HomeMy WebLinkAbout1992-043 EDAR1
1
Member Celia Scott introduced the following resolution and moved
its adoption:
RESOLUTION APPROVING THE FINAL BROOKLYN CENTER ECONOMIC
DEVELOPMENT AUTHORITY BUDGET FOR THE YEAR 1993 PURSUANT TO
MSA CHAPTER 469.107, SUBDIVISION 1
WHEREAS, the Brooklyn Center Economic Development Authority has
considered the attached final budget and finds that this budget is
necessary for the operation of the Brooklyn Center Economic Development
Authority during the year 1993:
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority for the City of Brooklyn Center that the attached budget of
the Economic Development Authority for said City is hereby approved.
BE IT FURTHER RESOLVED that a copy of this resolution, together
with the attached budget, be submitted to the City Council of the City
of Brooklyn Center.
December 10, 1992
EDA RESOLUTION NO. 92 -43
Date President
The motion for the adoption of the forgoing resolution was duly seconded
by member Philip Cohen and upon vote being taken thereon, the
following voted in favor thereof:
Todd Paulson, Celia Scott, Dave Rosene, and Philip Cohen;
and the following voted against the same: Jerry Pedlar,
whereupon said resolution was declared duly passdd and adopted.
1
REVENUES
RESOLUTION NO. 92 43
GENERAL PROPERTY TAXES
Tax Increments
OTHER SOURCES OF FUNDS
Sale of Bonds
TOTAL REVENUE OTHER SOURCES
EXPENDITURES
E.B. Farm T.I.F. District:
Hennepin County Admin. Cost
Legal Services
Internal Borrowing Interest
Earle Brown Farm Project
Brooklyn Farm Parcel 2
E.B.H.C. Projects
Total E.B.F. Projects
OTHER FINANCIAL USES
Transfer to Debt Sery 85 Fund
Transfer to Debt Sery 91 Fund
Transfer to E.B.H.C. Fund
Total Other Financial Uses
TOTAL EXPENDITURES OTHER USES
Fund Balance, January 1
Fund Balance, December 31
ECONOMIC DEVELOPMENT AUTHORITY OF BROOKLYN CENTER
EARLE BROWN FARM T.I.F. DISTRICT
ANNUAL OPERATING BUDGET
1991
Actual
1,377,594
5,996,855
7,374,449
693
71
229,446
109,039
20,077
333,425
692,751
475,000
728,732
359,125
1,562,857
2,255,608
(7,560,062)
(2,441,221)
As of
8/31/92
1992
Budget
663,345 1,308,500 1,196,750
663,345 1,308,500 1,196,750
1,041
160,000
11,540 15,000
195 38,032
64,685 136,279
77,461 349,311
308,102
620,000
186,672
1993
Request
1,100
170,000
171,100
560,000
640,000
339,456
0 1,114,774 1,539,456
77,461 1,464,085 1,710,556
1993
Adopted
1,196,750
1,196,750
1,100
170,000
171,100
560,000
640,000
200,058
1,400,058
1,571,158
(2,441,221) (2,596,806) (2,596,806)
(2,596,806) (3,110,612) (2,971,214)
RESOLUTION NO. 92 -43
REVENUES
Convention Center:
Room Rental Revenue 217,729 172,274 410,000 410,000 410,000 410,000
Food Beverage Revenue 62,065 32,613 65,000 100,000 100,000 100,000
Equipment Rental Revenue 36,327 24,808 40,000 30,000 30,000 30,000
Other Revenue 26,788 32,815 37,000 60,000 67,000 67,000
Special Events Revenue 90,000
Inn on the Farm:
Guest Room Rentals
Food Beverage Sales
Other Revenue
ECONOMIC DEVELOPMENT AUTHORITY OF BROOKLYN CENTER
EARLE BROWN HERITAGE CENTER
ANNUAL OPERATING BUDGET
