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269965 r-�- WHITE - GTV CLERK COIlI1C1I � PINK - FINANCE GITY OF SAINT PALTL -��"t'�� CANARY -.DE�A�TMENT �✓ Bl_UE ~ MAVOR File NO. ncil Resolution Presented By Referred To Committee: Date Out of Committee By Date RESOLVED, By the Council of the City of Saint Paul, that the budget of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota, for the calendar year 1978, having been heretofore filed by said Authority with the Budget Director of said City, in accordance with the budget procedures of said City, applicable thereto, the particulars of said budget of said Author- ity being the following: (Item 1) Budget requiremer�t for the fiscal year 1978 for accumulation in the redevelopment project fund for the purpose of the redevelopment provisions of Minne- sota Statutes, Sections 462. 411 through 462. 711 is the one mill limit authorized by law . . . . . . . . . . $360,000.00 (Item 2) Budget requirement for relocation service for the fiscal year 1978 is the one-tenth mill limit authorized by law . . . . . . . . . . . . . . . . . . . . . . . . $ 36,000. 00 � is hereby in all things approved; and, be it FURTHER RESOLVED, That in accordance with the statutory authority contained in Minnesota Statutes, Section 462. 545, Sub- division 6, there be and is hereby levied for the support of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota, on all property taxable within the City of Saint Paul, with the proper adjustments as authorized by State law, a tax collectible in 1978, sufficient to produce the amounts specified under Items 1 and 2 above, but in no event to exceed the mill limitations as provided by law and as specified above; and, be it COUIVCILMEN Requested by Department of: Yeas Na}�s Butler In Favor Hozza Hunt Levine __ Against BY — Roedler Sylvester Tedesco Form Approved by it Att ey Adopted by Council: Date — Certified Passed by Council Secretary BY Bv . -. Approved by Mayor: Date Approv May for ubmis o to Council By BY WHITE — CITV CLERK COl1fIC1I �h��G�� PINK � FINANCE G I TY OF SA I NT PAU L �:�C, P CANARV D,E.�e?r'7�RTMENT • 'F OLUE — MAYOR File NO. �� Council Resolution Presented By Referred To Committee: Date Out of Committee By Date FINALLY RESOLVED, That in accordance with Minnesota Statutes, Section 462. 545, the City Clerk is hereby directed to certify a copy of the tax levy, as aforesaid, collectible in 1978 to the County Auditor of Ramsey County immediately upon adoption and approval of this resolution. Approved: Approved: .! �' � �� Dir. , Dept, o Finance & Manage. —2— 'C ty Budget irector 5ervices COUNCILMEN Yeas Nay�s Requested by Department of: Butler �_ �n Favor Hozza Hunt (� Levine �� __ Against BY Roedler S ylvester Tedesco ._--��° Adopted tz,}� Council: Date QC'�' 2�-rj �97] Form Approve by 'ty t orne Cer�rfied Pass y Cou cil Secretary� BY- �� Approv Mavor: Date �6T � 6 1977 Approved by Mayor for Submission to Council By BY PUSLISHED OCT 29 1977 , � ; , ; : - .�„b,9 q I, �'" � , . , . , - � ., �. , ,; . , . , - _ , . J ' , " � . � � . . . - \ . � �.\. . . � � \ . . . � . . � � � . . . � � . � . . , _ . ., . . . . . . � � . . . . � , ,. . .. �, � . . . . . . � . . . . . - ,.. � ,. ! .. . . . . . . . . , � , . . t• . . , �. . ". � - " � . �, . . � .. . . , , . �. . � � . � �� .i . . . , . , . _ _ . . 1 ., . , . , , . , , . . . . � . I � . . - . ` � � � , . \ , r' � ' � �� - � � , - � �� , ' . . _ ` � �,�� : , ' - -��► ' , , ' � ,: , . �r �s: '�� , ' . � � � , , , � , ;, ' S��t�i.�t� fa s �ilied �g o�" ��1�� +a�' � B�. ,�'aNd E� �, + o ' , � ��. �: �9�65,, Qont�i,� �as #� � ,�`�` t�e a�o�t v� ,+�se �t .�¢�+k�wu�n� . _ M�oa'il,r �� t,or t� 1►�e+�r 19'�'8. ; , , , . , . �: � � . 11�x,y fi►l�,+� ��s - , . , . - , , � , , , - . .�., . C31� ��rrie�k � ' , attirh. � . , � , , . , � . . , . ' , ' � � � , �, Il�/w� ' • , , � r � ' . . ,� , , , _ , � - , . . ,; - , , , , ; . - ..��.�.r�'�,,.� �:,�.� C�TY o,, CITY OF SAINT PAUL �°� '- DEPARTMENT OF PLANNING AND ECONOMIC DEVELOPMENT � �iiii�i b `',p� � ^�: GARY E. STOUT,DIRECTOR �,� 55 East Fifth Street, Saint Paul,Minnesota,55101 612-298-5775 George Latimer Mayor N � ! �! ��C.� � � � � �l �C'G `j''�� ,�°� 5 OC'� �°�� '�� 6 1 ^, :,, , ;, �70 . Mr. Richard Schroeder October 4 , 1977 Budget Director 367 City Hall St. Paul, Minnesota 55102 Re: 1978 HRA Budget and Tax Levy Dear Mr . Schroeder: Enclosed and transmitted herewith is the HRA Redevelopment and Relocation Tax Levy Budgets for 1978, together with a certified copy of Resolution No . 