HomeMy WebLinkAbout10-06-14 Council PacketWORK SESSION AGENDA
CITY OF LINO LAKES
Monday, October 6, 2014
CITY COUNCIL WORK SESSION
Community Room (not televised)
6:00 P.M.
Council will hold a closed session to discuss 35E Assessment Appeals
beginning at 6:00 p.m. in the Council Workroom
1. Fire House No. 2, Preliminary Site and Building Plans
2. EDAC Economic Development Plan
3. 2015 Budget – Fund Reserves
4. Monthly Progress Report
5. Review Regular Agenda
Adjourn
WS – Item #1
WORK SESSION STAFF REPORT
Work Session Item No. 1
Date: October 6, 2014
To: City Council
From: John Swenson, Michael Grochala, Jeff Karlson
Re: Preliminary Site and Building Plan Review for Fire Station at Birch St. &
Centerville Rd.
Background
Following selection of the preferred building site on August 11, 2014, staff has been actively
working with the design team to develop a schematic site plan and floor plan that meets the
future needs of the Lino Lakes Public Safety Department. Staff had the opportunity to visit other
fire facilities and to meet with fire personnel in preparation for programming the new station.
Quinn Hutson of CNH Architects will be present at the meeting to provide an overview of the
progress that has been made to this point and to discuss the four primary components of the
project, which includes site plan, floor plan, floor image, and cost estimate.
The proposed floor plan accommodates the day-to-day training and operational needs of the
department while also providing a community meeting room.
Off-Site Improvements
Staff is also working with WSB and Associates to develop plans for the extension of sanitary
sewer and water main, and for turn lane improvements to service the site. Development of this
site should also include evaluation and planning for co-location of other municipal services. Co-
location provides financial benefit to the community in terms of shared costs. For example, the
drive lanes and turn lanes will provide access not only to the fire station but also the future
recreational complex. There are also plans for a well, pump house, and water reservoir on the
site. Staff is continuing to evaluate placement of a public works facility in this location that
would result in long-term savings for the community.
Requested Council Direction
Staff is requesting council comment on the preliminary plans.
Attachments
None.
WS – Item #2
WORK SESSION STAFF REPORT
Work Session Item No. 2
Date: October 6, 2014
To: City Council
From: Michael Grochala, Community Development Director
Re: EDAC Economic Development Plan
Background
The Economic Development Advisory Committee (EDAC) has as its directive to help the
city council encourage growth of new and existing business. The purpose of the
Economic Development Plan is to identify goals and objectives and focus on key
strategic initiatives given available resources. Through a series of workshops EDAC
assessed four Areas of Opportunity:
• Development and implementation of a Business Retention and Expansion
Program
• The Woods Edge site located at Interstate 35W and Lake Drive
• Redevelopment of the intersection of County Road 49 (Hodgson) and County
Road J
• The Commercial and Industrial Corridor along Interstate 35E and County Road
14
The document is intended to be a guide to help prioritize the City’s economic
development efforts. Development of a Business Retention and Expansion (BRE)
program was identified by the Commission as the highest priority action item. Research
shows that up to 86 percent of new jobs are created by existing businesses in a
community, rather than new businesses. Additionally, it is usually easier and more cost
effective to keep an existing business rather than recruit a new business. EDAC efforts in
2015 will concentrate on the establishment of a program framework and implementation.
Requested Council Direction
Staff is requesting council review and discussion on the draft plan. Staff recommends
placing the plan on upcoming agenda for council approval.
Attachments
1. Draft Economic Development Plan
ECONOMIC DEVELOPMENT ADVISORY COMMISSION
October 2014
Lino Lakes
ECONOMIC DEVELOPMENT PLAN
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Lino Lakes
ECONOMIC DEVELOPMENT PLAN
Background
In a series of meetings the Economic Development Advisory Commission (EDAC) evaluated the
potential of four different areas for economic growth within the City of Lino Lakes. The areas
represented the various types of development currently facing the community: housing,
commercial, industrial and redevelopment. EDAC’s charge was to prioritize the opportunities
based on a review of each area’s positive aspects and potential challenges.
