HomeMy WebLinkAbout12_20_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 Tuesday, December 20th, 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 October 18th, 2022
b.Financial Report –SEPT - NOV
5.EDA Finance Team
6.2022 BR&E recap and 2023 strategy
7.2023 Priorities
8.JR Mobile
9.General Business/Development update
10.Board Member Announcements
11. Adjourn
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11
October 18th, 2022 Page 1 of 1
Pursuant to due call and notice thereof, the St. Joseph Economic Development Authority met on Tuesday, October 18th, 2022 at 12:00 PM.
Members Present: Board Members Dale Wick, Rick Schultz, Larry Hosch
Members Absent: Joe Bye, Kevin Kluesner
City Representatives Present: Community Development Director Nate Keller
Schultz called the St. Joseph Economic Development Authority meeting to order at 12:01 PM
Public Comments None
Agenda Approval: Schultz made a motion to approve the agenda as presented; seconded by Wick and passed unanimously by those present.
Consent Agenda: Wick made a motion to approve the consent agenda as follows; seconded by Schultz and passed unanimously by those present. a. Minutes - Approve the minutes of September 20th, 2002 WITH CORRECTION ON FAÇADEGRANT MOTION MADE BY WICK NOT BYEb.Financial Report – JULY AND AUGUST
Industrial Park Discussion – Cory Ehlert Mr. Ehlert provided a synopsis of the latest status on various lots in the Industrial park. Discussion was had on: Westwood Parkway, future Transload station, inquiries, properties North of Westwood Parkway and various marketing ideas. Ehlert asked the Board to consider partnering on some marketing initiatives. Hosch commented that the city has partnered on marketing initiatives with other business/industrial parks like the Buettner Business Park.
JR Mobile Update Keller updated the Board on the status of the site. Property has been listed for sale by owner and Attorney has issued an Order for Repair/Removal which will be delivered by Sheriff’s Office.
Business/Development, EDA priorities Keller updated EDA on: Boutique hotel discussions, Industrial Park inquires, CMBA event in early October, Pine and Fiber Retention visit, Distillery which plans to open in the Summer, Interim City Administrator, Council approval of GOV HR for recruitment of City Administrator position, CVB Billboard advertisement, Winterwalk Banner approval, Dollar General, and a highlight of permit activities in 2022 compared to 2021.
Board Member Announcements None
Adjourn: Wick made a motion to adjourn the meeting at 12:51 PM, seconded by Schultz and passed unanimously by those present.
Nate Keller Community Development Director
22
EDA Agenda Item 4b
______________________
MEETING DATE: December 20, 2022
AGENDA ITEM: September - November 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 November 30, 2022. The ending
undesignated balance shows a surplus of $55,080. The designated project balance is $14,140 for
economic development programs. The designation for capital programs includes the 2022 budget. The
budget is paid for with tax proceeds. The first half taxes were received. 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 $400,465 on
November 30st, including $377,054 reserved balance from the EDA fund to be used for future economic
development projects; $23,411 is available from the State’s RLF fund for future loan requests.
The Lodging Tax fund has a balance of $19,726 on November 30st. 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 September - November financial reports.
