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HomeMy WebLinkAbout06-24-21 CITY OF Meeting Location: FARMINGTONFarmington City Hall 430 Third Street ~� Farmington, MN 55024 ECONOMIC DEVELOPMENT AUTHORITY REGULAR MEETING AGENDA June 24, 2021 6:00 PM Ryan Butterfield, Chair; Katie Bernhjelm, Vice-Chair Robert Carpentier, Joshua Hoyt, Stephen Hudlemeyer, Tony Kaufman Hannah Simmons 1. CALL TO ORDER 2. PLEDGE OF ALLEGIANCE 3. ROLL CALL 4. APPROVE AGENDA S. CITIZENS COMMENTS 6. CONSENTAGENDA (a) Monthly Financial Statements (b) Executive Director Appointment 7. PUBLIC HEARINGS 8. DISCUSSION ITEMS (a) City Council Update/Member Roundtable (b) 2022 Budget Discussion and Recommendation (c) Reallocating Rambling River Center Plaza Funds 9. DIRECTOR'S REPORT (a) June Director's Report 10. ADJOURN CITY OF O 430 Third St., Farmington, MN 55024 FARMINGTON © 651-280-6800 bai3ii Y Farmington MN,gov TO: Economic Development Authority FROM: Kalley Swift, Community Development Specialist SUBJECT: Monthly Financial Statements DATE: June 24, 2021 INTRODUCTION/DISCUSSION Please find attached the monthly financial statements of the EDA. ACTION REQUESTED Acknowledge the monthly financial statements and ask any questions you may have. ATTACHMENTS: Type Description ❑ Exhibit Financial Snapshot-June ❑ Exhibit EDA-Actual Vs Budgeted Rev and Exp-June 2021 Department Actual vs Budget-Generic Time Period Business Object Account Cumulative 12 Cumulative 12 Unit Account Description Actual Budget 2021 2021 2000-HRA/ECONOMIC DEVELC 1010 CASH 229,047.22 2000-HRA/ECONOMIC DEVELC 1010 CASH-LGA ASSMNT RELIEF 35,000.00 2000-HRA/ECONOMIC DEVELC 1011 PREMIUM/DISCOUNT ON INVESTMENT 0.00 2000-HRA/ECONOMIC DEVELC 1095 ACCRUED INTEREST INVESTMENTS 0.00 2000-HRA/ECONOMIC DEVELC 1305 ACCOUNTS RECEIVABLE 0.00 2000-HRA/ECONOMIC DEVELC 1305 JACCOUNTS RECEIVABLE MANUAL 0.00 2000-HRA/ECONOMIC DEVELC 1353 IDLE FROM COUNTY 0.00 2000-HRA/ECONOMIC DEVELC 1505 PREPAID EXPENSES 0.00 2000-HRA/ECONOMIC DEVELC 2010 ACCOUNTS PAYABLE MANUAL 0.00 2000-HRA/ECONOMIC DEVELC 3510 UNRESERVED FUND BALANCE -293,223.81 2000-HRA/ECONOMIC DEVELC 4404 FEDERAL GRANT 0.00 2000-HRA/ECONOMIC DEVELC 4955 INTEREST ON INVESTMENTS -1,190.95 -2,100.00 2000-HRA/ECONOMIC DEVELC 4960 GAIN/LOSS INVEST MKT VALUE 0.00 2000-HRA/ECONOMIC DEVELC 5205 OPERATING TRANSFERS -16,666.65 -40,000.00 2000-HRA/ECONOMIC DEVELC 5360 REFUNDS&REIMBRSMNT-DBB -37,689.62 -180,474.00 2000-HRA/ECONOMIC DEVELC 6110 FULL TIME SALARIES 51,549.82 129,430.00 2000-HRA/ECONOMIC DEVELC 6152 FICA/MEDICARE 3,779.63 10,030.00 2000-HRA/ECONOMIC DEVELC 6154 IPERA 3,866.25 9,707.00 2000-HRA/ECONOMIC DEVELC 6158 EMPLOYEE BENEFITS 8,914.31 9,046.00 2000-HRA/ECONOMIC DEVELC 6159 WORKERS COMP 146.35 790.00 2000-HRA/ECONOMIC DEVELC 6220 EQUP SUPPLIES&PARTS-DBB 58.08 2000-HRA/ECONOMIC DEVELC 6280 BOOKS&SUBSCRIPTIONS 0.00 2000-HRA/ECONOMIC DEVELC 6280 BOOKS&SUBSCRIPTIONS-DBB 0.00 2000-HRA/ECONOMIC DEVELC 6401 PROFESSIONAL SERVICES 2,395.00 11,650.00 2000-HRA/ECONOMIC DEVELC 6401 PROFESSIONAL SERVICES-DBB 0.00 2000-HRA/ECONOMIC DEVELC 6403 LEGAL 619.20 2,000.00 2000-HRA/ECONOMIC DEVELC 6404 IT SERVICES 3,946.65 9,472.00 2000-HRA/ECONOMIC DEVELC 6412 CELLULAR SERVICES-DBB 165.95 540.00 2000-HRA/ECONOMIC DEVELC 6422 ELECTRIC 13.86 300.00 2000-HRA/ECONOMIC DEVELC 6426 JINSURANCE 204.11 130.00 2000-HRA/ECONOMIC DEVELC 6450 OUTSIDE PRINTING 0.00 500.00 2000-HRA/ECONOMIC DEVELC 6455 LEGAL NOTICES 22.00 2000-HRA/ECONOMIC DEVELC 6460 MEMBER DUES&LICENSURE 1,250.00 2,000.00 2000-HRA/ECONOMIC DEVELC 6460 MEMBER DUES&LICENSURE 1,526.00 2000-HRA/ECONOMIC DEVELC 6470 TRAINING&SUBSISTANCE 175.00 3,500.00 2000-HRA/ECONOMIC DEVELC 6470 ITRAINING&SUBSISTANCE-DBB 0.00 5,000.00 2000-HRA/ECONOMIC DEVELC 6485 MILEAGE REIMBURSEMENT 0.00 400.00 2000-HRA/ECONOMIC DEVELC 6492 ADVERTISING 0.00 2,500.00 2000-HRA/ECONOMIC DEVELC 6505 EQUIPMENT REPAIR/MAINTENANCE 0.00 0.00 2000-HRA/ECONOMIC DEVELC 6505 EQUIPMENT REPAIR/MAINT-DBB 208.70 195.00 2000-HRA/ECONOMIC DEVELC 6550 DEVELOPER PAYMENTS 802.90 2000-HRA/ECONOMIC DEVEL 6570 PROGRAMMING EXPENSE 5,080.00 8,000.00 2000-HRA/ECONOMIC DEVEL 7310 OPERATING TRANSFERS 0.00 0.00 Total 2000-HRA/ECONOMIC DEVELOPMENT 0.00 -17,384.00 0.00 -17,384.00 0.00 -17,384.00 EDA Actual vs Budgeted 2021 Object January February March April May June July August September October November December Dec YTD Dec YTD Dec YTD Actual Account Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Budget Budget Variance 2021 2021 2021 2021 2021 2021 2021 2021 2021 2021 2021 2021 2021 2021 2021 Intergovernmental 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Investment Income 256 313 302 320 0 0 0 0 0 0 0 0 1,191 2,100 (909) Misc Revenue 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Revenues 256 313 302 320 0 0 0 0 0 0 0 0 1,191 2,100 (909) Personnel Services 10,232 12,896 12,896 12,896 19,574 (236) 0 0 0 0 0 0 68,256 159,003 (90,747) Supplies 29 0 29 0 0 0 0 0 0 0 0 0 58 0 58 6401 -PROFESSIONAL SERVICE 1,695 0 0 0 700 0 0 0 0 0 0 0 2,395 11,650 (9,255) 6403-LEGAL 0 241 138 241 0 0 0 0 0 0 0 0 619 2,000 (1,381) 6404-IT SERVICES 789 789 789 789 789 0 0 0 0 0 0 0 3,947 9,472 (5,525) 6422-ELECTRIC 14 0 0 0 0 0 0 0 0 0 0 0 14 300 (286) 6426-INSURANCE 11 48 48 48 48 0 0 0 0 0 0 0 204 130 74 6450-OUTSIDE PRINTING 0 0 0 0 0 0 0 0 0 0 0 0 0 500 (500) 6455-LEGAL NOTICES PUBLICA 0 0 0 0 22 0 0 0 0 0 0 0 22 22 6460-SUBSCRIPTIONS&DUES 1,250 0 0 0 0 0 0 0 0 0 0 0 1,250 2,000 (750) 6470-TRAINING&SUBSISTANC 175 0 0 0 0 0 0 0 0 0 0 0 175 3,500 (3,325) 6485-MILEAGE REIMBURSEME 0 0 0 0 0 0 0 0 0 0 0 0 0 400 (400) 6492-ADVERTISING 0 0 0 0 0 0 0 0 0 0 0 0 0 2,500 (2,500) 6550-DEVELOPER PAYMENTS 0 0 0 0 803 0 0 0 0 0 0 0 803 803 6570-PROGRAMMING EXPENS 0 580 0 0 4,500 0 0 0 0 0 0 0 5,080 8,000 (2,920) Services and Charges 3,934 