HomeMy WebLinkAbout01_18_22_EDA packet
www.cityofstjoseph.com
75 Callaway Street East | Saint Joseph, Minnesota 56374
Email: cityoffices@cityofstjoseph.com | Phone: 320.363.7201 | Fax 320.363.0342
St. Joseph Economic Development Authority January 18th, 202 12:00 PM 75 Callaway St E (St. Joseph City Hall) ** The meeting will also be offered remotely via Zoom**
1.Call to order
2. Public Comments
3. Approve Agenda
4. Consent Agendaa. Minutes – Requested Action: Approve the minutes of December 21st, 2021
b. Financial Report –DEC REPORT
5.Chair and Vice Chair nominations
6. Connecting Entrepreneurial Communities Conference - 2022
7.JR Mobile
8. 2022 Business Retention strategy
9. Business/Development and EDA priorities update
10.Board Member Announcements
11. Adjourn
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December 21st, 2021 Page 1 of 1
Pursuant to due call and notice thereof, the St. Joseph Economic Development Authority met on Tuesday, December 21st, 2021 at 12:00 PM. Members Present: Board Members Kevin Kluesner, Doug Danielson, Dale Wick, Rick Schultz Members Absent: Larry Hosch
City Representatives Present: Community Development Director Nate Keller, City Administrator Therese Haffner Schultz called the St. Joseph Economic Development Authority meeting to order at 12:03 PM
Agenda Approval: Wick made a motion to approve the agenda as presented; seconded by Schultz and passed unanimously by those present. Consent Agenda: Wick made a motion to approve the consent agenda as follows; seconded by Kluesner and passed unanimously by those present. a. Minutes - Approved the minutes of November 16th, 2021
b. Financial Report – Nov.. report Connecting Entrepreneurial Communities Conference - 2022 Keller presented information pertaining to the conference. Questions were asked including: how much planning and logistical involvement would staff/city have to undertake, potential concerns with asking for local sponsorship on the conference conflicting with community center fundraising, how many attendees
would we expect for the conference, where does the registration money go, the need to gather feedback from communities who hosted the conference in the past, among others. Keller will work on answers to the questions and report back at next meeting. Keller will also gauge the interest in potential folks who could serve on a local planning committee.
Village/Fire hall sale proceeds
Keller highlighted ideas for use of the village/fire hall sale proceeds. Discussion was had on utilization of the money towards the EDA priority of getting a hotel in the downtown. Board decided to park the funds now and keep the ideas in mind. Business/Development and EDA priorities updates Keller updated the Commission on various topics like: Trobec’s, parties looking for space downtown, EDA
priorities on hotel development, GSDC monthly check-in, Bad Habit expansion, JR Mobile and successful DEED grant, gBETA “Pitch Night”, redevelopment of downtown, Weathered Rivals in the Village Hall, Ash
St development activity. Adjourn: Wick made a motion to adjourn the meeting at 12:39 PM, seconded by Schultz and passed unanimously by those present. Nate Keller Community Development Director
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EDA Agenda Item
________________________ MEETING DATE: January 19, 2022
AGENDA ITEM: December 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 December 31, 2021. The ending
undesignated balance shows a surplus of $86,758. The designated project balance is $180,331 for
economic development programs. 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 proceeds from
the old fire hall/police station were deposited into the EDA fund for future downtown economic
development.
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 $226,030 on
December 31st, including $200,054 reserved balance from the EDA fund to be used for future economic
development projects; $25,976 is available from the State’s RLF fund for future loan requests.
The Lodging Tax fund has a balance of $20,500 on December 31st. A summary of their activity is
enclosed in this report. Lodging tax collections were down significantly in 2020/2021; council approved
to discontinue lodging tax from 12/1/20 through 4/30/2021 resulting in the lower collections. The
lodging tax revenue began again in June with May collections. Revenue collections this summer are
closer to normal from pre-COVID. In addition, the 2019 and 2020 t-shirt and beanie hat proceeds were
received. New hats and t-shirts are being sold at the MN Street Market. The Co-op remits sales
proceeds monthly.
The 2018 Housing Rehab grant administered by Central MN Housing Partnership has been spent. The
final grant proceeds were deposited in Dec. 2021.
Note: The reports do not reflect year-end audit entries that will be recorded over the next couple
months.
