HomeMy WebLinkAbout03.16.21CITY OF ST. JOSEPH
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St. Joseph Economic Development Authority
th
March 16
, 2021
12:00 PM
** The meeting will be conducted remotely via Zoom**
1.Call to order
2.Public Comments
3.Approve Agenda
4.Consent Agenda
a.Minutes – Requested Action: Approve the minutes of January 19th, 2021
b.Financial Report – Requested Action: Accept the February 2021 Financial Reports
as presented.
5.CVB – Strategic Plan Update
6.BR&E update
7.Comprehensive Plan – EDA goal discussion
8.Business/Development Updates
9.Board Member Announcements
10.Adjourn
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75 Callaway Street East | Saint Joseph, Minnesota 56374
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Email: cityoffices@cityofstjoseph.com | Phone: 320.363.7201 | Fax 320.363.0342
January 19th, 2021
Page 1 of 1
Pursuant to due call and notice thereof, the St. Joseph Economic Development Authority met on
Tuesday, January 19th, 2021 at 12:00 PM via Zoom Meeting.
Members Present: Board Members Rick Schultz, Larry Hosch, Dale Wick, Doug Danielson
Members Absent:
City Representatives Present: City Administrator Therese Haffner, Community Development Director
Nate Keller,
Others Present:Mary Bruno – CVB Director
Schultz called the St. Joseph Economic Development Authority meeting to order at 12:00 PM
Agenda Approval: Schultz made a motion to approve the agenda as presented; seconded by
Danielson and passed unanimously by those present.
Consent Agenda: Schultz 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 December 15, 2020
b. Dec. Financial Report - Accepted the Dec. 2020 Financial Report as presented.
New Business
a. CVB Strategic Plan request
Keller provided an overview of the intent for the CVB Strategic Plan. The plan will outline goals (short and
long-term), strategies, and implementation techniques. The plan will help paint a clearer picture on larger
goals which may require more financial commitment. In addition, the plan will help streamline
communication between the CVB needs/wants and the EDA/City. Mary Bruno also provided additional
background on the need specifically as it relates to the content creation.
Questions from the EDA were asked about the Strategic Plan proposals, content, and financials.
Hosch made a motion to approve $2,000 for the Strategic Plan from Marketing Connection with the
condition of checking references and ensuring the contract language is specified and $1,800 from
Rubinski Visuals seconded by Wick and passed unanimously by those present.
b. 2021 Business Retention & Expansion (BR & E)
Keller updated the Commission on the proposed BR & E schedule for 2021 and asked for Commission
members to reach out to staff regarding which business retention visit they would like to participate in.
Adjourn: Schultz made a motion to adjourn the meeting at 12:48 PM, seconded by Wick and
passed unanimously by those present.
Nate Keller
Community Development Director
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EDAAgenda Item 4b
________________________
MEETING DATE: March 16, 2021
AGENDA ITEM: February Finance Reports
SUBMITTED BY: Finance
BOARD/COMMISSION/COMMITTEE/COUNCIL RECOMMENDATION: N/A
PREVIOUS EDA ACTION: None
BACKGROUND INFORMATION:
Enclosed you will find the reconciled financial reports through February 28, 2021. The ending
undesignated balance shows a surplus of $34,142. The designated project balance is $66,544 plus
$2,200 for the CVB strategic plan implementation plus three months of pictures. Staff will present a
transfer of $10,500 from the EDA fund to fund 250 in the Designated Economic Development account
for future EDA project spending. Audit journal entries will be recorded in late March after field work is
completed. After all entries are in, working capital and designated balances will be determined. The
designation for capital programs includes the 2021 budget. The budget is paid for with tax proceeds.
Taxes are received in June, July and December.
The other funds reported include the TIF funds, Lodging Tax, DEED CDAP Grant reimbursement and the
Revolving Loan fund. There are three revolving loans to Krewe and Flour to Flower Bakery; St. Joseph
Food Co-Op; and Jupiter Moon Ice Cream. The current revolving loan fund balance is $202,917 on
th
February 28, including $189,554 reserved balance from the EDA fund to be used for future economic
development projects; $13,364 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 in 2020. These payments were added to the end of the loan.
th
The Lodging Tax fund has a balance of $19715 on February 28. A summary of their activity is enclosed
in this report. Lodging tax collections have been down significantly in 2020; council approved to
discontinue lodging tax from 12/1/20 through 4/28/2021 resulting in lower 2021 lodging taxes also. The
plan is to buy down the reserved balance to help businesses increase sales.