1,658 975 1,078 6,863 0 0 0 0 0 0 0 14,509 40,452 (25,943) Total Exp 14,195 14,554 13,900 13,974 26,437 (236) 0 0 0 0 0 0 82,823 199,455 (116,632) Transfers In 3,333 3,333 3,333 3,333 3,333 0 0 0 0 0 0 0 16,667 40,000 (23,333) Transfers Out 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Other Financing Sources 3,333 3,333 3,333 3,333 3,333 0 0 0 0 0 0 0 16,667 40,000 (23,333) Net Change in Fund Balance L(10,606) (10,908) (10,264) (10,321) (23,103) 236 0 0 0 0 0 0 (64,966) (157,355) 92,389 CITYOF 0 43o Third St., Farmington, MN 55024 FARMINGTON © 651-280-6800 IiliVlil Farmington M N.gov TO: Economic Development Authority FROM: Kalley Swift, Community Development Specialist SUBJECT: Executive Director Appointment DATE: June 24, 2021 INTRODUCTIONIDISCUSSION The Economic Development Authority By-Laws allows the EDA to appoint an Executive Director. At the June 17 Special EDA Meeting,the EDA appointed David McKnight, City Administrator as the Executive Director of the EDA to complete the sale of the Riste Lot. Samantha DiMaggio has begun her position as Community Development Director with the City of Farmington. The EDA should appoint Samantha DiMaggio, Community Development Director as the official Executive Director effective immediately. ACTION REQUESTED Approve the appointment of Samantha DiMaggio, Community Development Director as Executive Director of the EDA effective immediately. ATTACHMENTS: Type Description ❑ Exhibit EDA By-Laws 2021 2021 ECONOMIC DEVELOPMENT AUTHORITY BY-LAWS These By-Laws, when adopted, are intended to deal with matters not otherwise covered by State Law, City Ordinance or elsewhere. Section I—Meetings SUBD. 1 —Regular meetings of the Economic Development Authority shall be held on the fourth (4th) Thursday of each month at 6:00 p.m. Any regular meeting falling upon a holiday shall be held on the f'previous Thursday at the same time and place. All meetings, including special and adjourned meetings, shall be held in the City Hall unless otherwise designated. SUBD. 2—Special meetings of the Authority may be called by the Chairperson or in written form by any other two (2)members of the Authority, filed with the Executive Director. The Executive Director may also call a special meeting. At least three (3) days before the meeting,the Executive Director shall notify each member of the time,place and purpose of the meeting by causing written notice thereof to be delivered to him/her by e-mail. At least three (3) days prior to the meeting,the Executive Director shall also post notice of the meeting and if applicable, notify each person who has filed an applicable written request for notice, or may, if necessary,provide such other more restricted notice, including but not limited to (as allowed by Statute, such as)M.S. 471.705, subd. 1C, paragraph g, " if a person receives actual notice of a meeting of a public body at least 24 hours before the meeting, all notice requirements of this subdivision are satisfied with respect to that person, regardless of the method of receipt of notice." Emergency meetings may be held because of circumstances that, in the judgment of the Authority require immediate attention. The notice of special meeting shall state the item(s)to be discussed and acted upon. Items not stated in the notice may be discussed, but no action may be taken if any member objects. Any special meeting attended by a majority of the Authority members shall be a valid meeting for the transaction of business that may come before the meeting. SUBD. 3 —At the regular Authority meeting in February of each year, the Authority shall (1) acknowledge City Council's designation of the official newspaper; (2) establish the meeting schedule for the year; (3) choose a Chairperson and a Vice-Chairperson, who shall perform the duties of the Chairperson during the Chairpersons disability or absence, and in case of a vacancy in the office of Chairperson, and until a successor has been appointed and qualifies to fulfill the duties of Chairperson, and; (4) appoint a Secretary and Treasurer,which need not be a commissioner. SUBD. 4—All Authority meetings, as defined by State Law, including special and adjourned meetings shall be open to the public. The Authority Attorney shall advise the Authority in writing as to their interpretation of the state "Open Meeting Law" and all new members shall be provided such written interpretation. 1 Section II Presiding Officer; Rules of Order SUBD. 1 —The Chairperson shall preside at all meetings of the Authority. In the absence of the Chairperson, the Vice-Chairperson shall preside. In the absence of both, the Executive Director shall call the meeting to order and shall preside until the Authority members present at the meeting choose one of their members to act temporarily as presiding officer. SUBD. 2—The presiding officer shall preserve order, enforce the rule of procedure herein prescribed, and determine all questions of procedure and order. Except as otherwise provided by statute or by these rules, the proceedings of the Authority shall be conducted in accordance with the following rules of order: A. A motion must be seconded before being considered by the Authority and the presiding officer must recognize mover, as well as the seconder. B. Any motion may be withdrawn by its mover with the consent of his/her second. But a motion, once debated, cannot be withdrawn except by a majority vote of the Authority. C. A motion will not be subject to debate until it has been stated by the presiding officer and he/she has opened it to debate. D. Each member,while speaking, shall confine himself/herself to the question at hand and avoid all personal, indecorous or sarcastic language. E. Whenever any member of the Authority desires to speak on