Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
5.0 EDSR 08-10-2009
.''~ ~i aty or Elk -..-~ River REQUEST FOR ACTION To Item Number Economic Develo ment Authori Agenda Section Meeting Date Prepared by August 10, 2009 Catherine Mehelich, Director f Economic Develo ment Item Description Reviewed by Consider Year 2010 EDA Budget and Resolution Regarding EDA Levy Reviewed by Action Requested Staff recommends the EDA review and approves the Year 2010 EDA Budget as presented and approve the attached Resolution Establishing the EDA Tax Levy for Collection in Year 2010. Following the EDA's action, the City Council must approve and certify the EDA and HRA levies to Sherburne County in September. Background/Discussion The Economic Development Division consists of two separate budgets including: • Economic Development Authority • Housing & Redevelopment Authority Revenues Since 2003 the EDA and HRA levies have been enough to balance the Economic Development Division without City General Fund revenues. Revenues generated from the EDA tax levy for 2010 budget purposes are estimated based on a 6% decrease in taxable market value according to preliminary information provided by the Sherburne County Assessor and is subject to change as they finalize numbers. Other revenue sources include interest income and a $3,500 transfer in from HRA funds toward approximately 40% of shared administrative expenses (office supplies, fuels, telephone, travel/training). Expenditures There are no significant changes in the proposed EDA expenditures for 2010, as indicated on the attached Budget Worksheet. The proposed budget was developed with the following 2010 EDA Goals in mind: • Expand city's inventory of available commercial and/or industrial park land for future development • Continue to implement the Strategic Industrial Marketing Plan strategies with focus on brokers/developers, medium-large fight industrial users, and business retention & expansion • Identify desired image and create a branding plan that reflects Elk River brand/image The expenses for the above referenced goals are primarily reflected in the Legal, Professional Services, and Advertising/Marketing budget line items. S:AL;llA\AGENDA\F.DA Budget\08.10.09 Action Kequested liDA budgetdoc In 2004 the Personal Services costs were adjusted from 70/30 percent EDA and HRA respectively to 60/40 percent due to staff time allotted to the downtown construction project and redevelopment planning. It is proposed that this continue in 2010 due to staff time spent on Neighborhood Stabilization Program (NSP) implementation and the anticipated Downtown Redevelopment Plan. Initiative Foundation Annual Contribution Request Information about the Initiative Foundation's 2010 request of $5,000 is attached. Similar to the last year, the 2010 proposed budget does not include a contribution to the Initiative Foundation. Prior to 2007, the EDA had made a series of annual contributions of $2,500 to the Initiative Foundation. However, over the years the EDA's involvement with the Foundation has decreased with the lack of participation in the Foundation's Seed Capital Fund program and the EDA's closure of the Business Incubator program in 2005. If the EDA chooses to include an annual contribution, it should be understood that this is an ongoing request as part of the Foundation's 5-year capital fundraising program, after which funding needs are evaluated and a new 5-year campaign initiated. In 2008 the EDA adopted a Fund Balance Policy to designate a percentage of its cash fund balance at the end of each year toward an EDA Development Project Account. This account is intended to be used by the EDA for development expenses such as land acquisition and related assembly costs for future commercial/industrial parks. Information -Related EDA Program Fund Balance