The 2018 Housing Rehab grant administered by Central MN Housing Partnership has a balance of
$65,136. CMHP stated they have two applications pending with a third potential if funds are still
available. The grant funding needs to be spent by 12/28/21 or is lost.
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BUDGET/FISCAL IMPACT: For Information Only
ATTACHMENTS: Request for EDA Action – Finance Reports
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 February financial reports.
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03/05/21 11:50 AM
City of St. Joseph
Page 1
EDA Balance Sheet
Current Period: February 2021
YTDYTDCurrent
FUND DescrAccount DescrBegin YrDebitCreditBalance
FUND 150 Economic Development
Economic DevelopmentG 150-10100 Cash$123,413.22$7,017.75$30,419.58$100,011.39
Economic DevelopmentG 150-10450 Interest Receivable$110.15$0.00$0.00$110.15
Economic DevelopmentG 150-10500 Accounts Receivable$0.00$0.00$0.00$0.00
Economic DevelopmentG 150-10700 Taxes Receivable - Delinquent$2,111.50$0.00$0.00$2,111.50
Economic DevelopmentG 150-13113 Due From other Gov t Units$6,963.10$0.00$0.00$6,963.10
Economic DevelopmentG 150-15500 Due From Other Fund$12,500.00$0.00$0.00$12,500.00
Economic DevelopmentG 150-20200 Accounts Payable-$16,122.49$0.00$0.00-$16,122.49
Economic DevelopmentG 150-20201 Salaries Payable-$575.60$0.00$0.00-$575.60
Economic DevelopmentG 150-22204 Deferred Inflow of Resources-$2,111.50$0.00$0.00-$2,111.50
Economic DevelopmentG 150-24415 Design. Fd Bal - Operations$0.00$0.00$0.00$0.00
Economic DevelopmentG 150-25310 Unassigned Fund Balance-$126,288.38$30,419.58$7,017.75-$102,886.55
FUND 150 Economic Development$0.00$37,437.33$37,437.33$0.00
FUND 153 TIF 4-1 Fortitude Senior Apts
TIF 4-1 Fortitude SeniorG 153-10100 Cash$11,148.87$6.38$51.25$11,104.00
TIF 4-1 Fortitude SeniorG 153-10450 Interest Receivable$19.19$0.00$0.00$19.19
TIF 4-1 Fortitude SeniorG 153-10500 Accounts Receivable$0.00$0.00$0.00$0.00
TIF 4-1 Fortitude SeniorG 153-20200 Accounts Payable$0.00$0.00$0.00$0.00
TIF 4-1 Fortitude SeniorG 153-20500 Due To Other Fund$0.00$0.00$0.00$0.00
TIF 4-1 Fortitude SeniorG 153-25310 Unassigned Fund Balance-$11,168.06$51.25$6.38-$11,123.19
FUND 153 TIF 4-1 Fortitude Senior Apts$0.00$57.63$57.63$0.00
FUND 157 TIF 2-1 Millstream
TIF 2-1 MillstreamG 157-10100 Cash$32,821.83$1,901.23$1,692.93$33,030.13
TIF 2-1 MillstreamG 157-10450 Interest Receivable$63.98$0.00$0.00$63.98
TIF 2-1 MillstreamG 157-10500 Accounts Receivable$0.00$0.00$0.00$0.00
TIF 2-1 MillstreamG 157-13113 Due From other Gov t Units$1,880.48$0.00$0.00$1,880.48
TIF 2-1 MillstreamG 157-20200 Accounts Payable-$1,692.43$0.00$0.00-$1,692.43
TIF 2-1 MillstreamG 157-25310 Unassigned Fund Balance-$33,073.86$1,692.93$1,901.23-$33,282.16
FUND 157 TIF 2-1 Millstream$0.00$3,594.16$3,594.16$0.00
FUND 158 TIF 2-2 Meat Market
TIF 2-2 Meat MarketG 158-10100 Cash$333.57$0.34$8.30$325.61
TIF 2-2 Meat MarketG 158-10450 Interest Receivable$2.13$0.00$0.00$2.13
TIF 2-2 Meat MarketG 158-20201 Salaries Payable$0.00$0.00$0.00$0.00
TIF 2-2 Meat MarketG 158-20500 Due To Other Fund$0.00$0.00$0.00$0.00
TIF 2-2 Meat MarketG 158-25310 Unassigned Fund Balance-$335.70$8.30$0.34-$327.74
FUND 158 TIF 2-2 Meat Market$0.00$8.64$8.64$0.00
