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HomeMy WebLinkAboutHousing & Redevelopment Authority Packet 10-25-2012MEETING AGENDA PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY THURSDAY, OCTOBER 25, 2012 - 7:00 p.m. WHERE: Medicine Lake Room City of Plymouth 3400 Plymouth Boulevard Plymouth, MN 55447 CONSENT AGENDA All items listed on the Consent Agenda are considered to be routine by the Housing and Redevelopment Authority and will be enacted by one motion. There will be no separate discussion of these items unless a Commissioner, citizen or petitioner so requests, in which event the item will be removed from the consent agenda and considered in normal sequence on the agenda. 1. CALL TO ORDER - 7:00 P.M. 2. CONSENT AGENDA A. Approve HRA Meeting Minutes for July 26, 2012. (Recessed from 9/27/ 12) A.1 Approve HRA Meeting Minutes for September 27, 2012. B. Plymouth Towne Square. Accept Monthly Housing Reports. C. Vicksburg Crossing. Accept Monthly Housing/Marketing Reports. 3. PUBLIC HEARING A. Section 8 Housing Choice Voucher Program. Proposed changes to the Housing Choice Voucher Administrative Plan. (Recessed from 9/27/ 12) 4. NEW BUSINESS A. HRA Budgets. Review and approve 2013 HRA Budgets. (Recessed from 9/27/ 12) B. Plymouth Towne Square. Review and approve 2013 Budget. C. Vicksburg Crossing. Review and approve 2013 Budget. 5. ADJOURNMENT DRAFT MINUTES PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY September 27, 2012 PRESENT: Commissioners Bob Stein and Carl Runck ABSENT: Chairman Jeff Kulaszewicz, Commissioners Paul Caryotakis and Jim Willis STAFF PRESENT: Housing Program Manager Jim Barnes OTHERS PRESENT: None 1. CALL TO ORDER Commissioner Carl Runk called the Plymouth Housing and Redevelopment Authority meeting to order at 7:44 p.m. Due to not having a quorum present to conduct official business, Commissioner Runk recessed the meeting to October 25, 2012 and closed the meeting. Meeting closed at 7:05 p.m. a. A. DRAFT MINUTES PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY July 26, 2012 PRESENT: Chairman Jeff Kulaszewicz, Commissioners Bob Stein, Carl Runck and Jim Willis ABSENT: Commissioner Paul Caryotakis STAFF PRESENT: Housing Program Manager Jim Barnes, HRA Executive Director Steve Juetten, Support Services Manager Denise Whalen, HRA Specialist Kip Berglund and Office Support Specialist Laurie Lokken OTHERS PRESENT: Grace Management Representative Jody Boedigheimer 1. CALL TO ORDER Chair Kulaszewicz called the Plymouth Housing and Redevelopment Authority meeting to order at 7:03 p.m. 2. CONSENT AGENDA A. Approve HRA Meeting Minutes from May 24, 2012. B. Plymouth Towne Square. Accept Monthly Housing Reports. C. Vicksburg Crossing. Accept Monthly Housing/Marketing Reports. D. Community Development Block Grant (CDBG). Accept Consolidated Annual Performance and Evaluation Report (CAPER) and Notice of Annual Citizens' Participation Meetings. MOTION by Commissioner Willis, seconded by Commissioner Stein, to approve the consent agenda. Vote. 4 Ayes. MOTION approved. 3. NEW BUSINESS HRA Executive Director Juetten requested item 3. C. to be placed ahead of item 3. A. on the agenda. C. Discuss Inquiry About Interest In Vicksburg Crossing. HRA Executive Director Juetten gave an overview of the staff report. Draft Plymouth Housing and Redevelopment Authority July 26, 2012 Page 2 Grace Management Representative Boedigheimer stated that Holiday Retirement is a middle market company. She said that they have live-in managers, usually two couples that are onsite 2417. She said it's a tough job and they have a lot of turn over in that position in their communities. She said that one of their clients is affiliated with Holiday and the Holiday model. She questioned whether Holiday understood that Vicksburg Crossing does not have a commercial kitchen. She said that their interest in Vicksburg Crossing seems odd and this is probably the last company she would have ever expected to approach the HRA for this property. She said they have three meals a day all inclusive in their rent. She said they have a travel program throughout all of their communities where you can go to a Holiday in another state and stay in its guest room if it's available. HRA Executive Director Juetten asked if this is the typical size for a Holiday community, Grace Management Representative Boedigheimer responded their footprint is 100 to 120 and they have expanded it a little bit in some of their later developments but they don't typically like to go over 120. She stated their units are typically larger than most retirement communities. Commissioner Stein asked if this could have been a shotgun letter that they sent out to various apartment buildings to see what responses they get. Executive HRA Director Juetten responded it sounds like they have gotten some investment money and they are in the acquisition mode. He said they have one building in White Bear Lake so they are looking to expand in the Twin Cities market. Commissioner Runck stated that current cap rates are pretty low in apartment acquisitions and looking at the Net Operating Income (NOI) on this building, about $300,000 a year is 6 caps that is a $55,000 unit cost. He said they might be thinking of adding a commercial kitchen or doing something if they budget for that. He said it would be interesting to know what the mission of the HRA is with this property and what the real valuation is that could be attached to that property today. He said it's a lot lower than would be for any other building at that low of an NOI. He said replacement cost is over $100,000 unit. Executive HRA Director Juetten replied that staff could look into that if the Board wanted to go in that direction. Chairman Kulaszewicz stated our mission is to provide housing for our residents and would a building like that still provide housing for our residents. He stated that it was not our intent, when either Vicksburg Crossing or Plymouth Towne Square was built, to hold them long enough to turn for profit and then sell. Commissioner Stein stated that he doesn't assume that they have any subsidized units. Grace Management Representative Boedigheimer responded negatively and added that their average rents would double. Housing Program Manager Barnes stated that Holiday's website indicates they are charging about $2,600 per month, flat fee for everything that they include. He said that would be an increase in rent for our current residents based on Vicksburg Crossing current rents and average living expenses, Draft PIymouth Housing and Redevelopment Authority July 26, 2012 Page 3 Commissioner Runck stated that if he were in their shoes, he would see a value at buying this for 50,000 unit and put $10,000 into it and then charge more rent. He said that he would be interested to hear their full proposal but it doesn't sound like it's in line with the mission of the HRA. Chairman Kulaszewicz stated that there are other ancillary issues, like bonds. He said when someone buys municipal bonds, they expect the bonds to remain in place until they mature. Housing Program Manager Barnes responded that there would be some work to do to be able to do that. He said he did not know what that would mean for the HRA or the city with regards to future bond issues. Housing Program Manager Barnes stated that the HRA mission is to provide a wide range of housing options in the city and to work with the city and the City Council to provide those options within our community. He said these buildings serve that purpose. Commissioner Stein stated that by selling Vicksburg Crossing, we wouldn't be meeting our mission unless we made enough money off the sale and doubled the number of units we are providing. He stated that he wouldn't be interested in selling. Chairman Kulaszewicz stated he wouldn't be interested in pursuing this and wasting their time or staff's time. He said if we were in the business and our mission was to develop properties and turn a profit would be one thing but that's not the FM -A's mission. Commissioner Willis stated that he didn't disagree. MOTION by Chairman Kulaszewicz, seconded by Commissioner Runck, requesting HRA staff to respond to Holiday Retirement that the HRA is not interested in selling Vicksburg Crossing. Vote. 4 Ayes. Motion approved. A. Housing Choice Voucher Program (Section 8) Study. Commissioner Willis stated that administrative reimbursement continues to fall and it's not likely to be increased. He said the issue is to talk about what to do to cover deficit of the administrative expenses from this point forward. IIRA Executive Director Juetten stated the unrestricted net assets are the money that we built up over time and we can use that money to offset a deficit on an annual basis. He said that assumptions were made in these calculations with no increase from HUD and a 2-112% increase per year on our expenses. He said 2020-2021 would be when we would be in the negative and that would be when we would have to start taking money from either an HRA levy or something else to help fund it. Draft Plymouth Housing and Redevelopment Authority July 26, 2012 Page 4 HRA Executive Director Juetten went over the four options outlined in the staff report. He added this is a lot of historical data that we did not have in one place before and since staff spent a lot of time on this, it is a good document to have. Chairman Kulaszewicz stated that he found it to be very interesting, informational and the time was well spent. Commissioner Willis stated that he recommends continuing as currently doing and monitoring it. He said other HRAs are going to be pushed to the same point and let's find out what others come up with, as they may come up with something unique. He said if we can ultimately have the same housing results for Section 8 run by somebody else, there may be a time when that may be the best thing for us to do because of cost factors. He said that given the reserves that we have, it is not necessary to make that decision today. Commissioner Willis added that he is not interested in running the reserves down to zero because then you don't have flexibility for anything else. HRA Executive Director Juetten responded that if we want to get out of the program, we would have to find somebody that wants our program. He agreed with Commissioner Willis that it would be hard to sell to somebody else with a zero reserve balance. Commissioner Stein stated that he assumed every HRA is facing the same shortfall so why would anybody want to take it over. Commissioner Willis stated that Metropolitan Council would because they would levy it. IIRA Executive Director Juetten stated that certain ones have different ways of doing it. Chairman Kulaszewicz asked that if we did turn it over wouldn't that cause cuts in staff. HRA Executive Director Juetten responded affirmatively. He said there would definitely be two people that we would eliminate immediately. Chairman Kulaszewicz asked if the intent, when it was taken over in the first place, was to have more local control. Commissioner Stein stated it was a good idea. HRA Executive Director Juetten responded absolutely and there are some real good, solid benefits of us operating the program. He said the question is just when to decide that we may have to look at using local dollars to subsidize the program. Commissioner Stein asked if we make money with port ins. HRA Executive Director Juetten responded that we get money, we don't make money. Commissioner Stein asked if we ever Iose money on a portin. Support Services Manager Whalen replied that we get 80% of the administrative fee on a port in and for being a small housing authority, we do very well with our port ins. She said that is what has sustained us the last few years. Commissioner Stein stated that if we had more port ins, we could almost make up the deficit and he asked if there is a way to attract that. Support Services Manager Whalen responded that one of the issues is that the rental market is very tight right now and if owners opt out or don't accept Plymouth Housing and Redevelopment Authority July 26, 2012 Page S Section 8, it hurt us. She said that Westview Estates has helped us because we had, not only our project -based vouchers there, ten others that ported in from other housing authorities. She said having a good affordable housing project like that helps us because then people want to come here. HRA Executive Director Juetten added that Park Place Apartments only has one Section 8 client left and they are leaving soon. He said Park Place is not looking for any more. He said they are raising their rents and putting improvements into the buildings. He said the amount of rent is capped and if it's over, Section 8 people have to pay the difference and they can't afford to pay a whole lot. Commissioner R-anck stated that with all the construction going on, vacancies are going to crawl back up in the next few years and that will help us out. HRA Executive Director Juetten agreed and stated this is probably a couple -year blip that will probably correct itself in the next few years. MOTION by Commissioner Willis, seconded by Chairman Kulaszewiez, to continue on the current Housing Choice Voucher Program course, monitor the program and update the spreadsheet on an annual basis. Vote. 4 Ayes. MOTION approved. B. Emergency Repair Assessment/Loan Program. HRA Specialist Berglund gave an overview of the staff report on the Emergency Repair Assessment Program. Commissioner Willis asked if it would be limited to water utility or if it could include sanitary sewer or connection to the sanitary sewer if their septic system failed and they haven't previously connected to the city sewer. HRA Specialist Berglund responded that could also be an assessment. Housing Program Manager Barnes added that staff could look at those items. He said that we are restricted by statute for what's assessable. He said that staff would add sewer to the Emergency Repair Assessment Program. He said that staff had considered putting in trees, as well, if they were damaged in storms or diseased. He said that in talking with the Park staff, they all ready have the ability to assess residents if needed and they didn't want to wrap that in with this program at this time. Commissioner Willis asked if it is strictly limited to sewer and water. Housing Program Manager Barnes responded that there are other items listed in the statute but a lot of them, such as sidewalk and street repairs, are all ready being assessed through a normal process. He said staff felt we would deal with things that come up more in an emergency situation, such as a water service breaking on the owner's side of the property. Commissioner Willis asked what assurance staff has that the water fund is going to be amendable through becoming a piggy bank for this program. Housing Program Manager Barnes replied that staff has talked with Public Works Director Cote and he was comfortable with this. Draft Plymouth Housing and Redevelopment Authority July 26, 2012 Page 6 He said we would be doing the same thing that Public Works has been doing in the past when emergencies have come up, with the exception that we are bringing in HRA staff to have a review of their income and make sure that they meet a certain test before it comes before the City Council for an assessment. He said it is an extra set of requirements so that the Council knows that there are guidelines in place. HRA Executive Director Juetten added that the idea of this policy and the policy itself would have to go in front of the City Council, too. He stated that the idea is that the HRA staff has the technical expertise to analyze whether or not somebody needs assistance or not but the city has the authority to assess, the HRA does not. He said even if there was a program set up with HRA dollars, some how it would have to still get back to the City Council so that they could approve the assessment. He said that rather than do it that way, staff discussed that the money would come from a non -HRA fund (a city fund) but the HRA staff would help Engineering and Public Works determine eligibility. Commissioner Runck asked if there is a program like this for seniors already. HRA Executive Director Juetten responded that there is through the HRA. Housing Program Manager Barnes added that there is an emergency repair grant program for individuals who are 55 years of age or older. He said that what we are proposing doesn't have any age restrictions and the income Iimit is a little higher than the CDBG program. He said it would potentially help out a broader spectrum of individuals. Commissioner Willis stated that when it goes to the City Council, he would be Iooking for what the limitations are in terms of what kinds of things are going to be subject to getting a grant and what kind of work is going to be authorized, such as water service or sanitary sewer. Housing Program Manager Barnes stated there is not a huge need for this. He said Public Works Director Cote has said that he has 35 to 40 breaks in a year that are on the homeowner's side. He said of those 35 to 40, it is literally two or maybe three a year where the homeowner is in a financial situation where they can't pay for the costs immediately. He said it is a very small amount but the reason staff proposed this is because it was a more secure way for the city to protect the funds. Housing Program Manager Barnes stated that assessments do not go away; whereas, loans could be lost through a foreclosure. Commissioner Willis stated that if you don't talk about sanitary sewer somebody will bring it up because if a sewer line collapses or gets plugged up, from a health standpoint, that's probably more severe of a problem, He asked HRA staff to discuss adding it to the policy with Public Works Director Cote. Chairman Kulaszewicz stated that he is also in favor of adding sanitary sewer to the policy. Commissioner Willis stated that he thought there should be a cap. Housing Program Manager Barnes responded that staff borrowed this language from the city's policy on assessments. Draft Plymouth Housing and Redevelopment Authority July 26, 2012 Page 7 Commissioner Willis stated it would be how much you would be willing to spend if a sewer or water line goes out and he doesn't know how much they cost. HRA Specialist Berglund replied that the estimates are around $2,000 to $3,000. Commissionet Willis asked if that was from the street valve on the property line to the home meter. HRA Executive Director Juetten replied affirmatively. He added that they don't always have to go all the way back to the house. Housing Program Manager Barnes stated that a cap could be included. He said septic systems could get costly. He said if they are not hooked up to city services, we would be looking at abandoning the septic system and trying to get that house connected to the city service. Housing Programs Manager Barnes said staff thought the maximum eligible income for this program would be capped at $83,900 for household income, using the median income for a four - person household. Commissioner Willis asked if the cap is defined by an annual adjustment. Housing Program Manger Barnes responded that it would be looked at and adjusted annually. Chairman Kulaszewiez added it would be adjusted to whatever the median income is. HRA Specialist Berglund gave an overview of the staff report on the Emergency Repair Loan Program. Commissioner Willis asked if this loan program includes windows. HRA Specialist Berglund responded that this would not include windows because that would not be viewed as an emergency type repair. He said that would be more suited for either our rehabilitation loan program or we would direct the resident to the Minnesota Housing Finance Agency's Fix -Up Fund. Housing Program Manager Barnes added that it could be used for windows if it were just a single window that presented an emergency situation. Commissioner Willis asked how the loan would be collected or how default would be avoided if it is capped at $5,000. Housing Program Manager Barnes responded that we would become a lender, just like any bank, and there would be terms in our document about defaults; such as, what would be a default, how to cure those defaults and what the repercussions would be. Chairman Kulaszewicz asked if it would be a second mortgage. Housing Program Manager Barnes replied affirmatively and that we would be in a second or maybe even a in a third position, depending the number of loans each homeowner has. He said this is an emergency situation where something comes up. He said our CDBG program is a grant program for seniors. He added that there will be more risk in a loan program. Commissioner Stein asked if the program would start out with $50,000. Housing Program Manager Barnes confirmed that amount and added that staff's thought is to make this a pilot program and see if it is successful. Draft Plymouth Housing and Redevelopment Authority July 26, 2012 Page S Commissioner Runck asked if the funds would be utilized too quickly. Housing Program Manager Barnes responded that it has to be an emergency. He said it is not designed to address just an old furnace, water heater, etc. He said there would have to be an emergency situation or the furnace would have to be "red tagged" by the utility company. Commissioner Stein asked if staff has received calls from people that their furnace is broken and needs to be replaced but then they are not eligible so you can't help them. Housing Program Manager Barnes responded affirmatively, He said that staff fields about 10 calls per year. HRA Executive Director Juetten asked if it is typically seniors that just have more income from investments. Housing Program Manager Barnes replied that there is a wide variety, as some are under the age limit or over the income limit. Commissioner Stein asked if $50,000 was the total for the program or if that would be the amount going into the program each year. Housing Program Manager Barnes responded that staff proposes to initially fund the program at $50,000 and evaluate the program, either within a year or as those funds are depleting. He said staff would report back to the Board on the progress of the program. He said if the program is successful, it would ultimately be funded for a number of years and eventually it would become self sustaining. Commissioner Willis asked if these programs have an administrative fee to cover staff time. Housing Program Manager Barnes replied that we have not proposed any administrative fee for this but we could. Commissioner Willis stated that he is not suggesting we add a fee at this time. Chairman Kulaszewicz stated that we put in $50,000 and it is a one time deal. He said we look at it again in a year or when $50,000 is depleted, whichever comes first. Housing Program Manager Barnes stated that at a minimum, staff would bring it back in a year even if there were still funds remaining to keep the Board informed. Commissioner Willis stated that there is not going to be a deluge of applicants. Chairman Kulaszewicz stated that he would assume staff will put it out on the city's website and let residents know the program exists. Housing Program Manager Barnes responded affirmatively. He said the more you market and advertise programs, the more they get used. He said we are always cautious when we have limited funds. Commissioner Stein asked how quickly someone's eligibility can be determined. Housing Program Manager Baines replied it depends on how quick they can get us the required information. He said they are asked to bring in a couple years of tax returns, two months of their most recent pay stubs and documentation on their current mortgage. Commissioner Stein asked what happens if the emergency occurs on weekends or holidays. Housing Program Manager Barnes responded that we do not have anything set up for weekends or holidays but we certainly could look into it. He said most people understand government and that we are not open on weekends and certain holidays. Commissioner Stein asked if Public Draft Plymouth Housing and Redevelopment Authority July 26, 2012 Page 9 Works responds. HRA Executive Director Juetten replied that they respond immediately for water breaks. Chairman Kulaszewicz stated that he was in favor of both of these programs. MOTION by Commissioner Stein, seconded by Commissioner Runck, to approve the Emergency Repair Assessment Program and Emergency Repair Loan Program policies with HRA Board recommendations to be submitted to the City Council for review and approval. Vote. 4 Ayes. Motion approved. 