any question,which affects him/her personally, he/she shall first vacate his/her chair and shall not resume his/her seat until the matter under consideration has been acted upon. He/she shall be allowed to make comments on the question as a private citizen only and while a member of the audience. F. Whenever public hearings are held,the presiding officer shall allow any member of the public, the privilege of speaking. A reasonable time shall be allowed to anyone as long as they are not repeating points already made. The presiding officer shall maintain order and may rule anyone out of order. G. At any meeting,the presiding officer will allow the public to participate as long as there is reason to believe the input is beneficial. SUBD. 3 —Any member may appeal to the Authority from a ruling of the presiding officer. If the appeal is seconded,the appealing member may speak first on the reason for his/her appeal. General discussion can then take place on the appeal before a vote. The appeal shall be sustained if it is approved by a majority of the members present. 2 Section III—Agendas SUBD. 1 —The agenda shall be prepared by the EDA Executive Director and shall be closed at noon on the Friday preceding the meeting for publication purposes. SUBD. 2—Any member may place an item on the agenda by so instructing the Executive Director. SUBD. 3—No item shall be placed on the agenda unless the item is expressed in such a way as to clearly show the subject matter involved. SUBD. 4—The agenda add-ons are subject to approval by a majority vote of the members present and further such add-on items may be discussed,but no action may be taken if any member objects. Section IV—Order of Business SUBD. 1 —Each meeting of the Authority shall convene at the time and place appointed therefore. Authority business shall be conducted in the following order: 1) Call to Order 2) Pledge of Allegiance 3) Roll Call 4) Approve Agenda 5) Citizen Comments 6) Approve Consent Agenda a. Minutes b. Monthly Statements c. Additional Consent Agenda items 7) Public Hearings 8) Discussion Items 9) Director's Report 10)Adjourn SUBD. 2—The order of business may be varied by the presiding officer, except that all public hearings shall be held at the time specified in the notice of hearing. Section V—Minutes SUBD. 1 —Minutes of each Authority meeting shall be kept by the Executive Director or, in his/her absence, his/her designee. In the absence of both, the presiding officer shall appoint a secretary pro tem. Resolutions need not be recorded in full in the minutes if they appear in other permanent records of the Executive Director and can be accurately identified from the description given in the minutes. SUBD. 2—Minutes of each meeting shall be reduced to typewritten form. At the next regular Authority meeting, approval of the minutes shall be considered by the Authority. The minutes need not be read aloud, but the presiding officer shall call for any additions or corrections. If there is an objection,the Authority shall vote upon the addition or correction. If there are no additions or 3 corrections,the minutes shall stand approved by motion. If there is an objection,the Authority shall vote upon the addition or correction and approve the minutes by motion as amended. Section VI—Quorum and Voting SUBD. 1 —At all meetings a majority of all members shall constitute a quorum for the transaction of business. SUBD. 2—The votes of members on any question pending before the EDA shall be by voice votes. Roll call vote can be requested by any member, except for the following agenda items; approval of the agenda; approval of the consent agenda; and the adjournment. The names of those voting for and against the question shall be recorded in the minutes. If any member present does not vote,the minutes shall state: "Abstain:Name". SUBD. 3—Except as otherwise provided by statute, a majority vote of the quorum shall prevail. Section VII—Executive Director The Authority may appoint and provide for annual performance reviews of an Executive Director. Section VIII—Suspension or Amendment of the By-Laws SUBD. 1 —These by-laws may be temporarily suspended by a unanimous vote of the members present. SUBD. 2—These by-laws shall not be repealed or amended except by a majority vote of the whole Authority after notice has been given at some preceding meeting. Section IX—Effective Date SUBD. 1 —These by-laws have been adopted by the Economic Development Authority on the 25th day of February, 2021 and become effective immediately. Attest: EDA Executive Director EDA Chairperson Date: Date: 4 CITY OF O 43o Third St., Farmington, MN 55024 FARMINGTON © 651-28o-6800 t FarmingtonMN.gov TO: Economic Development Authority FROM: Kalley Swift, Community Development Specialist SUBJECT: City Council Update/Member Roundtable DATE: June 24, 2021 INTRODUCTION/DISCUSSION This is a standing agenda item to allow City Council members the opportunity to provide the EDA with any updates they feel are pertinent to the work plan of the EDA. This agenda item also allows EDA Members to share information with other Members and staff, or ask staff about items not on the agenda. No formal decisions are made during this agenda item. ACTION REQUESTED Receive an update on recent City Council actions and discussions. C17'V OF 0 43o Third St., Farmington, MN 55024 FARMINGTON © 651-28o-6800 FarmingtonMN.gov TO: Economic Development Authority FROM: Kalley Swift, Community Development Specialist SUBJECT: 2022 Budget Discussion and Recommendation DATE: June 24, 2021 INTRODUCTION/DISCUSSION In June, a first draft of the budget for the following year is brought forward to the City Council.The EDA should have a discussion tonight on the amount of funding it would like to see for 2022. The