33
St. Joseph Economic Development Authority
Summary Treasurer's Report - Fund 150
November 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 (4,449.90)
TIF/MIF Deposit/Fee - (630.00)
Abatement Reimbursement (School District)9,385 4,691.00
Ad Valorem Taxes 119,905 62,735.55
Total Revenue 130,310 62,346.65
Year to Date Expenditures by Object:
Board Stipends 1,050 (595.00)
Staff Salaries/Training 51,390 (40,746.92)
Workers Comp Premium 190 (143.50)
Software Support/Office Supplies 1,755 (1,376.40)
Professional Services 1,000 (9,232.58)
Legal/Engineering Fees 2,000 (1,080.00)
Telephone 1,720 (1,233.67)
Greater St. Cloud Development Investment 5,000 -
Advertising - (79.20)
Marketing 1,000 (500.00)
Abatement Payments (Country Manor)35,000 (18,194.54)
Computers 500 -
EDA Programs 25,000 (11,151.20)
Transfer to Other Funds - -
Total Expenses 125,605 (84,333.01)
Fund Summaries as of November 30, 2022:
EDA Fund Balance - Fund 150 - unaudited, cash balance 69,220.14
Designated for Capital Programs 14,140.22
Undesignated 55,079.92
TIF 4-1 Fortitude Senior Apts Fund Balance - Fund 153 18,423.39
TIF 2-1 Millstream Shops and Lofts Fund Balance - Fund 157 35,893.39
TIF 2-3 Bayou Blues & Alley Flats Fund Balance - Fund 159 (8,684.23)
Lodging Tax Fund Balance - Fund 220 19,726.12
DEED CDAP Grant Fund Balance - Fund 225 53,236.51
Revolving Loan Fund Balance - Fund 250 400,464.67
Designated for Revolving Loan Program 23,410.76
Designated for Economic Development 377,053.91
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12/09/22 11:35 AM
EDA Revenue Report
STJOSEPH, MN Page 1
Current Period: November 2022
Account Descr SOURC 2022YTD Budget November2022 Amt 2022YTD Amt
FUND 150 Economic Development
R 150-46500-31010 Current Ad Valorem Taxes 31010 $115,220.00 $0.00 $62,735.55
R 150-46500-33160 Federal Grants - Other 33160 $0.00 $0.00 $0.00
R 150-46500-34150 TIF/Abatement Deposit 34150 $0.00 $0.00 -$2,130.00
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 $4,691.00
R 150-46500-36210 Interest Earnings 36210 $1,000.00 $177.06 -$4,449.90
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 $177.06 $62,346.65FUND 150 Economic Development
FUND 153 TIF 4-1 Fortitude Senior Apts
R 153-46500-31050 Tax Increment 31050 $0.00 $0.00 $34,962.83
R 153-46500-36210 Interest Earnings 36210 $100.00 $45.63 -$819.64
R 153-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $0.00
$100.00 $45.63 $34,143.19FUND 153 TIF 4-1 Fortitude Senior Apts
FUND 157 TIF 2-1 Millstream
R 157-46500-31050 Tax Increment 31050 $0.00 $0.00 $24,066.37
R 157-46500-36210 Interest Earnings 36210 $250.00 $88.82 -$1,651.43
$250.00 $88.82 $22,414.94FUND 157 TIF 2-1 Millstream
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
R 159-46500-31050 Tax Increment 31050 $0.00 $0.00 $19,954.64
R 159-46500-36210 Interest Earnings 36210 $100.00 $0.39 -$166.44
$100.00 $0.39 $19,788.20FUND 159 TIF 2-3 Bayou Blues/Alley Flat
FUND 220 Lodging Tax
R 220-46500-31600 Lodging Tax 31600 $14,000.00 $1,371.59 $14,651.17
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 $93.75 $1,087.50
R 220-46500-36210 Interest Earnings 36210 $300.00 $49.46 -$803.82
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 $1,514.80 $14,934.85FUND 220 Lodging Tax
FUND 225 DEED CDAP Grant
R 225-46500-34200 DEED Housing Reimbursement 34200 $0.00 $0.00 $12,861.15
R 225-46500-36210 Interest Earnings 36210 $300.00 $114.63 -$1,943.83
R 225-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $0.00
