HomeMy WebLinkAbout07_19_22_EDA packetCITY OF ST. JOSEPH
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 July 19th, 2022 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 June 21st, 2022
b. Financial Report –JUNE Approve June Financials
5.CVB – Swag giveaway and 2023 Budget
6.EDA 2023 Budget
7.JR Mobile update
8. Business/Development, EDA priorities
9.Board Member Announcements
10. Adjourn
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May 17th, 2022 Page 1 of 2
Pursuant to due call and notice thereof, the St. Joseph Economic Development Authority met on Tuesday, June 21st, 2022 at 12:00 PM.
Members Present: Board Members Kevin Kluesner, Rick Schultz, Joe Bye,
Members Absent: Dale Wick, Larry Hosch
City Representatives Present: Community Development Director Nate Keller, City Administrator Therese Haffner, Finance Director Lori Bartlett
Schultz called the St. Joseph Economic Development Authority meeting to order at 12:00 PM
Public Comments None
Agenda Approval: Kluesner made a motion to approve the agenda as presented; seconded by Bye and passed unanimously by those present.
Consent Agenda: Kluesner made a motion to approve the consent agenda as follows; seconded by Bye and passed unanimously by those present. a. Minutes - Approve the minutes of May 17th, 2022b.Financial Report – MAY
Façade Grant Request – Bo-Diddley’s
Keller presented the grant request. Lee Weisbrich owner of Bo-Diddley’s also provided some additional background. Request would go towards remaining patio, and landscaping work.
Motion by Kluesner to recommend approval of the Façade grant request in the amount of $2,000; seconded by Bye and passed unanimously by those present.
TIF Report Summary and TIF/Tax Abatement overview Bartlett provided a summary of the TIF report. The EDA and City must complete reports and send those to the State Auditor every year by August 1st with the summary being published by August 15th.
Motion by Bye to approve publishing of the annual TIF reports; seconded by Kluesner and passed unanimously by those present.
CVB – T-Shirts and hat discussion When the CVB first started a handful of Joetown merchandise was given away through promotions to help increase brand awareness. The practice was discontinued when the merchandise was moved to one central location. The EDA asked staff if their was a set number or amount the CVB is asking. Keller did not believe CVB had a set number. Discussion occurred on putting a dollar amount behind the request (no more than $200). Board members asked staff to circle back with CVB.
JR Mobile Discussion Keller provided an update on the discussions and status of the site. Keller asked the EDA if staff could
move forward with discussions on property acquisition.
Motion by Schultz to ask that staff approach the property owner on potential acquisition of JR Mobile site; seconded by Kluesner and passed unanimously by those present.
DEED Grant
Keller presented some background on a DEED redevelopment grant which would help facilitate development if the city is successful in purchasing the property.
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May 17th, 2022 Page 2 of 2
Motion by Schultz to allow staff to pursue the DEED Redevelopment grant, seconded by Bye and passed unanimously by those present.
2023 Budgeting Staff is brainstorming 2023 budget ideas. One item staff would like to keep is the current Façade and Demolition grant amounts. 2022 saw a significant increase in the amount of grants being applied for. This
demonstrates the program is seeing success after increasing the allowable amounts given from 2021. The CVB will have discussion at their July meeting regarding goals for 2023. These will be reviewed by EDA at their July and August meetings.
Business/Development, EDA priorities Keller provided updates on: Craft Distillery, Trobec’s, Special Event Facility, River’s Bend 4, East Park
Grant, Storage Link Site plan on 8th Ave NE, and boutique hotel discussions.
Board Member Announcements None
Adjourn: Bye made a motion to adjourn the meeting at 1:02 PM, seconded by Schultz and passed unanimously by those present.
