HomeMy WebLinkAbout2018 10-15 Joint Work Session with Financial CommissionAGENDA
CITY COUNCIL/FINANCIAL COMMISSION JOINT WORK SESSION
Monday, October 15, 2018
6:30 p.m.
City Hall – City Council Chambers
I. Call to Order
II. Approval of Agenda
III. Special Revenue Funds
a. HRA/EDA
b. Tax Increment Funds
c. CDBG Grant
d. Police Forfeitures
e. City Grants
i. NW Cable Communications Grant
ii. Recreation Grants
iii. Police Grants
IV. Internal Service Funds
a. Central Garage Fund
V. Debt Service Funds
a. Improvement Bonds
b. Tax Increment Bonds
VI. Future Budget Discussions/City Council Meetings
Work Sessions
1) Enterprise/Utilities Funds October 29, 2018
City Council Meetings
1) Public Hearing & Budget Adoption December 3, 2018
VII. Adjournment
Following the Work Session: New Street Banner Presentation
MEMORANDUM – CITY COUNCIL/FINANCIAL
COMMISSION JOINT WORK SESSION
Mission: Ensuring an attractive, clean, safe, inclusive community that enhances the quality of life
for all people and preserves the public trust
DATE: October 15, 2018
TO: Curt Boganey, City Manager
FROM: Nathan Reinhardt, Finance Director
SUBJECT: Special Revenue, Internal Service and Debt Service Funds
Recommendation:
It is recommended that the City Council & Financial Commission consider providing direction to
staff regarding Special Revenue, Internal Service Funds and Debt Service Funds.
Background:
Special Revenue Funds
Special Revenue funds account for revenue that must be committed for specific activities.
Special Revenue funds of the City include:
1) HRA/EDA – Funded through the HRA levy, the EDA initiates programs and facilitates
redevelopment opportunities and promotes public and private investment into
commercial, industrial, and residential redevelopment. The programs are supported by
staff from the Community Development department.
2) Tax Increment (TIF) Funds – The funds have the authority to collect tax increments
which are used for various redevelopment projects within the City and for debt service
payments of bonds which were issued for the same purpose.
a. TIF District #2 (Earle Brown) – Was used as the primary financing tool for the
redevelopment of the Earle Brown Terrace and Earle Brown Commons senior
residential projects. The District was decertified in 2011, however the fund
continues to remain open in order to track repayment of loans made to TIF
District #5. As of December 31, 2017 the fund had a cash balance of $1,924,108
and $661,626 of advanced funds remained outstanding. We project the year-end
cash balance to be $1.2 million, after current year expenditures for storm water
improvement for the HOM furniture site, purchase of the former Perkins site, and
Brooklyn Blvd. public improvements.
b. TIF District #3 – Debt was issued in 2004 (refinanced in 2015), 2008 and 2013 to
finance redevelopment projects including the acquisition and demolition of
various properties. For 2019, the fund has budgeted TIF revenues of
approximately $4.11 million, of which $2.25 million is pledged towards the debt
service payments. Of the TIF Revenue collected 15 percent must be allocated to
MEMORANDUM – CITY COUNCIL/FINANCIAL
COMMISSION JOINT WORK SESSION
Mission: Ensuring an attractive, clean, safe, inclusive community that enhances the quality of life
for all people and preserves the public trust
the City’s housing fund, which currently carries a negative balance from spending
in prior years. The decertification date of the district is December 31, 2021. We
are projecting a year-end cash balance of $2.85 million, which will primarily be
held as a reserve for future bond payments.
c. TIF District #4 (France Avenue Business Park) – Provided the financing for the
clean-up and redevelopment of a previously contaminated site that now has
tenants that include Caribou Coffee and Toro Distributing. The financing was
provided through “pay as you go” financing where payments are made to the
developer/owner which have been paid off by the City. For 2019, the fund has
budgeted TIF revenues of $343,087. TIF #4 received a $1.5 million interfund
advance from TIF #3 in 2016, which requires an annual repayment of $281,502
for 2019. The district is scheduled to be decertified by December 31, 2020. All
remaining and future revenues will be dedicated towards the repayment of the
interfund loan.
d. TIF District #5 (Shingle Creek Crossing) – Provides financing for the Shingle
Creek Crossing redevelopment. As of December 31, 2017 the district has an
advance outstanding of $661,626 with TIF District #2 and bonds outstanding of
$3.8 million. For 2019, the fund has budgeted TIF revenues of $581,060, debt
payments are $357,483, and the repayment on the advance is $116,212. The
decertification date of the district is December 31, 2029.
e. TIF District #6 (The Sanctuary) – Provides financing for the Sanctuary
development. The district is expected to receive its first full year of tax increment
in 2019, or approximately $174k. The financing is provided “pay as you go” with
the payment equal to 97.5% of the tax increments collected in the district
beginning in 2019. The decertification date of the district is December 31, 2043.
3) Community Development Block Grant (CDBG) – Accounts for funding of the CDBG
Program that supports housing rehab, public service agency activities, City neighborhood
stabilization and code enforcement initiatives. The City anticipates receiving a grant
award for CDBG grant funds, of which $150,000 will be used to reimburse the City for
code enforcement related expenses.
4) Police Forfeitures – Accounts for forfeiture funds related to alcohol or drug crimes. As
of September 30, 2018 the available balance of alcohol related forfeitures is $1,376, these
funds are restricted to the use of alcohol related crime expenditures. As of September 30,
2018 the available balance of drug related forfeitures is $65,034, these funds are
restricted to law enforcement expenditures. The Police Department has budgeted to
replace their Incident Command vehicle in 2019. The total cost of replacement is
estimated at $85,000, of which $66,000 will be paid for from forfeiture funds.
MEMORANDUM – CITY COUNCIL/FINANCIAL
COMMISSION JOINT WORK SESSION
Mission: Ensuring an attractive, clean, safe, inclusive community that enhances the quality of life
for all people and preserves the public trust
5) City Grants
a. Police Grants – Accounts for local, state or federal grants for police activities.
For 2019, the City is anticipating receiving $126,820 in Auto Theft Prevention
grant funds, $10,000 in Towards Zero Deaths – DWI Enforcement grant funds,
$20,000 in Joint Community Police Partnership Project (Cadet Program) funds,
$19,000 in Edward Byrne Memorial Justice Assistance (JAG) grant funds, $3,000
in Federal Bullet Proof Vests grant funds and $23,000 in Violent Offenders Task
Force (VOTF) grant funds.
b. Recreation Grants – Accounts for a combination of donations, registrations fees
and designated reimbursements for specific activities of the Community
Activities, Recreation & Services department. The planned activities include:
Safety Camp, Luther Soccer League, Earle Brown Days, and Special Events (i.e.
Halloween Event, Holly Sunday, etc.).
c. NW Cable Communications Grant – Accounts for the NW Cable
Communications Grant and related expenses. As of September 30, 2018 the fund
had a balance of $36,319. In 2017, the City utilized accumulated funds for the
City Council Chambers remodel project. The City receives approximately
$40,000 per year in grant funding.
Internal Service Funds
Internal Service funds account for services provided to other departments of the City on a cost
reimbursement basis.