The four Areas of Opportunity that were assessed included:
Development and implementation of a Business Retention and Expansion Program
The Legacy Site located at Interstate 35 and Lake Drive
Redevelopment of the intersection of County Road 49 (Hodgson) and County Road J
The Commercial and Industrial Corridor along Interstate 35E and County Road 14
EDAC recognizes that the City needs to be flexib le and responsive to the market place. This
document represents a guide and framework for prioritizing the City’s economic development
efforts. When opportunities for development occur, Lino Lakes will respond in a manner that
will facilitate the best outcome for the community.
This work plan focuses actions to facilitate economic growth in the Areas of Opportunity. The
document lays out the priorities identified and approved by the EDAC. It is the intent to amend
and update the document as needed to be reflective of progress.
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Priority One - Business Retention and Expansion
Summary
Retention and expansion of key businesses is an important strategy in promoting continued
economic growth. It is an avenue by which communities promote reinvestment and facilitate
employment growth. By establishing a formal Business Retention and Expansion (BRE)
Program, Lino Lakes can enhance its relationship with key existing businesses. The BRE is an
avenue to gather information about local business activity, anticipate changes in a company’s
status, and work to retain the businesses that provide the greatest positive economic impact.
EDAC identified business retention as the highest priority for the City’s economic development
efforts. The Commission noted that of all activities, there is the greatest level of local control
and decision making associated with the development and implementation of a BRE Program.
A linkage between the growth of businesses in the Apollo Business Park and vacant land along
the Interstate 35E Corridor is an important one for the City.
KEY Actions
Determine framework for Business Retention and Expansion Program
Evaluate different outreach methodologies: general vs. targeted
Identify desired program outcomes
Discuss role of City Council, EDAC and staff
Structure program including necessary outreach tools such as survey;
newsletters; email blasts, etc.
Generate accurate business listing utilizing multiple sources both internal and external
Examine list and categorize businesses to determine possible industry clusters, emerging
markets and key business targets
Identify economic development tools available for local business expansion
Coordinate with other economic development organizations that have an interest in retention
and source potential resources for both program marketing and financial assistance for the
businesses
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Priority Two - The Legacy Site
Summary
The site is located at Interstate 35W and Lake Drive. Recently, the City was granted land
control though special legislation, allowing for greater authority in determining the type and
timing of development. EDAC recognizes that the private market will prescribe the ultimate
development scenario; however there are key elements which are within the City’s sphere of
influence. Lino Lakes ability to be flexible both on land sale pricing and type of development,
plus the potential to assist with financing gaps will ultimately assist in the facilitation of a
development plan that meets the City’ goals.
Blocks define the development tracts. They are identified utilizing the names: Neighborhood
Block, Town Square Block, and Urban Block. Each Block can be considered its own, stand alone,
development site or all the blocks can be developed by a single master developer.
KEY Actions
Complete an analysis to determine land pricing scenarios which will ensure the optimal
outcome for the city’s costs recovery of the site assessments.
Refine City financial strategy for the overall site and if needed specific Blocks
Evaluate the benefit of a single Master Developer versus the City acting as Master.
Ascertain the level of interest through a Req uest for Information for overall site:
Assess interest of commercial and housing developers
Evaluate financial implications of various scenarios and impact on overall
site development
Re-visit development companies that had an interest in the past
Consider revising PUD to be reflective of City vision
Research and meet with potential developers to determine level of interest and
type of development the market can support.
Evaluate financial implications of alternative development scenarios
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Priority Three –County Road 49 and County Road J
Summary
Redevelopment of this intersection has a number of community benefits. Suited toward
smaller scale neighborhood development, the site is located at the southern gateway to Lino
Lakes. Positive aspects to the redevelopment include the elimination of blight, addition of new
goods and services, and increased tax base. Challenges include the collaboration of multiple
cities and counties, infrastructure construction and lower densities that surround the area.