Nate Keller Community Development Director
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EDA Agenda Item 4b
________________________
MEETING DATE: July 18, 2022
AGENDA ITEM: June 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 June 30, 2022. The ending undesignated
balance shows a surplus of $80,114. The designated project balance is 20,390 for economic
development programs. The designation for capital programs includes the 2022 budget. The budget is
paid for with tax proceeds. Taxes are received in June, July and December. The EDA approved using
program funds with a match grant from the State to update the CVB website. The invoice was paid and
submitted to the State for reimbursement of their match.
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 $398,500 on
June 30th, including $377,054 reserved balance from the EDA fund to be used for future economic
development projects; $21,446 is available from the State’s RLF fund for future loan requests.
The Lodging Tax fund has a balance of $15,934 on June 30th. A summary of their activity is enclosed in
this report. The orange highlights are dependent upon the CVB collecting sponsorship fees. The
sponsorship fees were not moved forward for 2022, so the supported orange highlighted expenditures
are not funded. Hats and t-shirts are being sold at the MN Street Market. The Co-op remits sales
proceeds monthly. City staff is monitoring the sales and inventory monthly.
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 June financial reports.
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07/06/22 1:36 PM
EDA Balance Sheet
City of St. Joseph Page 1
Current Period: June 2022
FUND Descr Account Descr Begin Yr YTDDebit YTDCredit CurrentBalance
FUND 150 Economic Development
Economic Development G 150-10100 Cash $82,443.78 $53,593.07 $44,332.45 $91,704.40
Economic Development G 150-10450 Interest Receivable $347.24 $0.00 $347.24 $0.00
Economic Development G 150-10500 Accounts Receivable $265.00 $0.00 $265.00 $0.00
Economic Development G 150-10700 Taxes Receivable - Delinquen $597.94 $0.00 $597.94 $0.00
Economic Development G 150-13113 Due From other Gov t Units $6,406.42 $0.00 $6,406.42 $0.00
Economic Development G 150-15500 Due From Other Fund $8,800.00 $0.00 $0.00 $8,800.00
Economic Development G 150-20200 Accounts Payable -$6,337.11 $6,337.11 $0.00 $0.00
Economic Development G 150-20201 Salaries Payable -$718.83 $718.83 $0.00 $0.00
Economic Development G 150-22204 Deferred Inflow of Resources -$597.94 $597.94 $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 -$91,206.50 $51,351.11 $60,649.01 -$100,504.40
$0.00 $112,598.06 $112,598.06 $0.00FUND 150 Economic Development
FUND 153 TIF 4-1 Fortitude Senior Apts
TIF 4-1 Fortitude Senior G 153-10100 Cash $16,793.60 $24,473.98 $1,559.18 $39,708.40
TIF 4-1 Fortitude Senior G 153-10450 Interest Receivable $41.54 $0.00 $41.54 $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 -$16,835.14 $1,600.72 $24,473.98 -$39,708.40
$0.00 $26,074.70 $26,074.70 $0.00FUND 153 TIF 4-1 Fortitude Senior Apts
FUND 157 TIF 2-1 Millstream
