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07/23/2019
LAUDERDALE CITY COUNCIL MEETING AGENDA 7:30 P.M. TUESDAY, JULY 23, 2019 LAUDERDALE CITY HALL, 1891 WALNUT STREET The City Council is meeting as a legislative body to conduct the business of the City according to Robert's Rules of Order and the Standing Rules of Order and Business of the City Council. Unless so ordered by the Mayor, citizen participation is limited to the times indicated and always within the prescribed rules of conduct for public input at meetings. 1. CALL TO ORDER THE LAUDERDALE CITY COUNCIL MEETING 2. ROLL CALL 3. APPROVALS a. Agenda b. Minutes of the July 9, 2019 City Council Meeting c. Claims Totaling $38,847.56 4. CONSENT a. June Financial Report b. Second Quarter Investment Report 5. SPECIAL ORDER OF BUSINESS/RECOGNITIONS/PROCLAMATIONS 6. INFORMATIONAL PRESENTATIONS / REPORTS a. Night to Unite b. 2019 Infrastructure Improvement Project c. City Council Updates 7. PUBLIC HEARINGS Public hearings are conducted so that the public affected by a proposal may have input into the decision. During hearings all affected residents will be given an opportunity to speak pursuant to the Robert's Rules of Order and the standing rules of order and business of the City Council. a. Annual Municipal Separate Storm Sewer System (MS4) Public Hearing 8. DISCUSSION / ACTION ITEM a. Resolution 072319A — A Resolution Providing Preliminary Approval to the Issuance of Revenue Obligations under Minnesota Statutes, Chapters 462C and 474A, as Amended, and Taking Other Actions in Connection Therewith 9. ITEMS REMOVED FROM THE CONSENT AGENDA 10. ADDITIONAL ITEMS 11. SET AGENDA FOR NEXT MEETING a. Luther Seminary Redevelopment — Presentation by CommonBond Communities b. 2019 Infrastructure Improvement Project Pay Request No. 3 12. WORK SESSION a. Opportunity for the Public to Address the City Council Any member of the public may speak at this time on any item not on the agenda. In consideration for the public attending the meeting, this portion of the meeting will be limited to fifteen (15) minutes. Individuals are requested to limit their comments to four (4) minutes or less. If the majority of the Council determines that additional time on a specific issue is warranted, then discussion on that issue shall be continued at the end of the agenda. Before addressing the City Council, members of the public are asked to step up to the microphone, give their name, address, and state the subject to be discussed. All remarks shall be addressed to the Council as a whole and not to any member thereof. No person other than members of the Council and the person having the floor shall be permitted to enter any discussion without permission of the presiding officer. Your participation, as prescribed by the Robert's Rules of Order and the standing rules of order and business of the City Council, is welcomed and your cooperation is greatly appreciated. b. GARE Follow Up Training c. Community Development Update 13. ADJOURNMENT LAUDERDALE CITY COUNCIL MEETING MINUTES Lauderdale City Hall 1891 Walnut Street Lauderdale, MN 55113 Page 1 of 3 July 9, 2019 Call to Order Mayor Gaasch called the Regular City Council meeting to order at 7:35 p.m. Roll Call Councilors present: Roxanne Grove, Jeff Dains, Andi Moffatt, and Mayor Mary Gaasch. Councilor absent: Kelly Dolphin. Staff present: Heather Butkowski, City Administrator; Jim Bownik, Assistant to the City Administrator; and Miles Cline, Deputy City Clerk. Approvals Mayor Gaasch asked if there were any additions to the meeting agenda. There being none, Councilor Grove moved and seconded by Councilor Dains to approve the agenda. Motion carried unanimously. Mayor Gaasch asked if there were any corrections to the minutes of the June 25, 2019 city council meeting. There being none, Councilor Dains moved and seconded by Councilor Grove to approve the minutes of the June 25, 2019 city council meeting. Motion carried unanimously. Mayor Gaasch asked if there were any questions on the claims. There being none, Councilor Moffatt moved and seconded by Councilor Grove to approve the claims totaling $99,531.85. Motion carried unanimously. Consent Councilor Dains moved and seconded by Councilor Moffatt to approve the Consent Agenda thereby approving the park application and the 2019 Infrastructure Improvement Project Pay Request No. 2. Informational Presentations/Reports A. 2019 Infrastructure Improvement Project Administrator Butkowski provided an overview of the progress on the project. B. Day in the Park Assistant to the City Administrator Bownik provided an update on Day in the Park planning. He mentioned that the University of Minnesota Raptor Center will bring three predatory birds to the event as a new feature. C. City Council Updates Councilor Dains shared that he and Mayor Gaasch attended the League of Minnesota Cities Annual Conference in Duluth. He noted that Governor Walz spoke at in regards to transit in LAUDERDALE CITY COUNCIL MEETING MINUTES Lauderdale City Hall 1891 Walnut Street Lauderdale, MN 55113 Page 2 of 3 July 9, 2019 greater Minnesota and the relationship between cities and the Metropolitan Council. Dains also attended the Mississippi Watershed Management Organization and noted staffing changes there. Councilor Moffatt mentioned the email council members received regarding "road diets" or four - to three lane conversations being considered in Hennepin and Ramsey Counties. She attended Hennepin County's presentation on options for East Hennepin. She expressed interest in meeting with Ramsey County to discuss options for Larpenteur Avenue. Mayor Gaasch shared that Governor Walz' presentation at the League of Minnesota Cities Annual Conference focused on cities with populations under five thousand. She also enjoyed the keynote speaker's thoughts on community engagement. Finally, Gaasch said 30 new mayors attended the session devoted to bringing mayors throughout the state together. Discussion/Action Items A. Resolution 070919A – Denying the Alley Vacation Petition to Vacate Unimproved Alley between Eustis and Malvern Streets Beginning at Spring Street and Ending at Summer Street Residents from Malvern Street and Eustis Street that abut the planned alley improvements submitted an alley vacation request to the City Council in May. On June 25, the City Council took public testimony on the matter. Based on the discussion following the public hearing, the city attorney drafted a resolution to formalize the Council's decision on the matter. Councilor Moffatt made a motion to adopt Resolution No. 070919A A Resolution Denying Petition to Vacate Unimproved Alley between Eustis and Malvern Streets Beginning at Spring Street and Ending at Summer Street. This was seconded by Councilor Grove and carried unanimously. B. Resolution 070919B – A Resolution Approving the Development Stage Planned Unit Development at 1795 Eustis Street to Construct and Operate a Senior Multi -Family Housing Project At the May 28 meeting, the City Council discussed the comments received from the public regarding Real Estate Equities' (REE) planned unit development (PUD) application. The Council supported the conditions drafted by the City's planning consultant. REE will respond to the conditions in the preparation of their application for final approval of the PUD. Councilor Moffatt made a motion to adopt Resolution No. 070919B—A Resolution Approving the Development Stage Planned Unit Development (PUD) at 1795 Eustis Street to Construct and Operate a Senior Multi -Family Housing Project. This was seconded by Councilor Dains and carried unanimously. LAUDERDALE CITY COUNCIL MEETING MINUTES Lauderdale City Hall 1891 Walnut Street Lauderdale, MN 55113 Page 3 of 3 July 9, 2019 C. 2020-2024 Police Contract with City of St. Anthony Butkowski noted that in March the City Council began discussing the police contract renewal as the current five-year agreement expires at the end of 2019. St. Anthony staff attended the last meeting and addressed the proposed 2020 cost increase and the cost -drivers projected in future years. Councilor Grove made a motion to enter into an agreement with the City of St. Anthony for police services from 2020-2024 as presented. This was seconded by Councilor Dains and carried unanimously. Set Agenda for Next Meeting Administrator Butkowski stated that the July 23 council meeting may include the Annual Storm Water Public Hearing, GARE follow-up training, an updated conduit debt resolution for Real Estate Equities, and an update on Night to Unite. Work Session A. Opportunity for the Public to Address the City Council Mayor Gaasch opened the floor to anyone in attendance that wanted to address the Council. Craig Zbacnik, 1837 Eustis Street, said he was dumbfounded by the Council's reasoning to complete the alley segments between Eustis Street and Malvern Street. He said he also felt that the lots on Eustis Street were sold under their market values. There being no other parties interested in speaking, Mayor Gaasch closed the floor. B. Community Development Update Butkowski mentioned that she and Jennifer Haskamp have a meeting with CommonBond Communities on July 11. Adjournment Councilor Dains moved and seconded by Councilor Grove to adjourn the meeting at 8:48 p.m. Motion carried unanimously. Respectfully submitted, /44 Heather Butkowski City Administrator CITY OF LAUDERDALE LAUDERDALE CITY HALL 1891 WALNUT STREET LAUDERDALE, MN 55113 651-792-7650 651-631-2066 FAX Request for Council Action To: Mayor and City Council From: City Administrator Meeting Date: July 23, 2019 Subject: List of Claims The claims totaling $38,847.56 are provided for City Council review and approval that includes check numbers 26508 to 26527. Accounts Payable Checks by Date - Detail by Check Date User: Printed: MILES.CLINE 7/18/2019 2:19 PM Check No Vendor No Invoice No Vendor Name Description Check Date Reference Check Amount ACH 43 ACH 44 ACH 45 ACH 46 26508 65 16256860 26509 239 906985 26510 184 072019 072019 26511 192 84777417 26512 25 Public Employees Retirement Association PR Batch 51400.07.2019 PERA Coordinated PR Batch 51400.07.2019 PERA Coordinated 07/12/2019 PR Batch 51400.07.2019 PER PR Batch 51400.07.2019 PER Total for this ACH Check for Vendor 43: Minnesota Department of Revenue PR Batch 51400.07.2019 State Income Tax 07/12/2019 PR Batch 51400.07.2019 Stati Total for this ACH Check for Vendor 44: ICMA Retirement Corporation PR Batch 51400.07.2019 Deferred Comp PR Batch 51400.07.2019 Deferred Comp 07/12/2019 PR Batch 51400.07.2019 Def( PR Batch 51400.07.2019 Defi Total for this ACH Check for Vendor 45: Internal Revenue Service PR Batch 51400.07.2019 