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Housing & Redevelopment Authority Packet 10-23-2014
MEETING AGENDA PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY THURSDAY, OCTOBER 23, 2014 - 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 wit[ 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 September 25, 2014. B. Plymouth Towne Square. Accept Monthly Housing Reports. C. Vicksburg Crossing. Accept Monthly Housing/Marketing Reports. 3. NEW BUSINESS A. Senior Buildings - 2014 Resident Satisfaction Survey Results. B. Plymouth Towne Square. Review and approve 2015 Budget. C. Vicksburg Crossing. Review and approve 2015 Budget. 4. ADJOURNMENT DRAFT MINUTES PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY SEPTEMBER 25, 2014 PRESENT: Chairman Jeff Kulaszewicz, Commissioners Katie Black, Jim Willis, and Toni Jelinek (arrived at 7:12 p.m.) ABSENT: None STAFF PRESENT: Housing Program Manager Jinn Barnes, HRA Executive Director Steve Juetten, Support Services Manager Denise Whalen, Housing Specialist Spencer Agnew, and Office Support Representative Tina Beckfeld 1. CALL TO ORDER Chairman Kulaszewicz called the Plymouth Housing and Redevelopment Authority meeting to order at 7:00 p.m. 2. CONSENT AGENDA A. Approve HRA Meeting Minutes for August 29, 2014. B. Plymouth Towne Square. Accept Monthly Housing Reports C. Vicksburg Crossing. Accept Monthly Housing/Marketing Reports MOTION by Coirunissioner Willis, seconded by Commissioner Black to approve the consent agenda. Vote. 3 Ayes. MOTION passed Lmanimously. 3. PUBLIC HEARING A. Section. 8 Housing Choice Voucher Program. PHA 5 -Year Plan; proposed changes to the Housing Choice Voucher Administrative Ptan; and, submission of HUD - 50077 -CR. Support Services Manager Whalen gave an overview of the staff report. Commissioner Willis asked what the nature of the proposed increase and decrease in income is. Support Services Manager Whalen answered currently a client can request an interim adjustment if their income decreases $40 or more per month. Making changes for small amounts has increased the burden on staff time, as staff is processing many interim adjustments per month along with anrival recertifications. Research done on other housing authorities revealed some MRA's only make changes at recertification time, Other housing authorities allow interim adjustments when income changes by $200-$300 per mouth. Staff felt increasing the amount from $40 to $100 is fair. Draft Plymouth Housing and Redevelopment Authority September 25, 2014 Page 2 Katie Black complimented staff for keeping the increase low because any increase in tenant portion is a burden for clients. She also had a question about 8-11.C. "The HRA reserves the right to inspect more frequently for marginal or high risk units." Support Services Manager Whalen stated most of the apartment complexes have a good handle on managing Section 8 housing properties. However, many voucher holders now live in single family dwellings, townhomes or condos where landlords may be more lax on maintenance of those properties. This change assures inspections can be made more fiequently so housing is maintained. The housing inspector has good knowledge of problem units or problem tenants that do not maintain the properties. These are the units that would benefit from more frequent inspections. Commissioner Willis asked what the change in definition of "family" was. Support Services Manager Whalen answered now the definition of "family" does not discriminate regardless of actual or perceived sexual orientation, gender identity, or marital status. This direction came from HUD. Chairman Kulaszewicz asked who is considered near -elderly. Support Services Manager Whalen answered near -elderly is classified as a person who is at least 50 years of age but below 62. Chairman Kulaszewicz opened the public hearing. No guests were in attendance to speak. Chairman KuIaszewicz closed the public hearing. MOTION by Conin-iissioner Willis, seconded by Chairman Kulaszewicz to approve the PHA 5 -Year Plan; proposed changes to the Administrative Plan to be effective inunediately; and, submission of the 50077 CR to Housing and Urban development for the fiscal year beginning January 1, 2015. Vote. 3 Ayes. MOTION passed unanimously. 4. NEW BUSINESS A. HRA Budgets. Review and approve 2015 HRA Budgets. Housing Manager Barnes gave an overview of the CDBG and HRA General Fund staff reports and stated currently we are in the second year of the 2014-2015 biennial budget process. Support Services Manager Whalen gave an overview of the Section 8 staff report. HRA Executive Director Juetten gave a status update on the Section 8 reserves. He stated we continue to draw down the UNA balance and at some point the HRA may need to discuss Draft Plymouth Housing and Redevelopment Authority September 25, 2014 Page 3 whether or not the Section 8 program is economical to administer or if we look at alternatives. He recommends not reevaluating at this point. Chairman Kulaszewicz noted three years ago the administrative fee paid by HUD was at 100%. HRA Executive Director Juetten stated at 100%, extra money was put into the reserve fund. At 80%, money is taken from the reserve fund to make up the shortage. If HUD would pay 85% of our administrative fee we could probably break even. HRA Executive Director Juetten stated that a couple of years ago during sequestration our administrative fee paid by HUD dropped to 69%. Fluctuation is something that must always be considered. Commissioner Jelinek asked at what point the HRA Board would be notified of such a drastic change. HRA Executive Director Juetten replied that staff will keep the Board updated on any changes that impact the program. Chairman Kulaszewicz asked when TIF districts budgets would be discussed. Housing Manager Barnes stated staff monitors the TIF districts and redistribution occurs when necessary. There is not a lot of activity in our districts after the original obligation is approved that would warrant budget discussions. Chairman Kulaszewicz asked about TIF district I-3 at State Highway 55 and County Road 73. Housing Manager Barnes stated it is not proceeding as fast as the developer would like. The HRA's obligation to the developer is a not -to -exceed dollar amount which was calculated over 25 years. They need to have the development fully completed in order to receive hill payments. Commissioner Willis stated the council has confidence in the HRA budget and he believes that the council will not decrease the tax levy in December when they vote on the actual budget. MOTION by Chairman Kulaszewicz, seconded by Katie Black to recommend the City Council adopt the 2015 HRA preliminary budgets. Vote. 4 Ayes. MOTION passed uuianirnously. 5. ADJOURNMENT MOTION by Chairman Kulaszewicz, seconded by Commissioner Jelinek, to adjourn the meeting at 7:30 p.m. P PLYMOUTH TOWNE SQUARE MEMORANDUM To: Jim Barnes From: Jeff Lelivelt, Managing Director, Plymouth Towne Square Date: October 16, 2014 Re: PTS Monthly Report for September 2014 October Newsletter and Calendar attached Occupancy/Marketing Current Occupancy — 99 units (100%) Current Wait List Status One Bedroom — 59 applicants; closed Two Bedroom — 33 applicants Administrative/Building Operations a.8. On 918 First Impressions took a look at the old 2"d floor salon in preparation for installing new counters and cupboards. Throughout the month there were some problems with bees and wasps on the exterior of the building. All nests were destroyed. Resident Services On 9111 a going away party was held for Ben Kelly (20 years) and Bill Leach (15years) who were moving at the end of the month. Flu shots were given to residents on 9116 with 25 receiving the vaccinations. The Resident Meeting with Birthday Bash was held on 9118 with 38 people in attendance. . 15500 37th Avenue North • Plymouth, MN 55446-3250 Phone: (763) 550-9525 • Fax: (763) 551-0144 Owned by Plymouth Housing and Redevelopment Authoiky Balance Sheet As Of September 30, 2014 ASSETS CURRENTASSETS M I PETTY CASH M I OPERATING ACCOUNT M I SEC DEPOSIT CASH ACCOUNT INVESTMENTS - WORKING CAPITAL FUND INVESTMENTS - NEW DEBT SERVICE ACCOUNTS REC-TENANTS INTEREST RECEIVABLE ACCOUNTS RLC -OTHER PREPAID PROPERTY INSURANCE PREPAID WORKERS COMP INSUR PREPAID OTHER TOTAL CURRENT ASSETS FIXED ASSETS LAND SITE IMPROVEMENTS BUILDING BUILDING IMPROVEMENTS FURN, FIXT & EQUIP -GENERAL FURNITURE & FIXTURES - HOUSEKEEPING COMPUTERSIOFFICF EQUIPMENT ACCUMULATED DEPRECIATION TOTAL FIXED ASSETS NON-CURRENT ASSETS TOTAL ASSETS 1/-1-1.111111L", CURRENT LIABILITIES ACCOUNTS PAYABLE -TRADE ACCRUED PAYROLL ACCRUED COMPENSATED BALANCES ACCRUED INTEREST ACCRUED REAL ESTATE TAXES ACCRUED OTHER TOTAL CURRENT LIABILITIES LONG-TERM LIABILITIES SECURITY DEPOSITS BONDS PAYABLE- SERIES 2011A BOND PREMIUM TOTAL LIABILITIES EQUITY RETAINED EARNINGS RSRVD FOR DS RETAINED EARNINGS TOTAL EQUITY CURRENT YEAR INCOMEI(LOSS) TOTAL LIABILITIES & EQUITY Ending Balance Total 500 207,499 55,613 877,197 228,907 2,200) 3,750 115 21,271 194 4.181 459,247 111,390 5,767,619 301,779 379,211 8,696 13,060 3,522,879) 9,778 2,494 1,454 44,219 23,539 9,525 55,400 2,920,000 66,345 108,648 1,560, 342 1,397,027 3,518,122 4,915,149 91,009 3,041,746 3,132,754 1,668,994 113,404 4,915,149 Profit and Loss Variance PLYMOUTH T©WNE SQUARE Through September 30, 2014 MTD Actual Budget Var. YTD Actual Budget Var. Year Budget INCOME APARTMENT RENTAL REVENUE 52,777 52,562 215 481,441 473,058 8,383 630,744 HRA INDIVIDUAL 17,917 17,917 0 161,253 161,253 0 215,004 GARAGE RENT 2,642 2,880 239) 25,969 25,929 49 34,560 GUEST ROOM REVENUE 165 193 28) 2,750 1,737 1,013 2,316 LAUNDRY REVENUE 806 855 49) 7,658 7,695 37) 10,260 APPLICATION FEE REVENUE 70 53 17 275 477 202) 638 TRANSFER FEE REVENUE 0 0 0 0 500 500) 500 INVESTMENT INCOME 1,256 1,25D 5 25,663 11,260 14,413 15,000 MISCELLANEOUS REVENUE 588 185 403 773 1.665 892) 2.220 TOTAL INCOME 76,226 75,895 325 705,782 683,555 22,227 911,240 EXPENSES ADMINISTRATION MANAGER SALARIE&WAGES 3,834 3,877 43 24,889 24,893 4 46,524 