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HomeMy WebLinkAboutHousing & Redevelopment Authority Packet 01-22-2015MEETING AGENDA PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY THURSDAY, JANUARY 22, 2015 - 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 October 23, 2014. B. Plymouth Towne Square. Accept Monthly Housing Reports. C. Vicksburg Crossing. Accept Monthly Housing/Marketing Reports. D. HRA Program Updates. 3. NEW BUSINESS A. Sand Companies. Potential mixed income development. B. Consider Home Energy Squad Enhanced Audit Program. C. TIF 1-1. Approve Paying Off Bonds and Pledge Agreement with the City for an Inter -fund Loan. D. Plymouth Towne Square. Amend 2015 Operating Budget. 4. ADJOURNMENT DRAFT MINUTES PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY OCTOBER 23, 2014 PRESENT: Chairman Jeff Kulaszewicz, Commissioners Katie Black, Jim Willis, and Toni Jelinek ABSENT: None STAFF PRESENT: HRA Manager Jim Barnes, HRA Executive Director Steve Juetten, and Office Support Representative Tina Beckfeld OTHER: Grace Management Representative Jody Boedigheimer 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 IIRA Meeting Minutes for September 25, 2014. B. Plymouth Towne Square. Accept Monthly Housing Reports C. Vicksburg Crossing, Accept Monthly IIousing/Marketing Reports MOTION by Commissioner Willis, seconded by Commissioner Jelinek to approve the consent agenda. Vote. 4 Ayes. MOTION passed unanimously. 3. NEW BUSINESS A. Senior Buildings — 2014 Residential Satisfaction Survey Results Grace Management Representative Boedigheimer gave a recap of the survey results for Plymouth Town Square and Vicksburg Crossing. She stated concerns voiced about the condition of the carpet at Vicksburg Crossing are being addressed in budget. The carpet is 9 years old and the lobby area in question sees the majority of traffic. Chairman Kulaszewicz asked how often the carpet is cleaned. Grace Management Representative Boedigheimer stated the carpet is cleaned annually and spot cleaned monthly or as needed. LIRA Manager Barnes added the condition of the corridor carpet is good; the lobby area is the main concern. Commissioner Jelinek asked if the carpet is being replaced with carpet or another material. Draft Plymouth Housing and Redevelopment Authority October 23, 2014 Page 2 Grace Management Representative Boedigheimer replied they are leaning toward replacing with carpet for safety and noise reduction. Chace Management Representative Boedigheimer stated she is please with the overall results of the survey especially with the results from Vicksburg Crossing as the results were better than last year. Katie Black asked about the exterior lighting concerns at Plymouth Towne Square, HRA Manager Barnes stated the reduced lighting in the parking lot is a result of overgrown trees that will be trimmed back next spring, He also indicated that staff is addressing the sign and flagpole lighting. Grace Management Representative Boedigheimer commented that some light fixtures in the lobby and stairwells are very high and we are looking at changing the fixtures to LED for longevity and energy efficiency. B. Plymouth Towne Square. Review and approve 2015 Budget. HRA Manager Barnes gave an overview of the Plymouth Towne Square budget. Chairman Kulaszewicz asked if the $84,000 replacement reserve money is being adding to zero. HRA Manager Barnes stated it will be added to the Replacement Reserve account that currently has a balance of approximately $868,000. Commissioner Jelinek asked why we are holding such a large amount of money in the reserve account. HRA Manager Barnes explained that funds are set aside for future major expenses to maintain the buildings. Commissioner Willis added the replacement reserve amount is based on a schedule of anticipated replacement items amortized over a certain number of years. Commissioner Willis asked staff to bring the reserve schedule to the commission for clarification. Commissioner Willis asked if the 2% rent increase is only on the low income rent. HRA Manager Barnes replied the 2% increase is across the board with the exception of market rent units. Draft Plymouth Housing and Redevelopment Authority October 23, 2014 Page 3 Commissioner Willis asked when the 2% increase will go into effect and if the commission will have to approve the increase. HRA Manager Baines answered the increase will go into effect January 1, 2015. Approval of the budget tonight will allow the 2%increase to go into effect January 1, 2015. Chairman Kulaszewicz asked if staff feels the minimum rents for the affordable units are reasonable compared to surrounding communities. HRA Manager Barnes stated staff reviews other communities for comparisons and he believes we are in line with what the market is charging. Chairman Kulaszewicz asked when the debt service will be done. HRA Manager Barnes replied 2023. Commissioner Willis asked what the rate is for the affordable units. Grace Management Representative Boedigheimer replied on average rent is $570/month and the subsidized portion is equal to that. Chairman Kulaszewicz asked Grace Management Representative Boedigheimer about their management fees increasing and the services Grace Management provides. Grace Management Representative Boedigheimer stated the rate increases alternate yearly between Plymouth Towne Square and Vicksburg Crossing. Services provideD include, but not limited to are, preparation of financials, pay bills, employment of four staff members, employee payroll, site visits, organizing activities, marketing for Vicksburg Crossing, and general oversight of both buildings. Commissioner Jelinek asked if the HRA has a contract with Grace Management and the terms. Grace Management Representative Boedigheimer replied yes, the HRA has an annual contract with Grace Management. Commissioner Jelinek asked if Grace Management is the only management company the IIRA has used. HRA Manager Bares replied originally Walker Management was used. In January 2002 the switch was made to Grace Management. MOTION by Commissioner Willis, seconded by Commissioner Black to adopt the attached resolution approving the 2015 Plymouth Towne Square Operating Budget with the 2% proposed rent increase. Vote. 4 Ayes. MOTION passed unanimously. Draft Plymouth Housing and Redevelopment Authority October 23, 2014 Page 4 C. Vicksburg Crossing. Review and approve 2015 Budget. HRA Manager Barnes gave an overview of the Vicksburg Crossing budget. Chairman Kulaszewicz asked why the rate increase is not a percentage increase as with Plymouth Towne Square verses a set amount. HRA Manager Barnes replied Vicksburg Crossing is more sensitive to the market. He also stated that Vicksburg Crossing and Plymouth Towne Square are very different in how rents are determined. HRA Executive Director Juetten stated there should not be a concern comparing Vicksburg Crossing to Plymouth Towne Square because they are so different. Chairman Kulaszewicz asked if we will spend the remaining balance of last years reserve budget. Grace Management Representative Boedigheimer stated the planned projects for the year have been done, but some of the funds may have been coded as operating expenses. She will Iook into it. HRA Manager Barnes asked the commission to keep in mind budgets fluctuate year-to-year. Commissioner Jelinek asked what happens to the remaining unspent budget amount. HRA Manager Barnes stated the funds will be moved to the reserve account. Chairman Kulaszewicz asked if there is a maintenance schedule to change the filters on the Magic Pac HVAC units and cleaning of exterior venting for those units. ITRA Manager Barnes stated the filters are replaced quarterly. The biggest problem we are facing now are wasp nests blocking the venting tubes. There have been one or two instances where the CO detectors have gone off due to blockage of the vents. The first priority is the safety of the residents. Currently, a prototype screens is being built with smaller holes that will be installed and monitored through the next season for effectiveness. Staff is also investigating the inspection and cleaning of the vents from the exterior along with dryer vent cleaning and window cleaning to reduce costs. Chairman Kulaszewicz asked what was determined to be the problem with the catch basins. HRA Manager Barnes replied the concrete rings have not proven to last over time. The replacements rings will be made of plastic. Draft Plymouth Housing and Redevelopment Authority October 23, 2014 Page 5 Chairman Kulaszewicz asked Grace Management Representative Boedigheimer about marketing of the buildings. Grace Management Representative Boedigheimer replied Vicksburg Crossing has its own website and advertising has been reduced to quarterly ads as word of mouth seems to be our best marketing tool at this point. MOTION by Commissioner Willis, seconded by Commissioner 7elinek to adopt the attached resolution approving the 2015 Vicksburg Crossing Operating Budget and the proposed rent increase. Vote. 4 Ayes. MOTION passed unanimously. 5. ADJOURNMENT MOTION by Chairman Kulaszewicz, seconded by Commissioner Jelinek, to adjourn the meeting at 7;55 p.m. r a•B.1 PLYMOUTH TOWNE SQUARE MEMORANDUM To: Jim Barnes From: Jeff Lelivelt, Managing Director, Plymouth Towne Square Date: November 17, 2014 Re: PTS Monthly Report for October 2014 November Newsletter and Calendar attached Occupancy/Marketing Current Occupancy — 97 Units (98%) Current Wait List Status One Bedroom -- 59 applicants; closed Two Bedroom — 33 applicants Administrative/Building Operations The outside entrance doors were re -keyed on 1018 completing the FOB installation process. On 10113 it was verified that proper police and fire keys were in the outside lock box. The sprinkler system was also blown out in preparation for winter. On 10115 First Impressions installed the first phase of the new counters and cupboards in the Craft Room. The annual fire extinguisher inspections took place on 10129. Resident Services Candidate Audrey Britton did a door to door on 1017 and candidate Marge Beard attended resident coffee on the 9th. The Birthday Bash and resident meeting was held on the 20th with 66 attendees. The annual Halloween Party was held on 10129. 55 residents were in attendance. 15500 37th Avenue North • Plymouth, MN 55446-3250 Phone: (763) 550-9525 • Fax: (763) 551-0144 0-ncd by Plyniauth Housing and Redevelopment Aurhorky Balance Street PLYMOUTH -roWNE SQUARE A5 Of October 31, 2014 ASSETS CURRENT ASSETS M I PETTY CASH M I OPERATING ACCOUNT M I SEC DEPOSIT CASH ACCOUNT INVESTMENTS -WORKING CAPITAL FUND INVESTMENTS - NEW DEBT SERVICE ACCOUNTS RFC -TENANTS INTEREST RECEIVABLE 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 COMPUTERS/OFFICE 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 - SERIES 2011A BOND PREMIUM TOTAL LIABILITIES EQUITY RETAINED EARNINGS RSRVD FOR DS RETAINED EARNINGS TOTAL EQUITY CURRENT YEAR INCOME!(LOSS) TOTAL LIABILITIES & EQUITY Ending Balance Total 500 215,552 56,375 861,726 47,732) 2,164) 1,250 18,651 128 4,301 459,247 111,390 5,767,619 301,779 379,211 8,698 13,060 3,539,329) 15,851 3,255 1,454 7,370 26,155 806 54,968 2,670,000 66,672 108,648 1,560,342 1,128,567 3,501,672 4,630,239 54,890 2,791,860 2,046,750 1,668,990 114,499 4,630,239 Profit and Loss Variance PLYMOUTH TOWNE SQUARE Through October 31, 2014 MTD Actual Budget Var. YTD Actual Budget Var. Year Budget INCOME APARTMENT RENTAL REVENUE 51,327 52,562 1,236) 532,767 525,820 7,147 630,744 HRA INDIVIDUAL 17,917 17,917 0 179,170 179,170 D 215,004 GARAGE RENT 2,700 2,8BD 180) 28,669 28,BOO 131) 34,56D GUEST ROOM REVENUE 55 193 138) 2,605 1,930 875 2,318 LAUNDRY REVENUE 766 855 90) 8,424 8,550 126) 10,26D APPLICATION FEE REVENUE 0 53 53) 275 530 255) B35 TRANSFER FEE REVENUE 500 D 50D 50D 500 0 50D INVESTMENT INCOME 1,7D3 1,25D 453 27,366 12,500 14,886 15,000 MISCELLANEOUS REVENUE 353 185 16B 1,128 1,850 724) 2,220 T07AL INCOME 75,320 75,895 575) 781,102 759,450 21,652 911,240 EXPENSES ADMINISTRATION MANAGER SALARIESIWAGES 3,982 3,877 05) 38,651 36,770 81) 46,524 PAYROLLTAXES 512 1,069 557 7,459 10,690 3,231 12,826 HEALTH INSURANCE 1,137 446 691) 12,244 4,460 7,784) 5,352 WORKERS COMP INSURANCE 65 178 113 717 1,780 1,063 2,136 MAINTENANCE SALARIESIWAGES 3,754 3,761 7 35,908 37,010 1,702 45,132 EMPLOYEE COSTS 80 80 0 HBO 880 0 1,040 SEMINARIFRAINING 0 25 25 370 250 120) 300 BANK FEES a9 5 84) 169 50 119) 60 DUES, SUBS & MEMBERSHIPS D 0 0 100 0 IOD) 0 LICENSE & PERMITS 694 0 694) 917 894 23) 894 MILEAGE REIMBURSEMENT 7B 09 11 793 690 97 1,008 POSTAGE/OVERNIGHT EXPRESS 0 6 8 49 80 31 96 PRINTING 176 10 166) 176 100 76) 120 MANAGEMENT FEES 4,400 4,400 0 44,000 44,000 0 52,900 PROFESSIONAL FEES 0 350 350 1,159 3,50D 2,341 4,200 TELEPHONE EXPENSE 500 500 0 4,988 5,00D 12 6,000 EQUIPMENT LEASEIREPAIR 295 130 165) 3,435 1,30D 2,135) 1,560 OFFICE SUPPLIES 122 95 27) 1,057 950 107) 1,140 TOTAL ADMIN EXPENSES 15,866 15,D23 843) 153,272 151,204 2,068) 181,250 RESIDENT SERVICES RESIDENT PROGRAMIACTIVITIE9 652 300 352) 2,549 2,80D 251 5,200 TOTAL RES SERV EXPENSES 652 300 352) 2,549 2,800 251 5,200 MARKETING PROMOTIONALIPARTIES 0 15 15 0 159 150 180 TOTAL MARKETING EXPENSES 16 15 0 150 150 180 HOUSEKEEPING CONTRACTLABOR 1,439 1,521 a3 14,80D 15,210 41D 18,252 CLEANING SUPPLIES 36 115 79 823 1,150 327 1,38D TOTAL HOUSEKEEPING EXPENSES 1,474 1,636 162 15,623 16,360 737 19,632 Profit and Loss Variance PLYMOUTH TOWNE SQUARE Through October 31, 2014 BUILDING & GROUNDS CABLE TV EXPENSE UTILITIES - ELECTRICITY UTILITIES - GAS UTILITIES - WATERISEWER WATER SOFTENING SERVICE DOORS. KEYS & WINDOWS FIRE SYSTEM SERVICE LAWN SERVICEILANDSCAPISNOW RMVL PEST CONTROL TRASH REMOVAL UNIT TURNOVER REPAIRS ELEVATOR -REPAIRS & MAINTENANCE REPAIRS & MAINTENANCE BUILDING & GROUNDS SUPPLIES HVAC - REPAIRS & MAINTENANCE MISGELLANEOUS B & G EXPENSES TOTAL BUILDING & GROUNDS OTHEROPERATING 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 RESERVEIREPLACE CAPITAL EXPENSE INTEREST EXPENSE TOTAL DEPREC, INTEREST & OTHER NET INCOME I (LOSS) MTD Actual Budget Var. YTD Actual Budget Var. Year Budget 55 60 5 554 600 46 72D 2,194 2,100 94) 23,302 23,20D 102) 27,300 1,411 2,300 8e9 21,999 16,700 5,299) 22,000 942 690 252) 7,518 8,160 642 9,546 351 345 6) 3,245 3,450 205 4,140 411 350 61) 5,173 3,506 1,673) 4,200 231 415 104 4,008 4,560 142 4,980 1,271 1,800 329 22,861 16,000 8,661) 19,200 0 465 465 509 4,650 4,141 5,580 384 300 84) 3,449 3,000 449) 3,600 16,835 2,867 14,1(38) 32,448 28,870 5,778) 32,004 538 60D 62 5,223 6,000 777 7,200 100 1,500 1,400 30,308 32,500 2,192 35,500 1,546 1,600 54 9,937 16,000 6,083 19,200 383 935 552 3,541 9,350 5,809 11,220 0 833 833 0 6,330 6,330 9,996 26,651 16,760 9,891) 173,875 182,260 8,365 216,380 2,621 2,638 17 25,882 26,380 898 31,856 2,895 2,587 28) 26,155 25,870 285) 31,044 5,236 5,225 11) 51,836 52,250 414 62,700 49,880 38,959 10,921) 397,155 405,024 7,669 485,342 25,440 36,936 11,496) 303,946 354,426 29,520 425,898 16,450 16,833 383 164,497 168,330 3,833 201,996 527 527 0 5,206 5,270 5 0,324 0 0 0 25,609 32,000 6,391 32,000 7,370 7,37D 0 74,076 73,700 376) 88,440 24,346 24,730 384 289,448 279,300 9,852 328,760 1,094 12,206 11,112) 114,499 75,126 39,373 97,138 d ri 4 0» y» N p p N O Q W g q P q 1 M T 9 m W y A N W pl p M 1 1 C) N N mO d d V Q w o a 0 0 0 0 O 0 0 a O O O O O a 0 a 0 a d d O d d d d d 0 0 O O d 0 0 V N d d M a v C r W O O p d m a o z r It M1 A y fM1 M TNN tO QLU p M ly A pp r Q W a uP V N m o 0 W O O » h N N e N lLO n O p md a Mwyo0 c en y cn a Q M1 J` y y 4 q M OI ID N N M1 y q 9 M 4 4 0 4 O m O b m 1 r V V aP N o y O y W h, w b p O N m a a Q 1- v d d oo n o D o d d m 1p m N y O d M d C7 Q m M1 y O r' O O P O O N A y d O O g 4 0 T 0 4 4 OI N O N Q a Q p o p C UQ N N » h m O (V a0 O D M M M1 W N 4 4 M1 ry y y M Q W O O m a 0 vi d m EL a ryryu) um m ry m g q ry q N m» ry pM d T g p n 0 0 0 0 ry M m lY 0v1l ui p r A a m E Q T l M g M 0 0 iD O N W f] M y y M V N y M g 0 O O A T O g O M O q N M1 N M O 00 a an d O O Ip M ip V N y O d CI W h W P W [+( A h M1 V O d d Oq Q' N Q p m A N ry a q n n o o y o in o ry o m r o o m O o m o 0 0 0 0» m M M rvv a A r a W nz w N w w l z t7 w q y W y F Z W w 121111 W Z 4 a h 1211 Q Z U X Z 7 76 w ] W w E r W W w ¢ LLI a 7 j w W O K ow Z aJ N o g F W W Z lila W W K W Y w J rc Z11 w fC v 1n z w "] z a w w y m s LL JLLJ gw N W z V C7 w o a w 7 z 2 Z W O W O g¢ W V p v0 W `2 y S Z !1 a K K Y) z m D 7 d w O 0 14 Z ul m }' u3 w u tgat y a w w z w a W a w a g m O f d W K 4 Iwi `i g .1 1w11 w z w K W N w W Z W N O W 0 J F Z w ? 