Medicare Employee Pc PR Batch 51400.07.2019 Federal Income Tax PR Batch 51400.07.2019 FICA Employer Portio. PR Batch 51400.07.2019 Medicare Employer Po PR Batch 51400.07.2019 FICA Employee Portio 07/12/2019 PR Batch 51400.07.2019 Mec PR Batch 51400.07.2019 Fed( PR Batch 51400.07.2019 FIC. PR Batch 51400.07.2019 Mee PR Batch 51400.07.2019 FIC. Total for this ACH Check for Vendor 46: Total for 7/12/2019: Allstream Inc. 07/23/2019 Fax Line American Engineering Testing Inc 2019 Infrastructure Improvements Pay 2 Cintas June Uniforms June Uniforms Comcast Holdings Corporation July Internet County of Ramsey Total for Check Number 26508: 07/23/2019 Total for Check Number 26509: 07/23/2019 Total for Check Number 26510: 07/23/2019 Total for Check Number 26511: 07/23/2019 1,143.09 990.69 2,133.78 752.83 752.83 1,008.18 1,638.63 2,646.81 257.59 1,573.51 1,101.43 257.59 1,101.43 4,291.55 9,824.97 52.29 52.29 1,210.75 1,210.75 46.52 46.52 93.04 487.61 487.61 AP Checks by Date - Detail by Check Date (7/18/2019 2:19 PM) Page 1 Check No Vendor No Invoice No Vendor Name Description Check Date Reference Check Amount EMCOM-007793 EMCOM-007807 EMCOM-007824 26513 270 072019 26514 19 80746 26515 9 072019 26516 134 0090 June Fleet Support June 911 Dispatch Services June CAD Services Total for Check Number 26512: Jeff Dains 07/23/2019 JD - MN Mayor's Conference Hotel & Mileage Ehlers and Associates Inc 1795 Eustis Redevelopment Genuine Parts Company Inc Tire Repairs Katrina Joseph June Legal Services Total for Check Number 26513: 07/23/2019 Total for Check Number 26514: 07/23/2019 Total for Check Number 26515: 07/23/2019 Total for Check Number 26516: 26517 185 Lauderdale Certified Auto Repair Inc 07/23/2019 072019 June Fuel 072019 June Fuel 072019 June Fuel 26518 78 WC19-20 WC19-20 WC19-20 WC19-20 WC19-20 WC 19-20 WC19-20 WC19-20 WC19-20 WC19-20 WC19-20 League of Minnesota 2019-2020 Work Comp 2019-2020 Work Comp 2019-2020 Work Comp 2019-2020 Work Comp 2019-2020 Work Comp 2019-2020 Work Comp 2019-2020 Work Comp 2019-2020 Work Comp 2019-2020 Work Comp 2019-2020 Work Comp 2019-2020 Work Comp Total for Check Number 26517: Cities Insurance Trust 07/23/2019 Insurance Insurance Insurance Insurance Insurance Insurance Insurance Insurance Insurance Insurance Insurance Total for Check Number 26518: 26519 84 North Star Bank Cardmember Services 07/23/2019 072019 Certified Letter 072019 Paper Towels 072019 Food for GARE Training 072019 DIP Banner 26520 10 0000787690 26521 5 Total for Check Number 26519: On Site Sanitation Inc 07/23/2019 07/13/2019 - 08/19/2019 Park Portable Restroon Premium Waters Inc Total for Check Number 26520: 07/23/2019 6.24 1,083.73 222.13 1,312.10 652.36 652.36 295.00 295.00 11.28 11.28 925.00 925.00 58.07 271.02 58.07 387.16 2,358.64 881.35 35.38 1,468.18 2,925.16 107.32 1,342.40 916.45 116.83 78.14 45.15 10,275.00 6.85 71.27 78.37 411.08 567.57 237.08 237.08 AP Checks by Date - Detail by Check Date (7/18/2019 2:19 PM) Page 2 Check No Vendor No Invoice No Vendor Name Description Check Date Reference Check Amount 619861-06-19 26522 47 26523 155 51697 June Water Bottles Public Employees Insurance Program PR Batch 51400.07.2019 Health Insurance PR Batch 51400.07.2019 Dental Seven Corners Printing 3Q2019 Newsletter 26524 162 Swanson Haskamp Consulting, LLC 786 Eustis Redevelopment 787 Comprehensive Plan Pay 20 788 General Planning Services 26525 4 18344 18344 26526 90 9833156743 9833156743 9833156743 26527 74 644068233 644144412 644379787 644436942 644768060 644768060 644768060 644768060 Total for Check Number 26521: 07/23/2019 PR Batch 51400.07.2019 Hea PR Batch 51400.07.2019 Den Total for Check Number 26522: 07/23/2019 Total for Check Number 26523: 07/23/2019 Total for Check Number 26524: The Neighborhood Recycling Company Inc 07/23/2019 June Multi -Family Recycling Unit June Single Unit Dwelling Verizon Wireless (Month) Cell Phone (Month) Cell Phone (Month) Cell Phone Xcel Energy Larpenteur Bridge Lights 2430 Larpenteur Avenue June Street Lighting Larpenteur Avenue 1917 Walnut Street 1885 Fulham Street 1885 Fulham Street 1917 Walnut Street Total for Check Number 26525: 07/23/2019 Total for Check Number 26526: 07/23/2019 Total for Check Number 26527: Total for 7/23/2019: Report Total (24 checks): 75.09 75.09 2,095.98 116.10 2,212.08 655.00 655.00 3,375.25 726.25 1,637.50 5,739.00 389.85 2,808.05 3,197.90 16.56 16.56 33.12 66.24 28.64 20.59 424.50 10.02 34.19 22.33 13.05 17.72 571.04 29,022.59 38,847.56 AP Checks by Date - Detail by Check Date (7/18/2019 2:19 PM) Page 3 LAUDERDALE COUNCIL ACTION FORM Action Requested Consent X Public Hearing Discussion Action Resolution Work Session Meeting Date July 23, 2019 ITEM NUMBER _June Financial Report STAFF INITIAL APPROVED BY ADMINISTRATOR DESCRIPTION OF ISSUE AND PAST COUNCIL ACTION: Every month, staff provide the Council with an updated copy of the city's finances. Follow- ing are the revenue, expense, and cash balance reports for June 2019. OPTIONS: STAFF RECOMMENDATION: By approving the consent agenda, the Council acknowledges the city's financial report for June 2019. General Ledger Cash Balances User: heather.butkowski Printed: 7/16/2019 8:56:49 AM Period 06 - 06 Fiscal Year 2019 Description Account Beg Bal MTD Debit MTD Credit Current Balance Cash 101-00000-000-10100 -3,236,055.35 642,171.93 1,228,160.54 -3,822,043.96 Change Fund 101-00000-000-10300 100.00 0.00 0.00 100.00 Cash 226-00000-000-10100 14,109.65 24.42 964.53 13,169.54 Cash 227-00000-000-10100 79,833.40 24,038.25 5,312.42 98,559.23 Cash 305-00000-000-10100 38,348.68 47.78 12,626.25 25,770.21 Cash 306-00000-000-10100 0.00 13,013.71 0.00 13,013.71 Cash 401-00000-000-10100 124,155.19 230.64 0.00 124,385.83 Cash 403-00000-000-10100 1,178,564.47 977,932.85 355,016.06 1,801,481.26 Cash 404-00000-000-10100 273,589.22 508.25 0.00 274,097.47 Cash 414-00000-000-10100 259,448.07 90,070.38 0.00 349,518.45 Cash 416-00000-000-10100 94,681.96 175.89 0.00 94,857.85 Cash 602-00000-000-10100 972,340.74 49,004.60 19,931.77 1,001,413.57 Cash 603-00000-000-10100 389,644.64 18,748.78 5,514.87 402,878.55 Current Assets 188,760.67 1,815,967.48 1,627,526.44 377,201.71 Petty Cash 101-00000-000-10200 300.00 0.00 0.00 300.00 Petty Cash 300.00 0.00 0.00 300.00 hrvestments - Fair Value 101-00000-000-10410 3,458,523.23 1,108,611.65 300,000.00 4,267,134.88 Adj Investments 3,458,523.23 1,108,611.65 300,000.00 4,267,134.88 Grand Total 3,647,583.90 2,924,579.13 1,927,526.44 4,644,636.59 GL - Cash Balances (07/16/2019 - 08:56 AM) Page 1 Current Period 'ct VO N O O N O I QT d' d' VO O p I N O V) VO V) V) VO VO p M 1` 01 N 0 O VD O NVDdM V)ON O p O C vt VD 7 N V) O\ VO N c p ,f cc) VO VD CD p Nv 06 O\ h p N O M VD O N N O '711 N N d 01 N - )4O V') d M CT CD ,, O Ocp GC 06 h c6 O 0 O O\ trim p an Oi(r)d' 00 LI) CT .-+ d' V) b N M V) .-+ 'd' M M p OT OT VO d' O O I C\ O V) VO o0 M M O p'0 O M 00 O p N VD Nh4 O N p M 4 c,i t----: 6 p 4 O M Ct oo ,O CO 0 N O N V) 00 I-+ c0 N N C N C' 'IICr, 00 CT '0 r-1 D\ • - <t +00 V7 d\ D\ N^O O MNN .-+ — t-- O\ — \0 N OA N M .-, d' VD N M V). -+OO M p N 00 V) —C V) d, 00 VD Vl Vl p d' N 00 OT O oo0\00OOn V CT O N N mv)O M M N O\ M 00N V) N 'O O\d'00 (V N 00 -,00 O\ M N N M VO C,1 M 0 0 0 0 0 0 p O 0 0 0 0 p O O 0 0 0 0 0 0 O O O O O O p O d'000 6 6 p CF MO—O d • O O VI N O O O N 'OO— O N ,-+ 00 00 00 0 0l 00 ct M p V1 _O ViOriOO 00 t�h V1 CO 00 H e - N c4 0 bb D '8 a) U _ O > 0 D ° O 0 "10 L>i N N L7 0 N T W E o g 0;;> a > Na vis c<A 7 mQoac H0aa ti10 a 0I) ay CU CA 49 c41A ac C.) 0:: ai k o x wo.�Uo X w tr.). 00 ^N W CO 0) c 0 o O, .r° O N O NE_d Z y �-1 40 '0 'ci 0 (1) �i...:a ° aC • i0 (J ,,W 0) �Paw oti General Fund GL - Revenue vs Expense (07/16/2019 - 08:57 AM) \ Account Number \\ « \//\| 4 $ § r c \ \ CT \GG\ Z COIn// m 3»>p / « » 'et \\\3| { i & //&© E 4 a - % # « m 00 2 CI &@/) Q % C N 3 § , � & @ 5@@@ 3 3333 f \2\\ $ ® ^® \ 0 0 7 / G \ 7 \ ) \ ) \ /,0\.- Fa / 0(a\) § 7 ///\ \ Urp- 0 \ GL - Revenue vs Expense (07/16/2019 - 08:57 AM) O N O 40 b O M N o O •-, 4 4 O.. 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N Al ad N ti U Account Number CD 0 CD O OI 0 O O O M M M CN b0 00�C\ 0 0 1 r r- -1 GO TIF Revenue Bonds 2018A GL - Revenue vs Expense (07/16/2019 - 08:57 AM) M 3 00 00 x0 • rn cp • O u -• i• N C '� a a w YTD Balance Current Period 0 count Number O p O O O O O O N 00 trl \ 00 O\ M p0 N 00 00 fl Cr; 00CN N 0 a.. PP a U N 5 N� a4 00 }y O O g N H °( 2019A Improvement Bonds GL - Revenue vs Expense (07/16/2019 - 08:57 AM) \ \ Account Number 5 \ /| m @ / 2 @ 2 6o6 w a d 3 e§ % CD CD 0 QC@ GVD / 3 g 33 3 N \ \ \ 4 / F 9 \\@ Q \// ? G Q d/ d3 / / 3 7 / 5 5 \| @ 3 33c = ad o Q § R @@Q \ o o @| o o 0 333 3 3 o 0 \ \ q E F ) ( ƒ§ A® › = r4 ,1) \ 2 //i) G to ��• \ \\cy f ®(e (��oa I)}./5m k /wEgyg('/&gE& \\ t g3/ k ]3/d f General Capital Projects 0 \ GL - Revenue vs Expense (07/16/2019 - 08:57 AM) \ \2@ / /5@ @ Q c/3 £33 e ¢ \ \ 8 \3% Cl \/@ Q « 2 �\\ d CV / \ %S S % R \ ?- / \\ 9 47:. / f < w \ _ c - r / \\\ 9 « QQ g \@� § 2 x9 % R tri a Cci �\ S - CO \ \\ / \ \ $ 55/ m & CV a33 2 2 \ %\ / 2 / \n \ @ \ / 2 \ / \| @ @ 3 © a s c; 3 3 \ \ \ ( § ®gc) ,->0 042 * \ \ /C0 a: & (:, #.e, �A%// m ._a) ° \ t 8 w© 2 § o 5§ a) at:ye t \'E±_ & Cl..) / / $k/\c g )//3 ] 1 \ Cr) k \\ \\ / \/ e $ f ��//K,� \\%\/ \ \ CD P /// Account Nu Street Capital Projects GL - Revenue vs Expense (07/16/2019 - 08:57 AM) <1.) 00 © 0Co f G y3| A 3-3 § § \ @| R @ & \| § \ n » } 0 \ d N § VD » 2 w / » ƒ S 10 % 0Np § 2 2 /3 / £d3 en Q } cd ® cl / \ OP ® 4 — Q W \ /� 0 0 @| \ § \3 / § 333 » w m { U @@| @ @@0 @ 0 £3 e o0d 3 a Pal v-) / \ ƒ < < vp C { ( Ai J. / 0 a 0 1 g . O 2 • 04 m\� m °ate\ CU • 0 \§g\ § )y/; m / / / //\\ \ �J/\ ) P g 6 « rn- b4) k 0 \\ t \ %/g\ \ r / \ \\ /)\R/\% § \\\yg\\ \ Park Capital Projects \ GL - Revenue vs Expense (07/16/2019 - 08:57 AM) U O OI O) O o U O o O p O O O U U o 00) O OOI O O O p O p O O cd • Rosehill Tax Increment 0 0p OO I O O 0 o O p O O 0 o 0I o 0 0 0 o 0 0 0 0 of c 0 o O o 0 0 0 0 0 N vo al) G U 4 O N g C N 0 gP4 al) ca vo ' Qi U U p amIr u'' q C„ C a) a) 0 a) g O g WO W Rosehill Tax Increment 0 rt GL - Revenue vs Expense (07/16/2019 - 08:57 AM) A 0 � as \ urrent Period Account Number /@ N &@ 00 @ / a c r 3 R w g & \ 9 / $ c 2 3 n ¥ \ \ J / / 3 - /@ $ // 7 I 00 # z 3 % % \ S \ V R / 2 ,--1- 9 00 \ 00 \\ \ CO /� k �� k 7 f ? 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O u) 0 0 0 ti.. 0300 y 0 w w y aH o a woo w TIF District No. 1-2 GL - Revenue vs Expense (07/16/2019 - 08:57 AM) \ \ R \ CD 66\@1 / \/ et \22 % ? �\06 3© Q 4c- g e Q 8 @p/5 34\3 /� % YTD Balance Current Period Account Nu 2 y\\/@ @ @ w C\ t d a / \9z @ \ 7 / $ \ § c00 on ƒ«occ| 00 m gm%c R �e»oc m VZ CS /� % 36»\}%%/ • »L2n« cy-/ 3 \ % / § Cr @\T\� 7 \/%/ƒ| G CS ,c1 ƒ &'O k § • , a e : 6 4® 7 2 % $ @@@@ @ \\\\\ 3a/3 2 //fc/ 2c 2 % 0 N N — cn { \ » g0 ,- a) :/\ \ g .a e z § > (4 x § •g \)) - §ƒ ..