6. ADJOURNMENT MOTION by Chair Kulaszewicz, without objection, to adjourn the meeting at 7:50 p.m. P PLYMOUTH TOWNE SQUARE MEMORANDUM To: Jim Barnes From: Sara Paquette, Interim Managing Director, Plymouth Towne Square Date: September 17, 2012 Re: PTS Monthly Report for July and August 2012 August and September Newsletter and Calendar attached Occu anc /Marketin We had a new resident move into apartment 309 on August 1, 2092. a.too Currently there are 135 names on the one bedroom wait list and 26 names on the two bedroom wait list. There are no notices to vacate. There was full occupancy August 1, 2012. Administrative/Building Operations A change in management staff was made effective August 29. Sara Paquette (Vicksburg Crossing) is assisting, along with Grace Management staff, at Plymouth Towne Square in the interim. The office hours are half days Monday, Tuesday, Thursday and Friday (closed Wednesdays) until a replacement is hired. The boiler replacement project is nearing completion. Resident Services On Thursday, July 19th the pharmacist from Lund's came to provide information and answer questions for residents. Our Night to Unite party was on Tuesday, August 7th. The musical group "After 5" performed. Taylor Marie's clothing store was here on Friday, August 24th and had a sale for residents in the community room. The monthly birthday celebrations were held on July 26th and August 23rd. We had cake and ice cream. 15500 37th Avenue Norrh • Plymourli, MN 55446-3250 Phone: (763) 550-9525 • Fax: (763) 551-0144 Owned by Plymouth Housing and Redevelopment Audiority Balance Sheet PLYMOUTH TOWNE SQUARE As Of July M, 2012 Ending Balance ASSETS Total CURRENTASSETS M I PETTY CASH 500 M I OPERATING ACCOUNT 66,279 M I SEC DEPOSIT CASH ACCOUNT 50,173 INVESTMENTS- WORKING CAPITAL FUND 767,531 INVESTMENTS- NEW DEBT SERVICE 3,406,638 ACCOUNTS REC-TENANTS 4,769 INTEREST RECEIVABLE 1,200 ACCOUNTS REC-OTHER 793 PREPAID PROPERTY INSURANCE 9,355 PREPAID OTHER 4,620 TOTAL CURRENT ASSETS 4,311,859 FIXED ASSETS LAND 459,247 SITE IMPROVEMENTS 111,390 BUILDING 5,767,619 BUILDING IMPROVEMENTS 301,779 FURN, FIXT & EQUIP -GENERAL 250,941 FURNITURE & FIXTURES - HOUSEKEEPING 6,696 COMPUTERSIOFFICE EQUIPMENT 13,060 ACCUMULATED DEPRECIATION 3,090,494} TOTAL FIXED ASSETS 3,822,237 NON-CURRENT ASSETS DEFFERED CHG-BOND ISS COST 2011A 34,987 DEFERRED CHG - ORIG ISS COSTS 15,594 DEFERRED CHG - BOND ISS COSTS 20,298 TOTAL NON-CURRENT ASSETS TOTAL ASSETS 70,879 8,204,975 Balance Sheet PLYMOUTH TONE SQUARE As Of July 31, 2012 LONG-TERM LIABILITIES Ending Balance Total LIABILITIES 49,875 CURRENT LIABILITIES 3,285,000 ACCOUNTS PAYABLE -TRADE 28,319 ACCRUED PAYROLL 3,369 ACCRUED COMPENSATED BALANCES 1,673 ACCRUED INTEREST 45,468 ACCRUED REAL ESTATE TAXES 18,026 ACCRUED OTHER 1,033 TOTAL CURRENT LIABILITIES 97.908 LONG-TERM LIABILITIES SECURITY DEPOSITS 49,875 BONDS PAYABLE 3,285,000 BONDS PAYABLE - SERIES 2011A 3,165,000 BOND DISCOUNT 27,758) BOND PREMIUM 74,243 TOTAL LIABILITIES EQUITY RETAINED EARNINGS RSRVD FOR DS RETAINED EARNINGS TOTAL EQUITY CURRENT YEAR INCOME!(LOSS) TOTAL LIABILITIES & EQUITY 6,546,361 6,644,269 3,275,369 1,653,376) 1,621,993 61,287) 8,204,976 Profit and Loss Variance PLYMOUTH TOWNE SQUARE Through July 31, 2012 NTD Actual Budget Var. YTD Actual Budget Var. Year Budget INCOME APARTMENT RENTAL REVENUE 52,619 59,656 1,963 372,556 354,592 17,964 807,872 HRA INDIVIDUAL 18,000 18,000 0 126,000 126,000 0 216,000 GARAGERENT 2,710 2,880 1170) 19,835 20,160 325) 34,560 GUEST ROOM REVENUE 200 200 0 1,000 1,400 400) 2,400 LAUNDRYREVENUE 793 780 13 5,883 5,460 423 9,360 APPLICATION FEE REVENUE 35 53 1B) 2B0 371 91) 635 TRANSFER FEE REVENUE 0 0 0 0 500 590) 500 INVESTMENT INCOME 304 300 4 4,933 2,100 2,633 3,600 MISCELLANEOUS REVENUE 325 130 195 1,951 910 1,941 1,560 TOTALINCOME 74,987 72,999 1,988 532,438 511,493 20,945 876,468 EXPENSES ADMINISTRATION MANAGER SALARIESNVAGES 3,662 3,563 79) 25,162 25,081 81) 42,996 PAYROLL TAXES 631 643 12 4,761 4,501 280) 7,716 HEALTH INSURANCE 479 558 70 3,246 3,906 658 6,696 WORKERS COMP INSURANCE 154 193 39 1,146 1,351 205 2,316 MAINTENANCE SALARIESANAGES 1,571 1,483 BB) 10,641 10,381 266) 17,796 MAINTENANCE ASST SALARIESINAGES 945 780 165) 6,162 5,460 702) 9,360 EMPLOYEECOSTS 45 51 6 338 357 20 612 SEMINAR/TRAINING 0 21 21 60 147 87 252 BANK FEES 0 7 7 25) 49 74 84 DUES, SUBS S MEMBERSHIPS 0 0 0 55 50 5) 110 LICENSE 8 PERMITS 0 0 0 0 0 0 8R4 MILEAGE REIMBURSEMENT 73 50 23) CUR 350 339) 600 POSTAGEIOVERNIGHT EXPRESS 50 11 39) 76 77 1 132 PRINTING 0 12 12 0 04 84 144 MANAGEMENT FEES 4,400 4,400 0 30,800 30,809 0 52,800 PROFESSIONAL FEES 0 300 300 595 2,100 1,505 3,606 TELEPHONE EXPENSE 457 453 4) 3,183 3,171 12) 5,436 EQUIPMENT LEASOREPA1R 244 155 69) 732 1,085 353 1,880 OFFICE SUPPLIES 64 95 31 377 665 288 1,140 MISCELLANEOUS ADMIN EXPENSE 0 10 10 0 70 70 120 TOTAL ADMIN EXPENSES 12,775 12,805 30 B8,926 89,685 1,659 154,664 RESIDENT SERVICES RESIDENT PROGRAMIACTIVITIES 171 225 54 3,075 1,575 1,500) 4,075 TOTAL RES SERV EXPENSES 171 225 54 3,075 1,575 1,509) 4,075 MARKETING ADVERTISING 0 15 15 0 105 105 180 TOTAL MARKETING EXPENSES 0 15 15 0 105 105 180 HOUSEKEEPING CONTRACT LABOR 1,464 1,420 44) 9,825 9,940 116 17,040 CLEANING SUPPLIES 278 200 78) 906 1,400 494 2,400 TOTAL HOUSEKEEPING EXPENSES 1,742 1,620 122) 10,730 11,340 610 19,440 Profit and Loss Variance PLYMOUTH TOWNE SQUARE Through July 31, 2012 MT(] Actual Budget Var. YTD Actual Budget Var. Year Budget BUILDING & GROUNDS CABLE IV EXPENSE 56 61 5 3B7 427 40 732 UTILITIES -ELECTRICITY 2,540 2,500 40) 13,687 14,650 963 24,900 UTILITIES - GAS 423 500 77 9,968 15,825 5,857 24,525 UTILITIES -WATEWSEWER 674 970 95 4,997 4,860 137) 8,400 WATER SOFTENING SERVICE 194 297 103 2,271 2,079 1 D2) 3,564 DOORS, KEYS & WINDOWS 342 420 76 3,189 2,940 249) 5,040 FIRE SYSTEM SERVICE 756 430 328) 2,002 3,010 1,008 5,160 LAWN 6ERVICEILANDSCAPISNOWFIMVL 858 1,775 917 8,342 12,425 4,063 21,300 PEST CONTROL 0 0 0 283 330 47 660 TRASH REMOVAL 647 720 73 4,460 5,040 580 8,640 UNIT TURNOVER REPAIRS 2,933 3,733 800 24,802 26,131 1,329 44,796 RESERVCJREPLACE CAPITAL EXPENSE 4,995 0 4,995) 143,711 162,410 18,699 171,910 ELEVATOR -REPAIRS & MAINTENANCE 479 650 171 3,354 4,550 1.196 7,800 REPAIRS & MAINTENANCE 4,827 2,250 2,577) 29,197 20,150 8,047) 28,525 BUILDING & GROUNDS SUPPLIES 254 915 661 19,699 6,405 13,294) 10,980 HVAC - REPAIRS & MAINTENANCE 218 700 402 12,750 4,900 7,850) 8,400 MISCELLANEOUS B & G EXPENSES 0 15 15 0 105 105 180 TOTAL BUILDING & GROUNDS 20,398 15,936 4,462) 283,097 286,237 3,14D 375,512 OTHER OPERATING EXPENSES PROPERTY LIABILITY INSURANCE 2,187 2,387 200 16,540 16,769 169 28,644 PAYMENT IN LIEU Or PROPERTY TAX 2,575 2,500 75) 16,026 17,500 526) 3D,000 TOTAL OTHER OPERATING EXPENSES 4,763 4,887 124 34,565 34,209 356) 58,644 TOTAL OPERATING EXPENSES 39,848 35,488 4,360) 419,493 423,151 3,658 612,515 NET OPERATING INCOME I( LOSS) 35,138 37,511 2,373) 112,945 68,342 24,603 263,973 DEPREC, INTEREST & OTHER EXPENSE DEPRECIATION EXPENSE 16,450 10258 192) 115,148 113,806 1,342) 195,096 AMORT17ATION EXPENSE 465 475 1D 3,256 3,325 69 5,700 INTEREST EXPENSE 11,367 11,357 0 55,829 79,569 23,740 136,404 TOTAL DEPREC, INTEREST & OTHER 28,282 28,106 102) 174,232 196,700 22,468 337,2130 NET INCOME I (LOSS) 6,856 9,411 2,555) 61,297) 108,358) 47,071 73,227) ta ww E9 w a w w w lw w w W X Z N w o} w a w ~ N w Z j a 2 K == n ¢ 5 W U, Zi w z }a} _w ¢ rc w 'u5 a z v K z x Z W w W 2 S V N m N F w W 4 W WawWs- w v z g u~ rc w z x N W W z w z w U h ¢z¢ w N w N z w z w x w W v Lu w K w Y 7 F} w p W OW? 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O f o w K q g V W r w z Z y }a LL a w ul W N o w, 4 F Z w V Z= W Q? g N z u~i ? N Z g Y r r O Z N r 4 LL a a rwj ¢ W o Q w z Q O a w¢, a 7 N a W a s a c¢ w a n o¢ rc w o LL 0 W pO co p 0 a x E9 g a? m o a m a x x w m m o a a r w a r r = o r x awN N w2 W 2 Z z N w q w P W N as OW z w zz zZs z cowaww - w o h r a w a w a w a F W w 3 rc a ry H i G7 na V O w uwi m w 0 o a m a u ¢ o c S O Z W w O ,6 w z z I w 3 W g ¢~ z r m n 0 z ~ u' z VLLJ O a W 2 z y V O j a uo1 3 N O W w F z WWLr z z a d' O W W LR w W j o w a j W ° z F F r° W W m h N h x u~i w p Q 7 ul p `° c1 ¢ m O¢ i 0 a 4d z g w Ot^ w w w F F F lj4 0 }' ui z h ?v a¢ i 0>~ OJ p a C O m o 3 o g r rc ui rc m r o a a u w w ¢ z r w r z o z m V O F O H ri N au S N a rl Oi N ti N_ a m r N w O o 0 0 0 0 0 0 0 0 0 o p o 0 0 o p o o O O O o 0 o O O M a 0 N O 0 NC o 0 0 0 0 0 0 0 0 0 9 0 0 o A o- o o p p p o 0 o p p 41a 'az Lt o a 7G0 CW O O a v W o a n' o p o 0 0 0 0 0 0 o p o o p o o p o o p p p o p o p p a w n ry W n q m o m^ m a m m m N n r N a N 0 M a N ry v e N ry N y ni M n m a 141 W at mo n a W N o n n vai a m ~ N h T P M p m m ti N a W m ti m .- W m •`- m v rv m v a v p Nairy M m .. a V N N Y m M m O+ Hm h N WN n Q WM N LL ry n awN N w2 W 2 Z z N w q w P W N as OW z w zz zZs z cowaww - w o h r a w a w a w a F W w 3 rc a ry H i G7 na V O w uwi m w 0 o a m a u ¢ o c S O Z W w O ,6 w z z I w 3 W g ¢~ z r m n 0 z ~ u' z VLLJ O a W 2 z y V O j a uo1 3 N O W w F z WWLr z z a d' O W W LR w W j o w a j W ° z F F r° W W m h N h x u~i w p Q 7 ul p `° c1 ¢ m O¢ i 0 a 4d z g w Ot^ w w w F F F lj4 0 }' ui z h ?v a¢ i 0>~ OJ p a C O m o 3 o g r rc ui rc m r o a a u w w ¢ z r w r z o z Balance Sheet PLYMOUTH TOWNE SQUARE As Of August 31, 2012 Ending Balance Total ASSETS CURRENT ASSETS M I PETTY CASH 500 M I OPERATING ACCOUNT 56,888 M I SEC DEPOSIT CASH ACCOUNT 50,790 INVESTMENTS - WORKING CAPITAL FUND 774,531 INVESTMENTS - NEW DEBT SERVICE 3,434,769 ACCOUNTS REC-TENANTS 4,807 INTEREST RECEIVABLE 1,500 ACCOUNTS RFG-OTHER 864 PREPAID PROPERTY INSURANCE 21,825 PREPAID OTHER 4,093 TOTAL CURRENT ASSETS 4,350,568 FIXED ASSETS LAND 459,247 SITE IMPROVEMENTS 111,390 BUILDING 5,767,619 BUILDING IMPROVEMENTS 301,779 FURN, FIXT& EQUIP -GENERAL 250,941 FURNITURE & FIXTURES - HOUSEKEEPING 8,696 CQMPUTERSIOFFICE EQUIPMENT 13,060 ACCUMULATED DEPRECIATION 3,106,944) TOTAL FIXED ASSETS 3,805,787 NON-CURRENT ASSETS DEFFERED CHG-BOND ISS COST 2011A 34,987 DEFERRED CHG- ORIG ISS COSTS 15,447 DEFERRED CHG - BOND ISS COSTS 20,182 TOTAL NON-CURRENT ASSETS 70,616 TOTAL ASSETS 8,226,971 Balance Sheet PLYMOUTH TOWNE SQUARE 50,488 As Of August 31, 2012 3,285,000 BONDS PAYABLE - SERIES 2011A Ending Balance Total LIABILITIES 27,555) CURRENT LIABILITIES 74,243 ACCOUNTS PAYABLE -TRADE 24,276 ACCRUED PAYROLL 983 ACCRUED COMPENSATED BALANCES 1,673 ACCRUED INTEREST 56,635 ACCRUED REAL ESTATE TAXES 20,601 ACCRUED OTHER 606 TOTAL CURRENT LIABILITIES 104,974 LONG-TERM LIABILITIES SECURITY DEPOSITS 50,488 BONDS PAYABLE 3,285,000 BONDS PAYABLE - SERIES 2011A 3,165,000 BOND DISCOUNT 27,555) BOND PREMIUM 74,243 TOTAL LIABILITIES EQUITY RETAINED EARNINGS RSRVD FOR DS RETAINED EARNINGS TOTAL EQUITY CURRENT YEAR INCOMEI(LOSS) TOTAL LIABILITIES & EQUITY 6,547,177 6,662,150 3,275,369 1,653,376) 1,621,993 47,172) 8,226,971 Profit and Loss Variance PLYMOUTH TOWNS SQUARE Through August 31, 2012 MTD Actual Budget Var. YTD Actual Budget Var, Year Budget INCOME APARTMENT RENTAL REVENUE 52,540 50,056 1,884 425.096 405,248 19,848 607,872 HRAINDIVIDUAL 18,000 18,000 0 144,000 144,000 0 216,000 GARAGE RENT 2,848 2,880 32) 22.683 23,040 357) 34,560 GUEST ROOM REVENUE 200 200 0 1,200 1,600 400) 2,400 LAUNDRYREVENUE 064 780 84 6,747 6,240 507 9,360 APPLICATION FEE REVENUE 0 53 53) 280 424 1441 63G TRANSFER FEE REVENUE 0 0 0 0 500 500) 509 INVESTMENT INCOME 304 300 4 5,237 2,400 2,637 3,600 MISCELLANEOUS REVENUE 35 130 95) 1,986 1,040 946 1,560 TOTAL INCOME 74,791 72,999 1,792 607,230 584,492 22,738 876,488 EXPENSES ADMINISTRATION MANAGER SALARIESMAGES 3,497 3,503 85 28,659 26,664 5 42,996 PAYROLLTAXES 876 643 233) 5,657 5,144 513) 7,716 HEALTH INSURANCE 424 558 134 3,672 4,484 192 6,696 WORKERS COMP INSURANCE 224 193 31) 1,370 1,544 174 2,316 MAINTENANCE SALARIEWAGES 1,517 1,483 34) 12,164 11,864 300) 17,795 MAINTENANCE ASST SALARIESAAPGES 875 780 95) 7,036 6,240 796) 9,360 EMPLOYEECOSTS fib 51 17) 405 408 3 612 SEMINAR/TRAINING 0 21 21 60 168 108 252 BANK FEES 0 7 7 25) 56 81 64 DUES, SUSS & MEMBERSHIPS 0 0 0 55 50 5) 110 LICENSE & PERMITS 894 894 0 894 894 0 894 MILEAGE REIMBURSEMENT 83 50 33) 772 400 372) 600 POSTAGEOOVERNIGHT EXPRESS 5 11 6 81 88 7 152 PRINTING 0 12 12 D 96 96 144 MANAGEMENTFEES 4,400 4,400 0 35,266 35,200 0 52,800 PROFESSIONAL FEES 0 300 300 595 2,400 1,805 3,600 TELEPHONE EXPENSE 471 453 18) 3.654 3.624 30) 5,436 EQUIPMENT LEASEIREPAIR 0 155 155 732 1,240 508 1,860 OFFICESUPPLIES 60 95 35 438 760 322 1,140 MISCELLANEOUS ADMIN EXPENSE 0 10 10 0 80 80 120 TOTAL ADMIN EXPENSES 13,394 13,699 305 101,420 103,384 1,964 154,664 RESIDENT SERVICES RESIDENT PROGRAhVACTiVITfES 612 225 387) 3,687 1,800 1,687) 4,075 TOTAL RES SERV EXPENSES 612 225 387) 3,687 1,800 1,887) 4,076 MARKETING ADVERTISING 0 15 15 0 120 120 1e0 TOTAL MARKETING EXPENSES D 15 15 0 120 12D 180 HOUSEKEEPING CONTRACTLABOR 1,394 1,420 27 11,218 11,360 142 17,040 CLEANING SUPPLIES 29 20D 171 935 1,600 655 2,400 TOTAL HOUSEKEEPING EXPENSES 1,422 1,620 198 12,153 12,960 807 19,440 Profit and Loss Variance PLYMOUTH TC WNW SQUARE Through August 31, 2012 BUILDING & GROUNDS CABLE TV EXPENSE UTILITIES - ELECTRICITY UTILITIES - GAS UTILITIES - WATEWSEWER WATER SOFTENING SERVICE DOORS, KEYS & WINDOWS FIRE SYSTEM SERVICE LAWN SERVICElLANDSCAPlSNOW RMVL PESTCONTROL TRASH REMOVAL UNIT TURNOVER REPAIRS RESERVElREPLACE CAPITAL EXPENSE ELEVATOR -REPAIRS & MAINTENANCE REPAIRS 8 MAINTENANCE BUILDING & GROUNDS SUPPLIES HVAC - REPAIRS & MAINTENANCE MISCELLANEOUS B & G EXPENSES TOTAL BUILDING & GROUNDS OTHER OPERATING EXPENSES PROPERTY & LIABILITY INSURANCE PAYMENT IN LIEU OF PROPERTY TAX TOTAL OTHER OPERATING EXPENSES TOTAL OPERATING EXPENSES NET OPERATING INCOME ( LOSS) DEPREC, INTEREST & OTHER EXPENSE DEPRECIATION EXPENSE AMORTIZATION EXPENSE INTEREST EXPENSE TOTAL DEPREC, INTEREST & OTHER NET INCOME I (LOSS) MTD Actual Budget Var. YTD Actual Budget Var. Year Budget 56 61 5 442 488 46 732 2,381 2,300 81) 16,068 16,950 882 24,900 421 500 79 10,389 16,325 5,936 24,525 961 970 9 5,958 5,830 128) 8,400 401 297 104) 2,672 2,376 290) 3,564 0 420 420 3,189 3,360 171 5,040 1,432 430 1,002} 3,434 3,440 6 6,160 850 1,775 917 9,200 14,200 5,000 21,306 0 0 0 203 330 47 660 809 720 89) 5,266 5,760 492 8,640 0 3,733 3,733 24,802 29,864 5,062 44,796 1,099 7,000 5,901 144,810 169,410 24,600 171,910 479 650 171 3.833 5,200 1,367 7,800 2,326 1,675 653} 31,524 21,825 9699) 28,525 539 915 376 20,238 7,320 12,918) 10,966 218 700 482 12,968 5,600 71368) 8,400 0 15 15 0 120 120 180 11,981 22,161 10,180 295,678 308,398 13,320 375,512 2,409 2,387 22) 16,949 19,096 147 26,644 2,575 2,500 75) 20,601 20,000 601) 30,000 4,984 4,887 97) 39,550 39,096 454} 58,644 32,394 42,607 10,213 451,887 465,758 13,871 612,515 42,397 30,392 12,005 155,342 118,734 35,508 263,973 16,450 16,256 192) 131,598 130,064 1,534) 195,096 465 475 10 3,721 3,800 79 5,700 11,367 11,357 0 67,196 90,936 23,740 136,404 28,282 28,100 182) 202,514 224,800 22,286 337,200 14,115 2,292 11,823 47,172) 106,066) 58,894 73,227) to co J a c ILL D CY LLI F- V N 49 w N 4 Z W W W W S W a w W m Wm4Zwwwz4 r a rc z w j Z Z 4 4 m g N W w a z U a Z 2 W y w m m W m h'w Lua w W F w o rc z m y L7 w F w w w 17i W a rc w Y r z, WW 3 z x W ¢ z w a o z w 4 1xu i.'W' °m a W 1- w 0 0 2 W f a¢ Q DU Z 2 ` z N d m o w o w ¢ p "' 4 W a g o W g J z IW y awry r W W w y LL N w Sw7 N w 2 w`i W 2 z W U z JW170,00" Z J z J x r r z, w z F l9 o. Sl¢ 2100 z G P a a N G w s a n 4 g g vi m V a a w l` F m m o K¢ _ a w Q o u o 0rwK = r' r 11 v N Ir, is a N nry a m Y a 6 8 p p p 4 6 6 0 p p p p p p p 4 4 p p P p P p p p n 0 p O n p 0 w ONa M a a n c o 0 o p p p o 0 o p p p p p p p p p p p p p o o p p p o p o p p o r W o a ry a o ma $ z a ry o 0 0 0 0 0 0 o O a o 0 0 0 0 0 o t7 t7 0 0 0 o a fl o o O o O o o O WC O a ry o rN CL uO a ryCr 0 0 0 0 0 0 0 0 o p p p p o o. p p o o p p p p. p o p o p p 0 Wo a ry 0 0 d m a to a N N c N m N N a n A ti n I'v ryry" m o p p b Q n Q m M d m Q a N o t n n n m O p a W d m Q O a NW N N m Ip' ti d N o - A 4 p ry udi p p N p r d o» ul N O Nd n A n N n p N a a o w a A r a W N o o W ry f Y» Irmryl d ul O oN0 d a m w N 4 Z W W W W S W a w W m Wm4Zwwwz4 r a rc z w j Z Z 4 4 m g N W w a z U a Z 2 W y w m m W m h'w Lua w W F w o rc z m y L7 w F w w w 17i W a rc w Y r z, WW 3 z x W ¢ z w a o z w 4 1xu i.'W' °m a W 1- w 0 0 2 W f a¢ Q DU Z 2 ` z N d m o w o w ¢ p "' 4 W a g o W g J z IW y awry r W W w y LL N w Sw7 N w 2 w`i W 2 z W U z JW170,00" Z J z J x r r z, w z F l9 o. Sl¢ 2100 z G P a a N G w s a n 4 g g vi m V a a w l` F m m o K¢ _ a w Q o u o 0rwK = r' r 11 LU cc y w $ z z = w rJ W Tu w Q N w u W N 6 mUzwf/ C w Z LL] W 7¢ Z y •J IrLU SIJ W 5 h a r¢ w a w y a F W W m owc Zw 3 rc a g z U' W a a O m uwi yJ GI m 0 0 0 a u ^S 4 Q etl Ur a W U a W w ? a W rc W 0 z 5 z W, w rc w z g W z -' O U' Z ma. a w uJ F W m N o w w z 0 o m w W F C7 _ w w u 3 o w Q z w z a Q m ro w m a= O I-- a o n f w a aLe a u r w a r a w owc rc oc c i c¢i S S o g d¢ rc w rc m= F- a s F- a o ¢ Z I- F- Jp O W W W r z z N m m m ui N` n N v h V H ma r a N o o r y 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 rJ a N ur7 0 a `Y o 0 0 0 0 0 o a p o o p o p p o o Q a o 0 o a a a o aa z ry o 0 0 0 0 0 0 0 o p p p a C p p 0 P a o D D o o a 0 W N a TiO N Cw o v N m o 0 o m o 0 0 o b 6 6 8 6 6 O 6 6 d O O 6 0 6 0 ma v a n W o ry n m y m N Q N r N [V O v r C n N H a N CW ry Nm m o ^ ro N Ind .- n m N M O ry N c a n N a — 0. a d m CI d a No a m n 1!I O a `o ow` M N w a m OI IG 1 ill N D NvVmM Q N 0 n a LL w H on m O o m N m p m a LU cc y w $ z z = w rJ W Tu w Q N w u W N 6 mUzwf/ C w Z LL] W 7¢ Z y •J IrLU SIJ W 5 h a r¢ w a w y a F W W m owc Zw 3 rc a g z U' W a a O m uwi yJ GI m 0 0 0 a u ^S 4 Q etl Ur a W U a W w ? a W rc W 0 z 5 z W, w rc w z g W z -' O U' Z ma. a w uJ F W m N o w w z 0 o m w W F C7 _ w w u 3 o w Q z w z a Q m ro w m a= O I-- a o n f w a aLe a u r w a r a w owc rc oc c i c¢i S S o g d¢ rc w rc m= F- a s F- a o ¢ Z I- F- Jp O W W W r z z AUGUST BIRTHDAYS Happy Birthday to the following residents who are celebrating birthdays this month! DAVID MCINDOO 3 YURI KOLTUNOV 6 OLGA MYSKIV 6 RAISA SCOBOVA 6 SARA DZEM IAN I U K 8 JUNE KARLSON 10 MARY OLSON 10 ANN WHALEN 10 RAY MILFORD 23 HARMON TRACY 24 DELORES JOHNSON 25 KHASYA PLOTKIN 26 WI LMA SMITH 27 NANCY KETTNER 31 New resident Eleanor Parry in apartment 309. We are very happy to have you! NIGHT TO UNITE Tuesday, August 7th, Dickey's BBQ dinner begins at 6pm. Entertainment with After 5 at 7pm. Tickets on sale August 1st & 2nd 10-12noon. Residents $6.00 Guests $12.00. PTS BREAKFAST Will be held August 18#" from 8;30-10am. French Toast will be served. Volunteers needed. I POTLUCK DINNER Please join for weekly potlucks on Wednesday evenings beginning at 5pm. SEPTEMBER BIRTHDAYS Happy Birthday to the following residents who are celebrating birthdays this month! ANNE CROOKS BETTY CONWAY HELEN RITTER HERBERT ANDERSON ROBERT WOLLMAN FERN BLAIR 1 3 3 14 14 19 20 22 23 25 25 26 PTS BREAKFAST Will be held September 29th from 8:30-10am. Please sign up to volunteer. POTLUCKS Will be held through September on Wednesdays at 5pm. Get ready for a costume contest at our Halloween Party Oct. 31 st! There will be cash prizes for 1 st, 2nd and 3rd place. "CODA" will be entertaining with the sax and keyboard. REMINDERS* The building and grounds are smoke free. Please remind your family and friends that they are not allowed to smoke anywhere on the property. This includes the parking lot. All smokers must go off the property to smoke. Please do not remove chairs from the porch or picnic area for personal use. Outdoor furniture is to remain on site. No furniture, mattresses or electronics are allowed to be put in the trash. Residents are responsible to transport these items to the recycling center. Please close your apartment door gently. A complaint of slamming doors has been received. CO) LL CN Nq, C O 2 LO n aYLOLL E U W Z L o oar Co o Macrrroo N L L L L L U U U U U E m m m m C) oC) t J m M r CIO N OO M co o tp ZR O U O U O U O m U C 0 O U C: 0 C o o C M C N CU 0 M C 0 M O C 9 C D C N C N C am m in aa m am E E E aio E E CL CL CL U a a 0 0 0 0 0 0 0 0 0 0 0 M O M O to M D m co (O m O o M O N O) I- 0) Q7 ti r CF) ti N CA r a ti J O) 1- L L L L L U Y U U U Y U Y F 2 F- 4 H v H v H E m cn CL m #' mo mcia° moCLm0a° a° 0 0 r= o o E C) C) E C) C) E C) C) E co 0 a M O a uo M C7 Q N M O a D M C7 a T CO T Ui CO COT LO r CO T LO N OD T b N CO T ui DN N N A q a @ N NN NN a C O U O C U U O RUUAUcvu] U U C U m CO 0 LOCiNLN¢ Q N y C C CU-) ll t0 Cl) Q aQo 0 m_ ca O E 0 ca - Z 00 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 M 0 0 D M N C7 0 T O M O O 00 p C? N (7 0 1 O) m co CO T 0) 0) r M (D N m m co D N 0) 0) r Cl) (O N E i Lo N N U N U 7 0 U 7 O U O U 7 O Y C_. C 0 C F- o f di o v ED o v m F- o v co 1--L E o q E E o Q E E o am E E o E m D a m T D a m T 0 a m T D a o a o 0 0 0 0 0 0 0 0 0 0 0 0 0 C'M C'M C'M O M M M M O O M M M O M M M O CO CO 0 ti T CO CF) ti N CO 0 ti N CO Dl ti N O) O 1() T T N 0 L: 3 r r_ co J Q J Y rs eq av LU LUorZM O Q m M V ~ co co r co r N N d Q} c! t c o 3 `4- o U U U U , m ra'e co co m C t0 0 0 0 0 o y y 00 r CO N 00 N CO r W rd 0- t U O U 4T O U O m C U o C OCD O C cn C O CD C C. N mC 2 m m a m 0 Nrb E N n a M N a U M OC? O Q ca cO CF) ti r 0) N C N S T U YL) x U U x Co M Co E m o E m o E M o E c o m U a m U a m U a m U a C:) o em. a Q aC. N O C. m V) to ? 