The site has been highlighted in past Lino Lakes’ economic development plans. Recently,
neighboring Shoreview has studied the area for redevelopment potential as part of a
transitional corridor study. Collaboration with Shoreview is critical to effectively r edevelop the
area.
Additionally, there are outside financial resources that can be researched and grant funds
sought to help facilitate investigation, acquisition and site improvements.
KEY Actions
Evaluate a proactive or reactive approach to development
Proactive- approach past potential developer; engage discussions with potential
new smaller scale developers
Reactive – respond when interest in made by private sector
Research pre-planning grants from the Met Council and Mn/Deed
Prepare necessary documentation for infrastructure improvements and analyze level of
private investment needed to consider City participation through tax increment
Coordinate with the City of Shoreview when developer interest and a redevelopment
project emerge
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Priority Four –Interstate 35E and County Road 14 Corridor
Summary
Development in this area will be predominantly market driven. The construction of the Park
and Ride in conjunction with the proposed housing development opens up commercial
opportunities. Industrial development in the area will occur more slowly due to inactive land
owner participation. Key to future development will be dependent on the build to suit market;
speculative development is unlikely to occur due to adjacent lower densities.
EDAC considered the commercial development more attainable in the nearer future than the
industrial market. Lino Lakes can create a marketing strategy to attract attention to the sites
development potential.
KEY Actions
Evaluate the potential for commercial development on the site adjacent to proposed
housing development
Meet with property owner(s) to establish an agreement for land value
Solicit feedback from potential developers and engage in project planning
Industrial activities
Maintain inventories, contacts and pricing on industrial properties for inquiry
responses
Generate marketing piece
Continue responding to DEED and Greater MSP requests for information
Developer email blast that provides updates on Lino Lakes projects
WS – Item #3
WORK SESSION STAFF REPORT
Work Session Item No. 3
Date: October 6, 2014
To: City Council
From: Jeff Karlson
Re: Fund Reserves
Background
During the September 22nd work session, the Council directed Finance Director Al Rolek
to prepare a listing of the year-end cash and investment balances for each fund for the
years 2008 and 2013. Al’s report is included in the packet.
The cash and investment balance for each fund is color-coded to show which funds are
related. For example, the debt service funds for Lease Revenue 1998A and GO CIP
2006E are highlighted in yellow because the 2006E bond refinanced the 1998A bond.
The balance of the 1998A bond was transferred to the 2006E fund. Likewise, the debt
service funds highlighted in light green were all closed to the Closed Bond Fund.
Mr. Rolek will not be at the meeting Monday night, but I’ll try to answer any questions
the Council may have regarding the fund reserves.
Attachments
Al Rolek’s September 22, 2014 Memo Re. Cash Reserves
Cash Reserve Analysis by Fund
Interest Income by Fund
Fund 2008 2009 2010 2011 2012 2013 8/31/2014
General 5,196,881 5,246,546 5,459,582 5,337,583 5,054,673 5,300,509 3,906,483
Special Revenue Funds
Recreation Program 115,168 96,489 124,494 113,836 123,343 119,605 158,226
EDA - - - - - - (196)
Cable TV - - - - - 10,618 39,041
Blue Heron Days - - - - - - 20,634
