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HomeMy WebLinkAboutHousing & Redevelopment Authority Packet 10-16-1997AGENDA . PLYMOUTH HOUSING AND•REDEVELOPMENT AUTHORITY October l6, 1997 AT 7.00 P.M. Medicine Lake Conference Room, Plymouth (pity Hall 1. Call to Order 2. Approval of September 18, 1997 Minutes 3. Plymouth Towne Square: a. Monthly Housing Reports b. 1998 Operating Budget c. Award of a Contract to Install Soffit Ventilation, Replace Missing Fascia, Secure Remaining Fascia, and Re -install Clock Hand at Plymouth Towne Square 4. Recommendation to City Council Regarding Continued Participation in the Metropolitan Livable Communities Act Programs for 1998 S. Monitoring and Inspection Services for New Low Income Property Tax Classification 6. Other Business 7. Adjournment ai MINUTES PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY September 19,1997 PRESENT: Commissioners Pat Pelstring, Brad Brown, and Brian Helmken. ABSENT: Chair David Crane and Commissioner John Edson. STAFF PRESENT: HRA Supervisor Ed Goldsmith, Housing Technician Melissa Carnicelii, Senior Clerk/Typist Barb Peterson. OTHERS PRESENT: Mayor Joy Tierney, Council Member Ginny Black. A meeting of the Plymouth Housing and Redevelopment Authority was called to order by Board Secretary Pat Pelstring on September 19, 1997 at approximately 8:10 p.m. APPROVAL OF MINUTES MOTION by Commissioner Helmken, seconded by Commissioner Brown to recommend approval of the August 21, 1997 minutes Vote. 3 Ayes. MOTION ADOPTED UNANIMOUSLY. RESOLUTION AMENDING THE SECTION 8 ADMINISTRATIVE PLAN TO PERMIT EXCEPTIONS TO THE RESIDENC Y REQUIREMENT FOR SECTION 8 PORTABILITY (97-09) Melissa Carnicelli, Housing Technician, requested a change in the residency requirements for Section 8 certificate holders who request to use their certificates outside of Plymouth. Many clients have been unable to secure housing in Plymouth. Some reasons for this include a poor prior rental history, landlords are screening better now and vacancy ratis are extremely low. Plymouth now has seven apartment facilities that have reached their limit in Section 8 zlients. Commissioner Hehnken asked how many Section 8 units are in die city of Plymouth right now. Housing Technician Camicelli stated that there are approximately 200 and the vacancy rate is less than 20/a. Proposed rental developments such as Shenandoah Apartments may be able to alleviate the tight rental situation. Under HUD regulations clients initially have sixty days to find a unit to rent. They can be given two 30 day extensions for a maximum of 120 days to find a unit. At the end of this time if they haven't found a unit the certificate expires and is maissued to a new applicant. Persons receiving a Plymouth certificate must live in the City for a minimum of one year before they can. use their certificate outside of the City unless the HRA waives this requirement. Currently, the HRA's Section 8 Administrative Plan does not provide for any waiver of this requirement. Because of the difficulty that clients are having in finding units in Plymouth that have vacancies and will Plymouth Housing and Redevelopment Authority September 19, 1997 Page 30 accept Section S certificates, staff is proposing to amend the Administrative Plan to waive this requirement. If after 60 days they have not fou qd a unit and can demonstrate that this is not due to a poor credit, rental, or criminal history; and they have made a good faith effort to find a unit in Plymouth and staff determines that there are no suitable units available, the residency requirement would be waived to permit them to find a unit outside of the City before the certificate expires. It was requested that the proposed language be changed to include Wasonable effort as solely determined by HRA Staff' in place of "good faith effort". HRA Supervisor Goldsmith stated that Andrea Brennan, Professional Assistant, is working on landlord retention and recruitment and will be meeting with apartme, .nanagers in Plymouth to focus on increasing the number of apartments participating in the program. MOTION by Commissioner Pelstring, seconded by Commissioner Brown to move the resolution with the revised language. Vote 3 Ayes by roll call. RESOLUTION NO. 97-09 UNANIMOUSLY ADOPTED. Council Member Ginny Black stated she felt we need to try to keep low income residents in the city and suggested the Board review the policy at some future time. The review would be made after staff has had time to implement their landlord retention and recruitment efforts. MOTION by Commissioner Pelstring, seconded by Commissioner Helmken that this resolution by reviewed after a period of one year. MOTION UNANIMOUSLY ADOPTED BY VOICE VOTE. RESOLUTION AUTHORIZING SPONSORSHIP OF AN APPLICATION TO THE FEDERAL HOME LOAN BANK'S AFFORDABLE HOUSING PROGRAM TO OBTAIN FINANCIAL ASSISTANCE FOR OWNER-OCCUPANATS IN THE SHENANDOAH TOWNHOMES HOUSING IMPROVEMENT AREA (97-10) Housing Supervisor Goldsmith reviewed the status of the Housing Improvement Area This has been discussed with Franklin National Bank which is a member of the Federal Home Loan Bank. The application must be submitted by a member institution and can be sponsored by the HRA. A report will be prepareu for the City Council to gain their support for the application. Commissioner Pelstring asked how many people would take part in the program. Housing Supervisor Goldsmith replied that we are in the process of receiving applications from owners at the present time. I As of Oct. 9'", approximately 50 applications have been received out of a total of 219 units.l MOTION by Commissioner Helmken, seconded by Commissioner Brown to adopt Resolution 97-10 authorizing sponsorship of an application to the Federal Home Loan Bank Affordable Plymouth Housing and .Redevelopment Authority September 19, 1997 Page 31 Housing Program to obtain financial assistance for owner -occupants in the Shenandoah Townhomes Housing Improvement Area. Vote 3 A; es by roll call. RESOLUTION 97-10 UNANIMOUSLY ADOPTED. PLYMOUTH ECONOMIC DEVELOPMENT FUND GUIDELINES The Minnesota Department of Trade and Economic Development (DIED), which is providing the initial funding for Fund has advised the City that it cannot delegate loan approval to the HRA. The HRA can administer the program, but will need to include final action by the City Council in the loan approval process. The Guidelines will be modified by the City Council to reflect this change. This is only a report and no action needs to be taken by the HRA at this time. Council Member Black noted a correction on p. S of the Guidelines, under 1V. F. That there was a reference to the "HRA" that should be deleted in the second bullet. She also commented that she was going to speak with someone in her office about language that could be added to the Program Objectives and Criteria to promote assistance to environmentally related or consciousbusinesses. PLYMOUTH TOWNE SQUARE MONTHLY HOUSING REPORT Housing Supervisor Goldsmith gave an update on water infiltration into the building. Installation of Soffit vents have been approved by the state. They have gotten two bids and are in the process of getting another bid. We hope to get the problems corrected before winter. Mayor Tierney questioned the Lifetime Fitness fee for $95. This was negotiated by Plymouth Towne Square Manager Melody Burnham and is being utilized by some of the residents. The time to exercise the termination clause with Walker Management has expired. The management agreement will automatically renew for the same fee, with no changes. TRAILS PROGRAM ANNUAL REPORT Commissioner Pelstring inquired about the tenant escrows. As incomes of participants rise their rental assistance decreases. This could be a saving to -HUD, but rather than decreasing HUD's contribution it is held in escrow for participants to use for education, job training, employment related expenses, homeownership, car repairs, etc. Plymouth Housing and Redevelopment Authority September 19, 1997 Page 32 OTHER BUSINESS there was not any other business to be discussed. Meeting adjourned at 9:50 pm. WALKER MANAGEMENT, INC, MONTHL—V HOUSING REPORT 3 a This report is to be completed by the Housing Manager and submitted to, Janet Lindbo Chief Operating Officer aO."Viter Senior Services at 3737 Bryant Avenue South, MimmpoGa, Minnesota 55409, by the 10th of the moral w., owing the report month. COMMUNITY NAME: NUMBER OF UNITS: REPORT MONTH: PLYMOUTH TOWNE SQUARE 99 Independent Living Units O Assisted Living Units September 1997 ' Name of person completing this report Melody Burnham, Housing Manager OCCUPANCY A Total Number of apartments leased (including caretaker units) at beginning of month: 99 Total Number of apartments leased (including caretaker units) at end of month: 99 B. Occupancy Percent at end of month: 100% C. Attach Monthly Marketing Report for detailed information. D. Vacant apartment(s) for September: 0 Vacant apartment(s) for October. O E. Move-in's Anticipated for October. 