PAYROLLTAXES 516 1,089 553 6,946 9,621 2,675 12,628 HEALTH INSURANCE 1,137 446 691) 11,107 4,014 7,093) 5,352 WORKERS COMP INSURANCE 65 178 113 652 1,602 950 2,136 MAINTENANCE SALARIESIWAGES 3,655 3,761 106 32,154 23,849 1,695 45,132 EMPLOYEE COSTS 80 6D 0 6DO 800 0 1,040 SFMINARITRAINING 370 25 345) 370 225 145) 200 BANK FEES 1 5 4 60 45 35) 69 DUES, SUBS & MEMBERSHIPS D 0 0 100 0 100) 0 LICENSE & PFRMITS 0 0 0 223 894 672 894 MILEAGE REIMBURSEMENT 63 89 26 715 801 86 1,068 POSTAGEIOVERNIGHT EXPRESS 0 8 8 49 72 23 96 PRINTING 0 10 10 0 90 90 120 MANAGEMENT FEES 4,400 4,400 D 3e,600 39,600 0 52,800 PROFESSIONAL FEES 53 350 297 1,159 3,150 1,991 4,200 TELEPHONE EXPENSE 496 500 4 4,486 4,500 12 6,000 EQUIPMENT LEASEIREPAIR 0 130 130 3,140 1,170 1,970) 1,560 OFFICE SUPPLIES 5 95 90 935 855 80) 1.140 TOTAL ADMIN EXPENSES 14,676 15,623 47 137,406 136,181 1,225) 181,250 RESIDENT SERVICES RESIDENT PROGRAWACTIVITIFS 52 200 148 1,897 2,500 603 5,200 TOTAL RES SERV EXPENSES 52 200 148 1,897 2,500 603 5,200 MARKLTING PROMOTIONAUPARTIES 0 15 15 0 135 135 160 TOTAL MARKETING EXPENSES 0 15 15 0 135 135 180 HOUSLKEEPWG CONTRACTLABOR 1,529 1,521 8) 13,362 13,689 328 16,252 CLEANING SUPPLIES 132 115 17) 787 1,035 248 1,380 TOTAL HOUSEKEEPING EXPENSES 1,660 1,636 24) 14,149 14,724 575 19,632 Profit and Loss Variance PLYMOUTH TOWNE SQUARE Through September 30, 2014 MTD Actual Budget Var. YTD Actual Budget Var. Year Budget BUILDING & GROUNDS CABLE TV EXPENSE 55 60 5 499 540 41 720 UTILITIES - ELECTRICITY 2,591 2,200 391) 21,109 21,100 9) 27,300 UTILITIES - GAS 719 1,500 781 20,588 14,400 6,188) 22,000 UTILITIES - WATERISEWER 914 890 224) 8,576 7,470 894 9,540 WATER SOFTENING SERVICE 3B5 345 40) 2,895 3,105 210 4,140 DOORS, KEYS & WINDOWS 0 350 350 4,762 3,150 1,612) 4,200 FIRE SYSTEM SERVICE 90 415 325 3,777 3,735 42) 4,980 LAWN SERVICEILANDSCAPISNOW RMVL 939 1,600 881 21,390 14,400 8,990) 19,200 PEST CONTROL 145 465 320 509 4,185 3,676 5,560 TRASH REMOVAL 323 300 23) 3,065 2,700 365) 3,600 UNIT TURNOVER REPAIRS 5,241 2,887 2,574) 15,611 24,003 6,392 32,004 ELEVATOR -REPAIRS & MAINTENANCE 521 600 79 4,686 5,400 714 7,200 REPAIRS & MAINTENANCE 9,316 1,500 7,616) 30,208 31,000 792 35,500 BUILDING & GROUNDS SUPPLIES 869 1,600 711 8,392 14,400 B,C08 19,200 HVAC - REPAIRS & MAINTENANCE 598 935 337 3,159 8,415 5,257 11,220 MISCELLANEOUS B & G EXPENSES 0 633 B33 0 7,497 7,497 9,996 TOTAL BUILDING & GROUNDS 22,724 16,060 16,664} 147,224 165,500 18,276 216,380 OTHER OPERATING EXPENSES PROPERTY & LIABILITY INSURANCE 2,621 2,638 17 23,061 23,742 661 31,658 PAYMENT IN LIEU OF PROPERTY TAX 2,615 2,587 2B) 23,539 23,263 258) 31,044 TOTAL OTHER OPERATING EXPENSES 5,236 5,225 11) 46,600 47,025 425 62,700 TOTAL OPERATING EXPENSES 44,349 38,159 6,190) 347,275 366,065 18,790 485,342 NET OPERATING INCOME I ( LOSS) 31,871 37,736 5,865) 358,506 317,490 41,016 425,898 DEPREC, INTEREST & OTHER EXPENSE DEPRECIATION EXPENSE 16,450 16,833 363 148,048 151,497 3,449 201,996 AMORTIZATION EXPENSE 527 527 C 4,739 4,743 4 3,324 RESERVEIREPLACE CAPITAL EXPENSE 1,847 0 1,847) 25,609 32000 6,391 32,000 INTEREST EXPENSE 7,496 7,370 126) 66,707 66,330 377) 88,440 TOTAL DEPREC, INTEREST & OTHER 26,319 24,730 1,589) 245,102 254,570 9,468 328,760 NET INCOME I (LOSS) 5,552 13,006 7,454) 113,404 62,920 50,484 97,138 NWN W W w N W W K J W W Q J W N F Z W z i _ z z F a z W w ¢ w N° a wwul1>1( w w a yy W w `t y w Z m N [!J x N W Z N 7 N W Z W Z w U VJ 0. 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Random Thou h is Why do we ignore those who adore us, adore those who ignore us, hurt those who love us and love those who hurt us.... And what about that idiot in the car in front of us?.... Sometimes my greatest accomplishment is just keeping my mouth shut. The 3 most difficult things to do in life: 1. You can't count your hair 2. You can't wash your eyes with soap 3. You can't breathe with your tongue sticking out Please put your tongue back in your mouth. I m not arguing with you..... I'm simply explaining why I n righ t. At the bank, I told the teller 7 want to open a joint account, please. "OK, with who?" she asked. "With whoever has lots of money" You never truly know what you have in life until you clean your room. The difference between "school" car 'life In school you're taught a lesson and the given a test. In life you are given a test and then you learn a lesson. Plymouth Town Square October, 2014 New Key System to be Completed by October 8 On Wednesday, October 8th the new key system will be completed. This means that on this date you will no longer be able to use the metal keys on the entrance doors. Also, if you have been to your locker you will notice that the you no longer need a key to get into your area. They are permanently open. That means that you will only need the electronic fob and your apartment key which also opens your mailbox. So far everyone seems to like the new system. Saturday Breakfast with Chef Ray, Saturday, October 18 Chef Ray will cook us up another delicious breakfast on Saturday, October 18. Tickets are $3.50 on sale in advance Monday and Tuesday of that week. Volun- teers are always appreciated. A sign-up sheet will be on the bulletin board that week also. Cost at the door is $1.00. PTS Anniversary Celebration Wednesday, October 22 October 22 marks the twentieth anniversary of the opening of Plymouth Town Square. We will have a luncheon and social to mark that date. Look for more in- formation in the coming weeks. Soup and Salad, October 27 Be thinking ahead to what soup you want to contribute to our soup and salad Monday, held on October 27. Jeff supplies the salad fixins' and we bring the soup. Sign up sheets will be in the dining room in time for you to add your soup. Chili counts! Halloween Party, October 29 Halloween is a great opportunity to have some good fun here at PTS on Wednes- day, October 29. At this date there is no news as to how the party will take shape but it's bound to be fun . Come in costume. There will be a prize for the best disguise! More info closer to the event. 0 yeas"s f13re7y 4 Leona Peterson 77 20 yearsn3 , Dl Y Y u R ' L E f i L[ Y 3 a 4 1_ it a:. -rem We've oot eour bade! I've, 00f DO(Ar 64C V! 1 p A A new flag flies over Plymouth Town Square. This flag was given to honor Bill Leach and Ben Kelly, both veterans, and any other veteran that resides here at PTS. It was furled in all it's glory for this photo. It is an anonymous gift. Thank You! 71 What?! I m cold!" schRY HhLLOWSEN oosruMEs WITCH FRAN Ko I 44-,qm0!j . Botox." T iljlwny - You think I want to be un happy? I I'm carved Ws tray?' Off--E- Still nothing. Try the spellcheck!' 71 NmI"- J— I IL Off--E- Still nothing. Try the spellcheck!' groaners, part 9.73 What do you get when you toss a hand grenade into a kitchen in France.... Linoleum Blownapart... A city in Alaska passed a law outlawing all dogs.. it became known as Dogless Fairbanks Cjr?) A man goes to a dermatologist with a skin rash. The doctor says "Try a milk bath". So the guy goes to the grocery store and tells the dairy manager that he needs enough milk to take a bath. "You want that pasteurized?" he asked. Wah" the man replied. "Up to my chin should do it' Arbitrator: A cook that leaves Arby's to work at McDonalds. A voidable : What a toreador tries to do. Burglarize: What a crook sees with. Heroes: What a guy in a canoe does. Relief: What trees do each spring. Rubberneck: What you can do to relax your wife. Counterfeiters: Workers who put together kitchen cabinets. NBA vs. NFL 36 HAVE BEEN ACCUSED OF SPOUSAL ABUSE 7 HAVE BEEN ARRESTED FOR FRAUD 19 HAVE BEEN ACCUSED OF WRITING BAD CHECKS 117 HAVE DIRECTLY (OR INDIRECTLY) BANKRUPTED AT LEAST 2 BUSINESSES 3 HAVE DONE JAIL TIME FOR ASSAULT 71 CANNOT GET A CREDIT CARD DUE TO BAD CREDIT 14 HAVE BEEN ARRESTED ON DRUG-RELATED CHARGES 8 HAVE BEEN ARRESTED FOR SHOPLIFTING 21 ARE CURRENTLY DEFENDANTS IN LAWSUITS AND 84 HAVE BEEN ARRESTED FOR DRUNK DRIVING IN THE LAST YEAR Can you guess which organization it is? Is it the NBA or the NFL? next page for the answer) NEITHER. IT IS THE 535 MEMBERS OF THE UNITE® STATES CONGRESS! 1 1) s f-4V Nt551NS• By TACM wHY, HAS NY awy SEM4 sc0Tr A.TFLV: PF1 C O CD CL Ch 2) r -l -L 4 vi w 14D o 0o o N v o o 00 o N v I'D o 00 o W o 00 0 t pr, rn gCfray tz 17' tdroy d O d O cN d D d o W XD U, rlCD- CD I CD L C U CD a n Ul 14D W o O 00 W N 00 N d N D W o d 00 W to H N d I'D W 0 O 00 W d N iW lD O 00 W O d 3 O C) O OCD O O O d OQ O d 7 Cj C Y CD F'^• W Y N F-' W W Y-' CD WW IG-iWGOW4, my r\ F/^^ r I I--.• CD rCD CD 1- 6 CD VJ CD CIO CD E L L o o W C o o O 7 rIJ 7dCD aha coCD aha o Lnado m CD m cA CDca 0 oCl.P, CD CD a 0 C 0 0 C tao eo 0 0 CD0 oc civ rn mm 0o W 00 N oo oo 00 W O d O O d H y y H y N tli td rn oo 00o CD rb C C O CD CL Ch 2) r -l -L 4 a.c. Vclesb.g Crossing MEMORANDUM To: Jim Barnes From: Sara Paquette Date: October 10, 2014 RE: Vicksburg Crossing Monthly Report for September 2014 October Newsletter and October Calendar attached Rentals: As of September 30th we have 91 occupied apartments with 3 vacant units, and we have 3 deposits at this time, giving us a total of 0 apartments available to rent. The resident living in apartment 417 will be transferring at the end of September so we currently have a deposit on that apartment. The affordable apartment waiting list now has 50 names and we have been adding interested people to the list. On our moderately priced waiting list we have 14 people waiting for a one bedroom and 9 people waiting for either a 1+ den or a 2 bedroom. Listed below is a breakdown of units that are occupied and vacant. Style (Total 4) Square Feet Bedrooms Occupied Vacant Deposits Est'd Move in Style A (23) 850 Sq Ft 1 Bedroom 21 2 1 October 1st 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 S 0 0 Style D2 (4) 1281 Sq Ft 2 Bedroom 3 1 0 October 1st Style E (7) 1055 Sq Ft 2 Bedroom 7 0 1 November 1st Style E2 (3) 1055 Sq Ft 2 Bedroom 3 0 0 Affordable 33) 725 Sq Ft 1 Bedroom 33 0 0 TOTALS i 1 91 13 1 1 3155 Vic zsliucg Lane • Plymoul} , t 4 55447 • Phone (763)559-1.877 • Fax (763)559-0144 • nrn'.ci.plyinoutl).mn.us 0—d by Plym )-th r{ousuig and RedevelopmenL Autlio)'ity 121 EQUAL HOUSING OPPORTUNITY Move-Ins/Move-Outs: We had 2 move outs this month from 110 and 124 both of them moderately priced 1 bedroom apartments. We currently have a deposit on 110 and the resident in apartment 417, a 2 bedroom (style E), will be transferring to 124 a moderately priced 1 bedroom. We currently also have a deposit on 417. Marketing We continue to be very busy giving tours to prospective residents who either contact us by phone, email or drop in. We are adding people to the waiting list for the various moderately priced apartments and for the affordable apartments. Resident Services We kicked off the new season with a September fall pie party. We served pumpkin and apple pie with a choice of either whipped cream or ice cream and of course coffee was served with the pie. We had 45 people attend so turnout was very good. We had our monthly birthday party on Thursday, September 18th. 