HomeMy WebLinkAbout2006 [08] Aug 16
CITY Of ST. JOSEPH
www.cityo!stjoseph.com
Administrdtor
Judy Weyrens
St. Joseph Economic Development Authority
Meeting Notice
VVednesday,August16,2006
3:00 p.m. City Hall
MdYor
Richdrd Cdrlbom
1. Call to Order.
Councilors
AI Rdssier
Ross Rieke
Renee Symdnietz
Ddle Wick
2. Approval of Agenda.
3. Approval of Minutes.
a. July 19, 2006
4. Accounts Payable and Financial Report.
a. Approval of Accounts Payable
b. Approval of Financial Report
5. Business.
a. CSAH 75 Renewal Priorities
b. Business Retention and Expansion Program
c. TIF Reports
6. Director Report.
a. Prospect List/Activity Report.
7. Board Member Announcements.
8. Adjournment.
2 )" College Avenue North' PO Box 6 6 B . S din t . Joseph. M inn e sot d )" 6 , 74
Phone )2.0.,6,.7201 FdX )2.0.,6,.0,42
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CITY OF ST. JOSEPH
ECONOMIC DEVELOPMENT AUTHORiTY
Meeting Minutes - Wednesday, July 19, 2006
Present: EDA Board Members Ross Rieke, Carolyn Yaggie-Heinen and Tom Skahen.
Absent: Car1bom and Jacobson.
Also present: Cynthia Smith-Strack of Municipal Development Group.
Chairperson Rieke called the July 19, 2006 meeting of the S1. Joseph EDA to order at 3:05 p.m.
Agenda.
Chairperson Rieke introduced the agenda. Moved by Skahen seconded by Heinen to approve the
agenda.
Motion carried 3-0.
Approval of Minutes.
EDA Chairperson Rieke noted the minutes from the June 17, 2006 meeting were included in the packet.
Motion by Heinen, seconded by Skahen to approve the June 1ih, 2006 regular EDA minutes as
presented. Motion carried 3-0.
EDA Accounts Payable.
Rieke introduced the topic. Strack noted accounts payable for the month included invoice for contract
services in the amount of $2,152.86. The total hours provided through June 30th equal 200.25, on target
for the projected 420 hours of service for the year.
Motion by Skahen, second by Heinen to approve EDA accounts payable for the month of June 2006 in
the amount of $2,152.86. Motion carried 3-0.
Financial Report.
Rieke introduced the agenda item. Strack noted the June financial reports were contained in the packet.
Reports presented included: revenue, expense, check register and fund balance.
Motion by Heinen, second by Skahen to approve the June financial reports. Motion carried 3-0.
2007 Preliminarj Budget
Rieke introduced the 2007 preliminary budget discussion noting the City Council would be holding budget
meetings during the month of August in preparation for certification of the preliminary budget to the
County by mid-September.
Strack reviewed the budget worksheet with the EDA Board noting the following:
Fund 150: Operating Fund for the EDA: The 2007 budget is proposed to be increased from $37,500
in 2006 to $45,650 in 2007. The increase proposed is due to the inclusion of $8,000 for membership
dues to the St. Cloud Area Economic Development Partnership, a $1,000 increase for professional
services and a few nominal miscellaneous increases. The 2006 approved budget did not include
membership dues to the SCAEDP.
Fund 155: TIF Fund for 1-3: The anticipated revenues and expenses reflect TIF revenue received in
2006. The City, via development agreement, is required to reimburse the developer 95% of the
increment received.
EDAMinutes-July 19,2006
Page 1
_3
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Fund 156: TIF Fund 1-4: The anticipated revenues and expenditures are based on estimates. Actual
numbers are dependent on assessed market value. The TIF beneficiary did not enter into an
assessed market value agreement, therefore, the actual proceeds of the pay-as-you-go issue is less
than inclu<;led in the TIF budget included in the plan for 1-4.
Fund 250: Revolving Loan Fund. The projected revenue for the revolving loan fund in 2006 is based
on the amortization schedule for the Vicwest equipment loan. No expenses or loans have been
budgeted as the fund currently (end of July) has a balance of $24,000. The fund balance by the end
of calendar year 2007 should be over $42,000.
Strack stated the budget adopted in December may be less than the preliminary budget, but it may not be
higher than that certified in September.
The EDA discussed the proposed budget and a desire to budget for the acquisition of first rights of
refusal, property options, etc. to encourage renewal of areas with potential for redevelopment. The EDA
discussed budgeting for such uses in 2007 as a capital expense.
Motion Skahen, Second Heinen to Approve the Preliminary Budget with the Addition of $13,000 in a
Capital Improvement Fund for the Pursuit of a Redevelopment Program and Potential Land Acquisition.
Motion carried 3:0.
Transportation Study Updates
Rieke introduced the agenda topic. Strack reported there are three separate studies relating to
transportation currently underway: (1) Corridor Study - Field Street extension; (2) Corridor Study -
Northern east-west collector and extension of CSAH 3 to CSAH 2 and, (3) City transportation study
looking at future collector streets and/or extensions of or connections to existing streets.
Strack noted the Field Street study remained in the 'environmental review' phase. The Northern east-west
study was proceeding with two meetings scheduled on July 27th. Both meetings will have similar agendas
and will focus on gaining input regarding two alternatives for each the northern east-west corridor
(alternatives 1 & 2 on the attached map) and the projection of CSAH 3 to CSAH 2 (alternatives 3 & 4 on
the attached map). Perhaps of greatest significance to economic development within the City are the
alternatives 3 & 4 of the projection of CSAH 3 to CSAH 2 (e.g. truck traffic, local access, aesthetics from 1-
94). The City transportation study was initiated and a memo prepared and forwarded to the project
stakeholders group.
The EDA discussed the projects and noted a roundabout at the intersection of the projection of CSAH 3
to CSAH 2 was desirable. Rieke volunteered to attend the July 2ih meetings to represent the EDA.
Redevelopment TIF Area
Rieke introduced the agenda item. Strack stated the EDA and City Council approved a preliminary
application for the use of redevelopment tax increment financing in conjunction with a project proposed by
Collegeville Development. Staff met with Collegeville Development Group representatives and TIF plan
consultants to discuss the TIF Plan for Collegeville Development and potential boundaries for a municipal
redevelopment district area. The municipal redevelopment district area is proposed to include the area
identified which encompasses most of the CBD and a portion of the Highway 75 corridor renewal area.
The TIF plan for the Collegeville Development project is not proposed to include the entire municipal
redevelopment area, however, a map of the entire area will be included in the Plan. This will allow the
City/EDA to focus its use of redevelopment TIF in a specified area.
CSAH 75 Renewal Plan
Rieke introduced the business item and suggested the item be placed on hold and carried over to the
August meeting as Board Members had not completed an exercise to individually survey the corridor to
choose areas which could be identified as priorities for redevelopment.
EDA Minutes - July 19. 2006
Page 2
4
Director's Report.
Strack distributed a request for proposals for the production of a market. study by a qualified firm. The
market study will provide insight into S1. Joseph trade areas, the capacity of Downtown and CSAH 75 to
absorb additional retail and office uses and the types/densities of housing units most complimentary to
the Downtown area.
Strack noted an SCSU intern had been selected and would be starting an internship shortly.
Strack reported the plat for an additional 32 acres of industrial property was proceeding, an EAW for the
project was being conducted and the BDPI grant application had been submitted.
Board Member Announcements.
Rieke updated Board Members on the SCAEDP meeting held earlier in the day.
Adjournment
Motion by Skahen, seconded by Heinen to adjourn. Motion carried 3:0. Meeting adjourned at 4:10 p.m.