0 F. Move Out anticipated for October: 0 U. FOOD SERVICE: Not Applicable III. RESIDENT SERVIOCS A Attach copy of report month's newsletter and activities calendar. B. Attach copy of report month's mantes from Resident Council Meeting. C. Resident Issues: Residents started petition for traffic problem City Councilmen Tim Bildsoe spoke at Resident Meeting Beauty Shop Prices will be raised 50th Reception for Niggelers Special Brunch Sept. 27 Arthritis Foundation speaker her Sept. 15 Church Service added 1st and 3rd Wednesdays IV. BURAWG AND GROUNDS ISSUES Put signs up on both driveways stating unauthorized cars will be towed Sump Pump purchased and installed in garage. Vandalisirn in'garage- all garage door openers recoded New carpeting installed in caretakers apartment Had caretaker apartment cupboards repaired Replaced two zone motors for apartment not heating V. HUMAN RESOURCES Started interviewing for full and part time caretaker positions JChoose best candidate for each position BUDGET CONTROL List any Account Receivables over one month past due and action taken: None One Tenant had NSF check returned letter was sent to her VII. COALS ACHIEVED TRIS REPORT MONTH (Sentember) Budgm submitted to Ed Goldsmith by September 3 Finished November recertification on time Planned Anniversary Reception Planned Halloween Party Attended MAHA Convention VIII. COALS FOR REPORT MONTH (October) Hold 3rd Anniversary Reception Start new employees Present 1998 budget to HRA Board Tour A Walker facilities Have going away party for April Give Halloween Party Is hl' 16 r , rtC)Wi Vol. IV. Issue No.9 September 1997 Jo, 01= 88d nat--Nk— F'kkb Sara .......•them DO 4, pit ag YOU 1 Iw 0o "6386 Pamllf 4% 16 041EMBER773C ro AM- ....... WAll z W i b., Yotarta a .alttYfYltt w. . . . . . .meq Vivt Fe" cb--9k F- , tlV-A.,P d" W ayi4. a Bess DoltRK CraAN as its 3,22 THE ADJACENT DOCUMENT WAS SUPPLIED BY AGENCY NAMED BELOW. DURING THE Dear Residents, September is here and we are looking forward to a few events that will be taking place here at PTS. The Anniversary Reception is being planned for October and also the Craft Sale. We are now in the process of looking for a FT Caretaker/Maintenance person, which is not an easy process. So bare with us through this challenging time. We will still be taking care of all the building needs as well your needs. We will do the very best we can to see that things stay as normal as possible. If you see us all pushing a vacuum cleaner or carrying a dust rag around. DON'T BE SURPRISEDI Also if you know of anyone who would be interested in the job, please let us know. You'll notice we have 2 new signs at the entrance of our driveways. The city put these signs up to let outsiders know their cars will be towed if they park in our lot and head across the streets If you see a car on the weekend or after hours, please get a description of the car and the license number and bring it down during office or call the non emergency number for the police. Thank you for your helpI I BEAUTY SHOP UPDATE - This is to inform you that the rates in the Beauty Shop will be raised as of September 1 st. WELCOME TO OUR NEWEST TENANT , Constance Livermore. She will be living in apartment 319. Please make her feel welcome, you know how important friends are. GET TOGETHER - Will start up again the 2nd Tuesday of each/ I' month. The first one will be a Pot Luck, held on September 10th. There will be a sign up sheet on the board by the office. Mary Miller will be in charge, if you would like to be on the committee, please let Mary know. dP dPd d dP dpb d K dPd d k fpd lPb 6od 6 fP September 1 Sth. at 1:00 a representative from the Arthritis Foundation will be here to speak on Living With Arthritis" There will be a short talk and then a video in the Activities Room. WWrrtrrrrrr HAppi"Ces iH the olber Hears of life. like the happiness i» everti Hear of life. is a "Atter of choice - Hour choice for Hourself. M&ro* Axim WEDNESDAY CHURCH SERVICE will begin September 3rd at 10:00 a.m. and will meet in the 3rd floor Meeting Room. It will be held on the 1st and 3rd Wednesday of the month. It is sponsored by Holy Name and is a Ecumenical Service. ALL ARE WELCOME. IF YOU HAVE ANY :IDEAS ::FOR A SERVICE PROJECT FOR CH71iISTMAS 0.9 THANKSGIVING, LET JOYCE McCAUGHEY KNOW. CRAFT SALE MEETING will be September 9th at the 1:00 in the Activities Room. The Crafters are in the process of making favors for our Anniversary Reception and for our Holiday Dinner. They are always in need of people to help them. Come and join in! FIRS ANNUAL PTS CRAFT SALE - to be held Saturday, October 18th, from 9-3:00. This sale will be open to the public and is sponsored by the residents of PTS. We are renting tables and have a few left, if you know anyone who is interested. There will Coffee and Rolls in the morning and Sloppy Joes for a light lunch to purchase. If you are willing to donate any food item for this, please watch for the sign up sheet by the office. The proceeds from this sale will go towards a Catered Holiday Dinner. MARK VOVR CALENDARS PTS MWIV£RSARV RECEPTION We will be celebrati"s PTS's 3rb A"H1vers2 TNesba,4 HiSht October 14tk at 6:30 p."I. There will be special MUM, c017ee aHb bco6c". A NEW VEHICLE FOR SENIORS AND PERSONS WITH DISABILITIES SET TO ARRIVE. Plymouth Metrolink has been awarded a transit vehicle through the federal Section 531 U funding program that will be used for service to elderly and persons with disabilities. The vehicle is scheduled to be delivered in September or October. The awarding of this vehicle was accomplished through a competitive application process administered by mandate. Special transportation programs and Dial -A -Rice services, designed to enhince the mobility of elderly and persons with disabilities, are currently being developed in conjunction with area human services providers, the City of Plymouth and organizations in the City serving elderly and person with disabilities. SPECIAL BRUNCH, SEPTEMBER 27TH, FROM 9.39-11:30, TICKETS S3: S0. "' FROM THE CITY OF PLYMOUTH - "National Night Out was a tremendous evening: Each year we in Public Safety are deeply touched by the rich pride and generosity that are alive and well in our City. Your support in Plymouth's first ever National Night Out Food Drive raised over 1400 pounds in donated food and back to school supplied". ONCE AGAIN RESIDENTS. GREAT JOB!!!!! THE SLIPPER AND THE .RO 'E -.1976 Musical version of Cinderella. Lots of sitlging--aui dancing. Richard Chamberlain. HIGH ROAD TO CHINL ""Heiress (Bess Armstrong) hires slovenly WWI flying, ice (Tom Sc" %) to help locate her missing dad.:.. ' THE LAST VALLEYf - at the end of the 30 years war, a band of 4 warriors goes into a peaceful Val ley, that has entirely avoided bloody conflict. Great scenery. Michael Caine and Omar Shariff. SENTIMENTAL JOURI IEY't#J.:984 version with Tony Martin aaeoaaa+eaaaeeaaoeaeaeeoaeeeee+eooee++oeeeooe+eaeaeaaaeo+eeeeaoeae IUUUUUUUUUUIIUUIIUUUUUUUUUUUUUUU1dIUUUUUUUUUUUUUUIIUUUUUUIIUUUUUUUUUUUUI SEPTEMBER BIRTHDAYS Catherine Myhre September 2 Apt. 305 Lu Christensen September 16 Apt. 329 Delores Kukar September 16 Apt. 116 Harold DuChene September 20 Apt. 105 Earl Skay September 20 Apt. 112 Russ Smith September 23 Apt. 214 Lee Smoots September 27 Apt. 208 GUESS WHO?????? This is the 8th grade class of 193 -I. from 'NI. Anne*s C.11 Church on 20th Axe. No. There are txxo PTS Residents in this class picture. One: i; a male ani the other a female. (it iF.SS BVI IO "I'I II:Y AIZI:*) WATCH HIL IO Tl EITIN IMARI) FOR I'l 11:1 ANSWERS ON SET'I'VIMBFIR i 11. September .1997 Monthly Planner Printed by Calendar Creator Phos on 8129197 1 2 3 4 5 6 LABOR DAY OFFICE CLOSED 10:00 AM Man CWDR) 1:00 PM Crafts (AR) 1:00 PM Storytime (DR) 7:00 AM M%-% Dairy 10.90 AM CREW& Soviet 1000 AM Eseatiie 1:00 PM Srhsrsnl(DR) 790 PN BmSo 1000 AM CaOa(DR) 100 PM Aa Gama (AR) 1000 AM Ensdse I0.00,AM Niggelers 50th (brealcfest) 1 OO PM GAMES 790 PM Movie Madors 7 8 9 10 11 12 13 9:00 AM Church Service i000 AM Exercise 700 PM Goys 10:00 AM Mms CUKDR) 1:00 PM Craft meeting AR I00 PM CsaOa (AR) 7:00 AM Msyals Wiry ROM AM Exercise 5:70 PM Get Together 10:00 AM Coffee(DR) 1:00 PM Aa Gass (AR) 100 PM Residem Cancil Mtg. 1000 AM Exodse 1:00 PM OAMES Ift 700 PM Movie Mndnen 700 PM 1&1d- 14 15 16 17 18 19- 1.20 9:00 AM Church Service 9:00 AM Welluest clinic 1000 AM Esaeiss 1: 0PMOLiving with 10:00 AM Mars CWDR) 100 PM Calls (AR) 1:00 PM S(orytime (DR). 