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
TIF 2-3 Bayou Blues/AllG 159-10100 Cash$3,372.23$1.31$12.94$3,360.60
TIF 2-3 Bayou Blues/AllG 159-10450 Interest Receivable$2.00$0.00$0.00$2.00
TIF 2-3 Bayou Blues/AllG 159-13113 Due From other Gov t Units$0.00$0.00$0.00$0.00
TIF 2-3 Bayou Blues/AllG 159-20200 Accounts Payable$0.00$0.00$0.00$0.00
TIF 2-3 Bayou Blues/AllG 159-20500 Due To Other Fund-$12,500.00$0.00$0.00-$12,500.00
TIF 2-3 Bayou Blues/AllG 159-25310 Unassigned Fund Balance$9,125.77$12.94$1.31$9,137.40
FUND 159 TIF 2-3 Bayou Blues/Alley Flat$0.00$14.25$14.25$0.00
FUND 220 Lodging Tax
Lodging TaxG 220-10100 Cash$22,164.03$35.25$2,539.34$19,659.94
Lodging TaxG 220-10450 Interest Receivable$55.10$0.00$0.00$55.10
Lodging TaxG 220-10500 Accounts Receivable$20.91$0.00$0.00$20.91
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03/05/21 11:50 AM
City of St. Joseph
Page 2
EDA Balance Sheet
Current Period: February 2021
YTDYTDCurrent
FUND DescrAccount DescrBegin YrDebitCreditBalance
Lodging TaxG 220-25310 Unassigned Fund Balance-$22,240.04$2,539.34$35.25-$19,735.95
FUND 220 Lodging Tax$0.00$2,574.59$2,574.59$0.00
FUND 225 DEED CDAP Grant
DEED CDAP GrantG 225-10100 Cash$47,311.21$30.70$0.73$47,341.18
DEED CDAP GrantG 225-10450 Interest Receivable$90.72$0.00$0.00$90.72
DEED CDAP GrantG 225-25310 Unassigned Fund Balance-$47,401.93$0.73$30.70-$47,431.90
FUND 225 DEED CDAP Grant$0.00$31.43$31.43$0.00
FUND 250 Revolving Loan Fund
Revolving Loan FundG 250-10100 Cash$200,012.64$2,533.64$23.02$202,523.26
Revolving Loan FundG 250-10450 Interest Receivable$414.22$0.00$0.00$414.22
Revolving Loan FundG 250-11900 Notes Receivable$0.00$0.00$0.00$0.00
Revolving Loan FundG 250-20200 Accounts Payable-$20.00$0.00$0.00-$20.00
Revolving Loan FundG 250-22204 Deferred Inflow of Resources$0.00$0.00$0.00$0.00
Revolving Loan FundG 250-24415 Design. Fd Bal - Operations-$33,571.12$0.00$0.00-$33,571.12
Revolving Loan FundG 250-25310 Unassigned Fund Balance-$166,835.74$23.02$2,533.64-$169,346.36
FUND 250 Revolving Loan Fund$0.00$2,556.66$2,556.66$0.00
$0.00$46,274.69$46,274.69$0.00
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03/03/21 10:09 AM
City of St. Joseph
Page 1
EDA Check Register
CHECK
#Search NameCommentsFUNDDEPARTAmount
057238BRUNO PRESS2021 - January CVB Social Med22046500$750.00
057245GREATER ST. CLOUD DEVELOP CORP2021 Annual Contribution15046500$5,000.00
057277COLLEGE & MINNESOTA, LLC2020 - BFA Grant - New Door15046500$1,000.00
057282JOVANOVICH, DEGE & ATHMANN2020 - RLF Loans - December 25046500$20.00
057288MIDCONTINENT COMMUNICATIONS2021 - January Telephone/Fibe15046500$116.25
057295PROMOTIONAL RESOURCES INC2020 - 2020 City Clothing Orde15046500$70.00
057296RENGEL PRINTING, INC2020 - Business Cards - Haffne15046500$12.25
057317COUNTRY MANOR ST. JOSEPH2020 - 2nd Half 2020 Tax Abat15046500$10,349.24
057372BRUNO PRESS2021 - February 2021 CVB Soci22046500$750.00
057374COUNTRY MANOR ST. JOSEPH2020 - 2nd Half 2020 Tax Abat15046500$4,691.00
057388SHRPA2021 - Joetown MN - Weekend22046500$900.00
057393WEST BANK2020 - 2nd Half 2020 Tax Settl15746500$1,692.43
057399RUBINSKI WORKS2021 - Commercial Video - Feb15046500$600.00
057409MIDCONTINENT COMMUNICATIONS2021 - February 2021 Telepho15046500$116.20