Fed Narcotics Forfeit - - - - - - 41,793
State Narcotics Forfeit 14,530 21,367 12,203 12,944 16,150 22,132 15,925
DUI Forfeit 16,598 18,717 36,711 30,061 17,058 7,806 2,872
Debt Service Funds
Closed Bond Fund 1,106,097 1,129,282 1,134,263 1,420,571 1,429,946 1,398,702 1,680,056
Certificates of Indebt 115,830 121,149 121,716 129,811 143,490 151,341 241,493
Lease Rev 1998A 412,558 390,676 486,798 - - - -
Public Proj Refunding 1999C 354,124 358,054 270,684 - - - -
GO Imp 2002A 262,748 250,676 243,523 228,292 212,835 187,564 -
GO Imp 2002B 938,512 798,878 647,720 497,562 342,581 69,932 -
GO Imp 2003A 54,728 96,244 122,469 147,244 595,880 129,030 -
GO Imp 2003B 86,538 73,460 63,541 67,350 56,717 53,358 -
GO Imp & Utility Rev 2004A 311,056 286,879 215,188 - - - -
GO Imp 2005A 1,069 667 - 2 158,742 157,905 (375,880)
GO Imp 2005B 511,585 599,445 262,158 324,213 405,931 462,017 113,578
GO Tax Abatement 2006C 54,912 55,152 83,127 138,965 187,264 206,347 110,681
GO Utility Rev 2006D 15,688 34,836 50,974 67,711 83,405 95,579 63,097
GO CIP 2006E 60,531 140,040 244,784 759,335 814,525 828,858 637,131
GO TIF 2007A 126,659 155,038 155,088 154,320 153,628 149,897 (313,979)
GO Imp Note 2009A - - 425 491 491 996,291 (101,063)
GO Imp & Utility Rev 2010A - - 4,945 109,770 23,817 8,249 214,520
GO 2012A - - - - - 63,763 201,973
GO Imp 2013A - - - - - 2,416 (16,746)
Capital Projects Funds
Bldgs & Facilities Revolving 1,570,390 1,765,288 1,416,151 946,336 592,753 601,128 684,184
Cap Equip Revolving 137,196 206,053 286,637 184,259 94,997 105,370 269,003
Office Equip Revolving 204,690 222,550 250,142 272,023 264,621 269,578 279,790
Dedicated Parks 144,176 104,784 66,963 404 408 16,602 19,607
Area & Unit 1,813,952 2,138,830 2,778,231 3,217,984 3,466,242 3,661,631 3,857,486
TIF 1-5 64,359 51,401 55,668 78,255 99,456 135,688 154,218
TIF 1-10 214,702 85,118 135,900 188,669 189,274 187,194 258,305
TIF 1-11 - - - - - - (728,478)
MSA 633,651 910,592 1,251,484 1,439,143 5,037,136 4,595,797 4,387,646
Seal Coating/Overlay 323,184 387,959 445,003 465,169 477,527 529,065 1,007,735
Storm Water Management 188,528 241,913 276,610 374,653 407,977 518,189 489,430
Street Reconstruction 620,783 661,930 538,252 587,203 608,173 620,865 638,466
Birch St/Hodgson Rd Imp 14,813 15,207 15,383 15,583 15,738 15,677 -
Legacy at Woods Edge 765,196 531,297 522,104 548,979 554,416 527,265 529,772
I35E Interchange - 4,271,141 4,271,142 - 274,525 226,347 143,292
Main/Lake - Birch/Ware Traffic Signal - - - - 530,087 166,105 106,219
Otter Lake Rd Ext - - - - - 293,961 301,654
21st Ave Ext - - - - - - (33,371)
Enterprise Funds
Water 2,964,709 3,432,696 3,555,128 3,649,473 4,110,341 4,791,243 4,997,103
Sewer 5,609,938 5,750,402 6,237,600 6,575,417 7,028,014 7,286,546 7,479,137
Agency/Fiduciary Funds
Contractors Deposits 813,278 744,290 705,343 657,975 476,973 639,540 523,284
Interim SA - - - - - - 37,946
Foxborough Trust 122,224 115,824 112,676 119,881 110,536 121,475 127,761
Totals 25,961,581 31,510,870 32,660,810 28,861,467 34,159,670 35,731,185 32,169,828
** All Color Coding = Related Funds
CITY OF LINO LAKES
YEAR-END CASH & INVESTMENT BALANCE BY FUND
2008 - 2013
WS – Item 2
WORK SESSION STAFF REPORT
Special Work Session Item 2
Date: September 22, 2014
To: City Council
From: Al Rolek
Re: Fund and Cash Reserve Balance Information
Background
At Council’s direction, staff has prepared information regardi ng all City funds, including their
origin, purpose, restrictions and cash reserve balances. In addition staff has prepared a schedule
of interest income by fund for the period of 2008 through 2013, the average rate of return and
benchmarks to compare the return with market rates.