In addition to its operating budget the EDA has accessed the following various funds for specific economic development projects (recent balance sheets attached): • EDA Micro Loan Fund with a cash balance of $828,204 • EDA DTED Loan with a cash balance of $183,851 (derived from 2003 federal grant for Sportech expansion) • City DTED Loan with a cash balance of $151,532 (derived from 2008 federal grant for Sportech expansion) • City Development Fund with a cash balance of $102,428 (City-controlled fund for capital projects such as Northstar Business Park and Gateway Business Park) Attachments • Budget Worksheet -Proposed 2010 EDA Revenue & Expenditures • Resolution Establishing the EDA Levy for Collection in Year 2010 • Initiative Foundation -Year 2010 Request for Financial Contribution • Balance Sheet for EDA related Project Accounts as of July 31, 2009 Action Motion by Second by Vote Follow Up S:\EDA\AGI;NDA\EDA Budget\08.10.09 Action Reyucstcd EDA budgetdoc N w a O~ O O H N W a w w x [~ > v~ ~ H x .~ a a M O ~ 3 ~ .] F ~ W W C7 W O W Q W N w O F W H O v~ u w 1 O a a 4 0 H 0 N I [~ ~ W F ~ E W ~ O a w i W a Q a N F U N ~ H m W W o a [Cq]~ N ~ b V Cq i q i W h ~ D W ~ O C7 a a ~ W W ~ ~ O 'J o H N U Q r o p o F N U O O o H N U N d' m 0 O N rL VJ W W in o W 0 `~ ~ a O O O O O O O O O O 0 0 O O O O ~ ~ N ~ N N M M M M o N o N M M w a' o 0 o m o r o 0 d' V' O O M O O d' V~ ~fl N ~p lD ifl ~I1 lfl lf1 H H ~p ~0 M M ti ~ O O O O O O O O 0 0 0 0 O O O O O O O O Ifl Ifl r r N N M M O O d' C N N 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ~n vi r r N N M M O O N N C C N M O M M N N Ifl O Ifl CO H O~ O O ~ H m m r m~ 0 0 N OJ N N d' N lf1 Lf7 H ~-1 OD OD d' C M M N tD N N r r ~n ui a o H c H w o m a~ m o o 0 0 Ol 01 H H M M Ifl lf1 r r vi ui ui ui ri ri d' d' M M H H N N 1D iD C O C N O N 0 0 N N 0~ O1 C' d' O O H H C a' N N if1 N N N d' d' N N M M 0 0 M M ~ H ~ ~ O O ~ b r r C d' .~ W tD O O r r 0 0 N N O O O O lf7 N N N M M d' d' 0 0 0 0 ~ ~ N N M M d' d' rl .~ m w rl N CO O] H H d' d' ~ ~ ~ ~ m m ri ~ rn m M M N M M M N N X ro F N 7 E N G v N L '~ }I G N o ro ~ a .H N > E O a o ~ r+ a o ~ a ,~ u ro c ~.+ o ~ u ro N C v a N ~ w i U) N ~ N N U N G N U C H C.' a > [ N U £ O> I- I ~ F to a W H ~-1 VI L [,' N N b1 N C S-1 H O~ N N }-I m W N H N M K N E M M U) M M L U) ~ lp lp N M M ,C F'i ~ C. M ro ro a ~ c u H ~, o f O S+ N o o H O O N > o 0 0 0 0 N o f O 1 Q O .] > 0 0~ N O O a S~I O a W o FC O o o a o o /.~ Q N o FC Q a i U1 M 0 11 M M O 1i M M U1 M !f r.C a X o E a~.~ o o H ~ o o H b o H O Q II ro N ('. N N AJ N N S-I N [-+ W II F Ol H 01 01 O 01 O~ f+ 01 W W .a~ F O H O H O N N 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 W H lfl 0 0 lfl lfl o Ifl 0 m 1p N r M m M m 0 0 0 0 N N O Ifl M N H H N H 0 0 0 0 0 0 0 0 0 0 0 O O O O N O O H ~I1 r O N r 0 0 0 0 0 0 0 0 0 0 0 N N N [~ ifl lIl o ifl N /1 ~ H W 01 N lD lf1 .-I O~ ifl d' N r1 d' O O m O m N N m N H ~fl r ri ~f1 eft O H W i V] U' r H H H H lf1 Ifl N N ri ~ ~ Q ~ H a ~ a m w a 01 O N W O U1 r 1p M d' O a} O d' O 0~ N r O O d' W ifl r M d' Ifl N lp Ifl N O H M O V1 a Q~ r N l0 M Lfl H N 01 1f1 If1 N N ' O o l O -I H M if1 M 1 m .'7. d M Ifl r . 0 N m l(1 H F H U N ~ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 N O O O lfl O lfl Ifl O lf) tf1 O O O O O O O O O i [-~ 7 F d' lD Q~ m M m M N r rl m O O N O r lD ~O N r . O~ W W O N ~f1 ifl rl O r N N O m N m m r-~ o a C7 m ~ H .-~ r+ in in o a fa .-+ N 'J D~ w 0 0 0 0 0 0 0 0 0 O O O O O O O O O O O O W F ~n 0 0 0 ui o ui ui o ui ~n o 0 0 0 0 0 0 0 0 > W a ~D 01 m M m M N r H m o o N o r te ~o N r O C7 a Q O N lfl Ifl rl O r N N O m N m m rl a .7 m ~ ~ .~ ~ in in a w ~ M ~n m H in in H m r ~ r ~ ~n M o M m m m 01 N in ~n m ~n m N m ui o M m M ~n r V' M d' m o m m tD If1 t0 M O O N r l0 r C O m N 0 \0 N M p '„7 o f m N C a~ .