for specifics (updated warranty sheet pending
from True)
1 ea
Warranty - 3 year parts and labor, please visit www.Truemfg.com for
specifics
1 ea
Door hinged right standard
1 ea
Exterior: Black powder coated steel, standard
lea
Interior: White aluminum, standard
1 ea
Decal: 5 -TS -01 "TRUE Stripe" graphic, standard
8 1 ea FREIGHT
Custom Model No. FREIGHT
Freight for produce case
Tota I
07/15/2020
Sell Sell Total
ITEM TOTAL: $1,993.00
$2,100.00 $2,100.00
ITEM TOTAL: $2,100.00
Unless noted sales tax, freight and installation are not included.
SCR Quote Declarations
The above quoted prices do not include:
* Electrical wiring * Control wiring
* Plumbing * Roof work and penetrations
* Structural work * Roof flashing
* Permits * Premium time
* Tax * Engineered Drawings
* Equipment Disposal * Floor cutting & patching
* Refrigeration under floor * PVC, pits and trenching
* Freight * Normal cleaning & maintenance
* 4 year extended compressor warranties - quoted separately
Date: Initial:
Warranty Statement
In all cases, unless otherwise noted, equipment manufacturer's warranties will apply and be honored by SCR
and it is the customer's responsibility to be aware of warranty time periods and start dates. Food product is
the customer's responsibility and is not covered under any warranty.
• New equipment:_90 days Labor _1 year Parts
Per manufacturer - typical 1 year parts
• Refurbished equipment: Labor Parts
• Existing and owner provided equipment - No warranty
$29,181.00
Initial:
Minnesota Street Market Page 2 of 3
010
• 90 day SCR warranty on LED labor, 5 yr. Innovative Lighting manufacturer's warranty on parts
Notes:
- Electrical information or plan is not an engineered design, it is provided in good faith and is for electrical
contractor to design, not for bidding or building purposes
- Lost product/business due to any refrigeration malfunction is the owner"s responsibility as temp checks
are owner's responsibility.
- Installation prices can vary depending upon what equipment is purchased.
- Any alteration or deviation from above specifications involving extra costs will be above the estimate.
- Installation is also dependent upon contractor being ready at job site upon our arrival. This correlates
closely with electricians, plumbers, and carpenters.
- All work to be completed in a workmanlike manner according to standard practices.
- This agreement is contingent upon accidents or delays beyond our control.
- Owner is to carry necessary construction insurance.
All manufacturers have strict guidelines on how to operate and maintain their equipment. It is very important
the owner/operator familiarizes themselves with the manufacturer's owner's manuals that are provided with
the equipment when delivered. If the owner/operator need s additional information or is unclear on use of
equipment SCR will assist with this or provide additional training. Manufacturer's warranties will be'void if
owner/operator use equipment in a manner that is inconsistent with operation manual. When dealing with
equipment that is not serviced by SCR, it is up to the owner/operator to contact manufacturer to get an
approved service agent for equipment in question. Warranty claims need to be handled between end user
and manufacturer for proper coverage of warranty. SCR is not responsible for manufacturer warranty
policies.
*All freight delivered to site must be checked in by owner or owner"s representative. Any damage must be
noted on the bill of lading. After receipt all equipment becomes the owner"s full responsibility.
*By accepting this proposal, owner accepts financial liability for engineering, drawings, cancellation fees
and any other costs incurred in the project process.
*Pricing is valid for 30 days from date of quote.
Sincerely,
SCR
Todd Lambrecht
Todd Lambrecht
TL/km
Note: Payment will be made as follows: 50% down 150% upon delivery
Acceptance: Date:
Printed Name:
Project Grand Total: $29,181.00
07/15/2020
Initial:
Minnesota Street Market Page 3 of 3
Minnesota Street Market. PROPOSED FINANCING FOR COOLER PROJECT
Raised Jan 1 -Jun 30
New Members (Regular): 26
$2,600
New Members (Student): 4
$80
Member Loans: 1
$1000
Member C -Shares
$2000
Sale of COVID Masks (Donation by
$612
MaryAnn Friedrichs)
Sale of St. John's Abbey Adirondack
$5200
Chairs
Donations/Register Round -up Donations
$1011
TOTAL
$12503
Repairs to coolers: SCR
Date
Cost
Compressor not pumping. Replaced.