$300.00 $114.63 $10,917.32FUND 225 DEED CDAP Grant
FUND 250 Revolving Loan Fund
R 250-46500-36210 Interest Earnings 36210 $1,500.00 $984.52 -$16,363.24
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 $1,061.40 $11,350.28
R 250-46500-39321 Loan Interest 39321 $1,720.00 $142.32 $1,669.34
R 250-46500-39322 Loan Origination Fee 39322 $0.00 $0.00 $0.00
$15,885.00 $2,188.24 -$3,343.62FUND 250 Revolving Loan Fund
$166,040.00 $4,129.57 $161,201.53
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12/09/22 11:34 AM
EDA Balance Sheet
STJOSEPH, MN Page 1
Current Period: November 2022
FUND Descr Account Descr Begin Yr YTDDebit YTDCredit CurrentBalance
FUND 150 Economic Development
Economic Development G 150-10100 Cash $82,443.78 $78,388.69 $100,412.33 $60,420.14
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 - Delinque $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 $107,430.99 $85,444.63 -$69,220.14
$0.00 $193,473.56 $193,473.56 $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 $35,046.57 $33,416.78 $18,423.39
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 $33,458.32 $35,046.57 -$18,423.39
$0.00 $68,504.89 $68,504.89 $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 $24,218.90 $24,435.13 $35,893.39
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 $24,536.88 $24,218.90 -$35,893.39
$0.00 $48,755.78 $48,755.78 $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 $19,964.00 $20,190.22 $115.77
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 $20,202.43 $19,964.00 $8,684.23
$0.00 $40,166.43 $40,166.43 $0.00FUND 159 TIF 2-3 Bayou Blues/Alley Flat
FUND 220 Lodging Tax
Lodging Tax G 220-10100 Cash $20,513.02 $16,647.86 $17,434.76 $19,726.12
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 $18,299.29 $16,724.36 -$19,726.12
$0.00 $35,023.65 $35,023.65 $0.00FUND 220 Lodging Tax
FUND 225 DEED CDAP Grant
DEED CDAP Grant G 225-10100 Cash $43,061.59 $13,045.39 $2,870.47 $53,236.51
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 $3,002.07 $13,045.39 -$53,236.51
66
FUND Descr Account Descr Begin Yr YTDDebit YTDCredit CurrentBalance
Page 2
12/09/22 11:34 AM
EDA Balance Sheet
STJOSEPH, MN
Current Period: November 2022
$0.00 $16,047.46 $16,047.46 $0.00FUND 225 DEED CDAP Grant
FUND 250 Revolving Loan Fund
Revolving Loan Fund G 250-10100 Cash $402,926.68 $14,888.15 $17,350.16 $400,464.67
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 $18,231.77 $14,888.15 -$23,410.76
$0.00 $100,330.35 $100,330.35 $0.00FUND 250 Revolving Loan Fund
$0.00 $502,302.12 $502,302.12 $0.00
77
2022 Capital Expenditures
General Fund Capital Improvement Plan ‐ EDA
EDA Recommended: August 17, 2021
Adopted December 6, 2021
12/31/2021
Available through 11/30 through 11/30
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 11,383.78 14,140.22
RLF 250-46500-588 EDA-1402 Business Development 377,053.91 ‐ 377,053.91
377,577.91 25,000.00 ‐ 11,383.78 391,194.13
TOTAL EDA CIP 380,384.65 25,500.00 ‐ 11,383.78 394,500.87
BFA Grants Awarded in 2022:Grant Match $Project
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12/09/22 11:34 AM
EDA Expenditure Report
STJOSEPH, MN Page 1
Current Period: November 2022
Account Descr 2022YTD Budget November2022 Amt 2022YTD Amt
FUND 150 Economic Development
E 150-46500-101 Salaries $32,985.00 $3,789.09 $29,675.00
E 150-46500-103 Legislative Bodies $1,050.00 $0.00 $595.00
E 150-46500-121 PERA Contributions $2,475.00 $284.19 $2,225.69
