HomeMy WebLinkAboutResolution 02-EDA165
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RESOLUTION NO. 02-EDA-165
MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION AMENDING THE 2001 BUDGET OF THE EDA FUND AND THE TIF
DISTRICT FUNDS FOR PROJECTS AUTHORIZED DURING 2001 AND FOR
TRANSFERS TO THE DEBT SERVICE FUNDS
WHEREAS, the City Charter, Section 7.08 gives the City Council authority to
amend the budget by resolution; and
WHEREAS, during the year 2001, the Economic Development Authority
approved several projects in the E.D.A. Fund that were to be funded by a variety of
grants, developer fees, bond sales, and transfers from the TIF Funds; and
WHEREAS, the above projects were approved as follows:
I Proj~Ct -- ___1_ ~~=- ResolutioQ _. Ame0(ii-r!~n-t to Budget i
Hi hway 10 Revitalization ~ Resolution 01-EDS-145 $95,000 i
~c~u~i~~ ~b16 Cty B9_l-f?_i_Resolution 01-EDAJ18 -.=-__~-==If[5~,:9015_:1
~~~::~~~~:~:~~:: ~b~~-J~;:~:~::~~ ~~~~DA-14_~_-=-JHH?~l
H~c<i!JJ~itio~ ~991 HillYi~VII_____1 Resolution 01-EDA-1!50 ___J;J_QO~P99_'
S_~JegfJIE~e~~_~U_~!?~nd_~ L ~~SQI~liQ~ j)1~~QA_~_1~~fAL .. __.~}I~I~
WHEREAS, most of these projects were completed in 2001, but one, the
Edgewood Regional Pond continued into 2002; and
WHEREAS, the City Council adopted Resolution 5735 on March 25, 2002 that
authorized a reorganization of funds which included the creation of bond debt service
funds separate from the TIF District Funds;
WHEREAS, the City's auditors recommended that the 2001 Annual Financial
Report be presented as though these debt service funds had existed from the beginning
of the year.
NOW, THEREFORE BE IT RESOLVED, THAT the 2001 ED.A. Fund Budget be
amen_<!eg t() lhe following~_ _______ .___________
I ___ _~!='{~NUES: __ ____
I
L_~_t~t~ Gr~ tl!?
!~_ev~op~r ~e~~
Bond sales
..-.-..--.. .-.--.-"
Transfers from TIF Districts
HU _._. _. ..__ ____ .. _ u_. ___ _ ....__.___. ___ ___._ .__
Total Revenues
- __.. __. .0..- ___
EXPENDITURES:
.--....---
--~~~s~i~~el _______________ _ +- ___.____ $86,~~~
-ContractualServices I -----1]fS3,726
Capital outlay--H-- 1-----460~885
=~~~~=~Io[81_E~pendituresr--- ~__=j1,632:3j1 J
$24,256
.-- ----.-..--.-..--..-
23,423
737,900
....-.--.,--..
846,792
$1 ,632~~?1
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Resolution No. 02-EDA-165
September 9, 2002
Page 2
BE IT FURTHER RESOLVED, THAT the 2001 TIF District Funds Budget be
amended to the following:
:---.- -.-- . .-- .-" .-
t..._ __ _. _ ._. . __ _____ _ _n _
-"-.. --- --- --
TIF District #1 TIF
.--- ------ _.n ...-
_"_n_ .___
-..- $1,413,066 ----...
-".. 81 ,000 -._---
-- -- 64,306 ..---. .--
s $1,558,372
- _. n_. __.__ __ ______
--- .-----
l?QO I $500 i
55,048 ! 70,326 I
~--- ------378,-142--1
26 ;
179,952! 216,418 i
. - ---I I
_.J;235,500J_________ $665,4.12j
TIF District #3 !
--- -. -".--.- ------ - ..... ---..--!
I
.--- - __u_________ __ __ _._,
14 $473,214
00 25,000
--
14 $498,214
.. --. ".- --_.__.._.~.- ..- ----.--.--
....-- I
District #2
i REVENUES:
:-T-axTn-cremen~s __ _ _ _
I I nvestment income
:-Mis-ce-lIaneQ~~- _ _ _
, Total Revenue
_____..n_. __.. _ _ __ ._" _
~____ ~P~~Q-'TURES:
; Contractual
--_..-- _.-.-
: Pay-as-you-go __.__ _ _
; Transfer to EDA
____n_.._.__ __ ._..______ _ ..._ __._._
I Transfer to TIF #4
- -- - -- - -. ---- ..- .-. -" ..-
: Transfer to Debt Service
Tot~~~~e:6ditures ;
$114,5
-.--"---.
7,2
$121,7
$12,160 !
60,845 I
_______________ __ _____1
468,650 I
_ _ __1
I
!
i
I
i
:
;
1,085,125 I
- -== )T~~6~t8-0 i
Adopted by the Board of Commissioners of the Mounds View Economic
Development Authority this 9th day of September 2002.
RiCha: s1e~:dent
ATTEST:
lz;lvG
Kat leen F. Miller, Executive Director
(SEAL)
Motion by: Thomas
Second: Stigney
Sonterre:
Stigney:
Marty:
Thomas:
Quick:
Aye
Aye
Absent
Aye
Absent