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 No building issues this month. Balance Sheet VICKSBURG CROSSING As Of September 30, 2014 ASSETS CURRENT ASSETS M I PETTY CASH M i OPERATING ACCOUNT M I SECURITY CASH ACCOUNT INVESTMENTS - WORKING CAPITAL FUND INVESTMENTS - DEBT SERVICE ACCOUNTS REG TENANTS INTEREST RECEIVABLE ACCOUNTS REC-OTHER PREPAID PROPERTY INSURANCE PREPAID WORKERS COMP INSUR PREPAID OTHER TOTAL CURRENT ASSETS FIXED ASSETS LAN D SITE IMPROVEMENTS BUILDING FURNITURE, FIXTURES & EOUIP-GENERAL COMPUTERSIOFFICE EQUIPMENT ACCUMULATED DEPRECIATION TOTAL FIXED ASSETS NON-CURRENT ASSETS TOTAL. ASSETS LIABILITIES CURRENT LIABILITIES ACCOUNTS PAYABLE -TRADE ACCRUED PAYROLL ACCRUED COMPENSATED BALANCES ACCRUED INTEREST ACCRUED REAL ESTATE TAXES ACCRUED OTHER TOTAL CURRENT LIABILITIES LONG-TERM LIABILITIES SECURITY DEPOSITS BONDS PAYABLE BOND PAYABLE -2012A BOND DISCOUNT BOND DISCOUNT -2012A TOTAL LIABILITIES EQUITY NET INVESTMENTS IN CAPITAL ASSETS RETAINED EARNINGS-RSRVD FOR DS RETAINED EARNINGS TOTAL EQUITY CURRENT YEAR INCOME/(LOSS) TOTAL LIABILITIES & EQUITY Ending Balance Total 500 966,506 63,055 361,981 9,051,110 790 3,250 30 22,037 196 3,689 874,593 238,793 9,025,428 341,736 8,680 2,881,364) 8,371 2,392 1,454 116,946 41,238 115 61,360 9,675,000 9,890,000 25,505) 25,210) 11,833,046 9,883,177 23,138,941) 10,473,144 7,607,865 18,081,009 170,515 19,575,645 19,746,160 1,420,718) 244,433) 18,081,009 Profit and Loss Variance VICKSBURG GROSSING through September 30, 2014 MTD Actual Budget Var. YTD Actual Budget Var, Year Budget INCOME APARTMENT RENTAL REVENUE 91,317 90,415 902 634,766 809,955 24,810 1,079,946 APARTMENT RENTAL REVENUE - COUNTY 2,168 2,135 33 19,512 19,215 297 25,620 HRA SUBSIDY - TAX LEVY 4,187 4,167 0 37,503 37,503 0 50,004 GARAGE RENT 2,925 2,925 0 26,883 26,325 558 35,106 GUESTROOM REVENUE 240 130 110 2,470 1,170 1,300 7,560 LATE FEE REVENUE 90 15 75 456 135 316 180 APPLICATION FEE REVENUE 35 53 18) 455 477 22) 636 TRANSFER FEE REVENUE 0 0 0 500 1,()00 500) 1,000 INVESTMENT INCOME 20,807 417 20,390 21,219 3,753 17,466 5,004 MISCELLANEOUS REVENUE 495 450 45 3,115 4,050 935) 5,400 TOTAL INCOME 122,244 100,707 21,537 946,872 903,583 43,289 1,204,444 EXPENSES ADMINISTRATION MANAGER SALARIES 4,214 4,261 47 38,351 39,349 2) 51,132 PAYROLL TAXES 573 1,038 465 6,770 9,342 2,572 12,456 HEALTH INSURANCE 1,356 1,624 266 11,907 14,616 2,709 19,488 WORKERS COMP INSURANCE fib 180 94 660 1,440 780 1,920 MAINTENANCE SALARIESIWAGES 2,902 3,153 171 27,593 29,377 704 37,836 EMPLOYEE COSTS 80 80 0 800 800 0 1,040 SEMINAR/TRAINING 0 25 25 185 225 40 300 BANK FEES 0 5 5 13 45 32 60 DUES, SUBS & MEMBERSHIPS 0 10 10 55 90 35 120 LICENSE 8 PERMITS 0 0 0 699 676 23) 876 MILEAGE REIMBURSEMENT 24 68 44 404 612 208 816 POSTAGF/OVERNIGHT EXPRESS 16 12 4) 144 108 30) 144 PRINTING 0 5 5 50 45 5) 60 MANAGEMENT FEES 4,200 4,200 0 37,600 31,600 0 50,400 PROFESSIONAL FEES 27 267 241 1,517 2,403 886 3,204 TELEPHONE EXPENSE 656 527 131) 5878 4,743 1,135) 6,324 EQUIPMENT LEASEIREPAIR 200 104 96) 2,045 936 1,109) 1.246 OFFICE SUPPLIES 115 90 25) 843 810 33) 1,090 TOTAL ADMIN EXPENSES 14,512 15,629 1,117 135,914 141,617 5,703 168,504 RESIDENT SERVICES RESIDENT PROGRAMIACTIVITIES 409 283 126) 2,612 2,547 265) 5,113 TOTAL RES SERV EXPENSES 499 283 126) 2,812 2,547 265) 5,113 MARKETING ADVERTISING 0 400 400 6,712 3,600 3,112) 4,800 PROMOTIONALIPARTIES 0 0 0 6 700 700 700 TOTAL MARKETING EXPENSES 0 400 400 6,712 4,300 2,412) 5,500 HOUSEKEEPING CONTRACT LABOR 926 1,030 104 8.278 9,2.70 992 12,360 CLEANING SUPPLIES 200 110 90) 1,167 990 177) 1,320 TOTAL HOUSEKEEPING EXPENSES 1,126 1,140 14 9,445 10,260 815 13,680 Profit and Loss Variance VIt;KSBURG GROSSING Through September 30, 2014 MTD Actual Budget Var. YfD Actual Budget Var. Year Budget BUILDING & GROUNDS CABLE TV EXPENSE 119 125 6 1,179 1,125 54) 1,500 UTILITIES -ELECTRICITY 2,072 2,200 12B 17,155 19,500 2,345 25,300 UTILITIES - GAS 614 700 86 27,193 18,100 11,093) 22,700 UTILITIES -WATERI5EWER 1,270 1,150 120) 9,406 9,575 169 12,380 WATER SOFTENING SERVICE 182 162 0 1,417 1,638 221 2,184 DOORS, KEYS & WINDOWS 257 93 164) 661 837 24) 1,116 FIRE SYSTEM SERVICE 53 321 268 2,501 2,869 388 3,852 LAWN SERVICEfLANDSCAP/SNOW RMVL 1,784 1,225 559) 16,367 11,025 5,362) 14,700 PEST CONTROL 164 168 4 683 4,254 3,571 5.672 TRASH REMOVAL 539 300 239) 5,623 2,700 2,923) 3,600 UNIT TURNOVER REPAIRS 1,299 2,783 1,454 21,775 24,857 3,092 33.156 ELEVATOR -REPAIRS & MAINTENANCE 425 534 105 3,820 4,806 986 6,408 REPAIRS & MAINTENANCE 1,245 1,200 45) 19,326 21,500 2,174 27,400 BUILDING & GROUNDS SUPPLIES 846 750 96) 5,926 8,750 522 9.000 HVAC- REPAIRS & MAINTENANCE 276 740 464 6,639 5,660 21 6,868 MISCELLANEOUS B & G EXPENSES 0 833 633 0 7,497 7.497 9,996 TOTAL BUILDING & GROUNDS 11,146 13,284 2,138 139,894 141,723 1,829 187,844 OTHER OPERATING EXPENSES PROPERTY & LIABILITY INSURANCE 2,719 2,710 9) 24,041 24,390 349 32,520 PAYMENT IN LIEU OF PROPERTY TAX 4,562 4.664 62 41,238 41.976 738 55,968 TOTAL OTHER OPERATING EXPENSES 7,301 7,374 73 65,278 66,366 1,088 88,486 TOTAL OPERATING EXPENSES 34,494 38,110 3,616 360,055 366,813 6,758 489,129 NET OPERATING INCOME / ( LOSS) 87,750 62,597 25,153 586,816 536,770 50,048 715,315 DEPREC, INTEREST & OTHER EXPENSE DEPRECIATION EXPENSE 30,723 30,723 0 275,503 276,507 4 366,676 AMORTIZATION EXPENSE 208 208 0 1,971 1,572 1 2,496 RESERVEIREPLACE CAPITAL EXPENSE 15,537 0 15,537) 27,904 42,100 14,190 42,100 INTEREST EXPENSE 56,565 37,456 79,109) 524,972 337,104 167,668) 449,472 TOTAL DEPREC, INTEREST & OTHER 103,032 68,387 34,645) 831,250 657,583 173,667) 862,744 NET INCOME! 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Z a J w W } z z w K .J. - U' w W [7 W >- W Q U, J K J 2 Q 2 W O O_ a Ra¢¢ D Y z z m °4 w m a F O49w ~ z¢~ m m In cn N w Z 0 c O z w r r r K w w a O w C.i W W ¢ O H F H a D z wrc w W 0 Z m U 7 7 J u. a N 7 w m Ta: d a ~ O W 0 0.' F W r z 0 z cLsburg Crossing October 2014 Halloween Party Join your neighbors and friends at the Vicksburg Crossing annual Halloween party on Friday, October 31st at 5:30 in the community room!! Entertainment will be provided by the New Orleans Dixieland Jazz band the Maple Street Ramblers. We will be having beef tacos (with the fixings, lettuce, toma- toes and shredded cheese), salsa, chips and guacamole, and dessert will also be served. The cost for the party will be $5.00 and sign up will be on Wednesday, October 22nd and Thursday, October 23rd in the community room. The volunteer sign up sheet will be outside my office. Costumes optional but appreciated!! Hope to see you at the party!! New Resident Please welcome Bob and Ardith Bradshaw our new residents '0 in apartment 206 and Sally Jo Jones in apartment 110.`' 9p Welcome to Vicksburg Crossing! i Resident Coffee and Meeting Our next resident meeting will be Wednesday, _ 1st at 9:00 in the community room. Maintenance and Building Issues Before the really cold weather comes please turn on your furnace to make sure it is running properly and contact maintenance if you notice any problems or unusual noise. Check with the office before posting or removing anything on the bulletin board. Also, please be aware that the board is community space to be used by everyone in the building, if you choose to post something residents and visitors will have access to it. I would like to thank Kathy for the wonderful fall centerpieces she put together for the tables in the community room. Thanks to Jim and Nedra who have been picking up Hearts and Memorial flowers for residents. Thank You! i f ?aiE•. * '4ri i :" ` `;^ ti .. „a timed° 5`7 s * * "tea 5 f L -y 'nt 54'a` Y-- * 1,a` F Election Time State Law requires that we allow all registered candidates the opportunity to campaign in ti our building however, we can request that they allow time for Management to inform everyone that the candidate will be visiting. } 1 s On Thursday, October 2nd at 11:00 Audrey Britton, who is running for State g Representative, will be going door to door at Vicksburg Crossing to distribute literature. ,}a- A 5 d Q. Why didn't the skeleton dance at the party? A. He had no body to dance with. Q. What did the skeleton say after dinner? A. "Everything I eat goes right through me?" r \!r !i \!r \!r \!r \!r !i \!r \Vi J e J e \!r !r \!r .!i i! i 0.,r!C i!\ r{ \ 70-- 7 i!- IN, 7!, i!N, r!\ r!\ 7!t 7i--. t i!it "I", lit, r!T i!1 r!\ 7! iIx All -r!\ r!1Z 1/ \1/ 1\ %F 1; Rent is due on or before Sunday, October 5th \1\ 1 i!i C 71C 70-- r!\ r!C r!C 71C 711C r!\ r!\ 7!C At 7!\ r!\ r!C 71C r!C 7!C r!