77-9/28-1 approving the same and levying one mill adjusted for rede- velopment and one tenth mill adjusted for relocation purposes . Pursuant to provision of Minnesota Statutes , Section 462. 545, Subdivision 6, the amount of the tax levy is to be approved by the City Council and certified to the County Tax Department by October lOth. Yours very truly , �...,..._. , � . � �''� Gary E. Stout Director /jth �5-66 MOUSii�d� AND REDEVE�LOP1��lVT AUTN�R�TY OF TN� C�TY 0� �A�NT PAUL, f'��i�NESUTA .,., • _. , CERTI FI CA1�E: OF S�CRLT�'��Y � The undersigned herehy certifies as follav�s : 1) Tnat she is the duly qualif:ied Gnd acting Secretary of the Housing and Redevelopment Authority o.f the City of Saint Paul, Minnesota, herein called the "Local Public Agency'° anc� the ]ceeper of the records of the Local Public �c�i:.I1Cy; � 2) That the attached Resolution No . 77-9/28-1 is a true and correct copy of the resolution a� adopted on the 28th day of September , 19 77 ; 3) That tne seal affixed l�elow constitutes the official seal of the Local Publ�_c Fgency axid -tn.is Certificai�e is here?�y executea under such official seal; anc� 4) Tnat the unc��rsignec3 is c�uly auchorizec? to execute this Cer.tific,ate. T�V WITi`Ti:.SS WFiEl:F'OI', I have hereunto sct �ny hand and the seal of t;ie st�id rousing and redeveloL�i�ient �,.�it_hor:it.y ��f t.h� Ci.t�� ot � Sair�t: Paul, i�inneso�ta , this 4th_ day of ` October _ , ' 19_77 , , - �� C�._._� _.___.._. ,. CI�TARY ?��J�� ( S N� F. L ) t � j • , , i .�:. y . ' RESOLUTION NO. 77�9/28-1 � RESOLUTION APPROVING REDEVELOPMENT AND RELOCATION BUDGETS FOR THE YEAR 1978 AND LEVYING ONE MILL ADJUSTED R:CDEVELOPMENT TAX AND ONE TEN�•H MILL ADJUSTED RELOCATION TAX RESOLVED by the Board of Commissioners of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota that the Redevelopment Budget for the calendar year 7.978 , including tax levy on all real and personal property within the City of Saint Paul, witt-i all adjustmerts permitted by law, of $360 , 000. 00 and the Relocation Budget for the calendar year 1978 , including tax levy on all real and personal property within the City of Saint Paul, with all adjustments p�rmitted by law, of $36 , 000. 00 , are hereby approved. , RE50LVED FURTFiER that pursuant to the provisions of Minnesota Statutes , Section 462. 545, Subdivision 6 , the Housing and Redevel- opment Authority of the City of Saint Paul, Minnesota does hereby levy for the year 1978, including an amount equivalent to one mill computed in the manner provided by T�Iinnesota Statutes ,� Section 273. 1102 , with all adjustments authorizecl by law, and does hereby further levy an amnunt equivalent to one tenth of one mill computed in the manner prov�ded by Mi.nnesota Statutes , Section 273. 1102, with all adjust- ments authorized by law. RESOLVED FTPdALLY that the Ex�cutive Director is hereby authorized and di�ected to submit the 1978 Redevelopment and Relocation Tax Levy Budqets and levies to the Mayor of the City of Saint Paul for � inclusion in the Budget of tne City of Saint Paul, Minnesota, to be submitted to the Council of the City of Saint Paul for consider- ation, approval ar_d certification in the manner provided by law. hOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT PAUL, MINNESOTA . . ' � �,��.��,� REPORT TO THE COMMISSION.ERS DATE AUGUST 31, i9�� R E G A R D I N G APPROVAL OF TAX LEVY FUND BUDGET FOR 19 78 ACTION REQUESTED: Staff recommends the approval of the Tax Levy Fund Budget for 1978 (Exhibits B & C) and the transmittal of same to the City of Saint Paul for consideration. BACKGROUND: Exhibit A presents the current budget listing the actual and estimated expenses for 1977 for the Redevelopment portion of the Tax Levy Fund. Attached is a narrative explanation. Based on the actual income and expenses to date, and the anticipated income and expenses for the remainder of 1977, we project a balance of $240,126 at the end of 1977. Exhibit B presents the proposed budget for 1978 (Redevelopment portion) . Attach.ed is a detailed explanation of each line in the proposed budget. Exhibit C lists actual and estimated expenses for the Relocation portion of the Tax Levy Fund for 1977. Exhibit D presents the prop�sed hudget detail for 1978 (Relocation portion). I�DMINISTRATION:REA:cac Attachments . _ EXHIBIT nA�� !'