BUDGET/FISCAL IMPACT: For Information Only ATTACHMENTS: EDA Financial Summary EDA Balance Sheet EDA Revenue Report EDA Expenditure Report EDA Summary CIP CVB Financial Summary REQUESTED BOARD ACTION: Consider acceptance of the December financial reports.
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01/06/22 2:56 PM
EDA Balance Sheet
City of St. Joseph Page 1
Current Period: December 2021
FUND Descr Account Descr Begin Yr YTDDebit YTDCredit CurrentBalance
FUND 150 Economic Development
Economic Development G 150-10100 Cash $111,121.79 $312,917.09 $171,750.40 $252,288.48
Economic Development G 150-10450 Interest Receivable $110.15 $0.00 $110.15 $0.00
Economic Development G 150-10500 Accounts Receivable $0.00 $0.00 $0.00 $0.00
Economic Development G 150-10700 Taxes Receivable - Delinquen $2,111.50 $0.00 $2,111.50 $0.00
Economic Development G 150-13113 Due From other Gov t Units $6,963.10 $0.00 $6,963.10 $0.00
Economic Development G 150-15500 Due From Other Fund $12,500.00 $2,300.00 $0.00 $14,800.00
Economic Development G 150-20200 Accounts Payable -$16,122.49 $16,122.49 $0.00 $0.00
Economic Development G 150-20201 Salaries Payable -$575.60 $575.60 $0.00 $0.00
Economic Development G 150-22204 Deferred Inflow of Resources -$2,111.50 $2,111.50 $0.00 $0.00
Economic Development G 150-24415 Design. Fd Bal - Operations $0.00 $0.00 $0.00 $0.00
Economic Development G 150-25310 Unassigned Fund Balance -$113,996.95 $176,523.65 $329,615.18 -$267,088.48
$0.00 $510,550.33 $510,550.33 $0.00FUND 150 Economic Development
FUND 153 TIF 4-1 Fortitude Senior Apts
TIF 4-1 Fortitude Senior G 153-10100 Cash $11,148.87 $68,701.49 $63,041.29 $16,809.07
TIF 4-1 Fortitude Senior G 153-10450 Interest Receivable $19.19 $0.00 $19.19 $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 -$51.10 $51.10 $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 -$11,116.96 $63,060.48 $68,752.59 -$16,809.07
$0.00 $131,813.07 $131,813.07 $0.00FUND 153 TIF 4-1 Fortitude Senior Apts
FUND 157 TIF 2-1 Millstream
TIF 2-1 Millstream G 157-10100 Cash $32,821.83 $43,188.38 $39,881.28 $36,128.93
TIF 2-1 Millstream G 157-10450 Interest Receivable $63.98 $0.00 $63.98 $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 $1,880.48 $0.00 $1,880.48 $0.00
TIF 2-1 Millstream G 157-20200 Accounts Payable -$1,692.43 $1,692.43 $0.00 $0.00
TIF 2-1 Millstream G 157-25310 Unassigned Fund Balance -$33,073.86 $41,825.74 $44,880.81 -$36,128.93
$0.00 $86,706.55 $86,706.55 $0.00FUND 157 TIF 2-1 Millstream
FUND 158 TIF 2-2 Meat Market
TIF 2-2 Meat Market G 158-10100 Cash $333.57 $4,587.28 $4,920.85 $0.00
TIF 2-2 Meat Market G 158-10450 Interest Receivable $2.13 $0.00 $2.13 $0.00
TIF 2-2 Meat Market G 158-20200 Accounts Payable -$8.29 $8.29 $0.00 $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 $0.00 $0.00 $0.00 $0.00
TIF 2-2 Meat Market G 158-25310 Unassigned Fund Balance -$327.41 $4,922.98 $4,595.57 $0.00
$0.00 $9,518.55 $9,518.55 $0.00FUND 158 TIF 2-2 Meat Market
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
TIF 2-3 Bayou Blues/All G 159-10100 Cash $3,372.23 $38,061.98 $35,083.08 $6,351.13
TIF 2-3 Bayou Blues/All G 159-10450 Interest Receivable $2.00 $0.00 $2.00 $0.00
TIF 2-3 Bayou Blues/All G 159-13113 Due From other Gov t Units $0.00 $0.00 $0.00 $0.00
TIF 2-3 Bayou Blues/All G 159-20200 Accounts Payable -$12.91 $12.91 $0.00 $0.00
TIF 2-3 Bayou Blues/All G 159-20500 Due To Other Fund -$12,500.00 $0.00 $2,300.00 -$14,800.00
TIF 2-3 Bayou Blues/All G 159-25310 Unassigned Fund Balance $9,138.68 $35,085.08 $35,774.89 $8,448.87