E 150-46500-122 FICA Contributions $2,000.00 $233.41 $1,824.17
E 150-46500-123 Deferred Comp-Employer $455.00 $26.25 $210.00
E 150-46500-125 Medicare Contributions $465.00 $54.60 $426.69
E 150-46500-130 H S A- Employer Contribution $790.00 $0.00 $787.50
E 150-46500-131 Health Insurance $5,670.00 $416.06 $4,576.66
E 150-46500-132 Dental Insurance $445.00 $27.78 $305.58
E 150-46500-133 Life Insurance $30.00 $2.33 $25.63
E 150-46500-134 Disabilty Insurance $280.00 $22.30 $245.30
E 150-46500-151 Workers Comp. Insur. Prem. $190.00 $0.00 $143.50
E 150-46500-171 Clothing Allowance $0.00 $0.00 $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 $0.00 $9,232.58
E 150-46500-303 Engineering Fee $1,000.00 $0.00 $0.00
E 150-46500-304 Legal Fees $1,000.00 $297.50 $1,080.00
E 150-46500-308 Community Programs $0.00 $0.00 $0.00
E 150-46500-321 Telephone $1,720.00 $110.75 $1,233.67
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 $0.00 $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 $0.00 $11,151.20
E 150-46500-622 TIF/Abatement Payments $35,000.00 $0.00 $18,194.54
E 150-49300-720 Transfers to Other Funds $4,000.00 $0.00 $0.00
$125,605.00 $5,264.26 $84,333.01FUND 150 Economic Development
FUND 153 TIF 4-1 Fortitude Senior Apts
E 153-46500-300 Professional Services $1,000.00 $0.00 $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 $48.79
E 153-46500-340 Advertising $55.00 $0.00 $39.60
E 153-46500-622 TIF/Abatement Payments $0.00 $0.00 $31,466.55
E 153-49300-720 Transfers to Other Funds $0.00 $0.00 $0.00
$1,055.00 $0.00 $32,554.94FUND 153 TIF 4-1 Fortitude Senior Apts
FUND 157 TIF 2-1 Millstream
E 157-46500-300 Professional Services $1,000.00 $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 $33.59
E 157-46500-340 Advertising $55.00 $0.00 $39.60
E 157-46500-622 TIF/Abatement Payments $0.00 $0.00 $21,659.73
E 157-49300-720 Transfers to Other Funds $0.00 $0.00 $0.00
$1,055.00 $0.00 $22,732.92FUND 157 TIF 2-1 Millstream
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
E 159-46500-300 Professional Services $1,000.00 $0.00 $2,000.00
99
Account Descr 2022YTD Budget November2022 Amt 2022YTD Amt
Page 2
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EDA Expenditure Report
STJOSEPH, MN
Current Period: November 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 $27.85
E 159-46500-340 Advertising $55.00 $0.00 $39.60
E 159-46500-622 TIF/Abatement Payments $0.00 $0.00 $17,959.18
E 159-49300-720 Transfers to Other Funds $0.00 $0.00 $0.00
$1,055.00 $0.00 $20,026.63FUND 159 TIF 2-3 Bayou Blues/Alley Flat
FUND 220 Lodging Tax
E 220-46500-300 Professional Services $9,000.00 $750.00 $8,250.00
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 $1,354.00
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 -$25.60 $678.40
E 220-46500-328 Marketing $3,500.00 $1,725.00 $6,227.38
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 $2,449.40 $16,509.78FUND 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 $184.00 $184.00
E 225-46500-431 Annexation/Recording Fee $0.00 $0.00 $690.00
$0.00 $184.00 $874.00FUND 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 $7,897.66 $177,031.28
1010
CVB 2022 Financial Summary
As of September 30, 2022
Beginning Fund Balance 1‐1‐22 (audited)21,301.05$
Budget YTD Rev Budget
Customer 2022 2022 Customer 2023
Interest Earnings 300.00$ (803.82)$ Interest Earnings 300.00$
T‐shirt/Hats/Merchandise Sales 1,500.00 1,087.50 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 10,135.37 Estates B&B Lodging Tax 1,100.00