City Council realizes the EDA is underfunded and as a result the responsibilities of the EDA need to match the funding given. The role of the EDA has been defined as supporting the 2021-2022 City Council priorities of business growth, community engagement, and infrastructure support. At the April 15 Special EDA meeting,the role of the EDA was further discussed.The best and most efficient ways the EDA can support the 2021-2022 City Council priorities is to: • Implement and participate in the BR&E Program. • Attend ribbon cuttings and community events. • Be an ambassador and promote increased communication and participation from the business community/overall Farmington community. • Continue to implement, manage, and execute existing EDA programs and review budgetary needs. Based off of the identified EDA focus points,the EDA needs to have a discussion on how much they believe would be the best 2022 budget request. The EDA has received anywhere from $30,000-$50,000 annually in recent years.The EDA has made requests for a larger fund transfer due to increased EDA funded programs.The EDA requested $70,000 in funding from the City Council for 2021, but received $40,000 in funding instead.The EDA should remember that it can ask the City Council for a larger allocation, especially if the EDA is providing funding to accomplish projects which align with City Council priorities of business development, infrastructure support, and community outreach. Accounting for maximum spend downs in all budget categories for 2021 (including a full expenditure of the$100,000 RRC Plaza funds),there is still$52,062 cash available within the EDA budget.As of right now,there has been no interest in the Site Readiness Program for 2021, and the EDA does not have to spend all $100,000 in dedicated RRC Plaza dollars in 2021.The dollars in the EDA budget which are not expended in 2021 will be rolled into the beginning cash/investments amount for 2022. Broadly, 2022 will be a year of focusing on the BR&E program, launching the new versions of the Facade Improvement Program and Redevelopment and Property Reinvestment Program, and building increased community engagement and communication. There will be little to none unknown costs or new programs we are not already aware of which will need a dedicated funding source. The BR&E Program will be used to identify themes and general issues which may or may not require new EDA Programs.Any new EDA program directly correlated to the BR&E Program would be identified in 2022 and budgeted into 2023 with an identified funding source. Funding the operation of the EDA (legal fees, professions dues, subscriptions, I.T. charges, etc.),the annual Open to Business fee,the Fagade Improvement Program, and the Redevelopment and Property Reinvestment Programs costs roughly$75,000/year for the EDA.The Site Readiness Program requires an additional$20,000 from the EDA budget annually as well. If the EDA requests $40,000 for 2022,that amount will fund both the renewed Fagade Improvement and Redevelopment/Reinvestment Programs next year which will be a high priority with updated program guidelines.The remaining identified EDA operations and programs will require either a larger fund transfer into the EDA budget or it will need to come from underutilized EDA program funds/cash available within the EDA budget. As the EDA continues to create and execute additional programs, long-term dedicated funding sources need to be identified. For historical context, in 2010,the EDA's fund balance was a negative(-) $242,000 and it had$6,000 in cash available. Since 2010, the City Council and city staff have worked hard to strengthen the EDA's position which has led to a significant positive(+)fund balance. With the increase in dollars for the EDA,the EDA started creating programs and setting aside dollars for larger projects, but the EDA is currently spending more dollars each year than is being allocated to them. The cash available on hand will continue to decrease as we increase our grant programs and expenditures, but this shouldn't stop the EDA from funding projects and programs which will benefit the business community, general public, and City Council priorities in Farmington. Outlined below is the 2021 budget expenditures from the March 2021 EDA meeting.The finance presentation from the March 2021 EDA meeting is also attached for review and reference.A full expenditure of the$100,000 RRC Plaza funds still leaves $52,062 in cash available at the end of 2021. With no interest in the Site Readiness Program for 2021,this amount will be at least$20,000 higher for cash available at the end of the year. A half expenditure of the$100,000 RRC Plaza funds leaves$102,062 in cash available at the end of 2021. With no interest in the Site Readiness Program for 2021,this amount will be at least$20,000 higher for cash available at the end of the year. 2021 as Outlined in March 2021 (Full RRC Plaza (Half RRC Plaza Expenditure) Expenditure) Beginning Cash/Investments 238,703 238,703 General Fund Transfer 40,000 40,000 Less: Operation 30,000 30,000 Open To Business 4,500 4,500 Site Readiness 20,000 20,000 Facade Improvement 20,000 20,000 Program CDBG Cashflow Timing 32,141 32,141 Redevelopment and Property 20,000 20,000 Reinvestment Program Public Space Improvement 0 0 Program RRC Plaza 100,000 50,000 Cash Available For 52,062 102,062 Programing The EDA should reference the 2021 budget table when discussing the reallocation of the Rambling River Center Plaza funds next. ACTION REQUESTED The EDA should have a policy discussion and provide direction on how much funding it would like to see for 2022 as well as assess their future financial needs for 2023 and beyond. City staff recommends requesting at least$40,000 for 2022. ATTACHMENTS: Type Description ❑ Exhibit March 2021 EDA Finance Presentation EDA FINANCIAL REVIEW MARCH 25 . 