$0.00 $73,159.97 $73,159.97 $0.00FUND 159 TIF 2-3 Bayou Blues/Alley Flat
FUND 220 Lodging Tax
Lodging Tax G 220-10100 Cash $22,164.03 $14,750.84 $16,415.00 $20,499.87
Lodging Tax G 220-10450 Interest Receivable $55.10 $0.00 $55.10 $0.00
44
FUND Descr Account Descr Begin Yr YTDDebit YTDCredit CurrentBalance
Page 2
01/06/22 2:56 PM
EDA Balance Sheet
City of St. Joseph
Current Period: December 2021
Lodging Tax G 220-10500 Accounts Receivable $20.91 $0.00 $20.91 $0.00
Lodging Tax G 220-25310 Unassigned Fund Balance -$22,240.04 $16,491.01 $14,750.84 -$20,499.87
$0.00 $31,241.85 $31,241.85 $0.00FUND 220 Lodging Tax
FUND 225 DEED CDAP Grant
DEED CDAP Grant G 225-10100 Cash $47,311.21 $5,379.84 $9,613.24 $43,077.81
DEED CDAP Grant G 225-10450 Interest Receivable $90.72 $0.00 $90.72 $0.00
DEED CDAP Grant G 225-25310 Unassigned Fund Balance -$47,401.93 $9,703.96 $5,379.84 -$43,077.81
$0.00 $15,083.80 $15,083.80 $0.00FUND 225 DEED CDAP Grant
FUND 250 Revolving Loan Fund
Revolving Loan Fund G 250-10100 Cash $211,383.92 $15,554.64 $908.74 $226,029.82
Revolving Loan Fund G 250-10450 Interest Receivable $456.53 $0.00 $456.53 $0.00
Revolving Loan Fund G 250-11900 Notes Receivable $79,637.97 $0.00 $79,637.97 $0.00
Revolving Loan Fund G 250-20200 Accounts Payable -$20.00 $20.00 $0.00 $0.00
Revolving Loan Fund G 250-22204 Deferred Inflow of Resources -$79,425.27 $79,637.97 $212.70 $0.00
Revolving Loan Fund G 250-24415 Design. Fd Bal - Operations -$11,979.24 $11,979.24 $0.00 $0.00
Revolving Loan Fund G 250-25310 Unassigned Fund Balance -$200,053.91 $1,577.97 $27,553.88 -$226,029.82
$0.00 $108,769.82 $108,769.82 $0.00FUND 250 Revolving Loan Fund
$0.00 $966,843.94 $966,843.94 $0.00
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01/06/22 2:57 PM
EDA Expenditure Report
City of St. Joseph Page 1
Current Period: December 2021
Account Descr 2021YTD Budget December2021 Amt 2021YTD Amt
FUND 150 Economic Development
E 150-46500-101 Salaries $27,295.00 $3,614.10 $30,135.47
E 150-46500-103 Legislative Bodies $1,050.00 $0.00 $350.00
E 150-46500-121 PERA Contributions $2,045.00 $271.06 $2,260.00
E 150-46500-122 FICA Contributions $1,630.00 $222.56 $1,851.21
E 150-46500-123 Deferred Comp-Employer $455.00 $26.25 $218.75
E 150-46500-125 Medicare Contributions $380.00 $52.05 $432.87
E 150-46500-130 H S A- Employer Contribution $790.00 $0.00 $787.50
E 150-46500-131 Health Insurance $5,460.00 $442.62 $5,311.43
E 150-46500-132 Dental Insurance $415.00 $27.78 $366.57
E 150-46500-133 Life Insurance $25.00 $4.66 $30.29
E 150-46500-134 Disabilty Insurance $285.00 $22.30 $178.40
E 150-46500-151 Workers Comp. Insur. Prem. $220.00 $0.00 $207.90
E 150-46500-171 Clothing Allowance $70.00 $0.00 $0.00
E 150-46500-200 Office Supplies $500.00 $0.00 $107.31
E 150-46500-215 Software Support $1,445.00 $0.00 $687.89
E 150-46500-300 Professional Services $1,200.00 $0.00 $4,815.00
E 150-46500-303 Engineering Fee $2,000.00 $0.00 $97.50
E 150-46500-304 Legal Fees $1,000.00 $0.00 $57.00
E 150-46500-308 Community Programs $0.00 $265.00 $65,399.25
E 150-46500-321 Telephone $1,400.00 $114.36 $1,441.71
E 150-46500-322 Postage $100.00 $27.40 $27.40
E 150-46500-328 Marketing $0.00 $0.00 $0.00
E 150-46500-331 Travel & Conference Expense $1,750.00 $0.00 $320.72
E 150-46500-340 Advertising $0.00 $0.00 $130.77
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 $421.67 $421.67
E 150-46500-588 EDA Programs $45,000.00 $0.00 $0.00
E 150-46500-622 TIF/Abatement Payments $30,000.00 $13,507.12 $31,705.24
E 150-49300-720 Transfers to Other Funds $0.00 $0.00 $0.00