-+ m m M M io e' m r H m N U ~ ~o H ~+ ~-+ 0 0 H N W a w i ~ > v i H x ,-~ o 0 0 o m c m o o ~o r M M ui o m m M io r m a a M N o m o M w r r r M ~ N ~o ui a~ ~ ~~ m l0 lD d' m 10 N N U1 l0 N m m N H .-I H C $ H r ~ P4 V1 O .7 ~I1 N d' d' O~ m N N rl N H H W W C7 N U H U Q ~ w ~ ~ O W q w W O H V j H O vv~~ M o o H Oi d' O If1 M m H o H r m vi e' m Ifl Ifl m ui rn w o lp N Ifl M r o N r io w m if1 lp in o r u a RC o M ~o vi ~ o e~ N m o ~-+ a r in in M o p a a ~ o p M N d' d~ .i r M r H o M M 01 H O c H o H ~-+ N U a 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o O O O 0 0 0 0 . 0 0 0 0 0 0 0 0 0 0 0 0 O 0 0 0 . 0 0 0 M O 0 0 0 0 0 0 0 0 0 0 0 O 0 0 0 N ti m O 0 0 0 0 o N o o O 0 0 0 0 0 0 0 0 0 0 0 0 0 ui U .C '~ U W N W b1 m C w N ri G ' H N JJ Q ~ u ro rn u v ~^ C C x x v o w v H ~ m ., v, a a v -N \ N ro -' ~ U ~.i >v ro GL >. m a E rl VI a A b Vl N w r-I c v c '.+ c rn .~ UI N U s+ ~ ro a o m w c N row ro b o q ro rn o rn .4 a v v u v c N a v r+ o .~ a v u '.+ E c m c u v c v E v v u s+ E '~ w c m -.+ ~ v i w N v s+ a i c ~ ~ v w x a cn o v- '.+ v ,~ a ~.~ c ~.~ u u~ w o c v c r-I ai i U N N N U u1 CL U7 N~ ro N C >v CL ro v N C •~ N .C 7 N '~ N a.~ C Sa a~ r.C ~C '~+ 7 ,k N '~ v E ro .-i rtl ro P~ N rtf a~ v u> v to w S~ m m ~ m C N d c v rn v s~ a u ro u, s~ m v> row H v a o w .~ o ~+ v ~+ w H U v c v ,c rn ,c s+ '.. ~ u, ro> '.~ o .~ ~+ u v m u w~ v o s s ro u v c L v ~n v ~ u, N E a ~n a o a a w£ H~ ,H v ro ~ o a E w a ro w a m v , ~ , v a c o ~'~ F a H FC v a a~~ w u, '~ o c u c c ~ u m v a ~.~ H w c o d' O U H N M V' N r m 01 ~ H a U N ~ ~.i v .n v c N C W O~ b1 '.i H N H Ol >+ '.~1 N N v e> ., .C b1 N U1 O~ O H M ~.+ N ~ '~+ 0 0 0 0 0 0 0 0 0 o m ti b ~ m o ~+ ro C N N M V~ U +~ ~ +! E U C w ui C A M CL H N > H H H r1 H ri H H W N N .-1 N v Ai N M ~ M E ro M M M M ~ '.i ~r1 11 Lr. '.i -r1 rl M M C Si 'rl .1 > N S-1 V' C d' C d' C C d' 11 C N U N C ro a U C C H N C C cM d' •.i G' w N >~ 7 L N C U C C v SJ m U) q W U) ~ i i i i i i i v O o 0 0 0 0 0 0 o a ~ U N ~+ i b o ~.~ ,-~ ~,~ o v C m '.i i i w i i i i N 7 la ,H f~ >> o U o >, o 0 0 o E v N ro ~ v O .~ i .~ i i x E u o~ o o ,p U £ E N o o U ~ ,-a .-i .-i ,-r H ~ ~ ~ ri N N N N N N N N .'+ w W [n ~ ~ W N W v '•i N C a Sr ~ ~ .i ~ W ~ H ~ H A E > 3 u 1 N ~ N N - i H N N N N v O b v O w N O v .i H ~ a b U ~ ~ ro N FC ~~+ H ro ~ io ~ io ~ ~o io ~o ~ N ~o O a q ~o Q Q . . m io £ ~ U H ~o ~ ~o ~0 3 U RC 2 a CL N N N fA £ a m ~ a ~ ~ Q ,C W U vI G1 E q C ~ ~ ~ ~ ~ i ~ ~ F '~ H in W O 2 O w c a~ c a~ w r T O .-~ w a~ O s+ ~ a~ a~ C <r C v~ w o~ ~ 0 0 W tNi o 0 0 0 0 0 0 o H o o H ,~ 0 0 0 0 0 0 0 0 0 m N U X N N N N N N N N N ~ N N 1J N N N N N N N N N m W W a m m rn m rn m m m m m m O rn m m rn m m rn m m M w a O O F N W P' W - W 5 F > m cn H x H a a M 3 F ~4 vl a F a w o a W ~ ~ O W q w r w o u °a `~ O a a o '~ 0 N ~ W E I F W I vl C7 yaw . w . x ca a '.7 F F U N ~ I F z F m W W O N rrr~~~ U W I Q I W F I > W I O C7 a a m I a' m O ".] o F N U r o p o F N U~ o H N U 0 0 0 0 0 0 0 0 0 0 d' O O C O O ~ io .-~ r r C H m ul o 0 a io 0 0 H o 0 ui r r r H H O O O O O O O O O O O O ~ ~o r r C H H H O O O O 0 0 0 0 0 0 0 0 ~ ~ r ~ w H H H O N O O o M o 0 O N O O ~ ui r r d' H H o m o 0 0 0 0 0 In r o 0 m ~ r r N H H m .i o 0 N W O O lp M O O m N r r ~ ~ ~ O O O O O O O O ro C W w C E N C1 c O H ~ N > ~ v w o o a p o u F N Q,' rl H q q In w O z o I C W m o O N U W X w w N U rl ~ ~ N RS 7 A N C U v () ~ q ~~ ~ ro L ~+ .-a ~ ~ v .H A N N -.a u U H ~.i w ~ rn 7 C'. O ~ .i Li ll N ~ O U7 F ~+ U V1 N o d' A YI rl w N N w w C ~ m b . a ,~ o I s, O o ?, O o f ~ z ~ n a v ~ O O c' F o rn C w I F b o N ~ SI N F ~ to M ro N M m c w O O rl ~; N O 0 r~ N H N m N a' H tP ro L C E CL 0 N Q U O c 0 w O F II II II II u II u II o u o II ul a ul n M II N II • II - II m u rn u r II N II ry II H II II 11 II II II II II II II II M II 01 II N II Ol II rl n m II . II - n d' II N II d' II lD II ri II II II II II II II II O II O II O II O II .