1) Central Garage – Provides centralized management of fuel, preventative maintenance,
repair and replacement of City vehicles and equipment. Funding is provided through
charges to individual departments. In 2019, $1,236,800 in vehicles and equipment are
scheduled to be replaced, including fire, street, parks, police, water, code enforcement
and building inspection vehicles. The largest planned purchases include replacement of
the Fire Department’s Freightliner salvage and rescue truck of $329,000 and a
Freightliner Jet Truck of $198,000 that is used clearing plugged sanitary sewer pipes and
cleaning lift stations.
Debt Service Funds
Debt Service funds are used to account for and report financial resources that are restricted,
committed or assigned to expenditure for principal, interest and other charges related to long-
term debt.
1) General Obligation Improvement Bonds – Established to accumulate the collections of
special assessments which were levied on the property owners who benefited from
improvements that were constructed with the proceeds of this bond. In addition to
MEMORANDUM – CITY COUNCIL/FINANCIAL
COMMISSION JOINT WORK SESSION
Mission: Ensuring an attractive, clean, safe, inclusive community that enhances the quality of life
for all people and preserves the public trust
special assessment funds, the 2013, 2015, 2016, 2017 and 2018 GO Improvement Bonds
are partially repaid from property tax levy dollars.
2) General Obligation Tax Increment Bonds – Established to account for the collection of
tax-increment generated revenues, which are annually transferred from Tax Increment
funds. The bonds were issued to finance various redevelopment projects within the City.
3) Utility Revenue Bonds – These bonds are repaid from utility user fees directly from their
respective utility funds (not included as debt service funds). The City issued Utility
Revenue Bonds in 2010 to finance water meters, in 2015 to finance sanitary sewer
infrastructure, in 2016 to finance water, sanitary sewer and storm drainage infrastructure,
2017 to fund water and sanitary sewer infrastructure, and 2018 to fund water and storm
drainage infrastructure.
The City is proposing a debt issue for 2019 related to infrastructure improvements for Interstate
Area Improvements (neighborhood reconstruction project) and Southeast Area mill and overlay.
The debt would be repaid from a combination of sources that include utility revenues, special
assessments and property tax levies. The breakdown of the proposed debt issue for 2019 is as
follows:
Fund (Revenue Source) Amount
Street Reconstruction (tax levy) $2,300,000
Water (user fees) 2,600,000
Sewer (user fees) 1,750,000
Storm Drainage (user fees) 1,670,000
Special Assessments (assessments) 2,810,000
Total $11,130,000
A detailed debt service schedule for the proposed debt issue has been attached. Based on a 10
year term and net interest rate of 2.84% the annual payment would be approximately $1,362,000.
The annual debt payments would be comprised of an estimated $279,000 of property tax levy,
$318,000 in water user fees, $215,000 in sanitary sewer fees, $205,000 in storm drainage user
fees, and $345,000 in special assessments.
Strategic Priorities:
Resident Economic Stability
Targeted Redevelopment
Enhanced Community Image
Inclusive Community Engagement
Safe, Secure & Stable Neighborhoods
Key Transportation Investments
Special Revenue Funds
HRA/EDA
TIF District #2
TIF District #3
TIF District #4
TIF District #5
TIF District #6
Community Development Block Grant (CDBG)
Police Forfeitures
City Grants
o Recreation Grants
o Police Grants
o NW Cable Communications Grant
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2
2019 Brooklyn Center Department Budget Narrative by Fund
Department Name: Housing & Redevelopment Authority (HRA)
Department/Division Mission:
The HRA utilizes its taxing authority to fund the operations of the Brooklyn Center Economic
Development Authority
Department/Division Description:
The Housing and Redevelopment Authority has the authority to levy taxes in the amount of .0185% of the
taxable market value of the City. This levy is collected and transferred to the Brooklyn Center Economic
Development Authority for utilization.
3
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
46321 - HRA FUND
REVENUES
4101 - CURRENT AD VALOREM TAXES 304,277$ 325,549$ 175,323$ 345,978$ 380,098$ 9.86% 399,103$
4120 - DELINQUENT AD VALOREM TAXES 920 848 1,290 - - 0.00% -
4154 - PENALTIES & INT-DELINQ TAXES (254) (91) (7) - - 0.00% -
TOTAL TAXES 304,943 326,306 176,606 345,978 380,098 9.86% 399,103
TOTAL REVENUES 304,943 326,306 176,606 345,978 380,098 9.86% 399,103
EXPENDITURES
6481 - EDA FUND TRANSFER 304,417 326,770 - 345,978 380,098 9.86% 399,103
TOTAL TRANSFERS OUT 304,417 326,770 - 345,978 380,098 9.86% 399,103
TOTAL BUSINESS UNIT EXPENSES 304,417 326,770 - 345,978 380,098 9.86% 399,103
NET CHANGE IN FUND BALANCE 526$ (464)$ 176,606$ -$ -$ 0.00% -$
HOUSING & REDEVELOPMENT AUTHORITY (HRA)
FUND - 20200
SPECIAL REVENUE FUND
4
2019 Brooklyn Center Department Budget Narrative
Department Name: Economic Development Authority (EDA)
Department Mission:
The mission of the Brooklyn Center Economic Development Authority is to initiate programs
and facilitate redevelopment and/or renovation opportunities which promote public and private
investments into commercial, industrial, and residential redevelopment and renovation activities.
Department Description:
The EDA Funded Activities and Programs are supported by staff from the department of
Community Development.
The Director of Community Development is responsible for the administration of the following
EDA programs and activities:
- Business retention, expansion, and attraction & community marketing activities;
- Promoting development opportunities;
- Planning initiatives & budgeting associated with the use of Tax Increment Financing;
- EDA’s housing initiatives, including the Renew Loan Program, the Renew Grant
Program, and the Remove & Rebuild Program;
- The Minnesota Housing & Finance Agency (MHFA) Rehab Loan Program with reduced
interest rate; the Federal Neighborhood Stabilization Program – NSP acquisition, rehab,
and resale of foreclosed homes.
Key Initiatives focused on the achievement of strategic priorities/value
propositions
Targeted Redevelopment (2018-2020 Strategic Plan)
Opportunity Site Redevelopment
The desired outcome is an inviting, attractive, walkable and vibrant development that
provides for a mix of housing and commercial types that create a dense mixed-use City
Center.
The initiatives for 2019-2020 include:
- The creation of a Master Development Strategy which will:
o Identify a master development plan that is grounded in market realities and
economically feasible, which will allow the city to begin financial analysis
to identify potential and realistic need for public subsidy;
5
o Determine a desired land use plan that identifies subareas within the
Opportunity Site and their appropriate land use mix.
o Identify a regulatory framework that outlines the desired form and function
of both public and private space, as well as the relationship between
buildings and ROW;
o Layout a path to achieving entitlements that is flexible, market driven, and
ensures a high quality product that is in keeping with the City’s vision for
the area;
o Identify a multi-modal transportation framework so that the City can begin
planning for future CIP needs, as well as organize the land use concept
around foundational street networks. The transportation framework will
identify street hierarchies and sections, as well as consider the role of transit
in the redevelopment area.
57th and Logan Redevelopment
The desired outcome is an inviting, attractive, and vibrant development that forwards the
City’s Strategic Priorities.