057433MARKETING CONNECTION2021 - Development of Strateg15046500$1,000.00
057435OPG-3, INC.2021 - LF Annual Support15046500$687.89
057455FORTITUDE SENIOR LIVING2020 - 1st Half 2020 Additional15346500$51.10
057458KENSINGTON BANK2020 - 1st Half 2020 Additional15946500$12.91
057465PFANNENSTEIN, HARVEY & CAROL2020 - 1st Half 2020 Additional15846500$8.29
057468SHIFT TECHNOLOGIES, INC.2021 - Renew Jowtownmn.co22046500$139.00
$27,966.56
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03/03/21 10:09 AM
City of St. Joseph
Page 1
EDA Expenditure Report
Current Period: February 2021
2021February2021
Account DescrYTD Budget2021 AmtYTD Amt
FUND 150 Economic Development
E 150-46500-101 Salaries$27,295.00$2,350.60$4,692.16
E 150-46500-103 Legislative Bodies$1,050.00$0.00$0.00
E 150-46500-121 PERA Contributions$2,045.00$176.28$351.89
E 150-46500-122 FICA Contributions$1,630.00$144.12$287.68
E 150-46500-123 Deferred Comp-Employer$455.00$17.50$26.25
E 150-46500-125 Medicare Contributions$380.00$33.70$67.28
E 150-46500-130 H S A- Employer Contribution$790.00$0.00$393.75
E 150-46500-131 Health Insurance$5,460.00$442.62$885.23
E 150-46500-132 Dental Insurance$415.00$34.42$68.85
E 150-46500-133 Life Insurance$25.00$2.33$2.33
E 150-46500-134 Disabilty Insurance$285.00$0.00$0.00
E 150-46500-151 Workers Comp. Insur. Prem.$220.00$0.00$0.00
E 150-46500-171 Clothing Allowance$70.00$0.00$70.00
E 150-46500-200 Office Supplies$500.00$0.00$12.25
E 150-46500-215 Software Support$1,445.00$687.89$687.89
E 150-46500-300 Professional Services$1,200.00$1,600.00$1,600.00
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 150-46500-308 Community Programs$0.00$0.00$0.00
E 150-46500-321 Telephone$1,400.00$116.20$232.45
E 150-46500-322 Postage$100.00$0.00$0.00
E 150-46500-328 Marketing$0.00$0.00$0.00
E 150-46500-331 Travel & Conference Expense$1,750.00$0.00$0.00
E 150-46500-340 Advertising$0.00$0.00$0.00
E 150-46500-420 Depreciation$0.00$0.00$0.00
E 150-46500-433 Dues & Memberships$5,295.00$0.00$5,000.00
E 150-46500-582 Computer Software$500.00$0.00$0.00
E 150-46500-588 EDA Programs$45,000.00$0.00$1,000.00
E 150-46500-622 TIF/Abatement Payments$30,000.00$4,691.00$15,040.24
E 150-49300-720 Transfers to Other Funds$0.00$0.00$0.00
FUND 150 Economic Development$130,310.00$10,296.66$30,418.25
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
E 153-46500-300 Professional Services$990.00$0.00$0.00
E 153-46500-306 County TIF Admin Fee$0.00$0.00$0.00
E 153-46500-340 Advertising$55.00$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$51.10$51.10
E 153-49300-720 Transfers to Other Funds$0.00$0.00$0.00
FUND 153 TIF 4-1 Fortitude Senior Apts$1,045.00$51.10$51.10
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
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03/03/21 10:09 AM
City of St. Joseph
Page 2
EDA Expenditure Report
Current Period: February 2021
2021February2021
Account DescrYTD Budget2021 AmtYTD Amt
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$990.00$0.00$0.00
E 157-46500-301 Audit & Accounting Services$0.00$0.00$0.00
E 157-46500-306 County TIF Admin Fee$0.00$0.00$0.00
E 157-46500-340 Advertising$55.00$0.00$0.00
E 157-46500-622 TIF/Abatement Payments$0.00$1,692.43$1,692.43