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MEN! i Daddy's Little Girl A daughter may outgrow your lap But she'll never outgrow your hears-. Sticks and Stones may break my bones but words will never hurt me... . Unfortunate/y, that is not true. Words hurt, scar and leave wounds all the way down to the sou/. So please, be careful how you use your words. www.ZiveYes, com Garage Sweep, Wednesday, November 5 The garage will be cleaned of summer sand, dirt and debris on Wednesday, November 12. Cars must be out of the garage by 7:30 AM. If you are an early bird, this is no problem. If you are not, it will be best to move it the night before. Breakfast With Chef Ray, Saturday, November 15, 8:30-10:00 AM Our own top chef, Ray Milford, will host his monthly breakfast on Saturday, November 15. Tickets will be sold Monday and Tuesday of the preceding week. Cost: $3.50 in advance; $4.00 on Saturday. Watch for news of his menu on the bulletin board and elevators. Art Room Open House, 'Tuesday, November 18 To celebrate the completion of the art room (the former hair salon on the second floor), an Open House will be held on Tuesday, November 18. At present, the cupboards are installed and by the time of the Open House, the walls will be repainted There will be activities as well as coffee and cookies. Watch for more information on this event. Resident Meeting and Birthday Bash, Thursday, November 20,1.:00 PM Our birthday and resident meeting will be held on Thursday, November 20 at 1:00 PM. Jeff will give us up-to-date PTS news along with a question and answer session. Stay up to speed on what is happening in and around our cominunity. Coffee and cake. Thanksgiving Celebration, Tuesday, November 25, 5:00 PM We will celebrate Thanksgiving here at PTS on Tuesday, November 25, at 5:00 PM with a potluck. PTS will supply a turkey and we will fill up the food tables with other Thanksgiving delights. Last year this turned out to be a huge event, and we had a wide variety of foods. This is an opportunity for all of us, no matter our nationalities, to get together to be thankful for all we have in our lives and celebrate each other. Look for more information and sign-up information closer to the 25th. n yrs zoo A e,.,rsary teacher, teacher Teacher: Why are you late? Bobby: Class started before I got here. Teacher: John, why are you doing your math multiplication on the floor? John: You told me to do it without using tables. Teacher: Chuck, how do you spell 'crocodile .P Chuck: krokadial. Teacher: No, that's wrong. Chuck: It may be wrong, but you asked me how 'T" spell it. Teacher: Donald, what is the chemical formula for water? Donald: HIJKLMNO Teacher: What are you talking about? Donald: Yesterday you said it was H to O. Teacher: Clyde, your essay on 'idly Dog" is exactly the same as your brother's_... Did you copy his? Clyde: No ma 2m, it's the same dog. Teacher: George Washington not only chopped down the cherry tree, but also admitted it. Now Louis, do you know why his father didn't punish him? Louis: Because George still had the ax in his hand. I $ee SolsAea4e;s NOVEMBER BIRTHDAYS Happy Birthday to the following residents who are celebrating birthdays this month! SCOTT H U LTMAN 3 JEAN KRAM E R 4 KENING XIANG 21 E, VIP n 00 Q U i 00 U Q a a M Q 00 M00rl00N00N00 bD 3 fib Pq bn DOP N A al A4 P4 d Z> G4 P4 P4 o tic a: 0; N am — N rn F U 4 4 En U3 w U U U U 5 KN r -•i Ln V ti lir r --I rn U +•'-J V A tea Q''? U jN C j q'' CC C..) jj o a m Q Q as a a o 00 o oo a o a o C!) a cn et 00 c\rn c 2 00 0, ON (-4 ofr -q oo rnrn cv N ao a of tai O i."' /may_. p y• U b U OEll bA U O 2 U O H cls al E d iz4 cd ad H d r 0.1 00 M m d d O O o O O M co of n n AY ? a.&a PLYMOUTH TOWNE SQUARE MEMORANDUM To: Jim Barnes From: Jeff Lelivelt, Managing Director, Plymouth Towne Square Date: December 17, 2014 Re: PTS Monthly Report for November 2014 December Newsletter and Calendar attached OccupancylMarketinq Current Occupancy — 98 Units (99%) Current Wait List Status: One Bedroom — 59 applicants; closed Two Bedroom —19 applicants (A number of applicants were removed from the list either by request or by the third turn down of an available apartment.) Administrative/Building Operations The second stage of the Craft Room counter installation began on 11-4. New chairs were delivered with tables scheduled for delivery in early December. We received a free garage sweep on 11-5. This was the vendor's way of making amends for poor job performance in the spring. On 11-11, exterior lighting, including the PTS monument sign was repaired. On 11-19 the elevators were inspected. Phone lines for the upgraded fire monitoring system were installed. Resident Services Breakfast with Chef Ray was held on 11/15 with 37 in attendance. The resident meeting and birthday bash was held on 11120 with 49 in attendance. 74 residents participated in the 2nd annual Turkey Day celebration held on 11125. 15500 37th Avenue North • Plymouth, MN 55446-3250 Phone: (763) 550-9525 • Fax: (763) 551-0144 Owned by Plyntauth Housing and Redevelopment Authociry Balance Sheet PLYMOUTH TOWNE SQUARE As Of November 30, 20U ASSETS CURRENT ASSETS 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 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 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 TOTAL CURRENT LIABILITIES LONG-TERM LIABILITIES SECURITY DEPOSITS BONDS PAYABLE -SERIES 2011A BOND PREMIUM TOTAL LIABILITIES EQUITY RETAINED EARNINGS RSRVO FOR DS RETAINED EARNINGS TOTAL EQUITY CURRENT YEAR INCOME!(LOSS) TOTAL LIABILITIES & EQUITY Ending Balance Total 500 236,134 55,749 881,726 29, 815) 789) 2,500 16,030 63 5,539 459,247 111,390 5,767,619 301,779 379,211 8,696 13,060 3,555,779) 20,460 3,686 1,454 14,740 28,770 55,738 2,670,000 67,398 108,648 1,560,342 1,167,638 3,485,222 4,652,860 69,109 2,793,136 2,862,245 1,668,990 121,625 4,652,860 Profit and Loss Variance PLYMOUTH TOWNE SQUARE Through November 30, 2414 MTD Actual Budget Var. YTD Actual Budget Var. Year Budget INCOME APARTMENT RENTAL REVENUE 51,831 52,562 931) 564,398 578,162 6,216 630,744 HRA INDIVIDUAL 17,917 17,917 0 197,007 197,007 0 215,004 GARAGE RENT 2,745 2,680 135) 31,414 31,680 266) 34,560 GUEST ROOM REVENUE 220 193 27 3,025 2,123 902 2,316 LAUNDRY REVENUE 701 855 154) 9,125 9,405 29D) 10,260 APPLICATION FEE REVENUE 70 53 17 345 503 238) 838 TRANSFER FEE REVENUE 0 0 0 500 500 0 500 INVESTMENT INCOME 1,262 1,250 12 28,627 13,750 14,077 15,000 MISCELLANEOUS REVENUE 30 185 155) 1,156 2,035 879) 2,220 TOTAL INCOME 74,576 75,895 1,319) 855,677 535,345 20,332 911,240 EXPENSES ADMINISTRATION MANAGER SALARIESANAGES 3,934 3,677 43 42,085 42,647 3B) 46,524 PAYROLL TAXES 513 1,069 555 7,972 11,759 3,787 12,829 HEALTH INSURANCE 1,137 446 691) 13,382 4,906 8,476) 5,352 WORKERS COMP INSURANCE 65 178 113 782 1,958 1,176 2,136 MAINTENANCE SALARIESIWAGES 3,566 3,761 195 39,473 41,371 1,098 45,132 EMPLOYEE COSTS 80 80 0 960 960 0 1,040 SEMINAR/TRAINING 0 25 25 370 275 95) 300 BANK FEES 59) 5 64 110 55 55) 60 DUES, SUBS & MEMBERSHIPS 0 0 0 100 0 100) 0 LICENSE & PERMITS 40 0 40) 957 894 63) 894 MILEAGE REIMBURSEMENT 22 69 57 015 979 164 1,068 POSTAGEIOVERNIGHT EXPRESS 0 a 8 49 88 39 96 PRINTING 0 10 10 176 110 60) 120 MANAGEMENT FEES 4,400 4,400 0 48,400 48,400 0 52,800 PROFESSIONAL FEES 51 350 299 1,210 3,850 2,640 4,200 TELEPHONE EXPENSE 496 500 4 5,494 5,500 16 6,000 EQUIPMENT LEASEIRFPAIR 0 130 130 3,435 1,430 2,005) 1,560 OFFICE SUPPLIES D 95 95 1,057 1,045 12) 1,140 TOTAL ADMIN EXPENSES 14,146 15,023 877 167,417 166,227 1,19D) 161,250 RESIDENT SERVICES RESIDENT PROGRAMIACTIVITIFS 27 200 173 2,576 3,00 424 5,200 TOTAL RES SERV EXPENSES 27 208 173 2,576 3,000 424 5,200 MARKETING PROMOTIONALIPARTIES 0 15 15 0 165 185 180 TOTAL MARKETING EXPENSES 0 i5 15 0 165 165 180 HOUSEKEEPING CONTRACT LABOR 1,394 1,521 128 16,194 16,731 538 18,252 GLEANING SUPPLIES 414 115 299) 1,237 1,265 28 1,390 TOTAL HOUSEKEEPING EXPENSES 1,808 1,636 172) 17,431 17,996 565 19,632 Profit and Loss Variance hrotigh November 30, 2014 MTD Actual Budget Var. YTD Actual Budge( Var. Year Budget BUILDING & GROUNDS CABLE TV EXPENSE 55 60 5 610 680 50 720 UTILITIES -ELECTRICITY 2,206 2,100 106) 25,508 25,3CD 208) 27,300 UTILITIES - GAS 2,492 2,500 8 24,491 19,200 5,291) 22,000 UTILITIES -WATERISEWER 585 690 105 6,103 8,850 747 9,540 WATER SOFTENING SERVICE 326 345 19 3,572 3,795 223 4,140 DOORS, KEYS & WINDOWS 4 350 346 5,178 3,850 1,328) 4,200 FIRE SYSTEM SERVICE 175} 415 590 3,833 4,565 732 4,960 LAWN SERVIGEILANDSCAP/SNOW Ri IVL 3,42D 1,600 1,82D) 28,001 17,600 8,481) 19,200 PEST CONTROL D 465 465 509 5,115 4,606 5,58D TRASH REMOVAL 384 300 84) 3,634 3,300 534) 3,600 UNIT TURNOVER REPAIRS 6,386 2.667 3,719) 30,832 29,337 9,495) 32,004 ELEVATOR -REPAIRS & MAINTENANCE 538 600 fit 5,761 6,600 839 7,200 REPAIRS & MAINTENANCE 1,027 1,500 473 31,335 34,000 2,665 35,500 BUILDING & GROUNDS SUPPLIES 885 1,600 715 10,822 17,600 6,778 19,200 HVAC - REPAIRS& MAINTENANCE 1,116 935 181) 4,856 10,285 5,627 11,220 MISCELLANEOUS D & G EXPENSES D 633 833 0 9,103 9,163 9,996 TOTAL BUILDING & GROUNDS 19,252 16,96D 2,292) 193,127 199,220 6,093 216,380 OTHER OPERATING EXPENSES PROPERTY & LIABILITY INSURANCE 2,621 2,638 17 28,302 29,018 716 31,656 PAYMENT IN LIEU OF PROPERTY TAX 2,615 2,587 28) 28,770 28,457 313) 31,044 TOTAL OTHER OPERATING EXPENSES 5,236 5,225 11) 57,072 57,475 403 62,700 TOTAL OPERATING EXPENSES 40,468 39,059 1,409) 437,623 444,083 6,460 485,342 NET OPERATING INCOME ! ( LOSS) 34,106 36,836 2,728) 418,054 391,262 26,792 425,698 DEPREC, INTEREST & OTHER EXPENSE DEPRECIATION EXPENSE 16,450 13,833 383 180,947 185,153 4,218 201,996 AMORTIZATION EXPENSE 527 527 0 5,792 5,797 5 6.324 RE8ERV6REPLACE CAPITAL EXPENSE 2,036 0 2,636) 28,244 32,OOD 3,750 32.000 INTEREST EXPENSE 7,370 7,370 0 81,446 81,070 376) 68,440 TOTAL DEPREC, INTEREST & OTHER 26,982 24,730 2,252) 296,430 304,030 7,600 328,760 NET INCOME I (LOSS) 7,126 12,106 4,980) 121,625 87,232 34,393 97,138 fvf^+ v+ O 03 a LU t1 Le- cr. D cl 4 U; r- CT L Q) G Ltl N CI O V O_ M N N O! M n< W M W 00 V V O N N LU 1p a n .p O a md LW N a 0 0 o g o 0 0 o q P g o O q q O 0 o.. P. o 0 0 0 0 0. P O O P O C a 0 O A a o z WW ry C M d N a va 0 a a N 11 m a Q w o m a i cn W n 1O m a0 n v a w cq+ r o T M ry r N M vmi M .- M V r O W 0 11 0. 3l W r C W0. 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N C1 a a V N a 0 0 N 0 t0 Oi e0 M1 N N P O M1 O O b W W O EL C4N M ry N .-- N M o N N S I W n ry W V n ry m O b NN Pv M1 N/ Q p LU ryQminI`I ° o 0 o NN N 0 a m 1 w r m M m Y n M y r W O ul DOW M N p N Y Y N W N N N a m r yN N a Liz 0 j ww w w 3 1z z W Z E Hua ww " ~ o w( Z Z, z ND rAW J K W ~ j a q 7 w a a u r W LLw z a z o Q~q yU): 4 w LL, W w w¢ w U w U E z w Ozwooa¢ aE a Kwa X O w w- zInuo¢ zN¢ -z Wg x¢Yomi h F¢m,° w z z ab N Z o yd v7 a a W Q Q F N U JO p j W Q ¢ Q J S z W W X d J ti ca w c ' w S o a 5 Kw z r F D o w w w S4i w m ? N 0 h 0 Y V) W Z W K O ° l7 W m c7 F OU J O r Y O W Q W a 2 4 OJWWWN ' W ~ z m ~ o¢ O KLL, W W05 O U W> K o m w O z Si o 44 N W a n — J d F W m S - nUa? o x 0ddF" O 4 fO fW w a w< w Z F- w ¢ 1- w F- z v z Children are not a distraction from more importan t work.... They are the most importan t work. c. s, lewis RESIDENT MEETING RECAP Discussed the 5 TBN channels that are no longer appearing on the antenna feed. Informed the residents that PTS has no control over what channels are broadcasted over the air. Discussed how the thermostats in the apartments work. If set at 72 degrees, the heat will bring the room up to that temperature. It then turns off and does not turn back on until the temperature drops to 67 (5 degrees). It then turns back on and brings the temperature back up to 72. So if 72 is your target temp, set the thermostat at 75 which will keep the temp between 70 and 75. Discussed the outside lights. All are currently operational but will need some work in spring when the ground thaws. Second floor appliance cleaning and smoke detector replacements will begin the week of 11/24 and finish around the first week of December. First floor will follow. New residents were announced. Current events: 11/25 —Thanksgiving Celebration; 5pm. 12/9 — New Song Kids Choir concert; bpm. 12/17 — Holiday Party; 5pm. Tickets go on sale DECEMBER IST THROUGH DECEMBER 10TH IN THE OFFICE. f HELLO, EMPLOYMENT AGENCY? THERE"S WEN A MISTAKE I ASS FOR 100 ELVES! i ; To UBRX r-. A 44 FWPT19Gi, Do NOT IAT W COCJ ItEs W Mr LUT FOR IN SIN J v3 v dsz r III NINE 1R E(jI Stu's vievve, Honey, our lawyer wishes us, but in no way guarantees, a Merry Christmas. fia dy t+iasb w 9n i ow IMepeoplecallhim--- Santa Claus, some call hi Kris Kringle, some call him Saint Nicholas, Obviously, a victim of identity theft!" I read it in the want ads-.., actual ads placed in newspapers) LOST MIND Last seen before wife and kids. Any info, please call. FREE PUPPIES Mother is a Kennel Club registered German Shepherd Father is a SUPER DOG, able to leap tall fences in a single bound JOINING NUDIST COLONY Must sell washer/dryer. 