2021 FARMINGTON REVENUES AND EXPENDITURES 2018 2019 2020 Revenues Taxes $ - $ - $ - Intergoverrnmental: Preliminary numbers Transfer from City 30,000 50,000 40,000 • CDBG Grants 21,809 - - DBB Executive Director HR costs Reimbursed by the DBB through Dakota DBB HR Costs Reimbursement* - 65,398 169,469 • County Investment earnings 4,188 10,434 6,696 Total Revenues 55,996 125,832 216,166 Expenditures Economic Development 68,338 67,722 45,546 DBB HR Costs Reimbursement - 65,398 169,469 Total Expenditures 68,338 133,120 215,016 Net Change in Fund Balance $ (12,342) $ (7,288) $ 1,150 2018 2019 2020 BALANCE SHEET Assets Cash and Investments 266,452 197,086 203,703 Cash and Investments: Restricted-VRC Assess Relief 35,000 35,000 35,000 Accounts Receivable - - 54,202 Accrued Interest Receivable 636 566 523 Premium/Discount on Investments (181) (38) (142) Due From Other Governments - 65,398 - Prepaid Expenses 595 300 - Total Assets $ 302,502 $ 298,312 $ 293,286 Liabilities and Fund Balance Accounts Payable 3,140 6,238 62 Fund Balance 299,362 292,074 293,224 Total Liabilities and Fund Balance $ 302,502 $ 298,312 $ 293,286 FUNDS AVAILABLE FOR PROGRAMMING 2018 2019 2020 2021 Beginning Cash and Investments $ 332,336 $ 301,452 $ 232,086 $ 238,703 General Fund Transfer 30,000 50,000 40,000 40,000 Less: Operations 33,802 28,713 17,083 30,000 Dakota Broadband* 3,045 23,996 - - Open to Business 5,513 5,513 5,513 4,500 Site Readiness - - - 20,000 Facade Improvement 25,978 9,500 20,000 20,000 Utility Fee Grant Program - - 2,950 - CDBG Cashflow Timing** - - - 32,141 Redevelopment and Reinvestment Program 20,000 Public Space Improvement Program - - - - RRC Plaza (Committed) 100,000 100,000 100,000 Cash Available for Programming $ 293,998 $ 183,730 $ 126,540 $ 52,062 FUNDING SOURCES • CARES Act American Rescue Plan • Small business grants - $236,900 • $130 billion for local governments • Per capita allocation • City Council allocation during budget • Limited information for eligible uses process • Assistance to households, small • Additional transfers businesses, and nonprofits to aid in the • Year-end General Fund excess response to the public health emergency or to aid hard-hit industries such as tourism, travel, and hospitality CITY OF 0 43o Third St., Farmington, MN 55024 FARMINGTON © 651-280-6800 OFarmingtonMN.gov TO: Economic Development Authority FROM: Kalley Swift, Community Development Specialist SUBJECT: Reallocating Rambling River Center Plaza Funds DATE: June 24, 2021 INTRODUCTION/DISCUSSION The EDA pledged $100,000 at the April 2018 EDA meeting to the Rambling River Center(RRC) Plaza project.The EDA reserved these funds to take on a leadership role for the plaza project which furthers the Downtown Redevelopment Plan and to serve as leverage to get additional financial commitments from other sources such as corporate sponsorships, outside sources, and the general community. As of right now,the RRC Plaza does not have a timeframe for construction.The EDA has discussed interest in reallocating the RRC Plaza funds for other projects.The City Council has identified some projects that should be tackled and funded through the EDA including new wayfinding signage, banners, and holiday decor. The EDA can partially or wholly re-allocate and spend the dedicated $100,000 RRC Plaza funds on these identified projects as well as other projects and programs as it sees fit. Wayfindine The proposal for downtown pedestrian wayfinding signs was reviewed by the EDA in 2020 and the changes and suggestions were incorporated into the final plan. The final pedestrian wayfinding plan includes four signs at high traffic pedestrian locations to direct foot traffic to 10 attractions downtown. Blackfire Creative at 308 Elm Street in downtown Farmington will be able to provide the wayfinding service. Brackets will need to be purchased for attaching these signs to light poles. Valmont in the Farmington Industrial Park services the city-owned light poles, and our Engineering Department is currently waiting on their bid for bracket options and pricing. Banners The Community Development Department is currently collaborating with our Communication Department to draft a design for new downtown banners to be consistent with city branding.These banners will be up year-round. Once the design is finalized, Blackfire Creative at 308 Elm Street will provide a bid. If Blackfire Creative is unable to provide the banner service, our Parks & Recreation Department has utilized a business out of Becker, M N to provide previous downtown banner services. City maintenance staff has completed an assessment of the banner brackets currently on existing city- owned light poles downtown. It is advised to get new brackets with the new banners due to the current condition of the existing brackets. Our Engineering Department is also currently waiting on the bid for banner bracket options and pricing from Valmont. Holiday Decor Prior to our previous Parks and Recreation Director's retirement, he placed a bid request for holiday decor. The bid came back after he retired, and the new Parks and Recreation Director was able to pass the bid and holiday decor information along to me. With EDA funding approval tonight,the holiday decor will be purchased prior to June 30 and the decoration will be ready for pick-up in September. Downtown Sidewalk Replacement Project The downtown sidewalk replacement project is occurring in 2021.The project has an anticipated start date in early July. The downtown sidewalk replacement project outlines additional needs as it is an opportune time to complete public space infrastructure and streetscaping.These