EDAMinutes-July 19,2006
Page 3
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.16
INVOICE
MUNICIPAL DEVELOPMENT GROUP, INC.
25562 WILLOW LANE
NEW PRAGUE, MN 56071
952-758-7399
FAX: 952-758-3711
mdg@bevcomm.net
City of St. Joseph
Attn: Judy Weyrens
City Administrator
PO 668
St. Joseph, MN 56374
Invoice Date 08-01-06 I Payment Terms: 30 days I Customer 10 #: ST J06ED I
Project July Economic Development Services
See attached detail
Amount: $1,820.00 Monthly contract fee-35 hrs
$ 332.86 748 miles x .445
$2,152.86
Code to: 150-46500-300 for general EDA
Remit To: Municipal Development Group, Inc.
25562 Willow Lane
New Prague, MN 56071
Dates-EDA
July 5, 2006 EDA Office Hours 9.25 hrs. C. Strack
July 12, 2006 EDA Office Hours 10.00 hrs C. Strack
July 14, 2006EDA Office Hours: MDG Office 2.25 hrs. C. Strack
July 19, 2006 EDA Office Hours 8.50 hrs. C. Strack
July 20,2006 EDA Hours: Urban Env. & Office Hrs 6.00 hrs. C. Strack
Total July, 2006 36.25 hours
Total MDG, Inc. 2006 Hours through July, 2006 = 236.50
Thank you! We appreciated the opportunity to work with you!
I Chec. k No.
Date:
Principal
7
CITY Of ST. JOSEPH
www.cityofstjoseph.com
DATE:
August 9, 2006
Administfdtor
ludy Weyrens
MEMO TO:
FROM:
S1. Joseph Economic Development Authority
Joanne Foust & Cynthia Smith-Strack, Municipal Development Group
MdYor
Richdfd Cctrlbom RE:
Accounts Payable - July 2006
July Financial Reports
Councilors
AI Rdssier
Ross Rieke
Renee Symdnietz
Ddle Wick
A. Accounts Payable:
Following are Accounts Payable for the EDA's Consideration.
Payable To
MDG, Inc.
MDG, Inc.
Total
For Fund
July Econ. Dev. Service 150-46500-300
TIF Reports to State Auditor
Amount
$ 2,152.86
$ 650.00
$ 2,802.86
Action:
A MOTION is in order to approve the Accounts Payable.
B. Financial Report:
July financial reports for the EDA are following. The reports consist of:
1. EDA revenue to date.
2. EDA expenditures to date.
3. Check Register.
4. Fund Balances (Econ Dev. 150, TIF 1-3 155, TIF 1-4 156 andRLF 250).
Action:
A MOTION is in order to approve the financial reports.
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2) College Avenue North' PO Box 668 . Sdint. joseph, Minnesotd )6,74
Phone 120.,6,.7201 Fdx ,20.,6.,.0142
City of St. Joseph
EDA Report
Page 1
July 31, 2006
2006 YTO July 2006
Account Oeser Budget 2006 Amt YTD Amt Balance
FUND 150 Economic Development
E 150-46500-103 Legislative Bodies $408.33 $0.00 $0.00 $408.33
E 150-46500-151 Workers Compo $58.33 $0.00 $0.00 $58.33
E 150-46500-200 Office Supplies $291.67 $0.00 $24.50 $267.17
E 150-46500-300 Professional $16,333.33 $2,152.86 $15,948.71 $384.62
E 150-46500-303 Engineering Fee $2,333.33 $0.00 $0.00 $2,333.33
E 150-46500-304 Legal Fees $583.33 $0.00 $72.50 $510.83
E 150-46500-321 Telephone $700.00 $39.44 $284.92 $415.08
E 150-46500-322 Postage $116.67 $0.00 $88.10 $28.57
E 150-46500-327 Tax Increment $0.00 $0.00 $0.00 $0.00
E 150-46500-331 Travel & $291 .67 $0.00 $73.77 $217.90
E 150-46500-340 Advertising $583.33 $0.00 $45.00 $538.33
E 150-46500-433 Dues & $0.00 $0.00 $8,000.00 -$8,000.00
E 150-46500-510 Land $0.00 $0.00 $0.00 $0.00
E 150-46500-582 Computer Software $175.00 $0.00 $0.00 $175.00
E 150-46500-587 Special Projects $0.00 $0.00 $0.00 $0.00
E 150-46500-700 Misc $0.00 $0.00 $0.00 $0,00
FUND 150 Economic Development $21,875.00 $2,192.30 $24,537.50 -$2,662.50
FUND 155 TIF 1-3 Borgert (SKN)
E 155-46500-300 Professional $545.42 $0.00 $500.00 $45.42
E 155-46500-327 Tax Increment $0.00 $0.00 $0.00 $0.00
E 155-46500-340 Advertising $29.17 $0.00 $0.00 $29.17
E 155-46500-600 Debt Service - $4,846.00 $10,563.57 $10,563.57 -$5,717.58
E 155-46500-611 Bond Interest $6,074.33 $0.00 $0.00 $6,074.33
E 155-46500-620 Agent Fees $0.00 $0.00 $0.00 $0.00
FUND 155 TIF 1-3 Borgert (SKN) $11,494.91 $10,563.57 $11,063.57 $431.34
FUND 156 TIF 1-4 St. Joe Development
E 156-46500-300 Professional $4,238.50 $0.00 $500.00 $3,738.50
E 156-46500-304 Legal Fees $0.00 $0.00 $0.00 $0.00
E 156-46500-327 Tax Increment $0.00 $0.00 $0.00 $0.00
E 156-46500-340 Advertising $50.00 $0.00 $0.00 $50.00
E 1 56-46500-600 Debt Service - $11,269.90 $25,061.33 $25,061.33 -$13,791.44
E 156-46500-611 Bond Interest $27,138.58 $0.00 $0.00 $27,138.58
E 156-46500-620 Agent Fees $0.00 $0.00 $0.00 $0.00
FUND 156 TIF 1-4 St. Joe Development $42,696.98 $25,061.33 $25,561.33 $17,135.65
FUND 250 Revolving Loan Fund
E 250-46500-304 Legal Fees $0.00 $0.00 $0.00 $0.00
E 250-46500-490 Revolving Loan $0.00 $0.00 $0.00 $0.00
FUND 250 Revolving Loan Fund $0.00 $0.00 $0.00 $0.00
$76,066.89 $37,817.20 $61,162.40 $14,904.49
q
City of St. Joseph
Page 1
EDA Revenues
July 31, 2006
YTO %
SOURCE SOURCE Oescr Budget Rev Revenue Balance of Budget
FUND 150 Economic Development
36210 Interest Earnings $0.00 $417.30 -$417.30 0.00%
36300 Reimbursement $0.00 $25,000.00 -$25,000.00 0.00%
39201 Transfers from Other $37,500.00 $0.00 $37,500.00 0.00%
FUND 150 EconomicDevelopment $37,500.00 $25,417.30 $12,082.70 67.78%
FUND 155 TIF 1-3 Borgert (SKN)
31050 Tax Increment $0.00 $11,119.55 -$11,119.55 0.00%
FUND 156 TIF 1-4 St. Joe Development
31050 Tax Increment $0.00 $27,845.92 -$27,845.92 0.00%
FUND 250 Revolving Loan Fund
36210 Interest Earnings $0.00 $466.86 -$466.86 0.00%
36212 CDAP Loan Interest $0.00 $465.14 -$465.14 0.00%
39312 CDAP Loan Proceeds $0.00 $4,949.30 -$4,949.30 0.00%
FUND 250 Revolving Loan Fund $0.00 $5,881.30 -$5,881.30 0.00%
$37,500.00 $70,264.07 -$32,764.07 187.37%
/V
City of St. Joseph
Page 1
EDA Expenditures
July 31, 2006
YTD %
OBJ OBJ Oeser Budget Exp Expense Balance of Budget
FUND 150 Economic Development
DEPART 46500.Economic Development Authority
103 Legislative Bodies $700.00 $0.00 $408.33 41 .67%
151 Workers Compo Insur. Premo $100.00 $0.00 $58.33 41.67%
200 Office Supplies $500.00 $24.50 $267.17 46.57%
300 Professional Services $28,000.00 $15,948.71 $384.62 98.63%
303 Engineering Fee $4,000.00 $0.00 $2,333.33 41.67%