700 AM MeyefY Wiry 1000 AM C(sadl Service RoOo AM R) IMPM 1000 AM Coffee(DR) 100 PM Aa Games (AR) ROOD AM Exercise 100 PM GAMES 7:00 RIM Movie 7:00 FM Boyer 700 PM Bisyo 21 22-. 23 .24 25 26 27 9 00 AM Church Service 1000 AM FAwdo 7:00 PM Ringo 0:00 AM Man Ch&MR) 100 IM CaOC (AR) 700 AM Meyft Dairy 100 PM-Ast Oa (AR) ROM AM Fmw+e 9:30 AM - 11:00 AM ROM AM Exercise 1:00 PM Raftlent Mtg. 100 PM GAMES Specid Brunch I(DR) fft 700 PM Movie 700 PM Boyo Madsaa f i,30100 [Ra 1 No AM Coffee 30 10.90 AM Mess Ch16(DRj 100 PM l7raas (AR) 28 9 00 AM Church service 29 p pp m( 700 PM Boyo 700 PM Sing Along DR) Gmea S'MT WT F S S MT WT F S 10 n i— s u u s s e— s— TW ie I1 1a It ret 21 a a a 1 1e rs 1a n n asaaa1 19 ms.aaaaaa s1 ssaaaron Printed by Calendar Creator Phos on 8129197 RESIDENT COUNCIL SEPTEMBER 11, 1997 MEMBERS PRESENT - Barbara Buchholz, Mary Disch, Dorris Whyte, Bettie Allison, Duchene, Lillian Niggeler, Lee Smoots, and Kathy Boesen. Barbara Buchholz call the meeting to order. There was no Old Business. NEW BUSINESS The Pot Luck Get Together made $44. Tickets will remain $4.00. The council decided there will not be a Get Together in October or December. The council will check into ordering chow mein possibly for November. Having the PTS calendar larger for residents to see was discussed. It was already done. Als that anything done on colored paper was hard to read. I will work on that! SUGGESTION BOX - It was suggested if PTS could purchase a Electric Roaster to keep sloppy joes, etc. hot. The council voted to purchase one. It was suggested that at the Resident Meeting while reading the birthday names, that we hold our applause until all the names are read. The fact that the HOLIDAY PARTY, cannot be called a Christmas Party, is very disturbing to many of our resident. WASHING MACHINES - where does the money go? PTS ownes the machines and al! the money goes into it's Operating Fund. First floor middle washer, does not spin dry enough. Second floor (E) does not wash long enough. Would be nice to be able to dry clothes for a shorter time and not pay 75 cents. The people who use the puzzle room would like to have another top for the puzzle table. We will check with Melody to see what the cost of the last one was. It was discussed that it would be nice to have a Whirlpool or a hot tub and could put. in the first floor middle laundry room! A pig roast was discussed. Men's club would like to purchase a new can crusher. The council voted yes! It was brought up that the drains in some of the laundry rooms smell. Especially the one on 2 East. It was voted yes to let Ruth Clark purchase 40 notebooks for the Hymn. It was discussed that it is still very dark outside of apartment 124. Even though the city does not feel this is a problem, it is very disturbing to several residents. Lillian and Howard have volunteered to make Tuesday coffee. Margaret Pearson has volunteered to clean up. The meeting was closed. MONTHLY OCCUPANCY REPORT PLYMOUTH TOWNE SQUARE September 1997 1997 JAN FEB MAR APR MAY JUN JUL AUG SEP ocr NOMI JEC TMAL TEVG: m/lones I 0 0 S 4 4 1 0 18 r.t ,« els!. RYATIONS: 1ed 1 2 3 8 S 3 4 6 0 34L6tTotal314314316316230242249249NA APARThSO i1'S: Reserved 1 0 0 0 0 0 1 1 0 NA Cwwdled 1 1 0 0 0 0 1 0 0 j NA To Be Leased 1 1 0 0 ol 0 l 1 0 NA B e 96 96 96 96 961 96 96 96 96 NA BNede 96 97 97 97 971 97 97 97 97 NA Lensed• 96 97 97 97 971 97 97 97 97 NA Cwdakw 2 2 2 21 21 2 2 2 1 NA Total le 6x11 99 99 99 99 99 99 99 99 99 gg . a 4M excludes caretaker apartments/garage spaces I MEMORANDUM TO: ANNE HURLBURT ED GOLDSMITH FR.: Donpa Flanta, Regional Director of Operations/mab Date: October 1997 RE: PTS Monthly Report for August 1997 Monthly Financial: August Financial Statements (see attached). Guest Room Rentals - Guest room was rented for 9 days Laufiry - this reflects timing on emptying the machines Housekeeping/Supphes - reflects buying light bulbs PO/Apt rehabilitation - indicates not move outs this month PO/Purchased Serv. - reflects two month bilgng for landscaper PO/Repairs & Main - reflects inside patching and painting repairs for winter ice jam damage POiTrash - reflects extra recyle pick up for used lightbulbs GA/Advertising - reflects advertising for caretaker.positions GA/Auto - reflects extra trips to Corporate for budget preparation GA/Special Events - reflects lunch for staff GAtTelephone - reflects purchase of a celular phone for on-call person Occupancy/Marketing: 97 units leased plus 2 caretakers. August Housing Report: includes August Resident Newsletter Plant Operations: Berwald Roofing replaced shingled damaged which occured during removal of ice jams Walker did Maintenance tour of building Owens worked on Air Conditioner leak in East stairway Had Fire Extinguishers checked Full-time caretakers gave two week notice Resident Services: Participated in National Night Out had rootbeer floats Purchased card holders for playing cards Started planning Craft Sale Discontinued Food Bank Purchased refrigerator for Activity Room Served Popcorn and Lemonade on porch to Residents Petition started by residents for stop light at 37th and Plymouth Blvd. If you have any questions, please contact me at 827-5363 CC: Janet Lindbo, Melody Burnham Plymouth Towne &pare Cade Flow Anslyels Ew MOMS; Eetdad August 01,1887 YM YTD Annual Rsvmuec Actual Budaet Variance Budaet A, tallnoome 0510863 0514,220 04724 0771.840htvytrnadhm Told Revenues 17988 14.828 3.088 21.788 1638948 1s2 IN 07.792 5783.428 Eqmsn AdMbas and ResNerd Swvlm 1.848 1.920 274) 3.485 Plydd O tors a Mehdaumes 46.E 40189 2.194- 8,134 18,89t1 61.391Meal Pr°Perba Related 31,594 21,657 42,ee0 22459 t1.2ee) 9m1 W., 60,400 Ga wel a Ad drd ve TefafoperalhtgEspenys 87.528 178689 69.792 R 169,380 10,771) 280988 EMbefore Dapeciallm Anw ion 380358 339,797 18,563 512440 Depsdadon and AnorUzedon Egmmm 14,050 148.565 x4651 223.122 hteertr / (Loss) Balers blond 210,260 191,232 19,048 289,318 bdefeY Etp- 213.370 213.376 81 318.740 Not tltoolrle %a" 144 19 064 A4usbnwft to Cash Flow: Dapeciollon AnoftOm 0138,684 0137,365 1481: 208.322 Dap. Ow.) In Receivables 71'1M 11' 200 16,784 Dap. (Ing.) to Prepaitls 1') 11 0 0NPhw. In P 8 Awned E*wmn 799 0 r,4AopuedRealEsleletexas14.965 14.283 602 21.603AccruedIrmmoo Real Estab Tex P"nont 213,370 21,512) 0 21.603) 213,370 P1 0 G Lem) Capllellmprovemwes 4.140) 21.500) 17.360 7 UmfnmtM 0rgmimm coats 0 o n oFund DepyBs to Dahl San4ce .PFwdti dpd 0 OD.W% 17.000 60.000) 17, 0 iyi.502) Depotlb to Debt Sallee Funddmarat 213,370) 0 213,370) 0DshtServiceFurd4nlweatIneam17.433) 14,336) 3.095) 20.679) 0 62111 18.539) 306 R4.BB'9 542881 545.868 33,207) 079.350 hump P ktnm=j In Cash 039,571 523.724 315,847 549,928 Cash Balance. Be8lmdtq or Tyr 3125.349 3125.349 00 3125.349 Cash Balance, August 31,1807 S 1911149.072 015.847 175,277 l PLTHWH TaWE SWAGE BALANCE SNEEI Aug 31 97 UNAUDITED ASSETS CURRENT BALANCE NET OWN 812/31/96 CHANGE CURRENT ASSETS: PETTYPETTY CASH CRECNING OPERATIONS 1,000.00 1,000.00 0.00SAVINGS - SECURITY DEPOSITS 131,771.58 93,563.29 38.208.29ACCa1MTSRECEIVABLE-TENANTS 32,147.84 30,785.43 1,362.41ACCOUNTSRECEIVABLE-OTNEA 462•00 256.00 206,00INTERESTRECEIVABLEs9s•so 902.95 307.45) PREPAID INSURANCE - GENERAL 0.001.54 0.00 0,001.54PREPAIDEXPENSE - OTHER 2.693.32 572.41 2.320.91 TOTAL CURRENT ASSETS 642.08 994.40 352.32) PROPERTY, PLANT, AMD EQgPMENT: LAIC - 177,513.86 128,074.48 49,439.38 BUILDINGS 6 IIQROVMNTS 459,247.00 459,247.00 0.00LANDIMPROVEMENTS5,613,912.23 S,613.912.23 0,0DI= 6.EQUIP - GENERAL 48.543.00 46,543.00 0.00EQUIPMENT - COMPUUIER 157,427.54 153,287.54 4,140.00URN6EQUIP,- UmUMUEPINB 1,834.30 1.834.30 0.00LESSAC6i"TED DEPRECIATION 1,015.15 1,015.15 0,00579,707.41) 442,823.07) 136,806.34) TOTAL PROPERTY, PLANT, 6 EQUIPMENT 5.702,271.81 S,835.016.15 132,744.34) OTYER ASSETS: INVESTMENTS-CONSTRUCTION RAM INVESTMENTS-DEBT SERVICE Wm 40.000.00 0.00 40,000.00INIQSTNENTS-GPITAL INP. 665.191.52 639.753-3? 