\ r!C Yoga Although we have had low turn out for the first couple of classes, Kelly Lindell, from Comfort Keepers/Active Aging, has agreed to try to keep the Yoga class going at Vicksburg Crossing because we have such a nice, albeit small, dedicated group of participants but we need at least Yo people to sign up each week to make it worth while for Kelly. The sign up sheet is on the table outside my office. I hope that if you have not participated before you will give it a try. The yoga class is on Tuesdays at io:oo in the community room. The cost is $3 per. class and you do not need to pay in advance, just bring the fee with you when you come. No previous yoga experience is necessary. We could not make it much easier! ! ! People benefit in many ways by participating in a yoga class. Every- thing from managing arthritic pain, to lowering blood pressure, de- creasing stress, increasing strength, improving flexibility and balance while enhancing feelings of well-being. Kelly does a wonderful job of including everyone no matter what limitations you may have or how much experience! Did You Know..... . Just 20 minutes of aerobic exercise (5X per week) can lead to cognitive improvement. Daily exercise reduces the risk of Alzheimer's and cognitive decline, even in those older than 80! Exercise improves insulin sensitivity—important because high blood sugar puts you at greater risk for Alzheimer's. Exercise appears to build a brain that resists physical shrinkage and enhances cognitive flexibility. Thanks to Eunice for sharing more good reasons to exercise! Q. What did one ghost say to the other ghost? A. "Long time no see." Q. Where did the baby ghost Q. Why did the ghost go into the bar? A. For sit? the Boos. A. In a BOOster seat! 9 lkft, tk e ilk Q 4 Ny ryr tktk Nr e«k 4rk lktklklkIlkk1kmtfttkvtkkvtk k tk kv k, N, 1k tk 1k k k k k October birthdays will be celebrated on Thursday, ocrone. isen I me community Room. The birthday celebration is open ro all residents who wish to Ha Birthday to the following residents this month: October birthdays will be celebrated on a, Thursday, October 16th in the Community Room. The birthday celebration is open to all residents who wish to me down and help us celebrate. come down and help us celebrate. Even if it's not your birthday) Our birthday y..ry f: ziwzy: o me am mu.:azy or me moven. Even if it's not your birthday) Our birthday darty is always •n the 3rd Thursday •f the month. Claudia Tomlin October 9thClaudiaTomlinOctober9th A.J. Doerner October 17thA.J. Doerner October 17th Nancy Rohrer October 23rdNancyRohrerOctober23rd Betty Peterson October 24thBettyPetersonOctober24th c oi Clemens o one zsmCarolClemensOctober25th Donna Hawkinson October 25thDonnaHawkinsonOctober25th Marion Hall October 26thMarionHallOctober26th Mary Ann Bauer October 28thMaryAnnBauerOctober28th WINz LL r_ m uaj O sS OO i O 4 O Lo p h o CK o bCr- y U kn a0 Q Q O O O O O jz CK o o 0 co N +[ a q a 4 CV o C N I 7t. 1 I C i.. dp U O oZZ c p d O O d O U U U up+ Do w VSiyo N o, N v\ qti O o ff~ O wJ ~ e U U o U U co c4 b M a I-- m N M Co U O CK C pco U q U S C O C o lis Ei Q, Ln ti ry M rpm GRACE MANAGEMENT, r, INC. M To: Plymouth Housing & Redevelopment Authority From: Jody Boedigheimer, Grace Management, Inc. Date: October 16, 2014 6225 42nd Avenue North • Minneapolis, MN 55422 163) 544-9934 FAX: (763) S44 -985B vrww.grace m anage men t. tom Subject: Plymouth Towne Square and Vicksburg Crossing Resident Survey Recap In September each resident of Plymouth Towne Square and Vicksburg Crossing was given a Resident Survey to complete. They were asked to rank how they feel about four general categories of Common Areas, Buildings/Grounds, Administration and Activities over a total of 19 questions. The scale is as follows: 1 = Poor (requires immediate attention) 2 = Fair (a concern) 3 = Good (acceptable) 4 = Excellent (noteworthy) PLYMOUTH TOWNE SQUARE 135 surveys were sent out and 69 were returned. The results are shown as a total number divided by the number of responses received for the specific question. Overall, the residents are very happy. The overwhelming majority of the answers are "Excellent" or "Good". The average score for the entire survey is 3.4 out of a possible 4 points. The Common Areas section of the survey scored an average of 3.5 as did the Administration section. The Buildings and Grounds section returned an average score of 3.4. The Activities section showed an average score of 3.3; the lowest category's score. While this is still positive, it is slightly down from last year's score of 3.4. Resident comments received are recapped and submitted with this report. VICKSBURG CROSSING 107 surveys were sent out and 60 were returned. The results are shown as a total number divided by the number of responses received for the specific question. Overall the residents are extremely happy giving an average score for the entire survey of 3.7 out of a possible 4 points. ACCREDITED MANAGEMENT ORGANIZATION® Specialized Management and Marketing Page 12 The Common Areas section of Vicksburg's survey was 3.5 giving lowest marks to the elevators' appearance and upkeep. This will be addressed in 2015 budget. The Building and Grounds showed an average score was 3.8, while Administration was the highest at 3.9. The Activities responses showed improvement in score over last year. It was 3.7 compared to 3.4 last year. Resident Comments received are included with this report. Overall we are pleased to receive such positive and constructive remarks from all of our residents. Plymouth Towne Square 2014 Survey Results: Total Score t of people who answered Average Score Prase rate hew Yu_.,fee baut the coimmon areal Plymouth ToWre Sq00e i Are they well maintained and comfortable? 239 69 3.5 2 Are the furnishings in the common areas suitable? 230 69 3.3 3 Is the interior lighting adequate? 248 69 3.6 4 Are the elevators clean and kept up? 240 67 3.6 5 Are the corridors & stairways clean & free of obstruction? 239 681 3.5 flees ;"rats 46W _au fee! abalut the butFd t and rounds;at P[ mouth dt ne . q,ere 1 How well is the building maintained? 237 69 3.4 2 How promptly does the maintenance staff respond? 236 68 3,5 3 How well are the grounds maintained? 239 68 3.5 4 How adequate is the outside lighting on the grounds? 228 68 3.4 5 How clean & well maintained are parking areas? 222 66 3.4 6 How well maintained are the public areas & restrooms? 233 67 3.5 7 How promptly are reported problems responded to? 228 68 3.4 P1: "ase r;i>1e hove= ou feel, ab+t-foie adrnints#raison of m uh_'wf e$ uar._ _: -- 1 Are office hours sufficient? 232 67 3.5 2 How timely is the managers response to concerns? 241 68 3.5 3 Was the explanation of the building facilities adequate? 231 69 3.3 4 How well does the staff work together as a team? 236 65 3.6 rate_hwtherr ttvrttes and serwtca. Wro rams meat_ our necfs„ m ,`: 1 Entertainment programs 2171 671 3.2 2 Activities programs 2231 671 3.3 3 Frequency of activities/entertainment programs 2181 661 3.3 SEE SEPARATE SHEET FOR COMMENTS PLYMOUTH TOWNE SQUARE 2014 SURVEY RESIDENT COMMENTS Common Areas/Building and Grounds Remarks Redecorate/repair common area furniture (6 similar remarks) Replace all appliances Clean stairs regularly Building is well maintained Enjoy common seating areas Hall walls need repainting Garden is an eyesore (3 similar remarks) Night lighting is poor (4 similar remarks) Outdoor benches have not been replaced Flagpole light needs adjusting PTS sign — north light is out Landscaping/snow removal is excellent (3 remarks) Parking lot and rear drive need repaving(4 remarks) Front door lighting is poor (2 remarks) Need hoses for outdoor building faucets. Need patio for picnic area West entrance rocks need replenishing Activities and Resident Rem Newsletter is waste; want no jokes just calendar and birthdays (3 remarks) Need building activities posted in all languages (PTS has 6) Activities have great variety and frequency Need more entertainment Chef Ray's breakfasts are fantastic Dog population is out of hand There are too many visiting children Need more English speaking people Administration Remarks Need more disciplinary action for those who don't follow rules Need to assure that visually challenged residents understand all communications Couldn't ask for a better manager Very thankful for a pleasant and dependable manager and maintenance man (28 similar remarks) Management needs to be changed top to bottom (3) Very happy here Resident Meeting recap should appear in the newsletter When will we get Wi-Fi? Questions should be repeated at the resident meeting Vicksburg Crossing 2014 Survey Results: Tota[Score of people who answered Average Score 5 ': Rl se r#e,how ptt 'e8l 2t 7o„ratTtl C4rl mor are apt 1/ick bur , Cros.[rt 1 Are they well maintained and comfortable? 213 58 3.7 2 Are the furnishings in the common areas suitable? 216 59 3.7 3 Is the interior lighting adequate? 198 56 3.5 4 Are the Elevators clean and kept up? 192 60 3.2 5 Are the corridors & stairways clean and free of obstruction? 215 59 3.6 a _ l?Ieae rate.hovir_ u=#gel>+put#e,builiiln ,atic?<. roundt[kspu, fro;; i. 1 How well is the building maintained? 223 59 3.8 2 How promptly does the maintenance staff respond? 238 60 4.0 3 How well are the grounds maintained? 231 60 3.9 4 How adequate is the outside lighting on the grounds? 212 58 3.7 5 How clean & well maintained are the parking areas? 226 60 3.8 6 How well are the rest rooms & public areas cleaned? 221 60 3.7 7 How promptly are reported problems responded to? 234 60 3.9 riQ;s.r eholm mQtt fe1'.ottt the.adrt?in€tratan of V cksur Crus i 1 jAre the office hours sufficient? 230 60 3.8 2 How timely is the manager's response to concerns? 