The initiatives include:
- Master Development Planning which will:
o Identify planning issues and considerations;
o Provide a market feasibility analysis;
o Identify development opportunities;
o Identify the role of public subsidy in relationship to development feasibility;
o Provide high level transportation analysis;
o Provide a regulatory framework that identifies land use, design standards, and
zoning to both incentivize development and ensure that it forwards the City’s
vision;
o Prepare marketing materials and a development implementation plan.
Brooklyn Boulevard Corridor
The desired outcome is a cohesive mixed use corridor with commercial uses that serve the
community, provides a variety of housing types, and responds to the access and mobility
needs of Brooklyn Boulevard.
The initiatives include:
- Master Development Corridor Planning which will:
o Identify planning issues and considerations;
o Provide a market feasibility analysis;
o Identify appropriate locations for commercial and higher density residential
concentrations;
o Identify development opportunities;
o Identify the role of public subsidy in relationship to development feasibility;
o Utilize past planning work related to the corridor;
6
o Provide high level transportation analysis;
o Provide a regulatory framework that identifies land use, design standards, and
zoning to both incentivize development and ensure that it forwards the City’s
vision;
o Prepare marketing materials and a development implementation plan for
EDA-owned properties on the corridor.
Former Jerry’s Food Site
The desired outcome is an inviting, attractive, and vibrant development that forwards the
City’s Strategic Priorities.
The initiatives include:
- Master Development Planning which will:
o Identify planning issues and considerations;
o Provide a market feasibility analysis which includes an analysis of land value
based on likely land use scenarios;
o Identify development opportunities;
o Identify the role of public subsidy in relationship to development feasibility;
o Provide high level transportation analysis;
o Provide a regulatory framework that identifies land use, design standards, and
zoning to both incentivize development and ensure that it forwards the City’s
vision;
o Prepare a development implementation plan that includes assisting the
landowner in identifying perspective developers and/or businesses to achieve
the City’s goals for the site.
Former Sear’s Site
The desired outcome is an inviting, attractive, and vibrant development that forwards the
City’s Strategic Priorities.
The initiatives include:
- Master Development Planning which will:
o Identify planning issues and considerations;
o Provide a market feasibility analysis which includes an analysis of land value
based on likely land use scenarios;
o Identify development opportunities;
o Identify the role of public subsidy in relationship to development feasibility;
o Provide high level transportation analysis;
o Provide a regulatory framework that identifies land use, design standards, and
zoning to both incentivize development and ensure that it forwards the City’s
vision;
o Prepare a development implementation plan that includes assisting the
landowner in identifying perspective developers and/or businesses to achieve
the City’s goals for the site.
7
Resident Economic Stability
Resident Empowerment Collaborative
The desired outcome is to create job pathways and training opportunities for residents. To
achieve the desired outcome we will facilitate the creation of or become an active partner in
an existing collaborative focused on developing skilled employment opportunities for
underserved Brooklyn Center Residents.
Entrepreneur Support
The desired outcome is to foster entrepreneurship opportunities for residents and those that
desire to start or grow a business in Brooklyn Center, with an emphasis on underserved
entrepreneurs. To achieve this outcome we will develop a program to support existing local
and start-up business. The program will identify service gaps for local entrepreneur
collaborative develop solutions and identify resources, and reduce/eliminate local
government barriers to local business success.
Job Retention and Expansion
The desired outcome is to increase the number of high quality jobs in the community. To
achieve this outcome we will create a Business Expansion and Retention Program to identify
existing businesses’ needs and develop relationships with the City’s businesses. We will also
create a Revolving Loan Program to support job growth and business investment.
Resident Wealth Creation and Financial Literacy
The desired outcome is to increase resident economic stability through wealth creation and
financial literacy. To achieve this outcome we will explore opportunities to promote home
ownership opportunities for existing and future residents, with an emphasis on serving people
of color. We will explore partnerships with outside agencies to provide financial literacy
classes to residents. We will also explore policies and ordinances which would provide tenant
protections, preserve existing affordable housing, and support the creation of new, legally-
binding affordable housing units.
S t a f f i n g L e v e l s FTEs
P o s i t i o n s 2018 2019 2020
Community Development Director .75 .75 .75
Deputy Director .25 .25 .25
Business and Workforce Development Specialist .75 .75 .75
Administrative Assistants (FT) .50 .50 .50
Administrative Assistants (PT) .25 .25 .25
Total 2.5 2.5 2.5
Note: A portion of the EDA positions are funded by the General Fund in the Community
Development department.
8
Strategic Functions/Division(s):
Business Retention, Expansion, and Community Marketing Activities
Promoting development opportunities; collaborating with business groups, organizations
and agencies focused on commerce, employment, and economic growth; planning
initiatives & advocating visions for public and private investments into the City.
Housing Activities
Promoting housing initiatives that increase opportunities for home ownership and
reinvestment into the community's housing stock.
Administrating the EDA's Renew Loan and Grant programs, the Remove & Rebuild
program, the MHFA Rehab Loan assistance program and coordinating HUD's
Neighborhood Stabilization Program-NSP purchase and rehab program.
Marketing and Promoting the redevelopment of EDA owned Properties.
Annual Goals and Strategies:
Implement the EDA’s recommendation on options and strategies for the use of eligible
tax increment funds from TIF 3 and TIF 5 funds for out-of-district expenditures.
Develop strategies on the use of future Tax Increment Revenue from TIF District 7
(Southern Portion of the Opportunity Site) to fund the necessary infrastructure
improvements and enhancement for the development of the first phase of the project.
Continue to identify opportunities for strategic acquisitions that directly facilitate
redevelopment projects.
Identify programs that will encourage business investment in the community, and seek
out funding opportunities to implement them.
Create a Business, Retention & Expansion program.
Develop a land use plan and Brooklyn Boulevard Corridor Overlay District, which
enables the development of a cohesive mixed use corridor with commercial uses that
serve the community, provides a variety of housing types, and responds to the access and
mobility needs of Brooklyn Boulevard.
Develop master plans that will promote redevelopment of the 57th & Logan site, the
former Sears site, and the former Jerry’s Foods site.
Complete an extensive rewrite and update of the Zoning Code and Sign Code to
implement the 2040 Comprehensive Plan and enable quality redevelopment projects that
meet the goals and vision of the City.
9
Annual Operating Goal Performance Measures:
Performance Objectives
Description of Performance Measure Performance Levels
*Actual Value Target Value
Develop an Economic Plan and Master
Development Plan for 57th & Logan Site
Undeveloped land An approved Master
Development Plan &
Economic Plan for
development
Develop an Economic Plan and Master
Development Plan for the former Sears Site
Undeveloped land An approved Master
Development Plan &
Economic Plan for 1st
phase development
Develop an Economic Plan and Master
Development Plan for the former Jerry’s
Food Site
Undeveloped land An approved Master
Development Plan &
Economic Plan for
development
Identification of Redevelopment
Opportunities and Planning Activities
2018 Community
Development Planning
& Activities Map
Preparation of the
2019 Planning &
Activities Map.
Create a Business, Retention, and Expansion
Program
No formal program
currently exists
Business Database,
business packets, site
visits complete, and
program in place
Identify Economic Assistance Programs that
promote private investment in
development/redevelopment projects which
generates employment opportunities
Existing programs by
DEED, Metro Council,
Henn. Co.