25,438.15UNANORTf2EDSTART-UP COSTS 120,615.21 47,068.59 73,566.62WIAIR18TIZEDORGANIZATIONLOTS2.930.15 2,930.15 0.00 LESS ACK LATED AMORTIZATION 155,166.56 155,.166.56 0.00 36.343.35) 11,195.79) TOTAL OTHER ASSETS 47.539.14) 936,364.30 BON,555.32 127;868.98TOTALASSETS 6,816,149.97 6,771,645.95 46.SO4.02 sesaaesaeesass esiaseasassaas sesaaauaaoses l 4 CIRRENT NONTN eantlmed) ........... LIABILITIES AND FUND BALANCE CURRENT LIABILITIES: ACCOUNTS PAYABLE ACCRUED SALARIES AM UAGES ACCIRIED INTEREST ACtlNED REAL ESTATE TARES ACCRUED EXPENSES CURRENT MATURITIES • LONG TERN SECURITT/NAIT LIST DEPOSITS TOTAL OMENT LIABILITIES LONG TERN DEBT: BONDS PAYABLE TOTAL LONG TERN DEBT I= BALANCE: CONTRIBUTED CAPITAL PARTNERS' DEFICIT NET INCOME (LOSS) TOTAL I= 'BALANCE TOTAL LIABILITIES 8 FARAD BALANCE BALANCE NET 912/31/96 CHANGE 13,837.03 9,833.52 4,003.51 6,842.58 6,507.40 335.18 133,356.25 80.013.75 53,342.50 14,818.66 21,365.33 6,546.67) S97.42 5,576.90 4,979.48) 90,000.00 90;000.00 0.00 31,103.34 29,663.86 1,439.48 290,555.28 242.960.76 47,594.52 5,525,000.00 5,525,000.00 0,00 5,525,000.00 5,525,000.00 0.00 1,000,000.00 1,000,000.00 0.00 3,6BS.19 3,685.19 0.00 3;090.50) 0.00 3,010.50) 1,000,594.69 1,003,685..19 3,010.50) 6,816,149.97 CLfiRCsaaRCC 6,771,64S.9S eaos---------- ..... 4A,SO4.02 REVENUE: APARTMENT REIT IRA INDIVIDUAL SUBSIDY VACANCY -CARETAKER VACANCT FACTOR • APARTMEN VACANCY FACTOR SIDSIDV VACANCY - CARETAKER GARAO GARAGE RENTAL BEAUTY SHOP REST GUEST SODI RENTALS LAUNDRY NISCELLANEOUS INVESTMENT INCOME TOTAL REVENUES ERPESQS: RESIDENT SERvICEs: NISCELLANE011R RESIDENT PROGRANS SUPPLIES - SEVERAL TOTAL RESIDENT SVCS HOUSEKEEPING: SALARIES BENEFITS PURCN. sm-usa REPAIRS AMD NAINTENABCE SUPPLIES - GENERAL TOTAL NQUEIOIEPING PLVNDITS TOM 50WIRE STATEMENT OF EARNINGS 8 MONTHS EIDER Aug 31 97 UNAUDITED CURRENT VAR. N TIP TIM, POINTS BUDGET VARIANCE OF RID. ACTUAL BUDGET '.ARIANIi 42,625.00 42,625.00 0.00 20.605.00 20,685.00 0.00 1,275.00• 1,275.00- 0.00 255.00 358.33- 613.33 389.00- 175.00• 214.00- 50.00- 50.00- 0.00 1.725.00 1,725.00 0.00 125.00 125.00 0.00 315.00 175.00 140.00 1,008.10 850.00 158.10 0.00 20.00 20.00- 4,228.16 2,093.00 2.135.16 69.252.26 66,439.67 2,812.59 0.00 341,000.00 341,000.00 0.00 0.00 165,480.00 165.480.00 0.00 0.00 10,200:00- 10,200.00- 0.00 171.16 4,302.00 2,866.61- 7.16B.64 122.29 4,768.00- 1,400.00- 3.368.00- 0.00 400.00- 400.00- 0.00 0.00 13,800.00 13,000.00 0.00 0.00 1,000.00 1,000.00 0.00 60.00 1,610.00 Do 805.00 18.60 6,978.0 6,!00.00 178.80 100.00 150.00 210.00 60.00- 102.01 17,905.63 14.928.00 3,067.63 4.23 536,948.43 529,156.36 7.792.07 VAR.% JADARY IM. OF BUD. DECREER 1987 BUDGET--- 0.00 UDGET• - 0.00 511.500.00 0.00 218.220.00 0.00 15.300.00- 250.07 4,300.00- 240.57 2,100.00- 0.80 600.00- 0.00 20.700.00 0.00 1,500.00 100.00 1.505.00 2.63 10.200.00 26.57 315.00 20.53 21.788.00 1.47 793,428.00 36.06 71,18 20.00 100.00 16.01 80.20 138.91 160.00 21.00- 13.18 2i5.00 68:K 00 .00 28.82• 26.66• 28.82 833.82 1,000.00 166.18• 16.62 1,745.0028.06 672.95 760.00 87.00- 11.45 1500.00 175.56 215.00 39.44- 18.34 1,615.66 1,920.00 274.32- 14.29 3.485.00 537.49 80.62 656.00 144.00 118.51- 18:07 5,582.71 6,428.00 845.29• 13.15 9,746.00 0.00 0.00 67.J8• 44.01 936.26 1,412.00 475:15• 33.6S 2,452.00 0.00 0.00 0.00 0.00 0.00 1,932.98 2,400.00 467.02- 19.16 4,200.00 112.39 150.00 262.39 0.00 174.93 0.00 150.00 150.00- 100.00 1,488.24 1,750.00 261.76• 11.96 2,350.00 1.030.50 950.00 80.50 8.47 9,940.78 12.140.00 2,199.22• 18.12 18,698.00 CURRENT VAR. X YTD YTD VAR.X JANUARY 1997- NONTN BUX ET VARIANCE OF BID. ACTUAL WIDGET VARIANCE OF SID. DEcD=2 1997 Tcantinlad) BUDGET... PLANT OPERATIONS AND MAINTENANCE. SALARIES BENEFITS 576.91 701.00 124.09- 17.70 2,894.94 3,857.00 962,06_ APT. REHABILITATION 86.55 0.00 154.00 150.00 67.45- 43.80 473.90 047.00 373.f0 - CARETAKER ALLOWANCES 50.00 50.00 150.00- 0.00 100.00 0.00 29.00 1,200.00 1,171.00 - PURC1. SVCS -BLDG 3,722.11 1,875600 1,847.11 98.S1 33S.17 19,390.18 400.00 19,460.00 64.83- REPAIRS 8 NRINT. 4,260641 825.00 3,435.41 416.41 14,055.19 5.775.00 69,82. 8,280.19SUPPLIES - GENERAL TRASN ROWAL 364.89 300.00 64.89 21.63 2,223.20 3.000.00 776.BD- NISCELLAWOUS 727.46 0.00 575.00 152.48 26.52 4,661.83 4,850.00 16B.17- 50.00 50.00• 100.00 2,239.ST 800.80 1,439.51 TOTAL PLANT OPERATIONS 9,788.35 4,680.00 5,108.35 109.15 46,322.92 40,189.00 6.133.92 UTILITIES: UTILITIES-ELEC. 2,158.35 2,200.00 41.65- 1.89 12,515.36 13,800.00 1,284.66- UTILITES-GRSMIL UTILITIES -INTER 439.27 600.00 160.73- 26.79 13,350A9 21,360.00 8,009.01 - 944.09 1,000.00 S5.91- 5.59 5,727.22 7,700.00 1,972.78- TOTAL UTILITES 3,541.71 3,800.00 258.29- 6.80 31.593.55 42,860.00 11,266.45 - PROPERTY AND RELATEO: AMORTIZATION 1.399.47 1,400.00 0.53- 0.04 11,195.79 11,200.00 4.21 - DEPRECIATION 17,132.11 17,229.00 96.09- 0.56 136,884.34 137,365.00 480.66 - INTEREST EXPENSE 26.671.25 26,672.30 C.IS- 0.00 213,370.00 213.376.00 6.00- INIURANCE-PSOPERTY 766.11 1,031.00 264.89- 25.69 6,591.56 8,176.00 1,SB4.i4- REAL ESTATE TAXES 1,866.79 1,863.00 3.79 0.20 14,965.18 14,283.00 662.18BONDFEES0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL PROPERTY 8 REL. 47,835.73 48,195.00 359.27- 0.75 383,006.87 384,400.00 1,393'.13- 24.94 5,925.00 44.05 1,301.00 97.58 1,800.00 16.21 600.00 0.36 30,215.00 143.38 .8,500.00 25.89 4,500.00 3.47 7,150.00 179.94 1,400..90 1s.26 61,391.00 9.31 21,500.00 37.50 27,000.00 25.62 11,900.00 26.29 60.400.00 0.04 16,800.00 0.35 206,322.00 0.00 318,740.00 19.38 12,396.00 4.78 21,603.00 0.00 0.00 0.36 575,861.00 eantimsed) SEVERAL AID ADMINISTRATIVE: SALARIES -NOR SALARIES -ADMIX BENEFITS WORKER'S CORP ADVERTISING -PERS. AUDIT B ACCOUNTING AUTO AND TRAVEL COPIER LEASE BANK SERVICE CUM COURIER SERVICE DIES B SUBSCRIPT. TAX PREPARATION FEES INTEREST -SEC. DEP. WORKER'S CORP. CLAIMS LEGAL LICENSES Aro PERMITS MANAGEMENT FEES INSURANCE GENERAL MEETINGS S SEMINARS POSTAGE PRINTED COONRICATIONS PURCR SERVICES LEAD BANK - DATA INPUT REPAIRS 6 MAIM. SPECIAL EVENTS SUPPLIES TELEP" MISCELLANEOUS TOTAL GENERAL S ADMIN. TOTAL OPERATING EXPENSES EARNINGS (LOSS) CURRENT VAN. Y YTD MTN BUDGET VARIANCE OF BUD. ACTUAL 1,744.41 1,404.00 340.41 1,356.25 1,263.00 93.25 465.09 587.00 121.91- 0.00 0.00 0.00 544.85 33.33 511.52 0.00 0.00 0.00 80.70 50.00 30.70 0.00 0.00 0.00 0.00 0.00 0.00 14.00 25.00 11.00- 0.00 0.00 0.00 0.00 0.00 0.00 77.33 75.00 2.33 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.251.21 3.217.00 34.21 0.00 0.00 0.00 0.00 600.00 600.00- 21.49 Ss.00 33.51- 2.73 60.00 57.27- 10 117.00 72.90- 0.00 0.00 0.00 D:oD 0.00 0.00 18.37 0.00 18.37 75.37 100.00 24.63• 6n8.09 450.00 158.09 34.66 50.00 15.36- 8,336.63 8,086.33 252.30 70,710.48 65,926.33 4,784.15 1,458.22• sawauwsw 513.34 asaaawasu 1,971.56- ataawawaw I TTO VAB.K JABNART TOP? - BUDGET VARIANCE OF OUR. DECEMBER 1997 BLDGET... 24.25 13,138.59 . 12,193.00 945.59 7.38 10,188.60 11,283.00 1.094.40- 20.77 3,887.04 5,164.00 1.276.96- 0.00 0.00 0.00 0.00 a•„• 1.059.85 PA6.64 793.21 0.00 4,000.00 4,200.00 200.00- 61.40 339.41 400.00 60.59- 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 14.00 163.SS 200.00 36.45- 0.00 1,108.80 1,118.00 9.20- 0.00 0.00 0.00 0.00 3.11 599.74 600.00 0.26- 0.00 z83.29 0.00 283.29 0.00 0.00 0.00 0.00 0.00 20.00 50.00 30.00- 1.06 25,947.66 25,711.00 236.66 0.00 0.00 0.00 0.00 100.00 445.00 1,100.00 655.00- 60.93 631.20 790.00 258.80- 95.45 512.84 480.00 32.85 62.31 512.91 1,276.00 763.09- 0.00 0.00 0.00 0.00 0.00 170.00 100.00 70.00 0.00 57.24 60.00 2.76- 24.63 690.86 800.80 1010.14- 35.13 3,573.3 3,600.00 26.17- 30.72 298.72 400.00 101.28- 3.12 67,529.13 69,191.64 2,262.si- 7.26 540,038.93 551.300.6t tl,ibt.71• 386.07 awaw 3,WO.SO- uwasuuw 22,144.28• aswwaasaw 19,033.78 aascaauww 7.76 18.s11.00 9.70 17.462.00 26.73 7.914.00 0.00 0.00 297.48 400.00 4.76 4,200.00 15.15 600.00 0.00' 0.00 0.00 0.00 18.23 300.0 0.82 1.138.00 0.00 0.00 0.06 900.00 0.00 0.00 0.00 0.00 60.00 675.00 0.92 3B.S8z.00 0.00 0.00 59.ss 1,200.00 32.76 1.074.00 6.84 720.00 sl,.80 1.89.00 0.00 0.00 10.00 100.00 4.60 300.00 13.64 1.200.00 0.73 5,400.00 25.8 600.00 3.24 103.015.00 2.04 na'as0.00 86.06 29.422.00- aawaa .