TIF 2-1 Millstream G 157-10100 Cash $36,109.62 $16,846.46 $2,173.69 $50,782.39
TIF 2-1 Millstream G 157-10450 Interest Receivable $101.75 $0.00 $101.75 $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 -$36,211.37 $2,275.44 $16,846.46 -$50,782.39
$0.00 $19,121.90 $19,121.90 $0.00FUND 157 TIF 2-1 Millstream
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
TIF 2-3 Bayou Blues/All G 159-10100 Cash $341.99 $13,971.51 $2,070.60 $12,242.90
TIF 2-3 Bayou Blues/All G 159-10450 Interest Receivable $12.21 $0.00 $12.21 $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 $0.00 $0.00 $0.00 $0.00
TIF 2-3 Bayou Blues/All G 159-20500 Due To Other Fund -$8,800.00 $0.00 $0.00 -$8,800.00
TIF 2-3 Bayou Blues/All G 159-25310 Unassigned Fund Balance $8,445.80 $2,082.81 $13,971.51 -$3,442.90
$0.00 $16,054.32 $16,054.32 $0.00FUND 159 TIF 2-3 Bayou Blues/Alley Flat
FUND 220 Lodging Tax
Lodging Tax G 220-10100 Cash $20,513.02 $5,425.51 $10,004.76 $15,933.77
Lodging Tax G 220-10450 Interest Receivable $55.61 $0.00 $55.61 $0.00
Lodging Tax G 220-10500 Accounts Receivable $808.92 $0.00 $808.92 $0.00
Lodging Tax G 220-20200 Accounts Payable -$76.50 $76.50 $0.00 $0.00
Lodging Tax G 220-25310 Unassigned Fund Balance -$21,301.05 $10,869.29 $5,502.01 -$15,933.77
$0.00 $16,371.30 $16,371.30 $0.00FUND 220 Lodging Tax
FUND 225 DEED CDAP Grant
DEED CDAP Grant G 225-10100 Cash $43,061.59 $2,273.72 $1,380.30 $43,955.01
DEED CDAP Grant G 225-10450 Interest Receivable $131.60 $0.00 $131.60 $0.00
DEED CDAP Grant G 225-25310 Unassigned Fund Balance -$43,193.19 $1,511.90 $2,273.72 -$43,955.01
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FUND Descr Account Descr Begin Yr YTDDebit YTDCredit CurrentBalance
Page 2
07/06/22 1:36 PM
EDA Balance Sheet
City of St. Joseph
Current Period: June 2022
$0.00 $3,785.62 $3,785.62 $0.00FUND 225 DEED CDAP Grant
FUND 250 Revolving Loan Fund
Revolving Loan Fund G 250-10100 Cash $402,926.68 $7,256.02 $11,682.77 $398,499.93
Revolving Loan Fund G 250-10450 Interest Receivable $626.60 $0.00 $626.60 $0.00
Revolving Loan Fund G 250-11900 Notes Receivable $67,430.15 $0.00 $67,430.15 $0.00
Revolving Loan Fund G 250-11910 Note Interest Receivable $35.29 $0.00 $35.29 $0.00
Revolving Loan Fund G 250-20200 Accounts Payable $0.00 $0.00 $0.00 $0.00
Revolving Loan Fund G 250-22204 Deferred Inflow of Resources -$67,210.43 $67,210.43 $0.00 $0.00
Revolving Loan Fund G 250-24415 Design. Fd Bal - Operations -$377,053.91 $0.00 $0.00 -$377,053.91
Revolving Loan Fund G 250-25310 Unassigned Fund Balance -$26,754.38 $12,564.38 $7,256.02 -$21,446.02
$0.00 $87,030.83 $87,030.83 $0.00FUND 250 Revolving Loan Fund
$0.00 $281,036.73 $281,036.73 $0.00
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2022 Capital Expenditures
General Fund Capital Improvement Plan ‐ EDA
EDA Recommended: August 17, 2021
Adopted December 6, 2021
12/31/2021
Available through 6/30 through 6/30
Project Project Reserve Budget Grants/Aids Spent 2022
Department Account Code Number Equipment Balance 2022 2022 2022 Balance
EDA 150-46500-582 EDA-1401 Computer Software 2,806.74 500.00 3,306.74