4/18
$3,343.79
Bad condenser fan motor. Replaced.
4/28
$533.42
Drain line plugged. Blew out drain line.
5/22
$334.00
Fans not running. Replaced pressure
6/2
$414.93
switch. Fixed leaky Shrader valve. Added
refrigerant.
Fans not running. Too much
6/8
$0.00
refrigerant which was causing "stripping on
high head pressure." Technician took out
2lbs of refrigerant. No charge to fix.
TOTAL
$4626.14
INVENTORY SPENDING January February March April May June
Total Inventory Spending $24517.07 $23683.27 $28809.62 $39945.82 $31135.69 $40676.53
Total Sales (includes Consignment & $30339.00 $32759.00 $53441.00 $49197.00 $64071.00 $51523.00
May Consignment plant sale)
We have been raising and setting aside funds for the Cooler Replacement Project: $12,500 since
January.
However, a lot of what we have raised has had to be transferred to some unanticipated costs:
-Cooler Repairs: More than $4,600
-COVID-19 Related Inventory Costs: More than $8,000. As an essential food business, we have seen
increased sales since the pandemic began. But we have had to spend a lot upfront to boost our
Inventory (and to spend on pandemic -related items, such as Plexiglass shield, disinfectant, disposable
masks and gloves for customers, etc).
Bottom line: The $12,500 we hoped to put toward this project is now $5.000.
We are asking for $25,000 from the City of St. Joseph Revolving Loan Fund.
Minnesota Street Market. ANTICIPATED JOBS 2020
Anticipated jobs created or retained within 12 months of Project Completion
Position Name
Total # of Jobs
Weekly hours
Current Annual
Anticipated Hiring Date
Hours/Job
General Manager
1
20
1040
Existing employee
Purchasing Manager
1
30
1560
Existing employee
Produce Coordinator
1
30
1560
Existing employee
Data Entry/Cashier
1
20
1040
Existing employee
Produce Assistant/Cashier
1
4
208
Existing employee
r
j Cashier
1
4
208
Existing employee
Student Workers
3
17
884
Existing employees
Display/Merchandiser Coordinator
1
5
260
Existing employee
10
The table shows existing jobs for 2020.
With project completion. we would hope to increase invento , sales and work hours:
-Increase General Manager hours to 30/hours/week (from 20/hours/week). That would be 1560
hours/year.
-increase Data Entry/Cashier position hours to 30/hours/week (from 20/hours/week), adding
responsibilities. That would be 1560 hours/year.
We would expect to have a total of 10 employees — perhaps 12.
BUSINESS PLAN
Description of Business: Food & Art Cooperative
A locally owned, independent grocery store. Buying from local growers and suppliers.
Supplying natural, healthy foods. Providing art and crafted goods from local artisans.
Ownership
We are a cooperative association under Minnesota Statutes Chapter 308B.
Individuals and organizations become member -owners by buying $100 worth of voting
stock on a "one member, one vote" basis.
The member -owners elect a Board of Directors, which must be "no less than five (5)
and no more than twenty (20)" according to the bylaws.
Our Member -Owners
We began in 2011 with 229 paid member -owners ($100 equity owners)
and 27 student members ($20 student non- equity members).
As of the end of 2019, we had 604 paid member -owners ($100 equity owners) and 144
student members ($20 student non- equity members).
As a college community, however, we do have regular turnover in student members --
and some turnover in faculty. Currentlym we have about 500 active members.
800
600
400
200
Regular Cumulative Student Cumulative
144
2011 2012 2013 2014 2015 2016 2017 2018 2019
Date Established: July 2011
We have all seen headlines like these: "Another small-town Minnesota grocery store
calls it quits." In St. Joseph, we were one of those headlines in 2010: "Longtime St.