~ II d' II • II II M II 01 II W II C II N II r-1 II II II II II u II 11 II O II O II O II O II ~ II c n . II u M II 01 II m II w u N II H II II II Ii II 11 II II II ~O II C' II r II o n ~ II ~ II • II II lfl II N II l0 II N II H II N II II II II II II II II II N II N II m u ~ u ul n M u n u ~ u r n Ifl II M II H II N II II II II II II II M II m II H u a II 111 II W II II II to n .~+ II OJ II Ill II rl n H II II II II II II II W W F ncH !w W a x w 0.' caq (zW~ D a F H ~ a w w > a o ,W FC W F > o a RESOLUTION 09 - A RESOLUTION OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY A RESOLUTION ESTABLISHING THE TAX LEVY FOR THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF ELK RIVER, MINNESOTA WHEREAS, Minnesota Statutes, Section 469.107, Subdivision 1, authorizes the Economic Development Authority to levy an amount not to exceed .01813 percent of the taxable market value in the city to fund the Authority's anticipated budget needs for the fiscal year 2010; and, WHEREAS, the Elk River Economic Development Authority will adopt and approve its budget and will forward such to the City of Elk River pursuant to Minnesota Statutes, Section 469.100, Subdivision 2. NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority in and for the City of Elk River, Minnesota, that it hereby requests the City Council of the City of Elk River to levy a tax in the amount of .01813 percent of the taxable market value in the city fox the year 2010 for the benefit of the Authority to be used for Economic Development Authority purposes as provided by the statute. Passed and adopted by the Elk River Economic Development Authority this 10`" day of August, 2009. Patrick Dwyer, EDA President ATTEST: Catherine Mehelich, EDA Executive Director S~\]3DA\DOCUMENT\RESOLUTIONS\EllA levy Resolutions\L:DALf:V2010 Rcsol.doc June 30, 2009 Mayor Stephanie Klinzing City of Elk River 13065 Orono Pkwy NW Elk River, MN 55330-5600 RE: 2010 Budget Request for Initiative Foundation Support of $5,000. Dear Mayor Klinzing and Members of the Elk River City Council, INITIATIVE FOUNDATION Amid this current economic storm, please know your friends at the Initiative Foundation appreciate the difficult budget situation facing your city, and the weighty decisions you must make. Against this backdrop we are writing with confidence to ask for your continued support of our mission and work. Like you, we are still here and still fighting for our neighbors, friends, and their home towns. The Initiative Foundation remains focused on strong local economies and vibrant communities. Our business financing programs have helped to secure 380 quality jobs in your county. Our grants and leadership programs are providing a safety net for important nonprofit organizations, supporting at-risk businesses, and indirectly assisting displaced workers. Our planning programs are encouraging increased citizen engagement, helping local governments remain focused on their goals, and preserving the region's precious natural resources. Our early childhood and youth leadership programs are preparing central Minnesota's future workforce. Since 1986, donors in Sherburne County have received a whopping 473% return on their Initiative Foundation investments, in the form of grants and economic development loans. This does not include significant growth of business tax-base or a host of other benefits and savings. In light of our twenty-three year performance history and demonstrated impact, we ask that you consider your Initiative Foundation as an investment that transcends the current crisis. Your gift will once again earn adollar- for-dollar McKnight Foundation match, immediately doubling its impact at a time when it is so needed. Within this mailing please find an Impact Update, providing a broad overview of Foundation support since inception, a County Project List, with detailed information for Sherburne County, and a few Fact Sheets describing programs that may be of interest to you and your constituents. G-~ We respectfully ask that you consider our request for $5,000 from the City of Elk River in 2010. Thank you for your consideration! Si cerely, rt Hanson Vice President for Donor Services cc: Gene Waldorf, Chair, h~itiative Foundation Board of Trustees Kathy Gaalswyk, President b(1 ; !