EDA 150-46500-588 EDA-1402 Business Development 524.00 25,000.00 8,440.78 17,083.22
RLF 250-46500-588 EDA-1402 Business Development 377,053.91 ‐ 377,053.91
377,577.91 25,000.00 ‐ 8,440.78 394,137.13
TOTAL EDA CIP 380,384.65 25,500.00 ‐ 8,440.78 397,443.87
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07/06/22 1:36 PM
EDA Expenditure Report
City of St. Joseph Page 1
Current Period: June 2022
Account Descr 2022YTD Budget June2022 Amt 2022YTD Amt
FUND 150 Economic Development
E 150-46500-101 Salaries $32,985.00 $3,789.09 $15,781.67
E 150-46500-103 Legislative Bodies $1,050.00 $0.00 $245.00
E 150-46500-121 PERA Contributions $2,475.00 $284.19 $1,183.66
E 150-46500-122 FICA Contributions $2,000.00 $233.41 $970.36
E 150-46500-123 Deferred Comp-Employer $455.00 $26.25 $113.75
E 150-46500-125 Medicare Contributions $465.00 $54.60 $226.97
E 150-46500-130 H S A- Employer Contribution $790.00 $393.75 $787.50
E 150-46500-131 Health Insurance $5,670.00 $416.06 $2,496.36
E 150-46500-132 Dental Insurance $445.00 $27.78 $166.68
E 150-46500-133 Life Insurance $30.00 $2.33 $13.98
E 150-46500-134 Disabilty Insurance $280.00 $22.30 $133.80
E 150-46500-151 Workers Comp. Insur. Prem. $190.00 $0.00 $0.00
E 150-46500-171 Clothing Allowance $0.00 $11.00 $0.00
E 150-46500-200 Office Supplies $300.00 $0.00 $68.91
E 150-46500-215 Software Support $1,455.00 $0.00 $1,307.49
E 150-46500-300 Professional Services $1,000.00 $232.58 $232.58
E 150-46500-303 Engineering Fee $1,000.00 $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 $1,720.00 $107.73 $681.13
E 150-46500-322 Postage $100.00 $0.00 $0.00
E 150-46500-328 Marketing $1,000.00 $0.00 $500.00
E 150-46500-331 Travel & Conference Expense $1,400.00 $0.00 $444.70
E 150-46500-340 Advertising $0.00 $79.20 $79.20
E 150-46500-420 Depreciation $0.00 $0.00 $0.00
E 150-46500-433 Dues & Memberships $5,295.00 $0.00 $0.00
E 150-46500-582 Computer Software $500.00 $0.00 $0.00
E 150-46500-588 EDA Programs $25,000.00 $3,000.00 $7,151.20
E 150-46500-622 TIF/Abatement Payments $35,000.00 $0.00 $0.00
E 150-49300-720 Transfers to Other Funds $4,000.00 $0.00 $0.00
$125,605.00 $8,680.27 $32,584.94FUND 150 Economic Development
FUND 153 TIF 4-1 Fortitude Senior Apts
E 153-46500-300 Professional Services $1,000.00 $1,000.00 $1,000.00
E 153-46500-301 Audit & Accounting Services $0.00 $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 $39.60 $39.60
E 153-46500-622 TIF/Abatement Payments $0.00 $0.00 $0.00
E 153-49300-720 Transfers to Other Funds $0.00 $0.00 $0.00
$1,055.00 $1,039.60 $1,039.60FUND 153 TIF 4-1 Fortitude Senior Apts
FUND 157 TIF 2-1 Millstream
E 157-46500-300 Professional Services $1,000.00 $1,000.00 $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 $39.60 $39.60
E 157-46500-622 TIF/Abatement Payments $0.00 $0.00 $0.00
E 157-49300-720 Transfers to Other Funds $0.00 $0.00 $0.00
$1,055.00 $1,039.60 $1,039.60FUND 157 TIF 2-1 Millstream
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
E 159-46500-300 Professional Services $1,000.00 $1,000.00 $2,000.00
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Account Descr 2022YTD Budget June2022 Amt 2022YTD Amt
Page 2