needs include, but are not limited to, adding recycling cans to be compliant with Dakota County requirements, benches, and planters. All of these identified needs do not have a current dedicated funding source within the downtown sidewalk replacement project. I mproving the public space infrastructure and streetscapes in the downtown is called out within the Implementation Chapter of the Downtown Redevelopment Plan. The EDA created the Public Space I mprovement Program in 2020 specifically to provide funding for improving the public space infrastructure and streetscapes as called for within the Downtown Redevelopment,TH 3, and other city adopted plans. The intent of the Public Space I mprovement Program is to leverage investment in public spaces for the benefit of the public while providing real,tangible outcomes from adopted city plans. All of the identified public infrastructure and streetscaping projects which should also occur during the downtown sidewalk replacement project are all identified as eligible improvements within the Public Space Improvement Program.The Public Space Improvement Program also specifically calls out cost participation for the downtown brick repair and replacement project.The EDA currently has the opportunity and financial ability to fund the identified streetscape improvements during the sidewalk replacement project. The EDA can participate in being ambassadors for the downtown sidewalk project by advertising the business owner tool box within the sidewalk replacement webpage located at https://clients.bolton- menk.com/f armington/.When the project officially begins,this section will serve as a valuable resource for how businesses can still continue operation during the project and how residents can still use each business.The city is planning a large Open For Business campaign during project duration as well. Utilizing RRC Plaza funds for the four identified projects provides a positive opportunity to further both the impact of the overall downtown sidewalk project in addition to furthering some outlined goals within city adopted plans. Dedicating dollars also allows the EDA to take on a leadership role as it sought to do so in 2018 for the RRC Plaza and allows the EDA to be an ambassador for downtown projects and the downtown environment in general. These downtown improvements will provide a platform for positive community engagement and highlighting before and after photos and stories within our downtown. The EDA may fund as many of the projects outlined as it wishes to. Funding all four projects will deplete the majority of the RRC Plaza funds set aside in the EDA budget.The EDA can also dedicate a specific dollar amount and priority rank projects it wishes to fund.The EDA may also choose to fund specific project(s) outlined based on priorities. As a group, a policy discussion for how reallocating the RRC Plaza funds is needed. Project Total Cost Pedestrian Wayfinding $5,000+ Brackets from Valmont Signs/Brackets Quantity:4 Banners/Brackets $5,000+Brackets from Valmont Quantity:50 Holiday Decor $27,744 Streetscaping $40,000 Total+Brackets $77,744+ Brackets from Valmont Total Estimate "'$85,000-$100,000 Option 1:The EDA assigns a specific dollar amount and prioritizes the four outlined projects. City staff uses the designated amount of funding to fund projects in priority order. Once the funding runs out,the projects stop.This option allows for the EDA to assign a dollar amount to fund some projects identified while still reserving a partial RRC Plaza fund balance. Example:The EDA reallocates $50,000 and ranks the four outlined projects in priority order. City staff completes priority project#1 first, priority project#2 second, etc. until the funds are depleted.The remaining$50,000 RRC Plaza funds are reallocated to other EDA initiatives. Option 2:The EDA chooses specific project(s)to fund from the four outlined projects. City staff completes those project(s)with the RRC Plaza funds. Once the project(s) are complete, city staff will present the remaining RRC Plaza fund balance to the EDA.This option allows for the EDA to fully complete identified projects to completion while reserving a partial RRC Plaza fund balance. Example:The EDA chooses two of the four projects to fund. City staff completes those identified projects and presents the remaining RRC Plaza fund balance to the EDA. Option 3:The EDA allows city staff in Engineering, Parks & Recreation, and Community Development to complete all four outlined projects using the RRC Plaza $100,000 fund. City staff will provide monthly updates and present the final remaining dollar amount once all projects have been expended for. The EDA will reallocate the remaining funds at that time. ACTION REQUESTED The EDA should have a policy discussion on reallocating funding within the EDA budget from the RRC Plaza for 2021.The EDA should approve option 1, 2, or 3 or a different option as the group determines is the best policy decision at this time. ATTACHMENTS: Type Description D Exhibit Downtown Pedestrian Wayfinding Plan o Exhibit Holiday Decor Bid o Exhibit Public Space Improvement Program Locations for Pedestrian Wayfinding Signage Ali II 1 v /* Im . ) 8 5O r ELM ST_ F — # t, ------ K, 411, �. ry ro all 4 _ - �. j OAK ST ;3 qw 4 ' SPRUCE ST Location for Wayfinding Signage on Existing Lightpoles N 250 Feet l f v, ki . � • • � � . • ♦ "_'_-. 40 Bit '144 vka IN In ih lit min lw_ _.__.._. _ e - ,.(,j.� � ■ + `I_.,�5 v. r � � ■sem (� ;� ���+,I ��' z.r• - r. 5 ti *- = r i`•-. t � 1 N a i ❑ .amp; (P • . 