9. 00 T W) r CO W r COOO T U) N COOO T LO Q) O a U d a) a vi V_ O U z L? C) O U Z, U a v 80 Z UUmC) a U R (n C C Q y L y lI]¢ C C LO U Q y N r.(T mCD CD E a aJ ap2 0 0 0 0 0 0 0 0 0 0 0 0 0 LL 0 0 0 C) 0 O CO O O r 0 Cl) N O Cl co Cl CO 0 Cl Ln O m N O 9mcorofof — m CD r m ai Cl) (D N of aiII M 0 L L L a) a) UCU 0 0 U 7 O O C} 0 0 C} 7 0 0 p[ c 0 c 0 C cs c F' M R m H M Q m H M Q m H M a—)m E c) m E E o Q E E o E E o Q E m T Q m r a m r a m r Q 0 0 0 0 O O O O CJ C7 CJ CJ O O C7 0 m m c7) O O co M M O c') co co 0 t co co c') Q M OO a) r ti r 00 m r ti r CO 0) r [- N CO 0) r [,- cc C) O N m r N M PLYMOUTH TOWNE SQUARE MEMORANDUM To: Jim Barnes From: Sara Paquette, Interim Managing Director, Plymouth Towne Square Date: October 15, 2012 Re: PTS Monthly Report for September 2012 October Newsletter and Calendar attached Occupancy/Marketing No one moved in the building. Currently there are 135 names on the one bedroom wait list and 26 names on the two bedroom wait list. We have one notice to vacate on September 30th. A resident currently in a 2 bedroom apartment will be transferring to the apartment which is a 1 bedroom. On November 1 St we will have a 2 bedroom available. Administrative/Building Operations We are currently interviewing prospective managers for the Plymouth Towne Square position. We have several candidates with good experience and plan to have the position filled soon. We had all the common area carpet cleaned on Monday, September 24th and Tuesday, September 25th. We have scheduled cement work to be done in October. This includes the front sidewalks, the columns in front and some work around the drains in the underground parking garage. Some of the sidewalks in front will need to be replaced and some can be raised. Resident Services We had good turnout for our flu shot clinic this month, on September 25th. Cheryl from Energy Assistance was here on September 28th to explain the program to residents. The monthly birthday celebration was held on Thursday, September 27th. We had cake and ice cream. 15500 37th Avenue North • Plymouth, MN 55446-3250 Phone: (763) 550-9525 • Fax: (763) 551-0144 Owned by Hymnuth Hensing and Redevelopment Audiocity Balance Sheet PLYMOUTH TOWNE SQUARE As 4f September 30, 2012 Ending Balance ASSETS Total CURRENT ASSETS M I PETTY CASH 500 M I OPERATING ACCOUNT 56,767 M I SEC DEPOSIT CASH ACCOUNT 50,517 INVESTMENTS - WORKING CAPITAL FUND 782,384 INVESTMENTS - NEW DEBT SERVICE 3,188,478 ACCOUNTS REG -TENANTS 3,802 INTEREST RECEIVABLE 900 ACCOUNTS REC-OTHER 720 PREPAID PROPERTY INSURANCE 19,416 PREPAID OTHER 4,647 TOTAL CURRENT ASSETS 08,1314J08,131 FIXED ASSETS LAND 459,247 SITE IMPROVEMENTS 111,390 BUILDING 5,767,619 BUILDING IMPROVEMENTS 301,779 FURN, FIXT & EOUIP-GENERAL 250,941 FURNITURE & FIXTURES - HOUSEKEEPING 8,696 COMPUTER SIOFFICE EQUIPMENT 13,060 ACCUMULATED DEPRECIATION 3,123,393) TOTAL FIXED ASSETS 3,789,337 NON-CURRENT ASSETS DEFFERED CHG-BOND ISS COST 2011A 34,987 DEFERRED CHG - ORIG ISS COSTS 15,300 DEFERRED CHG - BOND ISS COSTS 20,067 TOTAL NON-CURRENT ASSETS TOTAL ASSETS 70,354 7,967,823 Balance Sheet PLYMOUTH TOWNE SQUARE 50,671 As Of September 30, 2012 3,075,000 BONDS PAYABLE - SERIES 2011A Ending Balance Total LIABILITIES 27,352) CURRENT LIABILITIES 74,243 ACCOUNTS PAYABLE -TRADE 14,275 ACCRUED PAYROLL 629 ACCRUED COMPENSATED BALANCES 1,673 ACCRUED INTEREST 66,202 ACCRUED REAL ESTATE TAXES 23,176 ACCRUED OTHER 17,974 TOTAL CURRENT LIABILITIES 125,929 LONG-TERM LIABILITIES SECURITY DEPOSITS 50,671 BONDS PAYABLE 3,075,000 BONDS PAYABLE - SERIES 2011A 3,165,000 BOND DISCOUNT 27,352) BOND PREMIUM 74,243 TOTAL LIABILITIES EQUITY RETAINED EARNINGS RSRVD FOR DS RETAINED EARNINGS TOTAL EQUITY CURRENT YEAR INCOME/(LOSS) TOTAL LIABILITIES & EQUITY 3,275, 369 1,653,376) 6,337,562 6,463,492 1,621,993 117,662) 7,967,823 Profit and Loss Variance PLYMOUTH TOWNS SQUARE Through September 30, 2012 MTD Actual Budget Var. YTD Actual Budget Var, Year Budget INCOME APARTMENT RENTAL REVENUE 52,840 50,656 2,1 B4 477.936 455,904 22,032 607,872 HRA INDIVIDUAL 18,000 18,000 0 162,000 162,000 0 216,000 GARAGERENT 2,835 2,880 45) 25,518 25,920 402) 34,560 GUEST ROOM REVENUE 0 20D 200) 1,200 1,800 600) 2,40D LAUNDRY REVENUE 720 78D 60) 7,467 7,020 447 9,380 APPLICATION FEE REVENUE 0 53 53) 280 477 187) 636 TRANSFER FEE REVENUE 0 0 0 0 500 500) 500 INVESTMENT INCOME 4,035 300 3,735 9,272 2,700 6,572 3,500 MISCELLANEOUS REVENUE 0 130 130) 1,986 1,170 816 1,560 TOTALINCOME 78,430 72,999 5,431 685,659 657,491 28,168 876,488 EXPENSES ADMINISTRATION MANAGER SALARIESIWAGFS 725 3,563 2,858 29,385 32,247 2,862 42,996 PAYROLL TAXES 339 643 305 5,995 5,787 208) 7,716 HEALTH INSURANCE 478 55B 80 4,150 5,022 872 6,696 WORKERSCOMP INSURANCE 105 193 88 1,475 1,737 262 2,316 MAINTENANCE SALAMESAMIGES 1,465 1,483 18 13.629 13,347 282) 17,798 MAINTENANCEASST SALARIESAMIGES 887 780 107) 7,823 7,020 903) 9,360 EMPLOYEE COSTS 45 51 6 450 459 9 612 SEMINARITRAINING 0 21 21 60 189 129 252 BANK FEES 0 7 7 25) 63 88 84 DUES, SUBS & MEMBERSHIPS D 0 0 55 50 5) 110 LICENSE & PERMITS 0 0 0 894 894 0 894 MILEAGE REIMBURSEMENT 55 50 5) 827 450 377) 600 POSTAGE[OVERNIGHT EXPRESS 0 11 11 81 99 18 132 PRINTING 0 12 12 0 108 108 144 MANAGEMENT FEES 4,400 4,40D 0 39,600 39,600 0 52,800 PROFESSIONAL FEES 0 300 30D 595 2,700 2,105 3,600 TELEPHONE EXPENSE 471 453 18) 4,425 4,077 48) 5,436 EQUIPMENT LEASFIRFPAIR 0 155 155 732 1,395 663 1,860 OFFICE SUPPLIES 0 95 95 438 855 417 1,140 MISCELLANEOUS ADMIN EXPENSE 0 10 10 0 90 90 120 TOTAL ADMIN EXPENSES 8,970 12,895 3,835 110,389 116,189 5,800 154,684 RESIDENT SERVICES RESIDENT PRO13RAWACTMTIES 37 225 188 3,723 2,025 1,698) 4,675 TOTAL RES SERV EXPENSES 37 225 18B 3,723 2,025 1,698) 4,075 MARKETING ADVERTISING 0 15 15 0 135 135 160 TOTAL MARKETING EXPENSES 0 15 15 0 135 135 180 HOUSEKEEPING CONTRACT LABOR 1.394 1,420 27 12,612 12,780 169 17,040 CLEANING SUPPLIES 0 200 200 935 1.BDD 865 2,400 TOTAL HOUSEKEEPING EXPENSES 1,394 1,629 227 13,546 14,580 1,034 19,440 Profit and Loss Variance PLYMOUTH TOWNE SQUARE Through September 30, 2012 MTD Actual Budget Var. YTD Actual Budget Var. Year Budget BUILDING & GROUNDS CABLE TV EXPENSE 58 51 5 498 549 51 732 UTILITIES -ELECTRICITY 2,746 2,300 446) 18,814 19,25D 436 24,900 UTILITIES - GAS 511 700 109 10,900 17,025 6,125 24,525 UTILITIES - WATER/SEWER 966 920 46) 6,925 6,760 175) 8,400 WATER SOFTENING SERVICE 241 297 56 2,913 2,873 240) 3,554 DOORS, KEYS & WINDOWS 0 420 420 3,189 3,780 591 5,040 FIRE SYSTEM SERVICE 90 430 340 3,524 3,870 346 5,160 LAWN SERVIMLANDSCAPlSNCW RMVL 1,813 1,775 39) 11,013 15,975 4,962 21,300 PEST CONTROL 142 165 23 425 495 70 660 TRASH REMDVAL 66D 720 61 5,928 6,480 552 8,640 UNIT TURNOVER REPAIRS 350 3,733 3,383 25,152 33,597 6,445 44,796 RESERVEfREPLACL CAPITAL EXPENSE 6,150 2,500 3,650) 15D,950 171,910 20,950 171,910 ELEVATOR -REPAIRS & MAINTENANCE 479 650 171 4,312 5,850 1,538 7,800 REPAIRS & MAINTENANCE 5,702 1,675 4,027) 37,226 23,500 13,726) 28,525 BUILDING & GROUNDS SUPPLIES 336 915 579 20,573 8,235 12,338) 10,980 HVAC- REPAIRS& MAINTENANCE 580 700 120 13,548 6,300 7,248) 8,400 MISCELLANEOUS B & G EXPENSES 0 15 15 0 135 135 180 TOTAL BUILDING & GROUNDS 20,821 17,976 2,846) 315,899 326,374 10,475 375,512 OTHER OPERATING EXPENSES PROPERTY & LIABILITY INSURANCE 2,409 2,387 122) 21,358 21,483 125 28.644 PAYMENT IN LIEU OF PROPERTY TAX 18,699 2,500 16,199) 39,300 22,500 16,800) 30,000 TOTAL OTHER OPERATING EXPENSES 21,108 4,887 16,221) 60,658 43,983 16,675) 58,644 TOTAL OPERATING EXPENSES 52,329 37,528 14,801) 504,216 503,286 930) 612,515 NET OPERATING INCOME! ( LOSS) 26,100 35,471 9,371) 191,443 154,205 27,236 263,973 DEPREC, INTEREST & OTHER EXPENSE DEPRECIATION EXPENSE 16,450 i6258 192) 148,048 146,322 1,726) 195,096 AMORTIZATION EXPENSE 465 475 10 4,186 4,275 B9 5,700 INTEREST EXPENSE 79,675 11,367 681308) 146,871 102,303 44,568) 136,404 TOTAL DEPREC, INTEREST & OTHER 96,590 28,100 68,490) 299,104 252,900 46,204) 337,200 NET INCOME/ (LOSS) 70,490) 7,371 77,861) 117,662) 98,695) 18,967) 73,227) WW E' Nza 7 m w¢ W W N F N z u a = z Z a z X 2 w w o- U4q z N N 0 w w W y¢ W w K rc j Y a r t '- Q W O LLN] 2 w w p Z K W LL q 111 W 7 O N [7 m a N w o rc o W z P 4 z Z w w m a rc o z z w z g `' O Z o w¢¢ g cs w m z z y LL w w w N a w w a rZ z a W v w x z W Z J N V J 2 z z r¢ K Z Z a X Z rvq F 4 LL a d LL¢ W¢ p R R 4 3 a N W 2 4 4 W P 4 Q f W m U W O Q w W W w 0 o J O ti x u g¢ a x rs w u a r a r = v e r a LU ° It C F Y ' m r 0 a m Y a N 6 6 0 0 0 0 0 0 p O O O G 6 0 6 G O G 6 G G 0 6 6 0 8 O o 0 W O a N a d CN o 0 0 o m o 0 0 0 0 o a o 0 0 o m o 0 o m o 0 o m o 0 0 0 0 0 0 0 W o a N O p m a $ z W o m ct a Ti0 W o O O r a N 6 1'l a o+ 4 W o O M d a a ry N Hn w o m Q Q N m wWO uri 4 r r a o r r a ry c m mCL a o d r a LU o r r a c.r o g N o N nvavaoaonv o o mxurvim a N LL N WW E' Nza 7 m w¢ W W N F N z u a = z Z a z X 2 w w o- U4q z N N 0 w w W y¢ W w K rc j Y a r t '- Q W O LLN] 2 w w p Z K W LL q 111 W 7 O N [7 m a N w o rc o W z P 4 z Z w w m a rc o z z w z g `' O Z o w¢¢ g cs w m z z y LL w w w N a w w a rZ z a W v w x z W Z J N V J 2 z z r¢ K Z Z a X Z rvq F 4 LL a d LL¢ W¢ p R R 4 3 a N W 2 4 4 W P 4 Q f W m U W O Q w W W w 0 o J O ti x u g¢ a x rs w u a r a r = v e r a d d < O N W m ty o m O W4O a N o 0 0 0 O 0 0 G O O o 0 0 o G o O O n r a 0 o o O O O o 0 0 0 v O cN W a 0 a WV a o p o 0 0 0 0 0 0 0 0 o g o o p b ON A o z ON Ti 4 0 0 0 0 0 0 0 0 0 O j m, y v a am IL a 4 W a 3 d C b W 7 N n » N m ry fO N N N O N ~ A p' m W O m A A V 7 N N N d Q 21 W N m w2 V PJ O _ •- •- m n m w1 » G tiA m2Q T 2dm A V 42 N - •- .- .- A N N 7 Ip N N a j O Q d M d N4 O W J w w ro dam o ` d m m m N n O c N v' 6L N' A N 00N pa C a A ui N yy/ LUN w W4 VI 0 2WLLI N o M.. w 3 W W o Z z w z LL, d r o a Z W W ti » a z d z 2 ZWNaC N zLU NN it1° rc 3 c °c a vi z qx o[ W a O H vWi 12 W u 4] O r LL a W U 0 a W W 2 UI7KW¢ F z z z J° O L7 Z N N Lj U za+ N W O W J W 4 0.AC O J W F Z y Z d O u } f7 w l7 W a' m n M 2WzF qqv[ F LLW1 y}j w " ' y p= i°¢ z WZ OJ n W qmj u a K N y h r a pJ w uyi LIJ p w O 3 r yOmjWVrlQ~ VWl a Q o> j o m g a rc w rc m r O Y~ a a J O W 6 0 W F W o amoow r z o z AVRAM MENDYUK 2 BETSY PALM 3 MARILYN BOS 5 ELEANOR NAPOLITAN 6 PETR MYSKIV 7 LEONA PETERSON 16 SHIRLEY SKAY 23 GEN MOORE 27 EVA TRACY 27 BILL LEACH 29 ELAYNE MCFARLAND 29 P. E Dear Residents, I would like to thank everyone for their patience and guidance these past few weeks. It has been very hectic for me managing two buildings and everyone has made my job easier by being very helpful. I am glad I had the chance to get to know the residents at Plymouth Towne Square. Thanks for everything! Sara Don't miss our Halloween party on Wednesday Oct. 31St at 1:00 in the dining room! There will be a costume contest at the party with cash prizes for 1st, 2nd and 3rd place. Now would be a good time to start planning for that perfect costume! "CODA" will be entertaining with the sax and keyboard. State Senator Terri Bonoff has requested permission to visit our building. She will be here on Thursday, October 11 th at 10:00 in the dining room. No matter how you vote or what your political preference this is a good opportunity to ask questions and address concerns. On Tuesday, October 30th from 11:00-11:30 Hennepin County Environmental Services will be at Plymouth Towne Square to collect unused medicine. This is a wonderful opportunity for you to safely dispose of medicines you no longer use. You cannot bring medicines down early and drop them off at the office; they must be given directly to the Sheriff. CN O CN 4-+ LL s H r Lc) UJ 13, J Y L? Q Q N 3 ItW O co tp r N N U U U U M m M ro C) o Q o m N c Qs [Y] to cn IQ 00 r CO r CO N co tF0 O O O O U O U O U O U O m m c o m a m fn a a m a) E E a) Ea) cn Z E It CL a af a Q U a C) C) C o otarsoa U U U U U H lu 3 N EEw E E E@ m R a ro U m U m U m U o M O O O O O Q O O M O O M d I- C? O M O0. r d M OO ^r- r CO r r CO CO r M r N N Na) O N>, N N D a) N O U) C b tf= L) 07 CiUCfjUm9) UCno U w0 U CO Q U] Q w w N N O Q w cn Q U) UlN C C cu N C Cll V U) CN C N C N LO E C U N Cn C N N N 2 2 2 Q 2i o 2 2 2 O O O O 0 C) 0 O O O O O O O O O O O O O M O O c) N o to O CO O o M o M N o o o cM o N m m M C) O) CD r Cl) r m O) M CO N O) M CO C7 m m M i L N U) U) E E E E r E U o Uo m o m co ° m m f c f c CY c CY c 0 c H Q m m Q H m m H m H mQQ Eo o -E Eo CL Eo aE Eo a -E Eo E CU rd a m r:D a 0 a m a m r a 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 M M M 4 c+] M M Q co O N M M M Q c'M M M O r CO CD r N 00 00 CD r i- r CO CD r Iti N CO M r N N CO m r ti r 00 mcksburg Crossing MEMORANDUM To: Jim Barnes From: Sara Paquette Date: August 13, 2012 RE: Vicksburg Crossing Monthly Report for July 2012 August Newsletter and August Calendar attached Rentals: As of July 31st, we have 93 occupied apartments with 1 vacant, and we have 1 deposit at this time, giving us a total of 0 apartments available to rent. The Low Income Apartment waiting list now has 41 names so we have been adding interested people to the list. Listed below is a breakdown of units that are occupied and vacant. Style (Total #) Square Feet Bedrooms occupied Vacant Deposits Est'd Move in Style A (23) 850 Sq Ft 1 Bedroom 23 0 0 Style C (8) 884 Sq Ft 1 + Den 8 0 0 Style C2 (8) 950 Sq Ft 1 + Den 8 0 0 Style D (8) 1187 Sq Ft 2 Bedroom 8 0 0 Style D2 (4) 1281 Sq Ft 2 Bedroom 4 0 0 Style E (7) 1055 Sq Ft 2 Bedroom 7 0 0 Style E2 (3) 1055 Sq Ft 2 Bedroom 3 0 0 Affordable 33) 725 Sq Ft 1 Bedroom 32 1 1 September 1st TOTALS 1 1 193 1 1 11 1 Lj 3155 Vicks6rg Lane N • Plpnouth, MN 55447 • Phone (763)559-1877 • Fax (763)559-0144 C).ed 11)' Plymouth housing and Redevelopment Audioxity WWWxi.plymouth.... 121 EQUAL HOUSING OPPORTUNITY Move-Ins/Move-Outs: We had one move into a market rate 1 bedroom and one move out of our affordable apartment. We currently have a deposit on the affordable apartment. Marketing We now have a waiting list of approximately 20 people who are interested in various styles of our market rate apartments. It will depend on timing of our move outs as to whether Vicksburg Crossing will work for them. We may possibly have an open house in the fall, depending on what our availability is at the end of August. Resident Services During coffee on Wednesday, July 18th Phil, from Lund's Pharmacy, came to our coffee hour to talk to the residents about fish oil and also to answer any other questions they had about medications. On Monday, July I& we had a summer party. We ordered BBQ chicken sandwiches from Dickey's, we also had potato salad, chips, watermelon and root beer floats. We had our monthly birthday party on Thursday, July 19th. We decorated with balloons, festive napkins and plates. We listed the birthday people on a balloon poster and sang Happy Birthday. We also give each resident a card on their birthday. Building Issues We have some paint that is peeling off around our dryer vents on the siding. We are looking at several different solutions to the problem. Balance Sheet VICKSBURG CROSSING 674,593 As Of July 31, 201 238,793 BUILDING Ending Balance Total ASSETS 348,957 CURRENT ASSETS 4,711 M I PETTY CASH 612 M I OPERATING ACCOUNT 441,509 M I SECURITY CASH ACCOUNT 55,173 INVESTMENTS - WORKING CAPITAL FUND 280,270 INVESTMENTS - DEBT SERVICE 329,302 ACCOUNTS REC-TENANTS 517) INTEREST RECEIVABLE 400 ACCOUNTS REC-OTHER 70 PREPAID PROPERTY INSURANCE 9,957 PREPAIO OTHER 2,968 TOTAL CURRENT ASSETS 1,119,743 FIXED ASSETS LAND 674,593 SITE IMPROVEMENTS 238,793 BUILDING 9,025,428 FURNITURE, FIXTURES & EQUIP -GENERAL 348,957 COMPUTERSIOFFICE EQUIPMENT 4,711 ACCUMULATED DEPRECIATION 2,086,726) TOTAL FIXED ASSETS 8,405,756 NON-CURRENT ASSETS BOND ISSUANCE COST 53,440 TOTAL NON-CURRENT ASSETS 53,440 TOTAL ASSETS 9,578,939 Balance Sheet VICKSBURG CROSSING As Of July 31, 2012 Ending Balance Total LIABILITIES CURRENT LIABILITIES ACCOUNTS PAYABLE -TRADE 23,496 HEARTS & MEMORIALS FUND DONATIONS 112 ACCRUED PAYROLL 3,632 ACCRUED COMPENSATED BALANCES 1,673 ACCRUED INTEREST 229,252 ACCRUED REAL ESTATE TAXES 30,760 ACCRUED OTHER 858 TOTAL CURRENT LIABILITIES 289,784 LONG-TERM LIABILITIES SECURITY DEPOSITS 54,771 BONDS PAYABLE 10,065,000 BOND DISCOUNT (28,197) 10,091,574 TOTAL LIABILITIES 10,381,358 EQUITY RETAINED EARNINGS-RSRVD FOR DS 416,516 RETAINED EARNINGS (1,153,291) TOTAL EQUITY (736,773) CURRENT YEAR INCOME!(LOSS) (65,646) TOTAL LIABILITIES & EQUITY 9,678,939 Profit and Loss Variance VICKSBURG CROSSING Through July 31, 2012 MTD Actual Budget Var. YTD Actual Budget Var. Year Budget INCOME APARTMENT RENTAL REVENUE 91,069 B6933 4,136 613,198 609,781 3,417 1,045,696 APARTMENT RENTAL REVENUE -COUNTY 2,646 2,679 33) 19,318 18,753 565 32,148 HRA SUBSIDY - TAX LEVY 2,000 2,000 0 14,000 14,000 0 24,000 GARAGE RENT 2,880 2,925 45) 20,407 20,475 68) 35,100 GUEST ROOM REVENUE 70 9B 28) 2,175 666 1,489 1,176 LATE FEE REVENUE 20 0 20 190 0 190 D APPLICATION FEE REVENUE 70 35 35 455 245 210 420 TRANSFER FEE REVENUE 0 0 0 0 500 1500) 500 INVESTMENT INCOME 105 100 5 256 700 444) 1,200 MISCELLANEOUS REVENUE 705 600 196 5,927 4,200 1,727 7,200 TOTALINCOME 99,655 95,370 4,285 675,925 669,34D 5,585 1,147,440 EXPENSES ADMINISTRATION MANAGER SALARIES 4,105 4,017 BB) 28,205 20,119 136) 48,204 PAYROLL TAXES 661 691 3D 4,992 4,837 155) 8,292 HEALTH INSURANCE 1,121 1,326 205 7,742 9,282 1,540 15,912 WORKERS COMP INSURANCE 137 205 68 1,011 1,435 424 2,460 MAINTENANCE SALARIESAAAGES 1,571 1,483 88) 10,647 10,381 266) 17,786 MAINTENANCE ASST SALARIES 945 70D 165) 6,162 5,460 702) 9,360 EMPLOYEECOSTS 45 51 6 338 357 20 612 SEMINARITRAINING 0 21 21 40 147 107 252 BANKFEES 0 5 5 20 35 15 60 DUES, SUBS & MEMBERSHIPS 0 10 10 0 70 70 120 LICENSE & PERMITS 0 0 0 876 976 0 876 MILEAGE REIMBURSEMENT 97 50 47) 609 350 259) 600 POSTAGElOVERNIGHT EXPRESS 9 16 7 B2 112 30 192 PRINTING 53 5 46) 5B 35 23) 60 MANAGEMENT FEES 4,000 4,000 0 28,000 28,000 0 4B4O0D PROFESSIONAL FEES 104 300 196 744 2,100 1,356 3,600 TELEPHONE EXPENSE 467 490 3 3,423 3,430 7 5 BBQ EQUIPMENT LEASEIREPAIR 69 125 56 662 875 213 1,500 OFFICESUPPLIES B6 96 10 256 672 416 1,152 TOTAL ADMIN EXPENSES 13,491 13,671 180 93,867 96,573 2,706 164,928 RESIDENT SERVICES RESIDENT PROGRAWACTIVITIES 244 265 21 1,855 1,855 4,515 TOTAL RES SERV EXPENSES 244 265 21 1,855 1,85$ tJ 4,515 MARKETING POSTAGE 0 0 0 15 0 15) 0 ADVERTISING 0 400 400 1,956 2,800 844 4,800 PROMOTIONAUPARTIES 0 0 0 309 500 191 1,100 TOTAL MARKETING EXPENSES 0 400 400 2,28D 3,300 1,020 5,900 HOUSEKEEPING CONTRACTLABOR 996 965 31) 6,980 6,755 225) 11,580 CLEANING SUPPLIES 151 100 61) 799 700 99) 1,200 TOTAL HOUSEKEEPING EXPENSES 1,156 1,065 911 7,779 7,455 1324) 12,780 Profit and Loss Variance VICKSBURG GROSSING Through July 31, 2012 MTD Actual Budget Var. YTD Actual Budget Var. Year Budget BUILDING & GROUNDS CABLE TV EXPENSE 12D 115 5) 832 805 27) 1,380 UTILITIES -ELECTRICITY 2,121 2,500 373 14,551 15,700 1,149 27,025 UTILITIES - GAS 378 450 72 11,437 14,100 2,663 23,350 UTILITIES - WATERISEVVER 1,037 1,150 113 6,690 6,925 235 11,900 WATER SOFTENING SERVICE 190 128 79) 985 896 69) 1.538 DOORS, KEYS & WINDOWS 0 72 72 419 504 85 864 FIRE SYSTEM SERVICE 53 305 252 2,529 2,135 494) 3,660 LAWN SERVICEJLANDSCAP7SNOW RMVL 858 1,40D 542 6,630 9,800 2,97D 16,800 PEST CONTROL 0 0 0 2,574 330 2,244) 660 TRASH REMOVAL 746 735 11) 5,351 5,145 206) B,B20 UNIT TURNOVER REPAIRS 1,669 2,333 664 17,401 16,331 1,070) 27,996 RESERVEIREPLACE CAPITAL EXPENSE 0 0 0 0 2,5DO 2,500 2,500 ELEVATOR-REPAIRS&MAINTENANCE 402 415 13 2,795 2,905 110 4,980 REPAIRS & MAINTENANCE 1,769 750 1,019) 20,202 12,050 8,152) 15,800 BUILDING & GROUNDS SUPPLIES 139 1,000 861 5,104 7,000 1,896 12,000 HVAC - REPAIRS&MAINTENANCE 225 550 325 4,005 3,850 155) 6,600 MISCELLANEOUS B & G EXPENSES 0 15 15 0 105 105 180 TOTAL BUILDING & GROUNDS 9,719 11,918 2,199 101,807 101,051 726) 166,061 OTHER OPERATING EXPENSES PROPERTY & LIABILITY INSURANCE 2,305 2,492 186 17,446 17,444 2) 29,904 PAYMENT IN LIEU OF PROPERTY TAX 4,384 4,331 63) 30,760 30,317 443) 51,972 TOTAL OTHER OPERATING EXPENSES 6,700 6,823 123 48,207 47,761 446) 51,876 TOTAL OPERATING EXPENSES 31,311 34,142 2,831 265,795 258,026 2,230 436,0&0 NET OPERATING INCOME 1( LOSS) 88,345 61,228 7,117 420,130 411,315 8,615 711,390 DEPREC, INTEREST & OTHER EXPENSE DEPRECIATION EXPENSE 30,723 30,649 77) 215,058 214,522 536) 367,752 AMORTIZATION EXPFNSE 325 303 22) 2,278 2,121 157) 3,636 INTEREST EXPENSE 38,964 38,954 0 268,439 272,748 4,309 467,568 TOTAL DEPRI=C, INTEREST & OTHER 70,012 69,913 99) 486,776 489,391 3,615 838,956 NET INCOME !(LOSS) 1,6671 8,685) 7,018 65,646) 78,076) 12,430 127,566) z w z w w w w H zEn X w WzDwz p w z a a w % 0 W W W >W> w? 