-4 4) \ , � \ ) )§[)~/ k §G/\G/ ) 5�//)g ( =a E2 d2 a 7]//\3 Ix ]/J3/3 ] Sanitary Sewer GL - Revenue vs Expense (07/16/2019 - 08:57 AM) M 0 i+ •U count Numb O '-+ O\ p V' r- N O O -, V? O N \O 1` \O O 0 7 O tr) CN0 CS O V) <t ,t M O O co co) O NM p) 00 r-\000 p O 00\O p 'et ,.000N0 p O ,Y t O 00 l� M ,t O 0 cn M N ^ v p vn V) M Ur) H O in r- O I N M d" O O O I N V) O M p to M O\ O p M 1-1 O 00O r CN N 7t. csi O I O O 7 r- O t O M \O O [^ M 'd' N •-+ c:1' VO M M V' ,.-1 0000 OI 00 N or) OI T ~\ O C\\ 7 O 7 000 V O O- M N r- co M M 00 N 00 O V) L M .- H H 0 0 0 0 0 0 0 0 0 0 O C\\O O a d�'O�O 0 .-, v) \D 00 r- -.co p CD 7t- on CA vn o 0 0 0 0 0i 0 0 '-C c.) U N 2 O 7.,i .ti Nup cn 'd p b-0 N cd 0 UJ C0 y ,n T d S -i 0 U r. E O O N � > N y?-, C 0 d ti N O N 6) d0 cu 0 N a> k. 0 -(Zai y ,, a CAP4�U 0 F4a,a)000 W 0 0 Storm Water GL - Revenue vs Expense (07/16/2019 - 08:57 AM) +-. pp of O 0000 of O O U O O O O O O O O O O O W O O O 0 0 0 0 O O O U fes" YTD Balance O O p O 0 0 0 0 p O O O O p O O O O p O O O O 0 O O O O O O O O O O 01 O O O O O p I O O O O p O O O O O p O O O 00 O 00000 O O 1Z O O p I O O O O O p( O O O O p O O O O O p O O W O O p O O O O O p O O a) Q( it '.7 U 000 0 00000 0 0 ,.: 0001 0 00000 0 Description Account Number a) N a u a, U • O ai bD as d C v N O U}�y U ✓ Al 8 - N O p cp 'L N rn a) to y O 4. Vi H d b a > x ., a� °''oma a a G��EO WwOUQO W F4 GL - Revenue vs Expense (07/16/2019 - 08:57 AM) U Y 0) U 00 N 00 ri N,- 00 N N 00 \D D O Q CD a on W3 66 0 'r -C7 -4J Q) O \0 0 N o::-." ' Q) adNp a) 1.) L) ,b LJ L.; O ai L. R4 -aaw Current Period Account Nu 00 V) M h H G (.) V O N M r V v) M M C '-i GL - Revenue vs Expense (07/16/2019 - 08:57 AM) LAUDERDALE COUNCIL ACTION FORM Action Requested Consent X Public Hearing Discussion Action Resolution Work Session Meeting Date July 23, 2019 ITEM NUMBER STAFF INITIAL 2Q19 Investment Report APPROVED BY ADMINISTRATOR DESCRIPTION OF ISSUE AND PAST COUNCIL ACTION: Following is the Second Quarter Investment Report. OPTIONS: STAFF RECOMMENDATION: By approving the Consent Agenda, the Council acknowledges the investment report for April —June 2019. COUNCIL ACTION: Second Quarter 2019 Investment Report INVESTMENTS As of June 30, 2019, the City had the following amounts with official depositories: North Star Bank 4M Fund RBC Dain Rauscher Northland Securities 19% 23% TOTAL 10% 48% $ 475,504 2,264,116 1,100,000 903,019 $ 4,742,639 2 ❑ North Star Bank ■ 4M Fund ■ RBC Dain Rauscher ❑ Northland Securities DEPOSITORIES AND INVESTMENT TYPES North Star Bank Checking Account 4M Fund Joint Powers Investment RBC Dain Rauscher Certificates of Deposit Northland Securities Money Market Account Certificates of Deposit $ 475,504 $ 2,264,116 $ 1,100, 000 (9) $ 3,019 $ 900,000 (9) The City's Investment Policy sets some perimeters for investments, such as no more than 60% of the investment portfolio, or $2,000,000 (whichever is less) shall be invested with any one investment company. No investments shall be made with a term over ten years unless with prior approval from the City Council. 3 INVESTMENT TERM Liquid assets are money market accounts. 1-5 Years are made up of certificate of deposit and US Government Instrumentality Securities. 6-10 Years are US Government Instrumentality Securities. 11-15 Years are US Government Instrumentality Securities. 15+ Years are US Government Instrumentality Securities and bonds. US Government Instrumentality Securities are financial intermediaries established by the federal government to fund loans to certain groups of borrowers, such as homeowners, farmers and students. Most active issuers are Federal Home Loan Bank, Federal National Mortgage Association (Fannie Mae) and Tennessee Valley Authority. Maturities range from three months to 30 years with fixed interest rates. 4 2018 Investment Portfolio 60 50 40 30 20 10 0 First Quarter 2019 Investment Portfolio ■ Liquid Accounts ■ 1 Year ❑ 2 Years ❑ 3 Years ❑ 4 Years ■ Liquid Accounts ■ 1 Year ❑ 2 Years ❑3 Years ❑ 4 Years INVESTMENT TYPES Money Market $ 2,267,135 Bonds 0 Certificates of Deposit 2,000,000 US Government Securities 0 US Government rBonds Securities Certificates of Deposit —Money Market Investment Schedule Maturity Date Type Interest Rate Investment Broker Amount 5/30/2022 11/23/2021 11/21/2021 6/22/2021 3/29/2021 1/4/2021 9/28/2020 9/28/2020 5/28/2020 3/27/2020 12/30/2019 12/23/2019 10/28/2019 10/28/2019 9/30/2019 9/27/2019 9/23/2019 8/28/2019 4/15/2019 CD 3.00% CD 3.25% CD 3.25% CD 3.00% CD 2.95% CD 2.00% CD 1.95% CD 2.00% CD 2.85% CD 1.85% CD 1.70% CD 2.50% CD 2.00% CD 2.00% CD 1.70% CD 1.70% CD 2.45% CD 2.35% CD 1.20% RBC $100,000 RBC $100,000 Northland $100,000 Northland $100,000 RBC $100,000 Northland $100,000 Northland $100,000 RBC $100,000 Northland $100,000 Northland $100,000 RBC $100,000 Northland $100,000 RBC $200,000 RBC $200,000 RBC $100,000 Northland $100,000 RBC $100,000 Northland $100,000 Northland $100,000 $2,000,000 Bank JP Morgan Chase Citibank NA USB Synchrony Townebank Medallion Bank Barclay Bank Webbank Compass Landmark Bank Wells Fargo Morgan Stanley Bank Capital One Glen Allen Capital One McLean Ally Bank Discover Ben Franklin Bank Planters Bank Ally Bank There was one maturities in the second quarter of 2019 which is highlighted in red. Due to the need for liquid assets through the street reconstruction project, no new investments were made and the payment from Ramsey County is being held in the 4M Fund. Staff doesn't anticipate purchasing new investments until the final payment on the street project is made. 7 INTEREST EARNINGS The following chart shows the interest earnings since 2005 with 2007 being our best year with earnings of $161,884. Recently, short term interest rates made significant jumps forward while long term rates have stayed flat. Investment interest through 2018 totaled $52,360.75. Investment interest earned in the second quarter of 2019 totaled $41,536.31. Interest returns will run high in 2019 due to the additional funds for the street project being invested before being paid out. 180,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 , 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 8 2019 City of Lauderdale Investments Morgan Stanley Inst Gov't Money Market CD Synchrony CD Barclays Bank (March / Sept) CD Wells Fargo (monthly) CD Ally Bank (March/Sept) CD Discover Bank (March / Sept) Future purchases Northland Money Market CD UBS Bank CD Synchrony Transferred FDIC CUSIP 87164YWY6 06740KKX4 0 949763DT0 57803 02006L5P4 5649 254673DH6 90348J -FY -1 87164YWY6 CD Medallion Bank (Monthly) 58403B -5U-6 CD Barclays Bank (March/Sept) Transferr 06740KKX4 CD Compass Bank 20451P -WA -0 CD Landmark Community (Mo.) 51507L -BM -5 CD Morgan Stanley Bank 61747M -2W -C CD Discover Bank (March / Sept) 5649 254673DH6 CD Planters Bk 72741P -EF -0 CD Ally Bank Midvale Utah 02006LZR7 CD Key Bank 49306SWF9 CD BMW North American Bank Salt Lake 05580ADV3 Future purchases RBC Money Market CD JP Morgan Chase (Step Up) CD Citibank NA CD Townebank Portsmouth CD Webbank Salt Lake City CD Wells Fargo (monthly) CD Capital One Glen Allen CD Capital One McLean CD Ally Bank (March/Sept) CD Ben Franklin Future purchases 4M Funds Invest Fund Plus Fund 4M Short Term Series Future purchases Total Account 48128FR87 17312QW21 89214PBS7 947547JR7 0 949763DT0 33954 140420XC9 4297 14042RBK6 57803 02006L5P4 78414TAC6 TOTAL INVESTMENTS AND CDs. Rate 3.000 1.950 1.700 1.700 1.700 3.250 3.000 2.000 1.950 2.850 1.850 2.500 1.700 2.350 1.200 1.200 1.250 3.000 3.250 2.950 2.000 1.700 2.000 2.000 1.700 2.450 Approx, Maturity Holding Date in Days 1095 1095 1095 732 730 1095 1095 1460 1095 548 900 551 730 405 1096 1093 1096 1278 1095 1005 1095 1095 1460 1460 732 458 6/22/2021 9/28/2020 12/30/2019 9/30/2019 9/27/2019 11/22/2021 6/22/2021 1/4/2021 9/28/2020 5/28/2020 3/27/2020 12/23/2019 9/27/2019 8/28/2019 4/15/2019 3/4/2019 2/26/2019 5/30/2022 11/23/2021 3/29/2021 9/28/2020 12/30/2019 10/28/2019 10/28/2019 9/30/2019 9/23/2019 Purch Date 6/22/2018 9/27/2017 12/30/2016 9/28/2017 9/27/2017 Portfolio Value 11/21/2018 6/22/2018 1/3/2017 9/27/2017 11/28/2018 9/29/2017 6/21/2018 9/27/2017 6/28/2018 4/14/2016 3/2/2016 2/26/2016 Portfolio Value 11/30/2018 11/23/2018 6/28/2018 9/28/2017 12/30/2016 10/28/2015 10/28/2015 9/28/2017 6/22/2018 Portfolio Value Balance 12/31/2018 Transfers Purchases Sales in 4,139.53 144.38 100,000.00 - - - 100,000.00 - - - 100,000.00 - 144.38 - 100,000.00 - - - 100,000.00 - 504,139.53 144.38 144.38 2,264.98 - - 954.65 100,000.00 - 276.03 100,000.00 - 169.86 - 100,000.00 - - - 100,000.00 - 309.17 - 100,000.00 - - - 100,000.00 - 199.59 - 100,000.00 - - - 100,000.00 - - - 100,000.00 - - - 902,264.98 - 954.65 954.65 - - - 169.86 100,000.00 - - - 100,000.00 - - - 100,000.00 - - - 100,000.00 - 169.86 200,000.00 - 200,000.00 - - - 100,000.00 - - - 900,000.00 - 169.86 169.86 207,135.13 - - 820,169.86 702,058.93 - - - 909,194.06 - - - 3,215,598.57 - 1,268.89 1,268.89 From "Cash Balances" Rep( Investments Fund 101 Balance Investments Interest New Balance Transfers out Interest/ Dividends Balance 1/31/2019 Transfers Purchases Sales in Transfers out Interest/ Dividends Balance 2/28/2019 Purchases Sales - 8.13 4,292.04 - - 135.07 7.60 4,434.71 - - - 100,000.00 - - - 100,000.00 - - - - - - 100,000.00 - - - 100,000.00 - - - - 144.38 100,000.00 - 135.07 - - 135.07 100,000.00 - - 100,000.00 - - - - - 100,000.00 - - - - 100,000.00 - - - 100,000.00 - - - 152.51 504,292.04 135.07 135.07 300,000.00 142.67 204,434.71 - - - 3.58 3,223.21 - - 101,076.03 - 12.98 104,312.22 - - - 276.03 100,000.00 276.03 - - 276.03 100,000.00 - 249.32 - - - - - 100,000.00 - - 100,000.00 - - 169.86 100,000.00 - 169.86 - 169.86 100,000.00 - 153.42 - - - - 100,000.00 - - 100,000.00 - 966.99 - - 100,000.00 - - - - - 100,000.00 - - 309.17 100,000.00 - - - - 100,000.00 - 152.05 - 100,000.00 - - - - - 100,000.00 - - - - - - 100,000.00 - - 100,000.00 - 843.01 - 199.59 100,000.00 - - - 100,000.00 - 379.86 - - 100,000.00- - - - - 100,000.00 - - - 100,000.00 - -- 100,000.00 - 100,601.64 - - 100,000.00 - 100,630.14 630.14 - - - 958.23 903,223.21 - 101,076.03 401,076.03 - 1,089.01 1,204,312.22 - 103,346.29 169.86 - - - - 169.86 169.86 - - - - - 100,000.00 - - - - - 100,000.00 - - 100,000.00 - - - - - 100,000.00 - - - - 100,000.00 - -- - - 100,000.00 - - - 169.86 100,000.00 - 169.86 -- 169.86 100,000.00 - 153.42 - 200,000.00 - -- - - 200,000.00 - - - 200,000.00 - - - - - 200,000.00 - - - - - 843.01 - 100,000.00 - - - - - 100,000.00 - - 169.86 169.86 