1 • • Sign Destination Items 1. North side of Elm Street east of the railroad—Sign will be facing east/west. Sign will include 4 wayfinding blade signs.This is a perimeter/edge sign.The distance to destinations on the back side are listed to let pedestrians how far they need to walk to reach the destination. • Front (East-Bound Traffic)—4 items • Back(West-Bound Traffic)—4 items o T City Hall o F Depot Way Arts Park o Rambling River Center o 2 BLKS T Rambling River Park o Depot Way Arts Park o 2 BLKS t Veterans Memorial o Library o 2 BLKS t Vermillion RiverTrls 2.Southwest corner of 3rd Street and Elm Street—Sign will be facing east/west. Sign will include 6 wayfinding blade signs. • Front(East-Bound Traffic)—6 • Back(West-Bound Traffic)—6 o -> City Hall o '(` Rambling River Park o 4 Rambling River Center o T Veterans Memorial o -> Library o Vermillion River Trls o 4 County Fairgrounds o F City Hall o Schmitz-Maki Arena o F Rambling River Center o Public Parking o F Library 3.Southeast corner of the 3"Street and Oak Street intersection—Sign will be facing north/south. Sign will have 6 wayfinding blade signs. • Front (North-Bound Traffic)—6 • Back(South-Bound Traffic)—6 o 4 Rambling River Center o t City Hall o F Depot Way Arts Park o <— Rambling River Center o T Rambling River Park o Depot Way Arts Park o T Veterans Memorial o T Library o t Vermillion RiverTrls o T Schmitz-Maki Arena o +Public Parking o '(` County Fairground 4. Northwest corner of the Spruce Street and 3 d Street intersection—Sign will be facing north/south. Sign will have 6 wayfinding blade signs. 1 blade sign on the back(south-bound)side will be blank.This is a perimeter/edge sign.The distance to destinations on the back side are listed to let pedestrians how far they need to walk to reach the destination. • Front (North-Bound Traffic)—6 Back(South-Bound Traffic)—5 o 4 BLKS F Schmitz-Maki Arena o '(` Library o <-t Vermillion River Trls o 4 BLKS Schmitz-Maki Arena o t Rambling River Center o 4 BLKS Vermillion River Trls o t Depot Way Arts Park o 4 BLKS Rambling River Park o <-T Rambling River Park o 6 BLKS '(` County Fairgrounds o Veterans Memorial Farmington, MN Sale prices good until June 30, 2021 Quantity Item# Description Reg.Price Sale Price Total 32 PMSFPCRY60L-NLD 5' Prairie Crystal 78 Warm White $606.00 $419.00 $13,408.00 LED-Approximate 21 lbs. 32 PMBWR36L-NLD 36''Bow Wreath-Approximate $398.00 $289.00 $9,248.00 18lbs. 32 PWMP1215L-NLD 12"x 15MP Pole Wrap-LIT- $190.00 $159.00 $5,088.00 Approximate 9.5lbs. BOW NOT INCLUDED. Customer will pick up. Total $27,744.00 All Mounting hardware included. Kristina Kullberg Sales and Marketing Manager Northern Lights Display 13982 Industry Ave Becker, MN 55308 Phone: 877.974.3205 Ext. 201 kkullberg@northernlightsdisplay.com www.northernlightsdisplay.com CITY OF T Q43o Third St., Farmington, MN 55024 FARMINGTON o 651-280-6800 gea� C�ri�� Farmington M N.gov i City of Farmington Public Space Improvement Program There are numerous "small victories" outlined within the Downtown Redevelopment Plan,the Trunk Highway 3 Corridor plan, and other various adopted city plans.These "small victories"would provide benefits to all sectors of the public through creation, maintenance, and updates to public spaces. Victories outlined in adopted plans, no matter how small, still need the effort necessary to see it become a reality.This is where the EDA can step in and set aside EDA funds either annually or bi- annually to push small victories through to completion for the benefit of the general public. The guidelines of the Public Space Improvement Program include the following: The Economic Development Authority(EDA) has made funding available to aid in the completion of specific goals and outcomes outlined within city adopted plans including, but not limited to,the Downtown Redevelopment Plan and the Trunk Highway 3 Corridor Plan.This program is focused on providing tangible,visible outcomes and progress to city plans for the benefit of all members of the public.This program is available strictly to provide assistance with financing for projects with focus on public improvements. Eligible Properties Any property and public space owned by the City of Farmington.This criteria includes right of way for access to update current city signage and addition of new signage.This means that only the City of Farmington can identify projects for EDA funding approval under this program. Funding Source EDA fund balance of$10,000 annually should be set aside for these projects. Funds can roll over if not used during the year and can be bookmarked for higher costing projects. A request for more funding for certain projects can also be made using internal EDA funds already in the budget or a request for funds can be made through the City Council and outside sources. Program Terms and Requirements Funding allocated for a Public Space Improvement project should be used and completed within the same year. A project may be bookmarked a year prior to completion with dedicated Public Space Improvement funding if needed.This will ensure the benefit of the new improvement project can be used/benefitting the public as soon as possible. CITY OF T Q 43o Third St., Farmington, MN 55024 FARMINGTON ® 651-280-6800 Farmington M N.gov Program Objectives The intent of this program is to leverage investment in public areas for benefit, use, and enjoyment of all sectors of the public.This program is dedicating EDA funds to move adopted city plans along and provide real,tangible outcomes which everyone can see and enjoy. Program Definitions Program Administrator The Program Administrator shall be the City of Farmington Economic Development Authority,430 Third Street, Farmington, MN 55024, phone 651-280-6820. Applicant The only applicant available for submittal and approval of a Public Space Improvement project is the City of Farmington. Building Official The Building Official for the program shall be a City of Farmington employee