CSB Lodging Tax 3,300.00 3,332.19 17,000.00$
Estates B&B Lodging Tax 700.00 1,183.61
23,800.00$ 14,934.85$ Budget
Vendor 2023
Budget YTD Exp Professional Services ‐ Manage Social Media (Bruno Press)9,000.00$
Vendor 2022 2022 Travel & Conference Expenses ‐$
Professional Services ‐ Manage Social Media (Bruno Press)9,000.00$ 8,250.00$ IT Services ‐ Website/Social Media 600.00
Visitor's Bureau ‐ Rubinski Works ‐ Videos 2,100.00 ‐ Visitor's Bureau ‐ Rubinski Works ‐ Videos 500.00
Visitor's Bureau ‐ Rubinski Works ‐ Videos 300.00 Visitor's Bureau ‐ Photos 500.00
Visitor's Bureau ‐ Website/Joetownmn.com Hosting 1,745.00 529.00 Community Programs ‐ Shop Small/Winterwalk/Feb/June 1,945.00
Visitor's Bureau ‐ Shop Small/Winterwalk Postcards 500.00 ‐ Visitors Bureau Prizes ‐ Swag Give‐Aways/Prizes 200.00
Visitor's Bureau ‐ Photos 10.00 ‐ Marketing ‐ SHRPA 500.00
Visitors Bureau ‐ Photo Contest Prizes 190.00 190.00 Marketing ‐ Campaigns 1,000.00
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 2,036.21 Advertise ‐ Think Tourism USA 775.00
Marketing ‐ Additional with Sponsorship Fees 2,000.00 ‐ Advertise ‐ MN Trails Magazine 780.00
Marketing ‐ Billboard Advertising (Shop Small)‐ 1,725.00 Advertise ‐ Newcomer Service Magazine 200.00
Marketing ‐ SHRPA ‐ ‐ 17,000.00$
Marketing ‐ Feel The Love Campaign 1,000.00 1,000.00
Marketing ‐ Merchandise Sales (Krillan/Rambow)1,500.00 1,024.57
Advertise ‐ Think Tourism USA 775.00 775.00
Advertise ‐ MN Trails Magazine 580.00 680.00
Advertise ‐ Newcomer Service Magazine/Entertainment Dir.200.00 600.00
23,800.00$ 16,809.78$
Ending Cash Balance 11‐30‐22 19,426.12$
** 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 (500.00)$
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EDA Agenda Items 5 - 9
MEETING DATE: December 20th, 2022
AGENDA ITEM: 5. EDA Finance Team6. 2022 BR&E recap and 2023 strategy7. 2023 Priorities
8. JR Mobile9. General Business/Development update
PREVIOUS BOARD ACTION: 5 – no formal action 6 – none
7 – Boutique hotel and redevelopment of downtown were prioritized
BACKGROUND INFORMATION: 5 – EDA Finance Team Staff would like EDA to nominate two members to serve on the Finance Team. The members along with staff (Lori and Nate) would review and provide recommendation on any loan applications. Members would serve in this capacity for 2023. Finance team only meets as needed.
6 – 2022 BR&E recap and 2023 strategy 2022 BR&E visits completed Business Date
Jolie Ollies 01/31/22
Gohman Construction 02/07/22
Hedtke Insurance Mid-January
St. Joseph Mutual Insurance 02/17/22 Weathered Rivals 03/01/22 Estates B&B 03/22/22 Rockhouse Productions 03/31/22
Sunset Manufacturing 07/19/22
Bad Habit 07/21/22
Pine and Fiber CO 10/05/22
Krewe + Flower and Flour 10/21/22 Sal’s Bar and Grill 03/10/22 Country Manor Woodcrest 04/18/22
Floral Arts Late Sept.
14 formal BR&E visits + dozens of other informal visits and "check-in's" completed in 2022.
Staff would like to hear suggestions for BR&E visits for 2023 (specific businesses or ideas)
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7 – 2023 Priorities EDA has identified Boutique hotel and redevelopment of downtown area as top priorities. Staff would
like input for 2023. Both downtown redevelopment and Boutique hotel continue to progress very well. Staff will provide more background at meeting.
8 – JR Mobile Verbal update will be provided.
9 – General Business/Development update Verbal update will be provided.
