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Home My WebLink About10.26.15 EDA Packet AGENDA REGULAR ECONOMIC DEVELOPMENT AUTHORITY MEETING October 26, 2015 5:00 PM Room 170 Todd Larson, Chair; Geraldine Jolley, Vice-Chair Douglas Bonar, Steve Wilson, Kirk Zeaman 1.CALL TO ORDER 2.PLEDGE OF ALLEGIANCE 3.ROLL CALL 4.APPROVE AGENDA 5.CITIZENS COM M ENTS 6.CONSENT AGENDA (a)Meeting Minutes (9/28/15 Regular Meeting) (b)Monthly Statements 7.PUBLIC HEARINGS 8.DISCUSSION ITEM S (a)2016-2018 Strategic Plan for Economic Development 9.DIRECTOR'S REPORT (a)October Director's Report 10.ADJOURN City of Farmington 430 T hird Street Farmington, Minnes o ta 651.280.6800 - F ax 651.280.6899 www.ci.farmingto n.mn.us TO:Ec o nomic Development Authority FROM:Adam Kienb erger, Community Develo p ment Director SUBJECT:Meeting Minutes (9/28/15 R egular Meeting) DATE:Octo b er 26, 2015 INTRODUCTION/DISCUSSION Please find attac hed the minutes from the Septemb er 28, 2015 Regular EDA Meeting. ACTION REQUESTED AT T ACHM ENT S: Type Description Backup Material Meeting Minutes (9/28/15 Regular Meeting) City of Farmington 430 T hird Street Farmington, Minnes o ta 651.280.6800 - F ax 651.280.6899 www.ci.farmingto n.mn.us TO:Ec o nomic Development Authority FROM:Adam Kienb erger, Community Develo p ment Director SUBJECT:Mo nthly S tatements DATE:Octo b er 26, 2015 INTRODUCTION/DISCUSSION Please find attac hed the monthly s tatements fo r the EDA. ACTION REQUESTED AT T ACHM ENT S: Type Description Backup Material September EDA Budget Summary 251,364.27$ 2015 % Fund Description Budget Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec Total Balance Received 2000 ECONOMIC DEVELOPMENT AUTHORITY Fund Balance 251,364.27$ 257,592.79$ 264,400.93$ 247,144.43$ 272,970.18$ 280,162.24$ 286,461.30$ 293,265.62$ 300,061.81$ 307,056.25$ 307,056.25$ 307,056.25$ Revenues 4011 TIF Redistribution 1,494 4404 Federal Grant 19,000.00 4950 Investment Interest 750 56.08 299.59 268.24 270.67 257.27 233.91 246.39 182.68 251.68 2,067 (1,317) 275.53% 5205 Operating Transfers 90,000 7,500.00 7,500.00 7,500.00 7,500.00 7,500.00 7,500.00 7,500.00 7,500.00 7,500.00 5350 Miscellaneous Revenue - - #DIV/0! Total 90,750$ 7,556.08 7,799.59 7,768.24 26,770.67 7,757.27 9,228.13 7,746.39 7,682.68 7,751.68 - - - 2,067$ (1,317)$ 2.28% 2015 % Budget Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec Total Balance Expended Expenditures 6401 Professional Services 10,000 - 10,000 0.00% 6403 Legal Services 2,000 45.90 61.20 535.50 61.20 198.90 45.90 76.50 107.10 1,132 868 56.61% 6404 IT Services 3,600 300.00 300.00 300.00 300.00 300.00 300.00 300.00 300.00 300.00 6422 Electric 300 19.31 18.25 17.11 17.64 18.72 20.03 20.43 20.76 20.17 172 128 57.47% 6426 Insurance 450 12.75 12.75 7.41 10.97 10.97 10.97 10.97 10.97 10.97 99 351 21.94% 6445 Postage 49.00 6450 Outside Printing 2,200 90.00 90 2,110 4.09% 6455 Legal Notices 35.96 6460 Subscriptions & Dues 3,090 880.00 495.00 1,375 1,715 44.50% 6470 Training & Subsistance 4,930 37.28 527.49 9.63 8.56 324.88 27.51 478.26 1,414 3,516 28.67% 6485 Mileage Reimbursement 750 32.32 71.76 65.09 24.15 28.06 209.19 42.26 473 277 63.04% 6550 Developer Payments 19,000.00 6570 Programming Expense 13,430 5,000.00 2,015.00 495.00 319.00 7,829 5,601 58.29% - - Total 40,750$ 1,327.56 991.45 25,024.74 944.92 565.21 2,929.07 942.07 886.49 757.24 - - - 12,584$ 24,566$ 30.88% Fund Balance 257,592.79 264,400.93 247,144.43 272,970.18 280,162.24 286,461.30 293,265.62 300,061.81 307,056.25 307,056.25 