Fund and Cash Reserve Balances By Fund
The attached spreadsheet lists the current city funds, their purpose, term, restrictions, if any, and
current cash balance.
City funds are established for various reasons. The General Fund is the central operating fund of
the City, with most city functions falling under this area. The primary funding source of this fund
is property taxes; intergovernmental revenues, licenses and permits fees, charges for services
fees, interest income and various miscellaneous sources providing the remaining financing
sources. The General Fund is ongoing, with balances carried over year to year. The disposition
of resources within the fund are solely at the City Council’s discretion. The City Council has
established a fund balance policy for the General Fund to mai ntain a balance of 40% to 50% of
annual budgeted expenditures. This balance has remained over 50% for many years.
Special Revenue Funds are established for specific purposes and activities, with revenues
generated by sources or fees directly relating to these purposes. The revenues and cash balances
have been committed by Council resolution to these purposes. The Council may change this by
resolution if it chooses. The City’s narcotics and DUI forfeiture funds are included in this fund
category, and their use is regulated by federal and state government for law enforcement.
Debt Service funds are established when the City finances projects or equipment purchases
through the issuance of municipal bonds. These bonds are issued through the authority granted
by state statute. The debt service funds account for resources (special assessment collections,
debt levies, operating transfers from other funding sources, etc.) accumulated to pay principal and
interest on the outstanding bonds. Per the bond documents signed at the time of issuance, these
resources are restricted and dedicated to the repayment of the specific debt issue until the issue is
fully retired. Once the issue is retired, per past practice and policy, any residual balance is
transferred to the Closed Bond Fund. This fund is used to finance projects on the ‘front -end’
before formal financing has been established.
Capital Projects funds are created at the time that projects are undertaken by the City. Some
funds are perpetual, or ‘revolving’ funds – such as the Building and Facilities fund, the Capital
Equipment Replacement fund, etc. Other capital project funds exist while the project is being
undertaken, after which the fund is dissolved. Most capital projects are financed through the
issuance of bonded debt, grants or cooperative agreements. In nearly all of these cases, the use of
the proceeds is regulated or restricted to the projects by the terms of the agreement or by the bond
documents. Once the project is completed, the fund is closed and any residual balances are
transferred to a related fund, i.e. balance from a bond-financed project are dedicated to the debt
service fund for that bond.
Enterprise funds are created at the time the City initiates a business-like venture, such as a utility,
a community center, etc., where a product or service is sold. Under these circumstances there is
an investment in infrastructure in order to provide the product or service. Fees are established to
pay for the operation of the enterprise and for ongoing maintenance and replacement of
infrastructure used in the enterprise. Lino Lakes operates water and sewer utilities and charges its
customers quarterly fees for the use/consumption of these resources. The City Council has
established that the cost of depreciation be included in its fee structure to provide for the
maintenance and eventual replacement of system infrastructure. The cash balance of each fund
reflects the accumulation of resources for this purpose.
Agency and Fiduciary funds are used when the City acts as an agent and custodian of funds on
behalf of an outside agency/entity. The City operates a fund for contractor’s deposits, used to
finance cost of development review and land use related activities. The use of these funds is
restricted by the terms of the development agreements with the developers. Once completed, any
residual balances are returned to the developer. The Foxborough Environmental Trust fund is
used for environmentally-related projects within this subdivision. This fund includes a $100,000
nonexpendable trust, which is intended to generate interest income to use for environmental
projects.
Interest Income By Fund
Attached is a spreadsheet which shows city investment income by fund for each year from 2008
through 2013. At the bottom of the spreadsheet annual average investment yields are listed,
along with industry benchmarks for comparison purposes.
State Statutes provide for the investment of public funds not needed for immediate use.