304 Legal Fees $1,000.00 $72.50 $510.83 48.92%
321 Telephone $1,200.00 $284.92 $415.08 65.41%
322 Postage $200.00 $88.10 $28.57 85.72%
327 Tax Increment Certification $0.00 $0.00 $0.00 0.00%
331 Travel & Conference Expense $500.00 $73.77 $217.90 56.42%
340 Advertising $1,000.00 $45.00 $538.33 46.17%
433 Dues & Subscriptions $0.00 $8,000.00 -$8,000.00 0.00%
510 Land $0.00 $0.00 $0.00 0.00%
582 Computer Software $300.00 $0.00 $175.00 41.67%
587 Special Projects $0.00 $0.00 $0.00 0.00%
700 Misc $0.00 $0.00 $0.00 0.00%
DEPART 46500 Economic Development $37,500.00 $24,537.50 -$2,662.50 107.10%
FUND 150 Economic Development $37,500.00 $24,537.50 -$2,662.50 107.10%
FUND 155 TIF 1-3 Borgert (SKN)
DEPART 46500 Economic Development Authority
300 Professional Services $935.00 $500.00 $45.42 95.14%
327 Tax Increment Certification $0.00 $0.00 $0.00 0.00%
340 Advertising $50.00 $0.00 $29.17 41.67%
600 Debt Service - Principal $8,307.42 $10,563.57 -$5,717.58 168.82%
611 Bond Interest $10,413.14 $0.00 $6,074.33 41.67%
620 Agent Fees $0.00 $0.00 $0.00 0.00%
DEPART 46500 Economic Development $19,705.56 $11,063.57 $431.34 97.81%
DEPART 49301 Transfer to other Funds
700 Misc $0.00 $0.00 $0.00 0.00%
FUND 155 TIF 1-3 Borgert (SKN) $19,705.56 $11,063.57 $431.34 97.81 %
FUND 156 TIF 1-4 S1. Joe Development
DEPART 46500 Economic Development Authority
300 Professional Services $7,266.00 $500.00 $3,738.50 48.55%
304 Legal Fees $0.00 $0.00 $0.00 0.00%
327 Tax Increment Certification $0.00 $0.00 $0.00 0.00%
340 Advertising $50.00 $0.00 $50.00 0.00%
600 Debt Service - Principal $19,319.82 $25,061.33 -$13,791.44 171.38%
611 Bond Interest $46,523.28 $0.00 $27,138.58 41.67%
620 Agent Fees $0.00 $0.00 $0.00 0.00%
DEPART 46500 Economic Development $73,159.10 $25,561.33 $17,135.65 76.58%
FUND 156 TIF 1-481. Joe Development $73,159.10 $25,561.33 $17,135.65 76.58%
FUND 250 Revolving Loan Fund
DEPART 46500 Economic Development Authority
304 Legal Fees $0.00 $0.00 $0.00 0.00%
490 Revolving Loan $0.00 $0.00 $0.00 0.00%
DEPART 46500 Economic Development $0.00 $0.00 $0.00 0.00%
FUND 250 Revolving Loan Fund $0.00 $0.00 $0.00 0.00%
$130,364.66 $61,162.40 $14,904.49 88.57%
Ir
City of St. Joseph
EDA Check Register
July 31,2006
Page 1
Search Name CHECK # Comments FUND DEPART Amount
MUNICIPAL DEVELOPMENT CORP 037576 eda contract 150 46500 $2,152.86
TDS METROCOM 037585 telephone 150 46500 $39.44
BORGERT PRODUCTS, INC/SKN 037591 1st halfTlF 155 46500 $10,563.57
MINNWEST BANK 037592 1st halfTlF 156 46500 $25,061.33
$37,817.20
IL
CITY Of ST. JOSEPH
www.cityofstjoseph.com
Administrdtor
ludy Weyrens
DATE:
MEMO TO:
FROM:
August 9, 2006
Economic Development Authority
Cynthia Smith-Strack Municipal Development Group
RE:
CSAH 75 Corridor Renewal Project
MdYor
Richdrd Cdrlbom
Councilors
AI Rdssier
Ross Rieke
Renee Symdnietz
Ddle Wick
Background:
At the June EDA meeting, the Board discussed a draft corridor renewal plan for the first tier of
lots adjacent to CSAH 75 between 2nd Avenue NW and 3rd Avenue NE. Following thorough
review of the draft plan, the EDA members agreed to individually survey the corridor to choose
areas which could be identified as priorities for redevelopment.
Action:
EDA review and comment on information provided by Members of the Board.
;17
2." College Avenue North. PO Box bb8 . Sdint. Joseph, Minnesotd .,b,74
Phone ,2.0.,b,.72.01 FdX ,2.0.,b,.O,42.
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Administrdtor
Judy'Weyrens
MdYor
Richdrd Cdrlbom
Councilors
Al Rdssier
Ross Rieke
Renee Symdnietz
Ddle 'Wick
CITY OF ST. JOSEPH
www.cityofstjoseph.com
DATE:
August 9,2006
MEMO TO:
FROM:
RE:
~r
Economic Development Authority
Cynthia Smith-Strack Municipal Development Group
Business Retention and Expansion Program
Background:
As noted at the July EDA meeting, the City of St. Joseph, the Economic Development
Association of Minnesota and St. Cloud State University have created an internship opportunity
with the City of St. Joseph. The intern for the fall semester is Ms. Mai Neng Yang a Community
Development major from SCSU. Ms. Yang's immediate career goal involves a position in the
public sector relating to economic development.
One of the principal work items for the internship as defined in the position description was the
establishment of a local Business Retention and Expansion (BRE) Program. A BRE will assiste
the EDA in further defining the strengths and weaknesses of the local economy as identified
through a survey of existing businesses and workers.
Successful BRE programs can:
. Demonstrate to local businesses that the EDA/City appreciates their contribution to the
local economy
. Help existing businesses solve problems
. Develop strategic plans for long-range business retention and expansion activities
. Build community capacity to sustain growth and development
A four stage process is typical for the BRE, including:
Stage 4:
Present/Implement
Stage 3:
Data Analysis/Plan
Stage 2:
Immediate Follow up
Stage 1:
Survey Visits
Ms. Yang will be present at the EDA meeting to present further information regarding a potential
BRE program and provide Board Members with a sample survey instrument. Following is a
synopsis of program content:
Stage 1:
Create program outline, update database of businesses, create BRE survey, schedule and
conduct visits with firms. Information provided by businesses is to be considered proprietary and
remain confidential.
Stage 2:
Immediate follow-up with urgent issues (e.g. pending expansion, pending departure of business,
immediate business needs/concerns.
2.) College
Avenue North' PO Box 668
Phone ,2.0.,6,.72.01
21
. Sdint. Joseph. Minnesotd )6)74
Fdx ,2.0.,6,.0'42.
.---- .-------- _....-------_.~ --------- ------- ---
Stage 3:
Preparation of written report including data compilation/analysis, summarization of findings and
prioritization of work items/strategies resulting from survey findings.