900,000.00 - 169.86 169.86 169.86 169.86 900,000.00 - 996.43 - 1,459.13 1,028,764.12 - - 169.86 500,000.00 1,236.61 530,170.59 - - 1,332.57 703,391.50 - - 400,000.00 - 1,586.85 1,104,978.35 - - - 2,791.70 1,732,155.62 - - 400,169.86 500,000.00 2,823.46 1,635,148.94 - - 169.86 4,072.30 4,039,670.87 - 101,380.96 801,550.82 I 800,169.86 4,225.00 3,943,895.87 - 104,342.72 xt From "Cash Balances" Report From "Cash Ba 4,035,598.57 Investments 3,939,670.87 Investments 3,365,472.52 Fund 101 Balance 3,393,331.57 Fund 101 Balai 670,126.05 546,339.30 4,035,598.57 Investments 3,939,670.87 Investments 4,072.30 Interest 4,225.00 Interest 4,039,670.87 New Balance 3,943,895.87 New Balance Transfers in Transfers Interest/ out Dividends Balance 3/31/2019 Transfers Purchases Sales in Transfers out Interest/ Dividends Balance 4/30/2019 Purchases 4,436.11 1.40 0.00 - - - 0.00 100,000.00 - - - - - - - - - 100,000.00 - - - - - - - - - 204,436.11 1.40 0.00 - - - - - 0.00 - 103,346.29 - 258.05 207,916.56 - 101,551.23 339.32 309,807.11 - - - 249.32 100,000.00 - 276.03 - - 276.03 100,000.00 - - 100,000.00 - - - - - 100,000.00 - 153.42 100,000.00 - 169.86 - - 169.86 100,000.00 - 966.99 100,000.00 - - - - - 100,000.00 - - 100,000.00 - - - - 100,000.00 - 152.05 100,000.00 - 304.11 - - 304.11 100,000.00 - - - 100,000.00 - - - - - 100,000.00 - 843.01 100,000.00 - - - - - 100,000.00 - 379.86 100,000.00- 199.59 - - 199.59 100,000.00 - - - - 100,000.00 - 100,601.64 - - 601.64 - - - - 601.64 - - - - - - - - 103,346.29 - 3,604.34 1,207,916.56 - 101,551.23 101,551.23 - 1,890.55 1,209,807.11 - 996.43 996.43 - - - - 4,443.01 4,443.01 - - - - - 100,000.00 - - - - - 100,000.00 - 100,000.00 - - - - - 100,000.00 - - 100,000.00 - - - - - 100,000.00 153.42 100,000.00 - 169.86 - - 169.86 100,000.00 - 100,000.00 - - 100,000.00 - 284.11 - - 284.11 100,000.00 - - - 200,000.00 - 1,994.52 - 1,994.52 200,000.00 - - - - 200,000.00 - 1,994.52 - - 1,994.52 200,000.00 - 100,000.00 - 843.01 100,000.00 - - - - 100,000.00 - - - 100,000.00 - - - - - 100,000.00 - 200,996.43 996.43 996.43 1,100,000.00 - 4,443.01 4,443.01 4,443.01 4,443.01 1,100,000.00 - 5,432.54 100,000.00 830.42 436,433.55 - - 4,443.01 210,000.00 516.18 231,392.74 - - - 2,068.73 1,107,047.08 - - - 2,004.31 1,109,051.39 - 5,432.54 100,000.00 2,899.15 1,543,480.63 - - 4,443.01 210,000.00 2,520.49 1,340,444.13 - 309,775.26 J 305,432.54 I 7,501.32 3,851,397.19 - 105,994.24 110,437.25 ( 214,443.01 8,854.05 3,650,251.24 - dances" Report From "Cash Balances" Report 3,843,895.87 Investments 3,641,397.19 'ice 3,405,367.84 Fund 101 Balance 3,309,285.67 438,528.03 332,111.52 3,843,895.87 Investments 3,641,397.19 7,501.32 Interest 8,854.05 3,851,397.19 New Balance 3,650,251.24 Transfers Transfers Interest/ Balance Transfers Transfers Interest/ Balance Sales in out Dividends 5/31/2019 Purchases Sales in out Dividends 6/30/2019 - 0.00 0.00 - - - - 0.00- - - - - 0.00 2,189.99 - 408.08 312,405.18 - - 3,188.36 312,602.28 28.07 3,019.33 267.12 - - 267.12 100,000.00 276.03 - - 276.03 100,000.00 - 100,000.00 - 1,495.89 - 1,495.89 100,000.00 164.38 - - 164.38 100,000.00 - 169.86 - - 169.86 100,000.00 - 100,000.00 - - - - - 100,000.00 1,413.29- - 1,413.29 100,000.00 - - - - - 100,000.00 152.05 - - 152.05 100,000.00 - - - - - 100,000.00 100,000.00 - 1,246.58 - - 1,246.58 100,000.00 - 100,000.00 100,000.00 193.15- - 193.15 100,000.00 - - - - - 100,000.00 2,189.99 2,189.99 - 2,598.07 1,212,405.18 - 3,188.36 3,188.36 312,602.28 3,216.43 903,019.33 3,403.42 3,403.42 - - - 2,862.46 2,862.46 - - 1,487.67 - - 1,487.67 100,000.00 - - - - - 100,000.00 1,611.64 - - 1,611.64 100,000.00 - - - - - 100,000.00 100,000.00 - 1,470.96 - - 1,470.96 100,000.00 164.38- - 164.38 100,000.00 - 169.86 - - 169.86 100,000.00 139.73- - 139.73 100,000.00 - - - - - 100,000.00 200,000.00- - - - - 200,000.00 200,000.00 - - - - - 200,000.00 - - 100,000.00 - - - - 100,000.00 - - - 100,000.00 - 1,221.64 - - 1,221.64 100,000.00 3,403.42 3,403.42 3,403.42 3,403.42 1,100,000.00 - 2,862.46 2,862.46 2,862.46 2,862.46 1,100,000.00 - 3,403.42 - 417.99 235,214.15 - 300,000.00 915.39 1,351,594.28 - - 200,000.00 1,852.51 910,903.90 - - - - 1,617.37 912,521.27 3,403.42 200,000.00 2,270.50 1,146,118.05 - - #414t#4/#11### 300,000.00 2,532.76 2,264,115.55 5,593.41 I 8,996.83.1 203,403.42 8,271.99 3,458,523.23 - 6,050.82 I ##########I 615,464.74 8,611.65 4,267,134.88 From "Cash Balances" Report From "Cash Balances" Report Investments 3,450,251.24 Investments 4,258,523.23 Fund 101 Balance 3,228,287.93 Fund 101 Balance 3,814,257.63 221,963.31 444,265.60 Investments 3,450,251.24 Investments 4,258,523.23 Interest 8,271.99 Interest 8,611.65 New Balance 3,458,523.23 New Balance 4,267,134.88 Transfers Transfers Interest/ Balance Transfers Transfers Interest/ Purchases Sales in out Dividends 7/31/2019 Purchases Sales in out Dividends - - - - - 0.00 - - - - - - - 0.00 - - - - - - - 3,019.33 - - - - - - 100,000.00 - - - - - - - - - - 100,000.00 - - - - 164.38 - - 164.38 100,000.00 - - - - - - - - - 100,000.00 - - - - - - - - - 100,000.00 - - - - - - - - - - 100,000.00 - - - - - - - - - - 100,000.00 - - - - - - - - - - 100,000.00 - - - - - - 199.59 - 199.59 100,000.00 - - - - - 363.97 - - 363.97 903,019.33 - - - - - - - - - - 100,000.00 - - - - - - - - 100,000.00 - - - - - - - - - 100,000.00 - - - - - - - - - 100,000.00 - - - - - 100,000.00 - - - - - 200,000.00 - - - - - - - - - 200,000.00 - - - - - - - - 100,000.00 - - - - - - - - 100,000.00 - - - - - - - - - - 1,100,000.00 - - - - - - - - - - 1,351,594.28 - - - - - - - - - 912,521.27 - - - - - - - - 2,264,115.55 - - - - - 363.97 - - 1 363.97 4,267,134.88 - 1 - - 1 - - From "Cash Balances" Report From "Cash Balances" Report Investments Investments Fund 101 Balance Fund 101 Balance Investments Investments Interest Interest New Balance New Balance Balance 8/31/2019 Transfers Purchases Sales in Transfers Interest/ out Dividends Balance 9/30/2019 Transfers Transfers Purchases Sales in out 0.00 - - - - - 0.00 - - 0.00- - - - - 0.00 - - - 3,019.33- - - - 3,019.33 - - - - 100,000.00 - - - - - 100,000.00 - - - - 100,000.00- - - - - 100,000.00 - - - - 100,000.00 - - - - - 100,000.00 - - - - 100,000.00 - - - - - 100,000.00- - - - 100,000.00 - - - - - 100,000.00 - - 100,000.00 - - - - - 100,000.00 - - - 100,000.00- - - - - 100,000.00 - - - - 100,000.00 - - - - - 100,000.00 - - - 100,000.00 - - - - - 100,000.00 - - - - 903,019.33 - - - - - 903,019.33 - - - - 100,000.00- - - - - 100,000.00 - - - - 100,000.00- - - - - 100,000.00 - - - - 100,000.00- - - 100,000.00 - - - - 100,000.00 - - - - - 100,000.00 - - - - 100,000.00- - - - - 100,000.00 - - - - 200,000.00- - - - 200,000.00 - - - 200,000.00- - - 200,000.00 - - - 100,000.00- - - - 100,000.00 - - - 100,000.00- - - - - 100,000.00 - - - - 1,100,000.00 - - - - - 1,100,000.00 - - - - 1,351,594.28- - - - 1,351,594.28 - - - - 912,521.27- - - - 912,521.27 - - - - 2,264,115.55- - - - 2,264,115.55 - - - - 4,267,134.88 - 1 - - 1 - 4,267,134.88 - 1 - I - - From "Cash Balances" Report From "Cash Balances" Report Investments Investments Fund 101 Balance Fund 101 Balance Investments Investments Interest Interest New Balance New Balance Interest/ Dividends Balance 10/31/2019 Transfers Transfers Interest/ Purchases Sales in out Dividends Balance 11/30/2019 Purchases Sales - 0.00 - - - - 0.00 - - 0.00 - - - - - 0.00 - - - 3,019.33 - - - - - 3,019.33 - - 100,000.00 - - - - - 100,000.00 - - 100,000.00 - -- - - 100,000.00 - 100,000.00 - - - - 100,000.00 - - 100,000.00- - - - - 100,000.00 - - - 100,000.00 - - 100,000.00 100,000.00 - - - - - 100,000.00 - - 100,000.00 - - - - - 100,000.00 - - 100,000.00 - - - - 100,000.00 - - - 100,000.00 - - - - - 100,000.00 - - 903,019.33 - - - - - 903,019.33 - - 100,000.00 - - - - - 100,000.00 - - - 100,000.00 - - - - 100,000.00 - - - 100,000.00 - - - - - 100,000.00 - - - 100,000.00 - - - - - 100,000.00 - - 100,000.00 - - - - 100,000.00 - - 200,000.00 - - - - - 200,000.00 - - - 200,000.00 - - - - - 200,000.00 - - 100,000.00 - - - - - 100,000.00 - - 100,000.00 - - - - 100,000.00 - 1,100,000.00 - - - - - 1,100,000.00 - - - 1,351,594.28 - - - - - 1,351,594.28 - - - 912,521.27 - - - - 912,521.27 - - 2,264,115.55 - - - - - 2,264,115.55 - - - 4,267,134.88 - - j - I - - 4,267,134.88 - - From "Cash Balances" Report From "Cash B. Investments Investments Fund 101 Balance Fund 101 Bala! Investments Investments Interest Interest New Balance New Balance Transfers in Transfers Interest/ out Dividends Balance 12/31/2019 0.00 - - - 0.00 3,019.33 100,000.00 100,000.00 - - 100,000.00 - - - 100,000.00 - 100,000.00 - - 100,000.00 - 100,000.00 100,000.00 - - 100,000.00 903,019.33 100,000.00 - - 100,000.00 100,000.00 100,000.00 100,000.00 200,000.00 200,000.00 - 100,000.00 - - 100,000.00 - 1,100,000.00 - 1,351,594.28 912,521.27 2,264,115.55 - 1 - 4,267,134.88 3lances" Report nce Investments as of 6/30/19 By Broker Smith Barney Northland RBC 4M Fund Total 0/0 0.0% 21.2% 25.8% 53.1% 100.0% Amount 0.00 903,019.33 1,100,000.00 2,264,115.55 4,267,134.88 Investments as of 6/30/19 By Type Money Market Fed Agency Commercial Paper Treasury Certificate of Deposit Total 53.1% 0.0% 0.0% 0.0% 46.9% 100.0% Amount 2,267,134.88 0.00 0.00 0.00 2,000,000.00 4,267,134.88 Investments as of 6/30/19 By holding period (from purchase date) % Amount No time limit 53.1% 2,267,134.88 Up to 1 year 0.0% 0.00 2 years 18.7% 800,000.00 3 years 16.4% 700,000.00 4 years and over 11.7% 500,000.00 Total 100.0% 4,267,134.88 LAUDERDALE COUNCIL ACTION FORM Action Requested Consent Public Comment X Discussion X Action Resolution Work Session Meeting Date July 23, 2019 ITEM NUMBER Annual Storm Water Report STAFF INITIAL -1A0) APPROVED BY ADMINISTRATOR DESCRIPTION OF ISSUE AND PAST COUNCIL ACTION: Annually, the City must report on its storm water efforts as one of the requirements of our Municipal Separate Storm Sewer System (MS4) permit. Attached is a copy of our most re- cent annual report submitted to the Minnesota Pollution Control Agency (MPCA). At the close of the presentation and discussion, the Council must allow for public comment on our storm water program. STAFF RECOMMENDATION: IMIMINNESOTA POLLUTION CONTROL AGENCY MS4 Annual Report for 2018 Reporting period: January 1, 2018 to December 31, 2018 Due: June 30, 2019 Instructions: Complete this annual report to provide a summary of your activities under the 2013 M54 Permit (Permit) between January 1, 2018 and December 31, 2018. MPCA staff may also contact you for additional information. Questions: Contact Cole Landgraf (cole.landgraf@state.mn.us, 651-757-2880) MS4 General Contact Information Full Name: Title: Mailing Address: City: State: Zip Code: Phone: Email: Heather Butkowskt City Administrator 1891 Walnut Streeet Lauderdale MN 55113 651-792-7657 admin@lauderdalemn.org Preparer Contact Information (if different from the M54 General Contact) Full Name: Title: Organization: Mailing Address: City: State: Zip Code: Phone: Email: Heather Butkowskt City Administrator City of Lauderdale 1891 Walnut Street Lauderdale MN 55113 651-792-7657 admin@lauderdalemn.org MINNESOTA POLLUTION CONTROL AGENCY MCM 1: Public Education and Outreach The following questions refer to Part 111.3.1. of the Permit. Q2 Did you select a stormwater-related issue of high priority to be emphasized during this Permit term? [Pert I I I.D.1.a.