$130,310.00 $19,018.93 $152,341.85FUND 150 Economic Development
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 $1,000.00
E 153-46500-306 County TIF Admin Fee $0.00 $68.88 $137.76
E 153-46500-340 Advertising $55.00 $0.00 $28.75
E 153-46500-588 EDA Programs $0.00 $0.00 $0.00
E 153-46500-622 TIF/Abatement Payments $0.00 $30,882.56 $61,765.11
E 153-49300-720 Transfers to Other Funds $0.00 $0.00 $0.00
$1,045.00 $30,951.44 $62,931.62FUND 153 TIF 4-1 Fortitude Senior Apts
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
66
Account Descr 2021YTD Budget December2021 Amt 2021YTD Amt
Page 2
01/06/22 2:57 PM
EDA Expenditure Report
City of St. Joseph
Current Period: December 2021
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 $1,000.00
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 $28.75
E 157-46500-622 TIF/Abatement Payments $0.00 $16,053.80 $37,013.50
E 157-49300-720 Transfers to Other Funds $0.00 $0.00 $0.00
$1,045.00 $16,053.80 $38,042.25FUND 157 TIF 2-1 Millstream
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 $9.20
E 158-46500-340 Advertising $55.00 $0.00 $28.75
E 158-46500-622 TIF/Abatement Payments $0.00 $0.00 $4,872.28
$555.00 $0.00 $4,910.23FUND 158 TIF 2-2 Meat Market
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 $1,000.00
E 159-46500-301 Audit & Accounting Services $0.00 $0.00 $0.00
E 159-46500-306 County TIF Admin Fee $0.00 $35.87 $71.74
E 159-46500-340 Advertising $55.00 $0.00 $28.75
E 159-46500-622 TIF/Abatement Payments $0.00 $16,082.37 $33,951.67
E 159-49300-720 Transfers to Other Funds $0.00 $0.00 $0.00
$1,045.00 $16,118.24 $35,052.16FUND 159 TIF 2-3 Bayou Blues/Alley Flat
FUND 220 Lodging Tax
E 220-46500-300 Professional Services $3,000.00 $750.00 $9,000.00
E 220-46500-309 Visitors Bureau $10,500.00 $610.00 $4,450.92
E 220-46500-328 Marketing $2,000.00 $0.00 $2,885.18
E 220-46500-331 Travel & Conference Expense $0.00 $0.00 $0.00
E 220-46500-340 Advertising $550.00 $0.00 $0.00
$16,050.00 $1,360.00 $16,336.10FUND 220 Lodging Tax
FUND 225 DEED CDAP Grant
E 225-46500-300 Professional Services $0.00 $0.00 $9,375.00
77
Account Descr 2021YTD Budget December2021 Amt 2021YTD Amt
Page 3
01/06/22 2:57 PM
EDA Expenditure Report
City of St. Joseph
Current Period: December 2021
E 225-46500-340 Advertising $0.00 $0.00 $0.00
E 225-46500-431 Annexation/Recording Fee $0.00 $46.00 $46.00
$0.00 $46.00 $9,421.00FUND 225 DEED CDAP Grant
FUND 250 Revolving Loan Fund
E 250-46500-300 Professional Services $0.00 $0.00 $0.00
E 250-46500-304 Legal Fees $0.00 $0.00 $0.00
E 250-46500-317 Other fees $0.00 $0.00 $0.00
E 250-46500-434 Certification Fee $0.00 $0.00 $0.00
E 250-46500-455 Revolving Loan Proceeds $0.00 $0.00 $0.00
$0.00 $0.00 $0.00FUND 250 Revolving Loan Fund
$150,050.00 $83,548.41 $319,035.21
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01/06/22 2:57 PM
EDA Revenue Report
City of St. Joseph Page 1
Current Period: December 2021
Account Descr SOURC 2021YTD Budget December2021 Amt 2021YTD Amt
FUND 150 Economic Development
R 150-46500-31010 Current Ad Valorem Taxes 31010 $119,905.00 $54,698.48 $118,486.89
R 150-46500-33160 Federal Grants - Other 33160 $0.00 $12,466.00 $65,134.75
R 150-46500-33430 Other Grants/Aids 33430 $0.00 $0.00 $0.00
R 150-46500-34150 TIF/MIF Deposit 34150 $0.00 $0.00 $3,125.00
R 150-46500-34160 Tax Abatement Reimbursement 34160 $9,385.00 $0.00 $4,691.00
R 150-46500-36210 Interest Earnings 36210 $1,020.00 -$48.30 -$42.76
R 150-49302-36260 Surplus Property 36260 $0.00 $0.00 $114,038.50