== ==a i 11 DATE: October 9,1997 for Housing and Redevelopment Authority Meeting of ,ctober 16,1997 e& TO: Anne W. Mburt, Executive Director FROM: Edward J. Goldsmith, HRA Supervisor SUBJECT: 1998 Operating Budget for Plymouth Towne Square I have reviewed the budget for Plymouth Towne Square originally submitted by Walker Management, Inc. for the operation of the property for January 1, 1998 through December 31, 1999, including the estimated actual expenditures for 1997. Atter discussions with Melody Burnham of Walker Management, the attached operating budget is ready for review and approval by the HRA Board in accordance with Section 7.03 of the Property Management Agreement for Plymouth Towne Square. The proposed budget for 1998 includes the first rent increase since Towne Square opened in October of 1994. The increase is a modest 2.5% increase of the maximum rents. For 95% of the tenants this increase will be totally paid from the HRA subsidy. This results in a 50/6 increase in the HRA subsidy. Total subsidy payments are consistent with the HRA General Fund Budget for 1998, that was previously adopted by the Board. Effective January I, 1998, five tenants who will be paying maximum rents will be the only tenants directly affected by the rent increase. Per previous discussions with the Board, a number of items were reviewed as part of the 1998 budget submission. Adjustments have been made in the Housekeeping and Plant Operations/Maintenance areas to assure adequate maintenance of the property that resulted in a net 9'/o increase in the budget for these expenditures. Replacement Reserves were increased by $5,015 (20%) to assure adequate reserves for future improvements. Gross revenues for 1997 are projected as t% higher than budgeted. Gross revenues for 1998 are budgeted as 2% higher than projected for 1997. Total estimated operating expenses for 1997 are projected at 1% above the 1997 budget. Total budgeted operating expenses for 1998 are less than 1% below the 1997 budget. Although cash surpluses of $70,399 and $53,167 are projected for 1997 and 1998, respectively, modest deficits of $7,800 and $3,307 are projected for 1997 and 1998 as a result of non-cash charges to the budget. Based upon a previous discussion with the Boated, the Board may want to discuss eliminating these deficits by lengthening the building's depreciation schedule. Additional discussion of the budget is included in the attached Budget Assumptions document. 1 recommend that the HRA Board approve the attached 1998 Operating Budget for Plymouth Towne Square, including a 2.5% increase in maximum rents effective January 1,1998. Attachments: 1. Plymouth Towne Square 1998 Operating Budget 2. Budget Assumptions for Proposed Budget V. f;CIx1GORPI:1QvlouTH L' e' d..• AL• 'Uti 0UT".,BQULEVARD,•PLYMQUTH,MN 4540'x" „., F DATE: October 9,1997 for Housing and Redevelopment Authority Meeting of ,ctober 16,1997 e& TO: Anne W. Mburt, Executive Director FROM: Edward J. Goldsmith, HRA Supervisor SUBJECT: 1998 Operating Budget for Plymouth Towne Square I have reviewed the budget for Plymouth Towne Square originally submitted by Walker Management, Inc. for the operation of the property for January 1, 1998 through December 31, 1999, including the estimated actual expenditures for 1997. Atter discussions with Melody Burnham of Walker Management, the attached operating budget is ready for review and approval by the HRA Board in accordance with Section 7.03 of the Property Management Agreement for Plymouth Towne Square. The proposed budget for 1998 includes the first rent increase since Towne Square opened in October of 1994. The increase is a modest 2.5% increase of the maximum rents. For 95% of the tenants this increase will be totally paid from the HRA subsidy. This results in a 50/6 increase in the HRA subsidy. Total subsidy payments are consistent with the HRA General Fund Budget for 1998, that was previously adopted by the Board. Effective January I, 1998, five tenants who will be paying maximum rents will be the only tenants directly affected by the rent increase. Per previous discussions with the Board, a number of items were reviewed as part of the 1998 budget submission. Adjustments have been made in the Housekeeping and Plant Operations/Maintenance areas to assure adequate maintenance of the property that resulted in a net 9'/o increase in the budget for these expenditures. Replacement Reserves were increased by $5,015 (20%) to assure adequate reserves for future improvements. Gross revenues for 1997 are projected as t% higher than budgeted. Gross revenues for 1998 are budgeted as 2% higher than projected for 1997. Total estimated operating expenses for 1997 are projected at 1% above the 1997 budget. Total budgeted operating expenses for 1998 are less than 1% below the 1997 budget. Although cash surpluses of $70,399 and $53,167 are projected for 1997 and 1998, respectively, modest deficits of $7,800 and $3,307 are projected for 1997 and 1998 as a result of non-cash charges to the budget. Based upon a previous discussion with the Boated, the Board may want to discuss eliminating these deficits by lengthening the building's depreciation schedule. Additional discussion of the budget is included in the attached Budget Assumptions document. 1 recommend that the HRA Board approve the attached 1998 Operating Budget for Plymouth Towne Square, including a 2.5% increase in maximum rents effective January 1,1998. Attachments: 1. Plymouth Towne Square 1998 Operating Budget 2. Budget Assumptions for Proposed Budget 10107W PLYMOUTH TOWNE SQUARE OPERATING BUDGET FYE 12131/98 REVENUES: RESIDENT RENTS VACANCY FACTOR - RESIDENT REN SUBSIDY PAYMENT VACANCY FACTOR - SUBSIDY PVMT CARETAKER APARTMENTS BEAUTY SHOP RENTAL GARAGE CARETAKER GARAGES GUEST ROOM LAUNDRY INCOME INVESTMENT INCOME MISC. INCOME GROSS REVENUES: ESTIMATED PROPOSED ACTUAL BUDGET BUDGET FYE 12131/97 FYE 12/31/07 FYE 12/31/98 5511,500 511,500 517,176 8,722 4,300) 4,192) 248,200 248,220 281,528 7,054) 2,100) 2,227) 15,300) 15,300) 15,684) 1,500 1,500 1,500 20,700 20,700 20,700 800) 600) 600) 2,205 1,505 1,715 9,900 10,200 10,200 25,000 21,788 26,829 315 315 390 8803,088 $793,428 $817,135 OPERATING EXPENSES: ACTIVITIES AND RESIDENT SERVICES: RESIDENT PROGRAMS 6 SEMINARS 1,745 1,745 1,813 SUPPLIES - GENERAL 1,500 1,500 1,580 MISCELLANEOUS 240 240 240 TOTAL ACTMTIESIRESIDENTSERVICES 3,485 3,485 3,813 HOUSEKEEPING: SALARIES 7,730 9,798 1,000 BENEFITS 1,705 2,155 150 PURCHASED SERVICES 4,0Ou 4,200 10,100 REPAIRS AND MAINTENANCE 200 200 200 SUPPLIES - GENERAL 1,800 2,350 2,500 TOTAL HOUSEKEEPING EXPENSES 15,455 18,701 13,950 PLANT OPERATIONSIMAINTENANCE: SALARIES 4,200 5,925 16,639 BENEFITS 924 1,304 2,490 APARTMENT REHABILITATION 600 1,000 1,000 CARETAKER ALLOWANCES 600 S00 800 PORCH. SERVICES BUILDING/GROUN 30,215 30,215 31,765 REPAIRS AND MAINTENANCE 12,000 8,500 8,500 SUPPLIES - GENERAL 4,500 4,500 4,500 TRASH REMOVAL 7,150 7,150 7,350 MISCELLANEOUS 3,400 1,400 1,000 TOTAL PLANT OPERATIONSIMAINTENAN 63,588 81,394 73,850 UTILITIES: ELECTRICITY 21,000 521,500 22,350 GAS AND OIL 240000 27,000 25,000 WATER AND SEWER 9,000 11,900 10,000 TOTAL UTILITIES EXPENSE 54,000 80,400 57,350 J 10/07/97 ESTIMATED PROPOSED PLYMOUTH TOWNE SQUARE ACTUAL BUDGET BUDGET OPERATING BUDGET FYE 12131/98 FYE 1201W FYE 12/31197 FYE 12131/98 PROPERTY RELATED: AMORTIZATION 518,788 18,794 16,788 DEPRECIATION - 208,322 208,922 208,483 INSURANCE -PROPERTY 9,882 12,396 9,414 INTEREST EXPENSE BOND A NOTE 318,740 318,740 313,500 PAYMENT IN LIEU OF PROPERTY TAX 22,450 21,803 21,830 TOTAL PROPERTY AND RELATED 573,982 575,855 567,795 GENERAL AND ADMINISTRATION: SALARIES - MANAGER 10,882 518,511 21,245 SALARIES - ADMINISTRATIVE OTHERS 15,870 17,462 16,757 BENEFITS 5,348 7;914 51700 ADVERTISING - PERSONNEL 1,300 400 600 AUDIT 4,000 4,200 4,100 AUTO AND TRAVEL 800 800 800 COURIER 300 300 300 DUES AND SUBSCRIPTIONS 