Organize program
information and
illustrate how the
programs could be
used to benefit new
employment
opportunities and
redevelopment
10
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
46310 - DEVELOPMENT/RE-DEVELOPMENT
REVENUES
4359 - OTHER STATE GRANTS/AID 130,044$ -$ -$ -$ -$ 0.00%-$
4362- COUNTY GRANTS/AID 165,094 25,958 9,116 - - 0.00%-
4373 - OTHER GRANTS/AID 337,696 - - - - 0.00%-
TOTAL INTERGOVERNMENTAL 632,834 25,958 9,116 - - 0.00%-
4603 - INTEREST EARNINGS 10,390 16,631 16,133 12,679 15,649 23.42%15,649
4605 - UNREALIZED INVESTMENT GAIN/LOSS (2,112) (4,158) - - - 0.00%-
TOTAL INVESTMENT EARNINGS 8,278 12,473 16,133 12,679 15,649 23.42%15,649
4606 - OTHER REVENUE 309,761 4,633 540 - - 0.00%-
TOTAL MISCELLANEOUS 309,761 4,633 540 - - 0.00%-
4915 - TRANSFERS IN 304,417 326,770 - - - 0.00%-
4915.3 - TRANSFERS IN FROM HRA FUND - - - 345,978 380,098 9.86% 399,103
TOTAL TRANSFERS IN 304,417 326,770 - 345,978 380,098 9.86% 399,103
TOTAL REVENUES 1,255,290 369,834 25,789 358,657 395,747 10.34% 414,752
EXPENDITURES
6101 - WAGES & SALARIES-FT EMPLOYEES 212,132 247,025 95,697 226,968 218,941 -3.54% 230,375
6102 - OVERTIME-FT EMPLOYEES - - - - - 0.00%-
6103 - WAGES-PART TIME EMPLOYEES 10,759 4,910 9,121 12,658 13,982 10.46%14,401
6111 - SEVERANCE PAY 4,277 4,267 34,681 - - 0.00%-
6122 - PERA COORDINATED PLAN 16,715 18,885 7,838 17,972 17,469 -2.80%18,359
6125 - FICA - SOCIAL SECURITY 13,266 14,952 8,458 14,857 14,441 -2.80%15,175
6126 - FICA - MEDICARE 3,103 3,497 1,978 3,474 3,377 -2.79%3,549
6131 - CAFETERIA PLAN CONTRIBUTIONS 29,670 28,264 - 35,743 36,083 0.95%38,255
6151 - WORKER'S COMP INSURANCE 5,087 4,738 877 1,701 1,676 -1.47%1,764
TOTAL PERSONAL SERVICES 295,009 326,538 158,650 313,373 305,969 -2.36% 321,878
6201 - OFFICE SUPPLIES - 10 - 100 100 0.00%100
6219 - GENERAL OPERATING SUPPLIES - - - 100 100 0.00%100
6242 - MINOR EQUIPMENT - - - - - 0.00%-
6243 - MINOR COMPUTER EQUIPMENT 2,227 2,216 1,718 - - 0.00%-
TOTAL SUPPLIES 2,227 2,226 1,718 200 200 0.00%200
6301 - ACCTG, AUDIT & FIN'L SERVICES 2,445 1,952 1,982 2,500 3,000 20.00%3,000
6302 - ARCH, ENG & PLANNING 17,043 - 3,190 7,500 30,000 300.00%-
6303 - LEGAL SERVICES 7,920 5,036 16,441 7,500 7,500 0.00%7,500
6307 - PROFESSIONAL SERVICES 7,209 11,475 43,518 25,000 45,000 80.00%45,000
6321 - TELEPHONE/PAGERS 813 787 606 1,300 2,550 96.15%2,550
6331 - TRAVEL EXPENSE/MILEAGE - - - 100 200 100.00%200
6333 - FREIGHT/DRAYAGE - - - 100 100 0.00%100
6342 - LEGAL NOTICES 81 104 565 400 400 0.00%400
6351 - PRINTING - 24 - 75 100 33.33%100
6381 - ELECTRIC 87 83 - - - 0.00%-
6383 - WATER 14 124 - - - 0.00%-
6384 - REFUS DISPOSAL 11 24 12 - - 0.00%-
6385 - SEWER 98 165 82 - 200 100.00%200
6386 - STORM SEWER 17,776 14,718 13,267 15,000 15,000 0.00%15,000
6389 - STREET LIGHTS 2,767 2,298 1,812 2,200 2,200 0.00%2,200
6405 - PARK & LANDSCAPE SERVICES 14,589 15,331 11,169 7,000 10,000 42.86%10,000
6406 - MULTI-FUNCTION MTNCE 1,563 1,912 820 1,600 2,000 25.00%2,000
6409 - OTHER REPAIR & MAINT SVCS - - - 1,500 1,000 -33.33%1,000
6423 - LOGIS CHARGES 3,685 3,249 2,461 3,629 3,750 3.33%3,869
6432 - CONFERENCES AND SCHOOLS - 570 930 1,200 2,500 108.33%2,500
6433 - MEETING EXPENSES 227 332 81 700 500 -28.57%500
6434 - DUES & SUBSCRIPTIONS 7,950 10,764 10,772 22,800 11,000 -51.75%11,000
6441 - LICENSES, TAXES & FEES 6,666 200 - - - 0.00%-
6449 - OTHER CONTRACTUAL SERVICE 634,039 57,879 9,116 - - 0.00%-
6496 - LOSS ON DISPOSAL 400,595 - - - - 0.00%-
6498 - INTERFUND EXPENSE ALLOCATION (117,571) (115,308) - (116,000) (120,350) 3.75% (120,350)
TOTAL PROFESSIONAL SERVICES 1,008,007 11,719 116,824 (15,896) 16,650 -204.74% (13,231)
ECONOMIC DEVELOPMENT AUTHORITY (EDA)
FUND - 20300
SPECIAL REVENUE FUND
11
6461 - FUEL CHARGES 70 186 426 342 342 0.00%352
6462 - FIXED CHARGES 955 958 575 862 653 -24.25%672
6463 - REPAIR & MAINT CHARGES 458 501 301 160 160 0.00%165
6465 - REPLACEMENT CHARGES 1,950 2,010 1,340 2,010 2,050 1.99%2,112
TOTAL CENTRAL GARAGE CHARGES 3,433 3,655 2,642 3,374 3,205 -5.01%3,301
6510 - LAND - - 4,800 - - 0.00%-
TOTAL CAPITAL OUTLAY - - 4,800 - - 0.00%-
6471 - ADMINISTRATIVE SERVICE TRANSFER 57,884 62,120 56,302 84,452 84,452 0.00% 84,452
TOTAL TRANSFERS OUT 57,884 62,120 56,302 84,452 84,452 0.00% 84,452
TOTAL BUSINESS UNIT EXPENSES 1,366,560 406,258 340,936 385,503 410,476 6.48% 396,600
NET CHANGE IN FUND BALANCE (111,270)$ (36,424)$ (315,147)$ (26,846)$ (14,729)$ -45.14% 18,152$
12
2019 Brooklyn Center Department Budget Narrative by Fund
FUND: Fund – 27700
DEPT/DIVISION/ACTIVITY: TIF District #2 – 46412
PROFILE
This fund accounts for all TIF revenues and expenditures for TIF District #2, the Earle Brown
TIF District. This TIF District was the primary financing tool for the redevelopment of the Earle
Brown Terrace and Earle Brown Commons senior residential projects.