242 60 4.0 3 Explanation of the building facilities (CR, Library, maintenance) 220 59 3.7 4 How well does the staff work together as a team? 227 58 3.9 Fieserat fcyri,the crept 2[ctivitles aid service,pr rrds meet our.ned, 1 Entertainment programs 219 58 3.8 2 Activities programs 206 57 3.6 3 Frequency of activitieslentertainment programs 205 57 3.6 SEE SEPARATE SHEET FOR COMMENTS VICKSBURG CROSSING 2014 SURVEY RESIDENT COMMENTS SECTION ONE/COMMON AREAS 1 am happy with all areas. Poor apartment lighting Some residents have a lot of decorations outside their door. Could use better lighting in our kitchens. The community room could be brighter No problems. It's all in good shape. The carpet on the 1 st floor is stained. When looking at the common areas with relatives a comment was made about how well kept the buildings and grounds look. Floors in elevator need cleaning Really appreciate the new cleaning staff. I have observed them cleaning several times and they are very thorough. They seem to go the extra mile. 1 think this building is maintained very well. It's well -kept and well lighted 1 moved here last year and I have no complaints. If I have a specific question Sara is always there to answer it. The new chairs are uncomfortable for me. 1 am pleased with how clean and neat things are. I tell my friends how pleased 1 am with the exterior and interior. Lots of carpet stains. Carpet is often spotted and dirty. SECTION TWO! BUILDINGS AND GROUNDS My experience with maintenance staff from Town Square was not very good. Only had one experience. Everything is very well done. I've remarked on it to many. Cutting around water in back did not consider what was destroyed. Milk Weed that supports Monarch butterflies. Overall impression - hack job. Watering during rain. Very good maintenance department. Very happy with everything here. No complaints The floors in the parking garage need to be cleaned more often. The chairs in the community room are dirty. They clean the backs & the seats but not the sides and the seat. Sara & Mike are always on top of things. I'm very pleased with the staff that takes care of this building. Great staff. Needs to be brighter in community room. We are lucky to have such a great staff. Communicate very well The elevator floors are spotty and the community room gets chilly. SECTION THREPACTIVITIES Exercise or more yoga I'm only interested in exercise programs. The exercise room is terrible! A balance program might interest more people. If we have another long winter I'd prefer more in the building G Sara is the best and so is Mike - Happy Happy Happy!!! Controlled by a couple of people Someone to speak about how to de -clutter a small apartment. Individual appointment with a Real Estate consultant re: decorating my living room You have stated that the CR kitchen will be in the budget soon that is great! For the whole time I've been here there have not been many problems, but when any arose they were handled promptly. Apartment cleaning service. It would be nice if we could have police talk on personal safety & collect our old meds safely. I'm not home a lot. Sara provides an excellent variety of activities and programs. Some form of exercise should be furnished. 1 am very happy & satisfied the way things are run. If there is a problem they're always right there to help. Would like to see more magic and comedy - it's good to laugh. Would be great to have trips together - maybe a river cruise or wine tour SECTION FOUR/ADMINISTRATION Staff communicates very well. a We are lucky to have such a great staff. 1 think the staff gets along fine. No problem. 1 have a concern for residents in wheel chairs and walkers in the case of an emergency. ADDITIONAL COMMENTS 1 love living at VC. It has been a very pleasant place to live. It's well lighted and clean and very pleasant. A very inviting place to live. 1 am very happy here at Vicksburg Crossing. I always feel very safe and taken care of when needed. Whenever I have any questions Sara is always there to answer them. The only complaint I have is the exercise room. It is cramped, hot, and not much of an asset in my opinion. The TV does not work half the time and the tread mill has been broken forever. 1 think to get a fair and accurate consensus as to how people are feeling here these surveys should be sent directly to Grace Management or Jim Barnes. Sometimes I think Management might listen to one person who lives here too much as to what people want and need here. Office Management and maintenance staffs are exceptional. I don't like the apartments but the residents, the staff and the convenience keep me here. 1 enjoy living at V.C. Manager is responsive to requests "runs a tight ship" other residents are friendly and respectful. For the time I have lived here there have not been too many problems, but when any arose they were handled promptly. Living in a unit over the garage has been one concern, primarily for noise w/cars leaving early in the morning, sometimes as early as 3 AM. My bed is right over the garage door. The only thing I think could be better is the carpet in the activity room. It needs to be replaced. A larger exercise room with more useable equipment is needed in the building. m very glad I live at Vicksburg Crossing. The people are great. It's clean and comfortable. I just hope the rent doesn't go so high that I would have to move. Sara and Mike address the needs or the community well. The suggestion I have is that there be a maintenance schedule so that the maintenance needs are met prior to a problem happening. An example of this is the air conditioning maintenance. We appreciate the diligence of our staff!! Excellent job!! Agenda Number 3. 5. 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 23, 2014 SUBJECT: Plymouth Towne Square --- Approve 2015 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, 2015 through December 31, 2015, including a current estimate of actual expenditures for 2014. After discussions with internal staff and Grace Management, the attached operating budget is ready for review and approval by the HRA board. 2015 BUDGET: Revenue: Overall revenues for the 2015 are projected to be $924,820. Included in this figure are revenues from tenants, parking stall rentals, application fees, investment income and the HRA tax levy. Tenant rents are anticipated to be $642,324, which is up approximately $12,000 from last year and includes a rent increase of two percent. The tax levy is projected to be 218,000, which is $3,000 higher than 2014. Expenditures: Staff has reviewed the 2014 year-to-date budget and contacted our vendors to arrive at the anticipated 2015 expenditures. The proposed operating expenditures are $504,560, which is about $19,000 higher than 2014. Reserve/Replacement Account: The 2015 budget anticipates adding $84,000 to our replacement reserve account, which is the same as last year. Staff continues to review 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 2015 including the replacement of appliances, mill and overlay of the parking lot and replacing section of curb and other concrete, repairing five catch basins, purchasing a new copier, replacing chairs and tables in the solarium, and replacing two outdoor benches. The estimated cost for this work is $91,307. These funds will come from the building's replacement reserves. RECOMMENDATION: Staff recommends that the Plymouth Housing and Redevelopment Authority Board of Commissioners adopt the attached resolution approving the 2015 Plymouth Towne Square Operating Budget. ATTACHMENTS: 2015 Budget Assumptions 2015 Budget Resolution Approving 2015 Plymouth Towne Square Operating Budget PLYMOUTH TOWNE SQUARE 2015 Budget Assumptions REVENUE: Resident Rent Revenue is based on calculating the average year to date rent per unit amount of $541 at 97 units occupied per month with a 2% increase added to that figure. We budget 98% occupancy to allow for turnover time & rent fluctuations based on new resident's rent rate which is driven by income. All current residents will be subject to a 2% rent increase on January 1, 2015. The minimum rents are proposed to increase 2% to $404 for a one -bedroom (up $8) and $541 (up $11) for a two-bedroom. The market rate rents are proposed to remain at $935 for a one -bedroom and $1200 for a two- bedroom based on market study. HRA Subsidy will be $218,000 for the year 2015. Garage Rental is based on 64 stalls leased at $45 a month each. We do not recommend making a change to this rate in 2014. Guest Room Revenue is based on 3.5 nights rented per month at $60 a night. This rate is an increase over last year of $5/night. This estimate is reasonable using an average of the past several years. Laundry Revenue is based on 2014 budget figures. 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 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. Confidential Page 1 10/15/2014 OPERATING EXPENSES: Property Administration: Manager Salary_ This figure includes a 3% increase over 2014. Maintenance Salary is based on a full-time position at 40 hours/week regular time. No overtime is budgeted as hours are balanced during the week to avoid overtime due to emergency calls. Each building has a full-time maintenance technician who works primarily at that location. They assist each other as needed and share emergency call duties. Payroll Tax is budgeted at 12% of the total of all salaries. It includes FICA, FUTA & S U TA. 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. 2014 both eligible employees opted for coverage. The amount is based on current premiums as of July 2014 plus an estimated increase by the industry trend of 10%. Worker's Compensation Insurance premium is estimated based on 2014 rates. Employee Costs include ADP fees, help wanted ads, background checks for new employees and are based on 4% increase to 2014 Jan -Jun actual figures. Dues & Subscriptions includes the price for Sam's Club membership (new in 2014 as savings over other stores warranted membership price) and a creative newsletter subscription for resident newsletter ideas. License, Permit & Dues are based on City of Plymouth assessed fees for the boiler license of $25, dwelling license of $694 and elevator license fees of $200. No increase budgeted for 2015. Employee Mileage is same as 2014 budget figure which is on track with 2014 YTD. Postage/Overnight Delivery is an estimate based on 2014 YTD with 10% increase. Management Fees is based on a proposed increase of $150 per month or 3.4%. The last increase was in 2013. 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, Confidential Page 2 10/15/2014 Telephone includes the cellular phones for the maintenance staff (split with VC) and the incoming lines for the property along with internet and long distance expenses. The budget is based on an 8% increase in 2014 budget. Equipment Repairs/Maintenance/Lease is based the anticipated copier maintenance fees ($175/quarter) with a new copier the maintenance fees will be reduced and occasional maintenance on the resident and office computers. Office Supplies & Expenses include the office supplies for the office and printer cartridges and some paper for the resident computers. The is a 12% increase over 2014 budget due to higher paper usage with larger resident newsletter, but is on track with 2014 YTD. 