Minnesota Statute 118A establishes the authority and specific parameters for the investment of
public funds. The range of investments for public funds is quite restricted in order to preserve the
safety and liquidity of invested funds. Investments in commercial banking products, such as bank
deposits, certificates of deposit, etc., over the FDIC insured level of $250,000 must be
collateralized. Additionally, Lino Lakes, as most cities, has established an investment policy to
guide the investment of city cash reserves.
Staff uses a ‘pooled’ investment approach, whereby cash from all funds is pooled together for
investment purposes. This allows for sizing investments such that they may be more marketable
to achieve better yields. The interest income generated through the investments is allocated to the
various funds using the average cash balance of the funds. Funds having a negative cash balance
and contractor deposits are not allocated interest income. For budgeted funds, interest income is
included in the budgeted revenue sources. Interest income in debt service funds and tax
increment funds are dedicated and defined as bond/TIF proceeds. Interest income in capital
project funds is dedicated to the financing of that particular project.
Investment yields are compared to certain market benchmarks as a means to determine whether
the strategies being used are resulting in desired outcomes. A comparison of the City’s average
annual yields to market benchmarks for allowable public funds investment indicates that
investment strategies are resulting in positive outcomes, while providing for the safety of
principal invested.
Discussion.
Staff is prepared to discuss the attached information with the Council to provide a better
understanding of the purpose and financing requirements for each of the City’s funds and the
investment approach and options employed by staff.
Requested Council Direction
None.
Attachments
Cash Reserve Analysis By Fund
Interest Income By Fund
M.S. 118A
Lino Lakes Investment Policy
Fund Established Term Purpose of Fund Restrictions on Use of Funds Cash Reserves
General 1955 Ongoing General Operations Council Directed - City Fund Balance Policy 3,906,483
Special Revenue Funds
Recreation Program 1993 Ongoing Recreation Programming Council Committed to Recreation Programming 158,226
EDA 1989 Ongoing EDA Operations Council/EDA Directed for EDA Operations (196)
Cable TV 2012 Ongoing Cable TV Operation/Equip Council Committed to Cable TV Broadcast needs 39,041
Blue Heron Days 2014 Ongoing Blue Heron Days Event Operations Council Committed to Blue Heron Days Activities 20,634
Fed Narcotics Forfeit 2014 Ongoing Public Safety Forfeitures Council Committed to Law Enforcement - Fed Regulated 41,793
State Narcotics Forfeit 2014 Ongoing Public Safety Forfeitures Council Committed to Law Enforcement - State Regulated 159
DUI Forfeit 2014 Ongoing Public Safety Forfeitures Council Committed to Law Enforcement - State Regulated 2,872
Debt Service Funds
Closed Bond Fund 1988 Ongoing Capital Projects Startup Council Directed - Dedicated to future Cap Projects 1,680,056
Certificates of Indebt 1980's Ongoing - term of Certs Debt Service Restricted to Repayment of Bond P & I Per M.S. 412/Bond Documents 241,493
GO Imp 2005A 2005 Retires Feb 2021 Debt Service Restricted to Repayment of Bond P & I Per M.S. 429/Bond Documents (375,880)
GO Imp 2005B 2005 Retires Feb 2015 Debt Service Restricted to Repayment of Bond P & I Per M.S. 429/Bond Documents 113,578