07/06/22 1:36 PM
EDA Expenditure Report
City of St. Joseph
Current Period: June 2022
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 $39.60 $39.60
E 159-46500-622 TIF/Abatement Payments $0.00 $0.00 $0.00
E 159-49300-720 Transfers to Other Funds $0.00 $0.00 $0.00
$1,055.00 $1,039.60 $2,039.60FUND 159 TIF 2-3 Bayou Blues/Alley Flat
FUND 220 Lodging Tax
E 220-46500-300 Professional Services $9,000.00 $1,500.00 $5,250.00
E 220-46500-308 Community Programs $0.00 $0.00 $0.00
E 220-46500-309 Visitors Bureau Photos/Videos $9,745.00 $0.00 $1,054.00
E 220-46500-310 IT Services $0.00 $0.00 $0.00
E 220-46500-311 Visitors Bureau Prizes $0.00 $0.00 $0.00
E 220-46500-313 Visitors Bureau Merchandise $0.00 $0.00 $0.00
E 220-46500-328 Marketing $3,500.00 $569.52 $3,035.69
E 220-46500-331 Travel & Conference Expense $0.00 $0.00 $0.00
E 220-46500-340 Advertising $1,555.00 $0.00 $0.00
$23,800.00 $2,069.52 $9,339.69FUND 220 Lodging Tax
FUND 225 DEED CDAP Grant
E 225-46500-300 Professional Services $0.00 $0.00 $0.00
E 225-46500-340 Advertising $0.00 $0.00 $0.00
E 225-46500-431 Annexation/Recording Fee $0.00 $0.00 $0.00
$0.00 $0.00 $0.00FUND 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
$152,570.00 $13,868.59 $46,043.43
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St. Joseph Economic Development Authority
Summary Treasurer's Report - Fund 150
June 2022
Fund 150, EDA Balance as of December 31, 2021 (Audited)91,206.50
Year to Date Revenue:Budget YTD Actual
Interest Earnings 1,020 (3,533.81)
TIF/MIF Deposit/Fee - 2,495.00
Abatement Reimbursement (School District)9,385 -
Ad Valorem Taxes 119,905 42,921.65
Total Revenue 130,310 41,882.84
Year to Date Expenditures by Object:
Board Stipends 1,050 (245.00)
Staff Salaries/Training 51,390 (22,319.43)
Workers Comp Premium 190 -
Software Support/Office Supplies 1,755 (1,376.40)
Professional Services 1,000 (232.58)
Legal/Engineering Fees 2,000 -
Telephone 1,720 (681.13)
Greater St. Cloud Development Investment 5,000 -
Advertising - (79.20)
Marketing 1,000 (500.00)
Abatement Payments (Country Manor)35,000 -
Computers 500 -
EDA Programs 25,000 (7,151.20)
Transfer to Other Funds - -
Total Expenses 125,605 (32,584.94)
Fund Summaries as of June 30, 2022:
EDA Fund Balance - Fund 150 - unaudited, cash balance 100,504.40
Designated for Capital Programs 20,389.96
Undesignated 80,114.44
TIF 4-1 Fortitude Senior Apts Fund Balance - Fund 153 39,708.40
TIF 2-1 Millstream Shops and Lofts Fund Balance - Fund 157 50,782.39
TIF 2-3 Bayou Blues & Alley Flats Fund Balance - Fund 159 (3,442.90)
Lodging Tax Fund Balance - Fund 220 15,933.77
DEED CDAP Grant Fund Balance - Fund 225 43,955.01
Revolving Loan Fund Balance - Fund 250 398,499.93
Designated for Revolving Loan Program 21,446.02
Designated for Economic Development 377,053.91
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07/06/22 1:36 PM
EDA Revenue Report
City of St. Joseph Page 1
Current Period: June 2022
Account Descr SOURC 2022YTD Budget June2022 Amt 2022YTD Amt
FUND 150 Economic Development
R 150-46500-31010 Current Ad Valorem Taxes 31010 $115,220.00 $42,921.65 $42,921.65