~uit~r Sr!u~: rrr ~It I.rrri.r: hni.is. MN ~(93i15 1:()t'nl. ()I'I'(~I:'I'I'\I'1'\ I.I~:NI)I :1:. I'It(1\II)I~;IZ i\\'I) I': ~II'I.<1\I:1:. 2008 Minnesota Statutes 469.191 CONTRIBUTIONS TO REGIONAL OR LOCAL ORGANIZATIONS. A home rule or statutory city or town described in section 368.01, subdivision 1 or la, may appropriate not more than $50,000 annually out of the general revenue fund of the jurisdiction to be paid to any incorporated development society or organization of this state for promoting, advertising, improving, or developing the economic and agricultural resources of the city or town. History: 198y c 165 s 1 Copyright ©2008 by the Office of the Revisor of Statutes, State of Minnesota. All rights reserved. ~ N ~ l ~ Qj ~ a ~ O U/ O) ~ ~ OD ~ y ~ _ ~ ~ 'C O Ch y ~ M O O O M (` p i a W f0 ~ ~ ~ i ~ O~ m e o O ;° c ~ o ~ c E ~ p O j CV c~ c co ~ °~ W ~ p 0~ ~ ~ N ~ m p O j ~ coo °~ ' N O ~ _ ~ O O f 0 m ~ ~ o ~ O N ~ W d o ~ ~~ o ~ r0 ~ f0~ ~ ~l EiT ~ m ' p O r b9 N > O ~ LL j t 0I '.' EA ~ '- ~ O p 0I E+9 N > G O O EA ~ ~ G ~ c~ o ~ ~ • c a c 'co a"~ c ,.O„ t ._ E~ w a rn .5 a o C 6 L c (}6 C~ m ~ c °' ~ •a w 6 c CEO Co C c a rn e a E ~6 t C w C E O fa N C O w L a+ O C G O ~ } *. ~ ~+ N 07 i0 ~ ~ .. ~. ~. C Q ~' L r ~. In V ~ ~ O C C N COO rn CO O O~ W ~ o ~ U C N a0 g w 0 ~~ O~ Q ~ U C N~ io a U rn O ~ 1~ c ~ C N CO ~ y N O ~ Obi ~ U C N (NO ~ ~1 O fC O ` O y p f0 j v ~E ¢ QI y O f0 O LL ; O O f0 ~ ~ O y O (6 N a~ p~ N N CNO ~ U~ ~ N~ d C N m ~ ~~ U d04 a O O f1O d V m ~ f(''~ER ~ N ~~ C R y 01 N m ~~ U~ U'~ 00 N ~_ ~ ~~ M U EA A .... ..... .. ..... .... ..... o ' ~~ ~~ N~ ~L ate ~~ V ~V OV V ~V Y ° ~ ~ t m oc°o~ ~ ~i rn °'~~ ~ ai cYi°°~ m of o o vi rn a c~o~ ° `~° ' ~ rn ~°a~ ~oiao °-~ ~ao ~ °~ ~~i ~ > ~~ ° °~ g ~ r~~ ~ _ l0 COO ~ N ~ N .y.. ~ CO ~ ~ ~ w ~ _~ N ~ N tT C O ~ ~ ~ N N N ~ N ~ ~ N 'O > m~cn 'O > ~~cn ~' O C6 ~~c ~ Efl 'O > _ c co 'O > m~c C C (0 C (6 C (0 C • (6 C a n nvi c f0 y •~ ~ C m n N C B C O w ~ ~ ~ +~- ~ ^ ~ (6 ~ c ~ L O ~ O m ~ ~ ~ O y~ 0 0~0 y~ 0~ O y~ 0 0 w~ y 0 000 ~ y~ p ~ ~ y c7 ~ y -O Oi ~ ~ N O C y O ~ N O N O -O O~ y ~ O 'pN r ~ N N O ~ N ~ N ~ d O 0I (6 O D N ~ N ~ ' ~ ~I L O . O C1 ~ N CO ~ ` ~ f0 ~ ~ ~ N U) V~ • • • • N F U ESA • • • • ~ N U~ • • • • ry ~ Ch ~ V~ m • • • • • M V 69 • • • • V ~ N M O O L O O O W V V U oV V V L / ~ V ~ w ~ +' C ~ N ~ U O p O t N C 'O U O C ~ O ~>~ ~ C c•~ i ~ rn ~ N~ m ..,~ (0 O t a v ., a~ N ao V U N O y u O L C C C ~ ~ ~ ~ c ~ y C w Z Q '~ C ~ N _ > ~ (~ C~ ~ O 'D C (p .a y O y O LL ~ -p C O >, ~ N ._. E N V C N ~ y m .C y N ;~' N ~ O y f0 f0 '= ~ .~.. ~E- ~ a-a °~ m°~SW ~ a' ~ o rn c > > c E rn~U Q ~ Q ~ o N O ~ Z C `~ O C ~ E V C E O O a C C r~1 Z w L U~ j N d ~ a O U} ~ O y U~ U O E N ~ C ~1 V C N a U C O T w c Q " ~~ G z O~ NJ U_ t0 ' ~ C N~ L L 'p O fn 'O C A L 'd y 0 E~ O .y O O O C_ O- O G7 E N O .N 0 (0 O O C L C N w d~ N N O U :~' .CO O« ' ~ C 4. .O N .O me U L (p L p . . U L C C c ~ LL ~~,.- ~WYUO~i v, W oc;no- ~ co > ca yo~~Na~ ~ ~ ' - a tv~os C O C O y 7 V O '+. (0 p '"' ~+ c0 `'' m L O J U LL LL Q •y C ~ tL . . . . . O C ~ N ~ N C_ ~ ~ y p ~ C_ C +~' N rn N m ~ N ~ ~ ~ ~ N ~ > d eF N O > N ~ ~ OD O ~ to lC) C'7 ~ ~ O) N .~. ~»~i c ~ rn~~.