Stage 4:
Presentation of findings to the EDAlpublic. and implementation of strategies defined in written
report.
Action:
EDA review and comment on information provided by Ms. Yang, including BRE survey
instrument.
(/1~
CITY Of ST. JOSEPH
www.cityofstjoseph.com
DATE:
August9,2006
FROM:
St. Joseph Economic Development Authority
Cynthia Smith-Strack, Municipal Development Group
Administrdtor
judy Weyrens .
MEMO TO:
MdYor
Richdrd Cdrlbom RE:
TIF Reports
Councilors
AI Rdssier
Ross Rieke
Renee Symdnietz
Ddle Wick
Background:
The City is required to report annually to the State Auditor's Office on activity within active TIF
Districts (Le. TIF 1-3 Borgert Products and TIF 1-4 St. Joe Development, LLC). The TIF reports
for the year ending December 31, 2005 have been completed by EDA staff.
A copy of the reports and an annual disclosure statement published in the Newsleader and
mailed to the County Auditor and School District Superintendent are attached for your
information.
Action:
This item is for information only.
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2.)" College Avenue North. PO Box bb8 . Sdint. joseph, Minnesotd )"6"374
Phone ,2.0.,b,.]2.01 fdX ,2.0.,b,.0,42.
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CONFIRMATION OF DECERTIFIED TIF DISTRICT
The auditors from the TIF, Investment & Finance Division of the Office of the State Auditor (OSA) are
reviewing our compliance with requirements of the TIF Act relating to decertification of the following TIF
district. Please complete the information requested below in Part A and then forward the form.to the County
Auditor to be certified in Part B. Once the information has been completed by both the authorized TIF
representative and the County Auditor, please retum the form to the TJF Division of the OSA at the address
listed below:
Office of the State Auditor - TIF, Investment & Finance Division
525 Park Street, Suite 500 St. Paul, MN 55103
PART A. To be completed by the TIF authorized representative:
County AuditorlTreasurer's Name:
Date:
County Name: Stearns
County Address:
TIF Authority Name:
StJoseph
TIF District # and Name: TIF 1-3 Borgert Prod
TIF District Type: Economic Oevelopmment
TIF Plan Approval Date: 9/22/1998
Certification Request Date:
3/31/1999
Certification Date: 6/2211999
10 llF Plan (f)Statutory maximuITIOispeci~IL~islalion'
Required Decertification Date:
12/31/2008
(Information to be confirmed by the County Auditor:)
1. Actual decertification date:
2. Date of first tax increment received:
7 1 2002
3. Final tax increment distribution date
and amount $
4. Amount of excess tax increment returned to the county, if any $
and date
Date:
Signature:
Name and title of TIF authorized representative:
Judy Weyrens
PART 8: To be completed by the County Auditor or representative:
On behalf of the county auditor/treasurer, I certify that the above information, specifically information
provided in questions 1-4, is correct with the following exceptions, if any:
Signature:
Name and title of the county representative:
Date:
Phone:
Exceptions? DNo DYes If yes, please describe below:
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Excess Increment Calculation Report
For The Year Ended December 31, 2005
TIF 1-3 Borgert Prod
Tax Increment Financing District Name
StJoseph
TIF Authority
stearns
County Where TIF District is Located
Judy Weyrens
Tlf Authority's Authorized Representative
City of St. Joseph
Employer of Authorized Representative (if different from TIF authority)
PO Box 668 jweyrens@cityofstjoseph.com
Address E-mail Address
St Joseph MN
City
89
County Number( s)
stJoseph
Municipality That Approved TIF District
St. Joseph
CitylTown Where TIF District Is Located
Administrator
Title
(320) 363-7201
Phone Number
(320) 363-0342
Fax Number
56374
Zip Code
Please note the excess increment statute was amended during the 2005 Legislative Session. There were
three significant changes.
_ Nine-month time limit. The Legislature introduced a nine-month time limit in which excess increment
must be spent or returned to the county for redistribution.
_ Transfers for deficit poolina. The Legislature included transfers made to eliminate deficits in other
districts as part of the excess increment calculation. These transfers are authorized expenditures under
the !IF Act and should be taken into account when calculating excess increment.
_ Excess increment aoplies to Pre-1979 TIF Districts. The Legislature established specific rules regarding
pre-1979 TIF districts. The excess increment statute states that "excess increments equal the amount of
increments on hand on December 31, less the principal and interest obligations due on outstanding bonds
or advances, qualifying under subdivision 1c, clauses (1), (2), and (5), after December 31 of the year and
not prepaid under paragraph (c)." In other words, if no outstanding obligations exist as of December 31,
any tax increment that remains is excess increment.
Formula Value
1. Total tax increment received $ 103,263
2. Excess increments repaid in prior years - $ 0
3. Subtract line 2 from line 1 = $ 103,263
4. Total costs authorized to be paid with tax increment $ 349,671
5. Total authorized costs paid from other sources $ 0
6. Total non~TIF funds dedicated to pay authorized costs + $ 31,788
7. Total bond principal and interest outstanding + $ 104,369
8. Add lines 5 through 7 = $ 136,157
9. Amount from line 4 $ 349,671
10. Amount from line 8 - $ 136,157
11. Total transfers of increment to reduce deficits made by 12/31/2005 + $ 0
12. Subtract line 10 from line 9 and add 11 (If negative number, show-o-) = $ 213,514
13. Amount from line 3 $ 103,263
14. Amount from line 12 - $ 213,514
15. Subtract line 14 from line 13 (If negative, show 0) Excess Tax Increment = $ 0
16. Amount of excess increment used to prepay outstanding bonds $ 0
17. Amount of excess increment paid into escrow dedicated to + $ 0
payment of outstanding bonds
18. Amount of excess increment returned to the county + $ 0
19. Add lines 16 through 18 = $ 0
Jk"
2005 ANNUAL DISCLOSURE STATEMENT
Name of TIF Authority:
Name of Municipality:
StJoseph
StJoseph
The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2005.
St. Joseph Newsleader
(Name of the Newspaper)
on
8/11/2006
(Date of Publication)
Name of TIF District
TIF 1-3 Borgert Prod
Current net tax capacity $ 19,068
Original net tax capacity $ 286
captured net tax capacity $ 18,782
Principal and interest payments due during
current year $ 21,127
Tax increment received $ 20,209
T ax increment expended $ 19,770
Month and year of first tax increment 7 / 2002
receipt ( MM I YYYY)
Date of required decertification 12/31/2008
( MM I DD I YYYY)
Increased property tax imposed on other
properties as a result of fiscal disparities
contribution* $ 0
(All lines within the table must be published even if the amounts to be published are zero.)
* The fiscal disparities property tax law provides that the growth in commercial-industrial property tax values is shared
throughout the area. In a tax increment financing district, this value sharing can either result in a tax increase for other
properties in the municipality or result in a decrease in tax increment financing district revenue depending on how the
tax increment financing district is established.
Tax Increment Financing District TIF 1-3 Borgert Prod (name)
does not share its growth in commercial-industrial property tax values. This results in an increase
in property taxes for other properties in this municipality. For taxes payable in 2005, this increase
in taxes on other properties amounted to $ .
. (This paragraph needs to be published for each district for which is applies. Please attach additional pages, if needed.)
Additional information regarding each district may be obtained from:
Judy Weyrens
Name of TIF Representative
(Required to be published)
PO Box 668, St Joseph, MN 56374
Address (Street, City, Zip)
(320) 363-7201
Phone
Note to preparer: Publishing the last line of the table and the two paragraphs following the table is necessary only if a
T1F district in the municipality is located in the fiscal disparities area and the municipality chose option "A" under Minn.