(1)] Yes Q3 If 'Yes' in 42, what is your stormwater-related Issue(s)? Check all that apply. Total Maximum Daily Loads (TMDLs) Local businesses Residential best management practices (BMPs) Pet waste Yard waste Deicing materials Household chemicals Construction activities Post -construction activities Other If 'Other,' describe: Q4 Have ou distributed educational materials or equivalent outreach to the public focused on Illicit discharge recognition and reporting? [Part III.D.S.a.(2)] Q5 Do you have an implementation plan as required by the Permit? [Part III.D.1.b.] i Yes Q6 How did you distribute educational materials or equivalent outreach? [Part III.0.1.a.1 Check all that apply In the table below. Q7 For the items checked in Q6 below, who is the intended audience? Check all that apply In the table below. Q8 For the items checked In Q6 below, enter the total circulation/audience In the table below (0 unknown, use best estimate). Q6 How did you distribute educational materials or equivalent outreach? Check all that apply: Q7 Intended audience? Check all that apply: Q8 Total circulation/audience: (if unknown, best est.) Residents Local businesses Developers Students Employees Other Brochure X Newsletter X X X X 4600 Utility bill insert Newspaper ad X Radio ad X X X X X 500 Television ad X Cable access channel X X X X 200 Stormwater•related event School project or presentation X Website X XX 100 Other (1) Describe: Other(2) Describe: 1 Other(3) Describe: For Q9 and Q10 below provide a brief description of each activity rel ted to public education and outreach (e.g. rain garden workshop, school presentation, public works open house) held and the date each activity was held from January 1, 2018 to December 31, 2018. [Part III.D.1.c.(4)] Q9 Date of Activity 8/15/2019 Q10 Description of Activity Mississippi Watershed Management Organization, Capital Region Watershed District, Rice Creek Watershed District, and Ramsey County Conservation District participate in our annual summer festival. Q11 Between January 1, 2018 and December 31, 2018, did you modify your BMPs, measurable goals, or future plans for your public education and outreach program? [Part IV.B.] If 'Yes; describe those modifications: I No 1 MINNESOTA POLLUTION CONTROL AGENCY MCM 2: Public Participation/Involvement The following questions refer to Part III.D.2.a. of the Permit. Q12 You must provide a minimum of one opportunity each year for the public to provide input on the adequacy of your Stormwater Pollution Prevention Program (SWPPP). Did yorovide this opportunity between January 1, 2018 and December 31, 2018? (Part III.D.2.a.(1)) Q11 Between January 1, 2018 and December 31, 2018, did you modify your BMPs, measurable goals, or future plans for your public education and outreach program? [Part IV.B.] If 'Yes; describe those modifications: I No 1 MINNESOTA POLLUTION CONTROL AGENCY MCM 2: Public Participation/Involvement The following questions refer to Part III.D.2.a. of the Permit. Q12 You must provide a minimum of one opportunity each year for the public to provide input on the adequacy of your Stormwater Pollution Prevention Program (SWPPP). Did yorovide this opportunity between January 1, 2018 and December 31, 2018? (Part III.D.2.a.(1)) 1 Q13 If 'Yes' In Q12, what was the opportunity that you provided? Check all that apply. Public meeting Public event Other Q1.4 If 'Public meeting' In Q13, did you hold a stand-alone meeting or combine It with another event? Combined Enter the date of the public meeting: Enter the number of citizens that attended and were informed about your SWPPP: Q10 If 'Public Event' in Q13, Describe: 7/24/2018 Q15 Enter the date of the public event: Enter the number of citizens that attended and were Informed about your SWPPP: Q16 If 'Other' In Q13, Describe: L Enter the date of the 'other' event: Enter the number of citizens that attended and were informed about your SWPPP: Q17 Between January 1, 2018 and December 31, 2018, did you receive any input regarding your SWPPP? I No I If 'Yes; enter the total number of individuals or organizations that provided comments on your SWPPP: Irk' Q18 If 'Yes' in Q17, did you modify your SWPPP as a result of written Input received? [Part III.D.2.b.(2)) If 'Yes; describe those modifications: Q19 Between January 1, 2018 and December 31, 2018, did you modify your BMPs, measurable goals, or future plans for your public education and outreach program? [Part IV.B.] If 'Yes,' describe those modifications: 1 No 1 MINNESOTA POLLUTION CONTROL AGENCY MCM 3: Illicit Discharge Detection and Elimination The following questions refer to Part 111.0.3. of the Permit Q20 Do you have a regulatory mechanism which prohibits non-stormwater discharges to your MS4? 1 Yes I Q21 Did you identify any Illicit discharges between January 1, 2018 and December 31, 2018? [Part III.D.3.h.[4)] Yes 1 Q22 If 'Yes' In 021, enter the number of Illicit discharges detected: I 1 I Q23 If 'Yes' in Q21, how did you discover these Illicit discharges? Check all that apply. Public complaint Staff X Q24 If 'Public complaint' in Q23, enter the number discovered by the public: Q25 I 1 I If 'Staff' in Q23, enter the number discovered by staff: I i Q26 If 'Yes' In Q21, did any of the discovered illicit discharges result in an enforcement action (this Includes verbal warnings)? No Q27 If 'Yes' in Q26, what type of enforcement actlon(s) was taken and how many of each action were issued between January 1, 2018 and December 31, 2018? Check all that apply. Verbal warning Notice of violation Fine Criminal action Civil penalty Other Number Issued: If 'Other, describe: Q28 If 'Yes' In Q26, did the enforcement action(s) taken sufficiently address the illicit discharge(s)? I I Q29 If 'No' in Q28, why was the enforcement not sufficient to address the Illicit discharge(s)? Q30 Do ou have written Enforcement Response Procedures (ERPs) to compel compliance with your illkit discharge regulatory mechanism(s)? (Part 111.8.) Q31 Between January 1, 2018 and December 31, 2018, did you train all field staff In Illicit discharge recognition (Including conditions which could cause Illicit discharges) and reporting Illicit discharges for further Investigations? [Part III.D.3.e.] 1 Yes Q32 If 'Yes' in Q31, how did you train your field staff? Check all that apply. Email Powerpoint Presentation Video Field Training Other If 'Other; describe: In office discussions and MPCA waste water seminar. The following questions refer to Part III.C.1. of the Permit. Q33 Did you update your storm sewer system map between January 1, 2018 and December 31, 2018? [Part III.C.1.] I No I Q34 Does your storm sewer map Include all pipes 12 inches or greater In diameter and the direction of stormwater flaw in those pipes? [Part III.C.1.a.) I Yes I Q35 Does your storm sewer map Include outfalls, Including a unique Identification (ID) number and an associated geographic coordinate? [Part III.C.1.b.] I Yes I Q36 Does your storm sewer map include all structural stormwater BMPs that are part of your MS4? (Part III.C.1.c.) I Yes I Q37 Q38 In what format is your storm sewer map available? Does your storm sewer map Include ail receiving waters? [Part III.C.1.d.] 1 Yes GIS If 'Other describe: Q39 Between January 1, 2018 and December 31, 2018, did you modify your BMPs, measurable goals, or future plans for your illicit discharge detection and elimination (IDDE) program? [Part IV.B.) 1 No I If 'Yes,' describe those modifications: innMINNESOTA POLLUTION 1 CONTROL AGENCY MGM 4i Construction Site Stormwater Runoff Control The following questions refer to Part 111.0.4. of the Permit. Q40 Do you have a regulatory mechanism that 1 at least as stringent as the Agency's general permit to Discharge Stormwater Associated with Construction Activity (CSW Permit) No. MN R100001 (http://www.pca.state.mn.us/index.php/view-document.html?gid=18984) for erosion and sediment controls and waste controls? [Part III.D.4.a.] I Yes I Q41 Have you developed written procedures for site plan reviews as required by the Permit? [Part 111.0.4.6.] 1 Yes 1 1142 Have you documented each site plan review as required by the Permit? [Part III.D.4.f.] 1 Yee I Q43 Q44 What types of enforcement actions do you have available to compel compliance with your regulatory mechanism? Check all that apply and enter the number of each used from January 1, 2018 to December 31, 2018. Enter the number of 1 0 1 e plan reviews conducted for sites an acre or greater between January 1, 2018 and December 31, 2018: Number issued: Verbal warning 0 Notice of violation 0 Administrative order 0 Stop -work order 0 Fine 0 Forfeit of security bond money 0 Withholding of certificate of occupancy 0 Criminal action 0 Civil penalty 0 Other 0 1f 'Other, describe: Q95 Do you have written Enforcement Response Procedures (ERPs) to compel compliance with your construction site stormwater runoff control regulatory mechanism(s)? [Part 111.8.] Yes Q46 Enter the number of active construction sites an acre or greater that were in your jurisdiction between January 1, 2018 and December 31, 2018: 1 1 Q47 Do you have written procedures for identifying priority sites for inspections? [Part I11.D.4.d.(1)] 1 No 1 1149 Q50 Enter the number of site inspections conducted for sites an acre or greater between January 1, 2018 and December 31, 2018: Q48 If 'Yes' in Q47, how are sites prioritized for inspections? Check all that apply. Site topography Soil characteristics Types of receiving water(s) Stage of construction Compliance history Weather conditions Citizen complaints Project size Other If 'Other,' describe: Do you have a checkli t or other written means to document site inspections when determining compliance? [Part III.D.4.d.(4)] Yes Q51 0 Enter the frequency at which inspections are conducted (e.g. daily, weekly, monthly): [Part III.D.4.d.(2)] Would be weekly if we had construction. Q52 Enter the number of trained inspectors that were available for construction site inspections between January 1, 2018 and December 31, 2018: 1 1 1 Q53 Provide the contact information for the inspector(s) and/or organization that conducts construction stormwater inspections for your M54. List your primary construction stormwater contact first if you have multiple inspectors. 