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U a W Z Z w F a Z_ K= ¢¢ w o z- 0 0 l 2 W3a w rc a w Q¢ Z N y o> w w a¢¢¢ j W r Z K z 2 a K v uw 3kw rr0oo' ro o w 13OJLU O Z W uGi O W p w Z >- ur F- 4 a o v F W a s FQo.. a w¢¢¢ U m 5 a a a t:. a a m= p a n F a rii w. - o W r z z August 2012 Night to Unite Party Don't miss our annual Night to Unite Party!! For those of you who do not know about Night to Unite, formerly National Night Out, it is a night to get out of your home and meet your neighbors. For the past 24 or more years, this party has been held nation wide, and communi- ties throughout the country hold block parties that often include visits from Police Officers and Fire Fighters. The idea behind Night to Unite is that the better you know your neighbors, the safer you are as a community. It's also just a nice night to get together and spend some time chatting and socializing. Night to Unite this year is Tuesday, August 7th. We will have a party that starts at 5:30 PM that night. We will be having a classic barbecue on the back patio. The menu has been tentatively set at hot dogs and brats on the grill, chips, beans, potato salad, pickles, beverages and dessert. This year we are lucky enough to have one of our resident's, son and grandson providing music. Tickets for this event will be on sale in the community room Wednesday, Au- gust 1st and Thursday, August 2nd from 10-12. The cost of the ticket will be 3.00 per person. We sell tickets for an event this large so that we can get an accurate head count and plan appropriately. Your ticket includes your meal, beverages and dessert. We will being having a raffle so please bring your ticket the night of the party if you would like a chance to win! This event is sponsored by management, but 1 am in need of some volunteers to help out. If you would like to volunteer, there is a sign up sheet on the table outside my office. This year, with so many families in need, Plymouth is hosting a Night to Unite food and back -to -school drive. It is not required, but if you would like to donate please bring a non-perishable food item or a school supply to the party. Thank you for your help, and I hope to see you all on 4 Tuesday, August 7th! Rent is due on or before Sunday, August 5th Resident Notes & News Latelvj residents have leen kind enough to share many poems, articles and stories related to seniors. These can be from newspapers, magazines or just something you would like to share with the other residents. I hope you enjoy thein. Thanks to those who have contr& uted, and to residents who have not, if you find anything you would like to share please drop it off in the office. I might not have space in every newsletter so if I did not share your contribution this month you can look for it in a future edition of the newsletter. Welcome! We have new residents to welcome this month. Paul and Frances Hertle moved into apartment 112. Welcome to Vicksburg Crossing! a g .qq,, 1 9 1 9 ' Beverly Leber August 22nd Verna Walsh August 22nd Phyllis Clark August 26th Betty Stensrud August 26th Influenza Clinic This summer it seems as though the warm weather could go on forever, so it's hard to think about the flu season approaching, but we would like to help you prepare because it is right around the corner. Our goal to make it as easy as possible for everyone to get a flu and pneu- monia shot by offering them at Vicksburg Crossing in the community room. Homeland Health Specialists, Inc. is Medicare certified and provides vaccinations to Medicare patients. They will be here on Wednesday, September 12th from 9:00 –10:00 AM to provide a flu shot clinic for residents. The consent forms are on the table outside my office if you are interested. On the day of the clinic Homeland Health services will have nurses here and also insur- ance specialists to assist with paperwork. It is very important that two forms of insurance including Medicare and supplemental insurance cards are brought to the clinic. Copies of medical cards are acceptable. Comfort Keepers Nail Clinic Comfort Keepers will be here on Thursday, August 30th to provide a nail clinic. The cost is $25.00. They soak your feet and trim your nails. The clinic is from 1:30-3:30 in the community room. There will be a sign up sheet outside my office. W Happy Birthday to the following residents this month: August Birthdays will be celebrated on Thursday, August 16th at 2:00 . in the Community Room _.._ The birthday celebration is open to all residents who wish to come down and help us celebrate. Even if it's not your birthday) Our birthday party is always on the 3rd Thursday of the month. Alvin Keding August 6th Mary Templeton August 7th Margot Schuleman August 12th Clay Hagen August 14th Sharon Langland August 15th Russ Peterson August 15th Reola Riley August 19th Dorothy Ryan August 20th 00 N LO LIZ Ei LO Ei O 4 p3 C2 A ° p ti 0 U Q O q p to F SO 4 Id 4 4 ti U ip Q 4 -4 ON 4 ro p C4m U U .a U ro U c) i a ao v w v o U a U aC o U o zs U 00 4 4y v q N Ot F Ei F 44 ro ° ° °ccr QQ ik Q ti03ff Z ti N ti N XF- xi ro o a o o X4' 1 Y .,V 0) m N i ti m a N p a.c. I VICIZ n -g Crossing MEMORANDUM To: Jim Barnes From: Sara Paquette Cate: September 17, 2012 RE: Vicksburg Crossing Monthly Report for August 2012 September Newsletter and September Calendar attached Rentals: As of August 31 st, we have 91 occupied apartments with 3 vacant, and we have 2 deposits at this time, giving us a total of 1 apartment available to rent. The Low Income Apartment waiting list now has 42 names so we have been adding interested people to the list. Listed below is a breakdown of units that are occupied and vacant. Style (Total #) Square Feet Bedrooms Occupied Vacant Deposits Est'd Move in Style A (23) 850 Sq Ft 1 Bedroom 22 1 September 1st 1 Style C (8) 884 Sq Ft 1 + Den 8 0 0 Style C2 (8) 950 Sq Ft 1 + Den 8 0 0 Style D (8) 1187 Sq Ft 2 Bedroom 7 1 0 Style D2 (4) 1281 Sq Ft 2 Bedroom 4 0 0 Style E (7) 1055 Sq Ft 2 Bedroom 7 0 0 Style E2 (3) 1055 Sq Ft 2 Bedroom 3 0 0 Affordable 33) 725 Sq Ft 1 Bedroom 32 1 1 September 1st TOTALS 191 3 12 F-.-- . 3155 Vickshure Lane N • Plymouth, ivlN 55447 • Phone (763)559-1877 • Fax (763)559-01--'-W • n.W,.ci.plymouth.mn.us Owned by Plymotitt-i I jousiug anct Redevelopment Autbrn-ity EQUAL HOUSING OPPORTUNITY Move-Ins/Move-Outs: We had one move into a market rate 1 bedroom and one move out of an affordable apartment. We currently have a deposit on the both apartments. The couple that have a deposit down on the affordable apartment lived in the building previously and are excited to return. Marketing Tours and inquiries have increased this month. We continue to have many people contacting us who are interested in affordable or subsidized housing but we have also seen an increase in people interested in the market rate apartments. Many people who come to tour this time of year are more serious about moving and would like to make a change before winter. Resident Services We had our Night to Unite party on Tuesday, August 7''. The residents really enjoyed the evening. The son of one of our residents played guitar and sang. We had a barbecue with hot dogs and brats, beans, chips, potato salad, beverages and dessert. Residents donated to the food shelves and school supply drive. We had our monthly birthday party on Thursday, August 16'x. We decorated with balloons, festive napkins and plates. We listed the birthday people on a balloon poster and sang Happy Birthday. We also give each resident a card on their birthday. Building Issues We do not have any building issues this month. Balance Sheet As Of August 31, 2012 Ending Balance ASSETS CURRENT ASSETS M I PETTY CASH 612 M I OPERATING ACCOUNT 441,564 M 1 SECURITY CASH ACCOUNT 57,328 INVESTMENTS -WORKING CAPITAL FUND 285,270 INVESTMENTS - DEBT SERVICE 374,562 ACCOUNTS REG -TENANTS 577 INTEREST RECEIVABLE 500 PREPAID PROPERTY INSURANCE 22,972 PREPAID OTHER 3,514 TOTAL CURRENT ASSETS FIXED ASSETS LAND 874,593 SITE IMPROVEMENTS 238,793 BUILDING 9,025,428 FURNITURE, FIXTURES & EQUIP -GENERAL 348,957 COMPUTERSIOFFICE EQUIPMENT 4,711 ACCUMULATED DEPRECIATION 2,117,448) TOTAL FIXED ASSETS NON-CURRENT ASSETS BOND ISSUANCE COST TOTAL NON-CURRENT ASSETS TOTAL ASSETS 53,222 Total 1,186,898 8,375,034 53,222 9,616,164 Balance Sheet VICKSBURG CROSSING As Of August 31, 2012 Ending Balance Total LIABILITIES CURRENT LIABILITIES ACCOUNTS PAYABLE -TRADE 26,431 HEARTS & MEMORIALS FUND DONATIONS 112 ACCRUED PAYROLL 1,234 ACCRUED COMPENSATED BALANCES 1,673 ACCRUED INTEREST 268,216 ACCRUED REAL ESTATE TAXES 35,155 ACCRUED OTHER 37 TOTAL CURRENT LIABILITIES 332,858 LONG-TERM LIABILITIES SECURITY DEPOSITS 54,388 BONDS PAYABLE 10,065,000 BOND DISCOUNT 28,069) TOTAL LIABILITIES EQUITY RETAINED EARNINGS-RSRVD FOR DS RETAINED EARNINGS TOTAL EQUITY CURRENT YEAR INCOME!(LOSS) TOTAL LIABILITIES & EQUITY 10,091,298 10,424,156 416,518 1,153,291) 736,773) 72,229) 9,615,154 Profit and Loss Variance VICKSBURG CROSSING Through August 31, 2012 MTD Actual Budget Var. YTD Actual Budget Var. Year Budget INCOME APARTMENT RENTAL HEVENUE 88,634 86,933 1,7D1 701,832 696,714 5,118 1,045,896 APARTMENT RENTAL REVENUE -COUNTY 2,646 2,679 33) 21,964 21,432 532 32,148 HRASUBSIDY-TAX LEVY 2,000 2,DDD D 16,000 16,00D 0 24,000 GARAGE RENT 3,015 2,925 90 23,422 23,400 22 35,100 GUEST ROOM REVENUE 250 88 152 2,425 784 1,641 1,176 LATE FEE REVENUE 20 0 20 210 0 210 0 APPLICATION FEE REVENUE 70 35 35 525 20D 245 420 TRANSFER FEE REVENUE 0 0 0 0 50D 500) 500 INVESTMENT INCOME 105 10D 5 360 B00 440) 1,200 MISCELLANEOUS REVENUE 310 600 290) 6,237 4,800 1,437 7,200 TOTAL INCOME 97,050 95,370 1,680 772,975 764,710 8,265 1,147,440 EXPENSES ADMINISTRATION MANAGERSALARIES 4,105 4,017 88) 32,310 32,136 174) 48,204 PAYROLL TAXES 781 691 90) 5,773 5,528 245) 8,292 HEALTH INSURANCE 963 1,326 363 8,705 10,608 1,963 15,912 WORKERS COMP INSURANCE 199 205 6 1,210 1,840 430 2,460 MAINTENANCE SALARIESM4GFS 1,517 1,483 34) 12,164 11,864 1300) 17,786 MAINTENANCE ASST SALARIES 875 780 95) 7,038 6,240 796) 9,360 EMPLOYEE COSTS 68 51 17) 405 408 3 612 SEMINARILRAINING 0 21 21 40 168 120 252 BANK FEES 0 5 5 20 40 2D 60 DUES, SUBS & MEMBERSHIPS 55 10 45) 55 BD 25 12D LICENSE & PERMITS 0 0 0 876 876 0 876 MILEAGE REIMBURSEMENT 55 50 5) 663 400 283) 60D POSTAGE/OVERNIGHT EXPRESS 11 16 6 92 128 36 192 PRINTING 0 5 5 58 40 18) 6D MANAGEMENT FEES 4,000 4,000 0 32,000 32,000 0 48,000 PROFESSIONAL FEES 78 300 223 822 2,400 1,578 3,600 TELEPHONE EXPENSE SOD 400 10) 3.922 3,920 2) 5,880 EQUIPMENT LEASEIRFPAIR 324 125 199) 986 1,000 14 1,500 OFFICE SUPPLIES 297 95 201) 554 768 215 1,152 TOTAL ADMIN EXPENSES 13,025 13,671 154) 107,692 110,244 2,552 164,926 RESIDENT SERVICES RESIDENT PROGRAMIACTIVITIES 341 265 76) 2,196 2,120 70) 4,515 TOTAL RES SERV EXPENSES 341 265 76) 2,196 2,120 76) 4,515 MARKETING POSTAGE 0 0 0 i5 0 15) 0 ADVERTISING 216 400 184 2,172 3,200 1,028 4,800 PROMOTIONALIPARTIES 0 ODD 300 309 800 491 1,100 TOTAL MARKETING EXPENSES 216 700 484 2,496 4,000 1,504 5,900 HOUSEKEEPING CONTRACT LABOR 996 965 31) 7,976 7,720 256) 51,580 CLEANING SUPPLIES 79 100 21 878 BDD 713) 1,200 TOTAL HOUSEKEEPING EXPENSES 1,075 1,065 10) 8,854 8,520 334) 12,780 Profit and Loss Variance VICKSBURG CROSSING Through August 31, 2012 BUILDING & GROUNDS CABLE TVEXPENSE UTILITIES - ELECTRICITY UTILITIES - GAS UTILITIES - WATERISEWER W4TER SOFTENING SERVICE DOORS, KEYS&WINDOWS FIRE SYSTEM SERVICE LAWN SERVICE4ANDSCAPl5NOW RMVL PEST CONTROL TRASH REMOVAL UNIT TURNOVER REPAIRS RESERVElREPLACE CAPITAL EXPENSE ELEVATOR -REPAIRS & MAINTENANCE REPAIRS & MAINTENANCE BUILDING & GROUNDS SUPPLIES HVAC - REPAIRS & MAINTENANCE MISCELLANEOUS 8 & G EXPENSES TOTAL BUILDING & GROUNDS OTHER OPERATING EXPENSES PROPERTY & LIABILITY INSURANCE PAYMENT IN LIEU OF PROPERTY TAX TOTAL OTHER OPERATING EXPENSES TOTAL OPERATING EXPENSES NET OPERATING INCOME I ( LOSS) DEPREC, INTEREST & OTHER EXPENSE DEPRECIATION EXPENSE AMORTIZATION EXPENSE INTEREST EXPENSE TOTAL DEPREC, INTEREST S OTHER NET INCOME/(LOSS) MTD Actual Budget Var. YTD Actual Budget Var. Year Budget 120 115 5) 952 920 32) 1,380 2,090 2,500 410 16,640 18,200 1,560 27,025 353 450 97 11,790 14,560 2,760 23,350 1,201 4,150 51) 7,892 6,075 183 11,900 182 128 54) 1,167 1,024 143) 1,536 489 72 417) 908 576 332) 064 1,172 305 867) 3.801 2,440 1,361) 3,660 858 1,400 542 7,688 11,200 3,512 10,600 137 0 137) 2,711 330 2,381) 660 748 735 13) 6,099 5,880 219) 8,820 1,932 2,333 401 19,333 18,664 669) 27,906 0 0 0 0 2,500 2,600 2.500 402 415 13 3,197 3,320 123 4,980 59 750 691 20,261 12,800 7,451) 15,800 682 1,000 418 5,687 8,000 2,313 12,000 903 550 363) 4,908 4,400 568) 6,600 0 15 15 0 120 120 160 11,229 11,918 6B9 113,036 112,999 37) 166,051 2,541 2,492 49) 19,907 19,935 51) 29,904 4,394 4,331 63) 35,155 34,648 507) 51,972 6,935 6,623 112) 55,142 54,584 55B) 81,876 33,621 34,442 821 289,417 292,467 3,050 436,050 63,420 60,928 2,500 483,558 472,243 11,315 711,390 30,723 30,646 77) 245,781 245,168 613) 367,752 325 303 22) 2,604 2,424 180) 3,636 38,964 38,964 0 307,403 311,712 4,309 467,668 70,012 69,913 99) 555,788 559,304 3,516 838,956 6,584) 8,9851 2,401 72,229) 67,061) 14,632 127,566) Lc A o v v iry n n iu m i n r: iv a 9eO1- eULm n F IL Y W O v N W a O CN p p o 0 0 0 0 0 o D 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o p o 0 0 W o a N Ca m a 'az p N o 0 0 0 0 0 0 o p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 o p o 0 0 0 0 0 0 0 o O o o p C r W ON O r m m a O p 4 p o 0 0 0 0 o D o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o D o D o 0 O O o O 0 W ON a p d M a VJ a W d M a a D oIllry w n N • n .- a C m a C N .N- lab m m m vmNi p p m O m m OWNIt 0 pCNNe o n V n o Y N n N a g n p p p q r p 2 m m D po 6 M a a DtoorrytVN W N N N N N ' o ry r Y r N r C e D INro r rammo m m a `w e m C maN a LL ry cl m m N r N ry N ry m NW 9 a b co z W D m w LUa uu yz( y> y> W } alL n N( F R W W x Z W J N W W a W Z Zi w m w m tW F¢- F j w K O a' cw V Z% V4 N m [7 `2 F K ti w w W 11q 111 Itl K W z rc K F F K W "- y d W 4 -1 liml K W W mp Z yj LL a + W Z " U N D . a W yy F qq $ S o U' a V) W O W O 0 z 0 N lC Z V) 6 C W w 7 `d K N Z Z D a V! 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W sl} w ¢ w¢ w a m w 'w wwowzmzC7wdEOwH m v W H u p o a ^4 O a w W O o5 w Z z w z 7 0 z o O S7 2 r a W h N o w ¢ z mW -h 0 4 w% z 0 rc - w F c + CK z Z w w0%a%w 3LL borc[a d wmz x Q z woo,wdWzrc0 ° a m a O W FF z¢~ r o z w w w m i n op z O a w a a! w m O O w l 7i w w N F h~? Q O cl ¢ W 4 m ¢ O d V w rc rc a U mQ h F F¢ W }' a Z w i z Hy>> o g r w rc x O a r p w w a_ w F 7 P Z September 2012 Our Night to Unite party on Tuesday, August 7th was a huge success. Thank you so much for the generous donations everyone brought to the r party. There are many families in need who will appreciate the donations. arl<al ti,f os aii What a wonderful group of volunteers we had helping the night of the party. You all m ak our parties possible. e. A specialecial thanks o Dick and Eunice who organized the grilling operation and alsothe residents who T111111? hel ed them. The brats and hot dogs were delicious! Everyone enjoyed the entertainment provided by Maryalyce's son and his friend. It's very nice when talented family members are willing to come to Vicksburg Crossing and perform for us. Not only were they good musi- cians, but they were also pretty good comedians! Mark your calendars!! Our next party will be our Halloween party on Wednesday, October 31 st. We will have good food, good music and I hope some creative costumes! It is always a fun party. This year our en- tertainment will be Tommy Burnevik a local musician who plays the saxophone. Look for more information in our October newsletter. Writing Group Welcome to the fall and winter session of the writer's group. This year instead of meeting four times per month we decided to meet just 2 times. We will meet on the 2nd & 4th Wednesday of each month. The first ses- sion will be Wednesday, September 12th at 1:30 pm in the community room. If you are interested in sharing your life story or just writing about a subject that interests you please join us. No writing experience necessary! Labor Day The office will be closed on Monday, September 3rd for the Labor Day holiday. f s•.^rc,:-;__rte o Resident Meeting We have many new residents so I would like to remind everyone that we have resi- dent est dent coffee on Wednesday mornings at 9:00, and on the first Wednesday of every month we have a resident meeting during coffee hour. It is a good time to find out about upcoming events, if there are any maintenance issues or scheduled mainte- nance work, ask questions or hear other resident's concerns. Our next meeting is a Wednesday, September 5th in the community room. ry u IS Nr Vicksburg Library Many of you have noticed, and for those of you who have not, I would like to Wpoint out that we have a mystery librarian. One of our residents spent a lot of time organizing our library and we would like to keep it that way. I do not know who decided to take on this very time consuming task, but I would just like to let them know it is greatly appreciated. Thank Y60! ! We have a couple of residents who have volunteered to make sure the books stay in order. Thank You!! They have been alphabetized by the last name of the author. When you return books please try to keep them in alphabetical order by the author's last name. If for some rea- son you do not have time when you, either return your book or donate a book, to put it in the proper spot there is a box in the library labeled "Book Drop" to put your return or donation in. In order to keep the library shelves organized we need to collect and donate books to other or- ganizations or libraries a few times throughout the year. So please do not donate books to the Vicksburg Crossing library that you may need or want in the future. It is nice to have the library in good order so lets keep it that way!! ! Comfort Keepers Nail Clinic Comfort Keepers will be here on Thursday, September 13th to provide a nail clinic. The cost is $25.00. They soak your feet and trim your nails. The clinic is from 1:3 0-3:3 0 in the community room. There will be a sign up sheet outside my office. 1i Ali vi Ali Ali Ali Ali Ali {i Ali Ali Ali Ali Ali Ir Ali Ali Ali Ali Ali 1i Ali {i Ali Ali {i Ali76- 70- 71C -AC 71C 70T,70, 7r"- 76- i{. 71 i{,-- 71C 71C 71 76. 7F 71C i{N- 76-70- 7676- 70C 71C 7M= 71` Rent is due on or before Wednesday, September 5th -1 n l{i Ali I7i{ {- 1I® l l- i{ Il- 7{ I{/ I 77p71l-). A Ali IliA\{i Ali %J/ Ili '-,04.N14 1Ali 1 i0{C Resident Notes & News Latelij residents have been kind enough to share mann poems, articles and stories related to seniors or just items everigone might enjoy. These can be from newspapers, magazines or just something ijou would like to share with the other residents. 1 hope -you enjoig them. Thanks to those who have contributed, and to residents who have not, if Lou find anijthing L]ou would like to share please drop it off in the office. I might not have space in event newsletter so if I did not share Dour contribution this month Lou can look for it in a future edition of the newsletter. The end of gardening season is fast approaching. I think we had an exceptionalhy beauti- ful and bountiful garden this Dear. A resident was kind enough to contribute this poem for the newsletter and it is perfect for the harvest season, A Gardener's Love Letter" MLS sweet potato, do Liou carrot at all for me? You are the apple of mid eine, with radish hair and turnip nose. Mie heart beets for Lou. MLS love for -you is as strong as onions. "If we cantaloupe, lettuce marry, and we will be a happtj ear. Welcome! We have a new resident to welcome this month. Iolene Uzzell who moved into apartment 124, Walter and Maria Rupp, who are returning residents, moved into apartment 314 and Welcome to Vicksburg Crossing! Garage Etiquette Please slow down in the garage ! Some residents have expressed concern, espe- cially when backing out of their parking spot, that cars are going too fast in the ga- rage. As you enter and leave the garage it is also very important to watch the ga- rage door close behind you. It does not take long and is a good way to prevent un- wanted guests from entering the building. Bappy Birthday to the foliowin residents this month: September Birthdays will be celebrated on Thursday, September 20th at 2:00 in the Community Room L L Th 'rThebirthday celebration is open to all residents who wish to come down lk and help us celebrate. Even if it's not your birthday) Our birthday party is always on the 3rd Thursday of the month. James Halsted September 5th Vk Susan Ledbetter September 7th tk lk Lana Patraw September 10th Geri Raphael September 11 th faQ Oral Peterson September 25th Influenza Clinic You still have time to sign up for the flu clinic. Homeland Health Specialists will be here on Wednesday, September 12th from 9:00 —10:00 AM to provide a flu shot clinic for residents. The consent forms are on the table outside my office if you are interested. To speed up the process, please fill out the consent form and bring it on the day of the clinic Homeland Health services will have nurses here and also insurance specialists to assist with paperwork. It is very important that two forms of insurance including Medicare and supplemental insurance cards are brought to the clinic. Copies of medical cards are acceptable. i` a.+ cn LL IF c 2 aS z x: CC) w 0 O 4 o q O O O Lo 10 b O o O UUUr° U U S c c c c 0 0 0 o o V o 0 0 Sow 13 a fi c U i V vy UE2oU) m ai ' O O M y b p O kt-: bq O o b 4zi F o KL j 4 ho CS Q) N N U UU UU C7 0U bb O o m O o co O CO) m O Y O Cc O N O U V b V fi U Ei mi W UO U O S O U o o U ti O U kD O C O C fi O co co O N uS m Q E--ff 1 N M a.c. Vick burg Crossing MEMORANDUM To: Jim Barnes From: Sara Paquette Date: October 16, 2012 RE: Vicksburg Crossing Monthly Report for September 2012 October Newsletter and October Calendar attached Rentals: As of September 30th, we have 92 occupied apartments with 2 vacant, and we have 1 deposit at this time, giving us a total of 1 apartment available to rent. The Low Income Apartment waiting list now has 42 names so we have been adding interested people to the list. Listed below is a breakdown of units that are occupied and vacant. Style (Total #) Square Feet Bedrooms Occupied Vacant Deposits Est'd Dove in Style A (23) 850 Sq Ft 1 Bedroom 23 0 0 Style C (8) 884 Sq Ft 1 +Den 8 1 0 Style C2 (8) 950 Sq Ft 1 + Den 8 0 0 Style D (8) 1187 Sq Ft 2 Bedroom 7 1 1 October 15th Style D2 (4) 1281 Sq Ft 2 Bedroom 4 0 0 Style E (7) 1055 Sq Ft 2 Bedroom 7 0 0 Style E2 (3) 1055 Sq Ft 2 Bedroom 3 0 0 Affordable 33) 725 Sq Ft 1 Bedroom 33 0 0 TOTALS 1 1 192 12 1 1 3155 Lickshurg -Lane N •Plymouth, h'IN 4l7 • Phaue (763)559-1877 • Fax (763)559-01,14 • WWw.d.p1}2naiA.mn.u9 Onmed by PlymoLah Housing and Redevelopment Atithorily EQUAL HOUSING OPPORTUNITY Move-Ins/Move-Outs: We had one move into a market rate 1 bedroom and one move into an affordable apartment. We had two move outs both from market rate 1 bedroom apartments, style A and style C. One resident lost her job and moved in with a relative the other resident moved to assisted living. Marketing Tours and inquiries have increased this month. We continue to have many people contacting us who are interested in affordable or subsidized housing but we have also seen an increase in people interested in the market rate apartments. Many people who come to tour this time of year are more serious about moving and would like to make a change before winter. Resident Services We had good turn out for our resident flu shot clinic that was held on Wednesday, September 12tH We had our monthly birthday party on Thursday, September 2e. We decorated with balloons, festive napkins and plates. We listed the birthday people on a balloon poster and sang Happy Birthday. We also give each resident a card on their birthday. Building Issues We are currently taking bids to have all our dryer vents cleaned. Balance Sheet VICK BURG GROSSING As Of September 30, 2012 Ending Balance ASSETS CURRENTASSETS M I PETTY CASH 612 M I OPERATING ACCOUNT 454,412 M I SECURITY CASH ACCOUNT 55,142 INVESTMENTS- WORKING CAPITAL FUND 292,073 INVESTMENTS- DEBT SERVICE 188,498 ACCOUNTS REC-TENANTS 297) INTEREST RECEIVABLE 300 PREPAID PROPERTY INSURANCE 20,431 PREPAID OTHER 2,966 TOTAL CURRENT ASSETS FIXED ASSETS LAND 874,593 SITF IMPROVFMFNTS 238,793 BUILDING 9,025,428 FURNITURE, FIXTURES & EQUIP -GENERAL 348,957 COMPUTERSIOFFICE EQUIPMENT 4,711 ACCUMULATED DEPRECIATION 2,148,171) TOTAL FIXED ASSETS NON-CURRENT ASSETS BOND ISSUANCE COST 53,005 TOTAL NON-CURRENT ASSETS TOTAL ASSETS Total 1,014,138 8,344,311 53,005 9,411,454 Balance Sheet As Of September 30, 2012 Ending Balance LIABILITIES Total CURRENT LIABILITIES ACCOUNTS PAYABLE -TRADE 16,428 HEARTS & MEMORIALS FUND DONATIONS 112 ACCRUED PAYROLL 1,686 ACCRUED COMPENSATED BALANCES 1,673 ACCRUED INTEREST 77,928 ACCRUED REAL ESTATE TAXES 39,549 ACCRUED OTHER 1,145 TOTAL CURRENT LIABILITIES 138,523 LONG-TERM LIABILITIES SECURITY DEPOSITS 52,204 BONDS PAYABLE 10,065,000 BOND DISCOUNT 27,981) 10,089,223 TOTAL LIABILITIES 10,227,746 EQUITY RETAINED EARNINGS-RSRVD FOR DS 416,518 RETAINED EARNINGS (1,153,291) TOTAL EQUITY (736,773) CURRENT YEAR INCOME!