100 or best offer WEDDING DRESS FOR SALE Worn once by mistake. Call Stephanie FOR SALE BY OWNER Complete set of Encyclopedia Britannica. No longer needed. Got married last weekend - wife knows everything. Headliners Something Went Wrong in Jet Crash, Expert Says Iraqi Head Seeks Arms Shot Off Woman's Leg Helps Nicklaus to 66 Killer Sentenced to Die for Second Time in 10 years If Teachers' Strike Isn't Ended Quickly, It May Last a While New Study of Obesity Looks for Larger Test Group Two Soviet Ships Collide, One Dies Red Tape Holds Up New Bridge Man Struck by Lightning Faces Battery Charge It's so cold outside I just save a teenager with his pants Mille all the way up! random stuff random stuff Before I had kids, I didn't even know it was possible to destroy an entire house with a granola bar. woVrzmempm DECEMBER BIRTHDAYS Happy Birthday to the following residents who are celebrating birthdays this month! DALE DAVI ES 1 BETTY POMERLEAU 3 TSILYA KATSNELSON 4 RAISA KOCHERGINA S LEV RIZIKOV 12 LEONID KRAVCHENKO 15 BARBARA GREENWOOD 17 CHARLOTTE WOLLMAN 29 LORRAINE SMITH 30 BEVERLY ANDERSON 31 VADZI M DZE M IAN I U K 31 N 40 1 N J 0 r 40 O 00 N A' CCD 40: i o O bdr y CD o C o W O 7 con CD tz alCC b 0 o 00 w w O O O d N O o0 w O G o n O O y n CD O RD C!1CD p. o ti tz O CD C10 CD CD cl c N J 0 tip 00 N a A' CCD 40: Ile r O y CD P CD C oWo 7 con CD CD alC Q' b 0 o 00 w w O O O d N CD I G O O n O n CD O RD C!1CD p. o ti tz A C ro r o 00 F -a O p o CDEL ( 7 c CD y cn U5 lq- N 0 o c:> C:> 00 0 a A' CCD 40: WAL O a n LD CD P CD CD oWo 7 con tz CD alC Q' r o 00 F -a O p o CDEL ( 7 c CD y cn U5 lq- N 0 o c:> C:> 00 0 a A' CCD o t r y O a n LD CD P. n CD CD oWo 7 con tz CD alC Q' con Fr b a CD 0 d N CD 0o N O O 7 CD O n n E o ti tz A C ro CD CD cl c J N o co 00 00 p O A' CCD o t r y O dr y Y CD CD oWo 7 tz CD alC Q' con Fr b a CD 0 d N CD 0o N O O 7 CD O J C N o co 00 00 p O i ti0 CCD CD t r y O dr y o CD w 0 n oWo 7 tz CD alC Q' con Fr b a C N o O o O 00 p O i ti0 CCD CD O O dr y o CD CD 7 CD Q' con Fr b a n m C CD 00 N oo }.a- i ti0 00 N oo to O O dr y o CD 7 Q' con Fr d N 0o N OO O O O n CD E tz CD CD cl CD A C CD 00 N oo }.a- i ti0 00 N oo to oW o n N J CD o O W 01 P PLYMOUTH TOWNE SQUARE MEMORANDUM To: Jim Barnes From: Jeff Lelivelt, Managing Director, Plymouth Towne Square Date: January 16, 2015 Re: PTS Monthly Report for December 2014 January 2015 Newsletter and Calendar attached Occupancy/Marketing Current Occupancy — 98 Units (99%) Current Wait List Status: tOB80A& One Bedroom — 59 applicants; closed Two Bedroom -- 19 applicants (A number of applicants were removed from the list either by request or by the third turn down of an available apartment.) Apartment 119 will be rented as of 2/1/2015 Administrative/Building Operations Through early December, the Craft Room renovations were completed with counter hardware installed and tables and chairs delivered. The room will be painted in early February. A problem with one of the boilers was solved with the replacement of a heat sensor. On 12115 a PM was done on the generator and final programming for the fire monitor system was completed. A complete test of the system was performed on 12119. Resident Services The New Song Kids Choir performed their annual holiday concert on 1219. 33 residents attended. The PTS Holiday Party was celebrated on 12117. Over 90 guests attended. The holiday season also included caroling and a sing along party on 12123. 42 residents attended. 15500 37th Avenuc North • Plymouth, MN 55446-3250 Phone: (763) 550-9525 • Fax: (763) 551.-0144 Opened by Plymouth Housing and Aede elopment Aurboriry Balance Sheet PLYMOUTH TOWNE SQUARE As 4f December 31, 201 ASSETS CURRENT ASSETS M I PETTY CASH M I OPERATING ACCOUNT M I SEC DEPOSIT CASH ACCOUNT INVESTMENTS - WORKING CAPITAL FUND INVESTMENTS - NEW DEBT SERVICE INTEREST RECEIVABLE ACCOUNTS REC-OTHER PREPAID PROPERTY INSURANCE PREPAID OTHER TOTAL CURRENT ASSETS FIXED ASSETS LAND SITE IMPROVEMENTS BUILDING BUILDING IMPROVEMENTS FURN, nXT & EQUIP -GENERAL FURNITURE & FIXTURES -HOUSEKEEPING COMPUTERSIOFFICE EQUIPMENT ACCUMULATED DEPRECIATION TOTAL FIXED ASSETS NON-CURRENT ASSETS TOTAL ASSETS LIABILITIES CURRENT LIABILITIES ACCOUNTS PAYABLE -TRADE ACCRUED PAYROLL ACCRUED COMPENSATED BALANCES AGCRUEDINTEREST ACCRUED REAL ESTATE TAXES ACCRUED OTHER TOTAL CURRENT LIABILITIES LONG-TERM LIABILITIES SECURITY DEPQSITS BONDS PAYABLE -SERIES 2011A BOND PREMIUM TOTAL LIABILITIES EQUITY RETAINED EARNINGS RSRVO FOR DS RETAINED EARNINGS TOTAL EQUITY CURRENT YEAR INCOMEI(LOSS) TOTAL LIABILITIES & EQUITY Ending Balance 50D 43,054 57,261 965,748 111,533 3,750 9 13,409 6,506 459,247 111,390 5,767,619 301,779 379,211 6,696 13,060 3,572,228) 44,876 4,538 1,454 22,109 31,385 42 55,615 2,670,000 57,925 108,648 1,560,342 Total 1,203,770 3,468,772 4,672,542 74,502 2,794,540 2,869,042 1,668,990 134,510 4,672,542 Profit and Loss Variance PLYMOUTH TOWNE SQUARE Through December 31, 2014 MTD Actual Budget Var, YTD Actual Budget Var, Year Budget INCOME APARTMENT RENTAL REVENUE 52,787 52,582 225 637,185 930,744 6,441 630,744 HRA INDIVIDUAL 17,917 17,917 0 215,004 215,004 0 215,004 GARAGE RENT 2,745 2,80D 135) 34,159 34,560 401) 34,560 GUEST ROOM REVENUE 110 193 83) 3,135 2,310 619 2,316 LAUNDRY REVENUE 862 056 7 9,987 10,260 273) 10,26D APPLICATION FEE REVENUE 70 53 17 415 636 221) 036 TRANSFER FEE REVENUE 0 0 0 500 500 D 500 INVESTMENT INCOME 1,262 1,250 32 29,910 15,000 14,91D 15,D00 MISCELLANEOUS REVENUE 49 185 136) 1.205 2,220 1,015) 2.220 TOTAL INCOME 75,622 75,695 73) 931,499 911,240 2D,259 911,240 EXPENSES ADMINISTRATION MANAGER SALARIFS/WAGES 3,962 3,677 65) 46.647 46,524 123) 46,524 PAYROLL TAXES 511 1,069 556 6,463 12,826 4,345 12,828 HEALTH INSURANCE 1,137 446 991) 14,519 5,352 9,167) 5,352 WORKERS COMP INSURANCE 63 176 115 846 2,139 1,290 2,136 MAINTENANCE SALARIESNVAGES 3,929 3,751 166) 43,402 45,132 1,730 45,132 EMPLOYEE COSTS 80 80 0 1,040 1,040 0 1,040 SEMNARJTRAINING 0 25 25 370 300 70) 300 BANK FEES 0 5 5 110 60 50) 50 DUES, SUBS 6 MEMBERSHIPS 0 0 0 100 0 100) 0 LICENSE 6 PERMITS 0 0 0 957 694 63) 894 MILEAGE REIMBURSEMENT 81 89 8 096 1,060 172 1,006 POSTAGElOVERNIGHT EXPRESS 20 8 12) 69 90 27 96 PRINTING 0 10 10 175 120 56) 120 MANAGEMENT FEES 4,400 4,400 0 52,600 52,800 0 52,8CD PROFESSIONAL FEES 53 350 287 1,263 4,200 2,937 4,200 TELEPHONE EXPENSE 495 500 4 5,981 6,000 19 6,000 EOUIPMLNT LEASFJREPAIR 0 130 130 3,435 1,560 1,075) 1,560 OFFICE SUPPLIES 136 95 43) 1,190 1,140 56) 1,140 TOTAL ADMIN EXPENSES 14,871 15,D23 152 182,288 181,250 1,D38) 181,250 RESIDENT SERVICES RLSIDENT PROGRAMIACTIVITIES 1,636 2,200 564 4,212 5,200 988 5,200 TOTAL RES SFRV EXPENSES 1,636 2,20D 564 4,212 5,200 986 5,200 MARKETING PROMOTIONALIPARTIES 0 15 15 0 180 180 18C TOTAL MARKETING EXPENSES 0 15 15 0 180 180 180 HOUSEKEEPING CONTRACTLABOR 1,519 1,521 2 17,712 18,252 E40 10,252 CLEANING SUPPLIES 67 115 28 1,324 1,380 56 1,380 TOTAL HOUSEKEEPING EXPENSES 1,606 1,636 3D 19,037 19,632 595 19,632 Profit and Loss Variance PLYMOUTH TOWNE SQUARE Throtigh December 31, 2014 BUILDING & GROUNDS CABLE TV EXPENSE UTILITIES- ELECTRICITY UTILITIES - GAS UTILITIES - WATER/SEWER WATER SOFTENING SERVICE DOORS, KEYS & WINDOWS FIRE SYSTEM SERVICE LAWN SERVICElLANOSCAPISNOW RMVL PEST CONTROL TRASH REMOVAL UNIT TURNOVER REPAIRS ELEVATOR -REPAIRS & MAINTENANCE REPAIRS & MAINTENANCE BUILDING & GROUNDS SUPPLIES HVAC - REPAIRS & MAINTENANCE MISCELLANEOUS D & 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 RESERVOREPLACE CAPITAL EXPENSE INTEREST EXPENSE TOTAL DEPREC, INTEREST & OTHER NET INCOME I (LOSS) MTD Actual 55 2,531 2,677 585 431 463 90 1,317 145 384 D 53U 535 3,933 218 D 14,002 2,621 2.615 5,236 37,351 38,471 Budget Var. YTD Actual Budget BD 5 665 720 2,OOD 531) 28,040 27,300 2,600 123 27,167 22,000 B90 105 8,688 9,540 345 86) 4,003 4,140 350 113) 5,040 4,200 415 325 3,923 4,980 1,600 283 27,398 19,200 465 320 654 5,580 300 84) 4,218 3,800 2,667 2,e67 36,832 32,004 600 B2 6,298 7,200 1,500 665 31,970 35,500 1,600 2,333) 14,750 19,200 935 717 4,876 11,220 833 833 0 9,998 17,160 3,158 207,129 216,380 2,638 17 30,923 2,507 28) 31,385 5,225 11) 62,308 41,259 3,908 474,974 34,636 3,835 456,525 16,450 16,633 383 197,397 527 527 0 6,319 1,112 0 1,112) 29,357 7,497 7,370 127) 88,943 25,565 24,730 855) 322,015 12,886 9,906 2,980 134,510 31,656 31,044 62,700 485,342 425,898 205,990 6,324 32,000 88,440 328,760 97,138 Var. Year Budget 55 72D 740} 27,300 5,167) 22,000 652 0,540 137 4,140 1,440) 4,200 1,057 4,980 8,198) 19,200 4,926 5,560 618) 3,600 6,826) 32,004 902 7,200 3,530 35,5DO 4,444 19,200 6,344 11,220 9,998 9,996 9,251 216,384 733 31,656 341) 31,044 392 62,700 10,368 465,342 30,627 425,898 4,599 201,996 5 6,324 2,044 32,000 503) 88,440 8,745 328,760 37,372 97,136 U N M O NO OWh CI 6l UI r q m' [+j N m {V d R OI a `maY Wa N isNi r N m rl a c M a 0 D Q o m n m m 0 v N o N N O W M1 N n N m Tn W N m P r00q d M DZ D P N r O N 59 0 0 o h N yy [yryM N ro o m o d 1 O N N ID b m h o r n 7 a 0O v o N w o o o o m a»» Z c M m W c 0. a a 0 W rl a m m m 0 Iv•- Lu VO O h d M a a P m r ryry o o N 6 N D i` U] v 0 0 0 0 0. 0 0 0 0 M W a O r M a a N N 6 0 0 LU O V7 w n a v oItomr` d oWi v o Nn a p Q r r o o N 0 0 W t0 N N v o m r O ID O 0 W 0 4 4 4 N O D mo Ol W N N 4 4 Oi M D CW n N T N n M r m r n n v w ro y rl a w mz w W w w W X 0 LO LU z ; w w z z a w ? w fSw j z z z ¢ wLua w a x a1wwwILw H 7 7w W mO W U z g M z W Y K 2 W W W 1 W K K w 5C z w z U N rc z a h D z w LL axax 1i1Cn1 p w p 7 w w¢ F 1f LL LL? o w O wX K W O Z i W h W j z 7 0 y r, m a N Z O W O w 0 z f hqR' rn 4 y O Z p m a 0 W O Z 7 n Vwi a w a g 0 O W q LL g O W F- W J T y Z W W 0 W W 117 l7 N O W (q Q 1-. 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V n N rv6 - - n Q , o n a N yEL ro IZ M N N N a J C Q N r N N G O d Nn M m N MO W M N m o h W 9 m m N N Lcc o n NTV` a 4 LU O w Lu N 4 U7 z z w s I w ' w m o 3 Q h w Z N z z w In o LL, 3w ° d z w 7 5 z ¢ s (7 W a K u^] O}} c^r} ' a W D w 4 w w Z [- F w" w 2 a 2E z N Z w Z a OC K m O. w H e0 fn W O Z w U Z uwi rc o } w rc w oz O z p O C7 z a( xa w m to q f:.-, ~ Z 7+ w g rc a r 7 Z t= m z Lou W W U z U O W' W f47 h W w p o o a g p Q oe w 2 6 z W O D W XaX a oy p w F z W z w m a p W a~a Z 4 W Wo W t Z w w w y rn w p rc 0 a p O ff z a K rg N z y u}i w w w Q O w Ci w F w J O 3 P m 3 J JF w O w y Y W 0. g q H = 0 H W m D w w Z iW m Uurc m S O d W W a O WpLLrzmz of the way things work out. Resident Meeting Recap 12/18/2014 We reviewed the annual Holiday Party; the food was great as was the entertainment. 90 + attended. We discussed management and maintenance entering apartments. In most cases there is a 24 hour notice. A controlled entry occurs when the resident wants to be home during the visit. This is usually done by appointment. A non -controlled entry occurs during Emergency Systems tests as well as annual apartment inspections and fire and building inspections. We will give notice but can't always control the timing of the entry. An emergency entry occurs when management believes that there is immediate danger to the resident, other residents or the building. If there are any questions regarding this, please see Jeff. We reviewed the situation with illness at PTS, the seriousness of the situation and what needs to be done to ward off this danger to the residents. A full page is devoted to this in the January 2015 newsletter. We reviewed the rent increases starting January 15t 2015. A holiday sing along will take place on January 23rd at 7pm. New Year's Day will be held on January 15t, 2015 As of this day, there are only 48 days left until Jeff's birthday. Am I Contagious?' When to Stay Home Sick Maybe it began with a tickle in your throat or a stuffy nose. The next morning, you wake up coughing and sneezing, and are faced a serious dilemma: to stay in or go out? Everyone has a strong incentive to go to out every day—even when sick. However, sometimes it's important for your health --and the health of others ---to stay home. If you are suffering from a sore throat, runny nose, and general feeling of exhaustion, but don't have a fever, you could have a common cold; the flu, seasonal allergies, or a different virus altogether_ Both the common cold and the flu are caused by viruses. Viruses can easily spread from person to person—either through the respiratory system or through direct physical contact. If you have a cold or the flu, you are contagious. If you have a cold you may remain contagious for as long as you have symptoms., ff ou have the flu -you ma -v remain conta ious for up to seven €ia s after becoming sick, Onset While colds begin gradually, the flu often appears quite suddenly, as the person experiences a headache, a severe cough, muscle aches, diarrhea, chills, and fever. Cold Versus Flu If your symptoms indicate a cold and the flu, it is likely that you have a virus and are contagious. However, you might still feel well enough to go out. Should you? If you have reason to suspect the flu, stay home. Although cold and flu might initially cause similar symptoms, the flu can cause serious complications in some people such as influenza encephalitis (swelling of the brain), pneumonia, kidney problems, and respiratory failure. While you might recover from the flu without complications, you could s read the virus to someone who mi ht not be so lucky. Because you may still be contagious, it's important to know how to reduce your impact on others. Use the following simple tips to help keep everyone healthy: Avoid direct contact. Stay home. The less time you spend with others, the less likely it is that you will make them sick. Cover your cough (and sneezes). Because viruses travel through the air, `one way to stop the spread of illness is to practice respiratory etiquette," Wash your hands. Whether you use soap and water or alcohol -based gel, hand hygiene prevents the spread of illness by contact. Please help us all at PTS to stay as healthy as possible this cold and flu season and to prevent an outbreak at out building. 44---t, No. its not water. You seem to be retaining food." Geology Nme 6c &ree types CF; TV& j. cc-V-n> Aunk Cold is a relative thing.... 