E 157-49300-720 Transfers to Other Funds$0.00$0.00$0.00
FUND 157 TIF 2-1 Millstream$1,045.00$1,692.43$1,692.43
FUND 158 TIF 2-2 Meat Market
E 158-46500-101 Salaries$0.00$0.00$0.00
E 158-46500-121 PERA Contributions$0.00$0.00$0.00
E 158-46500-122 FICA Contributions$0.00$0.00$0.00
E 158-46500-123 Deferred Comp-Employer$0.00$0.00$0.00
E 158-46500-125 Medicare Contributions$0.00$0.00$0.00
E 158-46500-131 Health Insurance$0.00$0.00$0.00
E 158-46500-132 Dental Insurance$0.00$0.00$0.00
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 158-46500-306 County TIF Admin Fee$0.00$0.00$0.00
E 158-46500-340 Advertising$55.00$0.00$0.00
E 158-46500-622 TIF/Abatement Payments$0.00$8.29$8.29
FUND 158 TIF 2-2 Meat Market$555.00$8.29$8.29
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$990.00$0.00$0.00
E 159-46500-301 Audit & Accounting Services$0.00$0.00$0.00
E 159-46500-306 County TIF Admin Fee$0.00$0.00$0.00
E 159-46500-340 Advertising$55.00$0.00$0.00
E 159-46500-622 TIF/Abatement Payments$0.00$12.91$12.91
E 159-49300-720 Transfers to Other Funds$0.00$0.00$0.00
FUND 159 TIF 2-3 Bayou Blues/Alley Flat$1,045.00$12.91$12.91
FUND 220 Lodging Tax
E 220-46500-300 Professional Services$3,000.00$750.00$1,500.00
E 220-46500-309 Visitors Bureau$10,500.00$139.00$139.00
E 220-46500-328 Marketing$2,000.00$900.00$900.00
E 220-46500-331 Travel & Conference Expense$0.00$0.00$0.00
E 220-46500-340 Advertising$550.00$0.00$0.00
FUND 220 Lodging Tax$16,050.00$1,789.00$2,539.00
FUND 225 DEED CDAP Grant
E 225-46500-300 Professional Services$0.00$0.00$0.00
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City of St. Joseph
Page 3
EDA Expenditure Report
Current Period: February 2021
2021February2021
Account DescrYTD Budget2021 AmtYTD Amt
E 225-46500-340 Advertising$0.00$0.00$0.00
FUND 225 DEED CDAP Grant$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$20.00
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$20.00
$150,050.00$13,850.39$34,741.98
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St. Joseph Economic Development Authority
Summary Treasurer's Report - Fund 150
February 2021
Fund 150, EDA Balance as of December 31, 2020 (Unaudited) 126,288.38
Year to Date Revenue:BudgetYTD Actual
Interest Earnings 53.321,020
TIF/MIF Deposit - -
MN Tourism Grant - 1,000.00
DEED Housing Federal Grant Proceeds - -
Abatement Reimbursement (School District) 4,691.009,385
Ad Valorem Taxes 1,272.10119,905
Total Revenue 7,016.42130,310
Year to Date Expenditures by Object:
Board Stipends -1,050
Staff Salaries/Training (6,845.42)40,995
Workers Comp Premium 220 -
Software Support/Office Supplies (700.14)1,945
Professional Services (1,600.00)1,200
Legal/Engineering Fees -3,000
Telephone (232.45)1,400
Greater St. Cloud Development Investment (5,000.00)5,000
Business Round Table Outreach - -
Advertising - -
Abatement Payments (Country Manor) (15,040.24)30,000
CM Housing Grant Reimbursement - -
Computers 500 -
EDA Programs (1,000.00)45,000
Transfer to Other Funds - -
Total Expenses (30,418.25)130,310
Fund Summaries as of February 28, 2021:
EDA Fund Balance - Fund 150 - unaudited, cash balance 102,886.55
Designated for Capital Programs 66,544.41
Designated for CVB Strategic Plan/Photos-remaining balance 2,200.00