GO Tax Abatement 2006C 2006 Retires Feb 2023 Debt Service Restricted to Repayment of Bond P & I Per M.S. 469/Bond Documents 110,681
GO Utility Rev 2006D 2006 Retires Feb 2017 Debt Service Restricted to Repayment of Bond P & I Per M.S. 444/Bond Documents 63,097
GO CIP 2006E 2006 Retires Feb 2018 Debt Service Restricted to Repayment of Bond P & I Per M.S. 475/Bond Documents 637,131
GO TIF 2007A 2007 Retires Feb 2024 Debt Service Restricted to Repayment of Bond P & I Per M.S. 469/Bond Documents (313,979)
GO Imp Note 2009A 2009 Retires Aug 2021 Debt Service Restricted to Repayment of Bond P & I Per M.S. 429/JPA/Bond Docs (101,063)
GO Imp & Utility Rev 2010A 2010 Retires Feb 2020 Debt Service Restricted to Repayment of Bond P & I Per M.S. 429/444/Bond Docs 214,520
GO 2012A 2012 Retires Feb 2024 Debt Service Restricted to Repayment of Bond P & I Per M.S. 475/Bond Documents 201,973
GO Imp 2013A 2013 Retires Feb, 2024 Debt Service Restricted to Repayment of Bond P & I Per M.S. 429/Bond Documents (16,746)
Capital Projects Funds
Cap Imp/Bldgs & Facilities Revolving 1985 Ongoing Municipal Bldg Maint/Replacement Council Directed - Assigned for Mun Bldgs 684,184
Cap Equip Revolving 2005 Ongoing Cap Equip Replacement Council Directed - Assigned for Cap Equip Replacement 269,003
Office Equip Revolving 2005 Ongoing Office Equip Replacement Council Directed - Assigned for Office Equip Replacement 279,790
Dedicated Parks 1970's Ongoing Dedicated Replacement Dedicated to Park Development 19,607
Area & Unit 1980's Ongoing Municipal Area Maint/Replacement'Dedicated to Water/Sewer Infrastructure 3,857,486
TIF 1-5 1993 Required 12/31/22 TIF Financing - Willow Ponds Housing Restricted to use per TIF Plan & M.S. 469 154,218
TIF 1-10 2003 Required 12/31/31
g ;
Spec Legislation for Legacy Project/35W Restricted to Repayment of 2005A/2007A P & I Per Sp. Legislation 258,305
TIF 1-11 2004 Required 12/31/31
TIF Financing of Legacy Project/35W
Interchange Restricted to use per TIF Plan & M.S. 469 (728,478)
MSA 1989 Ongoing Reconstruct MSA Road System Restricted to MSA eligible projects (I-35E & I-35W Projects)4,387,646
Seal Coating/Overlay 1991 Ongoing Street Mainteance Council Directed - Assigned for Street Maintenance 1,007,735
Storm Water Management 1980's Ongoing Develop Storm Drainage System Assigned for Storm Water Management 489,430
Street Reconstruction 1995-1996 Ongoing Street Upgrade/Replacement Assigned for Street Replacement 638,466
Legacy at Woods Edge 2005 Completion of Project Legacy/I-35W Interchante Assigned for Legacy Improvements/I-35W Interchange 529,772
CITY OF LINO LAKES
CASH RESERVE ANALYSIS BY FUND
As of 8/31/2014
I35E Interchange 2009 Completion of Project I-35E Interchange Assigned for I-35E Interchange Project 143,292
Main/Lake - Birch/Ware Traffic Signal 2012 Completion of Project Install Traffic Signals at Intersections Assigned for Installation ofTraffic Signals 106,219
Otter Lake Rd Ext 2013 Completion of Project Extension of Otter Lake Rd Assigned for Otter Lake Road Extension 301,654
21st Ave Ext 2014 Completion of Project Extension of 21st Ave Assigned for 21st Avenue Extension (33,371)
Enterprise Funds
Water 1971 Ongoing Water Operations & Infrastructure
Council Directed - Assigned for Operations/Infrastructure Maint &
Replacement 4,997,103
Sewer 1971 Ongoing Sewer Operations & Infrastructure
Council Directed - Assigned for Operations/Infrastructure Maint &