R 150-46500-33160 Federal Grants - Other 33160 $0.00 $0.00 $0.00
R 150-46500-34150 TIF/Abatement Deposit 34150 $0.00 -$1,505.00 $995.00
R 150-46500-34155 TIF/Abatement Fee 34155 $0.00 $0.00 $1,500.00
R 150-46500-34160 Tax Abatement Reimbursement 34160 $9,385.00 $0.00 $0.00
R 150-46500-36210 Interest Earnings 36210 $1,000.00 -$277.48 -$3,533.81
R 150-49302-36260 Surplus Property 36260 $0.00 $0.00 $0.00
R 150-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $0.00
$125,605.00 $41,139.17 $41,882.84FUND 150 Economic Development
FUND 153 TIF 4-1 Fortitude Senior Apts
R 153-46500-31050 Tax Increment 31050 $0.00 $24,473.98 $24,473.98
R 153-46500-36210 Interest Earnings 36210 $100.00 -$70.77 -$561.12
R 153-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $0.00
$100.00 $24,403.21 $23,912.86FUND 153 TIF 4-1 Fortitude Senior Apts
FUND 157 TIF 2-1 Millstream
R 157-46500-31050 Tax Increment 31050 $0.00 $16,846.46 $16,846.46
R 157-46500-36210 Interest Earnings 36210 $250.00 -$152.10 -$1,235.84
$250.00 $16,694.36 $15,610.62FUND 157 TIF 2-1 Millstream
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
R 159-46500-31050 Tax Increment 31050 $0.00 $13,968.26 $13,968.26
R 159-46500-36210 Interest Earnings 36210 $100.00 $2.97 -$39.96
R 159-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $0.00
$100.00 $13,971.23 $13,928.30FUND 159 TIF 2-3 Bayou Blues/Alley Flat
FUND 220 Lodging Tax
R 220-46500-31600 Lodging Tax 31600 $14,000.00 $1,908.02 $4,316.59
R 220-46500-33400 State Grants and Aids 33400 $0.00 $0.00 $0.00
R 220-46500-34406 Sponsorship Fee 34406 $4,000.00 $0.00 $0.00
R 220-46500-34409 Marketing 34409 $1,500.00 $75.00 $300.00
R 220-46500-36210 Interest Earnings 36210 $300.00 -$67.99 -$644.18
R 220-46500-36230 Contributions - General 36230 $0.00 $0.00 $0.00
R 220-49302-39201 Transfers from Other Funds 39201 $4,000.00 $0.00 $0.00
$23,800.00 $1,915.03 $3,972.41FUND 220 Lodging Tax
FUND 225 DEED CDAP Grant
R 225-46500-34200 DEED Housing Reimbursement 34200 $0.00 $0.00 $2,273.72
R 225-46500-36210 Interest Earnings 36210 $300.00 -$191.13 -$1,511.90
R 225-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $0.00
$300.00 -$191.13 $761.82FUND 225 DEED CDAP Grant
FUND 250 Revolving Loan Fund
R 250-46500-36210 Interest Earnings 36210 $1,500.00 -$1,721.98 -$12,309.37
R 250-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $0.00
R 250-46500-39320 Loan Principal 39320 $12,665.00 $1,329.16 $6,069.68
R 250-46500-39321 Loan Interest 39321 $1,720.00 $204.89 $931.33
R 250-46500-39322 Loan Origination Fee 39322 $0.00 $0.00 $0.00
$15,885.00 -$187.93 -$5,308.36FUND 250 Revolving Loan Fund
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Account Descr SOURC 2022YTD Budget June2022 Amt 2022YTD Amt
Page 2
07/06/22 1:36 PM
EDA Revenue Report
City of St. Joseph
Current Period: June 2022
$166,040.00 $97,743.94 $94,760.49
12
CVB 2022 Financial Summary
As of June 30, 2022
Beginning Fund Balance 1‐1‐22 (audited)21,301.05$
Budget YTD Rev Budget
Customer 2022 2022 Customer 2023
Interest Earnings 300.00$ (644.18)$ Interest Earnings 300.00$