R 150-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $0.00
$130,310.00 $67,116.18 $305,433.38FUND 150 Economic Development
FUND 153 TIF 4-1 Fortitude Senior Apts
R 153-46500-31050 Tax Increment 31050 $0.00 $34,313.95 $68,627.89
R 153-46500-34150 TIF/MIF Deposit 34150 $0.00 $0.00 $0.00
R 153-46500-36210 Interest Earnings 36210 $100.00 -$4.77 -$4.16
R 153-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $0.00
$100.00 $34,309.18 $68,623.73FUND 153 TIF 4-1 Fortitude Senior Apts
FUND 157 TIF 2-1 Millstream
R 157-46500-31050 Tax Increment 31050 $0.00 $17,837.55 $41,126.10
R 157-46500-36210 Interest Earnings 36210 $500.00 -$12.18 -$28.78
$500.00 $17,825.37 $41,097.32FUND 157 TIF 2-1 Millstream
FUND 158 TIF 2-2 Meat Market
R 158-46500-31050 Tax Increment 31050 $0.00 $0.00 $4,585.24
R 158-46500-36210 Interest Earnings 36210 $25.00 $0.00 -$2.42
R 158-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $0.00
$25.00 $0.00 $4,582.82FUND 158 TIF 2-2 Meat Market
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
R 159-46500-31050 Tax Increment 31050 $0.00 $17,869.30 $35,738.60
R 159-46500-36210 Interest Earnings 36210 $25.00 -$0.82 $3.37
R 159-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $0.00
$25.00 $17,868.48 $35,741.97FUND 159 TIF 2-3 Bayou Blues/Alley Flat
FUND 220 Lodging Tax
R 220-46500-31600 Lodging Tax 31600 $10,500.00 $809.01 $8,911.61
R 220-46500-33400 State Grants and Aids 33400 $0.00 $0.00 $2,025.00
R 220-46500-34406 Sponsorship Fee 34406 $0.00 $0.00 $0.00
R 220-46500-34409 Marketing 34409 $1,500.00 $225.00 $3,698.75
R 220-46500-36210 Interest Earnings 36210 $600.00 -$7.06 -$39.43
R 220-46500-36230 Contributions - General 36230 $0.00 $0.00 $0.00
R 220-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $0.00
$12,600.00 $1,026.95 $14,595.93FUND 220 Lodging Tax
FUND 225 DEED CDAP Grant
R 225-46500-34200 DEED Housing Reimbursement 34200 $0.00 $0.00 $5,142.85
R 225-46500-36210 Interest Earnings 36210 $850.00 -$16.03 -$45.97
R 225-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $0.00
$850.00 -$16.03 $5,096.88FUND 225 DEED CDAP Grant
FUND 250 Revolving Loan Fund
R 250-46500-36210 Interest Earnings 36210 $3,000.00 -$79.29 -$193.00
R 250-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $0.00
99
Account Descr SOURC 2021YTD Budget December2021 Amt 2021YTD Amt
Page 2
01/06/22 2:57 PM
EDA Revenue Report
City of St. Joseph
Current Period: December 2021
R 250-46500-39320 Loan Principal 39320 $11,140.00 $1,035.53 $12,010.78
R 250-46500-39321 Loan Interest 39321 $2,145.00 $168.19 $2,178.89
R 250-46500-39322 Loan Origination Fee 39322 $0.00 $0.00 $0.00
$16,285.00 $1,124.43 $13,996.67FUND 250 Revolving Loan Fund
$160,695.00 $139,254.56 $489,168.70
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2021CapitalExpendituresGeneralFundCapitalImprovementPlanEDAEDARecommended:June16,2020AdoptedDecember7,202012/31/2020Availablethrough12/31 through12/31ProjectProjectReserve Budget Grants/Aids Spent2021Department AccountCode NumberEquipmentBalance 2021 2021 2021 BalanceEDA 150-46500-582EDA-1401Computer Software2,728.41500.00421.672,806.74EDA 150-46500-588EDA-1402Business Development18,316.0045,000.00114,038.50(169.50)177,524.00RLF 250-46500-588EDA-1402Business Development200,053.91200,053.91218,369.9145,000.00114,038.50(169.50)377,577.91TOTAL EDA CIP221,098.3245,500.00114,038.50252.17380,384.65Housing Grant Draw DownAward 178,625.000.50178,625.501111
St. Joseph Economic Development Authority
Summary Treasurer's Report - Fund 150
December 2021
Fund 150, EDA Balance as of December 31, 2020 (Audited)113,996.95