(LOSS) (79,519) TOTAL LIABILITIES & EQUITY 9,411,454 Profit and Loss Variance VICKSBURG CROSSING Through September 80, 2012 MTD Actual Budget Var. YTD Actual Budget Var. Year Budget INCOME APARTMENT RENTAL REVENUE 89,499 87,558 1,941 791,331 784,272 7,059 1,045,690 APARTMENT RENTAL REVENUE -COUNTY 2,646 2,679 33) 24,610 24,111 499 32,146 HRA SUBSIDY -TAX LEVY 2,000 2,000 0 18,000 18,000 0 24,000 GARAGE RENT 2,925 2,925 0 26.347 26,325 22 35,100 GUEST ROOM REVENUE 240 98 142 2,665 882 1,783 1,176 LATE FEE REVENUE 20 0 20 230 0 230 0 APPLICATION FEE REVENUE 0 35 35) 25 315 210 420 TRANSFER FEE REVENUE 300 0 300 360 500 200) 500 INVESTMENT INCOME 2,772 100 2,672 3,133 900 2.233 1,200 MISCELLANEOUS REVENUE 40 600 560) 6,277 5,400 877 7,200 TOTALINCOME 100,442 95,995 4,447 873,417 860,705 12,712 1,147,440 EXPENSES ADMINISTRATION MANAGER SALARIES 3,973 4,017 44 36.282 36,153 129) 48,204 PAYROLLTAXES 509 691 182 6.282 6,219 63) 8,292 HEALTH INSURANCE 1,120 1,326 206 9,025 11,934 2,109 15,912 WORKERS COMP INSURANCE 136 205 69 1,345 1,845 499 2,460 MAINTENANCE SALARIESAWIGES 1,455 1,483 18 13,629 13,347 282) 17,796 MAINTENANCE ASST SALARIES 887 780 107) 7,923 7,020 903) 9,360 EMPLOYEECOSTS 45 51 6 450 459 9 612 SEMINARITRAINING 49 21 28) 89 189 100 252 BANKFEES 0 5 5 20 45 25 60 DUES, SUBS & MEWrREHiPS 0 10 10 55 90 35 120 LICENSE & PERMITS 0 0 0 876 e76 0 876 MILEAGE REIMBURSEMENT 75 50 25) 736 450 zee) 600 POSTAGEIOVERNIGHT EXPRESS 5 16 11 97 144 47 192 PRINTING 0 5 5 58 45 13) 60 MANAGEMENTFEES 4,000 4,000 0 36,000 36,000 0 48,006 PROFESSIONAL FEES 2,053 300 1,753) 2,675 2,700 175) 3.600 TELEPHONE EXPENSE 499 490 8) 4,422 4,410 12) 5,880 EQUIPMENT LEASEIREPAIR 69 125 56 1,055 1,125 70 1,600 OFFICE SUPPLIES 180 96 84) 733 064 131 1,152 TOTAL ADMIN EXPENSES 15,065 13,671 1,394) 122,757 123,915 1,158 164,920 RESIDENT SERVICES RESIDENT PROGRANVACTIVITIES 63 265 202 2,259 2,385 126 4,515 TOTAL RES SERV FXPENSES 63 265 202 2,259 2,385 126 4,515 MARKETING POSTAGE 0 0 0 15 0 15) 0 ADVERTISING 616 400 116) 2,660 3,600 912 4,800 PROMOTIONAUPARTIES 0 300 300 309 1,100 791 S,t00 TOTAL MARKETING EXPENSES 516 700 184 3,012 4,700 1,688 5,900 HOUSEKEEPING CONTRACT LABOR 986 955 31) 8,972 8,685 287) 11,5e0 CLEANING SUPPLIES 0 100 100 878 900 22 1,200 TOTAL HOUSEKEEPING EXPENSES 996 1,065 69 9,850 9,585 2651 12,780 Profit and Loss Variance VICKSBURG CROSSING Through September 30, 2012 BUILDING & GROUNDS CABLE TV EXPENSE UTILITIES - ELECTRICITY UTILITIES - GAS UTILITIES- WATEWSEWER WATER SOFTENING SERVICE DOORS, KEYS & WINDOWS FIRE SYSTEM SERVICE LAWN SERVICEfLAND5CAPISNOW RMVL PESTCONTROL TRASH REMOVAL UNIT TURNOVER REPAIRS RESERVEIREPLACE CAPITAL EXPENSE ELEVATOR -REPAIRS & MAINTENANCE REPAIRS & MAINTENANCE BUILDING & GROUNDS SUPPLIES HVAC - REPAIRS & MAINTENANCE MISCELLANEOUS B & G EXPENSES TOTAL BUILDING & GROUNDS OTHER OPERATING EXPENSES PROPERTY & LIABILITY INSURANCE PAYMENT IN LIEU OE PROPERTY TAX TOTAL OTHER OPERATING EXPENSES TOTAL OPERATING EXPENSES NET OPERATING INCOME/ ( LOSS) DEPREC, INTEREST & OTHER EXPENSE DEPRECIATION EXPENSE AMORTIZATION EXPENSE INTEREST EXPENSE TOTAL DEPREC, INTEREST & OTHER NET INCOME! (LOSS) MTD Actual Budget Var. YTD Actual Budget Var, Year Budget 120 115 5) 1,072 1,035 37) 1,380 2,085 2,200 115 10.726 20,400 1,674 27,025 476 1,190 624 12.266 15.650 3,384 23,350 1,223 1,059 173) 9,114 9,125 11 11,900 113 128 15 1,280 1,152 128) 1,535 0 72 72 908 646 260) 864 53 305 252 3,854 2,745 1,109) 3,660 965 1,400 435 8,654 12,600 3,946 16,800 161 165 4 2,872 495 2,377) 660 758 735 23) 6,857 6,615 242) 8,820 5,355 2,333 13,023) 24,689 20,997 3,692) 27,996 0 0 0 D 2,500 2,500 2,500 402 415 13 3,599 3,735 136 4,980 0 750 750 20,261 13,550 6,711) 15,800 487 1,000 513 6,174 9,000 2.026 12,000 595 550 46) 5,504 4,950 554) 6,600 0 15 15 0 135 135 180 12,794 12,333 461) 125,830 125,332 496( 166,051 2,541 2,492 49) 22,528 22,428 100) 29,904 4,394 4,331 63) 39,549 38,979 570) 51,972 6,935 6,823 112) 62,077 61,407 670) 81,876 36,369 34,857 1,512) 325,786 327,324 1,538 436,050 64,073 61,138 2,935 547,632 33,381 14,251 711,390 30,723 30.646 77) 276,503 275,814 669) 351,752 325 303 22) 2,929 2,727 202) 3,536 40,315 38,964 1351) 347,718 350,676 2,958 467,568 71,363 69,913 1,450) 627,151 629,217 2,066 838,956 7,290) 8,775) 1,485 79,519) 95,836) 16,317 127,566) B W r e p n Tn y n .N- r 1` qq m eai w m e a N vmi m e m N n m y m N e m N pm ma m a N W O a N d M a 0 a N C r W o G o 6 6 6 8 4 6 6 6 0 o 0 0 0 0 0 0 0 0 o p 4 6 0 6 6 6 6 6 6 6 6 6 6 6 6 0 0 6 e p o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o p e p o 0 o e o G 0 0 0 0 o e p 0 o p a N 0 0 a u z N W o a N o r CL T o 0 0 0 0 0 0 0 0 o p o e o e o 0 0 0 o e o 0 0 0 0 0 0 0 o p o p o 0 0 0 0 0 0 O a N W` o o n v r m m m m n o ea m m O M a N r PZ v e r r a m 6 N O .r n N r r ie N Gai a o 0 o vi Y b m N N O o O p m T y o a W o o ma § cl W cpi m _ m - da 0 a a6 W N N o m h n a ti o a o a o 4 a Q a o n m a NiO ry n N a n `o m O m N N um CL w r a N W O o o -It NmN a m W O QI a a n W N N N ry ri N DO W W W WqW_ 4J W WFZ WN W IZ[ 1 W2ZW w W W W Nu z a WNdtigyZ 7 Wra v jy] 0Z K 2 W W W x w il o aJWNmWW a w_ V i u~i u p uy W w W 4 W w W W YFaFTWW 4F K W LL Z 7 y z ai Z W Q E ui d m Z m S LL J R a n Z w X m p Fo w o u o u= "' f K W r a soudiNoiiaW S O a z C7 fWll w w rc w~ w 3 u m oyhwarczzyLLwww o w ori Q m W r z ttui W rc rc N w w z u~i ? 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I would like to thank all of the residents for being very patient and helpful while I try to juggle two buildings. Interviews are underway, so it should not be too much longer and I will be back to my regular hours! See insert in newsletter for my updated office hours. A Halloween Party Don't miss our Halloween party!! It's always a lot of fun. Costumes are optional, but certainly encouraged. We had some creative costumes last year! M. We will be having a new musician perform. His name is Tom Burnevik and he has been playing around the Twin Cities area for many years. He plays the saxophone, keyboard and sings. He is a different than other musicians we have had but I think you will enjoy it. It's always fun to have a little variety! Tickets will be $5.00 and will be on sale Tuesday, October 23rd and Wednesday, October 24th in the commu- nity room from 10:00-12:00. We will be having baked penne with meatballs, salad, garlic bread, beverages and dessert. Volunteers can sign up on the sheet outside my office. Thank You! Building and Maintenance Updates Management has received several concerns about noise in the building late at night. If you refer to our Resident Handbook on page 7 it asks that residents be considerate of their neighbors, and limit noise between the hours of 10:00 p.m. and 8:00 a.m. Noise would include, but is not limited to, things such as, loud television, vacuuming and washing clothes. Also included in our Resident Handbook on page 18 is a section on proper attire. Be- cause we have a lot of visitors come through the front lobby and community room we ask that residents do not wear pajamas, robes or slippers in the common areas. We recently had a power outage which affected the whole area. Vicksburg Crossing has an emergency generator, which includes the community room, some hall lights and the west elevator. Residents should also keep a flashlight close at hand in their apartment. During an outage please be aware that Mike and Terry can be very busy and quite often they cannot solve the problem. They not only can have many resi- dents calling them, but our alarm service needs to contact them because they receive a trouble signal when the power goes out. They will contact Xcel Energy as soon as possible to make sure they are aware of the outage. Try to be patient and know that our maintenance crew is monitoring the situation. Thank You! Store to Door Store to Door is a non-profit grocery shopping and delivery service for seniors. Clients pay for their groceries and are asked to make a small contribution based on their income for deliv- ery. A representative from the program will be here on Wednesday, October 17th at 10:00 in the community room. They will be able to give you more specifics about the program so if you might be interested presently or possibly in the future you should attend the informational session. I r Medicine Collection On Tuesday, October 30th Hennepin County Environmental Services will be at Vicksburg Crossing to collect unused medicines for residents. This is a wonderful opportunity for you to safely dispose of medicines you no longer need. A Sheriff will be present when you drop them off. If you have medicine you wish to dispose of please bring it down to the community room on Tuesday, October 30th. between 9:30-10:00. You may not bring any medicine to the office ahead of time!! , They need to be handed directly to the Sheriff. Political Campaigning As most of you already know, it is an election year, so our local politicians are out campaign- ing. Senator Terri Bonoff has requested permission to visit our building. Instead of going door to door she will be speaking in the community room on Wednesday, October 10th at 10:00. No matter how you vote or what your political preference is, it is a good opportunity to ask questions and address concerns. Welcome! We have a new resident, Tom Doman, who is now moved into apartment 202. Welcome to Vicksburg Crossing! 7#C 7#,*- #l*- 7#X 711k i#- -TC i#C #- 7111- i#- i# 711% 10111% i# 70- /F 7F 7F, 'PIN, 711 711Z 711Z 71 Rent is due on or before Friday, October 5th \ 1#e- \#i#i##i Ali #i Ali#i Ali Ali Ali#i 1 Ali Ali Ali 4 Fi Ali Ali Ali #i Ali Fi Ali ii71\ 7# i# 70 i# 7f 7# i C 7# i# i#\ 1 4 1 residents this month: October Birthdays will be celebrated on Thursday, October 18th at 2:00 in the Community Room The birthday celebration is open to all residents who wish to come down and help us celebrate. Even if it's not your birthday) Our birthday party is always on the 3rd Thursday of the month. Dennis Patraw October 6th AJ Doerner October 17th Joan Nelson October 22nd Nancy Rohrer October 23rd Murrae Freng October 24th Betty Peterson October 24th Carol Clemens October 25th Donna Hawkinson October 25th Marion Hall October 26th C E 3 C 0 I 1 C C non Ka o x QD s o N N b Hca W y ti o n zr a' f n 1" o o os QC) a oo oo•} o a 0 D o 0 CD CD CD Z y a:)0:1 cQ O Q OCI) 3 a Cl) 0)CC CD CD }1 2 o C CL G CD 70 lb y zz CD CD CD 7 CD Q 1 Q Y+ p+ O \ Q cz w 0 0 x co a d m C a xr m A., b m o oo o sczo wo n o n cz co O CD 00 co O C) r O r co cD c) c Z2" C) m tr 0 rn so M p so co Q o o c o 0 0 o Qo Ar 03 q 1 o° n°o co s o 0 a o o o o o o 3 O O O b V p Lu C E 3 C 0 I 1 C C non Agenda Number 3. A. PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY STAFF REPORT TO: Plymouth Housing and Redevelopment Authority FROM: Denise Whalen, Support Services Manager through Steve Juetten, Executive Director MEETING DATE: October 25, 2012 (Recessed Frorn September 27, 2012) SUBJECT: Proposed Changes to the Housing Choice Voucher Administrative Plan and Submission of HUD -50077 -CR BACKGROUND: As a qualified public housing agency, Plymouth HRA is required to submit a signed civil right certification (50077 CR) to the local Housing and Urban Development (HUD) office and hold a public hearing for the Housing Choice Voucher Administrative Plan. Plymouth HRA currently serves about 400 very low to low income families through its administration of the Section 8 Housing Choice Voucher program. The local policies and efforts have made the Section 8 Housing Choice Voucher program a success and the Plymouth HRA continues to use admission policies that target the very needy by providing assistance in low -poverty and economically viable areas. Our current allocation is 225 vouchers; 14 of which have ported out to other jurisdictions. At this time staff is also administering 171 port -in vouchers. PROPOSED CHANGES: The Administrative Plan consists of HUD regulations within each chapter. When applicable where policy is discretionary or needs to be clarified, it is noted under "HRA Policy". Staff is proposing changes relating to HRA Policies which is outlined below: Chapter 3, Part I- 34D., Head of Household (Page 3-3). Typographical error. Chapter 5, Part II - 5-II.B., Determining Family Unit (Voucher) Size (Page 5-9). Typographical error. Chapter 5, Part 11- 5-I1, C„ Exceptions to Subsidy Standards (Page 5-9). Replace entire section for better clarity. Chapter 8, Exhibit 8-1, Overview of HUD Housing Quality Standards (Page 8-19). Typographical error. Chapter 13, Part 11 — 13-11.F, Change in Ownership/Assignment of the HAP Contract (Page 13-13). Replace written request with Ownership Change form. A public hearing must be held; members of a resident advisory board must have the opportunity to review and comment on the Plan; and, the HRA Board of Commissioners must approve the Plan. As required, a forty-five day notice was published in the Plymouth Sun -Sailor for the public hearing to be held Thursday, September 27, 2012. The Administrative Plan was submitted to the members of the HRA's Section 8 Resident Advisory Board for review and comment. No comments were received. The Administrative Plan will be posted on the city's website after approval by the Board. RECOMMENDATION: Staff recommends that after holding the scheduled public hearing and considering any public comments, the HRA Board of Commissioners approve the proposed changes to the Administrative Plan and submission of the 50077 CR to Housing and Urban Development (HUD) for the fiscal year beginning January 1, 2013. ATTACHMENTS: 1. HRA Resolution 2012-07 2. Civil Rights Certification, HUD -50077 CR 3. Housing Choice Voucher Administrative Plan Changes 2 CITY OF PLYMOUTH HRA RESOLUTION 2012-07 A RESOLUTION TO APPROVE THE PROPOSED CHANGES TO THE ADMINISTRATIVE PLAN AND AUTHORIZE SUBMISSION OF 50077 CR TO HOUSING AND URBAN DEVELOPMENT (HUD) WHEREAS, Housing and Redevelopment Authority (HRA) in and for the City of Plymouth, Minnesota operates a Section 8 Housing Choice Voucher Program; and, WHEREAS, the HRA has established a Resident Advisory Board, the membership of which represents the residents assisted by the HRA; and WHEREAS, the HRA made the proposed changes to the Administrative Plan and all information relevant to the public hearing available for public inspection at least 45 days before the hearing, published a notice that a hearing would be held and conducted a hearing to discuss the proposed changes to the Administrative Plan and invited public comment; and, WHEREAS, the Resident Advisory Board had an opportunity to review and comment on the changes to the policies and programs before implementation by the HRA; and, WHEREAS, the Administrative Plan and all attachments have been and will continue to be available at all times and for public inspection at the primary business office of the IIRA and posted on the city's website; and, WHEREAS, the Plymouth HRA is required to complete and submit a signed 50077 CR, Civil Rights Certification on an annual basis. NOW, THEREFORE, BE IT RESOLVED BY THE HOUSING AND REDEVELOPMENT AUTORITY OF THE CITY OF PLYMOUTH, MINNESOTA, that the public hearing was held and the proposed changes to the Administrative Plan were duly reviewed and approved by the HRA Board. As such, staff is authorized to submit the Civil Rights Certification, 50077 CR to HUD. Approved this 27th day of September, 2012 by the Housing and Redevelopment Authority in and for the City of Plymouth, Minnesota. Civil Rights Certification U.S. Department of Housing and Urban Development Office of Public and Indian Housing Expires 4/30/2011 Civil Rights Certification Annual Certification and Board Resolution r1 izag-oir iertre f,Elze--e rr f-C rrzrrrtssiorzelL,o Ize c;rFic]`7aaf sirzg Ig rze}FR 4j-l t belai', .,-U,ir r errr-eou eflzera tr.$erQF-real-kfflz^r rso-s z e :rrMzi sto:zz lgf o>i taz r,s Y srrs la'{rr:z fe, tis f3 Ift af-tivlaielzz rts cineauzzerzli-expa,r,zdnz lFe-dlaef FFel,stzg rat ra;o;z;gre nzerzt-vrtzr-[Iz b^ar4'Nze zt-e bl rs rzgrxrze/-Ur:z Dev le r:r rzF Y fDj ttre rzrzeeltorzjtfi#Irt/ze uFrrziar tref#Fr;r:c i;p;zrsYe:rrtr Not applicable as we are a qualified housing authority, The PHA certifies that it will carry out the public housing program of the agency in conformity with title VI of the Civil Rights Act of 1964, the Fair Housing Act, section 504 of the Rehabilitation Act of 1973, and title II of the Americans with Disabilities Act of 1990, and will affirmatively further fair housing. Plymouth HRA PHA Name MN170 PHA Number/HA Code 1 hereby certify that all the information stated herein, as well as any information provided in the accompaniment herewith, is true and accurate. Waming: HUD will prosecute false claims and statements. Conviction may result in criminal and/or civil penalties. (1 S U.S.C. 1001, 1010, 1012; 31 U.S.C. 3729, 3802 Name of Authorized Official Jeffrey L KUlaszewicz Title HRA Board Chairman Signature Date 09/27/2012 form HUD -50077 -CR (1/2009) OMB Approval No. 25770226 When the Head of Household voluntarily relinquishes the voucher rental subsidy for any reason, the Housing Choice Voucher assistance terminates for the entire family. Remaining Member of a Tenant Family [24 CFR 5.4031 The HUD definition of family includes the remaining member of a tenant family, which is a member of an assisted family who remains in the unit when other members of the family have left the unit. Household members such as live-in aides, foster children, and foster adults do not qualify as remaining members of a family. If dependents are the only remaining members of a tenant family and there is no fainily member able to assume the responsibilities of the head of household, see Chapter 6, Section 6-L3, for the policy on "Caretakers for a Child." 3-I.D. HEAD OF HOUSEHOLD [24 CFR 5.504(b)] I -lead of household means the adult member of the family who is considered the head for purposes of determirring income eligibility and rent. The head of household is responsible for ensuring that the family fulfills all of its responsibilities under the program, alone or in conjunction with a co-head or spouse. HRA Policy The head eut-of household can only be changed in the case of medical or mental necessity. The head of household must have the legal capacity to enter into a lease under state and local law. 3-I.E. SPOUSE, CO-HEAD, AND OTHER ADULT A family may have a spouse or co-head, but not both [HUD -50058 IB, p. 13]. Spouse means the marriage partner of the head of household. HRA Policy The term "spouse" does not apply to fiiends, roommates, or significant others who are not marriage partners. A co-head is an individual in the household who is equally responsible with the head of household for ensuring that the family fulfills all of its responsibilities under the program, but who is not a spouse. A family can have only one co-head. HRA Policy Friends, roommates, significant others, domestic partners and minors who are emancipated under state law may be designated as a co-head. Other adult means a family member, other than the head, spouse, or co-head, who is 18 years of age or older. Foster adults and live-in aides are not considered other adults. 3 -LF. DEPENDENT [24 CFR 5.6031 A dependent is a family member who is under 18 years of age or a person of any age who is a person with a disability or a full-time student, except that the following persons can never be Plymouth 11RA Page 3-3 HCV Administrative Plan hold qualifies without the household add-on. If a voucher holder voluntarily gives up the voucher rental subsidy, the household add-on does not have any rights to the voucher. 5-II.C. EXCEPTIONS TO SUBSIDY STANDARDS 44RA Paliev of a ..l The 4;,ly must request any wceeption to the subsidy standards in wFiting, The f equest, must explain toe need a4tjtis6fieation far .,ai,gef fa„„l,, ,,,,,t size,e- and must in lud a, -a1 a kno Arledge-able-proffessional souree (e.g. aleetor or health ., e f ,,.,ion ), , „ ess disabiml4y and t4e disability related request for accommodation is readily ap-ppxeiA or Otherwise knw Ax l x fnedieal e [ Fee„ GL1T-1aust be.Fe vefiSSed at annual Feema i. II'C€tien. The family must ha exhauster -1 all -I 1--easoaable means and submit doemnentation of sucli before the HRA will appreve an exception. T4e .,l.t, a er,,.i,,,- e- t m,,e appr-oviB-g the . bedfoom. Thei,eafteF, the i+eed fai, the bodFoom will he used for the -ea-'” to pkjjT see xra re s.,b ; a...,: ,,a ..a , d days 4 Fel family'sthe f .,, y of their- sr;g t to request a informal hearing assigned payfne„t standard of the to nnr o, the i-„,!, -411 he, applied to dole. ei ass In determiniri- faniily unit size fora particular family, the HRA may grant an exception to its established subsidy standards if the IRA determines that the exception is justiFied by the age, sex, health, handicap, or relationship of family members or other personal circumstances [24 CFR 982.402(b)(8)'J. Reasons may include, but are not limited to: For a single person who is not elderly, disabled or a remaining family member, an exce tion cannot override the regulatory limit of a zero or one bedroom [24 CFR 982.402(b)(8)). Plymouth HRA Page 5-9 HCV Administrative Plan 1 Y Pird WY V Y i RUM 1 6, =FATMARTALNO 44RA Paliev of a ..l The 4;,ly must request any wceeption to the subsidy standards in wFiting, The f equest, must explain toe need a4tjtis6fieation far .,ai,gef fa„„l,, ,,,,,t size,e- and must in lud a, -a1 a kno Arledge-able-proffessional souree (e.g. aleetor or health ., e f ,,.,ion ), , „ ess disabiml4y and t4e disability related request for accommodation is readily ap-ppxeiA or Otherwise knw Ax l x fnedieal e [ Fee„ GL1T-1aust be.Fe vefiSSed at annual Feema i. II'C€tien. The family must ha exhauster -1 all -I 1--easoaable means and submit doemnentation of sucli before the HRA will appreve an exception. T4e .,l.t, a er,,.i,,,- e- t m,,e appr-oviB-g the . bedfoom. Thei,eafteF, the i+eed fai, the bodFoom will he used for the -ea-'” to pkjjT see xra re s.,b ; a...,: ,,a ..a , d days 4 Fel family'sthe f .,, y of their- sr;g t to request a informal hearing assigned payfne„t standard of the to nnr o, the i-„,!, -411 he, applied to dole. ei ass In determiniri- faniily unit size fora particular family, the HRA may grant an exception to its established subsidy standards if the IRA determines that the exception is justiFied by the age, sex, health, handicap, or relationship of family members or other personal circumstances [24 CFR 982.402(b)(8)'J. Reasons may include, but are not limited to: For a single person who is not elderly, disabled or a remaining family member, an exce tion cannot override the regulatory limit of a zero or one bedroom [24 CFR 982.402(b)(8)). Plymouth HRA Page 5-9 HCV Administrative Plan HRA Policy The HRA will considerrag_lting an exception to subsidy standards only during the time of annual reexamination. The family must request any exception to the subsidy standards in writing, The request must explain the need or justification for a larger family unit size, and must include appropriate documentation. Requests based on health-related reasons must be verified by a knowledgeable professional source (e.g., doctor or health professional), unless the disability and the disability --related request for accommodation is readily apparent or otherwise known. The family's continued need for an additional bedroom due to special or large medical equipment which cannot. be placed into the current bedroom or living room must be re - verified at annual reexamination. The actual equipment must be verified by the HRA before approving the additional bedroom, Thereafter, the need for the bedroom will be determined annually during the inspection of the urn't. If the extra bedroom is not being used. for the intended purpose. the HRA will reduce the subsidy standard and corresponding_p_ayment standard at the family's next recertification. The HRA will notify the family of its determination within 10 business days of receiving the family's request. If a participant family's quest is denied, the notice will inform the family of their right to request an informal hearing_ The -family mqy select a_rental Lunt which is larger or smaller than the assigned subsidy standard. If the unit selected by the family is different than their voucher size, the payment standard of the lesser of the two hill be applied to determine the housing assistance payment. 