BACKGROUND OF THE DISTRICT
This District was established in 1985 as a Redevelopment District to remedy conditions of
economic obsolescence, physical blight, underutilization of land, extensive soil corrections
which the private sector has not been willing or able to accomplish and correction of numerous
traffic hazards and pedestrian conflicts. The District consisted of 11 parcels, comprising 61.59
acres.
In 1994, the District’s Project area was enlarged to include the geographic boundaries of the City
and additional objectives were added to promote private enterprise investments into the
redevelopment of the community consistent with the needs of the City.
In 2001, a Legislative Amendment extended the length of the District to 12/31/11.
In 2008, the 6.15 acre Embassy Suites site was removed from the District.
In 2010, the Minnesota Jobs Bill authorized the use of available Tax Increment from any District
for projects that:
* create or retain jobs in the State of Minnesota, including construction jobs
* construction commences before July 1, 2011 (amended to July 1, 2012
* City Council approves a written spending plan after a duly noticed public hearing.
The City Council & EDA approved a TIF 2 Spending Plan (public hearing on 4-11-11) which
included the following:
* Shingle Creek Crossing Redevelopment of Brookdale Mall Properties $2.4M
* Embassy Suites Link to Heritage Center (D-Barn lease portion) $340,000
* Howe Site Environmental Investigation Loan to MBC II, LLC (repaid)
On August 8, 2011, the City Council and the EDA conducted public hearings and formally
amended the Tax Increment Finance Plan and Budget to include the tax increment revenue to be
received in 2011 and the future repayment of the inter-fund loan to Tax Increment District No. 5,
Shingle Creek Crossing Project. The amended budget adjusted the funding for the following
activities:
13
Amended Budget Change
Land/Building Acquisition $2,563,179 (+ $303,179)
Site Improvements/prep costs: 130,000 (+ 30,000)
Utilities 740,612 (+ 540,612)
Other Public Improvements 17,093,810 (+ 4,408,810)
Administrative 1,363,401 (+ 635,101)
Transfer Out Job Bill Spending 3,010,000 (+ 3,010,000)
The last year of tax increment collections for this District is for the tax year 2011.
Hennepin County added the tax capacity captured by Tax Increment District 2 to the tax base to
the respective tax authorities for the 2012 tax year.
On November 14, 2016, the City Council adopted Resolution No. 2016-194, approving the sales
of $1,725,000 Taxable General Obligation Tax Increment Refunding Bonds, Series 20116 C,
(TIF 5 Bonds) which enabled paying off $1,700,000 of the $2,400,000 inter-fund loan to Tax
Increment District No. 5 (Shingle Creek Crossing).
DEPARTMENTAL GOALS
To provide the EDA with options for the implementation of the 2011 budget amendment
which maximize redevelopment opportunities and benefits to the City of Brooklyn
Center.
Monitor the status of the Shingle Creek Crossing Development and options for the inter-
fund loan repayment.
EXPENDITURE DETAILS
6303 Legal Services $ 1,000
6530 Improvements $180,000
PERSONNEL LEVELS
No personnel are directly assigned to this activity.
CAPITAL OUTLAY
Opportunities for pooling activities/Out-of-District Expenditures:
Potential Inter-Fund Loans as a finance option for TIF 5 (Shingle Creek Crossing) and
TIF 7 (Opportunity Site)
EBHC/Embassy Pond Improvements
Strategic land acquisition related to targeted redevelopment opportunities
Other TIF eligible expenses that directly benefit redevelopment activities
14
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EARLE BROWN
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0 0.1 0.20.05
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Created by: Brooklyn Center Business and Development Dept./GIS
This map is neither a legally recorded map nor a survey and is not intended to be used as one. This map is a compilation of records,
information and data located in various city, county, state and federal offices and other sources regarding the area shown, and is to
be used for reference purposes only. The City does not warrant that the Geographic Information System (GIS) Data used to prepare
this map are error free, and the City does not represent that the GIS Data can be used for navigational, tracking or any other purpose
requiring exacting measurement of distance or direction or precision in the depiction of geographic features. If errors or discrepancies
are found please contact 763-569-3330. The preceding disclaimer is provided pursuant to Minnesota Statutes §466.03, Subd. 21 (2000),
and the user of this map acknowledges that the City shall not be liable for any damages, and expressly waives all claims, and agrees to
defend, indemnify, and hold harmless the City from any and all claims brought by User, its employees or agents, or third parties which
arise out of the user's access or use of data provided./
Document Path: L:\Users\ComDev\TIFareas\TIF_DISTRICT_No.2.mxd
Housing Development and Redevelopment Project No. 01 and
Tax Increment Financing (TIF) District No. 2
1715
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
46412 - TIF DISTRICT #2
REVENUES
4150 - TAX INCREMENTS -$ -$ -$ -$ -$ 0.00% -$
TOTAL TAXES - - - - - 0.00% -
4362 - MISC FEDERAL GRANTS - - - - - 0.00% -
TOTAL INTERGOVERNMENTAL - - - - - 0.00% -
4603 - INTEREST EARNINGS 3,280 21,944 11,739 18,512 15,293 -17.39% 2,841
4605 - UNREALIZED INVESTMENT GAIN/LOSS (2,982) (5,732) - - - 0.00% -
TOTAL INVESTMENT EARNINGS 298 16,212 11,739 18,512 15,293 -17.39% 2,841
4606 - OTHER REVENUE 8,645 19,990 - 7,816 6,270 -19.78% 5,023
TOTAL MISCELLANEOUS 8,645 19,990 - 7,816 6,270 -19.78% 5,023
4915 - TRANSFERS IN - - - - 116,212 100.00% 116,212
TOTAL TRANSFERS IN - - - - 116,212 100.00% 116,212
TOTAL REVENUES 8,943 36,202 11,739 26,328 137,775 423.30% 124,076
EXPENDITURES
6302 - ARCH, ENG & PLANNING 10,680 - - - - 0.00% -
6303 - LEGAL SERVICES - - - 5,000 1,000 -80.00%1,000
6342 - LEGAL NOTICES - - - - - 0.00%-
6441 - LICENSES, TAXES & FEES - - 17,325 - - 0.00%-
6449 - OTHER CONTRACTUAL SERVICE - - - 1,715,000 - -100.00% 120,000
TOTAL PROFESSIONAL SERVICES 10,680 - 17,325 1,720,000 1,000 -99.94% 121,000
6510 - LAND - - 422,978 - 650,000 100.00%-
6530 - IMPROVEMENTS - 79,064 790,681 - 180,000 100.00%-
TOTAL CAPITAL OUTLAY - 79,064 1,213,659 - 830,000 100.00%-
TOTAL BUSINESS UNIT EXPENSES 10,680 79,064 1,230,984 1,720,000 831,000 -51.69% 121,000
NET CHANGE IN FUND BALANCE (1,737)$ (42,862)$ (1,219,245)$ (1,693,672)$ (693,225)$ -59.07%3,076$
TAX INCREMENT FINANCING (TIF) DISTRICT #2
FUND - 27700
SPECIAL REVENUE FUND
16
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2019 Brooklyn Center Department Budget Narrative by Fund
FUND: Fund – 27800
DEPT/DIVISION/ACTIVITY: TIF District #3 – 46413
PROFILE
This fund accounts for all TIF revenues and expenditures for TIF District #3. Major areas
of focus within the District include:
Brooklyn Boulevard north of 694
66th and 252
Along Brooklyn Boulevard and Bass Lake Road, surrounding Shingle Creek
Crossing
Commercial properties at 57th Ave. N and Logan Ave. N
Properties north of 694, along Freeway Boulevard, between Humboldt Ave. N
and Shingle Creek Parkway
The TIF District #3 fund is annually transferring principal and interest payments to debt
services funds for three outstanding TIF Revenue Bonds; the 2015B TIF Refinancing
Revenue Bonds, the 2013A TI Revenue Bonds and the 2008A TI Revenue Bonds.