65 above zero Floridians turn on the heat People in Minnesota plant gardens 50 above zero Foreign cars won't start People in Minnesota drive with the windows down 35 above zero New York landlords finally turn up the heat Minnesotans have the last cookout before it gets cold Zero Californians fly away to Mexico People in Minnesota get out their winter coats 20 below zero Washington DC runs out of hot air Minnesotans check to see if all the windows are closed 40 below zero ALL sub -atomic motion stops People in Minnesota start saying "Cold enough for ya" 50 below zero Hell actually freezes over Minnesota public schools will open 2 hours late CS. M.,2 JJJTJI laugh.. I honestly think it's the thing I like most, to laugh. It cures a multitude of ills: It's probably the most important thing in a person. Audrey Hepburn JANUARY BIRTHDAYS Happy Birthday to the following residents who are celebrating birthdays this month! MAZAH I R MAMMADOV 1 YANSHAN LI 1 ANATOLIY MORKIN 5 HELEN ANDEREERG 6 FANGHU PENG 6 SANDI REKSTAD 6 ELIZAVETA MORKINA 10 GEORGE FOREMAN 10 BOB EASTLACK 12 HELEN THOMPSON 13 RENHAO ZHANG 13 DANNY KAYE 13 MAGGYVER 23 MARGARET PEARSON 29 PAUL HAH N 31 N. l• CO b -5 wvr. 0 U U U U U cd L H cd H H H H 0 m 0 m o 0 In M 0 In d a m N 00 C1 0o q 00 N 00 M 00 bD - moi Cd U c U c U 0 0 b4 a • v to b b b4 v v , • a to v b0 o r o r o o a p 0\ 00 a r- i a, r~ [ N o1 N o1 C -- RIMRIM A Y 5n. m, - z eN d P Cf v 00 o God V God tee--. - '-._ QJ N 4-4 QJ v [ I y Cq N v a H Q v v ai H Q a H Q a v r, H Q v v v 0 0 0 o 0 0 0 o 0 o p o 0 0 0 O m o m of in, M cn o m N o; a p m m cl P, t- m o m 01 N oo Q C'A q oo c) N N co 31, N N 00 o" 01 U) cil a0 a aR U a a' b ° v b U a b U o a b c m m m H aa aim H aw HCO CD M O m Q, fA o " m m aZ o In o m U7 00 1-.q 00 ON t- r -r 00 01 t- N 00 0,\ d r.( r.( 00 r -I U7 N mcksbung c. -..sig MEMORANDUM To: Jim Barnes From: Sara Paquette Date: November 10, 2014 RE: Vicksburg Crossing Monthly Report for October 2014 November Newsletter and November Calendar attached Rentals: As of October 31st we have 92 occupied apartments with 2 vacant units, and we have 2 deposits at this time, giving us a total of 0 apartments available to rent. The affordable apartment waiting list now has 40 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 #) 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 S 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 1 1 November lst Style E2 (3) 1055 Sq Ft 2 Bedroom 3 0 0 Affordable 33) 725 Sq Ft 1 Bedroom 32 1 1 December 15th TOTALS 192 12 12 3155 Vicksburg Lane N • Plyniou111, PIN 55447 • Phone (763)559-1877 • Fax (763)559-0144 • wnRu.ci.plymoutli.inn.us ow;ied ley Plymouth l lousing and Redevelopment Autl-iorit, 12Y EQUAL HOUSING OPPORTUNITY Move-InslMove-Outs; In October we had 3 move in, one in to 214 an affordable apartment, apartment 206 a 2 bedroom (style D2) and apartment 110 a moderately priced 1 bedroom. Marketing We continue to be very busy giving tours to prospective residents who either contact us by phone, email or drop in. We had 2 affordable apartments available at the same time so our list for that style apartment has gone down. Resident Services The residents really enjoyed our Halloween party this month which included, tacos, fruit, chips and pumpkin cake roll for dessert. The entertainment was provided by the Dixieland Jazz Band Maple Street Ramblers and they had several residents dancing in the aisles. We had our monthly birthday party on Thursday, October 16°i. 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 After experiencing a problem with water getting into the underground parking garage during heavy rain, this month Rite Way Waterproofing installed a drain pipe that diverts water that was entering the underground parking garage to a drain outside the garage door. We had all our security door locks changed following the installation of a new keyless entry system. Owens Companies installed the metal grate, intended to keep hornets out, on a 1' floor Magic Pak unit. We will monitor it during the winter for frost build up. Balance Sheet VICKSB JRG CROSSING As Of October 31, 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 REG -OTHER PREPAID PROPERTY INSURANCE PREPAID WORKERS COMP INSUR PREPAID OTHER TOTAL CURRENT ASSETS FIXED ASSETS LAND 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 INCOMEI(LOSS) TOTAL LIABILITIES & EQUITY Ending Balance 500 1,036,688 64,068 362,051 9,056,966 1,035 417 65 10,319 130 4,207 874,593 238,793 9,025,428 341,736 8,680 2,012,087) 26,322 3,155 1,454 175,419 45,820 108 61,045 9,675,000 9,890,000 25,401) 25,106) 11,833,D46 9,883,'177 23,136,941) Total 10,545,446 7,577,143 18,122, 589 252,276 19, 575, 538 19, 827, 815 1,420,718) 284,508) 18,122,589 Profit and Loss Variance VICKSBURG CROSSING Through October 31, 2014 MTD Actual Budget Var, YTD Actual Budget Var. Year Budget INCOME APARTMENT RENTAL REVENUE 92,998 89,785 3,213 927,763 899,740 28,023 1,079,940 APARTMENT RENTAL REVENUE - COUNTY 1,621 2,135 514) 21,133 21,350 217) 25,620 HRA SUBSIDY - TAX LEVY 4,167 4,167 0 41,670 41,670 0 50,904 GARAGE RENT 3,012 2,925 67 29,695 29,250 645 35,100 GUEST ROOM REVENUE 250 130 120 2,720 1,300 1,420 1,560 LATE FEE REVENUE 30 15 15 480 150 330 180 APPLICATION FEE REVENUE 35 53 18) 490 530 40) 636 TRANSFER FEE REVENUE 500 0 500 1,000 1,000 0 1,000 INVESTMENT INCOME 940 417 523 22,159 4,170 17,999 5,004 MISCELLANEOUS REVENUE 350 450 100) 3,465 4,500 1,035) 5,400 TOTAL INCOME 103,903 100,077 3,826 1,050,775 1,003,660 47,115 1,204,444 EXPENSES ADMINISTRATION MANAGER SALARIES 4,355 4,261 94) 42,706 42,610 96) 51,132 PAYROLL TAXES 517 1,038 521 7,287 10,360 3,093 12,456 HEALTH INSURANCE 1,358 1,624 266 13,265 16,240 2,975 19,488 WORKERS COMP INSURANCE 68 160 94 726 1,600 674 1,920 MAINTENANCE SALARIESIWAGES 3,154 3,153 1) 30,747 31,530 783 37,836 EMPLOYEE COSTS 80 80 0 880 980 0 1,040 SEMINARITRAINING 0 25 25 185 250 65 300 BANK FEES 25 5 20) 38 50 12 6D DUES, SUBS & MEMBERSHIPS 0 10 10 55 100 45 120 LICENSE & PERMITS 0 0 0 699 876 23) 676 MILEAGE REIMBURSEMENT 26 68 42 430 660 250 816 POSTAGE/OVERNIGHT EXPRESS 28 12 16) 171 120 51) 144 PRINTING 176 5 171) 226 50 176) 60 MANAGEMENT FEES 4,200 4,200 0 42,000 42,000 0 50,400 PROFESSIONAL FEES 53 267 214 1,570 2,670 1,100 3,204 TELEPHONE EXPENSE 882 527 135) 6,540 5,270 1,270) 6,324 EQUIPMENT LEASEIREPAIR 55 104 49 2,099 1,040 1,059) 1,248 OFFICE SUPPLIES 65 90 25 909 900 9) 1.080 TOTAL ADMIN EXPENSES 14,819 15,629 810 150,733 157,246 6,513 188,504 RESIDENT SERVICES RESIDENT PROGRAWACTIVITIES 372 283 89) 3,184 2,830 354) 5,113 TOTAL RES SERV EXPENSES 372 283 89) 3,184 2,830 354) 5,113 MARKETING ADVERTISING 0 40D 400 6,712 4,000 2,712) 4,800 PROMOTIONALIPARTIES 0 0 0 0 700 700 700 TOTAL MARKETING EXPENSES 0 400 40O 6,712 4,700 2,012) 5,500 HOUSEKEEPING CONTRACT LABOR 926 1,030 104 9,204 10,300 1,095 12,360 CLEANING SUPPLIES 179 11D 69) 1,346 1,100 246) 1,320 TOTAL HOUSEKEEPING EXPENSES 1,104 1,140 36 10,550 11,400 850 13,680 Profit and Loss Variance VICKSBURG CROSSING Through October 31, 2014 MTD Actual Budget Var. YTD Actual Budget Var. Year Budget BUILDING & GROUNDS CABLE TV EXPENSE 119 125 6 1,299 1,250 49) 1,500 UTILITIES -ELECTRICITY 1,839 2,000 181 18,995 21,500 2,505 25,300 UTILITIES - GAS 729 1,100 371 27,922 17,200 10,722) 22,700 UTILITIES - WATER/SEWER 1,328 935 393) 10,734 10,510 224) 12,380 WATER SOFTENING SERVICE 177 182 5 1,594 1,820 228 2,184 DOORS, KEYS & WINDOWS 549 93 456) 1,411 930 481) 1,118 FIRE SYSTEM SERVICE 53 321 266 2,553 3,210 657 3,852 LAWN SERVICEILANDSCAPISNOW RMVL 1,228 1,225 3) 17,610 12,250 5,366) 14,700 PEST CONTROL 0 625 B25 663 4,879 4,198 5,672 TRASH REMOVAL 539 300 239) 6,162 3,000 3,162) 3,600 UNIT TURNOVER REPAIRS 6,546 2,763 3,785) 26,323 27,630 693) 33,156 ELEVATOR -REPAIRS & MAINTENANCE 42B 534 108 4,248 5,340 1,094 6,408 REPAIRS & MAINTENANCE 2,745 3,500 755 22,071 25,ODO 2,929 27,400 BUILDING & GROUNDS SUPPLIES 758 750 0) 6,088 7,500 814 9,000 HVAC - REPAIRS & MAINTENANCE 641 740 99 7,279 7,4DO 121 8,880 MISCELLANEOUS B & G FXPPNSES 0 933 833 0 6,330 6,330 9,996 TOTAL BUILDING & GROUNDS 17,680 16,029 1,654) 157,573 157,749 176 187,844 OTHER OPERATING EXPENSES PROPERTY & LIABILITY INSURANCE 2,719 2,710 9) 26,759 27,100 341 32,520 PAYMENT IN LIEU OF PROPERTY TAX 4,582 4,664 82 45,820 46,640 82D 55,986 TOTAL OTHER OPERATING EXPENSES 7,301 7,374 73 72,579 73,740 1,161 88,488 TOTAL OPERATING EXPENSES 41,276 40,852 424) 401,331 407,665 6,334 469,129 NET OPERATING INCOME I ( LOSS) 62,626 59,225 3,401 649,444 595,995 53,449 715,315 DEPREC, INTEREST & OTHER EXPENSE DEPRECIATION EXPENSE 30,723 30,723 0 307,226 307,23D 4 360,676 AMORTIZATION EXPENSE 208 208 0 2,079 2,080 2 2,496 RESERVEIREPLACE CAPITAL EXPENSE 13,298 D 13,298) 41,202 42,100 096 42,100 INTEREST EXPENSE 58,473 37,456 21,D17) 583,445 374,56D 208,885) 449,472 TOTAL DEPREC, INTEREST & OTHER 102,701 68,387 34,314) 933,951 725,970 207,981) 862,744 NET INCOME! 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Pft .6 .- U 4 a4 P 44 04 4% 44 44 J4 G4 1% G4 #1 04 q% t4 J% f4 tN j4 0% d4 0 04 O4 q4 J4 04 44 G4 0% ON gc 0 qo 44 q4 Holiday Decorating a aPp4 k4 asDidn't we just take down the decorations? Hard to believe it's that F time of the year again!! I will be decorating the building on Monday, d December 1 st. If you are available, and would like to help, please F come down to the community room at 10:00. a We will be having coffee and treats following the decorating. a a g4 Wednesday, community Four Steps to healthy aging Engage your mind. Training your brain every day can help you avoid the gradual loss of memory that sometimes comes with aging. Try doing word puzzles. Read a book, maga- zine, or newspaper. Learn a new skill or hobby. Keep moving. Regular exercise helps you maintain a healthy weight and stave off depres- sion, fatigue, and anxiety. A good amount of exercise is 30 minutes, five times per week, but any amount is beneficial. Movement is also good for older joints that suffer from ar- thritis or stiffness. Take care of your heart. Eat foods low in saturated fats, refined sugar, and sodium. Avoid processed junk and fatty foods. Increase your intake of Omega-3 fatty acids, which is found in foods such as salmon and walnuts. Nourish your soul. Research shows that people with strong relationships have improved health. Any informal group of friends that you socially engage with will help ease stress. Try to foster positive relationships with people in your church, apartment building or senior center. UCare Things happening in Plymouth during November Plymouth Arts Fair Saturday, November 15th and Sunday, November 16th from 10:00 a.m. to 5:00 p.m. at the Plymouth Creek Center. Free admission. There will be many artists selling their products. Kids Garage Sale from 12:00 to 2:30 on Sunday, November 2nd at the Plymouth Creek Center. If you enjoy walking you can stay active this winter by taking advantage of the free walk- ing provided at the Plymouth Creek Center. There. Now it's haiBime. What do you say we all go to the table and have a nice, quiet Thanksgiving dinner." No/ '144 144 !0 Ai 144 .114Ili Ili Ili Ili i Ai Ili Ili I4KAi 7*- '70- 71K i1*- 71- 71K 71K 71K 71K 71. 71. 71- 711Z 71- 71 71 71. i Rent is due on or before Wednesday, zke November 5th 1 m 71 71C 71 71 il. 70> 71. i+. 71K 71%. 71%. 70. il- 70-70-i+- 0- 4 P' . Y7 c.,,' - Ye"- '', ;y. S `'mac y+ ,,.:G .»'" Tod" `..d S. Ix ' IT ' Le- I,- * 7Z l New Resident W 4 h ry Elizabeth Stenoien moved into apartment 417 and we are happy to have Regina Pshetizky back at Vicksburg f Crossing, she moved into apartment 214. 1r M. f { a:xx4 F STr . f f m l W`11yiP S. r~{x Delores Wolfarth Whist November 29th 111111 1111 1111 1111pl !I III :11I 11 11111 In case you have not found a card game that appeals to you, among the many that are offered at Vicksburg Crossing, we are adding another game on Tuesdays at 6:30 in the community room. You do not have to be an experienced Whist player to join in the fun, it's easy to learn, just come down to the community room on Tuesdays at 6:30 and e j have fun getting to know your neighbors. A T r o ' N May your turkey be plump., may :your potatoes and gravy have never a.lump., may your pies take the prize. And may your Thanksgiving dinner stay off your thighs. Thanksgiving Holiday The office will be closed on Thursday, November 27th and Friday, November 28th for the Thanksgiving holiday. Happy Thanksgiving? Happy Birthday to the following-: residents this month: November birthdays will be celebrated on Thursday, November 20th 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. Vivian Flaherty Don Fraley Arlene Olson Virginia Yeager Gregory Nielsen Irving Adams Dave Yeager November 3rd November 9th November 10th November 12th November 18th November 19th November 28th o w a C Oa ti Ob Od pb w i n n fi=f: o n o o n O O a} xpr O O O 0 0 O 0 3 a a 3 3 CD C e CD tino n* y O Cl) 0 p 0CQ) N 0 ID 0 W O r W O O E y W O O0 w O O O p cp .00• O o n o o n m o n cu o n o n; u Q a a y cb o f- Ki a o f a o D 0 m 0 a co En 2 IF 0 0 C-1 0 0 o 0 o o lb Q) 00 c o f 0 n o 0 o Z5O o V a 0• O O O O V K ro ui C C CD n 0 c cD V.