1,138 1,138 1,184 INTEREST EXPENSE -SECURITY DEPOS 900 S00 888 LEGAL 0 0 0 LICENSES AND PERMITS 575 575 615 MANAGEMENT FEES 38,582 38,592 39,525 MEETINGS 6 SEMINARS 1,200 1,200 1,240 POSTAGE 1,074 1,074 1,100 PRINTING COMMUNICATIONS 720 72C 500 PURCHASED SERVICES 1,100 1,839 1,200 REPAIRS AND MAINTANANCE 110 100 150 SPECIAL EVENTS 300 300 350 SUPPLIES - OFFICE 1,200 1,200 1,250 TELEPHONE 5,400 5,400 5,580 WORKER'S COMP. CLAIMS EXPENSE 300 0 0 MISCELLANEOUS 800 600 600 TOTAL GENERAL AND ADMIN 5100,399 103,015 103,884 GRAND TOTAL - OPERATING EXPENSES 810,910 822,850 820,442 EXCESS (DEFICIT) REVENUE OVER EXPENSES FROM OPERATIONS 7,822) 28,422) 3,307) ADD BACK NON-CASH :TEMS: - AMORTIZATION 18,788 18,704 18,788 DEPRECIATION 208,322 208,322 206,483 SHELTER TAX ACCRUAL 22,450 21,803 21.030 OTHER CASH REQUIREMENTS: DEBT SERVICE INVESTMENT INCOME 24,500) 20,879) 25,721) SHELTER TAX PAYMENT 21,512) 21,8.73) 22,450) PRINCIPAL PAYMENT ON BONDS 92,502) 92,502) 101,250) RESERVE REPLACEMENT 24,885) 24,688) 29,700) CAPITAL IMPROVEMENTS 21,140) 22,700) 9,288) CONSTRUCTION FUND EXPENDITURE 17,000 17,000 0 SUB -TOTAL 78,221 79,350 558,474 yy tom INCREASE (DECREASE) IN CASH - 70,309 49,928 53,187 PLYMOUTH TOWNE SQUARE BUDGET ASSUMPTIONS FOR BUDGET FYE 12/31/98 REVENUES Rent, Resident and Subsidy - Maximum rents for 99 units broken down as 19-2BR2BA at 758/month, 20- 2 BR1BA at 5707/month, 7 large 1BR1BA at $650/month, and 53- 1 BR1BA at 5600/month, totals $64,892.00/month or $778,704.00 annually. FYE 98 reflects a 2.5% increase in.apartment rent. Resident Rent FYE 1998 represents the resident's payment portion of the total rent and is approximately 64% of total rents. The percentage is based on projected resident rent income certification figures. Subsidy Payment FYE 1998 represents the City of Plymouth's portion of the total rent and is approximately 340/6 of total .tents. The percentage is based on projected resident rent income certification figures. Vacancy Factors- FYE 1998 reflects 10 units at 655/month. Caretaker Apartments- reflects cost of one 1BR1BA (5600/mo.) allocated for part-time caretaker and one 2BR1BA (5707/month) apartment allocated for full-time caretaker. Caretaker Garage - reflects two garage spaces allocated for both caretakars. Guest Room Rental FYE 97 reflects a higher anticipated usage due to several special occasions several 50 year anniversary parties) in the building. FYE 98 was n0jil ted accordingly. Laundry Income - reflects resielent, family, guest room and caretaker usage which fluctuates monthly. FYE 98 is based on average monthly revenue from the past year. Investment [acme - Reflects interest income from security deposits invested in a pass -book type savings account and Debt Service Fund. Miscellaneous - reflects increase in•outdoor car plug leases (8 residents outside), late fees and NSF fees. ACTIVITIES AND RESIDENT SERVICE EXPENSE Resident Programs & Seminars - reflects monthly Wellness Clinic, Health Talks for residents through Walker Community Services, entertainment, May Senior's Month activities, .Anniversary Party, Seasonal outing in November and entertainment for Resident Holiday Party in December Supplies - reflects decorations, movies, games, food and supplies. October and December reflex p management's contribution to the Anniversary and Resident Holiday Parties. 4% increase due to f rising cost of paper products. Miscellaneous - reflects replacement costs and repairs of Resident Services equipment, holiday decorations and resident appreciation. Salary - Housekeeping reflects proposed change in stafimg for FYE 98. Full-time caretaker/housekeeper/maintenance position who works 40/hours/week assumptien under PO. This caretaker lives on-site and receives a.2BR1 BA apartment as part of their compensation. In addition, PTS has a part-time caretaker/housekeeper who also lives on-site in a IBRIBA apartment but does not receive any cash compensation for this position. Both caretakers receive a rent allowance, caretaker allowance, and benefits. FYE 98 reflects Part-time caretaker receiving apartment compensation for housekeeping. Three weeks vacation coverage at $7.25/hour is reflected in FYE 98. Benefits - Housekeeping - Equal to 15% of the cash salary. Purchased Services - Housekeeping - reflect 2 window washings for the building and professional carpet cleaning of approximately 70 apartments. Walker's policy is to professional clean carpeting in apartments every 3 years which helps maintain the condition of the carpets and prolongs replacement. Plymouth Towne Square has 70 residents who were original move -ins in 1994. Repairs & Maintenance - Reflects the cost to cover minor repairs of vacuums, extractor, electric broom and other housekeeping equipment. Supplies - General - Estimated actual decrease reflects using up double ordering of supplies from two different vendors. FYE 98 reflects the cost associated with purchasing toilet paper, paper towels for cleaning and dispensers, trash bags for all the departments, fresheners, cloths for cleaning, disinfectant for bathrooms, etc. The variance reflects an increase in pricing from our vendors. Salaries - reflects a staffing change in FYE 98. Full time caretaker would be responsible for maintenance in the building thus eliminating outside repair costs. Benefits - Equal to 15% of the cash salaries. Apartment Rehabilitation Cost associated with the move -ins and move -outs of residents such as painting (labor and supplies) and miscellaneous repairs. FYE 98 decrease reflects Full-time caretaker position doing most of the painting. Caretaker Allowances - Amounts to S25 per month for each telephone for two Caretakers that five on-site, the total is S50/month. Purchased Services - Building and Grounds - Includes Emergency call monitoring services, pager service, Pest control, snow removal, elevator service, chandelier cleaning, back-up building emergency call contract with Walker Methodist Health Center (WMHC), qre extinguisher inspections, fire system annual inspection, HVAC inspection and seasonal service, paved surfaces, lawn care, water softener maintenance etc. FYE 98 reflects price increase in several vendor contracts. Repairs and Maintenance - Includes painting, electrical, plumbing, appliances, snow blower, security system, fire alar, emergency call monitors, security entry phone, security door, HVAC system, locks and keys, windows and screens, carpentry, salt etc. FYE 97 numerous HVAC repairs, Plumbing costs etc. FYE 98 reflects reduction from actual due to adjustment in hiring maintenance person, Supplies - General includes light bulbs, plumbing supplies, electrical supplies, tools, filters, miscellaneous, etc. With hiring full-time caretaker/maintenance person these items will be inventoried and purchased as needed. Trash Removal - FYE 98 reflects a 3% increase from FYE 97 as per trash contractor. Miscellaneous - FYE 97 reflects the payment for a private report done with regard to our winter roof ice dams. FYE 98 included minor and non -capital equipment and fixtures. UTMffMS EXPENSES Electrical - FYE 97 indicates lower use than anticipated. FYE 98 reflects increase in rate. CAWO8 - Reflects lower than anticipated use for FYE 97 therefore the adjustment for FYE 98 Water/Sewer - FYE 97 indicates less water usage because of wet summer months. FYE 98 reflects average usage. I 4 L4-6wl, I Amortization - reflects Total Legal Fees, Accounting & Financial Advisor, Printing, Underwriters Discount, Trustee Fees, Title Insurance Policy, Mortgage Registration Tax, Rating Agency Issuer Fees, amortized over the ter of the loan on a straight line business. FYE 98 reflects appropriate amortization with organizationallstart-up costs amortized over 5 years and the remaining amortized over 30 years (term of loan). Insurance - General - the variances reflect adjustments for actual costs. Payment in Lieu or Property Tax - The project is required to pay annually an amount equal to 5% of the Resident Rent less utilities and trash removal. GENERAL AND ADMINISTRATIVE EXPENSES Salaries - Manager - The managers position is still part-time but increased from 27 hours to 30 hours a.week. Both FYE 97 & FYE 98 reflect 4% salary increase. Salaries - Administrative FYE 97 reflects vacancy in position for 