BACKGROUND OF THE DISTRICT
Tax Increment District No. 3 was established as a 25 year Redevelopment District to
provide assistance to various commercial redevelopment and housing development
projects within the District. The District was comprised of 221 parcels of land within the
following 3 sites:
‐ the Brooklyn Boulevard /69th Area,
‐ the Brookdale Area, and
‐ the Willow/252 Area.
Special state legislation associated with the creation of this Tax Increment District
included provisions which required that 15% of the revenues generated from tax
increment in any year is deposited in the housing development account of the authority
and expended according to the tax increment financing plan.
Additionally, the legislation extended the initial 5 year rule to 10 years and Special
Legislation provided an additional 3 years. The extended 5 Year Rule, deadline for in-
district expenditures was May 15, 2008.
This Redevelopment District is presently limited to the use of tax increment funds for
debt service with the following exceptions:
‐ 25% Pooling activities, which include administrative costs.
‐ Affordable Housing activities which are not subject to the 5 Year Rule.
The district is scheduled to be decertified on December 31, 2021.
18
On November 12, 2013 the EDA adopted Resolution No. 2013-15 which modified the
Tax Increment Financing Plan and approved the following amended budget:
Estimated Public Costs
Land Acquisitions $25,000,000
Public Improvements 4,500,000
Site Improvements 2,100,000
Administrative Expenses 4,400,000
C o n t i n g e n c y -
Housing Development Account
Land Acquisitions $ 6,000,000
Affordable Housing Expenses 4,175,000
Interest Expense on Debt Issuance 250,000
Total Housing Development Account $10,425,000
Pooling
Land Acquisitions $ 6,775,000
Public Improvements 4,000,000
Interest Expense on Debt Issuance 1,050,000
T o t a l P o o l i n g $11,825,000
Interest Expense (including Capitalized) $11,250,000
T o t a l $69,500,000
TIF #3 based on Hennepin County for the assessment year 2017 is projected to generate a
total of $4,327,781 in tax increment and $270,856 excess taxes/above frozen levy in
2018.
The 6 Year TIF Rule regulates the use of TIF for Out-of-District expenditures, including
Administrative costs and eligible activities to 25% for redevelopment districts.
The following illustrates the budgeted use of funds using 95% of projected 2018 revenue
$4,111,392:
Debt Service Debt Service Housing Fund Out-of-District
Reserve
2018 $2,294,451 $326,561 $616,709 $873,671
2019 2,242,713 375,299 616,709 873,671
2020 2,231,513 386,499 616,709 873,671
2021 2,244,938 376,074 616,709 873,671
2022 2,232,169
The additional revenue available for Housing Activities (15% of annual tax increment is
approximately $2.5M and approximately $3.6M has preliminarily been identified for
19
Out-of-District expenditures based on current TIF revenue projections. However, $1.5
million in housing funds will be used to reimburse previous housing fund expenditures.
DEPARTMENT GOALS
Develop options on the use of Out-of-District funds for Tax Increment investment
opportunities which leverage private investments and maximize benefits to the
community and assure that sufficient funds are available for debt service.
Develop master plans that will promote redevelopment of the 57th & Logan site and the
former Jerry’s Food site.
Develop a land use plan and Brooklyn Boulevard Corridor Overlay District, which
enables the development of a cohesive mixed use corridor with commercial uses that
serve the community, provides a variety of housing types, and responds to the access and
mobility needs of Brooklyn Boulevard.
EXPENDITURE DETAILS
6302 Arch, Eng., Planning $ 50,000
6303 Legal Services $ 35,000
6307 Professional Services $ 25,000
6449 Other Contractual Services $ 803,671
6474 Debt Service Fund Transfer $ 2,245,713
6510 Land $ 370,000
PERSONNEL LEVELS
No personnel are assigned to this activity.
CAPITAL OUTLAY
Opportunities for pooling activities/Out-of-District Expenditures:
TIF 7 Inter-fund Loan to assist in financing infrastructure improvements
associated with the Opportunity Site (initial street, utility, streetscaping, and
stormwater)
Strategic land acquisition related to targeted redevelopment opportunities
Other TIF eligible expenses that directly benefit redevelopment activities
20
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LAKESIDE PARK
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Miles
Created by: Brooklyn Center Business and Development Dept./GIS
This map is neither a legally recorded map nor a survey and is not intended to be used as one. This map is a compilation of records,
information and data located in various city, county, state and federal offices and other sources regarding the area shown, and is to
be used for reference purposes only. The City does not warrant that the Geographic Information System (GIS) Data used to prepare
this map are error free, and the City does not represent that the GIS Data can be used for navigational, tracking or any other purpose
requiring exacting measurement of distance or direction or precision in the depiction of geographic features. If errors or discrepancies
are found please contact 763-569-3330. The preceding disclaimer is provided pursuant to Minnesota Statutes §466.03, Subd. 21 (2000),
and the user of this map acknowledges that the City shall not be liable for any damages, and expressly waives all claims, and agrees to
defend, indemnify, and hold harmless the City from any and all claims brought by User, its employees or agents, or third parties which
arise out of the user's access or use of data provided.