> 5 rn c a ~ • S p~ c $. • • io c m c~ O f6 ~ J ~o C m c 0 ~ t ~ y ~ ~ y . o . ~ ~ O W a W C d N ~ O (O + - N C N GMD c ~ ~ ~ ~ N M cNOU » g . . . . d Oi ~~U~ . . . . d ~ ~~ • 3 ` V V ~ ~$ o ~ ~ ~cop~~ m M O N O O~ N~^ ~> ~ N C B N N e ri ~ w O OV a0 y ~ 3 > ~ ~ ~ $ ll ~ C C n N C h O1 ~ J O. fl. W~ N p p ~ O~~ c .N. y 0 0 ~ E +y-~ ~~ O N m ~ ~ ~i rfOi Of . ~ h `~° v ~ a~i ~ 3 y O) UJ ~ O m O ao a ~ v ~ ~ ~~U~ ~ N c oU~ ~ ~ ' C p 0 ~ dU ~ E rn ~` O p a n• a p. N N t ~ ~ ~ ~ c c a ~ .C d N N Laa C ~ O C ~ O 'r'-~ ~' •~ ~ ~ N ~ f0 d'C'p C ~ O w y C 0 O L Y 3 L p3 'd ~' 'Jt I- V ! ~ ~ U W ~ N a d C ~,O N N w O M Np jLn O ~ a~ ~~= ~ L OL ~ ~~ NNE o ' ' J N ~ _ ~.. c mZ ~~g 0 c O ~coN ~~~ ~ Q ,C m ~ rn ~ ~O ~.- ~ ~O o M N~ Z N .+ O ~ (0 > ~ ~ M O ~ rn~~w ~~ ~ ~~ X O` ~ O N C~~ L ~ lL W N N 7 f6 ~ ~ ~ N O O • J a f' C ~:_. t CN ~ ~ O •~ ~ C ~ ~ ~ •U O ~~ m O d «p 7~ y ~' C C7 C~ C M N~ p N C C ~ O ~ ~ (O C ~ p QY LL E+9 O O fh :~ O C f0 ~ ~ O = 0 N O O N C O O p ~So-~E~yN OU N ~~ N C~~ fd~O~~A o `m mrn O ~ a~~a~~ O N p a 0 d N F L ~~ C d > C C N d I~ C. C~ pp ( OMO O O ~ ~pO~O ~ d ~ ~ O~~ NO'CN O V M Opp m'O O • • • • N C O '~ O 'O • o a~ '0 3 ~° ~ a~°i ~~Q~~Ud to . 0 M a Initiative Foundation Return on Investment, 1986-2008 Count Resident Donations* to Initiative Foundation 1nrt~ativ~e Founda~vn In~r~ent~""~` in County ROI Benton $275,000 $3,121,000 1035% Cass $474,000 $3,264,000 589% Chisago $318,000 $2,387,000 650% Crow Wing $1,013,000 $7,999,000 690% Isanti $1,029,000 $2,326,000 126% Kanabec $103,000 $894,000 766% Mille Lacs $504,000 $3,038,000 502% Morrison $987,000 $4,259,000 331 Pine $505,000 $2,382,000 372% Sherburne $625,000 $3,583,000 473% Stearns $903,000 $10,946,000 1112% Todd $677,000 $2,843,000 320% Wadena $283,000 $2,771,000 877% Wri ht $468,000 $3,961,000 746% TOTAL $8,166,000 $53,?73,040. 559% *Rounded numbers include individual, business, government, and utility donations. **Rounded numbers include nonprofit grants, business financing investments, and scholarships. Updated: January 2009 it i Projects Funded in Sherburne County (through 4130/09) RECENT GRANTS AWARDED ... ORGANIZATION NAME FCY 2009 Caring Rivers United Way, Elk River Friends of the Elk River Library FY 2008 Caring Rivers United Way, Elk River Central Lutheran Church, Elk River * City of Big Lake City of Big Lake Command Performance Choirs, EIk River * Community Chest Foundation, Rogers Elk River Area Arts Alliance * Elk River School District * Elk River School District Elk River School District * Elk River Senior Center * Elk River YMCA Friends of Sherburne National Wildlife Refuge, Zimmerman Ivan Sand Community School, Elk River New Pathways, Inc., Cambridge Palmer Township, Clear Lake RiteCare Clinic, Elk River * Sherburne County Social Services, Elk River The 2001 Committee, Inc., Elk River FY 2007 Caring Rivers United Way, Elk River Caring Rivers United Way, Elk River Central Lutheran Church, Elk River City of Big Lake Command Performance Choirs, Elk River ** Elk River School District ** Faith in Action in Greater Sherburne County, Big Lake Hoofbeats and Heartbeats, Inc., Elk River Rogers School District ** Sherburne County Social Services, Elk River FY 2006 Boys & Girls Club of Elk River * Caring Rivers United Way, Elk River Elk River Area Arts Alliance Faith in Action in Sherburne County * Palmer Township, Clear Lake Sherburne Soil & Water Conservation District Special Olympics of Elk River * PROJECT TITLE Communication and Outreach Display Wall for Children's Area & Books "The Next Best Thing" Community Forum Community Thanksgiving Dinner Eco. Devo. Finance Professional Certification Transit Oriented Development Planning Svcs. Spring Chorale Series Self Protection Classes Main Street Storefront Alcohol Awareness and Prevention Arts Magnet Program LEGO Mindstorms Fitness Equipment Leaders Club Fund Development Planning and Training Music Lab with Michael Monroe Building Phone Conferencing Capacity Water Quality Data Summit Video Modeling National