BUDGET/FISCAL IMPACT: No cost for any of the agenda items
ATTACHMENTS: None
REQUESTED BOARD ACTION: 5 – motion on two EDA members to serve on Finance Team for 2023 6 – recommendation on 2023 businesses to target for BR&E visits
7 – discussion on current priorities and 2023 priorities 8 – none 9 - none
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Meeting Dates 2023 (Dates subject to change) Jan 3rd, City Council 6:00 PM Jan 9th, CVB 12:00 PM Jan 9th, Planning Commission 6:00 PM Jan 17th, EDA 12:00 PM Jan 17th, City Council 6:00 PM
Jan 23th, Park Board 6:30 PM
Jan 24th, Council Work Session 5:30 PM
Feb 6th, City Council 6:00 PM
Feb 13th, CVB 12:00 PM Feb 13th, Fire Contract Mtg 5:00 PM Feb 13th, Planning Commission 6:00 PM Feb 21st, EDA 12:00 PM Feb 21st, City Council 6:00 PM Feb 27th, Park Board 6:30 PM
Mar 6th, City Council 6:00 PM
Mar 13th, CVB 12:00 PM
Mar 13th, Planning Commission 6:00 PM
Mar 20th, City Council 6:00 PM Mar 21st, EDA 12:00 PM Mar 27th, Park Board 6:30 PM Mar 28th, All City/Board 5:30 PM Apr 3rd, City Council 6:00 PM
Apr 10th, CVB 12:00 PM
Apr 10th, Planning Commission 6:00 PM
Apr 17th, City Council 6:00 PM
Apr 18th, EDA 12:00 PM
Apr 24th, Park Board 6:30 PM May 1st, City Council 6:00 PM May 8th, CVB 12:00 PM May 8th, Planning Commission 6:00 PM May 15th, City Council 6:00 PM
May 16th, EDA 12:00 PM
May 22nd, Park Board 6:30 PM
May 23rd, Council Work Session 5:30 PM
Jun 5th, City Council 6:00 PM
Jun 12th, CVB 12:00 PM Jun 12th, Planning Commission 6:00 PM Jun 19th, City Council 6:00 PM Jun 20th, EDA 12:00 PM Jun 26th, Park Board 6:30 PM
Jul 3rd, City Council 6:00 PM Jul 10th, CVB 12:00 PM Jul 10th, Planning Commission 6:00 PM Jul 17th, City Council 6:00 PM Jul 18th, EDA 12:00 PM
Jul 24th, Park Board 6:30 PM
Jul 25th, Council Work Session 5:30 PM
Aug 7th, City Council 6:00 PM
Aug 14th, CVB 12:00 PM Aug 14th, Fire Contract Mtg 5:00PM Aug 14th, Planning Commission 6:00 PM Aug 15th, EDA 12:00 PM Aug 21st, City Council 6:00 PM Aug 28th, Park Board 6:30 PM
Sep 5th, City Council 6:00 PM
Sep 11th, CVB 12:00 PM
Sep 11th, Planning Commission 6:00 PM
Sep 18th, City Council 6:00 PM Sep 19th, EDA 12:00 PM Sep 25th, Park Board 6:30 PM Sep 26th, Council Work Session 5:30 PM Oct 2nd, City Council 6:00 PM
Oct 9th, CVB 12:00 PM
Oct 9th, Planning Commission 6:00 PM
Oct 16th, City Council 6:00 PM
Oct 17th, EDA 12:00 PM
Oct 23rd, Park Board 6:30 PM Nov 6th, City Council 6:00 PM Nov 13th, CVB 12:00 PM Nov 13th, Planning Commission 6:00 PM Nov 20th, City Council 6:00 PM
Nov 21st, EDA 12:00 PM
Nov 27th, Park Board 6:30 PM
Nov 28th, Council Work Session 5:30 PM
Dec 4th, City Council 6:00 PM
Dec 11th, CVB 12:00 PM Dec 11th, Planning Commission 6:00 PM Dec 18th, City Council 6:00 PM Dec 19th, EDA 12:00 PM Dec 26th, Park Board 6:30 PM 14