5-II.D. VOUCHER ISSUANCE [24 CFR 982.302] When a family is selected from the waiting list (or as a special admission as described in Chapter 4), or when a participant family wants to move to another unit, the HRA issues a Housing Choice Voucher, form HUD -52646. This chapter deals only with voucher issuance for applicants. For voucher issuance associated with moves of program participants, please refer to Chapter 10. The voucher is the family's authorization to search for housing. It specifies the unit size for which the family qualifies, and includes both the date of voucher issuance and date of expiration. It contains a brief description of how the program works and explains the family obligations under the program. The voucher is evidence that the HRA has determined the family to be eligible for the program, and that the HRA expects to have money available to subsidize the family if the family finds an approvable unit. However, the HRA does not have any liability to any pasty by the issuance of the voucher, and the voucher does not give the family any right to participate in the HRA's housing choice voucher program [Voucher, form HUD -52646] A voucher can be issued to an applicant family only after the HRA has determined that the family is eligible for the program based on information received within the 60 days prior to issuance [24 CFR 982.201(e)] and after the family has attended an oral briefing [HCV 8-1]. Plyinouth HRA Page 5-10 HCV Administrative Plan Smoke Detectors and Carbon Monoxide (CO) Detectors Smoke detectors must be installed in accordance with and meet the requirements of the National Fire Protection Association Standard (N -FPA) 74 (or its successor standards). If the dwelling unit is occupied by any person with a hearing impairment, smoke detectors must have an appropriate alarm system as specified in NFPA 74 (or successor standards). According to Minnesota Statute 299F.50 effective August 1, 2008, Carbon Monoxide alarms are required of all existing single family homes. Effective August 1, 2009, CO alarms are required for all multifamily housing, including duplexes through apartment complexes. These alarms must be installed in accordance with the manufacturer's installation instructions. Hazards and Heath/Safety The unit, interior and exterior common areas accessible to the family, the site, and the surrounding neighborhood must be free of hazards to the family's health and safety. Plymouth HRA Page 8-19 HCV Administrative Plan The unit does not meet HQS size requirements due to change in family composition [24 CFR 982.403] — see chapter 8; The unit does not meet HQS [24 CFR 982.404] — see chapter 8; The family breaks up [HUD Form 52641] — see chapter 3; and, The owner breaches the HAP contract [24 CFR 982.453(b)] — see Section 13-II.D. If the HRA terminates the HAP contract, the HRA must give the owner and the family written notice. The notice must specify the reasons for the termination and the effective date of the termination. Once a HAP contract is terminated, no further HAP payments may be made under that contract [HCV Guidebook pg. 15-4]. HRA Poli In all cases, the HAP contract terminates at the end of the calendar month that follows the calendar month in which the HRA gives written notice to the owner. The owner is not entitled to any housing assistance payment after this period, and must return to the HRA any housing assistance payment received after this period. If the family moves from the assisted unit into a new unit, even if the new unit is in the same building or complex as the assisted unit, the HAP contract for the assisted unit terminates. A new HAP contract would be required [HCV GB, p. 11-17]. When the family moves from an assisted unit into a new unit, the term of the HAP contract for the new unit may begin in the same month in which the family moves out of its old unit. This is not considered a duplicative subsidy [HCV GB, p. 8-22]. 13-ILF. CHANGE IN OWNERSHIP / ASSIGNMENT OF THE HAP CONTRACT HUD -52641] The HAP contract cannot be assigned to a new owner without the prior written consent of the HRA. An owner under a HAP contract must notify the HRA in writing prior to a change in the legal ownership of the unit. The owner must supply all information as requested by the HRA. Prior to approval of assignment to a new owner, the new owner must agree to be bound by and comply with the HAP contract. The agreement between the new owner and the former owner must be in writing and in a form that the HRA finds acceptable. The new owner must provide the HRA with a copy of the executed agreement. HRA Policy Assignment of the HAP contract will be approved only if the new owner is qualified to become an owner under the HCV program according to the policies in Section 13-I.D. of this chapter. The HRA must receive a sigge4 vff tte ^Te- completed Otiviiership Change fonn SE\ll El the new o -YFrllliistatilig the nameand addFess'F -AP payee eg;otive- da! afi he afissig next -in order to change the HAP payee under an outstanding IIAP contract. Within 10 business days of receiving the owner's request, the HRA will inform the new Plymouth HRA Page 13-13 HCV Administrative Plan Agenda Number 4A PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY STAFF REPORT TO: Plymouth Housing and Redevelopment Authority FROM: Jim Barnes, Housing Manager and Denise Whalen, Support Services Manager through Steve Juetten, Executive Director MEETING DATE: October 25, 2012 (recessed from the September 27, 2012 meeting) SUBJECT: 2013 Draft HRA Budgets BACKGROUND: In the summer of each year, staff begins the process of developing the following year's budget. As you recall, the City initiated a two year budgeting program in 2008. This is being done so that the City can better prepare for expenditures in the future, which will aid in long-term strategic planning. In July and August, staff reviewed the 2012 budget to ensure they were in line with revenues and expenditures, which they are. The 2013 budget is the second budget year of the 2012-2013 biennial budgets. The HRA budgets are included in the budgets submitted to the City Council. HRA activities are covered by three separate program budgets: the Community Development Block Grant (CDBG), Section 8, and the HRA General Fund. The CDBG budget is supported primarily by federal funds, except for some overhead (such as allocations for data processing and facilities management), which are funded through the HRA property tax levy. The Section 8 program is supported entirely with federal dollars and the HRA General fund is supported almost entirely by property taxes. The senior building budgets will be reviewed in October. The Council traditionally adopts the HRA's budget as part of the overall City budget. The HRA has authority over the HRA General Fund and Section 8 program budgets; however the City Council is the Grantee for the CDBG program so they have more authority over that program budget. The Council also has authority over the amount of the HRA property tax levy, so ultimately they control the main revenue source for many HRA programs. For the 2013 budget year, the HRA overall tax levy is proposed to be $551,277, which is the same amount as the past four years. CDBG (250) There are no significant changes to the CDBG budget being proposed for 2013. Staff is anticipating the 2013 federal awards to be similar to the 2012 allocation. The actual amount will not be known until the second quarter of calendar year 2013. The property tax support for this budget is currently at $23,514 for 2013. This is slightly higher than the amount for 2012 and is a result of increases to the allocations that the City charges back to the program. SECTION 8 (254) The Section 8 budget reflects the continued operation of the housing choice voucher program. At this time, staff does not know what the funding allocation will be from Housing and Urban Development (HUD) for 2013. Staff anticipates that the funding received will be adequate for housing assistance payments (HAP) but not for administrative fees of our 225 vouchers as outlined in the Section 8 Study report that was presented to the HRA Board on July 26, 2012. The administrative fees received for this year were ultimately funded at 83 percent and at this time staff anticipates that the administrative fees for 2013 will be funded somewhere between 79 to 83 percent. There are sufficient funds in the reserve account to cover any shortage in the 2013 budget. The proposed budget contains a $26,157 transfer from reserves to cover any shortage in administrative expenses. As previously outlined in the Section 8 Study report, staff had estimated $27,057 being transferred from reserves for 2013. There are some minor changes to the 2013 budget compared to the 2012 adopted budget primarily increasing or decreasing certain line items to more accurately reflect current trends for revenues and expenses. Staff continues to monitor revenues and expenditures closely for 2012. As of the end of August, expenditures exceeded revenue by $153,517. Of the $153,517, Administrative expenses exceeded revenue by $1,122 and the difference of $152,395 was for HAP expenses that exceeded revenue. As outlined in the July Section 8 Study report, HUD has offset our HAP funding due to the mandatory spend down of the Unrestricted Net Assets account. HRA General Fund (258) Staff is recommending a slight decrease to the 2013 HRA General Fund Budget. The amount of assistance budgeted for the senior buildings are the primary reason, with a decrease of $5,335 to that line item. While the entire $315,149 budgeted for the senior buildings may not be needed, staff is of the opinion that it is better to be cautious and ensure that the senior buildings will be able to cover the needed expenses throughout 2013. If there is excess funds in the HRA General fund budget as a result of the senior building budgets, staff recommends that the Board consider placing the funds into the Vicksburg Crossing Reserve/Replacement account due to the projected shortfall in that account that was identified when the Reserve/Replacement schedule was created in 2011. RECOMMENDATION: Staff recommends that the Plymouth Housing and Redevelopment Authority Board of Commissioners discuss the 2013 HRA budgets and recommend that the City Council adopt the 2013 HRA preliminary budgets. ATTACHMENTS: 1. HRA Levy History 2. 2013 HRA Preliminary Budgets 3. HRA Reserve account(s) balances O:1coinmdevlhousiilglhFalstaffreport/HOUSINGIIIRAISTA1 l.'REP\HPA12069/2010-2011 Budgets 092409.docx HRA LEVY HISTORY Percent Increase from Levy Year Amount Prior Year 2013 (Proposed) 551,277 0% 2012 551,277 0% 2011 551,277 0% 2010 551,277 0% 2009 551,277 5.11% 2008 524,477 4.14% 2007 503,617 7.22%) 2006 542,835 10.65%) 2005 607,556 4.33% 2004 582,349 5.48% 2003 552,120 2.54% 2002 538,423 11.43% 2001 483,178 4.06% 2000 464,344 4.06% 1999 446,214 8.84% 1998 409,959 4.85% 1997 390,997 1.88% 1996 383,789 0.15% 1995 383,200 1.64% 1994 377,000 2.81% 1993 366,700 E N a x 0 0 0 0 I %D N Q 1 N 10 M O C) O Ir N O N 00 O M Ln Ln rN ID 00 O Ln D+ r Ln r N lD N r Ln r' r r N r r M c m u n w LL O O 0 O O Q 0 O O O O C) 0 0 0 C) 0 0 O O O O O O Ln O L- O lD 00 MO 00 Ln Ln M M Q N r .- N O 0% r 10 rn r D r r NM Ln O 0 Q 0 O O Q L- L- i-• Ln N 0% O 00 N ID 00 O O O O N ID 00 00 Ln Q Ln Ln 00 M Ln O Ln D+ r Ln r lD N r r r r M T! 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W IL v=i Ud4 'L 7 d N N N O_ O to Lr d C C 0 yam„ , a IL l{j N J to ' ' d V 41 0 A N 7 C.• y 0 On Q C 7- u a y R ' O U u U U U U u •C Cc0CCCCC b 10 w m m v m v m 0 0 CA u E o O o o o o ] bwEvo ' o V)mmmmin m: a O_ 00o W a daaaaaa :xc L O O O O d V d O N V .D h 0 O c O_ O O_ O O O d_ d d M: 7 L r N N O r O- O E 0 0 0 O O O O O O O d O 0 o M M O d o 0 0 0 0 0 0 0 0 -- u C 0 0 to to In u-1 In .D .p 00 00 O O to O O O O O O O O O O O O r z 0 0 0 0 0 0 0 0 0 0 0 m In 0 0 0 N O O Q O 0 0 0 Ln O+ V• D .D .0 .D .D .D .D n .o %D %D o .D a !` rl n n n rn a a+ a, c a+ c rn IT 01 7 n n M V V v N O N N co O M on fQ CL V O o O O o 0 o O o O O O O ' ' O 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 CL Ifl O- C 0 0 0 0 0 0 0 lil O O N M M N O O O O O N N Q vi IPl N r V N m c O O N u m .o O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 COD Q N O O ulul 0 V lfl vl p O Q o O p m C to M h cp z P 0 0 0 0 0 M t li 1 D 111 N ry N T N T N N Ua 7p E 7 rn 0 00, 0 C. 0 0 0 0 0 ' E 111 m r V N 0 0 0O 0 0 0 0Vul `Q r N 0 O O O O r I[l Q00 0 M V M r 0 O- O m 0 h M to u r O [ Q N Cwnannnnnnnna n n n n a a UpJ r O O O O O O O O O oO O O O lfl O 1iI O O_ O_ O O_ O O O 11l O O ON h aM M N O O O O O N N P 1 IPS N r h O N m O N a N m r Q a C a c U C C C C C C L L L L c L L C C C V O o O O o 0 o O o O O O O ' ' O 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 CL Ifl O- C 0 0 0 0 0 0 0 lil O O N M M N O O O O O N N Q vi IPl N r V N m c O O N u O o 0 0 0 0 r a 0 0 0 O 0 0 O 0 0 O a o 0 0(, 0N N 0N N ON ON ON oN 0N 0N 0N 0N 0N N0 0N N0 0Nr- O O O O O O O O O O O O O O O O O O O O O N h N N ON N N N O 0 0 O rq O O N N O R ' V rti P V P V' P t t 4 Q 4 7 t rti V P 4 0 0 o r r IV M 7 Irl o h m p. p r N m '•t IPI O O O O O O uO O O O O O O O r rpo00000000000000 (D C) 0 0 0 0 M m M m m O O O O O O O O O O o O o o O p O O O O N N N N N N N N N N N N N M m m M m m m m M M M M M M M m M M m M F O O O O O O O O O O O O O O O O O O O O OU O o O O O O O O O O O O O O O O O O O O V til Irl 111 1l 111 Il} 111 417 V'1 Ifl Iil Ifl I!1 Iil 111 111 If] l•1 lP5 Yl a N N N N N ry N N N N N N N N N N N ry N N m .o O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 COD Q N O O ulul v V lfl vl p O Q o O p m C to M h cp N 0 N P 0 0 0 0 0 M t li 1 D 111 N ry N T N T N N Ua 7p m 7 7 Q c7 m L7 ca l7 0 0 0 0 l7 L7 0 0 0 0 7 rn 0 00, 0 C. 0 0 0 0 0 ' 111 m r V N 0 0 0O 0 0 0 0Vul `Q r N 0 O O O O r I[l Q00 r M V M r 0 O- O m 0 h M to 4 r O [ Q N Cwnannnnnnnna n n n n a aQ to V V O o 0 0 0 0 r a 0 0 0 O 0 0 O 0 0 O a o 0 0(, 0N N 0N N ON ON ON oN 0N 0N 0N 0N 0N N0 0N N0 0Nr- O O O O O O O O O O O O O O O O O O O O O N h N N ON N N N O 0 0 O rq O O N N O R ' V rti P V P V' P t t 4 Q 4 7 t rti V P 4 0 0 o r r IV M 7 Irl o h m p. p r N m '•t IPI O O O O O O uO O O O O O O O r rpo00000000000000 (D C) 0 0 0 0 M m M m m O O O O O O O O O O o O o o O p O O O O N N N N N N N N N N N N N M m m M m m m m M M M M M M M m M M m M F O O O O O O O O O O O O O O O O O O O O OU O o O O O O O O O O O O O O O O O O O O V til Irl 111 1l 111 Il} 111 417 V'1 Ifl Iil Ifl I!1 Iil 111 111 If] l•1 lP5 Yl a N N N N N ry N N N N N N N N N N N ry N N N a Q O C ' 0 0 0 0 0 0 0 0 0 0 oO D] O Iil h h O P 0 0 0 0 0 0 0 0 0 0 Iil rt O N h C 0 m m M O m 0 0 0 IPI O O IliO O O Q Ifl N lil h `d 00 M N O IIl lil m 0 b a C O o 0 0 0 0 r a 0 0 0 O 0 0 O 0 0 O a o 0 0(, 0N N 0N N ON ON ON oN 0N 0N 0N 0N 0N N0 0N N0 0Nr- O O O O O O O O O O O O O O O O O O O O O N h N N ON N N N O 0 0 O rq O O N N O R ' V rti P V P V' P t t 4 Q 4 7 t rti V P 4 0 0 o r r IV M 7 Irl o h m p. p r N m '•t IPI O O O O O O uO O O O O O O O r rpo00000000000000 (D C) 0 0 0 0 M m M m m O O O O O O O O O O o O o o O p O O O O N N N N N N N N N N N N N M m m M m m m m M M M M M M M m M M m M F O O O O O O O O O O O O O O O O O O O O OU O o O O O O O O O O O O O O O O O O O O V til Irl 111 1l 111 Il} 111 417 V'1 Ifl Iil Ifl I!1 Iil 111 111 If] l•1 lP5 Yl a N N N N N ry N N N N N N N N N N N ry N N mM i QJ C a m 0 b a C 7p m 7 7 Q c7 m L7 ca l7 0 0 0 0 l7 L7 0 0 0 0 m m x m x m m m m m m m m m m m m m a o w o 0 0 0 0 0 0 0 o n o o d o u u w u u u u u u u u u u u u u u on aI w on w on an on w m w an m w w on an m C C CC C F C F F C C C C F F C C C y i 4 u - + . u -+ +-+ r + IO 10 A 10 A 10 lL6 1O 1LO b ILO 5a ILO 10 tO 10 A O [ c m al m m w m v m m w m m w m m m Cwnannnnnnnna n n n n a aQEOOOOOo000000000oao V V A j 1O la 16 IO ILO ILO lL6 b IVa b N R !O ILO ILO !O 10 uatiro t>'• U -E IL LL LaL' LL 1T LL' Iv IL Ii Ii k I- L, W U! 4i li C a c U C C C C C C L L L L c L L C C C O OL t5aCyvNNN> w N N N N m tU N N N N O O O O O O O O O O O O O O O O O O O11 N o!1 pn 011 0!1 Dn OJI dl ah LIl 611 LII L11 ofi M o!1 OnVaI v D o c X N v aa` n u w-7 ZcFnO ,-a N w aInJJJJapOOOyy0uInmxx «. L C T Ov CO v R C C? is m D on > _ y —— n E EaLm U C7 IV al '- i+ Q U L V C E F mV N 111 y O ` E Omoa=alEm L z r -C x x m a w v o Y o 0 N a w a c> E E m a c E rn T N E E E>> L 0- a L E E E E E 0 v v a o o --- u ro aliuzolix°a- L aaaxxiE ii v 0- O o 0 0 0 0 r a 0 0 0 O 0 0 O 0 0 O a o 0 0(, 0N N 0N N ON ON ON oN 0N 0N 0N 0N 0N N0 0N N0 0Nr- O O O O O O O O O O O O O O O O O O O O O N h N N ON N N N O 0 0 O rq O O N N O R ' V rti P V P V' P t t 4 Q 4 7 t rti V P 4 0 0 o r r IV M 7 Irl o h m p. p r N m '•t IPI O O O O O O uO O O O O O O O r rpo00000000000000 (D C) 0 0 0 0 M m M m m O O O O O O O O O O o O o o O p O O O O N N N N N N N N N N N N N M m m M m m m m M M M M M M M m M M m M F O O O O O O O O O O O O O O O O O O O O OU O o O O O O O O O O O O O O O O O O O O V til Irl 111 1l 111 Il} 111 417 V'1 Ifl Iil Ifl I!1 Iil 111 111 If] l•1 lP5 Yl a N N N N N ry N N N N N N N N N N N ry N N 1n co PO V'] r- P PQ { N 'D V `D h Cs] o M h - M h o { Ifl N h h M r q. M Q N r P .D e-- T r p r N NG0Nrnp+ r W In r M P] Cl N Q D r P M M lc Ifl lr q R O MD r r N r m Ill M M r ul Q r N _ N Q N nI I+l C C 07 0E c o L o ^ E o = o 0 0 c = y 0 [ O p U 01 01 0 CO CO V O C Ec E c 1 ac Zu v u° T d T C V C E y O LadoaynvonHcvaEwa a c > 0 L].. y a d W C E an C C m C • v m d E A n O 7 C7 cloEvvvvcCkZcwcmLoLLJ E v v o E vExoNom .a' a o m c u W u u u LLI 0 V 0 vv ai w v u o c c a o E J? a° _ n v m m L v v tl ci c N U R 7 7 v L O 7 0 4 V O v Cai N a' 7 _ V C C 7 7 10 U C C j 7 "0 t 7 7 C C v v m C 'a:+ d a C li `C F-' u rr j 0n m Q R C C j ro y p w Ol J d o d L ro O!1 O 'V L, 7 — 011 'v - 7 D C a c v wv a fi avC c ro o n _0 0 0 o a O v n a p c 4 voi a p c w a v v M m m J M a a 7 °c" : -- - 4v ¢ v E 1 m J a v v J R J v a a v m n a aj o m m+ `o E u u u ulu v n[ C v v d v d .0 u Cl a N G C C C o O E J OLI V E C O O o 0 0 0 0 R O N C C C C C O ` L C C C C C 7 v m ro v m v v v v v w E v v a'[ 'o m> v v v v v ^ v ro ro v v m v v v v p In m m m m m ZE 0 0 0 Lu J Q cG u 4 Q Q a 0 0 0 Q }- y-, q m m m m mm m m m :E l7 E E E E E E E E E E on w o`n w on w on w p`n w a a o 0 a 0 0 0 0 0a. d a d a a d d li a C C C C C C G C C C C C C C C C C C C C C C m m m 10 0 0 10 0 0 ro m N m m m m m m m0000oaaao00000000000000 C C C C C C C C C C c C >. 0 >. 0 n >. T 0 M M777777777 4 L L L L t7 [.7 C7 C7 l7 Cry l7 l7 l7 C7 l7 l C7 N Ql v v N 01 v N a m v n n n n a n n a a n E E E E E E E E E E E s m m ro ro m m m m m m m m o 0 0 0 0 0 0 0 0 0 m v v v v v w v v vv v v vZQ' d w d' K tY d' ' d' (Y O-' a' (Y v N v W O 01 01 v O N on on on rn an an on an on on rn m onE E EETiCC_ _C C C _C C C_ C C_ _C C C C C C C C C C C C C C C C C C C C C C on E E E E E E E E E E E E E E E E E E E E E E E E E E o E > a" 45 Trrn u v v_u a v o 0 o o o o 0 0 o 0 o 0 y a Q Q G Q Q Q¢ Q Q Q¢ G 4 Q Q Q Q Q <Q Q Q Q Q Q Q 2 2 i 2 S Z T X Y 2 T S 2 li ii E U- LL L. li. ii iL ii 0 o O p O Q Cl O N Q .p h 0 0 O O o o O O Cl Cl --- o cpOOOOOOOO_ 4 o O d O O r M O_ o_ O_ O O O O_ O_ O_ _O O_ p p pN — 'D r N Nrrrr N N p o p o 0 0 o G o G o G o G M q rl o o 0 0 0 0 0 0 0 Ci G o o 0 0 0 0 0 G o G o T o 0 0 0 0 0 0 0 0 00oulIfrIilItlIll `D c0 00 m .D vo wOO- O O 0 0 0 o G o O O O O O p N — Ill ll's Ifl Ill +D .o Op r o O Iel Ifl I!'1 I!'] I!'] O O O O O O O o 0 0 0 ,]!Oul In p O p r N O O O 0 0 O O m O O O O O O o 0 0 p O o P o O O O O O O O O ov7 "O `D '!i IO 19 -O T T 'O T P T P [T P T P T +D `D D +Il O "? m -? "D O -O 'D D T TCOOOOOOOO00OO0OOOOOOOOpOOOOOrrrNNNNNNNNNNWOOO0OOo0oOOOOOOOOopOpOoOOClOOoopppOoOOOOooOpOOOOoOOdOOOOooCoGOOOOOOopOO0OoOOoOoO0OdooOOOOOOpOOoOooOOOOO E m" N N N NM N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N 9 N NMMMMMMMMTrlMMMMMMmMMMMMMMMMMMTMMMmMl+] M l+] M M M M7OOOOOo0opppOooOoOOOOo M M o O o O o O O O O O o p o o O o o O O O O O O o O o O 0 oZNNNNNNNNNNNNNNNNNNNNNNNNNNN m N N_ N N N N N N N N N N N N N N N" N N N N N17, M M M m M M M M M M M M M M M M M M M 12 M T M M m M M M M M M M. m M M rl m M M M M M C o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 0 0 0 0 0 0 0 0 O 0 0 0 0 Cl 0 0 o g o 0 0 0 0 0 0 0 0 0MMMMMMMMMMTMMMMMMMMMMMMflMMMMMmMMMMMMMVoOOo0oOOOOOOOooO0OOOOOOpoQpppppOOOOopO0OooOOOOOOOoVYlul ry Ifl Ifs Ifl Yl LLl Yl I!l ul I%I lfs Ifl Ill Vl II1 Ll Ifs Sl'1 Ifl Vl II1 Vl L1 Yl Vl If} l+'1 l!S Vl Ifl Vl lf} Vl Ill IJ1 Sl] VlQNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNryNNNNN 0 z E E 0u 0 0 0 0 0 0 ' n ul 1 rA ' o, O O O r ` + O y q 0 P Iil m Q D r O N N N N OM O Q O O o o h o N N c, Q O h Q 'T Co V1 tb ry Q M h h Q N a] IIl M P amCr r Q P N Q r r q r r v o co N E i a u: vl co o h o G o o 0 0 0 0 vl to rn o 0 o r a N m P o O o v ' y,fa Q O P lfl GO Q N O O P o 0 o 0 r h 0 M N N P '- o0 Q Oh Q cp M r cd N Q M h h Q .o V V O. oC N Q M h .D V N v r r m M Q r r C O r N O NV u't Cl m M Q r- O O ' O h O O O O M li ) ' N h ' h o ol D r O n o O Il'1 h If f N'r O` C N N N N Of'l O o` 0 0 0 0 r h C M N N QP N w Q m m P M O Q q IO W Q M P P M 0 7 M 'O `'l CN N r r r q h ''i O` Q r OO N NQ IIl N M h. M m • M P O o` In O ' N N O Ill M Q P N O M ' N Op OCoNNPO O N r 7 0 O• h Q h O j O 'D M ul N M ul P M m IX] M r 4l M ! rn r w Ip w .D N N h N r r V N v D r r N Q N V OQN r 1n co PO V'] r- P PQ { N 'D V `D h Cs] o M h - M h o { Ifl N h h M r q. 