Undesignated 34,142.14
TIF 4-1 Fortitude Senior Apts Fund Balance - Fund 153 11,123.19
TIF 2-1 Millstream Shops and Lofts Fund Balance - Fund 15733,282.16
TIF 2-2 St. Joseph Meat Market Fund Balance - Fund 158327.74
TIF 2-3 Bayou Blues & Alley Flats Fund Balance - Fund 159(9,137.40)
Lodging Tax Fund Balance - Fund 22019,715.04
DEED CDAP Grant Fund Balance - Fund 22547,431.90
Revolving Loan Fund Balance - Fund 250202,917.48
Designated for Revolving Loan Program 13,363.57
Designated for Economic Development 189,553.91
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03/03/21 10:09 AM
City of St. Joseph
Page 1
EDA Revenue Report
Current Period: February 2021
2021February2021
Account DescrSOURCYTD Budget2021 AmtYTD Amt
FUND 150 Economic Development
R 150-46500-31010 Current Ad Valorem Taxes31010$119,905.00$0.00$1,272.10
R 150-46500-33160 Federal Grants - Other33160$0.00$0.00$0.00
R 150-46500-33430 Other Grants/Aids33430$0.00$1,000.00$1,000.00
R 150-46500-34150 TIF/MIF Deposit34150$0.00$0.00$0.00
R 150-46500-34160 Tax Abatement Reimbursement34160$9,385.00$4,691.00$4,691.00
R 150-46500-36210 Interest Earnings36210$1,020.00$45.57$53.32
R 150-49302-36260 Surplus Property36260$0.00$0.00$0.00
R 150-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 150 Economic Development$130,310.00$5,736.57$7,016.42
FUND 153 TIF 4-1 Fortitude Senior Apts
R 153-46500-31050 Tax Increment31050$0.00$0.00$0.00
R 153-46500-34150 TIF/MIF Deposit34150$0.00$0.00$0.00
R 153-46500-36210 Interest Earnings36210$100.00$5.32$6.23
R 153-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 153 TIF 4-1 Fortitude Senior Apts$100.00$5.32$6.23
FUND 157 TIF 2-1 Millstream
R 157-46500-31050 Tax Increment31050$0.00$0.00$1,880.48
R 157-46500-36210 Interest Earnings36210$500.00$17.12$20.25
FUND 157 TIF 2-1 Millstream$500.00$17.12$1,900.73
FUND 158 TIF 2-2 Meat Market
R 158-46500-31050 Tax Increment31050$0.00$0.00$0.00
R 158-46500-36210 Interest Earnings36210$25.00$0.26$0.33
R 158-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 158 TIF 2-2 Meat Market$25.00$0.26$0.33
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
R 159-46500-31050 Tax Increment31050$0.00$0.00$0.00
R 159-46500-36210 Interest Earnings36210$25.00$1.17$1.28
R 159-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 159 TIF 2-3 Bayou Blues/Alley Flat$25.00$1.17$1.28
FUND 220 Lodging Tax
R 220-46500-31600 Lodging Tax31600$10,500.00$0.00$20.91
R 220-46500-34409 Marketing34409$1,500.00$0.00$0.00
R 220-46500-36210 Interest Earnings36210$600.00$11.67$14.00
R 220-46500-36230 Contributions - General36230$0.00$0.00$0.00
FUND 220 Lodging Tax$12,600.00$11.67$34.91
FUND 225 DEED CDAP Grant
R 225-46500-34200 DEED Housing Reimbursement34200$0.00$0.00$0.00
R 225-46500-36210 Interest Earnings36210$850.00$25.11$29.97
R 225-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 225 DEED CDAP Grant$850.00$25.11$29.97
FUND 250 Revolving Loan Fund
R 250-46500-36210 Interest Earnings36210$3,000.00$103.71$123.17
R 250-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
R 250-46500-39320 Loan Principal39320$11,140.00$1,010.00$2,017.48
R 250-46500-39321 Loan Interest39321$2,145.00$193.72$389.97
R 250-46500-39322 Loan Origination Fee39322$0.00$0.00$0.00