Stat. 469.177, subd. 3(a) forthe TIF district.
/7
76. Amount of tax increment held dedicated to the payment of non-pooled TIF bonds. $
o
JDoN/AI
78. If refunding bonds have been issued, indicate the year(s) and amount(s) of the refunding issue(s):
I OVes@)No ONAI
h~ N/A I
77. Is amount on line 76 held in an escrow account? .................. ...... ...... ...... ... ...... .....
For more rowsto enter more information, go to last row and press both.CtrI and ~ keys.
Year Amount
79. If pay-as-you-go financing is being used, report the amount of documented developer
costs incurred through December 31,2005. $
145,000
I D N/A I
80. If property owners have received reimbursement of special assessments, report the
amount reimbursed through December 31, 2005. $
f0N/AI
81. Please list the estimate, if any, contained in the TIF plan of the amount of the cost of
the project, including administrative expenses, that will be paid or financed with tax
increment. $
317,833
ION/AI
82. If the TIF district has special legislation, specify the year, chapter, article, and section of the law.
'I~N/A'
Year
Chapter
Article
Section
83. Include a copy of the annual disclosure statement as required by Minn. Stat. 469.175, subd. 5 to be published in a
local newspaper. (TIF reports are incomplete if the annual disclosure statement is not submitted or it does not
include all required elements.) An annual disclosure form is included for your convenience, if desired.
Write the name of the local newspaper in which the annual disclosure statement was or will be published.
st. Joseph Newsleader
Indicate the actual or anticipated date of publication of the annual disclosure statement:
(An affidavit of publication is not required.)
8/11/2006
Please enter any comment you would like to share with us below.
Lines 74-75 p & I due in '06: The city auditor has indicated all future TIF pymts may be applied directly to principal
as the districtwi1l be decertified in '08. This will begin in '06.
Authority:
StJoseph
District: TIF 1-3 Borgert Prod
Page 5
lr
BALANCE SHEET
A. Tax increment receivable
B.
60. Total Assets
Liabilities
61 . Due to other funds
62. Other liabilities
so
12131/04
3,030
o
so
12131105
3,969
o
. Assets
57. Cash
58. Due from other funds
59. Other assets
A. Pay-as- ou-go contract
B. Professional Fees Payable
63. Total Liabilities
64. Fund Balance
65. Total Liabilities and Fund Balance
$
112,904 $
$
112,904 $
3,030 $
115,934 $
104,369
500
104,869
3,469
108,338
$
$
$
Investment Earnings 1.0...fIIot.Applic:ab1ei'l
On or Before 7/1197 On or After 7/2197
66. Investment earnings $ 0 $ 0
Property Sales/Leases and Advance/Loan Repayments J o NotApplicilbleI
On or Before 6/30/97 On or After 7/1/97
67. Proceeds from sale or lease of property $ 0 $ 0
68. Repayment of advances and loans (exclude interest) $ 0 $ 0
Non-Pooled TlF Bonds and Other Financial Obligations I ONotApplic8"l~iil
TIF Bonds Other
General Obligations Revenue Financial Obligations
69. Issue amount(s) $ 0 $ 0 $ 145,000
70. Principal paid in 2005 $ 0 $ 0 $ 8,535
71. Principal issued in 2005 $ 0 $ 0 $ 0
72. Interest paid in 2005 $ 0 $ 0 $ 10,663
73. Outstanding 12/31/05 $ 0 $ 0 $ 104,369
74. Principal due in 2006 $ 0 $ 0 $ 21 ,127
75. Interest due in 2006 $ 0 $ 0 $ 0
Authority:
StJoseph
District: TIF 1-3 Borgert Prod
Page 4
1-1.
OPERATING STATEMENT
Revenues and Other Original TIF-Plan Cumulative Modified Accounted for in
Financing Sources (OFSs) Budget Amount TIF-PlanBudget Prior Years 2005 Amount
$ 83,054 $ 20,209
$ 0 $ 0
$ 0 $ 0 $ 0 $ 0
$ 0 $ 0 $ 0 $ 0
$ 0 $ 0 $ 0 $ 0
$ 0 $ 0 $ 0 $ 0
$ 0 $ 0 $ 0 $ 0
$ 0 $ 0 $ 0 $ 0
$ 0 $ 0 $ 0 $ 0
A. Miscellaneous. $ 31,788 $ 0 $ 0 $ 0
B. Deferred TIF revenue received $ 0 $ 0 $ 2,207 $ 0
36. Transfers in (from line 21 ) $ 0 $ 0 $ 0 $ 0
37. Total Revenues and OFSs $ 349,671.. $ 0 $ 85,261 $ 20,209
Expenditures and
Other Financing. Uses (OFUs)
38. Land/building acquisition $ 206,991 $ 0 $ 21,306 $ 8,535
39. Site improvements! $ 0 $ 0 $ 0 $ 0
re aration costs
40. Installation of public utilities $ 0 $ 0 $ 0 $ 0
41. Public parking facilities $ 0 $ 0 $ 0 $ 0
42. Streets and sidewalks $ 0 $ 0 $ 0 $ 0
43. Public park facilities $ 0 $ 0 $ 0 $ 0
44. Social, recreation, or $ 0 $ 0 $ 0 $ 0
conference facilities
45. Interest reduction payments 0 0 0
46. Bond principal payments 0 0 0
47. Bond interest payments 0 0 0
48. Loan principal payments 0 0 0
49. Loan/note interest payments 110,892 48,901 10,663
50. Administrative expenses 31,788 1,233 572
51. Other (descnbe)
For more rows to enter more information,.gotolastrow and press bothCtrI and ukeys.
A. Ad.ustment-audit 04 needed $ 0 $ 0 $ 10,791 $ 0
52. Transfers out (from line 25) $ 0 $ 0 $ 0 $ 0
53 Total Expenditures and OFUs $ 349,671 $ 0 $ 82,231 $ 19,770
54. Revenues and OFSs Over (Under) $ 0 $ 0 $ 3,030 $ 439
Expenditures and OFUs
55. Fund Balance -12/31/04 $ 3,030
56. Fund Balance -12/31/05 $ 3,469
Authority: StJoseph District: TIF 1-3 Borgert Prod Page 3
,;'7 - )
1[>
Tax Capacity for Taxes Payable in 2005 tONdt@ucabie ]
Value
9: Current net tax capacity + $ 19,068
10. Original net tax capacity - $ 286
11 . Captured net tax capacity = $ 18;782
12. Fiscal disparity deduction, if applicable - $ 0
13. Captured net tax capacity shared with other taxing jurisdictions - $ 0
14. Captured net tax capacity retained by TIF authority = $ 18,782
15. Is this TIF district located in a fiscal disparities area and is it under option A?
I aVes @No
16. If yes, indicate the amount of total tax increase from the Commissioner of Revenue
Fiscal Disparities Contribution Statement........................ ... ...... . $
o
10 Not Applicable
aNAl
1
I
17. Has the municipality created a special taxing district for this TtF district?
I a Yes
@No .
Tax Increment Rebates or Payments (Direct or Indirect) 0NCltMpllCablei?1
Accounted for 2005
in Prior Years Amount
18. For activities and improvements outside TIF district $ 0 $ 0
Transfers
10 Not Applicable I
Transfers In - From Other TIF Districts or Funds
19. From other TIF districts
Formore rOWS to enter more information,.go to last row an(.fPfElSs both CtJ1and u keys.
A.
20. From other funds
A.
21. Total Transfers In (to line 36)
24. Non-tax increment to other funds
For more rows to enter more iriformation,gOto last row andPfElSs both CtJ1and u keys.
A.