&Sln— g CT OSsi.'g MEMORANDUM To: Jim Barnes From: Sara Paquette Date: December 1 S, 2014 RE: Vicksburg Crossing Monthly Report for November 2014 December Newsletter and December Calendar attached Rentals: As of November 30th we have 93 occupied apartments with 1 vacant units, and we have 1 deposit at this time, giving us a total of 0 apartments available to rent. The affordable apartment waiting list now has 40 names and we have been adding interested people to the list. On our moderately priced waiting list we have 15 people waiting for a one bedroom and 10 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 #) 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 S 0 0 Style C2 (8) 950 Sq Ft 1 + Den S 0 0 Style D (8) 1187 Sq Ft 2 Bedroom S 0 0 Style D2 (4) 1281 Sq Ft 2 Bedroom 4 0 0 Style E (7) 1055 Sq Ft 2 Bedroom S 0 Style E2 (3) 1055 Sq Ft 2 Bedroom 3 0 0 Affordable 33) 725 Sq Ft 1 Bedroom 32 1 1 December 15th TOTALS 193 1 11 3155 Vicksburg Lane N • Plynioutb, 55447 •Phone (763)559-1877 • Fax (763)559-0144 • immwi.plyrnouth.mn,us 0%%me(t 1)y PtyinouLh Housing anal Redevelopment ALILkOrity EQUAL HOUSING OPPORTUNITY Move-Ins/Move-Outs: In November we had 1 person move in to apartment 417, a 2 bedroom (style E). Marketing We had several tours this month, but at this time of year most people are more interested in moving once spring arrives. We anticipate that our traffic will slow down during the holidays. Resident Services We had our monthly birthday party on Thursday, November 20'- 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 Ant of November 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 RFC -TENANTS INTEREST RECEIVABLE ACCOUNTS RFC -OTHER PREPAID PROPERLY INSURANCE PREPAID WORKERS COMP INSUR PREPAID OTHER TOTAL CURRENT ASSETS FIXED ASSETS LAND SITE IMPROVEMENTS BUILDING FURNITURE, FIXTURES & EQUIP -GENERAL COMPUTFRSIOFFICE EQUIPMENT ACCUMULATED DEPRECIATION TOTAL FIXED ASSETS NON-CURRENT ASSETS TOTAL ASSETS LIABILITIES CURRENT LIABILITIES ACCOUNTS PAYABLETRADE 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 590 1,097,581 61,808 362,051 9,061,133 1,570 833 40 16,000 64 4,833 874,593 236,793 9,025,428 341,736 8,680 2,942,809) 9,758 3,630 1,454 233,892 50,402 2,530 61,795 9,675,000 9,890,000 25,298) 25,003) 11,833,046 9,883,177 23,136,941) Total 10, 607, 013 7,546,420 18,153,433 301,665 19,576,496 19,878,162 1,420,718) 304,010) 18,153,433 Profit and Loss Variance VICKSBURG CROSSING Through Novenilier 30, 2014 MTD Actual Budget Var. YTD Actual Budget Var, Year Budget INCOME APARTMENT RENTAL REVENUE 94,729 89,785 4,944 1,022,442 989,525 32,857 1,079,940 APARTMENT RENTAL REVENUE - COUNTY 1,631 2,135 504) 22,764 23,465 721) 25,620 HRA SUBSIDY- TAX LEVY 4,167 4,167 0 45,837 45,837 0 50,004 GARAGE RENT 3,015 2,925 90 32,910 32,175 735 35,100 GUEST ROOM REVENUE 0 130 130) 2,720 1,430 1,290 1,560 LATE FEE REVENUE 60 15 45 540 165 375 180 APPLICATION FEE REVENUE 35 53 18) 525 583 58) 636 TRANSFER FEE REVENUE 0 0 0 1,000 1,000 0 1,000 INVESTMENT INCOME 430 417 13 22,588 4,587 18,001 5,004 MISCELLANEOUS REVENUE 345 450 105) 3,810 4,950 1,140) 5,400 TOTAL INCOME 104,412 100,077 4,335 1,155,186 1,103,737 51,449 1,204,444 EXPENSES ADMINISTRATION MANAGER SALARIES 4.214 4,261 47 46,921 46,871 50) 51,132 PAYROLL TAXES 491 1,038 547 7,778 11,418 3,640 12,456 HEALTH INSURANCE 1,356 1,624 266 14,623 17,664 3,241 19,488 WORKERS COMP INSURANCE 66 160 94 792 1,760 966 1,920 MAINTENANCE SALARIESIWAGES 3,055 3,153 97 33,803 34,683 600 37,636 EMPLOYEE COSTS 80 00 0 960 960 0 1,040 SEMINARITRAINING 0 25 25 185 275 90 300 DANK FEES 25) 5 30 13 55 42 60 DUES, SUBS 8 MEMBERSHIPS 0 10 10 55 110 55 120 LICENSE R PERMITS 0 0 0 899 876 23) 676 MILEAGE REIMBURSEMENT 22 68 46 452 748 295 616 POSTAGEIOVERNIGHT EXPRESS 6 12 6 177 132 45) 144 PRINTING 0 5 5 226 55 171) 00 MANAGEMENT FEES 4,200 4,200 0 46,200 46,200 0 5U,40D PROFESSIONAL FEES 0 267 257 1,570 2,937 1,367 3,204 TELEPHONE EXPENSE 661 527 134) 7,201 5,797 1,404) 6,324 EQUIPMENT LEASE/REPAIR 55 104 49 2,154 1,144 1,010) 1,248 OFFICE SUPPLIES 0 90 90 909 990 61 1,080 TOTAL ADMIN EXPENSES 14,185 15,629 1,444 164,918 172,875 7,957 188,504 RESIDENT SERVICES RESIDENT PROGRAMIACTIVITIES 222 283 01 3,405 3,113 292) 5,113 TOTAL RES SERV EXPENSES 222 283 61 3,405 3,113 292) 5,113 MARKETING ADVERTISING 0 400 400 6,712 4,400 2,312) 4,600 PROMOTIONAUPARTIES 0 0 0 0 700 700 700 TOTAL MARKETING EXPENSES 0 400 400 6,712 5,100 1,612) 5,500 HOUSEKEEPING CONTRACT LABOR 949 1,030 61 10,154 11,330 1,176 12,360 CLEAN INGSUPPLIES 205 110 95) 11551 1,210 341) 1,320 TOTAL HOUSEKEEPING EXPENSES 1,155 1,140 15) 11,704 12,540 836 13,680 Profit and Loss Variance VICKISBU G CROSSING Through November 3101, ?014 BUILDING & GROUNDS CABLE TV EXPENSE UTILITIES - ELECTRICITY UTILITIES - GAS UTILITIES - WATERISEWER WATER SOFTENING SERVICE DOORS, KEYS & WINDOWS FIRE SYSTEM SERVICE LAWN SERVIC&LANDSCAPISNOW RMVL PEST CONTROL TRASH REMOVAL UNIT TURNOVER REPAIRS 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 OF PROPERTY TAX TOTAL OTHER OPERATING EXPENSES TOTAL OPERATING EXPENSES NET OPERATING INCOME / ( LOSS) DEPREC, INTEREST & OTHER EXPENSE DEPRECIATION EXPENSE AMORTIZATION EXPENSE RESERVF(REPLRCE CAPITAL EXPENSE INTEREST EXPENSE TOTAL DEPREC, INTEREST & OTHER NET INCOME I (LOSS) MTD Actual Budget Var. YTD Actual Budget Var. Year Budget 118 125 5 1,418 1,375 43) 1,500 1,498 1,900 4D2 20,493 23,400 2,007 25,300 2,563 2,500 63) 30,484 18,700 10,784) 22,700 853 935 82 11,587 11,445 142) 12,380 187 182 5) 1,781 2,002 221 2,164 185 83 82) 1,596 1,023 573) 1,115 1,200 321 879) 3,754 3,531 223) 3,852 2,530 1,225 1,305) 20,146 13,475 8,571) 14,700 0 625 525 683 5,504 4,821 5,672 539 300 239) 6,701 3,300 3,401) 3,600 425 2,763 2,338 28,748 30,393 1,645 33,156 425 534 108 4,672 5,874 1,202 5,408 335 1,200 855 22,400 26,200 3,794 27,400 563 750 187 7,249 6,250 1,001 9,000 225 740 515 7,504 8,140 636 8,880 0 833 833 0 9,163 8,153 9,998 11,649 15,026 3,377 169,223 172,775 3,552 187,844 2,719 2,710 9) 29,478 29,810 332 32,520 4,582 4,684 82 50,402 51,304 902 55,968 7,301 7,374 73 79,879 81,114 1,235 88,488 34,511 39,852 5,341 435,842 447,517 11,675 489,129 69,901 60,225 9,676 719,344 856,220 63,124 715,315 30,723 30,723 0 337,949 337,953 4 368,676 208 208 0 2,286 2,286 2 2,496 0 0 0 41,202 42,100 898 42,100 58,473 37,456 21,017) 641,916 412,016 229,902) 449,472 89,403 58,387 21,016) 1,023,355 794,357 228,998) 862,744 19,503) 8,162) 11,341) 304,0101 138,137) 165,873) 147,429) z w D y 0 cow w w co IL tu D w 4 0 w y F y W w w w W z = Z a N r uzJ X (7 rc w D yyyyyy z w 0. w m w w w W ¢ w C a a W W w W N W N m W S m N % y Z w W Z 2 4 W Z W LLW' U Vi Z Q UF- Z W~ w w W W W W w W W Y W W~ W W Z N 6 R m 111 Z g m Wd ti ¢ J ' W 2 U Ur W W U d Yl d d r Z t` W Z LL F W 2 OF 1 XwX ' o U O d w 7 Z 2 0. d K co U` d Z 7 F F O W O ¢ U] 4 m U R' N 4 W 0 W O W F 0. 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F' ¢ w Z ? W W U Z w D K< [a U¢? W¢¢ 7 W= 4 Z W p p a Wa[ a - U' w V' 3 LL w r p R m a 7 a)?~ qHq H F- F- Il w W w w w 0 cl o0 z O M z a K U ^ y 00 o W? F a w z m j¢ o u w a r a w rc o N z m>> j o LL g a w¢ m= Q a a Q W o ¢ s LU W F Z 93 z December 2014 We had a great Halloween party this year? Many thanks to the wonderful group of volunteers, as you know I could not do it without you Vicksburg Cr ssing enjoyed the Maple Street Ramblers Dixieland Jazz Band they Everyone even had P !b P' hG P Pb P` +' F4 ! h Pw a4 9 ' !" ^ F"$ Aa F'` FR F'` F Fb Fri P4 h4 !U F4 P4 FA A9 h40 Afh A4L '4 Pea PPa toil Holiday Decorating 44 6g fl g4 4 I will be decorating the building on Monday, December 1 st. If you are available, and would like to help, please come down to the community room at 10:00. 9 We will be having coffee and treats following the decorating. cP Oa s.;n $ P aa Pea F Peo sa ! Fa Fm $ hsa F4 Fe•5 F F e Fes F Fa Fs Fra Fs F Fea ham. Fc G, seb hsa P^ -t sa am AARP Fraud Watch Network On Wednesday, December 14th at 14:44 in the community room, someone from AARP will be here for a presentation on fraud. The presentation is based on analysis of undercover FBI fraud investigations. The FBI gave AARP access to recordings of con artists in action for the purpose of educating the public. Topics covered will be: 1) Fraud trends 2) The Con Artist's Playbook—Tactics 3) Practice Spotting Fraud 4) Reporting Fraud 5) Resources for Learning More Hope you can attend! - Holiday The office will be closed Thursday, December 25th and Friday, December 26th for the Christmas Holiday. Happy Birthday to the following q residents this month: December birthdays will be celebrated on Thursday, December 18th 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. Ann Ladd Eunice Golfis Irving Kellman Helen B eckstrand December 5th December 16th December 20th December 22nd Welcome Ascension Pre -School The children fiom Ascension Pre-school will be returning to Vicksburg Crossing on Wednesday, December 17th at 10:00 in the community room. The children love to perform for an audience and residents always enjoy their show. If you have never had a chance to attend the performance I hope you will be able to this year. After their performance the children stay to visit and have cookies and u milk with the residents. c ; r Building and Maintenance Issues Please do not over load your washing machine. If you wash bulky items such as pillows make sure you are home and checking on your machine. It's the season of salt, salt and more salt which can be very hard on your car, so I`m glad residents are able to make use of the carwash bay, but please be sure when you are finished using it that you empty the buckets, hang the wet rags, and put everything back against the wall so that it is ready for the next resident to use. Thank You! Thank You I I know many of you have commented on the beautiful fresh flowers in our lobby. One of our residents, Kathy Erickson, is responsible. I would like to thank Kathy and let her know that it is greatly appreciated, especially during these cold, dark days of winter! The Holiday Happenings in Plyinouth Old Fashioned Christmas on Saturday, December 6th from 2-5 p.m. at Plymouth Creek Park 3625 Fernbrook Lane. The event is free and people can visit with Santa Claus, meet the reindeer, snack on cookies, roast s'mores and go for a sleigh ride. If you would like they are also having a PRISM toy drive. New Year's Eve Event on Wednesday, December 31st from 6-9 p.m. at Plymouth lee Cen- ter 3650 Plymouth Blvd. There will be ice skating, crafts, face painting, enteitainment, swimming, games and open gym time. Cost is $13. i i}E i#Cii}# i ) III i .311K 7I 71A*i i i*#iA-141- * 7#_)11,1Z )1} 110 Ali 7} Rent is due on or before Friday, December 5th } 4 0 Ali )# * #i Ali #i #i *Mi )#i SIG )II-C, li VidIIburg CTOSSii g MEMORANDUM To: Jim Barnes From: Sara Paquette Date: January 12, 2015 RE: Vicksburg Crossing Monthly Report for December 2014 January Newsletter and January Calendar attached Rentals: 014,03 As of December 31st we have 93 occupied apartments with 1 vacant unit. The affordable apartment waiting list now has 40 names and we have been adding interested people to the list. On our moderately priced waiting list we have 15 people waiting for a one bedroom and 10 people waiting for either a l+ den or a 2 bedrooms. Listed below is a breakdown of units that are occupied and vacant. Style (Total ff) Square Feet Bedrooms Occupied Vacant De osits Est'd Move in Style A (23) 850 Sq Ft 1 Bedroom 22 1 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 Bedrooms 8 0 Style E2 (3) 1055 Sq Ft 2 Bedroom 3 0 0 Affordable 33) 725 Sq Ft 1 Bedroom 32 0 0 TOTALS 1 193 1 0 3155 `&J,l ;burg Lane N • PlymoutL, MN 55447 • Plioaie (763),559-1877 • Fax (763) 59-0144 • WV.M.ci.jIIymoutb.,m,.us Owned l,y PlymouLh Housing and Redevelopment kutboriLy EQUAL HOUSING OPPORTUNITY Move-Ins/Move-Outs: In December we had 1 person move in to apartment 311, which is an affordable apartment. Marketing Our traffic has slowed down during the holiday season. We did have 3 tours in December. We have a moderately priced one bedroom apartment available so we have been contacting people on our waiting list. At this time several people that have been contacted are still interested but do not want to move until spring. Resident Services December was a very busy month for residents at Vicksburg Crossing. On Wednesday, December 3ra, during our resident meeting, Jim Long from the City of Plymouth Police Department came to tally to residents about building safety. He discussed the importance that residents monitor who they let in and out of the building, watching the garage door close behind you, proper disposal of medications and different scams that target seniors. On Tuesday, December 9"' we had our annual holiday party. The Banjo Boys performed some holiday favorites and the residents were happy to sing along. This year we had the food catered by Spectacular Catering and everyone agreed that it was the best food we've had at a party. On Wednesday, December 10th we had a speaker from AARP come to talk to the residents about different forms of fraud that target seniors. It was a very informative presentation and the residents had a lot of good input and questions. Ascension pre-school came again this year to perform their Christmas program. The residents really enjoy the show and visiting with the children when they pass out cookies and milk after the performance, We had our monthly birthday party on Thursday, December 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 Balance Sheet VICKSBURG GROSSING As Of December 31, 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 REC-TENANTS INTEREST RECEIVABLE ACCOUNTS REC-OTHER PREPAID PROPERTY INSURANCE PREPAID OTHER TOTAL CURRENT ASSETS FIXED ASSETS LAND SITE IMPROVEMENTS BUILDING FURNITURE, FIXTURES & EQUIP -GENERAL COMPUTERS/OFFICE 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 INCOMEI(LOSS) TOTAL LIABILITIES & EQUITY Ending Balance 500 500,747 61,821 422,051 9,690,010 835 1,250 59 13,881 8,756 874,593 238,793 9,025,428 341,736 8,660 2,973,532) 10,078 4,304 1,454 292,365 54,984 261 61,428 9,675,000 9,890,000 25,192) 24,900) 11,633,046 9,883,177 23,136,941) Total 10,699,912 7,515,698 18,215,610 363,445 19, 576, 337 19,939,782 1,420,718) 303,454) 18,215,610 Profit and Loss Variance VICKS UR G CROSSING Through December 31, 2014 MTD Actual Budget Var. YTD Actual Budget Var. Year Budget INCOME APARTMENT RENTAL REVENUE 94,214 90,415 3,799 1,116,708 1,079,940 36,788 1,079,940 APARTMENT RENTAL REVENUE - COUNTY 1,631 2,135 504) 24,395 25,620 1,225) 25,620 HRA SUBSIDY -TAX LEVY 4,187 4,167 0 50,004 50,004 0 50,004 GARAGE RENT 3,015 2,925 90 35,925 35,100 825 35,100 GUEST ROOM REVENUE 300 130 170 3,020 1,550 1,460 1,560 LATE FEE REVENUE 60 15 45 600 180 420 180 APPLICATION FEE REVENUE 0 53 53) 525 636 111) 636 TRANSFER FEE REVENUE D 0 0 1,000 1,000 0 1,000 INVESTMENT INCOME 20,664 417 20,247 43,252 5,004 38,248 5,004 MISCELLANEOUS REVENUE 299 450 151) 4,110 5,400 1,291) 5,400 TOTAL INCOME 124,350 100,707 23,643 1,279,537 1,204,444 75,093 1,204,444 EXPENSES ADMINISTRATION MANAGER SALARIES 4,355 4,261 94) Si,275 51,132 143) 51,132 PAYROLL TAXES 488 1,038 550 8,266 12,456 4,190 12,456 HEALTH INSURANCE 1,358 1,824 206 15,882 19,488 3,506 19,488 WORKERS COMP INSURANCE 64 180 96 658 1,920 1,084 1,920 MAINTENANCESALARiESIWAGES 3,081 3,153 72 36,883 37.836 953 37,838 EMPLOYEE COSTS 60 80 0 1,040 1,040 0 1,010 SEMINARITRAINING 0 25 25 185 300 115 300 BANK FEES 0 5 5 13 60 47 60 DUES, SUBS & MEMBERSHIPS 0 10 10 55 120 65 120 LICENSE & PERMITS 0 0 0 899 B76 23) 876 MILEAGE REIMBURSEMENT 42 6B 26 494 B16 322 816 POSTAGFJOVERNIGHT"PRESS 10 12 2 188 144 44) 144 PRINTING 0 5 5 226 00 186) 60 MANAGEMENT FEES 4,200 4,200 0 50,400 50,400 0 50,400 PROFESSIONAL FEES 0 267 267 1,570 3,204 1,634 3,204 TELEPHONE EXPENSE 681 527 134) 7,602 6,324 1,538) 0,324 EQUIPMENT LEASE/RI-PAIR 55 104 49 2,209 1,249 981) 1,246 OFFICE SUPPLIES is 90 75 924 1,060 158 1,080 TOTAL ADMIN EXPENSES 14,410 15,629 1,219 179,328 188,504 9,176 188,504 RESIDENT SERVICES RESIDENT PROGRAMIACTIVITIES 1,250 2,000 750 4,655 5,113 458 5,113 TOTAL RES SERV EXPENSES 1,250 2,000 750 4,655 5,113 458 5,113 MARKETING ADVERTISING 0 400 400 6,712 4,800 1,912) 4,000 PROMOTIONALIPARTIES 0 0 0 0 700 700 700 TOTAL MARKETING EXPENSES 0 400 400 6,712 5,500 1,212) 5,500 HOUSEKEEPING CONTRACTLABOR 949 1,030 81 11,103 12,380 1,257 12,360 CLEANING SUPPLIES 33 110 77 1,584 1,320 264) 1,320 TOTAL HOUSEKEEPING EXPENSES 983 1,149 157 12,687 13,689 993 13,680 Profit and