HomeMy WebLinkAboutHousing & Redevelopment Authority Packet 08-06-2001 SpecialHRA STAFF REPORTS
AUGUST 69 2001
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AGENU
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3400 PLYMOUTH BOULT VAM PLVMOU1 kMN SSO47
DATL- Augast 3. 2001 for Housing ad Reftniopmeat AudAft Meeh
ofAugttat66.M001
TOm Pb m outA liovsing Redet dopmeot Authuby
FROW Ame Devdopmeort DirectoM HRA Executive Oita toe
SUBJECIN Ptdi bury Baddat o d Tax Lmy
Pbrmodb Tom HBA G- -, F and
At do Jahr 19 HILA metsittg, vte Ascuased do HRA's subsidies far no at Pbmvm& Taw=
SW= (PTS} -the dv* bracer tine item in tie HRA's Oenad F1md budget The Bawd
decided to coed= tics tmmdm at a qmW meaiog an Ault 6. Sraf vtav admd to p q me
some addttand b m uum so *A ria pus' I I I impacb on tie 2002 badger and in k%7 of a W
einDos aonoetoittg M cold be aotnidne l
Sts6is pomemb v=k tg on teR iog 009 t0141,12=1 udgtos Rte aU 0y and
aepmamte I 'Iba dmfs l IS, ate sdW dakd to be m*mitted to the Chy Cowen dating Iia
vtaek of Augmt 20. On September 11. tie CoWA uWM adopt a ploy tax kvyy far 2002.
One the 9 liaoiae 3 kyr is sek it.om be tabooed bat comat be 6woustl, irmal budgets vnll be
adopted io Doom Ger, m& dw Sod tut kyr daa tD be eetdM io the Cbm»pr by Dnmdw 2g.
The HRA budget ate included io dw budget Mdmutted to tie QW CoundL HRA adivitks ate
CovetedbFtimesI I I P'pm t Is I Mel S bmftft dor 2001 measfoll=m
2001&
1240 Coammm* Dwdopm= Bleck (boat (CDBO) SM436
1251 Sation 8 :1,762,798
1252 HRA Gmad F=d 9S
no CDBO attd Salim 8 ptagtmns ate sttppotted almost aotiteb by Rdetal foods. aaoept the
some avahwA (sacb as dkcWi= foe dm ptooes1, and bdlkks ma tj vkj* me
hvA d luau& the pooWq tort kyr. 1be HRA Gwmd fundis supported ahttast amtitebr by the
pwpett)r tort. 7bo HRA pettpatpr tort levy in 2001 is SWAG. Rr mos in addition to do
popaly toot in tool iodade state HACA (s2s,73U io%Md on investmaut: and I mal boom
Me Coasted haditiomiby adopts to HRA's budgets as past of ebb overall Cit budget. 7be HRA
ses ao6amioy aver tee HRA Genual Fmd.md Suction 8 p e mn budgets. DA City Caumdl is
tee grmitee Por tee CDBO pragRmu, aD th4 save more mr6aritr over teat pntgtam budget 7be
City Council tion save mrthomity over theamoont of the HRA paperty mor kvy,.so ultimoaaly
cqu eolsolio souaeo of rr - me fat msopy HRA l gRams.
DSR dctaiied budgets are not yet avaMIL Mie mgjur 1 8 in tee starve propetly tax watem
and omer Chdk uges save made budgeting mote. dMU* dds year tem is tee past. StaR'vr81
provide the HRA wit our pe ml ased detailed budgets velum &W we seat to the City Council.
Hm m ,w, wa can give tee bamd a poview of me sipificm budget Aga we will be
I roposing, aur reoommardstiao Ira addressing pTS and sal dies in the budget,
and the recommended wmimum too tiny drat should be adopted in September.
3M BUDGET ISMIN :
1ZdD---oaamo ,11 Development Block Gino (COM)
Staffmili rot be mcommerdiog may sigpifieum CDOO budget Ia for 2WL Ile budget
vM «elect tea aupated kvd of fbdaal funding and tee cannot a vd of aulft and saviee.
Some in tee ov m 5 funded by property tax dollars will acw to rellea overall City
espeoditunesinmoueeaI gaia.