Youth Behavior Modification Program Promote Civic Engagement Healthy Organizations Partnership (Multi-year) Maximizing the Potential of Our Community Forum Assistance for the Homeless Enterprise Network System Analysis Girls Choir Professional Artist Series Ongoing Support Indoor Riding Arena Guest Artist from the Clay Empire Volunteer Bridge Information and Referral Youth in Community Program INITIATIVE FOUNbATION AMOUNT $2,500 3,000 1,000 1,500 2,000 5, 000 1, 000 1,435 2, 000 2,500 2,500 1, 700 2,000 5,000 2, 500 1,400 2,500 1,000 1,000 1, 865 1,000 5, 500 1, 000 200 7,500 1, 000 1,800 5,000 3, 700 1, 500 2,000 1, 600 500 1,700 1,600 2,500 5,000 1,600 Demographic Community Forum Art Crawl of Mississippi River Artists Caregiver Program Township Planning Briggs Lake Chain Water Sampling & Poll. Prevention Special Olympics Team FY 2006 -PRESENT (38): PRIOR YEARS (160): TOTAL GRANTS (198): $88,100 $707,994 $796,094 SCHOLARSHIPS AWARDED ... FUND NAME RECIPIENT/COMMUNITY AMOUNT FCY 2009 Three Rivers Community Foundation* Anoka Technical College $1 000 FY 2008 , Charity Evenson Memorial* * 2008 Awards (6 awards) 3 000 Powell Scholarship Fund 2008 Award , 500 Three Rivers Community Foundation* * 2008 Awards (19 awards) 20 000 Zimmerman Lions PTO Westwood Elementary (4 awards) , 800 FY 2007 Charity Evenson Memorial* 2007 Awards (8 awards) 4 000 Charity Evenson Memorial* * 2006 Awards (8 auvards) , 4 000 Powell Scholarship Fund 2007 Award , 500 Three Rivers Community Foundation* * 2007 Awards (20 awards) 22 000 Zimmerman Lions PTO Westwood.Elementary (4 awards) , 800 FY 2006 Powell Scholarship Fund* Elk River High School 250 Zimmerman Lions PTO* Westwood Elementary (4 awards) 725 FY 2005 Charity Evenson Memorial * * Additional 2005 Awards (8 awards, $500 each) 4 000 Charity Evenson Memorial Anoka Technical Coflege , 500 Charity Evenson Memorial* Crown College (3 awards, $500 each) 1 500 Charity Evenson Memorial* Northwestern College , 500 Charity Evenson Memorial* St. Cloud State University 500 Charity Eventon Memorial* * University of Minnesota (2 awards, $500 each) 1 000 Powell Scholarship Fund Elk River High School (2 awards, $250 each) , 500 Zimmerman Lions PTO* Zimmerman Elementary (4 awards) 725 FY 2005 -PRESENT (99): $66,800 PRIOR YEARS (62): $27,175 TOTAL SCHOLARSHIPS (161): $93,975 * Denotes grant and scholarship awards made by the Three Rivers Community Foundation a component fund of the Initiative Foundation, which , serves needs and opportunities generally within Independent School District #728. ** Denotes grant awards made by The Josh Richardson Youth Arts Fund memorializing Josh Richardson by engaging Three Rivers area youth in art activities and exposing them fo art education. ~- .' RECENT BUSINESS FINANCING INVESTMENTS: BUSINESS NAME BUSINESS TYPE LOAN TYPE FCY 2009 Tropical Brew, Big Lake (M&I Bank, Hopkins) Retail Coffee Shop Start-up FY 2008 Biornatrix, Inc., Princeton Development and Manufacturing Expansion FY 2006 Gordon Training Center, Princeton Horse Training, Showing and Breeding Start-up (The Bank of Elk River) PK Partners, LLC, Elk River (The Bank of Elk River) Distributor of Wastewater Treatment Systems Expansion FY 2005 CDC Enterprises, Inc., Elk River Plastic Duct & Insulation Development Expansion (Peoples Bank of Commerce, Cambridge) D's Pizza Paradise, Becker (State Bank of Delano) Take and Bake Pizza Expansion FY 2004 Advanced Extrusion, Inc., Becker Manufacturing Expansion K-Netica, Elk River FY 2003 Software Development Expansion K-Netica, Elk River Software Development Start-up Meadow View Townhomes of Zimmerman Affordable Housing Project Start-up FY 2002 A.J. Machinery Company, inc., Big Lake Equipment Distributor Expansion (The Bank of Elk River) Advanced Extrusion, Inc., Becker Manufacturing Start-up (Associated Bank, Plymouth) Injection