Loss Variance V1G'A,SoUR'G CROSSING ThrOUc}h December 31, 2014 MTD Actual Budget Var. YTD Actual Budget Var. Year Budget BUILDING & GROUNDS CABLE TV EXPENSE 119 125 6 1,537 1,500 37) 1,500 UTILITIES - ELECTRICITY 1,918 1,90D 18) 22,411 25,300 2,889 25,3DD UTILITIES - GAS 2,266 3,00D 734 32,750 22,700 10,050) 22,706 UTILITIES- WATERISEWER 898 935 37 12,485 12,360 105} 12,38 WATER SOFTENING SERVICE 235 182 53) 2.1316 2,164 168 2,184 DOORS, KEYS & WINDOWS 0 93 93 1,596 1,116 460) 1,116 FIRE SYSTEM SERVICE 53 321 288 3,808 3,852 48 3,852 LAWN SERVICEILANDSCAPISNOW RMVL 1,238 1,225 13) 21,384 14,700 66641 14,700 PEST CONTROL 164 166 4 847 5,672 4,625 5,672 TRASH REMOVAL 539 30D 239) 7,240 3,600 3,640) 3,800 UNIT TURNOVER REPAIRS 1,927 2,763 836 30,676 33,156 2,460 33,156 ELEVATOR -REPAIRS & MAINTENANCE 426 534 106 5,098 6,408 1,31D 6,408 REPAIRS & MAINTENANCE 110 1,200 1,09D 22,516 27,400 4,664 27,400 BUILDING & GROUNDS SUPPLIES 185 750 565 7,434 9,000 1,566 9,000 HVAC - REPAIRS&MAINTENANCE 225 740 515 7,729 8,880 1,151 8,880 MISCELLANEOUS B & G EXPENSES 0 833 833 0 9,996 9,996 9,996 TOTAL BUILDING 8 GROUNDS 10,302 15,069 4,767 179,525 187,844 8,319 187,844 OTHER OPERATING EXPENSES PROPERTY & LIABILITY INSURANCE 2,719 2,710 e) 32,197 32,520 323 32,520 PAYMENT IN LIEU OF PROPERTY TAX 4,582 4,664 82 54,984 55,988 984 55,986 TOTAL OTHER OPERATING EXPENSES 7,301 7,374 73 87,180 88,488 1,308 88,488 TOTAL OPERATING EXPENSES 34,246 41,612 7,366 470,088 489,129 19,041 489,129 NET OPERATING INCOME 1 ( LOSS) 90,105 59,095 31,010 609,449 715,315 94,134 715,315 DEPREC, INTEREST &. OTHER EXPENSE DEPRECIATION EXPENSE 30,723 30,723 0 368,671 366,676 5 360,676 AMORTIZATION EXPENSE 208 208 0 2,494 2,498 2 2,496 RESERVEIREPLACE CAPITAL EXPENSE D D 0 41.202 42,10D 896 42,100 INTEREST EXPENSE 58,618 37,456 21,162) 700,536 449,472 251,064) 449,472 TOTAL DEPREC, INTEREST & OTHER 89,549 68,387 21,162) 1,112,903 862,744 250,159) 862,744 NET INCOME I (LOSS) 556 9,292) 9,848 303,454) 147,429) 156,025) 147,429) L N 4 m o N N P v O H O A m' N RN 9 m m -N - N N N N m m z O cFOH a N w U? ow W w y w w w wa w w z nN qm g o o o g o 0 0 m o m Q o eryn o e w M W myJ O " M ILL N D! 4 y r as z u a i W z l 77 { p w F w U z g C7 E s w w w w z u7 K wo zz w w wLLJW~ rc z w z z w ` aa z m z VO p m C r e M e 7 agOJ a N r d d V jq 0oyv7i U OZ W N a ui Nw W J= Z W W m e!S 111 N W O W Fes- a p W y O w w Q w a INL F Z a z 4 Z N E a O V Z= Z g w w Vi Z Q f N r O z iZn i7 4 F N u a 0. iw} Q w a Q CQ 9 1 N O g N O o q e'1 O+ N iD Y1 5'1 M O Y ] O 1 m N Y 0 0 h O q. m m N h m m N N N` q D N D n 2 ¢ lX Yr F a¢ ,Vj J6 N Lu O m O O SC 7 FsO rn z rDV va q w am 7 U O LL o a= E w w E a a a w U b w O N v ww pa¢ H f pO O id., z O iX ¢ x 4M a o Y d N m n w e o o Y T m N q 0 M O - d a Q T A O o d N q t7 q N M D D ' V iL q aC 1+ 5p m m P q q g n q O P m q N 1 m m m ' N r f+ ' p m tl N n nhA m h M N - y W CP m a wO N a N N v m ry g Q m M M M q 0m m T N m e N OC t„ M a QC N a0 1 N O g O O^ q N O D N N h }} t'S 90 D N P g q q q P M O O m Y P I` N4h D 57 aP O f N CI . 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N S M f M m N n N V o 111 Ci imj m r C Q Q U V m N to o M b m N o mNm r m p M 1 m i0 M EL c ry W d N m 9 N A Y ul N a m n N W W N o Q n d a Q m rn .n o .n M1 ti m N Or Y, a N N w v M N O^ _ r co m 00 m a n v d o"' ry M o c ri n n ry w nLLIrdi N o r v m ^ 'm" m • M Q N_ 0 ry v M1 vi M ' m C mN a aa W n r ri a ri r ci ry v h m I a coW w rc w w n,P w a a y z o Cl z w (0 N P }F} x N X w W Z 2 h Q F 0 W J l.7 N a Z 0 W= w W W EL U)¢ Z z x w s u g u c° C7 X rc K a O w vwi 4d4 W m u w N U 0 a 4 co, j ¢ 0!1 W- a W W O c5 W W [J z z W g ¢ Q' z F4 m ° z z m 6 u'S u i U y0 a w ` ¢ w ° m u_I O w W¢ o K W r z K Z z a a a Ju qwc7 $ o w rc m a S a °° z M K H o o w r W Z a r o f l7 w w w Y w o w a m z m 4 a z a v > h a p m 7 1 W 0 ri F w a ¢ H x O i~ O O W a 0 uwj w ZrrrQPwazw>> 0 Q d Fuaaa30—a¢ a ~ O w w w H z 0 z Vicl;,;b,,k -g+ Cro-3sing January 2015 It is hard to believe it's been almost 7 years since I started my job as Manager at Vicksburg Crossing, and many of you were here when I started so you are aware how fast that time goes. I would just like to let everyone know that I feel very lucky to have the chance to get to know and work with such a wonderful group of residents and their families. I look forward to another year! Our final party of the year, on Tuesday, December 9th, was a great way to say good-bye to 2014! We tried a new catering company and I think it was unanimous among residents that the food was much improved. The Banjo Boys provided musical entertainment that included many familiar, sing along, holiday songs. We had a group of wonderful volunteers that made sure set up, delivery of food and clean up all went smoothly. I would like to say thank you to all the residents that volunteered in many different ways throughout 2014. I couldn't do it without you!! I would like you to know your hard work is greatly appreciated. Thank You!! Thank You!! New Resident We had a new resident move in to apartment 311 in December. Please welcome Nancy Klemm to Vicksburg Crossing. Welcome! Ali Ali Ali -.li %de %J/ Ali Ali -li %1z -de -.li Fi Ali {r Ali Ali Ali Ili Ali Ali7F 7 7i 7 7 iic 7+1Z 7111-1. 711 7117F 11 7F 71Z,70- 7F 70% Ali 71C Rent is due on or before Monday, January 5th Ali Ali Ali li Ali Ali Ali Ali Ali Ali FIs oli 4i Fi Ali Ali Ali ali Ali ali Fi7 - 70. F 711Z 70z 7I,.- 701 701Z 711Z 70- 70- 0- 711 76. 70% 70% 711Z 71%, 71T. 711 Take Down Holiday Decorations I always find taking down your holiday decorations more tedious than putting them up but unfortunately it has to be done. If you would be willing and able to help with this chore please come down to the community room at 10:00 a.m, on Monday, January 5th. Of course there will be treats and coffee following all that hard work! Thank You! Resident Coffee and Meeting v °Y Our next resident meeting will be Wednesday, January 7th at 9:44 in the community room. At our last resident meeting James Long, from the Plymouth Police Department, here keepingwastotalkabout our building safe. He had some good, useful infor- p g g g :- mation. He addressed issues such as, watching the garage door close when you en ter and leave the garage, keeping your car doors locked, even in the garage, and not letting people you do not know in any of the security doors. Jim Barnes, the Housing Manager from the Cit of Plymouth, also attended theggYYms meeting. He discussed rent increases for 2015 and explained the improvements° that are scheduled. He also talked to residents about things they would like to see done in 2015. Some of the items that residents addressed were painting the com- om munitymunity room and changing artwork in the building. Jim explained how we keep fcD° T track of improvements and incorporate them into the budget. Please remember that p we do review resident surveys when considering budget items. Hope to see you at the meeting! m 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. Laura Roiger January 7th Cheri Balthazor January 8th Elizabeth Stenoien January 14th Pat Forcier January 21 st Regina Pshetizky January 26th Ida Beltrand January 29th LuElla Stokke January 31 st Building and Maintenance Issues Please remind family and friends not to park in front on the entryway. We have residents that need to be picked up by Metro Mobility or Plymouth Dial -a -Ride and they cannot get into the vehicle if the driver is unable to pull up to the door. We have had a couple of reports from residents concerned that they smelled cigarette smoke in the garage. Please be sure that your family and friends are aware there is no smoking anywhere in the building or on the grounds. In the month of December we had several speakers come during our coffee hour, I would like to remind residents to turn off their cell phones if attending a presentation. Thanks to those of you that took the time to fill out and return your resident surveys. These surveys give you a chance to help Management determine what items you feel should have priority so that we can incorporate them into the budget. Please remember that with over 100 residents in the building everyone has different requests that they feel are important. We do our best to try to balance these requests and accommodate as many people as possible. Thank You! Hearts & Memorial Luncheon IV Every year that we have extra funds in our Hearts & Memorial donation account we have a luncheon to remember those residents that, either had to move, have passed away, or resi- dents that still live at Vicksburg Crossing but perhaps lost a loved one in 2014. We do not charge for the luncheon, I just ask that residents who would like to come sign up on the sheet outside my office. IV The luncheon will be on Thursday, January 22nd at 12:00 in the community room. IV If you know anyone you would like to be remembered or acknowledged during the luncheon please let me know. I hope you can join us! W Holiday e, The office will be closed Thursday, January 1 st for New Year's Day. n n + L]_ e• EI_ • S S S S S S 61_ °• fA_ ° I_ °° fA_ ` °° IA_ ° ° / U ae ° °e •s IL LL 0 0 0 0 0 0 0 o o o s. L[} cc, O O b U U U N a U b U c° rn v, o mmoo CS CO L CDOCOL13LpiCO 73 C4 M o U o U o o U Q o m o m a (D o O a o o m Z., ts Its ItsUCo m a, o 64 N o U U U UUoUoFzUoU m c 0 oM n ca m n c c o m O NromOcab ca O b 00 co m O L n O U ooU 000 R, ooU Oq 1 9 co n Agenda Number 9' D' PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY STAFF REPORT TO: Plymouth Housing and Redevelopment Authority FROM: Spencer Agnew, HRA Specialist through Jim Barnes, HRA Manager and Steve Juetten, Executive Director MEETING DATE: January 22"a, 2014 SUBJECT: HRA Programs Update BACKGROUND: This report reviews the activity of several HRA programs over the last year, including the Emergency Repair Assessment Program, the Emergency Repair Loan Program, and the Architectural Design Consultation Program. Emergency Repair Assessment Program The Emergency Repair Assessment Program was approved in July 2012. The purpose of the program is to provide assistance to Plymouth residents who are facing the unexpected financial burden of a needed exterior private utility repair (sewer or water line repair that is the responsibility of the property owner). It is targeted to households whose income level is at or below the HUD median but above the limits for the HRA's CDBG housing rehab loan programs. The program provides loans of up to $5,000 for small and emergency exterior private utility repairs. The funds are repaid through a special assessment to the property for the cost of the repairs and interest in accordance with the City's current Public Irnprovement Assessment Policy. The program is funded through the City Sanitary Sewer and Water Utility Funds. No Emergency Repair Assessments have been completed to date. HRA staff have fielded a handful of inquiries for the program each year since its inception. One household was ultimately assisted through the CDBG housing rehab program as the income level was low enough to qualify for the more favorable financial terms of that prograrn (0% interest deferred loans). Other households have been over the income limit and/or opted to pursue other financing options for the repairs. The primary marketing for the program has been through City Public Works staff that respond to inquiries from homeowners dealing with utility leaks on their property. Emergency Repair Loan Program The Emergency Repair Loan Program was approved in July 2012. The purpose of this program is to provide assistance to Plymouth residents who are facing the unexpected financial burden of urgent needed repairs, such as replacement of failed plumbing, heating, or electrical systems. Like the Emergency Repair Assessment Program, the program is targeted to households whose income level is at or below the HUD median but above the limits for the HRA's CDBG housing rehab loan programs, The program provides loans of up to $5,000. Loans are secured as lien on the property and repaid with interest over three or five years. The program is funded by the HRA General Fund. No Emergency Repair Loans have been completed to date. HRA staff have fielded approximately ten inquiries for the program since its inception. Some inquiries have been for work that is ineligible for the program (replacing trees damaged by storms), while others have pursued other financing options. The program has not been heavily marketed, but is typically offered as an option to homeowners who are denied for the CDBG housing rehab loan program due to being over the income limit for that program. Fire Suppression Loan Program The Fire Suppression Loan Program was approved in July 2013. The purpose of the program is to provide assistance to Plymouth apartment building owners who are interested in installing a new fire suppression system. The Fire Suppression Loan Program is a pool of funds set aside within the Plymouth HRA funded by the HRA Reserves. The program provides a maximum loan of $125,000 per eligible property to fund the installation of a fire suppression system. The loan funds plus interest are recovered through a special assessment on the improved property, in accordance with the City's current Public Improvement Assessment Policy. HRA staff have received one inquiry regarding the Fire Suppression Loan Program. The inquiry was from the owner of Vicksburg Village, a 334 -unit apartment property that experienced a damaging fire in July of 2013. IIowever, the building owner ultimately decided not to move forward with installing fire suppression. Architectural Design Consultation Pilot Program The Architectural Design Consultation pilot program was approved in January 2014. The program assists homeowners in making renovations to older homes by paying the majority of the cost of a two-hour consultation with an AIA -licensed architect. A budget of $5,000 was approved for the program, which is open to owner -occupied Plymouth homes that are 30 years old or older. Since being approved and first publicized in April 2014, HRA staff have received applications from four households. Two households have completed consultations. The remaining two approved households have yet to complete a consultation but plan do so within two months. Program participants are surveyed regarding their opinion of the program upon completion of the consultation. Wbile the number of surveys is not yet sufficient to warrant meaningful analysis of the program, both respondents thus far reported satisfaction with the architect consultation and a high likelihood of completing renovations to their homes within the next year, RECOMMENDATION: Staff recommends