T‐shirt/Hats/Merchandise Sales 1,500.00 300.00 T‐shirt/Hats/Merchandise Sales 1,000.00
Sponsorship dues 4,000.00 Rodeway Inn Lodging Tax 10,500.00
EDA Transfer ‐ Sponsorship Match 4,000.00 CSB Lodging Tax 4,100.00
Rodeway Inn Lodging Tax 10,000.00 3,617.59 Estates B&B Lodging Tax 1,100.00
CSB Lodging Tax 3,300.00 ‐ 17,000.00$
Estates B&B Lodging Tax 700.00 699.00
23,800.00$ 3,972.41$ Budget
Vendor 2023
Budget YTD Exp Professional Services ‐ Manage Social Media (Bruno Pr 9,000.00$
Vendor 2022 2022 Travel & Conference Expenses
Professional Services ‐ Manage Social Media (Bruno Press)9,000.00$ 5,250.00$ IT Services ‐ Website/Social Media 600.00
Visitor's Bureau ‐ Rubinski Works ‐ Videos 2,100.00 ‐ Visitor's Bureau ‐ Rubinski Works ‐ Videos
Visitor's Bureau ‐ Rubinski Works ‐ Videos 300.00 Visitor's Bureau ‐ Photos
Visitor's Bureau ‐ Website/Joetownmn.com Hosting 1,745.00 529.00 Community Programs ‐ Shop Small/Winterwalk
Visitor's Bureau ‐ Shop Small/Winterwalk Postcards 500.00 Visitors Bureau Prizes ‐ Swag Give‐Aways/Prizes
Visitor's Bureau ‐ Photos 10.00 Marketing ‐ SHRPA
Visitors Bureau ‐ Photo Contest Prizes 190.00 190.00 Marketing ‐ Campaigns
Visitor's Bureau ‐ Bike Racks 1,000.00 Visitor's Bureau ‐ Merchandise (Krillan/Rambow)1,000.00
Visitor's Bureau ‐ Wobegon Trailhead Maps/Signage**2,900.00 569.52 Advertise ‐ Think Tourism USA 775.00
Marketing ‐ Additional with Sponsorship Fees 2,000.00 Advertise ‐ MN Trails Magazine 780.00
Marketing ‐ SHRPA ‐ Advertise ‐ Newcomer Service Magazine 200.00
Marketing ‐ Feel The Love Campaign 1,000.00 1,000.00 12,355.00$
Marketing ‐ Merchandise Sales (Krillan/Rambow)1,500.00 346.17
Advertise ‐ Think Tourism USA 775.00 775.00
Advertise ‐ MN Trails Magazine 580.00 680.00
Advertise ‐ Newcomer Service Magazine 200.00
23,800.00$ 9,339.69$
Ending Cash Balance 6‐30‐22 15,933.77$
** Propose trailhead sign to be paid for with fund 390 ‐ balance from City welcome signs project
EDA Fund 150 Budget:
2022 Website Update 3,151.20$
2022 Explore MN Grant ‐$
3,151.20$
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EDA Agenda Item 6
________________________
MEETING DATE: July 18, 2022
AGENDA ITEM: 2023 EDA Budget Requests
SUBMITTED BY: Finance and Community Development
BOARD/COMMISSION/COMMITTEE/COUNCIL RECOMMENDATION: N/A
PREVIOUS EDA ACTION: None
BACKGROUND INFORMATION: Each summer staff requests the EDA to recommend
budget proposals for 2023. The EDA is mainly funded by general levy. The preliminary general
levy is required to be adopted by Sept. 30th each year. City Council requests input from staff, boards, committees, etc. to be included in the following year budget. Ultimately, City Council will determine priorities to include in the budget before final adoption by Dec. 28th of each year.
The EDA supports 40% of the Community Development Director’s salary and benefits. The remaining portion is included in the planning budget. Other items included in the EDA budget includes dues and memberships, conferences, abatement payments for Trobec’s and Country Manor, and economic development initiatives. For discussion, staff has the following points to go over with the EDA.