TIF DISTRICTS
TIF District No. 3
TIF_Project_Boundary_Line
Central Commerce District
/
Document Path: L:\Users\ComDev\TIFareas\TIF_DISTRICT_No_3.mxd
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No.1
Housing Development and Redevelopment Project No. 01 and
Tax Increment Financing (TIF) District No. 3
2321
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
46413 - TIF DISTRICT #3
REVENUES
4150 - TAX INCREMENTS 2,969,836$ 3,922,749$ 2,146,514$ 3,765,780$ 4,111,392$ 9.18% 4,111,392$
TOTAL TAXES 2,969,836 3,922,749 2,146,514 3,765,780 4,111,392 9.18% 4,111,392
4603 - INTEREST EARNINGS 7,719 15,086 32,725 10,690 26,147 144.59% 26,147
4605 - UNREALIZED INVESTMENT GAIN/LOSS (1,166) (5,752) - - - 0.00% -
TOTAL INVESTMENT EARNINGS 6,553 9,334 32,725 10,690 26,147 144.59% 26,147
4831 - OFFICE RENTALS 85,081 109,376 125,993 92,816 192,942 107.88% 164,548
4606 - OTHER REVENUE - 148,904 - - - 0.00% -
4921 - REFUNDS & REIMBURSEMENTS 645 - 1,089 - - 0.00% -
TOTAL MISCELLANEOUS 85,726 258,280 127,082 92,816 192,942 107.88% 164,548
4915 - TRANSFERS IN - - - 281,502 281,502 0.00% 281,502
TOTAL TRANSFERS IN - - - 281,502 281,502 0.00% 281,502
4911 - SALE OF PROPERTY - 31,100 14,834 200,000 250,000 25.00% 1,500,000
TOTAL OTHER FINANCING SOURCES - 31,100 14,834 200,000 250,000 25.00% 1,500,000
TOTAL REVENUES 3,062,115 4,221,463 2,321,155 4,350,788 4,861,983 11.75% 6,083,589
EXPENDITURES
6301 - ACCTG, AUDIT & FIN'L SERVICES - - 4,440 6,000 - -100.00%-
6302 - ARCH, ENG & PLANNING 70,376 968 - 50,000 55,000 10.00%-
6303 - LEGAL SERVICES 40,988 27,220 4,433 35,000 35,000 0.00%-
6307 - PROFESSIONAL SERVICES 46,416 18,051 22,080 25,000 25,000 0.00%-
6342 - LEGAL NOTICES - - - 50 50 0.00%-
6361 - GENERAL LIABILITY INSURANCE 9,183 1,490 1,153 1,582 1,677 6.01%-
6381 - ELECTRIC 69 - - - - 0.00%-
6382 - GAS 16 - - - - 0.00%-
6383 - WATER 1,063 1,133 (984) 3,000 3,000 0.00%3,000
6384 - REFUSE DISPOSAL 9 60 - - - 0.00%-
6385 - SEWER 1,456 1,757 (848) 6,000 5,000 -16.67%5,000
6386 - STORM SEWER 36,970 34,507 25,365 40,000 36,000 -10.00%36,000
6389 - STREET LIGHTS 5,322 4,888 3,587 6,000 6,000 0.00%6,000
6405 - PARK & LANDSCAPE SERVICES 22,400 18,062 29,138 15,000 15,000 0.00%15,000
6434 - DUES & SUBSCRIPTIONS - - - 15,000 - -100.00%-
6441 - LICENSES, TAXES & FEES 22,960 60,358 46,645 25,000 25,000 0.00%25,000
6449 - OTHER CONTRACTUAL SERVICE 332,953 179,940 32,619 250,000 803,671 221.47% 803,671
6496 - LOSS ON FIXED ASSET DISPOSAL - - 357,304 - - 0.00%-
6498 - INTERFUND EXPENSE ALLOCATION 65,650 81,782 - 70,000 70,000 0.00%70,000
TOTAL PROFESSIONAL SERVICES 655,831 430,216 524,932 547,632 1,080,398 97.29% 963,671
6510 - LAND - 767,909 - 150,000 370,000 146.67%-
TOTAL CAPITAL OUTLAY - 767,909 - 150,000 370,000 146.67%-
6474 - DEBT SERVICE FUND TRANSFER 2,326,810 2,314,976 - 2,297,451 2,245,713 -2.25% 2,234,513
6482 - MISC TRANSFER OUT - - - 100,000 - -100.00%-
TOTAL TRANSFERS OUT 2,326,810 2,314,976 - 2,397,451 2,245,713 -6.33% 2,234,513
TOTAL BUSINESS UNIT EXPENSES 2,982,641 3,513,101 524,932 3,095,083 3,696,111 19.42% 3,198,184
NET CHANGE IN FUND BALANCE 79,474$ 708,362$ 1,796,223$ 1,255,705$ 1,165,872$ -7.15% 2,885,405$
FUND - 27800
SPECIAL REVENUE FUND
TAX INCREMENT FINANCING (TIF) DISTRICT #3
22
City of Brooklyn Center Decertification Date = 4/19/2021
Tax Increment District #3 Cash Flows Analysis
Revised: 9-14-18
Actual Actual Actual Projected Projected Projected Projected Projected
2015 2016 2017 2018 2019 2020 2021 2022
Revenues:
Tax Increments 2,953,728$ 2,969,836$ 3,922,749$ 4,111,392$ 4,111,392$ 4,111,392$ -$ -$
Interest on Investments 19,833 6,553 9,334 10,690 26,147 26,147 55,287 -
Lease Rentals 177,213 85,081 109,376 92,816 192,942 164,548 96,190 -
Miscellaneous 26,692 1,500,646 22,183 - - - - -
Loan Repayments (housing)- - 69,844
Land Sale (Housing)- - 46,909
Land Sale (non-housing)- - 250,000 1,500,000
Advance Repayment - - 75,978 281,502 281,502 281,502 281,502 178,133
Total 3,177,466 4,562,116 4,256,373 4,496,400 4,861,983 6,083,589 432,979 178,133
Expenditures:
Other Services & Charges 1,483,475 590,181 348,432 477,632 201,727 90,000 - -
Capital Outlay - 615,006 - - - - -
Out of District Spending 767,909 803,671 803,671 803,671
Land Purchases - - 370,000
Interfund Advance to TIF 4 - 1,500,000 - - - - - -
Transfers Out - Debt Service 2,395,981 - - - - - - -
Projected Debt - 2004D - 1,649,960 - - - - - -
Projected Debt - 2008A - 143,063 136,438 129,813 - - - -
Projected Debt - 2013A - 432,838 432,588 430,888 476,963 477,063 2,244,938 2,232,169
Projected Debt - 2015B - 100,500 1,745,950 1,736,750 1,768,750 1,757,450 - -
Transfers Out - EDA Admin - 65,650 81,782 70,000 70,000 70,000 70,000 70,000
Total 3,879,456 5,097,198 3,513,099 3,648,754 3,691,111 3,198,184 2,314,938 2,302,169
Cash Balance - Beginning 2,369,189 1,667,199 1,227,217 2,006,959 2,854,605 4,025,478 6,910,883 5,028,925
Change in Accruals - 95,099 36,468 - - - - -
Revenues 3,177,466 4,562,116 4,256,373 4,496,400 4,861,983 6,083,589 432,979 178,133
Expenditures (3,879,456) (5,097,198) (3,513,099) (3,648,754) (3,691,111) (3,198,184) (2,314,938) (2,302,169)
Cash Balance - Ending 1,667,199$ 1,227,217$ 2,006,959$ 2,854,605$ 4,025,478$ 6,910,883$ 5,028,925$ 2,904,889$
TIF Portion (out of district eligible)- 0 (16,107)
Bond Reserve 2,222,320 3,446,884 3,483,901 3,667,889 4,187,216 6,424,176 4,503,985 2,450,797
Housing Portion (555,121) (2,219,668) (1,460,835) (813,283) (161,738) 486,707 524,939 454,091
Total 1,667,199$ 1,227,217$ 2,023,066$ 2,854,605$ 4,025,478$ 6,910,883$ 5,028,925$ 2,904,889$
HOUSING PORTION
Revenues:
Tax Increments (15% of Total)446,034$ 446,458$ 589,812$ 618,312$ 620,631$ 620,631$ 8,293$ -$
Advance Principal and Interest - - 304,980 281,502 281,502 281,502 281,502 178,133
Loan Repayments - - 69,844 - - - - -
Sale of Property - - 46,909 - - - - -
Expenditures:
Housing Subledger projects 629,794 359,042 - - - - - -
Projected Debt - 2013A 275,700 251,963 252,713 252,263 250,588 253,688 251,563 248,981
Transfers Out - EDA Admin -
Land Purchase - 1,500,000 - - - - - -
Cash Balance - Beginning (95,661) (555,121) (2,219,668) (1,460,835) (813,283) (161,738) 486,707 524,939
Revenues 446,034 446,458 1,011,545 899,815 902,133 902,133 289,795 178,133
Expenditures (905,494) (2,111,005) (252,713) (252,263) (250,588) (253,688) (251,563) (248,981)
Cash Balance - Ending (555,121)$ (2,219,668)$ (1,460,835)$ (813,283)$ (161,738)$ 486,707$ 524,939$ 454,091$
(3,000,000)
(2,000,000)
(1,000,000)
‐
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
2015 2016 2017 2018 2019 2020 2021 2022
Actual Actual Actual Projected Projected Projected Projected Projected
Tax Increment District #3
Revenues:Expenditures:TIF Portion (out of district eligible)Housing Portion
23
2019 Brooklyn Center Department Budget Narrative by Fund
FUND: Fund – 27900
DEPT/DIVISION/ACTIVITY: TIF District #4 – 46414
PROFILE
This fund accounts for all TIF revenues and expenditures for TIF District #4, (Joslyn
Environment Clean Up) for the environmental cleanup and public improvements for the Twin
Lakes Business Park. The district consists of 29.26 acres which were redeveloped into 3
industrial lots with large industrial buildings for Caribou Coffee, Toro/Baker Furniture, and the
former Wickes Furniture Distribution Center.