�'��,{n,, � . ..1.:��.. � ,Y: TAX LEVY FUND - REDEVELOPMENT `" ` 1977 ACTUAL AND ESTIMATED INCOME/EXPENDITURES Balance in Fund 12/31/76 - Cash on Hand, Investments, Accounts Receivable $1,260,003 A. Income - Routine 1. Tax Levy - Actual & Estimated $ 359,090 2. Rental Income - Downtown - R-20 150,000 3. Interest on Investments 30,000 4. Other Income 16,000 Total $ 555,090 Total on Hand Plus Receipts $1,815,093 5. Less Escrowed Securities - Central Village Construction Loans 300,000 Total $1,515,093 B. Expenditures - Routine 1. Administrative Expenses - Downtown (R-20) $ 83,000 2. General Expense 110,000 3. Payments-in-Lieu of Taxes - Downtown (R-20) 30,000 4. Minn. R-26 Riverview 5,000 5. Minn. R-37 Concord Terrace 35,000 6. Economic Development 111,842 Total Routine $ 374,842 C. �xpenditures - Extraordinary Tax Increment Financing Advance $ 30,000 Central Village 109,125 Summit Place 76,000 Extraordinary Lot Development 90,000 Rice Marion 225,000 Fisher Nut Campany 70,000 Block 7A Redevelopment 180,000 Potential Developers 320,000 Total Expenditures Extraordinary $1,100,125 Grand Total Expenditures $ 1,474,967 Balance and Reserve $ 40,126 Anticipated Recovery - Central Village 2U0,000 NET BALANCE AND RESERVE 12/31/77 $ 240,126 . �.��,� EXHIBIT "A" NARRATIVE EXPLANATION BUDGET DETAIL - 1977 A. INCQME 1. Certified tax levy including state funds of $95,801. 2. Rental income on downtown parking lots. 3. Interest on investments of cash reserves. 4. Other income includes rental incomes on HRA-owned property, 67 West Congress, as well as rentals on equipment purchased fram Tax Levy Funds charged to programs utilizing such equipment. 5. Securities escrowed to Central Village for construction in the amount of $300,000 in accordance with an agreement with the Northwestern National Bank. B. EXPENDITURES - ROUTINE 1. Administrative expenses for the downtown project are charged against the Tax Levy Fund. 2. General expenses accrue fram those grograms not identified with federal activity. Funds are needed to initiate and plan programs which are ultimately funded by other permanent sources. These initial costs are usually not reimbursable. Also included in this would be audit costs by the state public examiners (las t audit $18,800) and other expenses that are charged to this fund at the direction of the Board. 3. Payments in lieu of taxes represent 20X of rents received from operation of temporarj► parkiug lots in the downt•own project. 4. The HRA, after close out of the R-26 federal program, continues to have nominal expenses related to the close out of this project. 5. The project Minn. R-37, Concord Terrace, was closed out in 3une of 1974. There was some -continuation. of activity which the Tax Levy Fund had to absorb. However, there were also some incomes that were derived from investments of surplus funds that were escrowed into this project at the time of close out. 6. �'conamic Development. An approved budget of $111,842 for this activity formally funded by the City now being charged against the Tax Levy Fund Budget. C. EXPENDITURES - EXTRAORDINARY 1. Advances for staff time on tax increment financing project, specifically Park Nur se ry. • � Exhibit "A" Narrative ��, �� Page 2 • �, � . R'� - .i'_..�Ci`� 2. Central Village. There remains an amount of $109,125 of a board-approved budget commitment on this project. This whole area of activity is being reviewed by staff and some possible modifications will take place. 3. Summit Place. This continues to be a potential board-approved commitment against the 1977 Tax Levy Fund. 4. There continues to be obligations wi.th SAC charges for low and moderate income housing and extraordinary lot costs which existed prior to this policy change. S. Rice Marion. This project is now under construction and the details on Exhibit "A" for 1977 reflect the final payouts made to the project. 6. Fisher Nut Company. This is an HRA board-approved commitment for this project. The sale of this property for $65,000 will be recognized as income in the budget request for 1978. 7. J31ock 7A Redevelopment. As a result of negotiations and discussions with the developers and the Minnesota Housing Finance Agency, a long-term loan in the amount of $300,000 will be required to establish escrow funds for covering costs. The short-term loan that has already been made towards the project will be recycled into this long-term loan. The net result will be that an additional $180,000 will be used fram line C, Expenditures - Extraordinary far Potential Developers. 