12
03/03/21 10:09 AM
City of St. Joseph
Page 2
EDA Revenue Report
Current Period: February 2021
2021February2021
Account DescrSOURCYTD Budget2021 AmtYTD Amt
FUND 250 Revolving Loan Fund$16,285.00$1,307.43$2,530.62
$160,695.00$7,104.65$11,520.49
13
CVB Agenda Item 4b
MEETING DATE: March 15, 2021
AGENDA ITEM: CVB Financial Report
SUBMITTED BY: Finance
STAFF RECOMMENDATION: Consider acceptance of the February 28, 2021 Financial Reports
PREVIOUS BOARD ACTION: None
BACKGROUND INFORMATION: Attached is the reconciled February 28, 2021 CVB financial
reports. The fund currently has a balance of $19,736. The balance includes 2020 activity that will be
reversed out after the audit fieldwork is completed in March. Lodging tax is the main revenue source for
the CVB. Lodging tax has been down significantly in 2020 due to the Governor’s shut down in response
to the Coronavirus pandemic. In addition, city council approved suspending the lodging tax through
April 30, 2021 to help attract visitors to the lodging facilities.
The CVB continues to pay Mary Bruno a monthly stipend of $750 to maintain the social media and
coordination of the CVB. A website has been established and quarterly videos continue. The SHRPA
marketing campaign was paid for and the strategic planning began (funded by the EDA).
In addition, the city received two grants from Explore Minnesota to market the city.
BUDGET/FISCAL IMPACT: Informational Only
ATTACHMENTS: Request for Board Action: CVB Financial Report
Lodging Tax Summary
CVB Balance Sheet
CVB Revenue Guideline
CVB Expenditure Guideline
REQUESTED BOARD ACTION: Consider acceptance of the financial reports as presented.
14
03/05/21 11:50 AM
City of St. Joseph
Page 1
CVB Balance Sheet
Current Period: February 2021
YTDYTDCurrent
FUND DescrAccount DescrBegin YrDebitCreditBalance
FUND 220 Lodging Tax
Lodging TaxG 220-10100 Cash$22,164.03$35.25$2,539.34$19,659.94
Lodging TaxG 220-10450 Interest Receivable$55.10$0.00$0.00$55.10
Lodging TaxG 220-10500 Accounts Receivable$20.91$0.00$0.00$20.91
Lodging TaxG 220-25310 Unassigned Fund Balance-$22,240.04$2,539.34$35.25-$19,735.95
FUND 220 Lodging Tax$0.00$2,574.59$2,574.59$0.00
$0.00$2,574.59$2,574.59$0.00
15
03/03/21 10:06 AM
City of St. Joseph
Page 1
CVB Check Register
CHECK
#Search NameCommentsFUNDDEPARTAmount
057238BRUNO PRESS2021 - January CVB Social Med22046500$750.00
057372BRUNO PRESS2021 - February 2021 CVB Soci22046500$750.00
057388SHRPA2021 - Joetown MN - Weekend22046500$900.00
057468SHIFT TECHNOLOGIES, INC.2021 - Renew Jowtownmn.co22046500$139.00
$2,539.00
16
03/03/21 9:57 AM
City of St. Joseph
Page 1
CVB Lodging Tax Expenditure
Current Period: February 2021
20212021
Act CodeOBJ DescrYTD BudgetYTD Amt2020 Amt2019 Amt
FUND 220 Lodging Tax
220-46500-300Professional Services$3,000.00$1,500.00$9,000.00$7,189.00
220-46500-309Visitors Bureau$10,500.00$139.00$9,680.38$4,075.00
220-46500-328Marketing$2,000.00$900.00$3,528.35$2,728.50
220-46500-331Travel & Conference E$0.00$0.00$561.66$0.00
220-46500-340Advertising$550.00$0.00$444.98$0.00
FUND 220 Lodging Tax$16,050.00$2,539.00$23,215.37$13,992.50
$16,050.00$2,539.00$23,215.37$13,992.50
17
03/03/21 9:57 AM
City of St. Joseph
Page 1
CVB Lodging Tax Revenue