1 Inspector Name Organization Phone (Office) Phone (Work Cell) Email Preferred contact method 2 Inspector Name Organization Phone (Office) Phone (Work Cell) Email Preferred contact method 3 Inspector Name Organization Phone (Office) Phone (Work Cell) Email Preferred contact method Chad Johnson Stantec (612)712-2064 651-325-6860 chad.johnson@stantec.com work cell phone Q54 What train ng did inspectors receive? Check all that apply. University of Minnesota Erosion and Stormwater Management Certification Program Qualified Compliance Inspector of Stormwater (QCIS) Minnesota Laborers Training Center Stormwater Pollution Prevention Plan Installer or Supervisor Minnesota Utility Contractors Assocation Erosion Control Training Certified Professional in Erosion and Sediment Control (CPESC) Certified Professional in Stormwater Quality (CPSWQ) Certified Erosion Sediment and Storm Water Inspector (CESSWI) Other X X If'Other ,' describe: U of M Design of Construction SWPPP Q55 Between January 1, 2018 and December 31, 2018, did you modify your BMPs, measurable goals, or future plans for your construction site stormwater runoff control program? (Part IV.B.1 If 'Yes describe those modifications: No ��MINNESOTA POLLUTION CONTROL AGENCY MCM 5: Post -Construction Stormwater Management The following questions refer to Part 111.0.5. of the Permit. Q56 Do you have a regulatory mechanism which meets all requirements as specified in Part III.D.5.a of the Permit? 1 Yes I Q57 What approach are you using to meet the performance standard for Volume, Total Suspended Solids (TSS), and Total Phosphorus (TP) as required by the Permit? [Part III.D.S.a.(2)] Check all that apply. Refer to the link http://www.pca.state.mn.us/index.php/view-document.html?gid=17815 for guidance on stormwater management approaches. Retain a runoff volume equal to one inch times the area of the proposed Increase of Impervious surface on-site Retain the post -construction runoff volume on site for the 95th percentile storm Match the predevelopment runoff conditions Adopt the Minimal Impact Design Standards (MIDS) An approach has not been selected Other method (Must be technically defensible - e.g., based on modeling, research and acceptable engineering practices) If'Other,' describe: We require at minimum 80%TSS removal and 50%TP removal for the City. We also defer to the local Watershed requirements (Rice Creek WD, Mississippi WMO, and Capital Region WD) for these items which are more stringent than the City's requirements. RCWD you must retain the runoff volume equal to 1.1 inches times the area of new impervious or 0.75 Inches of linear projects. MWMO you must retain a runoff volume Q58 Do you have written Enforcement Response Procedures (ERPs) to compel compliance with your post -construction stormwater management regulatory mechanism(s)? (Part 111.6.1 I Yes I Q59 Between January 1, 2018 and December 31, 2018, did you modify your BMPs, measurable goals, or future plans for your post -construction site stormwater management program? [Part IV.B.] If 'Yes; describe those modifications: 1 No I Milt MINNESOTA POLLUTION I CONTROL AGENCY MCM 6: Pollution Prevention/Good Housekeeping for Municipal Operations The following questions refer to Part 111.0.6. of the Permit. Q60 Enter the total number of structural stormwater BMPs, outfalls (excluding underground outfalls), and ponds within your M54 (exclude privately owned). Structural stormwater BMPs Outfalls Ponds 9 8 2 Q61 Enter the number of structural stormwater BMPs, outfall (excluding underground outfalls), and ponds that were Inspected from January 1, 2018 to December 31, 2018 within your MS4 (exclude privately owned). [Part III.D.6.e.] Structural stormwater BMPs Outfalls Ponds 9 8 2 Q62 Have you developed an alternative inspection frequency for any structural stormwater BMPs, as allowed in Part III.D.6.e.(1) of the Permit? 1 No 1 Q63 Based on Inspection findings, did you conduct any maintenance on any structural stormwater BMPs? [Part III.D.6.e.(1)] No Q64 If 'Yes; briefly describe the maintenance that was conducted: Q65 Do you own or operate any stockpiles, and/or storage and material handling areas? [Part III.D.6.e.(3)] I No I Q66 If 'Yes' in Q65, did you inspect all stockpiles and storage and material handling areas quarterly? [Part III.D.6.e.(3)] I I Q67 If 'Yes' in Q66, based on inspection findings, did you conduct maintenance at any of the stockpiles and/or storage and material handling areas? I I Q68 If 'Yes' in Q67, briefly describe the maintenance that was conducted: Q69 Between January 1, 2018 and December 31, 2018, did you modify your BMPs, measurable goals, or future plans for your pollution prevention/good housekeeping for municipal operations program? (Part IV.B.] If 'Yes; describe those modifications: No 1 �IMINNESOTA POLLUTION CONTROL AGENCY Discharges to Impaired Waters with a USEPA-Approved TMDL that Includes an applicable WLA If required, you must complete the TMDL Annual Report Form, available at: http://stormwater.pca.state.mn.us/index.php/Upload page_with_TMDL_forms. Attach your completed TMDL Annual Report Form to this Annual Report as instructed below. [Part 111.5] Q71 Successfully uploaded file: TMDL form not required for Lauderdale City MS4. MMINNESOTA POLLUTION I CONTROL AGENCY Alum or Ferric Chloride Phosphorus Treatment Systems The following questions refer to Part 111.F.3.a. of the Permit. Provide the Information below as it pertains to your alum or ferric chloride phosphorus treatment system. 'Alum or Ferric Chloride Phosphorus Treatment Systems' section not required for Lauderdale City MS4. Q72 Date(s) of operation (mm/dd/yyyy - mm/dd/yyyy) January February March April May June July August September October November December January February March April May June July August September October November December Q73 Chemical(s) used for treatment: Q74 Gallons of alum or ferric chloride treatment: Q75 Q76 Calculated pounds of phosphorus Gallons of water treated: removed: Q77 Any performance issues and corrective action(s), Including the date(s) when corrective action(s) were taken, between January 1, 2018 and December 31 2018: MINNESOTA POLLUTION CONTROL AGENCY Partnerships Q78 Did you rely on any other regulated MS4s to satisfy one or more Permit requirements? Yes Q79 If 'Yes' in Q78, describe the agreements you have with other regulated MS4s and which Permit requirements the other regulated MS4s help satisfy: [Part IV.B.6.) We defer to the Rice Creek Watershed District, Mississippi Watershed Management Organization, and the Capitol Region Watershed District rules when they are more stringent than our rules. MINNESOTA POLLUTION CONTROL AGENCY Additional Information If you would Tike to provide any additional files to accompany your annual report, use the space below to upload those files. For each space, you may attach one file. You may provide additional explanation and/or information In an email with the subject YourMS4NameHere_2018AR to ms4permitprogram.pca@state.mn.us. Q80 Successfully uploaded file: Q81 Successfully uploaded file: Q82 Successfully uploaded Ole: Q83 No fife attached. No file attached. No file attached. Optional, describe the file(s) uploaded: MitMINNESOTA POLLUTION CONTROL AGENCY Owner of Operator Certification The person with overall administrative responsibility for SWPPP implementation and Permit compliance must certify this M54 Annual Report. This person must be duly authorized and should be either a principal executive (i.e., Director of Public Works, City Administrator) or ranking elected official (i.e., Mayor, Township Supervisor). I certify under penalty of law that this document and all attachments were prepared under my direction or supervision in accordance with a system designed to assure that qualified personnel properly gathered and evaluated the information submitted. Based on my inquiry of the person or persons who manage the system, or those persons directly responsible for gathering the information, the information submitted is, to the best of my knowledge and belief, true, accurate, and complete (Minn. R. 7001.0070). I am aware that there are significant penalties for submitting false Information, including the possibility of fine and imprisonment (Minn. R. 7001.0540). Yes x By typing my name in the following box, I certify the above statements to be true and correct, to the best of my knowledge, and that information can be used for the purpose of processing my MS4 Annual Report. Name: Title: Date: Heather Butkowskt City Administrator 6/18/2019 LAUDERDALE COUNCIL ACTION FORM Action Requested Consent Public Hearing Discussion X Action X Resolution X Work Session Meeting Date July 23, 2019 ITEM NUMBER STAFF INITIAL REE Conduit Rev. Bonds APPROVED BY ADMINISTRATOR DESCRIPTION OF ISSUE AND PAST COUNCIL ACTION: The primary financing tool Real Estate Equities (REE) plans to use to construct a senior rental apartment at 1795 Eustis Street is tax-exempt bonds. In order to apply to the state for these bonds, they need a resolution of support from the City Council. The resolution is non- binding in that it neither creates a financial obligation for the City nor conveys land use rights. Julie Eddington, the City's bond counsel at Kennedy and Graven, will be at the meeting to explain in greater detail. Staff also asked her to explain the application process that REE will go through to qualify for these bonds and milestones for the City going through the process. OPTIONS: STAFF RECOMMENDATION: Motion to adopt Resolution 072319A—A Resolution Providing Preliminary Approval to the Issuance of Revenue Obligations under Minnesota Statutes, Chapters 462C and 474A, as Amended, and Taking Other Actions in Connection therewith. Kennedy C HART ERED Offices in Minneapolis Saint Paul St. Cloud 470 U.S. Bank Plaza 200 South Sixth Street Minneapolis, MN 55402 (612) 337-9300 telephone (612) 337-9310 fax www.kennedy-graven.com Affirmative Action, Equal Opportunity Employer JULIE A. EDDINGTON Attorney at Law Direct Dial (612) 337-9213 Email: jeddington@kennedy-graven.com July 13, 2019 Heather Butkowski, City Administrator City of Lauderdale 1891 Walnut Street Lauderdale, MN 55113 Re: Resolution calling a public hearing on the proposed issuance of conduit revenue bonds by the City of Lauderdale for the benefit of Real Estate Equities, LLC Dear Heather, Real Estate Equities, LLC, a Minnesota limited liability company, or an affiliate (collectively, the "Borrower"), has proposed