Mold Technology, Inc., Big Lake Manufacturing Expansion (First National Bank -Elk River) FY 2001 Cymbet Corporation, Elk River Mfg. Lithium-ion Rechargable Batteries Start-up FY 2000 Eighth Street House, Big Lake (Buffalo National Bank) Group Foster Home Expansion Raymond P. Chock Trucking, Elk River Independent Truck Driver Start-up (The Bank of Elk River} FY 1998 Windmark, Inc., Zimmerman (Breda Savings Bank -Breda, IA) Design/Mfg. Rescue Air Boats Start-u FY 1996 p Marketech, Inc., Elk River (First National Bank -Elk River} Electronic Testing Sen%ice Ex ansion P FY 1996 -PRESENT (24): $2,161,700 PRIOR YEAR LOANS (15): $348,300 TOTAL LOANS (39): $2,510,000 Total Business Investment Leveraged: $15,262,955 Total Jobs Created or Retained: 380 GRAND TOTAL OF GRANTS, LOANS & SCHOLARSHIPS IN SHERBURNE COUNTY $3,400,069 For business start-up and expansion projects, Initiative Foundation Business Financing Investments meet the "gap" between the financing a local lender is able to provide and the equity the owner is able to contribute. By offering gap financing to supplement owner equity and taking a position as a subordinate lender, Initiative Foundation business financing programs are a tool to help lending institutions better serve local businesses. 3 B-OS-2009 11:42 AM CITY OF ELK RIVER PAGE: 1 BALANCE SHEET AS OF: JULY 31ST, 2009 240-MICRO LOAN FUND ~~ ACCOUNT # ACCOUNT DESCRIPTION BALANCE ASSETS 240-1010 Cash - Micro Loan Fund 828,203.55 240-1150 Accounts Receivable 50,000.00 240-1190 Notes Receivable 640,615.09 1,518,818.64 TOTAL ASSETS 1,518,818.64 -------------- -------------- LIABILITIES 240-2080 Due to Other Governments 127,054.26 240-2220 Deferred Revenue 513,560.83 TOTAL LIABILITIES 640,615.09 EQUITY 240-2400 Fund Balance 803,828.53 TOTAL BEGINNING EQUITY 803,828.53 TOTAL REVENUE 77,175.02 TOTAL EXPENSES 2,800.00 TOTAL REVENUE OVER/(UNDER) EXPENSES 74,375.02 TOTAL EQUITY & REV. OVER/(UNDER) EXP. 878,203.55 TOTAL LIABILITIES, EQUITY & REV.OVER/(UNDER) EXP. 1,518,818.64 -------------- -------------- B-OS-2009 11:42 AM 921-EDA DTED ACCOUNT # ACCOUNT DESCRIPTION CITY OF ELK RIVER BALANCE SHEET AS OF: JULY 31ST, 2009 BALANCE ASSETS 921-1010 Cash - EDA DTED ~~..,,,,/~++~~ 921-1190 Notes Receivable G.CJL/~ /dYZ TOTAL ASSETS LIABILITIES EQUITY 921-2400 Fund Balance TOTAL BEGINNING EQUITY TOTAL REVENUE TOTAL REVENUE OVER/(UNDER) EXPENSES TOTAL EQUITY & REV. OVER/(UNDER) EXP. 183,851.28 30,236.77 214,088.05 213,693.60 213,693.60 394.45 394.45 214,088.05 PAGE: 1 214,088.05 -------------- -------------- TOTAL LIABILITIES, EQUITY & REV.OVER/(UNDER) EXP. 214,088.05 -------------- -------------- B-OS-2009 11:42 AM CITY OF ELK RIVER PAGE: 1 BALANCE SHEET AS OF: JULY 31ST, 2009 241-DYED LOAN FUND ACCOUNT # ACCOUNT DESCRIPTION BALANCE ASSETS 241-1010 Cash - DYED Loan 151,531.91 241-1190 Notes Receivable ZO_~0C$ L 500,000.00 5P ~£ ~ 651, 531.91 ~j~Y~~?/~/~/~'1 TOTAL ASSETS 651,531.91 -------------- -------------- LIABILITIES EQUITY 241-2400 Fund Balance 644,676.26 TOTAL BEGINNING EQUITY 644,676.26 TOTAL REVENUE 6,855.65 TOTAL REVENUE OVER/(UNDER) EXPENSES 6,855.65 TOTAL EQUITY & REV. OVER/(UNDER) EXP. 651,531.91 TOTAL LIABILITIES, EQUITY & REV.OVER/(UNDER) EXP. 651,531.91 -------------- -------------- B-OS-2009 11:42 AM CITY OF ELK RIVER PAGE: 1 BALANCE SHEET AS OF: JULY 31ST, 2009 245-DEVELOPMENT FUND ACCOUNT # ACCOUNT DESCRIPTION BALANCE ASSETS 245-1010 Cash - Development Fund 102,427.92 245-1150 Accounts Receivable 148,647.42 245-1310 Due From Other Funds 195,536.22 446,611.56 TOTAL ASSETS 446,611.56 LIABILITIES EQUITY 245 2400 Fund Balance 433,718.91 TOTAL BEGINNING EQUITY 433,718.91 TOTAL REVENUE 123,188.89 TOTAL EXPENSES 110,296.24 TOTAL REVENUE OVER/(UNDER) EXPENSES 12,892.65 TOTAL EQUITY & REV. OVER/(UNDER) EXP. 446,611.56 TOTAL LIABILITIES, EQUITY & REV.OVER/(UNDER) EXP. 446,611.56