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L fu uiQ m raw a ai E a a C E O LO Ofa2 O b0 p LO 0 v v 1 LIIN c v m E C a a U i2 x F" m C b0 LO V E V N v 2 u D CO A= b 4 0 p N V TJ VI C N ID O0 m L d C a QW SD q f9 IO m d Iynmzv a a II ccb.D m'3 O LL C d C C A y L-+ LL m 7 Li aNla awl Oj O av+ Q co 7 vOi oa m 3 DO C bD C G E ii fo fV Q d C C-1 C C 3 Q IZ --• V F v N 1/1 1/7 C C c > a j r IZ ..O Li.liQ rr w F Q 1-4 l? 0O 10 xaxKW ti voj O Agenda Number -T + b • PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY STAFF REPORT TO: Plymouth Housing and Redevelopment Authority FROM: Jim Barnes, Housing Manager through Steve Juetten, Executive Director MEETING DATE: October 25, 2012 SUBJECT: Plymouth Towne Square — Approve 2013 Operating Budget BACKGROUND: Staff has reviewed the budget for Plymouth Towne Square (PTS) submitted by Grace Management for the operation of the property for January 1, 2013 through December 31, 2013, including a current estimate of actual expenditures for 2012. After discussions with internal staff and Grace Management, the attached operating budget is ready for review and approval by the HRA board. 2013 BUDGET: Revenue: Overall revenues for the 2012 budget are based on maintaining occupancy of 98%. Income is also received from garage rentals, application fees, and investment income. Rental Revenues for 2012 are anticipated to be $644,057. The overall income for the building is projected to be $912,037. Staff is recommending that rents be increased for the 2013 budget year. This will assist the HRA in meeting projected expenditures while lessening the burden of tax payer subsidy from the levy. The levy for 2013 is projected to be $206,000. Expenditures: Staff has reviewed the 2012 year-to-date budget and contacted our vendors to arrive at the anticipated 2013 expenditures. Excluding the capital items, the overall expenditures will decrease by 16 percent. This is due primarily to large expenditure for boiler replacement in 2012. When you remove the capital expenditure from the equation, the total operating expenses will increase ten percent. While this seems like a large increase, the Crossover refunding that was completed in 2012 will offset this increase. Reserve/Replacement Account: The 2013 budget anticipates adding $84,000 to our replacement reserve account, which is the same as last year. In 2011, staff updated the Reserve/Replacement schedule to ensure that there is sufficient capital set aside to maintain the property over the long term. Staff is proposing a number of capital improvements to the building in 2013 including the replacement of some appliances, purchasing a recumbent bike for the exercise room, window replacement and upgrading the cable/antenna for the building. RECOMMENDATION: I recommend that the Plymouth Housing and Redevelopment Authority Board of Commissioners adopt the attached resolution approving the 2013 Plymouth Towne Square Operating Budget. ATTACHMENTS: 2013 Budget Assumptions 2013 Budget Resolution Approving 2013 Plymouth Towne Square Operating Budget PLYMOUTH TOWNE SQUARE 2013 Budget Assumptions Draft REVENUE: Resident Rent Revenue is calculated with a 2% increase over total monthly collections based on July 2012 rent. The other assumption made is that we will budget 98% of this number each month to allow for vacancy & rent changes based on new residents income. All current residents will be subject to a 2% rent increase on January 1, 2013. The minimum rents are proposed to increase 2% to $388 for a one -bedroom (up $8) and $520 (up $10) for a two-bedroom, The market rate rents are proposed to increase by 2% at $835 for a one -bedroom and $1200 for a two-bedroom based on market study. HRA Subsidy The HRA subsidy will decrease to $206,000 for the year 2013. This decrease is due to reduction in interest expense incurred with the bond restructuring. Garage Rental is based on 64 stalls leased at $45 a month each. We do not recommend making a change to this rate in 2013. Guest Room Revenue is based on 3.5 nights rented per month at $55 a night (increase of $5/night). This estimate is reasonable using an average of the past several years. L.aundor Revenue is based on the trailing 12 months with a slight increase. Transfer Fee Income is budgeted for one internal move at $500 each. Application Fee Revenue is budgeted at 1.5 individuals (we process a background check on each person occupying an apartment) a month. We pass on the expense incurred for rental verification (credit check & criminal background check) to the prospective resident. The corresponding expense is included in the Legal and Other Professional line item. Investment Income & Unrealized Gain/Loss is a figure provided by City of Plymouth Finance Department. Miscellaneous Revenue includes any forfeited security deposits due to damage beyond normal wear and tear. We are budgeting based trailing 12 months. Confidential Wage 1 1011212012 OPERATING EXPENSES. Property Administration; Manager Salary is based on $45,000. The position is open as of the writing of the draft budget and assumptions. Maintenance Salaries is based on a lead maintenance position at $16.10 (plus benefits and a two-bedroom apartment) which is a $.10/hour increase. The full-time person is budgeted at 40 hours/week regular time and 3 hours per week over time to account for emergency calls. This position will continue to be split equally between Vicksburg Crossing and Plymouth Towne Square. Maintenance Asst. Salaries includes a part-time maintenance person at $15.20 an hour which is an increase of $.20. The part time person is budgeted at 30 hours a week to accommodate for vacation coverage and emergency calls (scheduled work week is 22 hours for this position). This is an increase in the number of hours budgeted over previous years as both buildings are aging & requiring more maintenance time. This position will continue to be split equally between Vicksburg Crossing and Plymouth Towne Square, Payroll Tax is budgeted at 11 % of the total of all salaries. It includes FICA, FUTA & SUTA. Health Insurance includes healthcare, dental, and life. Health, dental and life insurance are provided to full-time employees if they wish to participate. The employee is responsible for paying 20% of the premium for health and is provided dental and life free of charge. Family coverage is available, but is 100% employee paid. Currently 2 of 3 eligible employees are taking coverage. The amount is based on current premiums as of July 2012 plus an estimated increase by the industry trend of 10%. The benefits cost is allocated to each property in the same manner as the salaries. The amount is higher than the trailing 12 months due to the need to budget a figure for benefits with a new manager as the previous manager did not participate in the health benefits. Worker's Compensation Insurance premium is calculated with actual payroll over the trailing 6 months and estimated 1% increase in premium rates for 2013. This expense is allocated to each property in the same manner as the salaries. Employee Costs include ADP fees, help wanted ads, background checks for new employees. We are budgeting based on the trailing 12 months plus 4% increase anticipated. Dues & Subscriptions includes the price for a Costco membership Confidential Page 2 10/1212012 License, Permit & Dues are based on City of Plymouth assessed fees for the dwelling license for a total of $694 and elevator license fees of $200. No increase budgeted for 2013. Employee Mileage is based on the trailing 12 months. The mileage reimbursement for the maintenance staff is split 50/50 with VC as nearly all of the mileage for these individuals is traveling between the properties. Postage/Overnight Delivery is an estimate based on trailing 12 months plus an extra 65 for mailing to all on waitlist. Management Fees is based on the contract amount. Professional Fees is an estimate based on conducting background checks for new residents (1.5 per month at $35 each), a small amount for legal services; and audit/tax fees as provided by City of Plymouth Finance Department. The 2013 budget figure is equal to 2012 budget. Telephone includes the cellular phones for the caretakers (split with VC) and the incoming lines for the property along with internet and long distance expenses. The budget is based on trailing 12 months figure with a 4% increase Eguipment Repairs/Maintenance/Lease is based the current copier maintenance fees 245/quarter) and Occasional maintenance on the resident and office computers. 2013 budget includes an 6% increase over trailing 12 months. Office Supplies & Expenses include the office supplies for the office and printer cartridges and some paper for the resident computers, The budgeted amount is based on an average over the past several years Bank Charges are estimated. We have included a small amount in the event we need to place a stop payment or other unusual service that may incur a fee Printinct is estimated based on the need for letterhead & envelopes. Seminars/Training is based on attendance at three training sessions @ $100 each. Miscellaneous Property Admin Expense is an estimate. Resident Bernice Expense Resident Service Expense reflect expenses for the monthly entertainment, with bigger events scheduled for Valentine's Day, St. Patrick's Day, Senior month, Night to Unite, Halloween and the Holiday party. It also includes the purchase of table decorations. Confidential Page 3 10/12/2012 Marketing and .easing: The wait lists for one & two bedrooms remain open. However, we have not incurred any material marketing expense, but will continue to budget a small amount in this line item. Housekeeping: Contract Labor is budgeted at the anticipated cleaning company contract rate for 2013 which represents a 3% increase over the 2012 figure and includes the cost of contract cleaning for the guest suite at 1.5 times per month. This was done in-house by previous manager during 2012 which is why the 2013 budget is higher than trailing 12 months and the 2012 budget number. Supplies — cleaning includes paper towels & toilet paper for common area restrooms, trash bags, air freshener, vacuum repair, disinfectant, supplies for guest suite and other supplies. It is budgeted the same as 2012 budget. Buildings and Grounds: Cable TV is based on monthly expense incurred for the TVs in the activity room and exercise room with a 6% increase over 2012 budget. Electric is based on a 4% increase to the trailing 12 months & no real increase over the 2012 budget. Water and Sewer is based on 3% over the trailing 12 months. Gas is based on a 2012 budget. 2011/2012 winter was very light so it was determined we should use 2012 budget figure in the event this winter is closer to normal. Water Softener is based on a 3% increase over the trailing 12 months. Contract Labor is not necessary with a part time maintenance employee who can pick up the time to cover for time off of other maintenance worker. Doors Ke s and Windows is for the miscellaneous window replacement/repairs (not included in mass replacement figures), garage door repairs/service, keys made and any other lockldoor repairs. Fire System Service includes costs to test, monitor and service the fire suppression system (including all manual fire extinguishers,) front entry system and emergency pull cord system. Estimate is based on historical and an additional $1600 for extinguisher service due every 6 years. Confidential Page 4 10/12/2012 Lawn Care/Snow Removal is based on historical. 2011/2012 was an unusually light winter (no snow removal) but also included a large landscape project, therefore comparing to trailing 12 months or previous budget wasn't sufficient. Work includes spring clean up, weekly mowing, weed control, spring/fall shrub trimming, tree trimming, snow fencing and spring parking lot sweeping. Pest Control includes quarterly treatments and is based on PTS current rate plus 2% increase. Additional $5,000 is budgeted for contingency/emergency bug treatment purposes. Trash Removal is based on trailing 12 months with a 5% increase. The fuel surcharges account for a larger increases than the rest of the container fees, taxes and county charges. This also includes the occasional extra charges for disposal of light bulbs and appliances. Unit Turnover includes carpetivinyl replacement or cleaning, contract painter; cabinetry/counter top repair, paint and plumbing supplies, etc. for apartments that are being re-leased or turned over. This figure is determined based on historical with consideration given to the large number of original carpet/vinyl remaining in the building, thus turnover costs are greater per turn when these apartments are needed to be re- leased. Reserve/Rel2lacementICa.pita.1 Expense includes items that will be paid for by transferring money from the Reserve/Replacement accounts. See descriptions below. Elevator Re airs and Maintenance includes contract for maintenance, plus any service calls that may not be covered by the maintenance contract. The 2013 budget figure reflects a 5% increase over 2012 contract plus $1201month for extra service call for contingency. Repairs & Maintenance includes garage floor power washing ($1800), window washing, 3550) carpet cleaning of apartments occupied three years ($1200), painting of apartments occupied more than seven years, vinyllcarpet repair/replacement in occupied units; cleaning of common area carpet annually ($3600), generator maintenance ($2500), plumbing repairs, repairs to the exterior siding, fascia, and roofing and all other misc. repairs. We will repair major drywall cracks in the halls this year ($9,600) & paint remainder of metal trim ($3400). The budget is based on the above and keeping in line with the trailing 12 month figure. Building & Grounds Supplies includes common area paint and repairs, light bulbs, plumbing supplies, tractor supplies/repairs, blinds, guest suite supplies and other misc. supplies. Many of the holiday decorations need to be replaced as they are 17 years old. Air compressor.. additional porch furniture, & grill are on the list this year. Confidential Page 5 10/12/2012 HVAC Supplies & Repair includes all HVAC supplies, repairs and maintenance contract with Owens for the boilers, etc. The 2013 budget is largely increased over 2012 budget due to the need to budget for a large expenditure (condenser or like problem) as we are seeing the need each year to budget for something unexpected with the HVAC system Miscellaneous P&G Expense estimated a minimal amount, Non -Departmental Expenses Property and Liability Insurance is based on 5% increase over 2012 premiums (GL is 14,894 & Prop is $14,731). Payment in Lieu of Taxes (PILOT) is budgeted at 5% of 2012 rental dwelling revenue 639,874 estimate) to be paid in 2013. RESERVE REPLACEMENT FUND We have maintained the reserve replacement amount at $84,000. CAPITAL EXPENDITURES: We are budgeting for the purchase of a recumbent bike ($1800) and .another mass window replacement ($14,400), upgrade building cable/antenna ($8,000), appliance replacements (apartment A1C units, stoves & refrigerators $4,000) Confidential Page 6 10/12/2012 PLYMOUTH TOWNE SQUARE DRAFT 2013 BUDGET TRAILING Percentage Percentage 12 MONTHS BUDGET BUDGET Difference Difference 7/11-6112 2012 2013 Budget 13 Budget13 TOTALS TOTALS TOTALS Trail 12 mo to Budget 12 UNITS OCCUPIED 98 96 97 1% 1% PERCENTAGE OCCUPIED 990/0 97% 98% 1% 1% INCOME RESIDENT RENTS 633,080 607,872 644,057 2% 6% HRA SUBSIDY 228,000 216,000 206,000 10% 5% GARAGE RENTAL 34,565 34,560 34,560 0% 0% GUEST ROOM REVENUE 3,035 2,400 2,310 24% 4% LAUNDRY REVENUE 10,351 9,360 10,680 3% 14% TRANSFER FEE 560 500 500 11% 0% APPLICATION FEE 350 630 630 80% 0% INVESTMENT INCOME 28,137 3,600 10,000 64% 178% MISC, REVENUE 3,368 1,560 3,300 2% 112% TOTAL INCOME 941,446 876,482 912,037 3% 4% PROPERTY ADMINISTRATION: MANAGER SALARIES 45,319 43,000 45,000 1% 5% MAINTENANCE SALARIES 18,173 17,792 18,616 2% 5% MAINTENANCE ASST SALARIES 10,032 9,360 11,856 18% 27% PAYROLL TAXES 7,053 7,717 8,302 18% 8% HEALTH INSURANCE 7,857 6,696 12,600 60% 88% WORKERS -COMP INSURANCE 2,120 2,316 2;136 1% 8% EMPLOYEE COSTS 586 612 612 4% 0% DUES & SUBSCRIPTIONS 55 110 55 0% 50% LICENSES, PERMITS & DUES 914 894 894 2% 0% MILEAGE REIMBURSEMENT 934 600 936 0% 56% POSTAGE/OVERNIGHT DELIVERY 93 132 161 73% 22% MANAGEMENT FEES 52,800 52,800 52,800 0% 0% PROFESSIONAL FEES 1,135 3,600 3,600 217% 0% TELEPHONE EXPENSE 5,424 5,436 5,640 4% 4% EQUIP REPAIRS/MAINT/LEASE 1,439 1,860 1,560 8% 16% OFFICE SUPPLIES & EXPENSES 856 1,140 1,020 19% 11% BANK CHARGES 12) 84 60 600% 29% PRINTING 16 144 120 650% 17% SEMINARSlTRA1NING 85 252 300 253% 19% MISCELLANEOUS PROP ADMIN 0 120 120 n/a 0% TOTAL PROPERTY ADMINISTRATION 154,879 154,665 166,388 7% 8% RESIDENT SERVICES EXPENSES 6,644 4,075 5,000 25% 23% MARKETING & LEASING: 0 180 180 n!a 0% HOUSEKEEPING: CONTRACT LABOR 16,763 17,040 17,866 7% 0% CLEANING SUPPLIES 1,646 2,400 2,400 46% 0% TOTAL HOUSEKEEPING EXPENSES: 18,409 19,440 20,266 10% 4% REPAIRS & MAINTENANCE: CABLE TV EXPENSE 679 732 720 6% 2% UTILITIES-ELECTRIC 24,006 24,900 24,966 4% 0% PLYMOUTH TOWNE SQUARE DRAFT 2013 BUDGET TRAILING Percentage Percentage 12 MONTHS BUDGET BUDGET Difference Difference 7111-6112 2012 2013 Budget 13 Budget 13 TOTALS TOTALS TOTALS Trail 12 mo to Budget 12 UTILITIES -WATER & SEWER 9,031 8,400 9,320 3% 11% UTILITIES -GAS 17,077 24,525 24,525 44% 0% WATER SOFTENING EXPENSE 4,014 3,564 4,140 3% 16% CONTRACT LABOR 0 0 0 n/a n/a DOORS, KEYS & WINDOWS 7,141 5,040 5,141 28% 2% FIRE SYSTEM SERVICE 3,352 5,160 4,800 43% 7% LAWN CAREISNOW REMOVAL 23,997 21,300 19,200 20% 10% PEST CONTROL 7,757 660 5,672 27% 759% TRASH REMOVAL 7,651 8,640 8,040 5% 7% UNIT TURNOVER 49,562 44,796 46,200 7% 3% RESERVE/REPLACE/CAP EXP 141,049 171,910 28,200 80% 84% ELEVATOR REPAIRS & MAI NT 5,673 7,800 7,475 32% 4% REPAIRS & MAINTENANCE 40,471 28,525 40,000 1% 40% BUILDING & GROUNDS SUPPLIES 25,208 10,980 19,200 24% 75% HVAC SUPPLIES & REPAIR 19,999 8,400 10,800 46% 29% MISCELLANEOUS B&G EXPENS 0 180 180 nla 0% TOTAL REPAIRS & MAINTENANCE 386,667 375,512 258,579 33% 31% OTHER OPERATING EXPENSES PROPERTY & LIABILITY INSURANCE 28,530 28,638 31,106 9% 9% PAYMENT IN LIEU OF PROPERTY TAX 31,825 30,000 31,994 1% 7% TOTAL OTHER OPERATING EXPENSES 60,355 58,638 63,100 5% 8% TOTAL OPERATING EXPENSES 626,954 612,510 513,513 18% 16% NET OPERATING INCOME / (LOSS) 314,492 263,972 398,523 27% 9% OTHER EXPENSES: DEPRECIATION EXPENSE 195,263 195,096 202,000 3% 4% AMORTIZATION EXPENSE 2,909 5,700 3,000 3% 47% INTEREST EXPENSE 193,631 136,400 95,788 51% 30% TOTAL OTHER EXPENSES: 391,803 337,196 300,788 23% 11% NET INCOME: 77,311) 73,224) 7,736 226% 233% CASHFLOW ADJUSTMENTS: REPLACE/RESERVE TRANS OUT 84,000) 84,000) 84,000) 0% 0% REPLACE/RESERVE/CAP EX 171,910 171,910 28,200 84% 84% DEPRECIATION 195,288 195,286 202,000 3% 3% AMORTIZATION 5,700 5,700 3,000 47% 47% PRINCIPAL ON DEBT 210,000) 210,000) 245,000) 17% 17% NET CASHFLOW: 1,587 5,674 1,936 22% 66% N Ac Aooa0000an U3 wm uL omrmomoomW m o oinmminmomo do H m V mO M [V o o m N n N o D N m E13 ~ U mo W m Am mo z m N Z rn A oUmm O m IL A o CD m C7 m m 2 m J [O o m Nm rn m m A oQmm a. a m o m Nm a cam, m g m ED A o W m m IL m ZQ rn 7 m Z O tiA o m o o m m 4] m m m m in Ce) A [O p r m r m m N m m 0 ui m r A N o m o o m c m A co mmm u)mPl. 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W. .N t r V N N W m) mmwtpWtmNWNWC4 ) mNm IDo co N N W) r- w cD m m V N T N N (D co N m m O N W A a' tam') Imu N N rl m N Wo P N N Ln r W h uil 0 W r r N v N W a0 Vn m o N W N m Wt U) W N Wm mCl mtomtD m N m 0 m0 N Nall m h m h to N m m r N r N (D m tp W m o N W m WmW WN co VW m m mmNm m0 00ttt N N tp m ED ID 1- to m m r N r N W W 1p D P') O N CO o tm!) mN u) mN rn0 V N N m N m W h m W 7 m r N W NW L) zZ Z ww w Wi DLLIZ) w wiz aaa w w to a W xa W z n- w SOW z 0 aww W DZaWDWW Z ZODX odZw r w I¢--ww lii 0 Dww0 O L a-F WwV---wD za- U W D J J w0'0cc y W Faa~ W z ir2I=w<Zh w D z D0¢_Dh z W a a` F- smmms m w O m O m m M cl O oN_000 M s cy M vNCYN m ~ Y Z C g M q q N O MW NC4 M o m r v r Y O M q NCA N R Q m M m m m O M vl Q/ o m N N rA 1 D cry F- DO N Z IL SFU Fww r U coW gOOz O O 0C)>gsOo>U sa EL U) YtLU)a0z U nwww:ii E r acwo¢, z W c E PLYMOUTH HOUSING REDEVELOPMENT AUTHORITY HRA RESOLUTION NO. 2012-08 AUTHORIZING THE 2013 OPERATING BUDGET FOR PLYMOUTH TOWNE SQUARE WHEREAS, pursuant to Minnesota Statutes, sections 469.001 to 469.047 (the "HRA Act"), the City Council of the City of Plymouth, Minnesota (the "City"), declared the need for a housing and redevelopment authority to function in the City and granted to the Housing and Redevelopment Authority in and for the City of Plymouth, Minnesota (the "Authority") all of the powers and duties of a housing and redevelopment authority under the provisions of the HRA Act; and WHEREAS, the Authority ovens and operates a senior independent apartment building named Plymouth Towne Square; and WHEREAS, the Authority is required to adopt an operating budget for Plymouth Towne Square; and WHEREAS, Grace Management, Inc., the HRA's contract property management company has provided a proposed 2013 budget for Plymouth Towne Square; and WHEREAS, staff from the Authority and the City have reviewed the proposed budget; and WHEREAS, the Authority has before it for its consideration a copy of the budget for the operations of Plymouth Towne Square for the fiscal year 2013. NOW, THEREFORE, be it resolved by the Board of Commissioners of the Housing and Redevelopment Authority in and for the City of Plymouth, Minnesota: The Plymouth Towne Square Operating Budget for the fiscal year of 2013 has a total operating expense amount of $513,513 and other expenses of $300,788 for a total budget of $814,301. Passed and duly adopted by the Board of Commissioners of the Housing and Redevelopment Authority in and for the City of Plymouth, Minnesota on this 25th day of October, 2012. Agenda Number F• • PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY STAFF REPORT TO: Plymouth Housing and Redevelopment Authority FROM: Jim Barnes, Housing Manager through Steve Juetten, Executive Director MEETING DATE: October 25, 2012 SUBJECT: Vicksburg Crossing — Approve 2013 Operating Budget BACKGROUND: Staff has reviewed the budget for Vicksburg Crossing submitted by Grace Management for the operation of the property for January 1, 2013 through December 31, 2013, including a current estimate of actual expenditures for 2012. After discussions with internal staff and Grace Management, the attached operating budget is ready for review and approval by the HRA board. As the building enters its seventh year of operation, staff has once again reviewed the previous year's performance and adjusted the 2013 budget accordingly to current market conditions. The building is anticipated to be at 96% occupancy. 