Replacement 7,479,137
Agency/Fiduciary Funds
Contractors Deposits 1980's Ongoing Construction/Development Escrows Payment of Development-Related Services 523,284
Interim SA --Ongoing Sp Assessment Prepays Reserved for Debt Service 37,946
Foxborough Trust 2005 Ongoing Environmental Trust
Restricted for Foxborough Environmental Projects; $100,000 is
Unspendable Trust per developer agreement 127,761
Total 32,154,062
Fund 2008 2009 2010 2011 2012 2013
General 134,521 105,443 45,811 54,390 38,603 38,093
Special Revenue Funds
Recreation Program 4,693 3,536 1,555 1,847 1,445 1,480
EDA - - - - - -
Cable TV - - - - - 93
Blue Heron Days - - - - - -
Fed Narcotics Forfeit - - - - - -
State Narcotics Forfeit - - - - - -
DUI Forfeit - - - - - -
Debt Service Funds
Closed Bond Fund 38,274 29,250 12,085 14,019 13,326 13,588
Certificates of Indebt 4,838 4,051 1,948 2,760 1,730 1,933
GO Imp 2005A 3,885 - - - - -
GO Imp 2005B 980 3,195 2,695 - - 786
GO Tax Abatement 2006C 391 302 248 544 608 867
GO Utility Rev 2006D 534 - - - 200 314
GO CIP 2006E 343 667 738 - 5,543 5,775
GO TIF 2007A 5,909 - - - - -
GO Imp Note 2009A - - - - - 394
GO Imp & Utility Rev 2010A - - 536 28 282 -
GO 2012A - - - - 658 -
GO Imp 2013A - - - - - 760
Capital Projects Funds
Bldgs & Facilities Revolving 49,574 42,602 20,936 18,497 9,890 6,642
Cap Equip Revolving 8,405 24,839 3,833 4,380 2,210 1,325
Office Equip Revolving 6,672 5,692 2,807 3,493 2,712 2,658
Dedicated Parks 6,362 3,799 1,243 724 4 32
Area & Unit 91,695 86,987 66,444 72,550 55,952 51,435
TIF 1-5 1,542 1,293 619 773 697 1,087
TIF 1-10 3,960 4,269 1,117 1,740 2,293 2,461
TIF 1-11 - - - - - -
MSA 21,204 28,612 15,810 23,854 33,554 49,950
Seal Coating 17,787 11,013 7,000 7,921 7,325 8,205
Storm Water Management 5,212 5,313 2,749 4,305 3,660 9,969
Street Reconstruction 21,008 16,517 7,329 7,265 5,854 6,031
Legacy at Woods Edge 66,357 15,470 5,995 6,875 5,437 5,302
I35E Interchange - - 100 - 2,648 2,437
Main/Lake - Birch/Ware Traffic Signal - - - - - 3,360
Otter Lake Rd Ext - - - - - 1,784
21st Ave Ext - - - - - -
Enterprise Funds
Water 90,992 74,818 37,249 43,983 35,321 43,075
Sewer 183,506 153,929 67,521 82,232 66,752 70,327
Agency/Fiduciary Funds
Contractors Deposits NA NA NA NA NA NA
Interim SA NA NA NA NA NA NA
Foxborough Trust 4,271 3,131 1,322 1,505 1,115 11,754
Totals - Current Funds 772,915 624,728 307,690 353,685 297,819 341,917
Average Yield 3.77%3.19%1.74%1.51%1.08%1.07%
Benchmarks
1 year US Treasuries on 12/31 0.30%0.27%0.23%0.07%0.14%0.11%
3 year Certificates of Deposit 2.95%2.05%1.00%1.00%0.90%0.85%
Interest Distribution
CITY OF LINO LAKES
INTEREST INCOME BY FUND
2008 - 2013
Item #4
Monthly Progress Report
October 6, 2014
Item Last Action Taken Staff Status
Digital Scanning Project 3/10/14 – Council approved employment
extension for two PT scanner operators to
October 15
Jeff Staff will be asking for
another 10-week extension for
both scanner operators
Labor Negotiations Police Officers – Settled for 2014-2015
49er’s – Opener for 2015 held 9/29/14
Jeff
Will be scheduling openers
with AFSCME & Sergeants
White Bear Lake Restoration
Assn. v. Dept. of Natural
Resources (DNR)
10/1/14 – NE Metro Water Supply Work
Group met to discuss the Met Council
study
Jeff
Report starts with the premise
that there is currently a
problem with groundwater use
2015 Budget
9/8/14 – Preliminary budget was adopted Al Council is reviewing cash
reserve balances