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 estimated based on the need for business cards, letterhead & envelopes. SeminarslTraining is based on attendance at one training session. Resident Service 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. 2015 is budgeted at 8% increase over 2014 budget, The large increase is due to an average of 30% greater attendance at events over previous years. Marketing and Leasing: 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 2015 and the cost of contract cleaning for the guest suite at 1.5 times per month. 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. 2015 budget is figure is unchanged from 2014. Confidential Page 3 10/15/2014 Buildings and Grounds: Cable TV is based on monthly expense incurred for the TVs in the activity room and exercise room with an 8% increase over 2014 YTD. This represents no increase over 2014 budget. Electric is based on a balance among 2013 actual, 2014 YTD and 2014 budget. Water and Sewer is based on 2.5% over 2014 budget based on the increase anticipated in rates. Gas is an estimate based on a balance between the mild winter represented in 2013 actuals with that of the extreme cold winter represented in the 2014 YTD figure. Water Softener is based on a 9% increase over 2013, but represents a reduction compared to the 2014 budget. Contract Labor is not anticipated with a full-time maintenance employee who can cover for time off of other building's maintenance worker. Doors, Keys and Windows is for the miscellaneous window replacement/repairs, garage door repairs/service, keys made and any other lock/door 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. 2014 experienced $2500 in repair work and more work is required thus the significant increase in the line item budget. Lawn Care/Snow Removal is based on historical. Work includes spring clean up, weekly mowing, weed control, spring/fall shrub trimming, tree trimming, spring parking lot sweeping and snow plowing. The 2015 budget is a 20% increase over 2014 budget to account for a more realistic amount of snow plowing expense. Pest Control includes quarterly treatments and is based on PTS current rate. The 5,000 contingency for emergency bug treatment has been removed this year as it hasn't been required since implementing. If it becomes necessary we will add it back in. Trash Removal is based on pricing arranged in conjunction with City contract. This also includes the occasional extra charges for disposal of light bulbs and appliances. This was under budgeted in 2014 which is why the increase is 20% Unit Turnover includes carpet/vinyl replacement or cleaning, contract painter, cabinetry/counter top repair, paint and plumbing supplies, etc. for apartments that are being re-leased or turned over. The average cost per apartment turnover for the past Confidential Page 4 10/15/2014 11 years is $3,935. That same 11 years shows an average number of move outs to be 10. As the building is 20 years old and we have a large number of apartments that have long term residents we will continue to see high turnover costs. We are budgeting 10 turns at $3935 each. Elevator Repairs and Maintenance includes contract for maintenance, plus any service calls that may not be covered by the maintenance contract. The 2014 budget figure reflects a 5% increase over 2013 contract plus $800 for extra service call for contingency. Repairs & Maintenance includes garage floor power washing, window washing, carpet cleaning of apartments occupied three years, painting of apartments occupied more than seven years, vinyllcarpet repair/replacement in occupied units, cleaning of common area carpet annually, generator maintenance, plumbing repairs, repairs to the exterior siding, fascia, and roofing and all other misc. repairs. We didn't paint remainder of metal trim and common area hallways below wallpaper border in 2014, but plan to in 2015. Building & Grounds Supplies includes common area paint and repairs, light bulbs, plumbing supplies, tractor supplies/repairs, common area blinds, guest suite supplies, holiday decorations and other misc. supplies. This reflects a decrease compared to 2014. HVAC -Supplies & Repair includes all HVAC supplies, repairs and maintenance contract with Owens for the boilers, etc. The 2015 budget reflects a 4% decrease over 2014 budget. We continue to budget a large expenditure (condenser or like problem) as the systems age and want to cover the unexpected with the HVAC system. Miscellaneous Unbudgeted B&G Expense is a contingency figure for the unexpected. Non -Departmental Expenses Propel and Liability Insurance is based on 4% increase over 2013 premiums (GL is 15,826 & Prop is $14,613). Payment in Lieu of Taxes (PILOT) is budgeted at 5% of 2014 rental dwelling revenue 643,200 estimate) to be paid in 2015. RESERVE REPLACEMENT FUND We have maintained the reserve replacement amount at $84,000. Confidential Page 5 1011512014 CAPITAL EXPENDITURES: We are budgeting for the purchase of new copier to replace 2005 model ($4,300), tables & chairs for the solarium ($3,700), mill and overlay parking lot ($47,803), replace sections of the driveway curbigutter, ($11,056) and miscellaneous concrete repair and replacement, ($9,448), replace 5 catch basins ($10,000), replace 2 outdoor benches 2,000) and apartment A1C units, stoves & refrigerators ($3,000) Confidential Page 6 10/1512014 PLYMOUTH TOWNE SQUARE 2015 BUDGET DRAFT Percentege Percentage 2013 2014 2014 2015 Difference Difference ACTUAL Jan -Jun BUDGET BUDGET Budget 15 Budget 15 TOTALS ACTUALS TOTALS TOTALS Actual 13 to Budget 14 UNITS OCCUPIED 99 99 97 97 3% 1% PERCENTAGE OCCUPIED 100% 100% 98% 97% 3% 1% INCOME RESIDENT RENTS 622,669 321,530 630,744 642,324 3% 2% HRA SUBSIDY 206,004 107,502 215,004 218,000 6% 1% GARAGE RENTAL 35,721 17,793 34,560 34,560 3% 0% GUEST ROOM REVENUE 1,870 1,485 2,316 2,520 35% 9% LAUNDRY REVENUE 10,344 5,218 10,260 10,260 1% 0% TRANSFER FEE 0 0 500 500 n/a 0% APPLICATION FEE 325 115 636 636 96% 0% INVESTMENT INCOME 7,507) 14,338 15,000 15,000 300% 0% UNREALIZED GAIN/LOSS 7,169) MISC. REVENUE 216 124 2,220 1,020 372% 54% TOTAL INCOME 862,473 468,105 911,240 924,820 7% 1% PROPERTY ADMINISTRATION: MANAGER SALARIES 41,551 23,132 46,524 48,000 16% 3% MAINTENANCE SALARIES 18,143 21,035 45,132 41,600 129% 8% PAYROLL TAXES 7,997 4,709 12,828 10,752 34% 16% HEALTH INSURANCE 5,737 7,843 5,352 15,008 162% 180% WORKERS COMP INSURANCE 677 424 2,136 950 42% 55% EMPLOYEE COSTS 1,107 520 1,040 564 49% 46% DUES & SUBSCRIPTIONS 0 0 0 210 nla n/a LICENSES, PERMITS & DUES 924 23 894 919 1% 3% MILEAGE REIMBURSEMENT 802 500 1,068 1,068 33% 0% POSTAGEIOVERNIGHT DELIVERY 92 49 96 110 20% 15% MANAGEMENT FEES 52,800 26,400 52,800 54,600 3% 3% PROFESSIONAL FEES 1,409 289 4,200 4,284 204% 2% TELEPHONE EXPENSE 5,901 2,999 6,000 6,480 10% 8% EQUIP REPAIRS/MAINT/LEASE 1,931 2,270 1,560 1,680 13% 8% OFFICE SUPPLIES & EXPENSES 1,258 698 1,140 1,272 1% 12% BANK CHARGES 50 67 60 60 20% 0% PRINTING 695 0 120 180 74% 50% SEMINARS/TRAINING 255 0 300 300 18% 0% TOTAL PROPERTY ADMINISTRATION 941,329 90,958 181,250 188,047 33% 4% RESIDENT SERVICES EXPENSES 5,557 1,605 5,200 5,630 1% 8% MARKETING & LEASING: 84 0 180 180 n/a 0% HOUSEKEEPING CONTRACT LABOR 17,390 8,666 18,252 18,252 5% 0% CLEANING SUPPLIES 1,440 557 1,380 1,380 4% 0% TOTAL HOUSEKEEPING EXPENSES: 18,830 9,243 19,632 19,632 4% 0% BUILDINGS & GROUNDS: CABLE TV EXPENSE 668 333 720 720 8% 0% UTILITIES -ELECTRIC 29,927 13,118 27,300 29,484 1% 8% UTILITIES -WATER & SEWER 9,347 3,990 9,540 9,780 5% 3% UTILITIES -GAS 19,880 18,571 22,000 28,000 41% 27% WATER SOFTENING EXPENSE 3,710 1,866 4,140 4,056 9% 2% CONTRACT LABOR 0 0 0 0 nla n/a DOORS, KEYS & WINDOWS 2,262 3,665 4,200 4,200 86% 0% FIRE SYSTEM SERVICE 4,714 3,507 4,980 7,200 53% 45% LAWN CARE/SNOW REMOVAL 24,969 18,552 19,200 23,040 8% 20% PEST CONTROL 579 290 5,580 612 6% 89% PLYMOUTH TOWNE SQUARE 29,742 15,219 31,656 32,349 9% 2% PAYMENT IN LIEU OF PROPERTY TAX 2015 BUDGET DRAFT 15,693 31,044 32,159 2% 4% Percentage Percentage 0 2013 2014 2014 2015 Difference Difference 62,700 ACTUAL Jan -Jun BUDGET BUDGET Budget 15 Budget 15 INTEREST EXPENSE TOTALS ACTUALS TOTALS TOTALS Actual 13 to Budget 14 TRASH REMOVAL 3,466 2,077 3,600 4,320 25% 20% UNIT TURNOVER 27,586 10,220 32,004 39,350 43% 23% ELEVATOR REPAIRS & MAINT 6,111 3,124 7,200 7,200 18% 0% REPAIRS & MAINTENANCE 30,447 19,440 35,500 31,000 2% 13% BUILDING & GROUNDS SUPPLIES 14,701 5,315 19,200 16,800 14% 13% HVAC SUPPLIES & REPAIR 4,493 1,705 11,220 10,800 140% 4% MISC UNBUDGETED EXPENSE 0 0 9,996 10,000 nla 0% TOTAL BUILDINGS & GROUNDS 182,860 105,773 216,380 226,562 24% 5% OTHER OPERATING EXPENSES PROPERTY & LIABILITY INSURANCE 29,742 15,219 31,656 32,349 9% 2% PAYMENT IN LIEU OF PROPERTY TAX 31,385 15,693 31,044 32,159 2% 4% SPECIAL ASSESSMENTS 0 0 0 0 nla n/a TOTAL OTHER OPERATING EXPENSES 61,127 30,912 62,700 64,509 6% 3% TOTAL OPERATING EXPENSES NET OPERATING INCOME 1(LOSS) 409,787 238,491 485,342 452,686 229,614 425,898 504,560 23% 4% 420,260 -7% -18% OTHER EXPENSES: DEPRECIATION EXPENSE 202,127 98,698 201,996 185,466 8% 8% AMORTIZATION EXPENSE 6,319) 3,159 6,324 6,320 200% 0% RESFRVElREPLACE/CAP EX 27,146 6,192 32,000 91,307 INTEREST EXPENSE 94,512 44,471 88,440 80,938 14% 8% TOTAL OTHER EXPENSES: 317,466 152,520 328,760 364,031 15% 11% NET INCOME: 135,220 77,094 97,138 56,229 58% 42% CASHFLOW ADJUSTMENTS: REPLACE/RESERVE TRANS OUT 35,000) 0 84,000) 84,000) 140% 0% REPLACEIRESERVEICAP EX 27,146 6,192 32,000 91,307 236% 185% DEPRECIATION 202,127 98,698 202,000 185,466 8% 8% AMORTIZATION 6,319) 3,159 6,320 6,320 200% 0% PRINCIPAL ON DEBT 245,000) 0 250,000) 255,000) 4% 2% NETCASHFLOW: 78,174 185,143 3,458 322 100% 91% o o v o 0 0 0 o m o 0 o 0 w J Lo W fl O LO VN) N ul m 0 C W N04mcvmvc,4o iiir04v `o N 0 m N m m m W a D C U) W Z W 0 r F_ Z WH F- DD H w o W zwaw m J z a. ^ r wOW N T I - z 0 m po h hpou)omc.m h Ch Oh) W 001i) rcq m N m n Clm eqIr IX WQ O I- mwo >-w--W Zmww gz m W N r O w CO w 4d QEL > O O r 0wT (D(.7gH4 H h 10 VR h h 0 0 )O c) O )i) h Or) W (O N W N m 0 V) m N r h LO r h h o h h O O u) m O L) h O) mO) N IQ MLO LQ r ccN CO 11) 4) 00N 14O m m N h 47 r h h e h h p p 4) Cl) 4 )n r Q) WW N (O WLo u) W N M V] m WN NO Cl) c0 N r h IO r h IO o h h 0 0 V) m 0 )if h Oh) t O cc NCOO W NLO m O m o0 SV r h N r h IO o h n O O I[) m 0 10 h T Oa) Nr) m N 0 03 00 N CO C m (A N r f~ LO r h to t• P`oow m0 LO r-- m L 00 N m N coMLO O CO m N r t` U) h ho r-hooVn moinI- M coCIJ 0) m CO NO (P a7 mN N0 m W N li) r I' - D10 o r+ h O O u) m 0 )O h 6) O O w to CO N W to wN W 14O m m N T h r h h o ti !