Current Period: February 2021
2021
Account DescrYTD Amt2020 Amt2019 Amt
FUND 220 Lodging Tax
R 220-46500-31600 Lodging Tax$20.91$4,892.74$15,583.89
R 220-46500-34409 Marketing$0.00$0.00$825.00
R 220-46500-36210 Interest Earnings$14.00$756.65$1,317.20
R 220-46500-36230 Contributions - General$0.00$5,000.00$0.00
FUND 220 Lodging Tax$34.91$10,649.39$17,726.09
$34.91$10,649.39$17,726.09
18
CVB2021FinancialSummary
AsofFebruary28,2021
BeginningFundBalance1121 υЋЋͲЋЍЉ͵ЉЍ
BudgetYTDRev
Customer20212021
InterestEarnings$600.00$14.00
TshirtSales$1,000.00$
BeanieHatSales$500.00$
RodewayInnLodgingTax υВͲЉЉЉ͵ЉЉ$
υЉ$
CSBLodgingTax ЊͲЉЉЉ͵Љ
EstatesB&BLodgingTax υЎЉЉ͵ЉЉ$20.91
$12,600.00$34.91
BudgetYTDExp
Vendor20212021
BrunoPresssocialmediacampaign$9,000.00$1,500.00
GreaterSt.CloudVisitor'sGuide$350.00$
RubinskiWorksVideos$2,000.00$
WebsiteHosting$500.00$139.00
ShopSmall/WinterwalkPostcards$500.00$
Marketing$1,100.00$
MarketingSHRPA$900.00$900.00
Krillan,Inc.Tshirts/Caps$1,500.00$
NewcomerServiceMagazineAd$200.00$
$16,050.00$2,539.00
EndingCashBalance22821$19,735.95
EDAFund150Budget:BudgetYTDSpent
2021StrategicPlan$2,000.00$1,000.00
20213monthsPictures$1,800.00$600.00
$3,800.00$1,600.00
19
EDA Agenda Item 6
th
MEETING DATE: March 16, 2021
AGENDA ITEM: 6
SUBMITTED BY: Nate Keller, Community Development Director
STAFF RECOMMENDATION: Proceed forward with continuation of BR&E visits
PREVIOUS BOARD ACTION: Approved the 2021 BR&E schedule at the Dec. EDA Board
meeting.
BACKGROUND INFORMATION: Staff will provide verbal update on past BR&E visits and is
looking for Board volunteers to help complete March and April
BR&E visits.
Business Type Date
Astech Construction Jan. RESCHEDULE
Bo-Diddley’s Restaurant Jan - DONE
Central Canvas Manufacturing Manufacturing Jan - DONE
North Central Truck Accessories Wholesaler Jan - DONE
Kay’s Kitchen Restaurant Feb - DONE
Tamarack Materials Wholesaler Feb - DONE
La Playette Bar Restaurant Feb. – DONE
UPCOMING
th
Floral Arts Retail March 16@ 3:30PM
Daisy A Day Floral Retail March TBD
Scenic Specialties Landscaper April TBD
Auto Color and Industrial Supply Industrial April TBD
BUDGET/FISCAL IMPACT: None
ATTACHMENTS: None
REQUESTED BOARD ACTION: Staff is looking for Board volunteers to help complete the March
and April BR&E visits.
20 3
EDA Agenda Item 7
MEETING DATE:
th
March 16, 2021
AGENDA ITEM:
7
SUBMITTED BY:
Nate Keller, Community Development Director
STAFF RECOMMENDATION:
None item is just discussion.
PREVIOUS BOARD ACTION:
The Comprehensive Plan was adopted in 2018. The goals/strategies had been discussed with EDA as part
of the Comp. Plan adoption and implementation.
BACKGROUND INFORMATION:
Staff is looking for feedback/comments on the depicted goals/strategies. Are these still relevant/high
priority, are other goals missing, etc? Staff is also currently exploring the potential to complete a more in-
depth Strategic Plan for the EDA to help provide some consistency/clarity on EDA
mission/vision/goals/strategies/etc.
BUDGET/FISCAL IMPACT:
None
ATTACHMENTS:
1. Comp. Plan Economic Development goals/strategies
REQUESTED BOARD ACTION:
Staff is just looking for discussion and feedback at this time on the goals/strategies.
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