Staff wt71 be poIog sn mneme in dmWwg by .6 FTE (full time eupdvd mt position) for due
Section 8 pmopam. Ibis p pma bat mese than doubled in on (fi m 152 bomebAsis saved in
1995 to 313 hoosebaesu saved to ft) but staffing has not inneosed from the sb& employs
new allocea d m tis budget.. Fvr&umore, the HRA naw* maaved notice test we wt71 be
moeiviag 35 Home v madras. Inad I'l
l
to the .6 FM new position, mm@ - and
sutpavision boa beta reoentb assig red to due Support Savior Manager, po Whg 2S FTE of
a*WAood stefFsoppom Wim this new staluG level via d add be able to sella Mep up wit the
demands of aI 'I ing 6o pogrom
We coped that 6m Mad fiords we active fat the p p m wt71 cover the boots of
6o 6 FTE mow postie'Kon. We wM reoomsmend moot the 2S FTE of m n* mmol and supervision
be 6
1- '
Gnw# do=lavy in 2W% until we eon be cerI in dist out mailiraodon.reme mod
adesio'll raat I M mre.ldgb c oogh to awuppmt to full oast Ibis 2S F7E is cv nod y funded
ttmo 60 Ci y's funeral Fmd Tw Levy. As wit the CDBG pmagm. some irraease imam
Section 8 oveeseed !boded by popetty tax ddbn will ooaor to reflect ovaall City aupenditnes
in those aaegamima.
1240-40A Cmawd FUd
The *,* issues Aar tee 20M HRA Gmewl Fund bmftd me:
Stdfing kveb and merry allocad m
Parr o Tawas Sapere operating costs and sa6sit kveb
Use ar mva to mqp mm tee aperatiog budget
Tire iom of s me Huwm teed mrd AgrkolwW Credit Aid (HAGU
Amarmm of tax kwy irvF I I i I
haeti arrdmlray aGocaaiaatr- Teis budget annxoma seppaeb mbry and beoe6ts Por
two AdH time pouVam (the Hensing Program NbnvW=daHoodmgSwM ad some
AIS Por tew4ma y admits (m bftm) lite Housing Specialist and $mesa positions are
cum* vac=L In the coming .00mmhs. we will be eve the need Aar the vacmrm po A''aos.
The HRA Gmerd F1od budget baa never bum used to wpport Balmy and bwAts Ow ft HRA
Qeco ive Dhecmd Cow&vA itir Devdopmem Director I itian, whish hm wmA respomdV r
Aar HRA programs. Doe in part to theft tat om an the CWs Gmad Fund L wy Aar 2MZ we
bane examined the sdmy alloaxmiaoa and wtll be reoonmmd'iOg that 1096 of the coat r f the
Bnmgt've Duamor powma be dlocated to the ittWs Generd F1md badges. As named Auve,
ataffwill deo raommend *am 25 FTE hr Sad= 8 program moogpo eom be dlocmed to she
HRA Genad F and badger. The total impact as the beget Aar adding these allocsdam will be
a v=hnamear aoAw in 2ooL
Pbmod Talars Sgame gpoo tg carts mrd=bso lever— Widr the aloe of the CWs
Fwmoe Depewa=% we bane prgjecsd a"brenk-evW budget the Min 20M (see: mashed
speadsI Q We pc jest teat, if fto" nems need aAft farm I remain m chmged. the
snbaidr aadd in 2002 will be less khan rho amrent badger by app oxiammear $22M
We bave do aamimd the pmpd reserves (see anmhed spreadsheet.) Tb m bas been a
caoeeea abaat dte amamm of reserves Arr repair and reolaeemenm. Staff wall be reoommmding a
it St review of cq*d needs Hw, anw, based an a' leek of thrmb" that SSDWwd pw year
should be see aside Aar Aumme bm'Id smod% we should bave a reserve of app=dmamear
t360`o00 in 2001. Thi;am= is pobabar agenerous es b=L Aft inaaeasing thevep irmad
re immumm awn im than maoaam. the Fina m Depmuo m aosp m admma that PTS wade
amar $418.116 in aura reserves in all aooaamms.
Si m ow hrst musiog, we have received 10 mmegmm m praposab in respon a aur RFP.
Staff will be anal rft sham in detml Aar revkw at the next regoW HRA media& Whale the
mmqpom Ana in the pmpoaab vmy widen. it appema * m a naw mamagemem comprgr mall
be able ra h* its aehim - mvbp is other moa of FTS apeeamiana. ThaeAxe, bmed an wham wa
know now. staffdna oat mmkipme a mgor increase in the mmqpmem and opetamiooa costs Aar
PTS in 2002.
vie hove begm disatadm an the,coin and adfr kvd% and vnll sootmre waking on the
recarrmnmdamioas and e . directiooa agred to at the liar HRA mmting. When a new
mit 11avpa0r k seketed, we US vtark who them m NOW am tacotomemdsmians an.