to acquire, construct, and equip approximately 114 units of affordable senior housing (the "Project") to be located at 1795 Eustis Street in the City of Lauderdale (the "City"). In order to finance the Project, the Borrower is requesting that the City issue one or more series of tax-exempt or taxable conduit revenue bonds (the "Bonds") in the principal amount not to exceed $33,000,000. Enclosed is a resolution to be considered by the City Council calling a public hearing on the issuance of the Bonds and taking other actions related to the issuance of the Bonds. As you know, the City Council previously adopted a preliminary resolution for the Bonds in April. At the Borrower's request, we have revised the principal amount of the Bonds and changed the date of the public hearing for the bonds. The Bonds, if authorized by the City, will be issued in one or more series as housing revenue bonds under Minnesota Statutes, Chapter 462C, as amended (the "Act"). In accordance with the Act, the City will be required to conduct a public hearing on the issuance of the Bonds and the approval of a housing program. Additionally, Section 146 of the Internal Revenue Code of 1986, as amended (the "Code"), requires that the Bonds receive an allocation of bonding authority of the State of Minnesota (the "State"). An application for this allocation must be made pursuant to Minnesota Statutes, Chapter 474A, as amended (the "Allocation Act"). The enclosed resolution authorizes the City to take actions to prepare the housing program and an application for allocation in accordance with Section 146 of the Code and the Allocation Act. My office will coordinate the process for application for allocation from the State's unified pool in late July. If the City Council adopts the enclosed resolution, the City Council will be asked to conduct the public hearing required under the Act and the Code at a future City Council meeting. We have tentatively selected the meeting to be held on Tuesday, September 10, 2019 as the date for the public hearing. Following the public hearing, the City Council will be asked to consider a resolution approving the housing program, providing final approval to the issuance of the Bonds, and authorizing the execution of documents in connection with the Bonds. Error! Bookmark not delincd. If issued, the Bonds will be secured solely by the revenues derived from the loan agreement to be executed by the Borrower and from other security provided by the Borrower. The Bonds will not constitute a general or moral obligation of the City and will not be secured by or payable from any property or assets of the City (other than the interests of the City in the loan agreements) and will not be secured by any taxing power of the City. The Bonds will not be subject to any debt limitation imposed on the City, and the issuance of the Bonds will not have any adverse impact on the credit rating of the City, even in the event that the Borrower encounters financial difficulties with respect to the Project to be financed with the proceeds of the Bonds. The Borrower will agree to pay the out-of-pocket expenses of the City with respect to this transaction as well as the City's administrative fee. I can attend the City Council and can answer any questions that may arise during the meeting. Please contact me with any questions you may have prior to the City Council meeting. S incerely, Julie A. Eddington 563500v1 CITY OF LAUDERDALE, MINNESOTA RESOLUTION NO. 072319A RESOLUTION PROVIDING PRELIMINARY APPROVAL TO THE ISSUANCE OF REVENUE OBLIGATIONS UNDER MINNESOTA STATUTES, CHAPTERS 462C AND 474A, AS AMENDED, AND TAKING OTHER ACTIONS IN CONNECTION THEREWITH BE IT RESOLVED by the City Council (the "City Council") of the City of Lauderdale, Minnesota (the "City"), as follows: Section 1. Recitals. 1.01. Pursuant to Minnesota Statutes, Chapter 462C, as amended (the "Housing Act"), the City is authorized to carry out the public purposes described in the Housing Act by providing for the issuance of revenue bonds to provide funds to finance multifamily housing developments. 1.02. Real Estate Equities, LLC, a Minnesota limited liability company, or an affiliate (collectively, the "Borrower"), has proposed to acquire, construct, and equip approximately 114 units of affordable senior housing to be located at 1795 Eustis Street in the City (the "Project"). 1.03. The Borrower is requesting that the City issue revenue obligations, in one or more series, as taxable or tax-exempt obligations (the "Bonds"), in the approximate principal amount of $33,000,000, in order to finance the Project. 1.04. Under Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), prior to the issuance of the Bonds, the City Council must conduct a public hearing after posting notice of such public hearing on the City's website at least seven (7) days before the hearing. Under Section 462C.04, subdivision 2 of the Housing Act, a public hearing must be held on the housing program after one publication of notice in a newspaper circulating generally in the City at least fifteen (15) days before the hearing. 1.05. Pursuant to Section 146 of the Code, the Bonds must receive an allocation of the bonding authority of the State of Minnesota. An application for such an allocation must be made pursuant to the requirements of Minnesota Statutes, Chapter 474A, as amended (the "Allocation Act"). The City Council must grant preliminary approval to the issuance of the Bonds to finance the Project and authorize the submission of an application to the office of Minnesota Management & Budget for an allocation of bonding authority with respect to the Bonds to finance the Project. Section 2. Preliminary Findings. Based on representations made by the Borrower to the City to date, the City Council hereby makes the following preliminary findings, determinations, and declarations: (a) The Bonds will finance a multifamily housing development designed and intended to be used for rental occupancy by seniors. (b) The proceeds of the Bonds will be loaned to the Borrower and the proceeds thereof, along with other available funds, will be used to finance the Project, finance capitalized interest during the construction of the Project, fund required reserve funds, and pay costs of issuance of the Bonds. The City will enter into one or more loan agreements (or other revenue agreement) with the Borrower requiring loan repayments from the Borrower in amounts sufficient to repay the loan of the proceeds of the Bonds when due and requiring the Borrower to pay all costs of maintaining and insuring the Project, including taxes thereon. (c) In preliminarily authorizing the issuance of the Bonds, the City's purpose is to further the policies of the Housing Act. (d) The Bonds will be special, limited obligations of the City payable solely from the revenues pledged to the payment thereof, will not be a general or moral obligation of the City, and will not be secured by or payable from revenues derived from any exercise of the taxing powers of the City. Section 3. Submission of an Application for an Allocation of Bonding Authority. The City Council hereby authorizes the submission of an application for allocation of bonding authority with respect to the Bonds in the approximate principal amount of $33,000,000 pursuant to Section 146 of the Code and the Allocation Act in accordance with the requirements of the Allocation Act. City staff and Kennedy & Graven, Chartered, acting as bond counsel to the City ("Bond Counsel"), shall take all actions, in cooperation with the Borrower, as are necessary to submit an application for an allocation of bonding authority to the office of Minnesota Management & Budget. Section 4. Public Hearing. The City Council shall meet at 7:30 p.m. on September 10, 2019 or another date chosen by the City Administrator, to conduct a public hearing on the Housing Program, the Project, and the issuance of the Bonds by the City. Notice of such hearing (the "Public Notice") will be published and/or posted as required by Section 462C.04, subdivision 2 of the Housing Act and Section 147(0 of the Code. Bond Counsel is hereby authorized and directed to publish the Public Notice, in substantially the form attached hereto as EXHIBIT A, in the Roseville Review, the official newspaper of the City, and in the Pioneer Press, a newspaper of general circulation in the City, at least fifteen (15) days before the meeting of the City Council at which the public hearing will take place. City staff is authorized and directed to post the Public Notice, in substantially the form attached hereto as EXHIBIT A, on the City's website at least seven (7) days before the meeting of the City Council at which the public hearing will take place. At the public hearing reasonable opportunity will be provided for interested individuals to express their views, both orally and in writing, on the Project, the Housing Program, and the proposed issuance of the Bonds. Section 5. Housing Program. Bond Counsel shall prepare and submit to the City a draft Housing Program to authorize the issuance by the City of up to $33,000,000 in revenue bonds to finance the acquisition, construction, and equipping of the Project by the Borrower. Bond Counsel is authorized and directed to submit, on behalf of the City, the Housing Program to Metropolitan Council for review and comment pursuant to Section 462C.04, subdivision 2 of the Housing Act. Section 6. Preliminary Approval. The City Council hereby provides preliminary approval to the issuance of the Bonds in the estimated principal amount not to exceed $33,000,000, subject to: (i) a public hearing as required by the Housing Act and Section 147(0 of the Code; (ii) final approval following the preparation of bond documents; and (iii) final determination by the City Council that the financing of the Project and the issuance of the Bonds are in the best interests of the City. Section 7. Reimbursement of Costs under the Code. 7.01. The United States Department of the Treasury has promulgated regulations governing the use of the proceeds of tax-exempt bonds, all or a portion of which are to be used to reimburse the City or the Borrower for project expenditures paid prior to the date of issuance of such bonds. Those regulations 554805v2 JAE LA135-38 2 (Treasury Regulations, Section 1.150-2) (the "Regulations") require that the City adopt a statement of official intent to reimburse an original expenditure not later than sixty (60) days after payment of the original expenditure. The Regulations also generally require that the bonds be issued and the reimbursement allocation made from the proceeds of the bonds occur within eighteen (18) months after the later of: (i) the date the expenditure is paid; or (ii) the date the project is placed in service or abandoned, but in no event more than three (3) years after the date the expenditure is paid. The Regulations generally permit reimbursement of capital expenditures and costs of issuance of the Bonds. 