Year to Date Revenue:Budget YTD Actual
Interest Earnings 1,020 (42.76)
TIF/MIF Deposit - 3,125.00
DEED Housing Federal Grant Proceeds - 65,134.75
Abatement Reimbursement (School District)9,385 4,691.00
Building Sale - 114,038.50
Ad Valorem Taxes 119,905 118,486.89
Total Revenue 130,310 305,433.38
Year to Date Expenditures by Object:
Board Stipends 1,050 (350.00)
Staff Salaries/Training 40,995 (41,893.21)
Workers Comp Premium 220 (207.90)
Software Support/Office Supplies 1,945 (822.60)
Professional Services 1,200 (4,815.00)
Legal/Engineering Fees 3,000 (154.50)
Telephone 1,400 (1,441.71)
Greater St. Cloud Development Investment 5,000 (5,000.00)
Business Round Table Outreach - -
Advertising - (130.77)
Abatement Payments (Country Manor)30,000 (31,705.24)
CM Housing Grant Reimbursement - (65,399.25)
Computers 500 (421.67)
EDA Programs 45,000 -
Transfer to Other Funds - -
Total Expenses 130,310 (152,341.85)
Fund Summaries as of December 31, 2021:
EDA Fund Balance - Fund 150 - unaudited, cash balance 267,088.48
Designated for Capital Programs 180,330.74
Undesignated 86,757.74
TIF 4-1 Fortitude Senior Apts Fund Balance - Fund 153 16,809.07
TIF 2-1 Millstream Shops and Lofts Fund Balance - Fund 157 36,128.93
TIF 2-3 Bayou Blues & Alley Flats Fund Balance - Fund 159 (8,448.87)
Lodging Tax Fund Balance - Fund 220 20,499.87
DEED CDAP Grant Fund Balance - Fund 225 43,077.81
Revolving Loan Fund Balance - Fund 250 226,029.82
Designated for Revolving Loan Program 25,975.91
Designated for Economic Development 200,053.91
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CVB2021FinancialSummaryAsofDecember31,2021BeginningFundBalance112122,240.04$BudgetYTDRevBudget YTDRevCustomer202220222021 2021InterestEarnings300.00$Interest 600.00$(39.43)$Tshirt/Hats/MerchandiseSales1,500.00$Marketing 1,500.00$3,698.75$Sponsorshipdues4,000.00$ExploreMNGrantphaseI$775.00$EDATransferSponsorshipMatch4,000.00$ExploreMNGrantphaseII$1,250.00$RodewayInnLodgingTax10,000.00$LodgeTax9,000.00$7,307.94$CSBLodgingTax3,300.00$LodgeTax1,000.00$735.62$EstatesB&BLodgingTax700.00$LodgeTax500.00$868.05$23,800.00$12,600.00$14,595.93$BudgetYTDExpBudget YTDExpVendor202220222021 2021ProfessionalServicesManageSocialMedia(BrunoPress)9,000.00$BrunoPress 9,000.00$9,000.00$Visitor'sBureauRubinskiWorksVideos2,400.00$Videos/photos 2,000.00$1,800.00$Visitor'sBureauWebsite/Joetownmn.comHosting1,745.00$website 500.00$706.52$Visitor'sBureauShopSmall/WinterwalkPostcards500.00$Marketing 500.00$$Visitor'sBureauPhotos1,200.00$ShopSmall 1,100.00$1,089.40$Visitor'sBureauBikeRacks1,000.00$Visitor'sBureauWobegonTrailheadMaps/Signage**2,900.00$MarketingAdditionalwithSponsorshipFees2,000.00$SHRPAHotelStay$MarketingSHRPA$SHRPA 900.00$900.00$MarketingMerchandiseSales(Krillan)1,500.00$Tshirt/caps 1,500.00$1,185.18$AdvertiseGreaterSt.CloudVisitor'sGuide775.00$ExploreMNGrant 350.00$775.00$AdvertiseMNTrailsMagazine580.00$MNTrailsMagazineAd$580.00$AdvertiseNewcomerServiceMagazine200.00$advertising 200.00$300.00$23,800.00$16,050.00$16,336.10$EndingCashBalance12312120,499.87$EDAFund150Budget:Budget YTDSpent2021StrategicPlan2,000.00$2,000.00$20213monthsPictures1,800.00$1,800.00$**Proposetrailheadsigntobepaidforwithfund390balancefromCitywelcomesignsproject3,800.00$3,800.00$1414
EDA Agenda Items 5-9
MEETING DATE: January 18th, 2022 AGENDA ITEM: 5. Chair and Vice Chair nominations
6. Connecting Entrepreneurial Communities Conference 2022 7. JR Mobile 8. Business Retention Strategy