25. Total Transfers Out (to line 52)
$
0... $
o
Authority:
StJoseph
District: TIF 1-3 Borgert Prod
Page 2
'-"7/
/)
Tax Increment Financing District Report
for The Year Ended December 31, 2005
TIF 1-3 Borgert Prod
Tax Increment Financing District Name
StJoseph
TIF Authority
Stearns
County Where TIF District is Located
Judy Weyrens
TIF Authority's Authorized Representative
89
County Number(s)
StJoseph
Municipality That Approved TfF District
St. Joseph
CitylT own Where TIF District Is Located
Administrator
Title
(320) 363-7201
Phone Number
City of St. Joseph
Employer of Authorized Representative (if different from TIF authority)
PO Box 668 jweyrens@cityofstjoseph.com
Address E-mail Address
(320) 363-0342
Fax Number
StJoseph
city
1. TIF District type:
o Pre-1979
o Housing
o Uncodified Law, (Specify)
2. Is this a "Qualified Housing District" as defined in MN Stat. 469.174, subd. 29(2003)1
MN
State
56374
Zip Code
o Redevelopment
(f) Economic Developmment
o Renewal and Renovation
OSoiis Condition
I 0 Yes (f) No ' ,
3. TIF-plan approval date(s):
A. Original..............................................................................................................
B. Modification date(s):.. .....................................................................................
MM/DD/VYYY
09/2211998
10 NotApPIi~ble'
For more rows to enter more dates, go to last row and press both CtrI and u keys.
4. Certification request date(s):
A. Original........................................................................................................
B. Geographic enlargement date(s):....................................................................
For more rOW$ toerner more dates, go to last row and press both CtrI and u keys.
a.
MM/DD/VYYY
03/31/1999
10 Not)APpliCClble .1
a.
MM/DD/VYVY
1 o Not ApplicabteI
C. Hazardous substance subdistrict
Formore rOW$ to enter more dates, go to last row and press both ctrt and u keys.
a.
5. Certification date(s):
A. Original..............................................................................................................
B. Geographic enlargement date(s):..................... ..................................................
For more rOW$ to erner more dates,. go to last row and press both ctrl and ukeys. a.
MM/DD/VYYY
06/221t999
'0 Not Applicable I
MM/DD/YVYY
10 Not Applicable I
C. Hazardous substance subdistrict
For more rOW$ toemermore dates, go to last row and press bothctrt and ukeys.
a.
M 1 YVYY
7 1 2002
6. Month and year first tax increment payment received (actual or anticipated):
7. Date of required decertification:.. ......................................................................... .........
12/31/2008
7a. Duration of the district is based on:
QiTIFPlal'l (i)statutc>rvl'TlaXimumduration.. OSpec;iaILElgisla1joll
8. Actual decertification date:................................. .. .. .. .. .. .. . .. . .. . .. .. .. .. .. t~NO~ApPlicab~ it
);2-
CONFIRMATION OF DECERTIFIED TIF DISTRICT
The auditors from the TIF, Investment & Finance Division of the Office of the State Auditor (OSA) are
reviewing our compliance with requirements of the TIF Act relating to decertification of the following TIF
district. Please complete the information requested below in Part A and then forward the.form to the County
Auditor to be certified in Part B. Once the information has been completed by both the authorized TIF
representative and the County Auditor, please return the form to the TIF Division of the OSA at the address
listed below:
Office of the State Auditor - TIF, Investment & Finance Division
525 Park Street, Suite 500 St. Paul, MN 55103
PART A. To be completed by the TIF authorized representative:
County AuditorlTreasurer's Name:
Date:
County Name: Stearns
County Address:
TIF Authority Name:
StJoseph
TIF District # and Name: TIF 1-4 St Joe Development, LLC
TIF District Type: Economic Developmment
TIF Plan Approval Date: 6/27/2002
Certification Request Date:
7/31/2002
Certification Date: 9/9/2003
1...0..llFPlan?@) statutory.mcOOmum OspeclalLegislation
Required Decertification Date:
12131/2012
(Information to be confirmed by the County Auditor:)
1. Actual decertification date:
2. Date of first tax increment received:
51 2004
3. Final tax increment distribution date
and amount $
4. Amount of excess tax increment returned to the county, if any $
and date
Signature:
Date:
Name and title of T1F authorized representative:
Judy Weyrens
PART B: To be completed by the County Auditor or representative:
On behalf of the county auditor/treasurer, I certify that the above information, specifically information
provided in questions 1-4, is correct with the following exceptions, if any:
Signature:
Name and title of the county representative:
Date:
Phone:
Exceptions? DNo DYes If yes, please describe below:
;;~
-j~
Excess Increment Calculation Report
For The Year Ended December 31, 2005
TIF 1-4 St Joe Development, LLC
Tax Increment Financing District Name
StJoseph
TIF Authority
stearns
County Where TIF District is Located
Judy Weyrens
TIF Authority's Authorized Representative
City of St. Joseph
Employer of Authorized Representative (if different from TIF authority)
PO Box 668 jweyrens@cityofstjoseph.com
Address E-mail Address
St Joseph MN
City
110
County Number(s)
StJoseph
Municipality That Approved TIF District
St. Joseph
CitylTown Where TlF District Is Located
Administrator
TItle
(320) 363-7201
Phone Number
(320) 363-0342
Fax Number
56374
Zip Code
Please note the excess increment statute was amended during the 2005 legislative Session. There were
three significant changes.
_ Nine-month time limit. The Legislature introduced a nine-month time limit in which excess increment
must be spent or returned to the county for redistribution.
_ Transfers for deficit pOolino. The Legislature included transfers made to eliminate deficits in other
districts as part of the excess increment calculation. These transfers are authorized expenditures under
the TIF Act and should be taken into account when calculating excess increment.
_ Excess increment aoolies to Pre-1979 TIF Districts. The Legislature established specific rules regarding
pre-1979 TIF districts. The excess increment statute states that "excess increments equal the amount of
increments on hand on December 31, less the principal and interest obligations due on outstanding bonds
or advances, qualifying under subdivision 1c, clauses (1), (2), and (5), after December 31 of the year and
not prepaid under paragraph (c)." In other words, if no outstanding obligations exist as of December 31,
any tax increment that remains is excess increment.
Formula Value
1. Total tax increment received $ . 115,028
2. Excess increments repaid in prior years - $ 0
3. Subtract line 2 from line 1 = $ 115,028
4. Total costs authorized to be paid with tax increment $ 643,000
5. Total authorized costs paid from other sources $ 0
6. Total non-TIF funds dedicated to pay authoriZed costs + $ 12,200
7. Total bond principal and interest outstanding + $ 557,884
8. Add lines 5 through 7 = $ 570,084
9. Amount from line 4 $ 643,000
10. Amount from line 8 - $ 570,084
11. Total transfers of increment to reduce deficits made by 12/3112005 +
12. Subtract line 10 from line 9 and add 11 (If negative number, show ...{}..) = $ 72,916
13. Amount from line 3 $ 115,028
14. Amount from line 12 - $ 72,916
15. Subtract line 14 from line 13 (If negative, show 0) Excess Tax Increment = $ 42,112
16. Amount of excess increment used 10 prepay outstanding bonds $ 0
17. Amount of excess increment paid into escrow dedicated to + $ 28,550
payment of outstanding bonds
18. Amount of excess increment returned to the county . + $ 0
19. Add lines 16 through 18 = $ 2~,55{)
'7L)
61
2005 ANNUAL DISCLOSURE STATEMENT
Name of TIF Authority:
Name of Municipality:
StJoseph
StJoseph
The following information represents the annual disclosure of tax increment districts for the year ended December 31, 2005.