that the Plymouth Housing and Redevelopment Authority Board of Commissioners review and discuss activity for these programs. Agenda Number 41. PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY STAFF REPORT TO: Plymouth Housing and Redevelopment Authority FROM: Jim Barnes, Housing Program Manager through Steve Juetten, Executive Director MEETING DATE: January 22, 2015 SUBJECT: Sand Companies — Potential Mixed Income Project. BACKGROUND, Sand Companies, a multi -family apartment developer based out of St. Cloud, has approached staff with the idea of developing a mixed income apartment community project on the remaining parcel of the Plymouth Crossroads development (see attached location map). This site is located In the HRA's Tax Increment district 1-3, which was created in 2006 to facilitate the redevelopment of the Plymouth Shopping center on Highway 55 just west of County road 73. As you may recall, the original developer, Dove Capital, was unable to follow through on their redevelopment project and Minn West Bank foreclosed on their loan and took the property back. In 2010, Minn West reached an agreement with Oppidan Development to complete the project. oppidan began the project in 2012 and currently has two of the three main parcels developed with an assisted living project and a McDonald's fast food restaurant. Tha remaining parcel, which has about 4 acres of developable land, remains vacant and the developer has struggled to identify an end user. Sand Companies believes this may be an ideal site to develop a mixed income project and is interested in soliciting feedback from the HRA Board about their plans and will be in attendance at the January meeting to share their concept. At this point they have not formally requested any assistance, but have indicated that they would if the NRA showed favorable interest in this project. RECOMMENDATION - Staff recommends that the Plymouth Housing and Redevelopment Authority Board of Commissioners provide feedback to the developer and staff regarding a multifamily mixed income housing project on this site. ATTACHMENTS: 1. Location map z T 1T 2 2rT Z T „ -; r., T .,.. Cr .:: ,H 77r rT 7J ,r r .. t r 7 T 7 T' : - rte T_ r V 1 ir. T l i L rT S a T 7 r 7 r 7 ... z T_ - r Y r T LLLLZJ r ter.. a - 7', r 7- 7 tT. T 77.] 17:,—" a r $: 7 ' r T .-.._ TT 1 T. 7r z ....._......... 7.71. x, 7 T z a.r 77 r 77 w momma' a -- a7 - _ :, 7 - r ..r. _ ..... a - 1 M r, r T-z_'..r.-.. 7 -' r r r----.' r 0 lb IN IN TO: FROM: MEETING DATE: SUBJECT: BACKGROUND: Agenda Number 3 . 5 PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY STAFF REPORT Plymouth Housing and Redevelopment Authority Spencer Agnew, HRA Specialist through Jim Barnes, HRA Manager and Steve Juetten, Executive Director January 22", 2014 Home Energy Squad Enhanced Program This report reviews the Home Energy Squad Enhanced program offered by the Center for Energy and Environment (CEE) in some Twin Cities communities. The information is presented so that the IIRA may consider whether it would be beneficial to Plymouth residents. The Home Energy Squad (IIES) is a service provided by CEE on behalf of Xcel Energy and CenterPoint Energy. The basic IIES program provides homeowners with a visit from a home energy technician for a fee of $70. During the visit the technician assesses the home's energy efficiency, identifies opportunities for savings, and installs materials such as programmable thermostats, weather stripping, efficient light bulbs, and faucet aerators. The cost of these materials is included in the $70 fee for the visit. The basic HES program is available and marketed to all residents in the Twin Cities metro area. However, the IIome Energy Squad also offers an "Enhanced" program in cities that have partnered with CEE to do so. The HES Enhanced visit provides the same benefits of the basic program but also includes blower door testing to identify air leaks, an insulation inspection, and a combustion safety check for the furnace and water heater. Afterwards, the homeowner receives a detailed report identifying improvements and repairs which would result in substantial energy savings for that specific home. The report provides a cost estimate for the recommended repairs, notes available utility rebates, and lists financing options. The cost for these Enhanced visits is 100. The contract between CEE and the utility companies for the operation of the HES program stipulates that the Enhanced option may only be marketed to residents in communities that are Partner Cities" for the program. Partner Cities are those that have entered into a programmatic agreement with CEE to market the Enhanced visits and to pay a portion of the $100 cost. Partner Cities decide the amount they will contribute to each Enhanced visit and the maximum number of visits the city will pay for each year. Current Partner Cities for the Enhanced program include Bloomington, Edina, Hopkins, Minneapolis, Richfield, and St, Louis Park. Budgets range from $5,000 to $15,000 per year, and most Partner Cities pay for half ($50) of the cost of each visit with the homeowner paying the remaining half. The primary benefit of the HES Enhanced program is that it helps homeowners save money on energy costs by making efficiency improvements to their homes. The program additionally benefits cities by encouraging homeowners to invest in home improvements such as replacing older mechanical systems and installing insulation. The program also helps ensure the safe operation of fiunaces and water heaters through the inclusion of a combustion safety test. If Plymouth were to become a Partner City for the program, CEE would then be able to market the program to Plymouth residents. Currently only the basic visit is marketed in Plymouth. Homeowners may obtain an Enhanced visit if they are aware that it exists and ask for it, but CEE may not offer it as an option to Plymouth residents unless specifically asked. In 2014, 94 Plymouth residents received the basic HES visit while 19 received an Enhanced visit. Should Plymouth become a Partner City for the Enhanced program, CEE staff recommends budgeting for participation of approximately 200 households per year. RECOMMENDATION: Staff recommends that the Plymouth Housing and Redevelopment Authority Board of Commissioners discuss the Horne Energy Squad Enhanced program, Agenda Number 3 " fo PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY STAFF REPORT TO: Plymouth Housing and Redevelopment Authority FROM: Jim Barnes, HRA Manager through Steve Juetten, Executive Director MEETING DATE: January 22, 2015 SUBJECT: Tax Increment Redevelopment District 1-1— Approve Redemption of General Obligation Tax Increment Bonds, Series 2005A and Enter into a Pledge Agreement with the City of Plymouth. BACKGROUND: In April of 2005, the City issued General Obligation Tax Increment Bonds in the amount of $1,370,000 pursuant to a pledge agreement with the HRA in order to pay for infrastructure improvements identified in the TIF Redevelopment District 1-1 Plan. This TIF district is located on the southwest corner of Highway 55 and Vicksburg Lane and includes Lowe's Home Improvement store along with other retail businesses (see attached map). The bonds are pre -payable on February 1, 2015 and will have a remaining principal balance of $835,000 for maturities dated 2016 through 2023. In order to reduce interest costs and provide flexibility in future pre -payment options, the City and HRA intend to utilize City funds to pay off all $835,000 in remaining principal on the Bonds on February 1, 2015, Under guidance from our financial advisor, Ehlers, and bond counsel, Briggs & Morgan, staff is recommending paying off the remaining balance of these bonds utilizing funds from the General Construction improvement fund and establishing an interfund loan to provide reimbursement back to this fund from future tax increment. The Pledge agreement will allow for the transfer of tax increments received from TIF District 1-1 to be transferred to the City to pay back the funds used to redeem the Bonds (see attached agreement), RECOMMENDATION: Staff recommends that the Plymouth Housing and Redevelopment Authority Board of Commissioners approve the attached resolution authorizing the redemption of General Obligation Tax Increment Bonds, Series 2005A and enter into a Pledge Agreement with the City of Plymouth. ATTACHMENTS: 1. Location Map 2. Pledge Agreement 3. Resolution 5 z,+ 1 kMk$3Xi 5 aM 4-i.-. S5 Y d AF 7 R fit SdOWN ROURIOR8 3£8888 SlFR t 3Af 53 8$irS il BOTH AME i - C q 47 BO7TH AAE rn LAKE: IRD r o 567TH AE 55TH ASE i MCC LU2 J w SOTH AE i z 56TH AE g g 45TH AE I Y a 45TH AE m LL 4MH AE I 4TF 467TH AE oss 3611-I AE Shops U HTH AME 3OTH AE g 25IH A.E - YU 251FiA. - Z aTlli Ar.E af 0 2O z . 27tH A.E R C ss 157TH AME 44 C 157TH AE 4 r m 10TH AE Y 107TH A\E C U 5TH AA --- a, ER037ALNfR037ALNrAE Rid AE g gig g 8 88 88 8 8 88$88QQg 8888p8> gg 8 8HUpNI yy p g gg gggggggggg gggggg ggUNI 8 8 N 8ggq8_5flff$8-088888 -28-01 I 5s 7778,,, 777zr pol666 (12222 111 g m r{ m GGG p HRA TIF District 1-1 Shops at Plymouth Creek 0 District Boundary City of Plymouth, Lake Minnesota 1 0.5 0 1 2 3 4 Miles TAX INCREMENT PLEDGE AGREEMENT THIS TAX INCREMENT PLEDGE AGREEMENT, entered into as of February 1, 2015, by and between the City of Plymouth, Minnesota (the "City"), and the Housing and Redevelopment Authority in and for of the City of Plymouth, Minnesota (the "Authority"); WITNESSETH: A. WHEREAS, attached hereto as Exhibit A is a resolution adopted on December 9, 2014, by the City Council entitled "Resolution Calling for Redemption of Certain Outstanding Bonds" (the "Call Resolution"). The Call Resolution authorizes the City to redeem the outstanding principal balance of the City's $1,370,000 General Obligation Tax Increment Bonds, Series 2005A, dated April 1, 2005 (the "Prior Bonds") of which $835,000 remains outstanding. B. WIIEREAS, the Prior Bonds were issued by of the City for the purpose of providing money to pay public development costs attributable to certain improvements made by the City pursuant to a Development Agreement by and between the Authority and Shops at Plymouth Creek, L.L.G., dated as of February 1, 2005. The principal and interest on the Prior Bonds were paid primarily from tax increments realized by the Authority from Tax Increment Financing (Redevelopment) District No. 1-1 (the "TIF District"), within Redevelopment Project Area No. 1 (the "Project") established by the City; and C. WHEREAS, the City has adopted a resolution, attached hereto as Exhibit B, entitled "Resolution Authorizing an Interfund Loan for Refinancing of Certain Obligations Paid From Tax Increment Financing District No. 1-1" (the "Interfund Loan Resolution"), wherein the City has established an intcrfund loan to utilize City funds to redeem the Prior Bonds and create a new obligation for the TIF District (the "Interfund Loan"); and D. WHEREAS, to provide funds sufficient for the timely payment of the Interfund Loan, it is necessary for the Authority and the City to enter into this Agreement, NOW, THEREFORE, the Authority hereby pledges to the City for the repayment of the Interfund Loan tax increments that are derived by the Authority from the TIF District in the amounts and payable at the times set forth in Exhibit C attached hereto and which are available pursuant to applicable law for such purposes. This Agreement shall become effective upon the adoption of the Interfund Loan Resolution. IN WITNESS WHEREOF, the City and the Authority have caused this Agreement to be duly approved and executed as of the day and year first above written. 6857512v2 CITY OF PLYMOUTH, MINNESOTA By Its Mayor By Its City Clerk Signature page to Tax Inuernent Pledge Agreement S-1 G857512v2 HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF PLYMOUTH, MINNESOTA By Its Chair By Its Executive Director Signature page to Tax Increment Pledge Agreement S-2 6857512v2 EXHIBIT A EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF PLYMOUTH, MINNESOTA HELD: December 9, 2014 Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Plymouth, Hennepin County, Minnesota, was held at the City Hall on December 9, 2014, at 7:00 o'clock P.M. The following members were present: Mayor Slavik, Councilmembers Willis, Bildsoe, Wosje, Johnson, and Prom. and the following were absent: None, Member Johnson introduced the following resolution and moved its adoption: RESOLUTION NO. 2014-366 RESOLUTION CALLING FOR REDEMPTION OF CERTAIN OUTSTANDING BONDS A. WHEREAS, the City of Plymouth, Minnesota (the "City") issued $1,370,000 General Obligation Tax Increment Bonds, Series 2005A, dated April 1, 2005 (the "Bonds"), of which $920,000 remains outstanding; and B. WHEREAS, all Bonds maturing in the years 2016 and thereafter, are subject to redemption and prepayment at the option of the City, on February 1, 2015, and on any date thereafter, at par and accrued interest, all as provided in the resolution of the City Council adopted on March 8, 2005, authorizing the issuance of the Bonds (the "Prior Reso)ution"); and C. WHEREAS, the City Council deems it desirable and in the best interest of the City to call the 2016 through 2023 maturities of the Bonds, totaling $835,000 in principal amount, on February 1, 2015, in accordance with the Prior Resolution. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Plymouth, Minnesota, as follows: 1. Bonds to be Redeemed, Bonds maturing or subject to mandatory redemption in the years 2016 through 2023, inclusive, shall he redeemed and prepaid on February 1, 2015 at par and accrued interest, 2. Mailingof Notice of Call for Redemption. The City Clerk shall cause the Notice of Call for Redemption attached hereto as Exhibit A to be mailed thirty days prior to February 1, 2015, to the paying agent for the Bonds. A-1 6857512v2 3, Reposit of Sufficient Funds, The City Finance Manager is hereby authorized and directed to deposit with the paying agent prior to February 1, 2015, sufficient funds to pay the principal and interest due on the Bonds called for redemption. The motion for the adoption of the foregoing resolution was duly seconded by Member Bildsoe and upon a vote being taken thereon, the following voted in favor thereof: and the following voted against the same: Whereupon the resolution was declared duly passed and adopted. STATE OF'MINNESOTA COUNTY OF H NNEPIN CITY OF PLYMOUTH The undersigned, being the duly qualified and acting City Clerk of the City of Plymouth, Minnesota, do hereby certify that I have carefully compared the attached and foregoing extract of minutes of the City Council of the City of Plymouth, Minnesota, held on the date therein indicated, with the original thereof on file in niy office, and the same is a full, true and complete transcript therefrom insofar as the same relates to authorizing the redemption of Bonds. WITNESS my hand as such City Clerk on December 9, 2014. L'd, tui at- A-2 L'ity Clerk n 68575i2v2 Exhibit A NOTICE OF CALL FOR REDEMPTION GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 2005A CITY OF PLYMOUTH HENNEPIN COUNTY MINNESOTA NOTICE IS HEREBY GTVEN that by order of the City Council of the City of Plymouth, Hennepin County, Minnesota, there have been called for redemption and prepayment on February 1, 2015 those outstanding bonds of the City designated as General Obligation Tax Increment Bonds, Series 2005A, dated April 1, 2005, having stated maturity dates or subject to mandatory redemption in the years 2016 through 2023, inclusive, and totaling $835,000 in principal amount. Year CUSIP Number* 2016 2017 2018 2019 2020 2021 2022 2023 The bonds arc being called at a price of par plus accrued interest to February 1, 2015, on which date all interest on the bonds will cease to accrue, Holders of the bonds hereby called for redemption are requested to present their bonds for payment, at the Office of the City Finance Manager, City of Plymouth, Minnesota. Dated; December 9, 2014 BY ORDER OF THE CITY COUNCIL Lktaa?lwt CYity Clerk The City shall not be responsible for the selection of or use of the CUSH' numbers, not is any representation made as to their correctness indicated in the notice. They are included solely for the convenience of the holders, A-3 6857512x2 EXHIBIT B CITY OF PLYMOU'T'H HENNEPIN COUN`T'Y STATE OF IVMNNESOTA Councilmember Johnson introduced The following resolution and moved its adoption - RE SOLUTION doption: RESOLUTION NO, 2014-390 RESOLUTION AUTHORIZING AN INTERFUND LOAAN FOR A REFINANCING OF CERTAIN OBLIGATIONS PAID FROM TAIL INCREMENT TINANCINGDISTRICT NO. 1-1. BE IT RESOLVED by the City Council of the City of Plymouth, Minnesota (the "City"), as follows: Section 1. Background. 1.01. The City Council previously established Tax Increment FinancingDistsict No. 1-1 (the "TIF District") and adopted a Tax Increment Financing Plan (thc "TIF Plan") and the Dousing and Redevelopment Authority (the "HRA.") is the administrative authority for the TIF Disitict, 1.02. The City previously issued General Obligation Tax Increment Bonds, Series 2005A (the Bonds' pursuant to a pledge agreement with the HRA in order to pay for certain costs identified in the TIF Plan consisting of site improvements, other qualifying improvements, interest and administrative costs (collectively, the "Qualified Costs"). 1.03. Lander Minnesota Statutes, Section 469.178, Subd. 7, the City and fIRA are authorized to advance or loan money from their general funds or any other fiend from which such advances may be legally authorized, in order to finance or refinance the Qualified Costs. 1.04. The Bonds are prepayable on February 1, 2015. In order to reduce interest costs and provide flexibility in future pre -payment options, the City and HRA iDtend to utilize City funds to pay off all $835,000 in remaining principal on the Bonds on February 1, 2015 and create a new obligation for the TIF District in accordance with the terms of this resolution (which terns are referred to collectively as the Interfund Loan"). Section 2. Terms of Interfnnd Loan. 2.01, The City hereby authorizes the advance of up to $900,000, or so much thereof as may be necessary for outstanding Bond principal and any associated administrative or accrued interest costs, from the CON -400 Construction Improvement Fund or such other fund identified by the City Manager. The City shall be reimbursed with future tax increment revenues from the T1F District with interest at 4% and such rate will not fluctuate in the future. 2,02. Principal and interest ("Payments") on the Interfund Loan shall be, paid semi-annually on each August 1 and February 1 (each a "Payment Date"), commencing on August 1, 2015, or on any other dates determined by the City Manager, through the date of last receipt of tax increment from the TIF B-1 6857512v2 District. 2,03, Payments on this Interfund Loan are payable solely from "Available Tax Increment," which shall mean, on each Payment Date, tax increment available after other obligations have been paid, or as determined by the HILA Executive Director, generated in the preceding six (6) montbs with respect to the property within the TIF District and remitted to HRA by Hennepin County, all in accordance with Minnesota Statutes, Sections 469.174 to 469.1799, all inclusive, as amended. Payments on this Interfund Loan may be subordinated to any outstanding or future bonds, notes or contracts secured in whole or in part with Available Tax Increment, and are on parity with any other outstanding or future interfund loans secured in whole or in part with Available Tax Increment, 2.04. The principal sum and all accrued interest payable under this Interfund Loan are pre- payable in whole or in part at any time by the City and HRA without premimn or penalty. No partial prepayment shall affect the amount or timing of any other regular payment otherwise required to be made under this Interfund Loan. 2.05. This Interfimd Loan is evidence of an internal borrowing in accordance witb Minnesota Statutes, Section 469,178, Subd, 7, and is a limited obligation payable solely from Available Tax Increment pledged to the payment hereof under this resolution, The IIRA sba11 have no obligation to pay any principal amount of the Interfund Loan or accrued interest thereon, which may remain unpaid after the final Payment Date, other than tax increments from (be TI13 District. 2.06. The City Council may amend the terms of this Interfund Loan at any time by resolution, including a deterinination to forgive and/or prepay the outstanding principal amount and accrued interest to the extent perrnissible under law. Section 3. Effective Date. This resolution is effective upon the date of its approval and upon receipt of a pledge of tax increment payments from the TIF District by the LIRA Board. The motion for the adoption of the foregoing resolution was duly seconded by Couacihnember Bildsoe, and upon a vote being talcen thereon, the following voted in favor thereof: and file following voted against Clio same; ADOPTED this 9th day of December, 2014. STATE OF MINNESOTA) COUNTY OF HENNEPIN) SS. The undersigned, being the duly qualified and appointed City Clerk of the City of Plymouth, Minnesota, certifies that I compared the foregoing resolution adopted at a meeting of the Pfymouth City Council on December 9, 2014 with the original thereof on file In my office, and the same is a correct transcription thereof. WIT €( SS my hand officially as such City Clerk and the Corporate seal of the City this Ph day of !l/r LLJGI L,r" X 15, n B-2 6857512v2 EXHIBIT C Shops at Plymouth Creek (TIF 1-1) Interlund Loan T?F Note Dated Date Beg. Balance Payment Schedule Total Principal Interest Payment Payment Payment Available TIF) 4.000% End Balance PAYMENT DATE Mth. Yr. Yrs. 2/1/2015 835,000.00 0.00 0.00 0.00 835,000.00 i -Feb 2015 0.0 835,000.00 44,797.86 16,700.00 61,497.86 790,202.14 1 -Aug 2015 0.5 790,202.14 45,693.82 15,804,04 61,497.86 744,508.33 1 -Feb 2016 1.0 744,508,33 46,607.69 14,890.17 61,497.86 697,900.64 1 -Aug 2016 1.5 697,900.64 47,539.85 13,958.01 61,497.86 650,360.80 1 -Feb 2017 2.0 650,360.80 48,49D.64 13,007.22 61,497.86 601,870.16 1 -Aug 2017 2.5 601,870.16 49,460.46 12,037.40 61,497.86 552,409.71 1 -Feb 2018 3.0 552,409.71 50,449.67 11,048.19 61,497.86 501,960.04 1 -Aug 2018 3.5 501,960.04 51,458.66 10,039.20 61,497.86 450,501.39 1 -Feb 2019 4.0 450,501.39 52,487.83 9,010.03 61,497.86 398,013.56 1 -Aug 2019 4.5 398,013.56 53,537.59 7,96027 61,497.86 344,475.98 i -Feb 2020 5.0 344,475.98 54,608.34 6,88952 61,497.86 289,867.64 1 Aug 2020 5.5 289,867.64 55,700.51 5,797.35 64,497.86 234,167.14 1 -Feb 2021 6.0 234,167.14 56,814.52 4,683.34 61,497.66 177,352.62 1 -Aug 2021 6.5 177,352.62 57,950,81 3,547.05 61,497.86 119,401.82 1 -Feb 2022 7.0 119,401.82 59,109.82 2,388.04 61,497.86 60,292.00 1 -Aug 2022 7.5 60,292.00 60,292.00 1,205.84 61,497.84 0.00 1 -Feb 2023 8.0 TOTALS 835,000.00 148,965.67 083,965.67 C-1 6857512v2 EXTRACT OF MINUTES OF A MEETING OF THE BOARD OF COMMISSIONERS OF THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF PLYMOUTH, MINNESOTA HELD: January 22, 2015 Pursuant to due call and notice thereof, a regular or special meeting of the Board of Commissioners of the Housing and Redevelopment Authority in and for the City of Plymouth, Minnesota, (the "Authority"), was duly called and held at the City Hall on January 22, 2015, at o'clock M. The following members were present: and the following were absent: Member introduced the following resolution and moved its adoption; RESOLUTION NO. 2015-02 RESOLUTION AUTHORIZING EXECUTION OF A TAX INCREMENT PLEDGE AGREEMENT A. WHEREAS, on December 9, 2014, the City Council of the City of Plymouth, Minnesota (the "City") adopted Resolution No. 2014-366, entitled "Resolution Calling for Redemption of Certain Outstanding Bonds" (the "Call Resolution"). The Call Resolution authorizes the City to redeem the outstanding principal balance of the City's $1,370,000 General Obligation Tax Increment Bonds, Series 2005A, dated April 1, 2005 (the "Prior Bonds") of which $920,000 remains outstanding. B. WHEREAS, the Prior Bonds were issued by of the City for the purpose of providing money to pay public development costs attributable to certain improvements made by the City pursuant to a Development Agreement by and between the Authority and Shops at Plymouth Creek, L.L.C., dated as of February 1, 2005. The principal and interest on the Prior Bonds have been paid primarily from tax increments received by the Authority from Tax Increment Financing (Redevelopment) District No. 1- I (the "TIF District"), within Redevelopment Project Area No. 1, established by the City; and C. WHEREAS, on December 9, 2014, the City adopted Resolution No. 2014-390, entitled "Resolution Afithorizing an Interfund Loan for Refinancing of Certain Obligations Paid From Tax Increment Financing District No. 1-1" (the "Interfund Loan Resolution"), wherein the City established an interfund loan to utilize City funds to redeem the Prior Bonds and create a new obligation for the TIF District (the "Interfund Loan"); and D. WHEREAS, to provide Rinds sufficient for the timely payment of the Interfund Loan, it is necessary for the Authority and the City to execute a Tax Increment Pledge Agreement (the "Tax Increment Pledge Agreement") as provided herein. 68660560 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 Tax Increment Pledge Agreement on file in the office of the City Clerk is hereby approved in substantially the form submitted and the Chair and Executive Director of the Authority are authorized and directed to execute the same on behalf of the Authority. The approval hereby given to the Tax Increment Pledge Agreement includes approval of such additional details therein as may be necessary and appropriate and such modifications thereof, deletions therefrom and additions thereto as may be necessary and appropriate and approved by the City Attorney and by the Authority officials authorized herein to execute or accept, as the case may be, the Tax Increment Pledge Agreement prior to its execution; and the Authority officials are hereby authorized to approve any changes on behalf of the Authority. The motion for the adoption of the foregoing resolution was duly seconded by member and, after full discussion thereof and upon a vote being taken thereon, the following voted in favor thereof; and the following voted against the same: Whereupon the resolution was declared duly passed and adopted. 2 6866056v1 STATE OF MINNESOTA COUNTY OF HENNEPIN I, the undersigned, being the duly qualified and acting Executive Director of the Housing and Redevelopment Authority in and for the City of Plymouth, Minnesota, do hereby certify that I have carefully compared the attached and foregoing extract of minutes with the original minutes of a meeting of the Board of Commissioners held on the date therein indicated, which are on file and of record in my office, and the same is a full, true and complete transcript therefrom insofar as the same relates to a resolution authorizing execution of a Tax Increment Pledge Agreement. WITNESS my hand on January 2015, Executive Director 68660561 Agenda Number 3.1D PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY STAFF REPORT TO: Plymouth Housing and Redevelopment Authority FROM: Jim Barnes, Housing Program Manager through Steve Juetten, Executive Director MEETING DATE: January 22, 2015 SUBJECT: Plymouth Towne Square — Amend the 2015 Budget. BACKGROUND: In October of 2014, the HRA Board approved the budget for Plymouth Towne Square that included improvements to the building such as repairing the parking lot, replacing furniture and office equipment and the replacement of appliances. It is estimated these items will cost approximately $91,300 and the source of funds is the Replacement Reserve account. Staff is proposing that $11,300 come from the Plymouth Towne Square Replacement Reserve account and $80,000 come from excess tax increment from HRA Tax Increment Financing District 1-1 (Shops at Plymouth Creek). Staff intends on lowering the contribution to the replacement Reserve account by the $80,000 mentioned above and utilizing those funds for Economic Development. There is no financial impact to the HRA or Plymouth Towne Square's budget as a result of this change. RECOMMENDATION: Staff recommends that the Plymouth Housing and Redevelopment Authority Board of Commissioners approve the changes discussed above to the Plymouth Towne Square Budget for 2015. ATTACHMENTS: 1. Resolution PLYMOUTH HOUSING REDEVELOPMENT AUTHORITY HRA RESOLUTION NO. 2015-01 AMENDING THE 2015 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 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, the Authority adopted the original 2015 budget on October 23, 2014; and WHEREAS, the HRA Levy contribution to the building will be reduced by $60,000 and will now be $158,004; and WHEREAS, the Authority will utilize $60,000 from HRA Tax Increment Financing District 1-1 (Shops at Plymouth Creek) to pay for a portion of the estimated $91,300 in capital improvements to the building in 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 that it approves the above listed changes to the 2015 Plymouth Towne Square budget. 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 22"d day of January, 2015.