M04 subsidies sad a*a apeeatiog potides, as vmU o an a teRgemem of aur cephd reserve
need& m do monfim for dee pmpose ofdavdaping a p lhnbmy budget std mot levy, stall'
VOW reoommmdiog M' - -1 -A io the subdis for PTS ant the 2001 budget Ude a
in teats md.vAdites result. in a need for addb%ml fimdittg, we believe da it Gould be covered
mofexWbg pgjesttererves wAAwby pbuieg is GI S - m tnimise bwW
hRmw
use q f mwuas fo g idaqwaftbumbet— IU 2001 budget i odudes a teaos8, of
560.000 Rom vesm%v% dbwivg do tact kyr to be tednoo 'by Owt anom L The Finance
Dqm meot.hihis esomamrd rota the HRA's gwmd find tesenie vdll be appal mm la $313,000
at do cod of 2001(soe the anacbed wodmbeet.) 'psis does not iodide the ABbrdsble ElwAft
Res m Rend babmce afabost $140,000 (moat of db tad bas baa aommiued to dee Stone
Creek Vil W p IM4 TM OW C mwl ad HRA may desire to once again It" down" the
papetdr usx levy ebreugh use ofeasumm We cauld cdadame the tomdemm retic levy withau
1 Rem do load bd mm amdmvs the curtest =am % at surae atter option.
lb toss rlstasr /lbatwsodmsdAvkmtdad cm& Aid(MW*— lu Ga to dse state
popap hot OY - imdwb the dimimsioo aft HACA Por dte Ci y wA the HRA. 1be MRA's
HACA b 2001 vis U%73& 71fe some ws71 dbw properly not levy to mpboe loin lost aid. Stiff
vn71 raoommend tbsm rtes HRA ley increase es coves dee bat HACA.
Acs uw qfam LV hweasa- Mary of the isaes noted above w71 affaet deo: popaq tax kvy.
Far de psnI ofnladating a wAximmm HRA papuly in kvy for 2000, stiff recommends
on huav *
2001 papetproulavy(lowded) 345BM
etetaebis avetbead, Gees- I ahry iaaases, ere, far +17.000
aoaented nervine
bstasse Rr soh W aU xM= p wiw* sappotted lw ClW +30.000
t3eaetd And
Loss of H11CA +25.000
Do mot coal m 2001 sage Sam tasd behttoo +60.000
7112 fsapsrq 71ta LWY
71te =vim=' laf5132,0001n ptopxty toot levy hr2002 would be abast 29%over the
2001 levy. 7be Fmtmee Depatimeat eatimames dmm the impeet esti Ibe average Pbmettld home
5224,200marhetvalve in2001, iotlsmedm5243,300 in2000)would ten abaa59.81.
R1 01 Du 7'IONS.
I aaoamtmd that the HRA Board d'itams tltia ioPoeni oq and comider dre maicax
Rwommad *ASO City CowxU adopt a ..NRA.paWiy ta Len of SM000 Por
200L
Direct teff to papme ddaikd eudgeb Por HRA aoMil Cam G qpeaira L.aomiam with
the reooatmeadadom in 1hm RpuA.
DOW staff to aoadmre its aaet is of the apmft bndget.aad Kama of P4 ataub
Towne S*vM as wA=d in ft J* 13.2001 stiff tepott.wA as ooOdVAnt wbh the HRA*s
dheotion at its J* 29 meedog.
AUmbstaft
I. rt --w b Tanme Sq=o C mh Fbw Pm 4pF iom
I Ppm=lb Towne Sgaare Room Bdum
I HRA anieral Fw d Balaaoe
0. AlgaMb Hensing Aooaaot R=m
tw u dbnmian ao a 2a01rioe
0
Rovenu
Rental Inoome
jb tdy hom HRA
over hmn.