Joseph grocery store to close."
The Minnesota Street Market (St. Joseph Food and Art Cooperative) came about after
Loso's Grocery Store, owned and operated by the Loso family from 1899 and located
on St. Joseph's historic main street, closed in 2010.
The community came together and re -opened the store in July 2011 as a cooperative,
with area residents putting up $100 each to become member -owners. Many also put
forward funds for a capital campaign: St. John's Abbey, College of St. Benedict, the
Sisters of the Order of St. Benedict, local businesses and individuals. The City of St.
Joseph loaned funds.
Products/Services
We provide locally sourced bread, cheese, eggs, flour, honey, maple syrup, meat and
poultry, milk, vegetables, soaps, candles and more from dozens of small local growers
and artisans. We provide natural and organic food and grocery items.
Other: The Minnesota Street Market also is a locus of community.
We reach out to the community with events ranging from seed -shares and how-to
sessions to documentaries to "Meet the Producer" and food sampling events. These
have been put on hold since mid-March due to the COVID-19 pandemic.
We provide food to the St. Joseph Food Shelf.
We order organic produce for the Local Blend coffee shop.
Management
See organizational chart and current board of directors.
U
4-1
U
rn
r-4
Cd
9
.O
4-0
Cd
u
N
M
d
,44
A
Minnesota Street Market. Board of Directors. January 2020.
Bylaws: "The number of directors of this association shall be no less that five (5) and no more
than twenty (20), each of whom shall be a member of the association."
Term: 3 years
( Name of Director
Position
Occupation
Date Nominated
Jim Degiovanni
President
Retired Attorney/Farmer
May 2016
j Corrie Grosse
Vice President
University Teacher
+ May 2018
Patricia Weishaar
Secretary
University Administrator
May 2015
Theresa Johnson
Director
Retired university
May 2015
department coordinator
IJohn Merkle
Director
University Teacher
May 2017
Rachel Brodeur
Director
University Sustainability
May 2019
Coordinator
Ray Sjogren
Director
Social Worker
May 2018
Grant Stromgren
Director
Information Technology
May 2017
Specialist
Lisa Lindgren
Director
Retired Business
May 2018
Professor
Kathy Doyle
Director
Bookkeeper, Local
May 2018
Small Business
Derik Weldon
Director
Physician
May 2018
j Danee Voss
Director
College Student
May 2018
Brigid Mark
Director
College Student
May 2018
L_ _- ---
Changes to Minnesota Street Market Board of Directors over the past year.
Elissa Brown, CSB/SJU University Sustainability Coordinator, moved to another job. Replaced
by Rachel Brodeur, the new University Sustainability Coordinator.
Pia Lopez, who was Board President, was hired January 2020 as the Minnesota Street Market
General Manager. She resigned from the Board. Jim Degiovanni was elected president.
Board of Directors and management: We have a strong, committed and engaged board of
directors that works well as a team. This is a board that is committed to the success of the co-op
— as shown in volunteerism beyond monthly board meetings and in contributing financially to the
well-being of the cooperative. All are among our top shoppers. All but the two student board
members have invested in $1,000 C -Shares or made donations of $500 or more. This team has
the fiscal and administrative capability to deliver results — to grow sales and net income.
Future Plans
A consultant in January 2019 told us: "With the facility you have, reaching $1,000,000
in annual sales is very achievable. But you'll have to buy enough to sell to get there. It's
not too early to start thinking about what working at a million -dollar store will be like."
That is our aim.
Finances
Our 10 -Year Pro -Forma done by CDS Consulting in 2011 projected that we would have
negative net income in our first five years, then break even, then have positive net
income.
As with many food co-ops, and the grocery industry generally, we had a dip in
sales in 2016 and 2017.
We took the opportunity during this major disruption nationally in the grocery industry
to refocus on our niche (fresh, local convenience with a distinctive offer of food and art
on a historic small town main street).
We reined in expenses and worked on growing sales.
In 2017, we had a very small net profit ($4,500) and in 2018 a small net loss (-$3,600).