7.02. To the extent any portion of the proceeds of the Bonds will be applied to expenditures with respect to the Project, the City reasonably expects to reimburse the Borrower for the expenditures made for costs of the Project from the proceeds of the Bonds after the date of payment of all or a portion of such expenditures. All reimbursed expenditures shall be capital expenditures, costs of issuance of the Bonds, or other expenditures eligible for reimbursement under Section 1.150-2(d)(3) of the Regulations and also qualifying expenditures under the Housing Act. Based on representations by the Borrower, other than (i) expenditures to be paid or reimbursed from sources other than the Bonds, (ii) expenditures permitted to be reimbursed under prior regulations pursuant to the transitional provision contained in Section 1.150-2(j)(2)(i)(B) of the Regulations, (iii) expenditures constituting preliminary expenditures within the meaning of Section 1.150-2(0(2) of the Regulations, or (iv) expenditures in a "de minimis" amount (as defined in Section 1.150-2(0(1) of the Regulations), no expenditures with respect to the Project to be reimbursed with the proceeds of the Bonds have been made by the Borrower more than sixty (60) days before the date of adoption of this resolution of the City. 7.03. Based on representations by the Borrower, as of the date hereof, there are no funds of the Borrower reserved, allocated on a long term -basis or otherwise set aside (or reasonably expected to be reserved, allocated on a long-term basis or otherwise set aside) to provide permanent financing for the expenditures related to the Project to be financed from proceeds of the Bonds, other than pursuant to the issuance of the Bonds. This resolution, therefore, is determined to be consistent with the budgetary and financial circumstances of the Borrower as they exist or are reasonably foreseeable on the date hereof. Section 8. Costs. The Borrower will pay the administrative fees of the City and pay, or, upon demand, reimburse the City for payment of, any and all costs incurred by the City in connection with the issuance of the Bonds, whether or not the Bonds are issued. Section 9. Commitment Conditional. The adoption of this resolution does not constitute a guaranty or firm commitment that the City will issue the Bonds as requested by the Borrower. The City retains the right in its sole discretion to withdraw from participation and accordingly not to issue the Bonds, or issue the Bonds in an amount less than the amount referred to herein, should the City at any time prior to issuance thereof determine that it is in the best interest of the City not to issue the Bonds, or to issue the Bonds in an amount less than the amount referred to in Section 6 hereof, or should the parties to the transaction be unable to reach agreement as to the terms and conditions of any of the documents required for the transaction. Section 10. Effective Date. This resolution shall be in full force and effect from and after its passage. 554805v2 JAE LA135-38 3 Adopted by the City Council of the City of Lauderdale, Minnesota this 23`d day of July, 2019. ATTEST: City Administrator 554805v2 JAE LA135-38 4 Mayor EXHIBIT A NOTICE OF PUBLIC HEARING CITY OF LAUDERDALE, MINNESOTA NOTICE OF PUBLIC HEARING ON THE APPROVAL OF A HOUSING PROGRAM FOR A MULTIFAMILY SENIOR HOUSING DEVELOPMENT AND THE ISSUANCE OF REVENUE BONDS UNDER MINNESOTA STATUTES, CHAPTER 462C, AS AMENDED NOTICE IS HEREBY GIVEN that the City Council of the City of Lauderdale, Minnesota (the "City") will hold a public hearing on Tuesday, September 10, 2019, at or after 7:30 p.m. at City Hall, located at 1891 Walnut Street in the City, to consider a proposal that the City approve and authorize the issuance of its revenue bonds, in one or more series, as taxable or tax-exempt obligations (the "Bonds"), pursuant to Minnesota Statutes, Chapter 462C, as amended (the "Act"), for the purposes of (i) financing the acquisition, construction, and equipping of approximately 114 units of affordable senior housing to be located at 1795 Eustis Street in the City (the "Project"); (ii) funding any required reserve funds; (iii) financing capitalized interest during the construction of the Project; and (iv) paying the costs of issuing the Bonds. Real Estate Equities, LLC, a Minnesota limited liability company, or an affiliate (collectively, the "Borrower"), will own the Project. The aggregate principal amount of the proposed Bonds is estimated not to exceed $33,000,000. Following the public hearing, the City Council will consider a resolution approving a housing program prepared in accordance with the requirements of the Act and granting approval to the issuance of the Bonds. The Bonds will be special, limited obligations of the City, and the Bonds and interest thereon will be payable solely from the revenues and assets pledged to the payment thereof. No holder of any Bond will have the right to compel any exercise of the taxing power of the City to pay the Bonds or the interest thereon, nor to enforce payment against any property of the City except money payable by the Borrower to the City and pledged to the payment of the Bonds. Before issuing the Bonds, the City will enter into an agreement with the Borrower, whereby the Borrower will be obligated to make payments at least sufficient at all times to pay the principal of and interest on the Bonds when due. At the time and place fixed for the public hearing, the City Council will give all persons who appear at the hearing an opportunity to express their views with respect to the proposal. In addition, interested persons may direct any questions or file written comments respecting the proposal with the City Administrator, at or prior to said public hearing. Dated: [Date of Publication/Posting on City's website] A-1 554805v2 JAE LA135-38 BY ORDER OF THE CITY COUNCIL OF THE CITY OF LAUDERDALE, MINNESOTA /s/ Heather Butkowski City Administrator City of Lauderdale, Minnesota LAUDERDALE COUNCIL ACTION FORM Action Requested Consent Public Hearing Discussion Action Resolution Work Session X Meeting Date July 23, 2019 ITEM NUMBER GARE Work Session STAFF INITIAL \ i APPROVED BY ADMINISTRATOR DESCRIPTION OF ISSUE AND PAST COUNCIL ACTION: In early June, the Council began the GARE (Government Alliance on Race and Equity) training in partnership with the League of Minnesota Cities. Lauderdale is the League's pi- lot program for determining how to make the training possible for small cities with resource limitations. The first meeting provided Council and staff with background information to understand the roots of institutional racism. The Council is devoting this meeting's work session to "Part 1B" of the three part process. In this phase, Council and staff will brain- storm strategies to achieve more racially equitable outcomes in Lauderdale. OPTIONS: STAFF RECOMMENDATION: Outline for Developing Race Equity Plan for Mahnomen and Lauderdale as Pilots for Smallest Cities Three-part process: 1. Session for City Officials (Staff and Elected) — Basic Race Equity Training (6 hours) Basic Training in Race Equity and the Role of Government (4 hours) • learn that racism isn't just about individual attitudes of prejudice but, more importantly, about institutions and structures that lead to outcomes that are disadvantageous for communities of color, whether intentional or not • understand explicit versus implicit bias, and how implicit bias may be the one with the most detrimental impacts • practice identifying examples of both explicit and implicit bias operating within the structures of city government • become aware of government's role in creating racial inequity, and how historic practices that have been eliminated have nonetheless left a legacy • learn key terms and concepts that support normalizing (learning to talk about) racial equity • gain an understanding of what it means to operationalize (or plan and carry out) strategies to achieve racial equity • be motivated to take action and sustain prolonged efforts Brainstorm Ideas About How This May Apply to Our Community (2 hours) • think about the history of race in your community; or what history you might need to research • defining very broadly what you would like racial equity to look like in your community • join colleagues in identifying the possible issues that might need to be addressed to achieve more racially equitable outcomes in your community • think about community engagement and reaching out to stakeholders — who needs to be at the table?; how do we persuade them to participate? 2. Community Engagement Session (2 — 3 hours) Purpose: To introduce the concept of race equity to the community, seek their advice and input. Basic Overview (1 hour) • cover basic concepts of the GARE model of achieving racial equity. • discuss implicit versus explicit bias; institutional and structural racism • a few examples of how city governments have perpetuated racism (may be brainstorming as much as presentation) Facilitated Discussion (1 — 2 hours) • open forum/brainstorm issues in this community • begin imaging what solutions might look like • identify key stakeholders that need or want to be involved; clarify roles 3. Development of Race Equity Strategic Plan (4 hours) Purpose: For city officials (and community members if the city likes) to develop a simplified race equity strategy plan using a simplified format (example attached) • what are our priority issues to address? • what is the desired result? • is there any existing data that can help us understand this issue better? If not, is there simple data that we can realistically generate given our resources? • what are our specific priority strategies? • what is the implementation plan? • how will we communicate both our strategies, and our accountability for achieving outcomes to relevant stakeholders and to the public? City of 999999 Race Equity Plan Mission: (May be Optional or is City's Basic Mission Statement) Vision: (The Desired State of Race Equity in the Community) Strategy: Characteristics and description listed here Goal: Action Steps Assigned Deadline a. b. b. c. c. Goal: Action Steps a. Assigned Deadline a. b. b. c. c. Goal: Action Steps Assigned Deadline a. b. c. As many strategies and underlying goals can be identified as the city wants