and shall provide plan review and technical expertise relating to inspections,construction quality, code compliance and scope of work to be accomplished if required. Target Area While any property and public space owned by the City of Farmington is available for benefitting from this program,there will be an intentional focus on work in the downtown area,Trunk Highway 3, and wayfinding signage throughout the city. Eligible Improvements Funds may be used for projects directly outlined as an outcome, implementation step,or identified need for public benefit within a City of Farmington adopted plan. Funds may be used for, but are not limited to: • Wayfinding creation and upgrades • Bike racks • Benches,seat walls, bump outs,small community/library plazas, areas for public seating, causal public gatherings,trash bins, etc. • Community gardens • Refurbishing Depot Way Arts Park 1T1(OF O 43o Third St., Farmington, MN 55024 FARMINGTON © 651-280-6800 Farmington MN.gov • New banners on downtown light poles with new logo.The city owns and maintains streetlights primarily in the downtown and Vermillion River Crossings. • Adding lighting to already erected City of Farmington entrance/identification signs • Adding additional signage and identification pillars for increasing visibility and awareness for our downtown, historic areas, etc. throughout the city to increase the feeling of community • Refurbishing current signage on 2nd Street/Elm and Spruce/Denmark or removal/replacements of these signs with new ones • Improving character streets,such as Elm Street, 2nd Street,etc.with natural beauty pieces such as increased trees,flower pots, bushes, etc. • Increasing walkability and pedestrian friendly areas in the city.This can include pedestrian wayfinding, pedestrian activated signals, and visible crosswalk pavement markings. • Cost participation for the downtown brick repair and replacement project • Public art Ineligible Projects • Projects not located within public space and City of Farmington owned property. Special Conditions Contractors All project work undertaken with City of Farmington funds must be completed by bona fide contractors who are licensed (as applicable) and provide proof of insurance. Procedures Application Intake Applications are accepted from the City of Farmington annually or bi-annually and are reviewed based upon fund availability. Applications will be reviewed for participation in the program based upon the following guidelines: 1. Whether the project area is a public space and owned by the City of Farmington. 2. The degree of the project's overall impact on the surrounding area 3. If the project is outlined in a city adopted plan Project Approval The application will be approved by the Farmington EDA. CITY OF O 43o Third St., Farmington, MN 55024 FARMINGTON o 651-28o-6800 ®� FarmingtonMN.gov MOOallaiggigis EDA Payment All EDA funds will be disbursed by the EDA. Payments will be made directly to the appropriate contracts/workers during project work and completion. Project improvements need to meet satisfaction of the city Building Official and final project inspection by the Project Coordinator. Paid receipts will be required to be kept on file. EDA Reporting Requirement The EDA will be provided monthly project updates upon approval of an eligible project. CITY OF O 43o Third St., Farmington, MN 55024 FARMINGTON © 651-280-6800 Farmington MN.gov TO: Economic Development Authority FROM: Kalley Swift, Community Development Specialist SUBJECT: June Director's Report DATE: June 24, 2021 INTRODUCTION/DISCUSSION New Community Development Director Samantha DiMaggio's first day as Community Development Director was June 21, 2021. Please help welcome Sam! BR&E Update Our first two BR&E visits occurred this week on June 21 and June 22.The businesses visited were Meadowview Orthodontics and The Club House Childcare and Preschool. Business visitors included our City Administrator, Community Development Director, Community Development Specialist, City Councilor/EDA Member Katie Bernhjelm and EDA Member Rob Carpentier. Our pool of business visitors will be expanding next month. I will present to each city advisory board and commission in July to advertise to the Planning Commission, Parks & Recreation Commission, Rambling River Center Advisory Board, and Water Board Members about becoming business visitor volunteers for our BR&E Program. New Inquiries May One residential redevelopment inquiry downtown One commercial operation looking for either greenfield development or redevelopment/reinvestment in a vacant/underutilized building within the city Three industrial operation inquiries Two retail operation inquiries June One manufacturing operation One restaurant operation EDA Calendar Joint Meeting The EDA Monthly Meeting Calendar has a joint meeting with the Planning Commission scheduled for July.This joint meeting will occur later in the summer or early fall. EDA Members should provide a list of items or topics it would be interested in discussing with the Planning Commission so city staff can create an agenda for the meeting. Topics can be brought up at an EDA Meeting or emailed to Community Development Director, Sam DiMaggio or Planning Manager,Tony Wippler. Communication Plan The EDA Monthly Meeting Calendar has a Communication Plan Update scheduled for June. Our Communication Department will collaborate with Sam and the Community Development Department, and the update will be provided later this year. NEXT MEETING Our next regular meeting is scheduled for July 22, 2021 at 6:00 p.m.This meeting will include dedicated time for an open group discussion between the EDA and our new Community Development Director. ACTION REQUESTED None,this report is intended to be a monthly update.