1 month. FYE 98 reflects 35 hours per week full-time position with 40/6 salary increase in April. Benefits - Administrative - equals 15% of both salaries. Advertising Personnel - FYE 97 reflects additional cost needed to advertise for resignations of 3 positions. FYE 98 reflects rising costs of advertising. Auto and Travel - reflects cost of travel to community meetings, corporate office and obtaining maintenance and housekeeping supplies. Audit - FYE 98 reflects a 2.5% increase from FYE 97 Courier - Cost associated with the transfer of documents and reports to the project. the City and Walker. Dun and Subscription - reflects individual membership for Minnesota Health & Housing Alliance (MHHA) and American Association of Homes for the Aging (AAHA). Slight increase over last year. Interest Expense - reflects cost incurred upon move -out resident is paid accrued interest on their refunded Security Deposit. Lh-vtq:es and Permits - reflects boiler licenses for new caretakers and City of Plymouth Dwelling Housing. Permit. - Management Fen - reflects terms in management contract. Meetings and Seminars - reflects cost for staff to attend special training, MHHA Institute and Annual Meeting. Postage - FYE 97 reflects decrease because return post cards for waiting fist were not pre - stamped. FYE 98 reflects stamping of mum post cards. Printing Communications - FYE 97 reflects the cost of stationary and having monthly newsletter printed at Corporate. FYE 98 reflects printing of all monthly newsletter= and additional printing costs during waiting list mailing. Purchase Services - FYE 97 reflects reduction of price on contract due to having newsletter printed off site. FYE 98 reflects cost of toner increase and replacement of drum. Special Events - reflects staff appreciation and holiday parties. Supplies - Office - reflects the cost of office supplies; copier and printer paper, file folders, pens, pencils, etc. FYE 98 reflects 3% price increase from supplier. Telephone - reflects cost of service for 6 lines which included business lines, voice mail, securitydoor, elevator, emergency monitor and fax. Miscellaneous - reflects holiday decorations and false alarm fees. RESERVE REPLACEMENT - Walker recommends $300 per unit for reserve replacement which is an increase of. $50/unit. J PLYMOUTH TOWNE SQUARE CAPITAL EXPENDITURES BUDGET FYE IV98 APRIL Replace landscaping bark chips with rock. Replace eosting mat with new. Fungus from moisture is evident in bark and bark has washed away in heavy rains. Rock would enhance the appearance of the building and adhere to the high standards of the city of Plymouth. $4;100.00 JUNE Replace the front sidewalk where settling and water run off from the Car Port has caused the sidewalk to heave. Remove all old concrete and ever the blocks of sidewalk. This would enhance the entrance of the building. $2,186.00 SEPT Resurface the parking lot and restripe the markings, This should be done as a preventative maintenance practice every three years to prolong the life of the parking lot. 53,000.00 6 1 3c MEMO:. , s.. CITY OF'PLYMOUnI •,.. ^? r IouTH sovl,Evn n ,irl wv II,1rnv it DATE: October 1997 for Housing and Redevelopment Authority Meeting of October 16, 1997 TO: Anne W. Hurlbun, Executive Director FROM: Edward J. Goldsmith, HRA Supervisor 420, SUBJECT: Award of Contract to Install Soffit Ventilation, Replace Missing Fascia, Secure Remaining Fascia, and Re -install Clock Hand at Plymouth Towne Square For a considerable amount of time staff have been working with Walker Development, Inc. to resolve a number of outstanding construction issues at Plymouth Towne Square. A number of these issues have been resolved by staff and Walker Development working with the general contractor, Frana Construction, at little or no cost to the HRA. However, as previously discussed with the Board, several remedies would require expenditures by the HRA. In anticipation of this work, $40,000 in unexpended construction fulls were reserved for these expenditures. Walker Development has solicited and received two bids for the supply of labor and materials to install soffit ventilation. replace missing sections of fascia, secure the remaining fascia to prevent future losses due to high winds, and re -install a clock hand on the exterior clock tower. Attempts were made to obtain a third bid, but were unsuccessful due to the current high demand for construction contractors and our need to have the work done before this winter. The bids received were as follows: Beissel Window and Siding, West St. Paul, Minnesota $ 7,700 Jensen Siding & Windows, Chippewa Falls, Wisconsin $16,697 Walker Development staff have reviewed the bids and the bidders' qualifications and recommended selection of the tow bidder, Beissel Window and Siding. After the installation of the soffit ventilation has been completed, one last item will remain to be considered. When the City Building Inspections Department deleted soffit ventilation from die original design of the building, additional ventilation was added at the lower portion of the roof. Once the soffit ventilation has been installed, these vents may no longer be necessary. It will be rAcmary to determine if these roof vents should be removed next Spring. I recommend that the HRA Board approve the award of a contract to Beissel Window and Siding for $7,700 plus applicable sales tax for the installation of soffit ventilation, replacement of missing fascia, securing of the remaining fascia, and re installation of an exterior clock hand at Plymmrth Towne Square to be paid from the funds previously reserved from the Plymouth Towne Square Construction Fund. Al. ti,i'•,4 .0. : a.... 1.fL`1RO• r' :. •. „ rf ! 1 CI1!Y' OF PlrYMOUTH )> 34....,.PLYMOUR'Ii,BOt'LEVARD,;.PI:YMOUTH:)YIN. SS447 ' 3r t .-.'n, .i r• : r : .0 grin :\ .'sYldlr` 'i DATE: October 9, 1997 for the Housing and Redevelopment Authority Meeting of October 16, 199 7L.21-- TO: Anne W. Hurlbut- , Executive Director FROM: Edward J. Goldsmith, HRA Supervisor SUBJECT: Recommendation to City Council Regarding Continued Participation in the Metropolitan Livable Communities Act Programs for 1998 On November 6, 1996, - .th the support of the Planning Commission and the Plymouth Housing and Redevelopment Authority (HRA), the Plymouth City Council elected to connate to participate in the Local Housing Incentives Program under the Metropolitan Livable Communities Act for 1997. Since first electing to participate in the Livable Communities program in 1995 the City has: adopted the required affordable and lifecycle housing and housing density goals. adopted a new Housing Plan and Implementation Program to serve as the required Livable Communities Housing Action Plan. adopted a new City Zoning Ordinance with provisions that facilitate development in accord with the City's adopted housing goals. provided land use approvals for two developments that are to include 144 units of affordable lifecycle housing. provided staff support for successful applications for Livable Conununities, Minnesota Housing Finance Agency (MHFA), local foundation and federal assistance for privately developed affordable housing totaling $2,874,500. submitted a pending application for $553,000 to the Livable Communities Demonstration Account in support of affordable and lifecycle housing in the City. supported and facilitated the development or rehabilitation of a total of 79 units of affordable housing. The Act requires that for the City to continue to participate in the Livable Communities Programs for the following year, it must annually advise the Metropolitan Council of the City's intention to do so by November 15. In order to be eligible to receive housing and development assistance under these Programs for 1998, the City must act to affirm its continued participation by November 15, 1997. The Livable Communities Act also provides that starting in 1998, participating cities must expend an amount to support or assist the development or maintenance of affordable and life -cycle housing in the community that at a minimum is equal to the community's Affordable and Life- Cycle Housing Opportunities Amount (ALHOA) that is calculated by a formula in the acetate. For 1997. the City of Plymouth can be expected to have