2013 BUDGET: Revenue: Overall revenues for the 2013 budget are based on maintaining the percentage of rented units throughout the year and it is anticipated that the average occupancy will be 96%. Income will also be received from garage rentals, application fees, and investment income. Total revenues for 2013 are projected to be $1,176,490, which represents a one percent increase from the 2012 budget. Staff is recommending a small increase in rents for both the moderate income and low income units. Rent increases being recommended include a $10 per unit increase for the low income units, a $15 per unit increase for the moderate income units. In addition to the rental revenue, staff is anticipating the need for subsidy in the amount of $30,000 for this budget year. Expenditures: Expenditures are anticipated to increase by seven percent. Most notable are the increases in pest control, lawn care/snow removal and Marketing. Pest Control was increase due to an increase in bed bug control. For this year, Grace Management is proposing to redo the property's website to make it more user friendly and to keep pace with changes in technology. Additionally, staff is recommending some landscaping improvements around the front of the building to provide a more inviting atmosphere. Reserve/Replacement Account: The 2013 budget anticipates adding $60,000 to the replacement reserve account, which is the same as last year. In 2011, staff completed the review of the replacement reserve needs over the long term and this amount may be low. However, at this point staff is of the opinion this will be sufficient to cover any expenses in the near term. The reserve/replacement account will continue to be monitored and staff will keep the Board informed if there needs to be any adjustments. There are no capital replacements being proposed for 2013. RECOMMENDATION: I recommend that the Plymouth Housing and Redevelopment Authority Board of Commissioners adopt the attached resolution approving the 2013 Vicksburg Crossing Operating Budget ATTACHMENTS: 2013 Budget Assumptions 2013 Budget Resolution Approving 2013 Vicksburg Crossing Operating Budget VICKSBURG CROSSING 2013 Budget Assumptions Draft Resident Rent Revenue: Is based on the attached income schedule, We propose a rent increase of $10 for the affordable apartments bringing them to $755 a month. We are recommending a $15 increase for all of the market rate apartments. We remain sensitive to price increases in that we are near the top of the competitive market for age -restricted and multi -family housing communities in the area. The budget projects an average occupancy of 90 units or 96%. This remains aggressive, but should be achievable unless the economy takes another downturn. Resident Rent Revenue -Section 6: Is based on July 2012 resident roster who receive Section S subsidy. Rent Concession: We are not budgeting any for 2013. HRA — Subsidy (tax levy), The subsidy is budgeted this year at $30,000. It is more than last year to cover a couple of additional projects; adding landscaping to the front of the building ($4,000) and to create a new and improved website ($6,500). Garage Income: Is based on 65 spaces at a rental rate of $45 a month each. We do not recommend an increase to monthly garage rental based on comparables of other properties. Guest Suite Revenue: Is based 1.5 nights a month, which is historically achievable & average. The trailing 12 months shows considerably more, but there was a long term stay that we don't want to budget for as it is not likely to be repeated. Application Fee Revenue: We pass on the expense incurred for rental verification credit check & criminal background check). We are budgeting one and a half (we process a background check on each person occupying an apartment) a month. The corresponding expense is included in the Legal and Other Professional line item. Transfer Income: Is based on 2 transfer fees per year at $500 each, Investment Income: Is estimated based on last year's figures provided by City of Plymouth Finance Department. Miscellaneous Revenue: Includes storage space revenue based on $10/month/space, late fees and security deposit amounts withheld for damages incurred and is based on the trailing 12 months figure. Confidential Page 1 10/12/2012 OPERATING EXPENSES: Property Administration: Manager Salaa is based on a manager at $49,646. This figure is 3% higher than 2012 which did not include an increase for that year. Maintenance Salaries is based on a lead maintenance position at $16.10 (plus benefits and a two-bedroom apartment) which is a $.101hour increase, The full-time person is budgeted at 40 hours/week regular time and 3 hours per week over time to account for emergency calls. This position will continue to be split equally between Vicksburg Crossing and Plymouth Towne Square. Maintenance Asst. Salaries includes a part-time maintenance person at $15.20 an hour which is an increase of $.20. The part time person is budgeted at 30 hours a week to accommodate for vacation coverage and emergency calls (scheduled work week is 22 hours for this position). This is an increase in the number of hours budgeted over previous years as both buildings are aging & requiring more maintenance time. This position will continue to be split equally between Vicksburg Crossing and Plymouth Towne Square. Payroll. -Tax is budgeted at 11 % of the total of all salaries. It includes FICA, FUTA & SUTA. Health Insurance includes healthcare, dental, and life. Health, Mental and life insurance are provided to full-time employees if they wish to participate. The employee is responsible for paying 20% of the premium for health and is provided dental and life free of charge. Family coverage is available, but is 100% employee paid, Currently 2 of 3 eligible employees are taking coverage. The amount is based on current premiums as of ,July 2012 plus an estimated increase by the industry trend of 10%. The benefits cost is allocated to each property in the same manner as the salaries. Worker's Compensation Insurance premium is calculated with actual payroll over the trailing 6 months and estimated 1 % increase in premium rates for 2011 This expense is allocated to each property in the same manner as the salaries. Employee Costs include ADP fees, help wanted ads, background checks for new employees. We are budgeting based on the trailing 12 months plus 3% increase anticipated. Dues & Subscriptions are estimated based subscription rates. The subscriptions are for a creative ideas newsletter that is used to create the monthly newsletter for the residents and for two health newsletters for the residents. Confidential Page 2 10/12/2012 License, Permit & Dues are based on City of Plymouth assessed fees for the dwelling license at $100 for the building, plus $6 per dwelling unit ($676) and Elevator license fees ($200). Employee Mileage is based on the trailing 12 months with a slight increase. The mileage reimbursement for the maintenance staff is split 50150 with PTS as nearly all of the mileage for these individuals is traveling between the properties. Postage/Overnight Delivery is an estimate based on the trailing 12 months. This line item, found in both the Administration & Marketing Departments has been consolidated this year. We are eliminating the Postage line item in the Marketing Department. Management Fees is based on contract amount with no increase. Professional Fees is an estimate based on conducting background checks for new residents (1 per month at $35 each) and audit/tax fees as provided by City of Plymouth Finance Department (estimated to be $2000). Telephone includes the cellular phones for the caretakers (split with PTS) and the incoming lines for the property along with internet and long distance expenses. The budget is based on the trailing 12 months plus a 4% increase E ui ment Repairs/Maintenance/Lease is based on the annual cost of $840 for copier maintenance fees ($70 a month) and occasional maintenance on the resident and office computers (budgeting 7 hours annual at $100Ihr). Office Supplies .& Expenses include the office supplies for the office and printer cartridges and some paper for the resident computers. The budgeted amount is based on an average over the past several years. Bank Charges are estimated. We have included a small amount in the event we need to place a stop payment or other unusual service that may incur a fee. Printing is an estimate based on the trailing 12 months. This line item, found in both the Administration & Marketing Departments has been consolidated this year. We are eliminating the Printing line item in the Marketing Department. SeminarslTraininc# is based on attendance at one training session per year. Miscellaneous Pro e Admin Expense is estimated at zero. Resident Service Expense: Resident Service Expe__n_se is an estimate. Expenses include things like monthly musical entertainer, special holiday events, dinner served during National Night to Unite Confidential Page 3 10/12/2012 and July Fourth, May month is "celebrate seniors month" with extra events planned, and the holiday party is a big celebration. This also includes money for decorations and paper cups, coffee, etc. It is based on the trailing 12 months plus 6% increase. Marketing and Leming: Advertis n. is an estimate based on monthly ad placement for on-going marketing presence in local papers and the costs for monthly maintenance of a website for Vicksburg Crossing. We are also budgeting a large sum for a complete makeover of the website to achieve a more interactive experience to include online applications. Promotional Events includes events for prospects, speaker events, visits to seniors groups, etc. with treats. We are finding it is more beneficial to do smaller events like an Open House for promoting Vicksburg than it is to do the big expensive parties. In terms of numbers, the volume is about the same and the prospects we get are better qualified and more interested with the smaller events. Like advertising, we are reducing this expense due to higher occupancy. Housekeeping: Contract Labor is budgeted at the cleaning company contract rate for 2013 which represents a slight increase over the 2012 contract plus an average of 1.5 cleanings a month of the guest suite at $35 a time. This is slightly higher than the trailing 12 months. Supplies -- cleaning includes paper towels & toilet paper for common area restrooms, trash bags, air freshener, vacuum repair, disinfectant, and other supplies. It is based on a 5% increase to the trailing 12 month due to anticipated increase in costs and usage. Building and Grounds: Cable TV is for the exercise room, community room big screen and Guest suite. The budget is based on the July. 2012 rate plus $3 for anticipated annual increase. Electric is based on a 4% increase over trailing 12 months. Water and Sewer is based on 3% over the trailing 12 months. Gas is based on a 5% increase over the trailing 12 months. A larger increase is used due to the unusually warm winter of 201112012. Water Softener is based on the trailing 12 months with an increase of 4%. Contract Labor is not necessary with a part time maintenance employee who can pick up the time to cover for time off of other maintenance worker. Confidential Page 4 10/12/2012 Doors Keys and Windows is for window replacement/repairs, key blanks (costly based on Primus key system) & key cuts and any other lockidoor repairs. We are budgeting based on the trailing 12 month figures with a modest increase. Fire System Service includes costs to test, inspect, monitor and service the fire suppression system, fire extinguishers and front entry system. Lawn Care/Snow Removal is based on pricing received from contractor and estimated for snow removal based on history. Work includes spring clean up, weekly mowing, weed control, spring/fall shrub trimming, putting up snow fencing and spring parking lot sweeping, Adding mulch to the beds is done every other year; 2013 is the year so the annual budget is more than the trailing 12 months. We also budgeted $4,000 to add some additional landscape to the front areas. Pest Control includes quarterly treatments and is based on VC current rate plus 2% increase. Additional $5,000 is budgeted for contingency/emergency bug treatment purposes. Trash Removal is based on current monthly expense plus 4% which includes the extra fees amount for recycling light bulbs, appliance, etc. Unit Turnover includes carpet cleaning and stretching, paint, blinds and plumbing supplies, etc. for apartments that are being re-leased. We estimate 16 turnovers at 2,000 each. The trailing 12 months saw 17 move outs at an average of $1,808 each. 2012 figures are higher with an average turn cost of $2247 for the seven so far this year. We continue to replace some and stretch most turnovers as the carpet installation were not high quality. We have also had to replace several appliances. Reserve/Replacement./Capital. Expense includes no additional spending that qualifies as a R/R/CE line item. Elevator Repairs and Maintenance includes contract for maintenance, plus any service calls that may not be covered by the maintenance contract. The amount is based on the trailing 12 months plus 3% increase. Re airs & Maintenance includes window washing, garage sweeping and power washing, appliance repairs, plumbing repairs, service contract for generator, common area carpet cleaning of all common areas (full building anticipated each year), carpet cleaning for those living in their apartments longer than 3 years, repairs to the exterior and all other misc. repairs. We will have a major project repairing the siding which is peeling on most areas around the dyer vents and is the reason for the large increase over 2012 budget. Confidential Page 5 10/12/2012 Building & Grounds Supplies includes common area paint and repairs, all outdoor plantings and related supplies, outdoor holiday decorations and other misc. supplies i.e. furnace filters for all apartments quarterly). Estimate based on trailing 12 months. HVAC Supplies & Repair includes all HVAC supplies, repairs and maintenance contract with Owens. It is based on the trailing 12 months figure with a 5% increase based on Owens' historical contract price increase. Miscellaneous B&G Expense is a small estimate. Non -Departmental Expenses: Property. Taxes are based on 5% of the estimated annual 2012 income for dwelling units (approx. $1,077,000) which is payable in 2013. Property and Liability Insurance is based on current rates ($15,572 for liability and 14,936 for property) with a 5% increase which is consistent with the Increase seen in the 2012 premium over 2011. We will continue to set aside $60,000 annually for 2013. 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M W .d3 FA d3 69 di tl N N N U p t 0 U L- m N z t N S U J ua w S U J O W w Q U D 1h l L F z F F H H t z H F H H H z L 4 Z z w z g z z z w z Z z z z w z F a 0 a g 0 a 0 0 0 0 0 0 0 0 0 0 0 00 0 00 0 0 0 0 0 0 0 00 1 0000000000000000rc W, W W a K[L K w w fe w w[ 0 0 0 d p d d p d d p O p p p 0[ mw w w w w w w w w w w w w w w I m m m mmmmmm mmmmmm [ LL LL LL LL LL LL LL LL LL LL LL LL LL l z on z z z x w w w m F F N N N m VICKSBURG GROSSING 2013 BUDGET -DRAFT 94 INDEPENDENT UNITS - rentable, 96 constructed UNITS OCCUPIED PERCENTAGE OCCUPIED TRAILING Percerfa©e Percerfa©e 12 MONTHS 2012 2013 Differeme Difference 7111-6112 BUDGET BUDGET Budget 13 Budget13 TOTALS TOTALS TOTALS Trail 12 mo Budget 12 90 90 90 0% 0% 96% 96% 96% 0% 0% INCOME APARTMENT RENTAL REVENUE 1,041,962 1,048,115 1,060,248 2% 1% APARTMENT RENTAL REVENUE -COUNTY 33,411 32,148 31,752 5% 1% RENT CONCESSION n!a n/a HRA SUBSIDY -TAX LEVY 24,000 24,000 30,000 25% 25% GARAGE RENTAL 35,437 35,100 35,100 1% 0% GUEST SUITE REVENUE 4,405 1,176 1,200 73% 2% APPLICATION FEE REVENUE 700 420 630 10% 50% TRANSFER FEE REVENUE 1,200 500 1,000 17% 100% INVESTMENT INCOME 9,298 1,200 9,000 3% 650% LATE FEE 170 100% n/a MISCELLANEOUS REVENUE 7,512 7,200 7,560 1% 5% TOTAL INCOME 1,158,095 1,149,859 1,176,490 2% 2% OPERATING EXPENSES PROPERTY ADMINISTRATION: MANAGER SALARIES 47,920 48,204 49,646 4% 3% MAINTENANCE SALARIES 18,173 17,796 18,616 2% 5% MAINTFNANCFASST 10,032 9,360 11,856 18% 27% PAYROLL TAXES 7,233 8,290 8,813 22% 60/0 HEALTH INSURANCE 11,692 15,912 14,797 27% 7% WORK CO MP INSURANCE 1,851 2,460 1,916 4% 22% EMPLOYEE COSTS 586 612 612 4% 0% DUES & SUBSCRIPTIONS 120 120 n!a 0% LICENSES, PERMITS 876 876 876 0% MILEAGE REIMBURSEMENT 776 600 816 5% 36% POSTAGE10VERNIGHT DELIVERY 137 192 132 4% 31% MANAGEMENT FEES 48,000 48,000 48,000 0% 0% LEGAL & OTHER PROFESSIONAL FEES 1,285 3,600 2,700 110% 25% TELEPHONE EXPENSE 5,832 5,880 6,084 4% 3% EQUIP REPAIRS/MAINTILEASE 1,410 1,500 1,536 9% 2% OFFICE SUPPLIES & EXPENSES 874 1,152 1,020 17% 11% BANK CHARGES 28 60 60 114% 0% PRINTING 58 60 S 60 3% 0% SEMINARSITRAINING 40 252 300 650% 19% MISCELLANEOUS PROP ADMIN S - rya n/a TOTAL PROPERTY ADMINISTRATION 156,803 164,926 167,960 7% 2% RESIDENT SERVICE: RESIDENT SERVICE EXPENSES 4,560 $ 4,515 S 4,829 6% 7% MARKETING & LEASING: ADVERTISING $ 3,199 $ 4,800 $ 11,808 269% 146% PROMOTIONAL EVENTS $ 309 $ 1,100 $ 900 1910/0 -18% TOTAL MARKETING & LEASING $ 3,508 $ 5,900 $ 12,708 262% 1150/. HOUSEKEEPING; CONTRACT LABOR $ 12,366 $ 11,580 $ 12,480 1% 8% CLEANING SUPPLIES $ 1,376 $ 1,200 $ 1,440 5% 20% TOTAL HOUSEKEEPING $ 13,742 $ 12,780 $ 13,920 1% 9% VICKSBURG CROSSING 2013 BUDGET -DRAFT TRAILING Percertage Percentage 94 INDEPENDENT UNITS - rentable, 96 constructed 12 MONTHS 2012 2013 Difference Differeree 7/11-8&12 BUDGET BUDGET Budget 13 Budget 13 TOTALS TOTALS TOTALS Trail 12 mo Budget 12 REPAIRS & MAINTENANCE: CABLE TV EXPENSE 1,405 1,380 1,476 5% 7% UTILITIES -ELECTRIC 26,381 27,025 27,436 4% 2% UTILITIES -WATER & SEWER 11,701 11,900 12,040 3% 1% UTILITIES -GAS 17,898 23,350 18,793 5% 20% WATER SOFTENING EXPENSE 1,630 1,536 1,692 4% 10% CONTRACT LABOR n/a n1a DOORS, KEYS & WINDOWS 1,075 864 1,116 4% 29% FIRE SYSTEM SERVICE 3,659 3,660 3,852 5% 5% LAWN CAR EISNOW REMOVAL 11,591 16,800 18,000 55% 7% PEST CONTROL 4,853 660 5,672 17% 759% TRASH REMOVAL 9,196 8,820 9,600 4% 9% UNITTURNOVER 31,751 27,996 32,000 1% 14% RESERVE/REPLACE/CAP EXP 2,500 n/a 100% ELEVATOR RLPAIRS & MAINT 5,347 4,980 5,520 3% 11% REPAIRS & MAINTENANCE 27,797 15,800 27,400 1% 73% BUILDING & GROUNDS SUPPLIES 8,886 12,000 9,600 8% 20% HVAC SUPPLIES & REPAIR 8,101 6,600 8,520 5% 29% MISCELLANEOUS B&G EXPENS 180 180 n1a 0% TOTAL REPAIRS & MAINTENANCE 171,271 166,051 182,897 7% 10% OTHER OPERATING EXPENSES PROPERTY & LIABILITY INSURANCE 30,093 29,907 32,033 6% 7% PILOT (paymeni in lieu of Taxes) 53,923 51,968 53,880 0% _ 4% TOTAL OTHER OPERATING EXPENSES 84,016 81,875 B5,914 2% 5% TOTAL OPERATING EXPENSES 433;900 436,047 468,228 8% 7% NET OPERATING INCOME I (LOSS) 724,195 713,812 708,262 2% 1% OTHER EXPENSES: DEPRECIATION EXPENSE 367,754 367,749 367,749 0% 0% AMORTIZATION 3,631 3,635 3,635 0% 0% INTEREST EXPENSE 458,947 467,563 460,975 0% 1% CONTRIBUTIONS FROM PLYMOUTH TOWNE SQUARE n/a n1a TOTAL OTHER EXPENSES: 830,332 838,947 832,359 0% 1% NET INCOME: 106,137) 125,135) 124,097) 17% 1% PERCENT OF INCOME 90/0 11% 11% 15% 3% CASHFLOW ADJUSTMENTS: REPLACEIRESERVE TRANS OUT 60,000) 60,000) 60,000) 0% 0% CAPITAL IMPROVE FUNDED BY REPLACL RES 2,500 2,500 100%- 100% REPIRLS EXP REIMB n/a n/a DEPRECIATION 367,749 367,749 367,749 0% 0% AMORTIZATION 3,636 3,636 3,635 00/0 0% PRINCIPAL ON DEBT 170,000) 170,000) 185,000) 9% 9% BOND SALL CAPITALIZED INTEREST n1a n1a n1a n/a NET CASHFLOW: 37,748 18,750 2,287 94% 880/9 W ED 7 N O m r w oWmm A rn z zz O V a V 13 V) GO cn m O si U WZ a LLJ z m n 0,-, V)z YTWCkUMz T" a N rn o0mmrn 0 0 m mm aoQ DDl N O O O O O Ntic O Oi O- DOomNm00rooLDam EDom m M to o o- O m 0 0 L2 o m tito v mI-- 06m N N N m m m mr OaoinN oO mmoO on in Mo I,-, IO VT OI In h 10 N m N N N m m m Q O ry 0 47 47 m tL m mm h yah m N N N N m m n v o Noumi ui w m n w In rn r w q m N N N m w 7 7 0 0" 0 w O W N M m o Vn G .- n m r m N N N mmU V V O PN0umi0 VMW M M ID Ll T LO h -D N m N N N o 0 V OOa N o mOO m nm W! 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N W¢ W W 20. afUW0 ¢a caW. p z Da¢?(]O z a U A N PLYMOUTH HOUSING REDEVELOPMENT AUTHORITY HRA RESOLUTION NO. 2012-09 AUTHORIZING THE 2013 OPERATING BUDGET FOR VICKSBURG CROSSING WHEREAS, pursuant to Minnesota Statutes, sections 469.001 to 469.047 (the "HRA Act"), the City Council of the City of Plymouth, Minnesota (the "City"), declared the need for a housing and redevelopment authority to function in the City and granted to the Housing and Redevelopment Authority in and for the City of Plymouth, Minnesota (the "Authority") all of the powers and duties of a housing and redevelopment authority under the provisions of the HRA Act; and WHEREAS, the Authority owns and operates a senior independent apartment building named Vicksburg Crossing; and WHEREAS, the Authority is required to adopt an operating budget for Vicksburg Crossing; and WHEREAS, Grace Management, Inc., the HRH's contract property management company has provided a proposed 2013 budget for Vicksburg Crossing; and WHEREAS, staff from the Authority and the City have reviewed the proposed budget; and WHEREAS, the Authority has before it for its consideration a copy of the budget for the operations of Vicksburg Crossing for the fiscal year 2013. NOW, THEREFORE, be it resolved by the Board of Commissioners of the Housing and Redevelopment Authority in and for the City of Plymouth, Minnesota: The Vicksburg Crossing Operating Budget for the fiscal year of 2013 has a total operating expense amount of $468,228 and other expenses of $832,359 for a total budget of $1,300,587. Passed and duly adopted by the Board of Commissioners of the Housing and Redevelopment Authority in and for the City of Plymouth, Minnesota on this 25th day of October, 2012.