Through all this, it has been money -in, money -out.
We have had no reserves and we have had to be enterprising in raising working capital
to expand inventory and complete capital projects. We also have had to be enterprising
in tapping the skills, talents and enthusiasm of individuals in our community.
After stabilizing our finances in 2017 and 2018, we approached 2019 with a spirit of
fearlessness and willingness to take risks.
We had our best sales year ever in 2019 — but also hit some very rough patches.
There was a major "credit card snafu" in mid-August when we updated software for our
Point of Sale system. The Market experimented with new inventory spending and
staffing structure and more. Some things worked, some didn't.
We ended the 2019 year with a big net loss — and cash flow problems.
The Market learned some hard lessons.
We changed management structure in 2020, moving Pia Lopez from Board President
to General Manager, hiring Danielle Taylor as Purchasing Manager. We have been
working hard on product mix and margin analysis.
2020 Turnaround Year
We have been working on a number of fronts, again, to stabilize finances and get
working capital to expand inventory.
--Goal 1: Increase average "basket size" (sales per customer transaction).
-- Goal 2: Increase daily foot traffic (average # customers per day)
Since the pandemic, our sales have increased substantially year -over -year
Sales Increase/
Decrease since Twin Cities food Food co-ops
pandemic MnStMkt co-ops nationally
March 51.6%
April 48.2% -3.0% -5.7%
May �F 70.7% 1.0% -1.4%
June 55.4%1 1
This is in contrast to co-op's in the Twin Cities and nationally:
htt s://www.startribune.com/twin-cities-food-co-o s-haven-t-fared-as-well-as-
su ermarkets-in- andemic/571359302/
—Safety. No crowds or lines. We also were early to wear masks, encourage
handwashing and provide gloves to customers, disinfect high -use surfaces often,
socially distance as much as possible.
—People making fewer shopping trips to minimize public exposure: We have been
helped by this. Our average sale ("basket size") has increased by a lot (50%).
—Online ordering: We were quick to offer home delivery and curbside pickup. Yes, it
is labor-intensive, but we recruited volunteers to help. We did the "low -rent" version of
online ordering: free Google Form. Not a high percentage of our sales, but a nice
boost: "basket size" is higher than the average in-store purchase.
—Organics, local and regional items: We find that our customers do want to support
local. Many others specifically ask for organic foods: They want to avoid chemicals,
additives, pesticides in their foods to boost their immunity during the pandemic. Many
have told us that even though they spend more on groceries at MnStMkt, they still are
saving money compared to pre -pandemic because they are not spending dollars on
eating out. They do seem to understand why our prices may be a little higher -- quality
does matter (as with a mobile phone or tennis shoes) and the little guys just don't have
the "economies of scale" that the mega -marts have.
We seem to have been better supplied than the big guys on a lot of items -- we are
able to just call up our local folks to get stuff. We go get it ourselves if they can't
deliver right away.
We hope to build on this sort of "return to basics" -- cooking at home, supporting local
-- beyond the pandemic.
We expect to see some drop-off in sales as more restaurants and food outlets re -open.
We believe $495,000-$500,000 is an attainable sales goal for the year.
Current indebtedness
As of June 30, we owe $28,500 on Stearns Electric loan. Monthly payments of $462.47
have been suspended until November.
We have $6,000 in Member Loans. No monthly payments. These 4 loans mature
between 2022 and 2025.
We have a $10,000 Line of Credit with Central Minnesota Credit Union. Paid off in
April. Currently no payments. $10,000 available as of June 30.
We have a forgiveable SBA Paycheck Protection Program loan of $14,900. We have
met requirements to make this forgiveable.
Partnership with St. Joseph
The City of St. Joseph has been a partner with the Minnesota Street Market from the
beginning in 2011 — with a $26,000 loan (paid off in August 2018).
We would like to extend that partnership with a new $25,000 loan from the City's
Revolving Loan Fund, contributing "to a vibrant,friendly downtown in the Central
Business District." Thank you for this opportunity!