307,056.25 307,056.25 Revenue and Expenditure Descriptions August Revenues September Revenues 4950 Investment Interest August Interest Allocation September Interest Allocation 5205 Operating Transfers EDA Levy & LGA Transfer EDA Levy & LGA Transfer August Expenditures September Expenditures 6403 Legal Services August Legal Services September Legal Services 6404 IT Services Monthly IT Allocation Monthly IT Allocation 6422 Electric Elm Street Sign Elm Street Sign 6426 Insurance Allocation of Property & Liability Insurance Allocation of Property & Liability Insurance 6470 Training & Subsistance August Chamber lunch, IEDC Registration, EDA Summit Network Program 6485 Mileage Reimbursement 6570 Programming Expense Positively MN Tour City of Farmington 430 T hird Street Farmington, Minnes o ta 651.280.6800 - F ax 651.280.6899 www.ci.farmingto n.mn.us TO:Ec o nomic Development Authority FROM:Adam Kienb erger, Community Develo p ment Director SUBJECT:2016-2018 S trategic Plan for Ec o nomic Development DATE:Octo b er 26, 2015 INTRODUCTION/DISCUSSION During our Oc to b er meeting we will be taking the time to c raft o ur 2016-2018 Strategic Plan for Ec o nomic Develo p ment. Dr. C raig Wald ro n will facilitate the d evelopment o f this p lan with a tentative s ched ule as fo llo ws. Pleas e no te a meeting start time o f 5:00 p.m. 5:00 p .m. – Introductio ns, bac kgro und , and proc es s overview 6:00 p .m. – Dinner provid ed 6:00 p .m. – Dis c us s priorities , s trategy, and implementatio n 8:30 p .m. – Wrap-up ACTION REQUESTED Outline the EDA’s 2016-2018 Strategic Plan fo r Econo mic Develo p ment. City of Farmington 430 T hird Street Farmington, Minnes o ta 651.280.6800 - F ax 651.280.6899 www.ci.farmingto n.mn.us TO:Ec o nomic Development Authority FROM:Adam Kienb erger, Community Develo p ment Director SUBJECT:Octo b er Directo r's Report DATE:Octo b er 26, 2015 INTRODUCTION/DISCUSSION EDA Structure City Counc il ap p ro ved the additio n o f two IS D 192 s cho o l board s eats to the EDA b o ard at their meeting on Octo b er 19th. A p ublic hearing was c o nducted and an enabling res o lutio n and ordinanc e revis io n were ap p ro ved. Pac ket materials fro m the City Co unc il meeting can be viewed o n the C ity’s website: http://farmington.no vus agend a.c o m/agendap ublic /C o verS heet.aspx?ItemID=862&MeetingID=98. When the p roc es s is complete, it is antic ip ated the new members will jo in the EDA in February at the same time o ther c ommis s ion and advis o ry b o ard ap p o intments are mad e. This c hange will necessitate a new meeting d ate and time be s et fo r the EDA s tarting in 2016. This new date and time needs to be decided at our October meeting in order to meet publication deadlines. Downtown Redevelopment Plan On September 21, 2015, the City Co uncil appointed a Task F o rce to o vers ee the creatio n o f a Downto wn Redevelo p ment Plan. S teve Wilson serves as the EDA rep res entative on the Tas k F o rce. The Tas k Forc e held its firs t meeting o n October 7th. Three additio nal meetings of the Task F o rce are anticipated to o c c ur b etween now and Feb ruary. Meeting notes along with projec t d etails are availab le on the City’s web s ite: http://www.c i.farmingto n.mn.us /Dep artments/Ec o nomic Develop/DRP.html. NEXT MEETING Our next meeting is s ched uled fo r No vember 23rd at 6:30 p.m. ACTION REQUESTED None, this rep o rt is intend ed to be a monthly up d ate o n various develo p ment and indus try related to p ics.