Tnvtdw of Neds
Tahl Rawnuaa
exp:
AcbWm and Resident Senioes
W
parts openom a Naintenw=
MOM
pmp" a Related
General a A&v*dsWaM
Total operates Eq i
lee balms hltela{i. Dapneldbn
ad Anaftkv*m
Osprsdatlon and Aamrltratbn Expo
baaaa hoes) Balms Internet
be~ Expnnas
Not u.mmn (Lass) bdbm Gams
Unmdkmd 93M Ids) Invealmant
Nat- -- ILW)
PV -m to Towns S w o
Cash Flaw Pmpmtlon
2001
Annod
9~
S 527,912
S 266,000
S 15,486
a -
67,717
877,115
4,035
17.580
95,328
72,775
32.639
126,794
349,151
527,964
219.070
914,894
282,691
32.263
32.263
2002
Annual
a 527,912
S 243,60
a 15.486
a -
66.200
853,200
4,150
18,100
98.500
75,000
33.700
130,600
360.050
483,150
215,000
278,150
278,132
18
Plymouth Tawne Square Cash Fbw Majecdon.xls 8r2/20p1
PTS_Reserves.uds
Plymouth Towne Square
Reserve Balances
Note (1): Investment sornings
The bond document states that investment earnings of the Repair and Replacement Reserve
shall be deposited into the Debt Service Reserve.
All investment earnings from all the reserve funds have been alkxred to the Debt Service Reserve in prior years.
For this projection the investment earnings has been spread to each reserve.
Note (2) Replacement Reams
Amount per unit / year 500,00
Number of units 99.00
Annual Amount 49,500.00
Reserve Requirement
1994 OPA - Dee .25 years 12,375.00
1995 - 2001 7 years 348,500.00
358.®
8/12001
Projecteu Minimum Excess
Balance 2001 2001 Balance Balance Reserve
12/31/00 Additions Reductions Interest (1) 12/31/01 Required Funds
Repair and Replacement Reserve 180,490.00 29,700.00 - 9,829 199,819 358,875 2) (189,088)
V4o*ing Capital Reserve 481,883.00 28,900 810,883 100,000 410,883
Construction Reserve - Roof 13,373.(10 802 14,178 14,175 0
Debt Service Reserve 525,102.00 389,380.00 (389,380.00) 31,508 888,888 390,000 1ss,s08
1,281,188 883,050 418,118
Note (1): Investment sornings
The bond document states that investment earnings of the Repair and Replacement Reserve
shall be deposited into the Debt Service Reserve.
All investment earnings from all the reserve funds have been alkxred to the Debt Service Reserve in prior years.
For this projection the investment earnings has been spread to each reserve.
Note (2) Replacement Reams
Amount per unit / year 500,00
Number of units 99.00
Annual Amount 49,500.00
Reserve Requirement
1994 OPA - Dee .25 years 12,375.00
1995 - 2001 7 years 348,500.00
358.®
8/12001
Mw1.GKw+L F+ud—edKQ&A s
MRA General Fond
1paa0enad Flmd aAmbale
DaoereDo 31.1001
Urason -a Panel 9e1d110e 1$13113000
10016 rdaet
ilweraraa
Eepwmmkwaa om Ratremma
Prgaraed And 8drs 12131MM5 WANT
F1md Bdmos
3001 eepand ift MAW
neaane Ar odn aper atdda`
Calr Pber means
5Z3,6
59J.i96
i saw
aa0.Ia
401E '
m
P eadd lird ahlesCs atrrplaa at 113311!001. 1
TM Wuaaerwd Wa eItum ms+lmd lalrroa.
r oad a OalNros ditd0. aa1 a da1d001001 .
m
Rsaawo ibrAt aidtbb - - "' 1414 ds
nom tnt o 31.2000
20 Ducksm
1537Eh.ft9dattom
1999AdMb
Amo10t
81,352.50
3Qmd998 CMal LM 51..5aao
8A31199d Foos Fanbd Agog" "m mahq 15.000.00
1AM999IWFACRF Gtrd 206000.00 Nnae4 aoo wu peio
7AM999 MrtanarFEeaidanoO LothRapadttamt 5.490.00
12=M999 Fbot FaraatAtbtda b Nm l;iM . 151000.00
12/3/1989 BRNO Cm* Loan PAMtttant 52,147.83
12MAM. htataat AboOm tar 1988 3.750.57
Balattos 12131A9 121,240.