9. Business/Development and EDA Priorities update SUBMITTED BY: Nate Keller, Community Development Director PREVIOUS BOARD ACTION: 5 – none 6 – at December EDA meeting brief discussion was made and questions asked 7 – numerous discussion and approvals have occurred with this project. Most recent was approving the grant submittal (and getting notification that DEED awarded the grant) 8 – none BACKGROUND INFORMATION: 5 – motion is needed on Chair and Vice Chair for 2022
6 – Staff had further discussion with The University of MN extension staff on logistics for the conference and responsibilities (along with time commitments). Some answers to previous EDA questions: Question – how much planning and logistical involvement would be needed?
It is expected the local host provides at least 5 members on a local team. The members can expect to devote at least 5 hours a month individually towards the conference planning. U of M extension will have a larger Sterling Committee which they will form. This sterling committee will have subcommittees for marketing, promotions, and sponsorship. The committee will take the lead on the logistics of lining up speakers, times, topics, etc. Input and recommendations from the local team will be provided to the larger Sterling Committee. At least one member of the local team should serve on the Sterling Committee.
Work would begin in March and go up to the conference date (Sept. 8 and 9th). Local team would meet once a month. Question – concerns on gathering local sponsorship and timing with the Community Center fundraising
When applying, it would be much more competitive to have “soft” commitments secured for sponsorship. U of M Extension will help work on formalizing sponsorship commitments if
community is chosen however it is expected that the host have a list of contacts who may have provided soft commitments. Question – how many attendees would attend conference?
200-300
Staff has communication out to communities who previously hosted the conference (Staples and Waseca) and to-date has not heard back. Staff also has communication out to CSB regarding involvement, and larger venue space (requirements/cost)
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At the Jan. 10th CVB meeting two members Mary Bruno and Pia Lopez have indicated they could help
serve on the local team. Staff has also been in conversation with GSDC staff who could likely assist. That would leave two more spots we’d need to fill. One question is if EDA members would be interested? Considering applications are not due until February 25th staff has time to continue outreach and gathering of background before February 15th EDA meeting. 7 – staff will provide a verbal update on JR Mobile 8 – for 2022 Retention visits will focus on those not completed in 2021 along with various other businesses. A rough schedule will be provided at Feb. meeting. One focus of staff for 2022 is to better tell the story of the businesses and developers in the community. This will include pictures, and write ups on
the City’s Social Media page on the faces behind businesses/development. These stories will provide background into what makes St. Joe so awesome!
9 – verbal update on development and EDA priorities will be provided at meeting (including boutique hotel and redevelopment progress within Ash St). BUDGET/FISCAL IMPACT: N/A ATTACHMENTS: None REQUESTED BOARD ACTION: 5 – motion on chair and vice chair 6 – input from EDA 7 – none just informational 8 – none just informational
9 – none just informational
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