+ p p )() 0 o )O h 6) coO) N 10 m1() i) W N W to U) WN NO Cl) 00 N r h LO r 1. h o h r- O O N 0 O IC) h m N 0: DM LOLON LOo Cl a0 N r h u) r h no h ooUn Cl) owr- Q) m0) N en co ` )O W r m N W O 1() coN NO m mN U) r r- h W w ` w z wWWW Z W M 0., H - i W z w U coQWWW, Z W U zw> -Z jLLZ JU0 aw IX WQ O I- mwo >-w--W Zmww gz C) p cp¢0¢oiU ; 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MD hF O ww 0 Lij Kw00 U z m JJJFZOW F W a Q QU a W r O W a00w J z UOFrraOQQ o W 2' Z J W 7 F S Q F F F 2 W w F F w D V a D 0C3 a2w wwmx 0 O n.a0 0 Z DOQof 0 z a EL 0 a I.- o n (D O o N C3 C3 (D 04 C3 C14LLIJ O F- O [7 (7 O 0 a0 T Cp w) N O r v CO ~ W O 0 N O O Q o V Lf) h u) D oouu)No cl Z o n M r N F- U o uww i Hm p O v_ Lo v_ N W o 00 m r- o ti UY O n O M N N 5 0 N A VN O 0 m 1 O O oO c3 LO NLON o Q O O U) N O O N V RC1 CMS N Q o u NP o O V a0 y T rN a' O CL o Ou) N n Q P O 7 u) Q1r r N no LoN Ln Ci 7 LD I'- N Q1 m o w o W NoulN A LL. Y r W Q O O LO N O W vLf) Cl) N VJ Z W 0 r Z O i»Nu Wz Lg mo F- r Q, F FW W F- D Z U W w D - W ZZO FL z Q aooa o LLLU 0 w Q W O U W W a Q w =-toa-0z U Q U) W W U1 L.:F- Nz V O Q a z a oN Q N h O u E PLYMOUTH HOUSING REDEVELOPMENT AUTHORITY HRA RESOLUTION NO. 2014-08 AUTHORIZING THE 2015 OPERATING BUDGET FOR PLYMOUTH TOWNE SQUARE WHEREAS, pursuant to Minnesota Statutes, sections 469.001 to 469.04' (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 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 2015 budget for PIymouth 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 2015. 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 2015 has a total operating expense amount of $504,560 and other expenses of $364,031 for a total budget of $868,591. 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 23` d day of October, 2014. Agenda Number 3 'e4s 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 23, 2014 SUBJECT: Vicksburg Crossing — Approve 2015 Operating Budget BACKGROUND: Staff has reviewed the budget for Vicksburg Crossing submitted by Grace Management for the operation of the property for January 1, 2015 through December 31, 2015, including a current estimate of actual expenditures for 2014. 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 ninth year of operation, staff has once again reviewed the previous year's performance and adjusted the 2015 budget accordingly to current market conditions. 2015 BUDGET: Revenue: Overall revenues for the 2015 budget are based on maintaining the percentage of rented units throughout the year and it is anticipated that the average occupancy will be 97%, which is 1% higher than previous years. Income will also be received from garage rentals, application fees, and investment income. Total revenues for 2014 are projected to be $1,239,125, which represents a three percent increase from the 2014 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 one bedroom and one bedroom plus den moderate income units and a $20 per unit increase for the two bedroom units. In addition to the rental revenue, staff is anticipating the need for subsidy in the amount of $60,000 for this budget year, which is $10,000 higher than 2014. This subsidy will directly offset the transfer to the replacement reserves for future improvements. Expenditures: Expenditures are anticipated to increase by five percent. Most notable are the increases in the building and grounds category. As the building ages, the unit turnover is becoming more expensive as we are starting to replace flooring in the units. In addition, utilities such as gas, electricity, and water continue to rise. ReservelRe lacement Account: The 2015 budget anticipates adding $60,000 to the replacement reserve account, which is the same as last year. In 2013, 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. Staff is proposing a number of capital improvements to the building for 2014 including replacing carpet and vinyl flooring in the lobby area, elevators and the community room kitchen. We will also be repairing the remaining three catch basins/concrete slab in parking lot and sealcoat the parking lot. The estimated cost for this work is approximately $20,000. These funds will come from the building replacement reserves. RECOMMENDATION: Staff recommends that the Plymouth Housing and Redevelopment Authority Board of Commissioners adopt the attached resolution approving the 2015 Vicksburg Crossing Operating Budget ATTACHMENTS: 2015 Budget Assumptions 2015 Budget Resolution Approving 2015 Vicksburg Crossing Operating Budget VICKSBURG CROSSING 2015 Budget Assumptions REVENUE: Resident Rent Revenue: Is based on the attached income schedule. We propose a rent increase of $10 for the affordable apartments bringing them to $775 a month. We are recommending a $15 increase for all 1 bedroom and 1 bedroom/den apartments and $20 for the 2 bedroom 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 91 units or 97%. This is aggressive, but has been achieved over the past few years. Resident Rent Revenue -Section 8: Is based on July 2014 resident roster who receive Section 8 subsidy. HRA —Subsidy (tax_ levy): The subsidy is budgeted this year at $60,000. Garaqe 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 2 nights a month at $70/night, which is historically achievable & average. 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 1 transfer fee per year at $500 each. Investment Income: Is based on figures provided by City of Plymouth Finance Department. Late Fees: is based on one late fee each month. Miscellaneous Revenue: Includes storage space revenue based on $101monthlspace, charges for extra key fobs and security deposit amounts withheld for damages incurred. It's based on 2014 year to date. Confidential Page 1 1018!2014 OPERATING EXPENSES: Property Administration: Manager Salary This figure includes a 3% increase over 2014. Maintenance SalaN is based on a full-time position with a 1 % increase over 2014. The position is budgeted at 40 hours/week regular time and 3 hours per week over time to account for emergency calls. Each building has a full-time maintenance technician who works primarily at that location. They assist each other as needed and share emergency call duties. Payroll Tax is budgeted at 12% of the total of all salaries. It includes FICA, FUTA & S U TA. 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 both of the eligible employees are taking coverage. The amount is based on current premiums as of July 2014 plus an estimated increase by the industry trend of 10%. Worker's Compensation Insurance premium is estimated based on 2014. Em to ee Costs include ADP fees, help wanted ads, background checks for new employees. A 4% increase over 2014 is budgeted. Dues, Subscriptions & Memberships is based on fees for Costco membership. License & Permit are based on City of Plymouth assessed fees for the dwelling license at $100 for the building, plus $S per dwelling unit ($070), Boiler license fee ($23) and Elevator license fees ($200). Employee_ Mileage is based on the 2014 budget. The mileage reimbursement for the maintenance staff is split 50100 with PTS as nearly all of the mileage for these individuals is traveling between the properties. Postage/Overnight Delivery is an estimate based on 2014 YTD actual. This includes mailing brochures to prospects. Management Fees is based on 2014 figure 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, Confidential Page 2 10/8/2014 Telephone includes the cellular phones for the maintenance staff (split with PTS) and the incoming lines for the property along with internet and long distance expenses. 2014 Wi-Fi was brought into the community room and library/computer room for resident access. The budget is based on 2014 YTD actual plus a 6% increase Equipment Repairs/Maintenance/Lease is based on the annual cost of $636 for copier maintenance fees ($63 a month) and occasional maintenance on the resident and office computers (budgeting 8 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 3% increase over 2014 budget. 