1991 As of 1992 1993 1993 1993
Actual 08/31/92 Budget Request Recommend Adopted
132,155 107,111 178,178 170,000 170,000 170,000
11,997 5,952 12,518 25,000 25,000 25,000
9,007 8,606 10,050 11,755 16,930 16,930
Commercial Office Rentals:
Office Rent 88,399 72,239 106,900 110,775 112,975 112,975
Cleaning Services 2,337 2,309 3,800 3,960 3,960 3,960
Other Revenue 182 283 400 340 340 340
TOTAL REVENUES 586,986 459,010 953,846 921,830 936,205 936,205
EXPENSES
Salaries Wages 341,492 290,550 401,826 465,289 439,799 439,799
Fringe Benefits 63,488 60,262 96,911 109,913 104,429 104,429
Supplies 62,643 42,066 57,978 85,578 73,432 73,432
Consulting 45,496 8,584 15,601 9,425 9,450 9,450
Communications 145,110 90,701 134,160 159,454 140,285 140,285
Repairs, Rentals, Maint. 48,660 22,853 53,155 50,208 39,860 39,860
Other Contractual Services 81,235 68,739 101,554 105,523 101,823 101,823
Insurance 9,108 6,628 10,763 9,625 9,625 9,625
Utilities 94,562 75,960 108,590 112,183 107,683 107,683
Capital Outlay 75,843 35,716 35,716
Interest 10,423 942 9,000 6,000 6,000
Admin. Services Transfer 28,700 36,150 50,796 38,161 38,161 38,161
Merchandise, Food Bever. 15,194 11,391 14,184 9,856 9,856 9,856
Contingency 35,000
Unallocated 21,228 20,144 20,144
Special Events 60,000
TOTAL EXPENSES
Loss Before Transfer
946,111 714,826 1,140,518 1,261,286 1,136,263 1,136,263
(359,125) (255,816) (186,672) (339,456) (200,058) (200,058)
Transfer from T.I.F. Dist. 359,125 186,672 339,456 (200,058) (200,058)
Net Income (Loss) 0 (255,816) 0 0 0 0
1
1
RESOLUTION NO. 92 -43
REVENUES
GENERAL PROPERTY TAXES
Ad Valorem Levy
MISCELLANEOUS REVENUE
Interest
Land Sales
Total Misc. Revenue
OTHER SOURCES OF FUNDS
H.R.A. Fund Transfer
C.D.B.G. Fund Transfer
Equity Transfer Debt
Service Fund
Total Other Sources
TOTAL REVENUE
EXPENDITURES
TOTAL EXPENDITURES
Fund Balance, January 1
1991
Actual
135,810
135,810
141,983
180,440
1,000,000
1,322,423
1,458,233
Administration 111,024
Rehabilitation Grants 103,892
Scattered Site Redevelop. 55,184
Commercial Indust. Study 22,515
Brooklyn Blvd Redev. Plan
C.D.B.G. B. Frank Exemption
C.D.B.G. C.R.P. Project
C.D.B.G. Home Program
Rental to Owner Conversions
Spot Renewal Program
25,674
318,289
849,971
Fund Balance, December 31 1,989,915
ECONOMIC DEVELOPMENT AUTHORITY OF BROOKLYN CENTER
SPECIAL OPERATING FUND
ANNUAL OPERATING BUDGET
As of
8/31/92
0 185,000 110,000 110,000 110,000
73,061 149,570 141,250 141,250 141,250
47,177 215,761 217,491 217,491 217,491
120,238 365,331 358,741 358,741 358,741
120,238 550,331 646,591 646,591 646,591
64,180 151,834
69,255 85,761
1,995 71,500
10,343 25,000
3,500
15,000 30,000
74,600
1,997 108,136
1992 1993 1993 1993
Budget Request Recommend Adopted
110,000 110,000 110,000 110,000
75,000
177,850 177,850 177,850
253,000
100,491
75,000
30,000
12,000
68,000
108,100
162,770 550,331 646,591
1,989,915 1,989,915
1,989,915 1,989,915
253,000 253,000
100,491 100,491
75,000 75,000
30,000 30,000
12,000 12,000
68,000 68,000
108,100 108,100
646,591 646,591
1,989,915 1,989,915
1,989,915 1,989,915