St. Joseph Newsleader 8/11/2006
(Name of the Newspaper) on (Date of Publication)
Name of T1F District
TIF 1-4 8t Joe Development, LLC
Current net tax capacity $ 70,002
Original net tax capacity $ 6,769
captured net tax capacity $ 63,233
Principal and interest payments due during
current year $ 50,122
Tax increment received $ 67,714
Tax increment expended $ 43,106
Month and year of first tax increment 5 / 2004
receipt ( MM I YYYY)
Date of required decertification 12/31/2012
( MM I DO I YYYY)
Increased property tax imposed on other
properties as a result of fiscal disparities
contribution* $ 0
(All lines within the table must be published even if the amounts to be published are zero.)
* The fiscal disparities property tax law provides that the growth in commercial-industrial property tax values is shared
throughout the area. In a tax increment financing district, this value sharing can either result in a tax increase for other
properties in the municipality or result in a decrease in tax increment financing district revenue depending on how the
tax increment financing district is established.
Tax Increment Financing District TIF 1-4 8t Joe Development, LLC (name)
does not share its growth in commercial-industrial property tax values. This results in an increase
in property taxes for other properties in this municipality. For taxes payable in 2005, this increase
in taxe\> on other properties amounted to $ .
(This paragraph needs to be published for each district for which is applies. Please attach additional pages, if needed.)
Additional information regarding each district may be obtained from:
Judy Weyrens
Name of TIF Representative
PO Box 668, 8t Joseph, MN 56374
Address (Street, City, Zip)
(Required to be published)
(320) 363-7201
Phone
Note to preparer: Publishing the last line of the table and the two paragraphs following the table is necessary only if a
TIF district in the municipality is located in the fiscal disparities area and the municipality chose option "A" under Minn.
stat. 469.177, subd. 3(a) for the TIF district.
~-.~
.,
e-"
76.' Amount of tax increment held dedicated to the payment of non-pooled TIF bonds. $
~
I OVesONo (i)NAI
J 0 N/A I
77. Is amount on line 76 held in an escrow account? ... ... ... ......... .,. ............... ... ... .., .....
78. If refunding bonds have been issued, indicate the year(s) and amount(s) of the refunding issue(s):
'>,.,....':-:'...::'.'..::..:....:.<:...,....-.,,-:..,.....::......-.>.::...::"...,.--.........,:,;..,-/.:....:.-;<:....:.:>..>:..:>'.,.-:.:\:..-::...:-'-.:.:..:.:...:..'....:,.....::.
-~,,:_:,:::,.......:>.':..:::.':.:.::.::.:::.::: ":,::',-,:";:,,:,,,,:-,:,::',:::.--,:::-,.:,.,->',::.::::,-"",-,:,:",::,::,:-,,:":';::-:::':::'::-':',:::,-.-.'c.,.::.:...:::::-:'.::::....'::.::'..-.-.'..::..::._:'.--::....:' ';"'::"':',..-" ," '- ',-,'.. ......... .... ..', .. ..... " ',.,' ,- .. .. .. ...... ..
For more rows to enter more information, go to last row and press"bothCtrl aridu keYs:.
Year Amount
79. If pay-as-you-go financing is being used, report the amount of documented developer
costs incurred through December 31,2005. $
3,380,000
ION/Art
80. If property owners have received reimbursement of special assessments, report the
amount reimbursed through December 31, 2005. $
10N/Arl
81. Please list the estimate, if any, contained in the TIF plan of the amount of the cost of
the project, including administrative expenses, that will be paid or financed with tax
increment. $
643,000
ION/Ail
10N/Ail
82. If the TIF district has special legislation, specify the year, chapter, article, and section of the law.
Year
Chapter
Article
SeCtion
83. Include a copy of the annual disclosure statement as required by Minn. Stat. 469.175, subd. 5 to be published in a
local newspaper. (TIF reports are incomplete if the annual disclosure statement is not submitted or it does not
include all required elements.) An annual disclosure form is included for your convenience, if desired.
Write the name of the local newspaper in which the annual disclosure statement was or will be published.
St. Joseph Newsleader
Indicate the actual or anticipated date of publication of the annual disclosure statement:
(An affidavit of publication is not required.)
8/11/2006
Please enter any comment you would like to share with us below.
Lines 74-75. The City Auditor has indicated all future TIF can be applied directly to principal, with no interest pymt.
This has been shown beginning in 2005.
Authority:
StJoseph
District: TIF 1-4 St Joe Development, LLC
Page 5
3C,
BALANCE SHEET
A. Tax increment receivable
B.
60. Total Assets
Liabilities
61. Due to other funds
62. Other liabilities
so
12131/04
3,942
o
o
12131/05
67,714
o
Assets
57. Cash
58. Due from other funds
59. Other assets
A. StJoe DevelopmentLLC PAYG
B. Cash overdraft
C. Professional fees payable
63. Total Liabilities
64. Fund Balance
65. Total liabilities and Fund Balance
$ 0 $ 557,884
$ 38,664
$ 500
$ 0 $ 597,048. .
$ 3,942 $ 28,550
$ 3,942 $ 625;598..
Investment Earnings '0 NotAPplicableil
On or Before 7/1/97 On or After 7/2/97
66. Investment earnings $ 0 $ 0
Property Sales/Leases and Advance/Loan Repayments 10 Not Applicable .. >il
On or Before 6/30/97 On or After 7/1/97
67. Proceeds from sale or lease of property $ 0 $ 0
68. Repayment of advances and loans (exclude interest) $ 0 $ 0
Non-Pooled TIF Bonds and Other Financial Obligations lONoi:AppiicabiElil
.. TlF Bonds Other
General Obligations Revenue Financial Obligations
69. Issue amount(s) $ 0 $ 0 $ 643,000
70. Principal paid in 2005 $ 0 $ 0 $ 42,534
71. Principal issued in 2005 $ 0 $ 0 $ 0
72. Interest paid in 2005 $ 0 $ 0 $ 0
73. Outstanding 12/31/05 $ 0 $ 0 $ 557,884
74. Principal due in 2006 $ 0 $ 0 $ 50,122
75. Interest due in 2006 $ 0 $ 0 $ 0
Authority:
StJoseph
District: TIF 1-4 St Joe Development, LLC
Page 4
27
J
OPERATING STATEMENT
Revenues and Other Original TIF-Plan Cumulative Modified Accounted for in
Financing Sources (OFSs) Budget Amount TIF-Plan Budget Prior Years 2005 Amount
643,000 643,000 $ 47,314 $ 67,714
$ 0 $ 0
0 0 $ 0 $ 0
0 0 $ 0 $ 0
0 0 $ 0 $ 0
0 0 $ 0 $ 0
0 0 $ 0 $ 0
0 0 $ 0 $ 0
0 0 $ 0 $ 0
A. Develo er fee
36. Transfers in (from line 21)
37. Total Revenues and OFSs
Expenditures and
Other Financing Uses (OF Us)
38. Land/building acquisition $ 300,000 $ 308,000 $ 18,470 $ 42,534
39. Site improvements! $ 0 $ 50,000 $ 0 $ 0
re aration costs
40. Installation of public utilities $ 0 $ 0 $ 0 $ 0
41. Public parking facilities $ 0 $ 0 $ 0 $ 0
42. Streets and sidewalks $ 104,400 $ 46,400 $ 0 $ 0
43. Public park facilities $ 0 $ 0 $ 0 $ 0
44. Social, recreation, or $ 0 $ 0 $ 0 $ 0
conference facilities
45. Interest reduction payments 0 0 0
46. Bond principal payments 0 0 0
47. Bond interest payments 0 0 0
48. Loan principal payments 0 0 0
49. Loan/note interest payments 130,000 130,000 24,113
50. Administrative expenses 64,300 64,300 12,989
51. Other (describe)
A. Ca italized interest $ 42,000 $ 42,000 $ 0 $ 0
B. Office of the State Auditor $ 2;300 $ 2,300 $ 0 $ 0
52. Transfers out (from line 25) $ 0 $ 0 $ 0 $ 0
53 Total Expenditures and Of Us $ 643,000 $ 643,000 $ 55,572 $ 43.106
54. Revenues and OFSs Over (Under) $ 0 $ 0 $ 3,942 $ 24,608
Expenditures and OFUs
55. Fund Balance .12/31104 $ 3,942
56. Fund Balance -12/31105 $ 28,550
Authority: stJoseph District: TIF 1-4 St Joe Development, LLC Page 3
3x7
- ..)