19W Admin
MnM 2 Lob Gwm Pmft M Addn 65.00Q00)
2MM M MMIWO h 20,000.00
51??MM FWt Fai@WPaoptm d ft=W Fe 15;000.00
WM999RIPMtnm Afam% hHauangLoan 5.330.00
910011999 3315 Grbotd CloWq Goat 5 929.00)
1207H989 MRA AW=Mb Motnft PAum 15,000.00
12A1n9991ndahatAlueftn dbr 198® 56837.15
9larn 12RU99 111,
20MAdk*
1/1911000 3325 O I ll t- GAP a m t (8,000,00)
WISQ 03315.32SGrlotta,satllentrit.00natetgntae (5.390.50)
8r2V= Fkm.Fataat 156000;00
J
p"p1
CIV d PVAOulh
Rassna ttirAf nMft 11, P1 jsaa
t)sasM 31.2x00
6R6f2000 MsmasramttailltnM!
12M1 6M 1lammt Ln pufdr home
12WMM MRA Fact Fawst A6ataab Mso
121UMN 5515 O m ', ttd Ln ammftb amps
t2=MM Ttatdtuttds 6attt MRA 6ettetat Ilrtd b Dale
bW aon11 Or, t tegiirad atmM.MACA.1 11%.
MUM I in a- Allmdiattsr200a
edsno.lxmm
4 2m Sdedpt 11 4
4112001 Oqd IM
MUM-al'ro anus is 3125 QmW d
a' '162=
Dab ama Fat Fbtast Jana 2001
PAft .ns6tals
i
Pqp 2
6 KOO
r,ore5
ts,00a60
627M
SAW30)
WIN
e
120,775.65
RWALOo)
OWN
t
t&000.00
t
410)
M
NEMO
CfIT OF PLYMOUTH
340p-M.YMOUTH BOULEVARD; PLYMOUTH. MN 55447
DAM. August Z. 2001 for Housing and Re&Ndopmmt Au&origr moding
ofAugost6.2001
To: Pgnuout6 Housing
FROM: Ane Hurl community Developm m Directod HRA Executive
Direemr
SUBJECT: P"Gatb Towate Square,
Show Onvpyhsg 7baifadt Units
At the July 19 meeting, we discussed the issue of single leamb ocaWieg two4wdtuom
unit% and what aHbct that has on the affordability of ants.. N6b& we ody no vacant
two-bedroom units to Coupla. as Noon have aged in pleoe half (19) of our two-
bedtoom rmib are nmv oonppied by singles. Many OHM singles we now b nl ned by
their M,% having brat the income of their partner.
The previous staffteport did not incbMa dela specific ft on do rem br If these 19
Imams. We have now compiled some statics. The attached tables she .rousing costs
as recent of income for all PTS bousebobk and the same dam far the 19 singles
The table shaws that, as we aspected, single in two-bedroom units are a skFi5eaot share
of the PTS residents who pay more than 4091 or 5091 of their incomes for rem. This
SUROM drat C11104ft Ilk policy an peuaittin8 singles to remain in the larger rmits could
help arse the NO I - I of many of these Ienan- The dam also snggat that the
1101mbilitr of u ft our Section 8 program to assist many ofd m is las promisio86
thesas
e tenants would not quasi$ for assistance in a two-bedroom nail. Rubatmom if
they moved to a ano-badmom unk many would no loager be "teat bndomxr (poft
OW 50% hr no sod udWq) acceding to the federal aIar I They would be las
hl* a receive a prefae000 that is usually required to receive a voucher aux doy are
M the waiting list fordo program.
s oginio ersmemosoe
C
Plymouth Towne Square, Resident Rent as Percent of Adjusted Income (All Tenants)
Singles Occupying 20R Units Only
Means Over' Means PA Income Over 60% of Income
Subsidy
Level
Without
utilNks
With Uli ON VVNhout
WIN"
With UulMn Mhout
Will"
Winn Utilities WWW
UNIities
With U13itin
Very Low.
Income
8 32 5 12 3 3 0 3
Low
Income
82 82 35 80 18 22 13 14
Total 70 94 40 72 21 25 13
19 14
72% 97% 41% 74% 22% 28% 13%1 17Percent
Plymouth Towne Square, Resident Rent as Percent of Adjusted Income
Singles Occupying 20R Units Only
Over Income Over 33 Income Over fnans Over 0% of Income
Subsidy
Level
Withan
Utilities
YM Uldi in Wvtitoot
Utilities
With Utilities without
u IN"
With utitilies Without
Utilities
With Mties
Very Low
Income
5 5 4 5 3 3 0 3
Low
Income
14 14 10 14 7 8 5 5
Total 19 19 14 19 10 11 5 8
Percent 100% 100% 74% 100% 53% 58% 28% 1 42%
2br with singles compttre.doc