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 2014 actual. This line item would include letterhead, envelopes, business cards etc. as needed. Seminars/Training is based on attendance at one training session per year. Resident Service Expense: Resident Service Expense is an estimate. Expenses include things like monthly musical entertainer, special holiday events, dinner served during National Night to Unite 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. Food and coffee costs are expected to rise more than usual in the coming year. It is based on the 2014 budget plus 7% increase. Marketing and Leasing: Advertisinq is an estimate based on monthly ad placement for on-going marketing presence in local papers, Twin Cities Senior Housing Guide and the costs for monthly maintenance of a website for Vicksburg Crossing. Promotional Events we have budgeted zero dollars for this line item as we have not used these funds for the past two years. Confidential Page 3 10!812014 Housekeeping: Contract Labor is budgeted using the cleaning company contract rate for 2014 plus an average of 1.5 cleanings a month of the guest suite at $35 a time, 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 2014 budget. Building and Grounds: Cable TV is for the exercise room, community room big screen and Guest suite. The budget is based on 5% increase to the 2014 budget. Electric is based on a 2013 actual with an 8% increase. This figure is the same as the 2014 budget. Water and Sewer is based the 2013 actual figure with a 2 % increase. Gas is an estimate based on a balance between the 2013 (an average winter) and 2014 YTD (extreme cold winter). This figure is a large increase over 2014 budget which was under budgeted due to the previous mild winters. Water Softener is based on a 2014 budget with no increase. Salt usagelcosts are under budget for 2014 YTD, so we aren't budgeting an increase. Contract Labor is not necessary with maintenance employees who can cover for each other for time off. Doors, Keys and Windows is for window replacement/repairs, hey blanks (costly based on Primus key system), key fobs and any other lockldoor repairs. We have reduced this line item accordingly based on the past two years. Fire System Service includes costs to test, inspect, monitor and service the fire suppression system, fire extinguishers and front entry system. We also budget approximately $700 for an unexpected repair. 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 snowing, weed control, spring/fall shrub trimming, and spring parking lot sweeping. Adding mulch to the beds is done every other year; 2015 being the year to add. Pest Control includes quarterly treatments at $170 each time. This year we have removed the $5,000 contingency for bug treatment purposes as it has not been required since implementing. If it becomes necessary we will add it back in. Confidential Page 4 10/8/2014 Trash Removal is based on new contract pricing through the City and includes some extra fees 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. Over the past 30 months we have averaged 14.4 turns a year at an average cost of $2394 per turn. We are budgeting 15 turns at $2514 (increase of 5% over historical average). The apartments will be approaching 9 years and require more flooring replacement than previous years. We have also had to replace several appliances. Elevator Repairs and Maintenance includes contract for maintenance, plus a $1200 contingency for service calls that may not be covered by the maintenance contract. The amount is based on the 2014 contract plus 5% increase based on historical contract price increase. Repairs & 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 are repairing another 3 catch basins ($6,000) and sealcoating and re -striping parking lot (these expenses are in the reserve replacement line). 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 7% increase to 2013 actual, but reflects a decrease to 2014 budget. HVAC Supplies & Repair includes all HVAC supplies, repairs and maintenance contract with Owens. There is a 4% increase over 2013 budget based the estimated increase in contract pricing. Miscellaneous Unbud eted B&G Expense is a contingency figure for the unexpected. Non -Departmental Expenses: Property Taxes are based on 5% of the estimated annual 2014 income for dwelling units (approx. $1,077,000) which is payable in 2015. Property and Liability Insurance is based on current rates ($17,176 for liability) with a 5% increase and 2014 property rates ($15,548) with a 5% increase as given by City finance staff. Confidential Page 5 10/8/2014 RESERVE REPLACEMENT FUND We will continue to set aside $60,000 annually for 2014. CAPITAL EXPENDITURES: Replace Lobby area carpet ($6,000). Replace flooring in elevators ($1,000). Replace flooring in Community room kitchen area ($1700). Replace 3 catch basins ($6,000). Sealcoat and fill cracks in driveway ($5,000) Confidential Page 6 1018!2014 VICKSBURG CROSSING 2015 BUDGET -DRAFT 94 INDEPENDENT UNITS - rentable, 96 constructed UNITS OCCUPIED PERCENTAGE OCCUPIED Percentage Percentage 2013 2014 2014 2015 Difference Difference ACTUAL Jan -Jun BUDGET BUDGET Budget 15 Budget 15 TOTALS ACTUALS TOTALS TOTALS Aclual13 Hudge114 93 94 90 91 -2% 1% 99% 100% 96% 97% -2% 1% INCOME APARTMENT RENTAL REVENUE 1,099,672 556,127 1,079,940 1,105,939 1% 2% APARTMENT RENTAL REVENUE -COUNTY 25,653 13,008 25,620 26,016 1% 2% HRA SUBSIDY -TAX LEVY 30,000 25,002 50,004 60,000 100% 20% GARAGE RENTAL 35,482 18,038 35,100 35,100 1% 0% GUEST SUITE REVENUE 3,580 1,190 1,560 1,680 53% 8% APPLICATION FEE REVENUE 770 245 636 630 18% 1% TRANSFER FEE REVENUE 2,600 500 1,000 500 81% 50% INVESTMENT INCOME 68,561 2,595) 5,004 5,000 93% 0% LATE FEE 390 240 180 360 8% n!a UNREALIZED GAIN/LOSS 11,625) 10,740 100% 8% MISCELLANEOUS REVENUE 4,864 1,951 5,400 3,900 20°% 28% TOTAL INCOME 1,259,947 613,708 1,204,444 1,239,125 2% 3% OPERATING EXPENSES 43% WATER SOFTENING EXPENSE 1,873 862 2,184 2,184 PROPERTY ADMINISTRATION: 0% CONTRACT LABOR MANAGER SALARIES 47,734 25,427 51,132 52,669 10% 3% MAINTENANCE SALARIES 17,983 18,333 37,836 38,179 112% 1% MAINTENANCE ASST SALARIES 14,294 27,165 12,566 14,700 25,300 PAYROLL TAXES 8,271 4,638 12,458 10,902 32% 12% HEALTH INSURANCE 12,567 8,023 19,488 19,972 59% 2% WORK COMP INSURANCE 576 429 1,920 1,916 233°% 0% EMPLOYEE COSTS 1,040 520 1,040 1,086 4% 4°% DUES & SUBSCRIPTIONS 55 120 60 nIa 50% LICENSES, PERMITS 876 899 876 899 3% 3% MILEAGE REIMBURSEMENT 483 305 816 816 69% 0°% POSTAGEIOVERNIGHT DELIVERY 166 107 144 204 23% 42% MANAGEMENT FEES 48,000 25,200 50,400 50,400 5% 0% LEGAL & OTHER PROFESSIONAL FEES 4,472 596 3,204 3,264 27% 2% TELEPHONE EXPENSE 6,205 3,905 6,324 8,201 32% 30% EOUIP REPAIRSIMAINTILEASL 1,181 1,593 1,248 1,436 22% 15°% OFFICE SUPPLIES & EXPENSES 1,022 516 1,080 1,112 9% 3% BANK CHARGES 21 9 60 60 486% 0% PRINTING 50 50 60 60 20% 0% SEMI NARS[TRAINING 255 185 300 300 18% 0% TOTAL PRO PERTYADMINISTRATION 165,251 90,735 188,504 191,535 16% 2% RESIDENT SERVICE: RES] DF NTSERVICEEXPENSES $ 5,137 $ 1,916 $ 5,113 $ 5,460 6% 7% MARKETING & LEASING: ADVERTISING 1,945 5,735 4,800 4,800 147% 0% PROMOTIONAL EVENTS 700 nla 100°% TOTAL MARKETING & LEASING 1,945 5,735 5,500 4,800 1471/. 13% HOUSEKEEPING: CONTRACT LABOR 11,635 5,501 12,360 12,360 6% 0% CLEANING SUPPLIES 1,309 872 1,320 1,380 5% 5% TOTAL HOUSEKEEPING 12,944 6,373 13,680 13,740 6% 0% BUILDINGS & GROUNDS: CABLE TV EXPENSE 1,442 821 1,500 1,575 9% 5% UTILITILS-ELECTRIC 23,464 10,740 25,300 25,300 8% 0% UTILITIES -WATER & SEWER 12,761 5,881 12,380 13,000 2°% 5% UTILITIES -GAS 27,413 25,488 22,700 32,400 18% 43% WATER SOFTENING EXPENSE 1,873 862 2,184 2,184 17°% 0% CONTRACT LABOR n!a n!a DOORS, KEYS & WINDOWS 447 462 1,116 600 34% 46% FIRE SYSTEM SERVICE 2,019 1,639 3,852 S 3,480 72% 10% LAWN CAREISNOW REMOVAL 27,165 12,566 14,700 25,300 7°% 720% PEST CONTROL 1,717 519 5,672 S 680 60% 88% VICKSBURG CROSSING 2015 BUDGET-DRAFT Percentage Percentage 94 INDEPENDENT UNITS - rentable, 96 constructed 2013 2014 2014 2015 Difference Difference ACTUAL Jan-Jun BUDGET BUDGET Budget 15 Budget 15 TOTALS ACTUALS TOTALS TOTALS Actual 13 Bucigat 14 TRASH REMOVAL 11,065 3,885 3,600 6,120 45% 70% UNIT TURNOVER 44,273 15,747 33,156 37,710 15% 14% ELEVATOR REPAIRS & MAINT 5,995 2,542 6,408 6,564 9% 2% REPAIRS & MAINTENANCE 32,543 13,662 27,400 27,600 15% 1% BUILDING & GROUNDS SUPPLIES 7,816 3,657 9,000 8,400 7% 7% HVAC SUPPLIES & REPAIR 6,566 4,470 8,880 8,880 35% 0% MISC UNBUDGETED BUILDINGS & GROUNDS 9,996 10,000 nla 0% TOTAL BUILDINGS & GROUNDS 206,559 102,641 187,844 209,793 2% 12% OTHER OPERATING EXPENSES PROPERTY & LIABILITY INSURANCE 31,303 15,974 32,520 33,564 7°% 3% PILOT (payment in lieu of taxes) 54,984 27,492 55,968 57,029 4% 2% TOTAL OTHER OPERATING EXPENSES 86,287 43,466 88,488 90,593 5% 2% TOTAL OPERATING EXPENSES 478,123 25D,866 489,129 515,921 8% 5% NET OPERATING INCOME 1 (LOSS) 781,824 362,840 715,315 723,204 7% 1% OTHER EXPENSES: DEPRECIATION EXPENSE 367,667 184,336 366,676 339,324 8% 8% AMORTIZATION 2,494 1,247 2,496 2,496 0% 0% RESERVEIREPLACElCAP EXP 3,969 12,561 42,100 19,700 nla nla INTEREST EXPENSE 720,516 351,461 449,472 441,175 39% 2% CONTRIBUTIONS FROM PLYMOUTH TOWNE SQUARE n/a nla TOTAL OTHER EXPENSES: 1,094,646 549,605 862,744 802,695 27% 7% NET INCOME: 312,822) 186,765) 147,429) 79,491) 76% 46% PERCENT OF INCOME 25% 30% 12% 6% 74% 48% CASHFLOW ADJUSTMENTS: REPLACEIRESERVE TRANS OUT 25,000) 60,000) 60,000) 140% 0% CAPITAL IMPROVE FUNDED BY REPLACE RES 3,969 12,561 42,100 19,700 396% nla DEPRECIATION 367,667 184,336 368,676 339,324 8% 8% AMORTIZATION 2,494 1,247 2,496 2,496 0% 0% PRINCIPAL ON DEBT 185,000) 205,000) 205,000) 220,000) 19% 7% BOND SALE CAPITALIZED INTEREST nla nla nla n1a NETCASHFLOW: 148,692) 193,621) 843 2,029 101% 141% ro H (7 m r W J m c t2a N 0 m r a m m 'Dm CD m m m N w 0 Io O M N r O om onvui m CA vi N m N W O w O M N T O con om N N v N r m O fWD O m V lm y r m N n N T m N W O t(1 o m N r 0 T o N 'V I V M m o m v NNircb N r a a mrz Z y N z CO Z V+ m 0 O T U y w w ww U~w q LL, ZZ. u LL j Ir 7 7 w I O° w m J w w DO Z z J W w Z U u I>i! 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UZyar0L r Wj Q U j W Q U j W w Q O j 0 Z F 1= FZ F: UJ Z Z W Z Z Z Z W Z Z Z Z Z W Z Z Z O O» 7 7 J J J J J J_ O . 0 0 0 0 0 0 D000 0 0 0 O 0 0 O O O CoOOO m 0 C, E,[ W WWwwwwwwwwwwww w w W uSmmmmmmmmmtpmmmmmwa 0Lt CiJJJwLLJJJ LLJ LLJJ wF- F- F F- F- El L3 U C) E)C u -M fA m V N Z Z Z Z Z Z w x K w p Q N N N N N N l w m.-- wT1- o m1nWmm O O N f') N 1Vl Yi ll Nm to oln lnv m n N m n IooNc9n 1191n In 1+3 UF- , a U lil u z z a r Z Z W zZ J _ E 0 0 0OOOO C 0 0 0 0 [ u w w w W u m m m m p r ry PLYMOUTH HOUSING REDEVELOPMENT AUTHORITY HRA RESOLUTION NO. 2014-07 AUTHORIZING THE 2015 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 HRA's contract property management company has provided a proposed 2015 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 2015. 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 2015 has a total operating expense amount of $515,921 and other expenses of $802,695 for a total budget of $1,318,616. 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 23" d day of October, 2014.