HomeMy WebLinkAbout1991-023 EDAR1
1
Member Jerry Pedlar introduced the following resolution and moved
its adoption:
EDA RESOLUTION NO. 91 -23
RESOLUTION APPROVING PROPOSED THE BROOKLYN CENTER ECONOMIC
DEVELOPMENT AUTHORITY BUDGET FOR THE YEAR 1992 PURSUANT TO
MSA CHAPTER 469.033, SUBDIVISION 6 AND MSA CHAPTER 469.107,
SUBDIVISION 1
WHEREAS, the Brooklyn Center Economic Development Authority has
considered the attached proposed budget and finds that this budget is
necessary for the operation of the Brooklyn Center Economic Development
Authority during the year 1992:
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.
August 26, 1991
Date President
The motion for the adoption of the forgoing resolution was duly seconded
by member Dave Rosene and upon vote being taken thereon, the
following voted in favor thereof:
Todd Paulson, Celia Scott, Jerry Pedlar, Dave Rosene, and Philip Cohen;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.
Resolution No. 91 -23
RRV
ECONOMIC DEVELOPMENT AUTHORITY OF BROOKLYN CENTER
EARLE BROWN FARM T.I.F. DISTRICT
1992 PROPOSED BUDGET
1989
Actual
1990 1991 Estimated Proposed
Actual Adopted 1991 1992
GEWRRAL PROPERTY TAXES
Tax Increments 925,071 976,539 1,066,000 1,066,000 1,308,50Q
Total Property Taxes 925,071 976,539 1,066,000 1,066,000 1,308,500
haacELLAnsua_RE-YENUE
Interest 146,300
Contract For Deed Interest 32,725
Rent, Refunds and Misc 6,383
Interest D BARN Loan 8,650 12,750
Total Misc. Revenue 185,408 0 0 8,650 12,750
OTHER SOURCES OF FUNDS
Transfers from CDBG Fund 20,000
Sale of Bonds 6,000,000 5,996,855
Internal Borrowing 175,824 415,340
Total Other Sources 20,000 0 6,000,000 6,172,679 415,340
TOTAL REVENUE OTHER SOURCES 1,130,479 976,539 7,066,000 7,247,329 1,736,590
EXPENDITURES
R_A_F_ Project
General Administration 69,506 2,371 15,000 30,000
Operations Maint. 2,039
Restoration Startup 5,143,674 4,562,774 50,000
Internal Borrowing Interest 9,908 390,387 100,000 190,000 95,000
1991 Bond Issue 860 50,788
Total E.B.F. Project 5,225,127 4,956,392 100,000 305,788 125,000
Brooklyn Farm Parcel 2
Property Taxes 66,757 20,000 20,000 23,032
Legal Services 10,000 15,000
Total Brooklyn Farm Parcel 2 0 66,757 20,000 30,000 38,032
F- R_H_C_ Projects
D Barn Construction 175,000 190,800
C Barn Conversion 50,000
Tack Room Improvements 92,000
Total E.B.H.C. Projects 0 0 175,000 190,800 142,000
Total Expenditures 5,225,127 5,023,149 295,000 526,588 305,032
OTHER FTNANCTAL USES
Transfer to Debt Service 85 Fund 420,000 430,000 475,000 475,000 500,000
Transfer to Debt Service 91 Fund 400,000 728,732 620,000
Transfer to EB Heritage Center 429,700 85,700 248,886 311,558
Total Other Financial Uses 420,000 859,700 960,700 1,452,618 1,431,558
TOTAL EXPENDITURES OTHER USES 5,645,127 5,882,849 1,255,700 1,979,206 1,736,590
Resolution No. 91 -23
REVENUES
Convention Center:
Room Rental Revenue
Food Beverage Revenue
Equipment Rental Revenue
Other Revenue
Inn on the Farm:
Guest Room Rentals
Food Beverage Sales
Other Revenue
Office:
Commercial Office Rentals
Cleaning Services
EXPRNDTTHRRS
TOTAL EXPENDITURES
ECONOMIC DEVELOPMENT AUTHORITY OF BROOKLYN CENTER
EARLE BROWN HERITAGE CENTER
1992 PROPOSED BUDGET
Transfers From Other Funds:
Transfers from E.B. T.I.F. Dist. 429,700
1990 1991 Estimated Proposed
Actual Adopted 1991 1992
217,080 330,000 235,000 390,000
66,000 58,200 60,000
50,000 30,000 27,500
1,086 21,000 8,500
69,993 131,274 132,922 178,178
9,235 12,518
6,500 9,000
59,707 65,448
89,435 114,492
2,337
85,700 248,886 311,558
TOTAL REVENUES 777,566 728,422 833,515 1,111,746
ersonal Services 469,698 340,412 503,400
J pplies 54,253 33,500 47,066 57,978
Professional Services 369,022 5,000 60,092 55,221
Communication 17,977 23,000 24,066 25,690
Advertising 794 300 40,000 85,050
Printing 29,760 9,000 24,950 16,500
Insurance 9,202 12,000 10,000 9,542
Utilities 91,690 82,800 75,000 97,080
Repair Maintenance 10,889 16,000 48,968 32,804
Rentals 17,116 15,000 15,523 19,751
Other 176,845 214,073 106,638 165,088
Capital Outlay 40,873 40,800 43,642
777,548 921,244 833,515 1,111,746
Resolution No. 91 -23
REVENUES
EXPENDITURES
TOTAL EXPENDITURES
ECONOMIC DEVELOPMENT AUTHORITY OF BROOKLYN CENTER
SPECIAL OPERATING FUND
1992 PROPOSED BUDGET
1989 1990 1991 Estimated Proposed
Actual Actual Adopted 1991 1992
$T,S RT,T.ANRORS REVENUE
Interest 51,428 60,199 52,000 52,000 50,000
Land Sales 18,000 40,000 75,000
Total Miscellaneous Revenue 51,428 78,199 92,000 52,000 125,000
OTPER SOURCES OF FUNDS
TRANSFERS FROM OTHER FUNDS:
Housing Redevelopment Auth. 78,501 123,605 130,000 147,000 152,000
Community Develop Block Grants 169,285 170,936 195,000 188,000 215,761
Special Assess Debt Service Fund 78,000 78,000 70,000
Total Other Sources 247,786 294,541 403,000 413,000 437,761
FUND BALANCE TRANSFER 73,000
II[OT AL REVENUE OTHER SOURCES 299,214 372,740 495,000 465,000 635,761
Administration 67,532 78,440 162,765 120,000 140,000
Rehabilitation Grants Loans 106,662 79,035 88,000 118,000 140,761
Scattered Site Redevelopment 22,383 72,412 140,000 51,000 75,000
Commercial Industrial Study 8,090 30,000 23,000
Rental to Owner Conversions 60,000 40,000
Community Development 30,000 240,000
196,577 237,977
480,765 342,000 635,761