8. Potential Developers. There are no additional firm commitments being con- sidered at this time other than the UniDale Shopping Center special protective reserve fund of up to $100,000. D. BALANCE AND RESERVE It should be noted that we have a projected balance and reserve at December 31, 1976 of only $3,039. It should also be noted that dates of anticipated recovery amounts cannot be predicted, and that the $200,000 may not be received until late in the year. � >_ p�� EXHIBIT "Br� TAX LEVY FUND PROPOSED BUDGET - 1978 Projected Balance 12/31/77 $ 240,126 A. Income 1. Estimated Tax Levy $ 355,500 2. Rental Income - Downtown 90,000 3. Interest on Investments 8,OOQ 4. Other Income � 15,000 Total Anticipated Income $ 468,500 On Hand Plus Receipts $ 708,626 Recovery Anticipated - Central Village $ 300,040 Recovery Anticipated - Fisher Nut Company 65,000 Total Available $1,073,626 B. �xpenditures - Routine 1. Administrative Expense - Downtown $ 75,000 2. General Expense 110,000 3. Payments-in-Lieu of Taxes 18,000 4. Econamic Development Budget 125,975 Total Routine Expences Y 328,975 Balance Available for Extraordinary Expenses $ 744,651 C. Expenditures - Extraordinary 1. Special Revenue Bond Sale Advances $ 50,000 2. Extraordinary Lot Costs - Previous Commitments 45,000 3. Soil Tests 10,000 . 4. Land Surveys (Property Surveys) 25,000 5. Utility Connections (Disposition Parcels) 75,000 6. Potential Development Assistance - To Be Determined by Board/Council 500,000 Total Extraordinary Expenses $ 705,000 PROJECTED BALANCE AND RESERVE 12/31/78 $ 39,651 ' � EXHIBIT "B" NARRATIVE EXPLANATION � -�� g�, BUDGET DETAIL - 1978 F'"�','3�^�� A. INCOME , 1. Estimated Certified Tax Levy including state funds. 2. Rental Income - Downtown. Anticipated revenue is based on parking lots existing at this point recognizing that Block A and perhaps Block C wi.11 be eliminaCed from this revenue source sometime during 1978. 3. Interest on investments of cash reserves. 4. Other Income. Rental income from existing Tax Levy Fund assets, incl.uding equipment owned by the Tax Levy Fund and used by other programs. B. EXPENSES - ROUTINE 1. Administrative Expenses Downtown. After the close out of the project these expenses are charged to Tax Levy until all local work is completed and all property sold. Generally, revenue from parking lots offsets expenses. 2. General Expense. For those obligations not identified with federal activity such as front end and close out costs and federal programs and audit costs of state public examiners and other expenses that are charged to this fund at the direction of the Board. 3. Payments in Lieu of Taxes - Downtown. Based on 20% of gross rents received in the downtown project. 4. Econo�ic Development Budget. Per budget submission of the Planning and Economic Development Department. C. EXPENDITURES - EXTRAORDINARY 1. Special Bond Sale Advances. It is anticipated that the HRA Board and staff will process six special revenue and/or direct mortgage bond sales during 1978. Tax Levy funds will be used to cover up-front legal, administrative and other costs until such time as these items can be recouped as a part of the bond sale. 2. HRA poiicy was recently changed to disallow payments for extraordinary lot developmenr_. Money budgeted is for commitments existing prior to palicy change date. 3. ,4. , & 5. Expenses required for land marketing purposes; these expenditures appear here because they were not allowed to be included in the Community Development Year II budget. 6. This estimate of developer assistance is based on experience duriag. the last two years and projected involvement during 1978 in assisting new development proposals. . . . 1 p�,��/��,Y.._ r .�~" �, ��: � _, t_..,_r EXHIBIT "C" TAX LEVY FUND - RELOCATION 1977 ACTUAL AND ESTIMATID Estimated Certified Levy $35,910 Expenses Salaries $23,400 Travel 700 Employees Benefit Contributions 3,980 Publications 100 Sundry Overhead, Rent, Stationery, Postage, Utilities, Etc. 3,510 Telephone & Telegraph 2,000 Relocation Financial Assistance 2,220 Total Expenses $35,910 �� EXHIBIT "D" TAR LEVY - RELOCATION PROPOSED BUDGET - 1978 Estimated Certified Levy $35,90Q Expenses Salaries $23,200 Travel 800 Employees Benefit Contributions 3,900 Publication 100 Sundry Overhead, Rent, Stationery, Postage, Duplicating, Etc. 2,800 Telephone & Telegrpah 2,000 Relocation - Financial Assistance 3,100 Total Expenses $35,900