1. Membership participation in the St. Cloud Development Corporation (SCDC) at a cost of$5,000. Patti Gartland from GSDC will be attending the August 16th meeting to provide
an overview of the GSDC and help answer questions.2. Economic development initiatives:a.Boutique Hotel. Staff would like to utilize marketing dollars to develop a visual
and handout outlining the vision of the boutique hotel. This can help garner
support and enthusiasm towards the project during discussions with potentialdevelopers. Staff would also like to allocate some dollars towards securing Rightsof First Refusal.
b.JR Mobile Site. Dollars could be allocated towards potential purchase. Staff will
have more updates at meeting as Council will be discussing this at July 18th
meeting.c.Demolition Grants. Keeping the program at its current $3,500 maximum rated.Façade Grants. Keeping the program at its current $2,000 maximum rate
e. Others?BUDGET/FISCAL IMPACT: Request for 2023 Budget
ATTACHMENTS: Request for EDA Action – 2023 Budget Discussion
REQUESTED BOARD ACTION: Provide recommendations for the EDA 2023 Budget
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EDA Agenda Items 5, 7, 8
MEETING DATE: July 19th, 2022
AGENDA ITEM:
5.CVB Budget7. JR Mobile8.Business Development, EDA Priorities
PREVIOUS BOARD ACTION: 5-discussion at the June meeting regarding allowing CVB to give swag away to help aid inpromotions/brand awareness. No discussion on 2023 budget.7 – verbal updates provided past several months8 – verbal updates provided at every meeting
BACKGROUND INFORMATION:
5 – CVB Swag giveaway and 2023 Budget Swag giveaway – The CVB is asking the EDA support a maximum of up to $200 worth of swag giveaway. When the CVB
first started 5-10 hats/t-shirts were given away to help promote the brand and bring awareness. There were also opportunities after the first year for continued merchandise promotions. This practice was discontinued when all merchandise was moved to one central location (MN St Market). Various things come up throughout the year which may provide good opportunities to give the apparel away. Photo contests, conferences, etc. Therefore, the CVB is asking EDA support the $200 allowance towards merchandise giveaways. Staff’s only concern is ensuring any merchandise which is given away is taken from City Hall and communication occurs with staff prior to picking up the giveaway materials.
2023 Budget CVB had discussion at their July 11th meeting on budget items (Mary was not able to attend). They mentioned:
doing an event in Q1 and June or July
additional promotion opportunities including paid advertisement.The estimated budget for 2023 is $17,000. This estimate is based on projected lodging tax collections
with $12,355 being allocated for. A large percentage of this current allocation goes toward the stipend for Mary Bruno who manages CVB initiatives, website, and social media pages. The remaining money can go towards an Q1 event, additional promotion opportunities and other initiatives. Since Mary wasn’t at
the July 11th meeting additional discussion with her will need to occur. At present the CVB is estimated to stay within the $17,000 budget limit. In addition, the city received a grant from Explore MN which has $4,900+ remaining. Whatever is not used for this grant can be tapped into up to February of next year.
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7 – JR Mobile Owner has applied for and been issued a permit for interior remodel work. Work has started on-site and
the lean-to structure in the rear which was collapsing has been removed. Staff met with the owner regarding potential purchase options. Council is discussing purchase at their July 18th meeting so staff will provide additional verbal updates at meeting.
8 – Business/Development, EDA Priorities Staff will provide verbal update on various Business/Development updates.
Boutique hotel - Staff met with a local developer on the Boutique hotel concept. Great discussion occurred and lots of insight was gathered on potential properties/sites where this concept would work. Staff would like to ask EDA to schedule a work session before or after the August meeting. Intent of this work session would be to talk about potential sites for the Boutique hotel. This will help staff
formulate the vision of the hotel, secure rights of first refusal and engage in strategic discussions.
BUDGET/FISCAL IMPACT: 5 – impact of no more then $200 towards swag giveaways. 7 - TBD
ATTACHMENTS: EDA and CVB Financials
REQUESTED BOARD ACTION: 5 – Motion to approve CVB to allocate no more then $200 worth of swag giveaway this year and in 2023. 7 – none just informational 8 – Motion to conduct work session before or immediately after the August 16th meeting.
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