Tax Capacity for Taxes Payable in 2005 IONOt~ic:at>le.'..~1
Value
9. Current net tax capacity + $ 70,002
10. Original net tax capacity - $ 6,769
11. Captured net tax capacity = $ 63,233
12. Fiscal disparity deduction, if applicable - $ 0
13. Captured net tax capacity shared with other taxing jurisdictions - $ 0
14. Captured net tax capacity retained by TIF authority = $ 63,233
15. Is this TIF district located in a fiscal disparities area and is it under option A? lOVeS(i)No
16. If yes, indicate the amount of total tax increase from the Commissioner of Revenue
Fiscal Disparities Contribution Statement............... ... . .. .., . . . . . . . .. . $
aNA I
o
10 Not Applicable I
I
@No
17. Has the municipality created a special taxing district for this TIF district?
I 0 Yes
Tax Increment Rebates or Payments (Direct or Indirect) 10Noti~itabte<>1
Accounted for 2005
in Prior Years Amount
18. For activities and improvements outside TIF district $ 0 $ 0
Transfers
10 Not Applicable I
A.
23. Tax increment to other funds
For mbferowsto enter more Informatiorl;
A.
Transfers In - From Other TIF Districts or Funds
19. From other TIF districts
. Fotmo~J"l)Wl>' to enter more information.90tolastrOlN and press both Ctr1and ukeys.
A.
21. Total Transfers In (to line 36)
Transfers Out - To Other TIF Districts or Funds
22. To other TIF districts
FOr morerowsfj)enter'moreinf()l'l'l1atiOrl,gqtolastrowandpteSs both Ctrtandu keys.
A.
25. Total Transfers Out (to line 52)
$
0$
o
Authority:
StJoseph
District: TIF 1-4 St Joe Development, LLC
Page 2
,-51
~-~~_.__.~~--_._--
Tax Increment Financing DiStrict Report
For The Year Ended December 31,2005
TIF 1-4 St Joe Development, LLC
Tax Increment Financing District Name
StJoseph
TIF Authority
Steams
County Where TIF District is Located
Judy Weyrens
TIF Authority's Authorized Representative
110
County Number(s}
StJoseph
Municipality That Approved TIF District
St. Joseph
CitylTown Where TIF District Is Located
Administrator
TItle
(320) 363-7201
Phone Number
city of St. Joseph
Employer of Authorized Representative (if different from TIF authority)
. PO Box 668 jweyrens@cityofstjoseph.com
Address E-mail Address
(320) 363-0342
Fax Number
StJoseph
City
1. TIF District type:
o pre-1979
o Housing
o Uncodified Law, (Specify)
2. Is this a "Qualified Housing District" as defined in MN Stat. 469.174, sOOd. 29(2003)?
MN
State
56374
Zip Code
@ Economic Developmment
o Renewal and Renovation
o Soils Condition
o Redevelopment
, 0 Yes @ No ,
3. TIF-plan approval date(s):
A. Original..............................................................................................................
B. Modification date(s):. ......................................... ........... .................... ..............
For morerowstoenter more dates, gato last rfIW and press both CtrI and ukeys.
a.
MM/DD1VYYY
06/27/2002
r 0 Not APPlicable'
07/18/2002
MM/DD /YVYY
07/31/2002
10 Not AppIicab'Ecil
4. Certification request date(s):
A. Original... ............................ ..................... ................... ........................ .........
B. Geographic enlargement date(s):.................. ............. .....................................
Formore rfIWS to enter more dates, go to last rfIW and. press both ctrt and u keys.
a.
MM/DD/YVYY
'0 Not Applicable <I
C. Hazardous substance subdistrict
For more roWS to enter more dates, go to last row and press both ctrt and u keys.
a.
5. Certification date( s):
A. Original...... ........... ...... ........................... ... ................................ .... ...... ...............
B. Geographic enlargement date(s):... ............... ...................................... ...............
For more rfIWSto enter more dates, go to last row and press both ctn and u keys. a.
MM I DO /YVYY
09/09/2003
10 Not Applicable <I
MM IDD/YVYV
10. Not Applicable I
C. Hazardous substance subdistrict
Forrnore rowstoenter more dates, go to last row and press both CtrI and u keys.
a.
6. Month and year first tax increment payment received (actual or anticipated):
M I YYVY
5 1 2004
7. Date of required decertification:...... ......... .,. ...... ... ...... .,. ... ...... ... .., .... ........... ... ..... .......... 12/31/2012
7 a. Duration of the district is based on: 011FPlan@)StatlJtoIYl1'laXimurnduration OSpeciall.egislation <
8. Actual decertification date:...... . .. . .. .. . .. .. .. . . .. .. .. . . . . . .. .. . . . . .. . . .. . . . . .. .. . . .. .. 10NOtl\pf)licab\el
tjo
-
MUNICIPAL
DEVELOPMENt GROUP, INC.
July 31, 2006
St. Joseph Newsleader
209 East Cedar Street
St. Joseph, MN 56374
RE: City of St. Joseph, MN - Legal Newspaper publication
Attn: Legal Advertising
Following for publication as a legal notice in the August 11, 2006 edition of newspaper
the City of S1. Joseph's 2005 Annual TIF Disclosure Statement.
Your invoice for publication costs should be sent to the City of S1. Joseph as per your
normal billing procedure for their account to the following address:
City of S1. Joseph
Attn: Judy Weyrens, City Administrator
PO Box 668
S1. Joseph, MN 56374
Also, please send one Affidavit of Publication to City Hall and one to my attention at
Joanne Foust, Municipal Development Group, Inc. 25562 Willow Lane, New Prague MN
56071. If for ay reason you are unable to publish the enclosed information, please call
immediately at 952-758-7399 or 1-888-7mdg-inc.
Best regards,
Joanne Foust
Municipal Development Group Inc.
Enc\:
Cc: Judy Weyrens, City of S1. Joseph
25562 Willow Lane" New Prague" MN" 56071" 952-758-7399* Fax: 952-758-7399 *
www.municioaldeveloomentoroup.com .. email: staff@municipaldevelopmentgroup.com
L//
City of St. Joseph
The following information represents the annual disclosure of tax increments for
the year ended December 31, 2005.
District Name TIF # 1-3 TIF # 1-4
Current Net Tax Capacity $19,068 70,002
Original Net Tax Capacity $ 286 6,769
Captured Net Tax Capacity $18,782 63,233
Principal and interest
payments due during $21,127 50,122
current year
Tax Increments Received $20,209 67,714
Tax Increments Expended $19,770 43,106
Month and Year of First July, 2002 May, 2004
Increment Receipt
Date of Required December 31, 2008 December 31,2012
Decertification
Additional information regarding each district may be obtained from: Judy Weyrens, City
Administrator, City of St. Joseph, PO Box 668, St Joseph MN 56374, 320-363-7201.
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