expended, through HRA and City activities, a minimum of approximately $200,000 in ALHOA eligible expenditures. According to the Metropolitan Council, the calculated ALHOA for the City of Plymouth for 1998 will be 800. The City's ALHOA eligible expenditures for 1998 and subsequent years are anticipated to be in excess of the amount required in the statute. Comhmol participation in the Livable Communities program will require that the City follow through on the activities identified in its Housing Plan and Implementation Program. For the remainder of this year and during the coming year this will require: Continuation of support for quality affordable and life -cycle housing development. Continuation of support of proposals utilizing a variety of housing assistance funding sources. Identification of vacant developable land that can be appropriately re -guided to higher density residential uses. Identification of ordinance, policy and procedural changes that will remove barriers to and provide incentives for development that meets the city's housing goals. I recommend that the HRA Board of Commissioners move to recommend to the City Coundi that it elect to continue Its participation In programs established under the Metropolitan Livable Communities Act for 1998. s, S!' vj ii. •,:; , ` :, " ' ;' i 1;ir ryn'' y ::S 4A%. ;;t_ ... ; • Am i...s. '7. i :lLf.. "1•,: ;: 1i. . S:.F • .• ;3;r:j C."j, .'.,AJ!`..,v e•. DATE: October 9, 199,7fofor Housing and Redevelopment Authority Meeting of October 16, 1997 TO: Anne W. Hurl6lttY'fy Executive Director FROM: Edward J. Goldsmith, HRA Supervisor SUBJECT: Monitoring and Inspection Services for New Low Income Property Tax Classification The 1997 Minnesota Omnibus Tax Act created a new property tax class 4d for affordable rental housing. Qualifying rental units can receive a net property tax reduction of approximately 66%. The classification rate for qualifying units, starting in 1999, will be 1% compared to 2.9Yo for non- qualifying units. The lower rate is applied to the qualifying unit plus a proportion of the land and common elements associated with the unit. To qualify for class 4d: The unit must be occupied by individuals whose income is no more than 60°Yo of the median area gross income at the time of initial qualification. Median area gross income is the greater of median gross income of the area as defined by the low income housing tax credit rules or the median gross income of the state. There must be a rent restriction agreement that limits the rent to no greater than 300/6 of 60% of the median gross income for a period of five years. The unit must meet minimum housing quality standards. The Minnesota Housing Finance Agency (MHFA) must certify to the local assessor that the unit qualifies. The owner must agree to make a specified proportion of all class 4d units available to households with Section 8 certificates or vouchers. For property in the Twin Cities Metropolitan Area the proportion is 20% of all 4d units. For property in Greater Minnesota, the proportion is 10%. To receive the 4d classification, the building owner must apply annually to the Minnesota Housing Finance Agency (MHFA). The MHFA will monitor any Section 8 and federal housing tax credit properties that apply for the 4d classification for compliance with the foregoing requirements. For all other properties the MHFA is soliciting proposals from local entities, including cities and HRA's, to provide monitoring and inspection services for their areas. For localities, such as Plymouth, that have local rental housing licensing programs; compliance with the inspection requirements of the local licensing program satisfies the minimum housing quality standards. In Plymouth, monitoring of the program would require: A verification that the property has a current rental license. A verification that a minimum of 20% of the 4d units have been made available to households participating in the section 8 certificate or voucher programs. A file review of approximately 5% of the 4d units to determine: That rent is affordable at 60% of median income or less. That tenant meets the income requirements. That appropriate documentation is in the file. In addition, the monitoring entity would be responsible for the following administrative aspects of the "ON program: Correspondence with owner and MHFA regarding any non-compliance issues. Determine whether non-compliance was inadvertent or willful. Determine and make recommendations to MHFA regarding abatement of penalties and corrective actions to be taken by owners. Administration of contract with MHFA for a minimum of 3 years. Provide a breakdown of costs for : ervices provided through the end of the fust year. MHFA will be collecting a $IS per unit fee from owners that it will pass along to the monitoring entities. Additional charges for unit inspections are to be determined and charged directly to the property. 117100 units in Plymouth applied for the 4d property tax classification, $1,500 in monitoring fees would be received and on-site file review for approximately 5 units would be required. At this rate MHFA would be paying $300 per unit actually reviewed. HRA staff have reviewed the MHFA's request for proposals and have identified the following issues related to the HRA performing the 4d monitoring and inspection under a contract with the MHFA: As part of the program we could encourage owners to participate, thereby promoting affordable rental housing in the City. Owners are required to snake u minimum of 20% of their 4d units available to Section 8 clients, we could use the program to encourage more owners to make units available to Section 8 clients. We would directly monitor the Section 8 provision and work with owners to assure that they are making units available to Section 8 clients. This would provide a much needed incentive for private owners to participate in the Section 8 program. This would provide added value to the Rental Housing Licensing program by including certification for the 4d classification at a nominal additional cost to the participating owners. The additional workload would have to be absorbed by existing staff since neither the workload nor the fees collected would warrant additional stats. Staff believe that the benefits of providing these services justify absorption of the additional workload. Proposals to provide the monitoring and inspection services are due at the MHFA by October 15, 1997. Since the proposal is due before our next HRA Board meeting I am proposing that we submit a proposal to the MHFA contingent upon subsequent Board approval. I recommend that the HRA Board of Commissioners adopt the attached resolution authorizing participation it the monitoring and inspection program of the Minnesota Horsing Finance Agency for the 4d property tax classification. HRA RESOLUTION 97-12 AUTHORIZING PARTICIPATION IN THE MONITORING AND INSPECTION PROGRAM OF THE MINNESOTA HOUSING FINANCE AGENCY FOR THE 4D PROPERTY TAX CLASSIFICATION WHEREAS, the state of Minnesota has established a new 4d property tax classification for private rental housing affordable to low and moderate income households; and WHEREAS, the Minnesota Housing Finance Agency (MHFA) is responsible for determining the eligibility of properties for the 4d classification; and WHEREAS, the MHFA has solicited proposals for local entities, including cities and HRA's, to provide monitoring and inspection services to assure compliance with the 4d eligibility requirements; and WHEREAS, the Plymouth Housing and Redevelopment Authority (HRA) desires to encourage private property owners in Plymouth to qualify for the 4d property tax classification; and WHEREAS, it is appropriate for the Plymouth HRA to provide the monitoring and inspection services solicited by the MHFA; NOW THEREFORE BE IT RESOLVED BY THE HOUSING AND REDEVELOPMENT j AUTHORITY OF THE CITY OF PLYMOUTH, MINNESOTA that it hereby authorizes participation in the monitoring and inspection program of the Minnesota Housing Finance Agency (MHFA) for the 4d property tax classification and approves the submission of an application to the MHFA to provide the required monitoring and inspection services. Adopted by the Plymouth Housing and Redevelopment Authority on October 16,1997.