BACKGROUND OF THE DISTRICT
This District was established in 1999 as a 20 year soils district to assist in certain public
improvement costs, including the street connection of Azelia Ave. to 50th Ave. N, and
supplementing the environmental investigation and clean-up costs of the Josyln Super Fund Site.
The Finance Plan included PAYG Notes (principal amount of $2,424,199 with an annual interest
rate of 8%) with 97.5% of the available annual tax increment (after fiscal disparity deductions)
allocated to the repayment of the PAYG note and 2.5% available for administrative expenses.
The District is scheduled to be decertified on December 31, 2020.
The increase in property valuations of these three industrial buildings enabled the PAYG Note to
be repaid with the tax increment received in 2016.
On February 8, 2016, the EDA approved an administrative budget amendment, consistent with
Minnesota Statutes 469.1763, Subdivision 2(d), to the Finance Plan of Tax Increment Financing
District No. 4 which enabled the Pooling Tax Increment Funds for Affordable Housing. (EDA
Resolution No. 2016-05).
The amended budget included the following changes:
Site Improvements & Preparation $2,424,199
Pooling for Affordable Housing 1,863,373
Administrative Expenses 120,000
I n t e r e s t 2,145,000
T o t a l E x p e n d i t u r e s $6,552,572
T o t a l R e v e n u e s $6,552,572
The EDA financed the acquisition of a 4.5 acre commercial site on Brooklyn Boulevard with the
2013 Bond Issue which allocated TIF 3 Housing Funds for debt service. In 2016, the
development of this site was approved for the Sanctuary of Brooklyn Center, an affordable
senior housing development, which met the Statutory requirements for Pooling of TIF 4 funds.
The following illustrates the 2013 Bond payments for this site and the projected TIF 4 Revenue
available:
24
Advance From TIF 3 Revised Revenue with Contamination Tax
2018 281,502 324,330
2019 281,502 359,864
2020 281,502 343,087
2021 281,502 343,087
2022 280,365
Total $1,406,373 $1,370,368
The 2016 revisions to the tax increment revenue stream as a result of the application of a
contamination tax determination for the former Wickes Furniture lot, causes TIF 4 to fall short
about $318,000. This amount will be covered by the TIF 3 Housing Fund.
The use of TIF 4 Pooling enables the EDA to use the funds pledged for the 2013 debt service for
other eligible Housing activities.
DEPARTMENTAL GOALS
Monitor the status of the contamination tax for PID # 10-118-21-0006 (4837 Azelia Ave.
N. former Wickes Furniture Site)
Develop funding options for EDA’s consideration which promote and enhance affordable
housing opportunities.
PERSONNEL LEVELS
No personnel are assigned to this activity.
CAPITAL OUTLAY
None requested.
25
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4
LAKEBREEZE AVE. N.
LAKESIDE PARK
(TRIANGLE PARK)
0 0.075 0.150.0375
Miles Created by: Brooklyn Center Business and Development Dept./GIS
TIF DISTRICTS
TIF District No. 4
TIF_Project_Boundary_Line/
Document Path: L:\Users\ComDev\TIFareas\TIF_DISTRICT_No_4.mxd
Housing Development and Redevelopment Project No. 01 and
Tax Increment Financing (TIF) District No. 4
29
26
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
46414 - TIF DISTRICT #4
REVENUES
4150 - TAX INCREMENTS 96,112$ 324,330$ 179,932$ 309,225$ 343,087$ 10.95% 343,087$
TOTAL TAXES 96,112 324,330 179,932 309,225 343,087 10.95% 343,087
4603 - INTEREST EARNINGS 1,089 934 650 317 64 -79.81% 64
4605 - UNREALIZED INVESTMENT GAIN/LOSS (530) (934) - - - 0.00% -
TOTAL INVESTMENT EARNINGS 559 - 650 317 64 -79.81% 64
TOTAL REVENUES 96,671 324,330 180,582 309,542 343,151 10.86% 343,151
EXPENDITURES
6441 - LICENSES, TAXES & FEES 1,134 53,459 - - - 0.00% -
6498 - INTERFUND EXPENSE ALLOCATION 5,780 7,159 - 6,000 6,000 0.00% 6,000
TOTAL PROFESSIONAL SERVICES 6,914 60,618 - 6,000 6,000 0.00% 6,000
6510 - LAND 1,500,000 - - - - 0.00% -
TOTAL CAPITAL OUTLAY 1,500,000 - - - - 0.00% -
6602 - OTHER DEBT-PRINCIPAL 166,599 - - 241,990 281,502 16.33% 281,502
6612 - OTHER DEBT-INTEREST - 23,478 - - - 0.00%-
TOTAL DEBT SERVICE 166,599 23,478 - 241,990 281,502 16.33% 281,502
6482 - MISC TRANSFER OUT - - - 10,000 - -100.00%-
TOTAL TRANSFERS OUT - - - 10,000 - -100.00%-
TOTAL BUSINESS UNIT EXPENSES 1,673,513 84,096 - 257,990 287,502 11.44% 287,502
NET CHANGE IN FUND BALANCE (1,576,842)$ 240,234$ 180,582$ 51,552$ 55,649$ 7.95%55,649$
TAX INCREMENT FINANCING (TIF) DISTRICT #4
FUND - 27900
SPECIAL REVENUE FUND
27
City of Brooklyn Center Decertification Date = 12/31/2020
Tax Increment District #4 Cash Flows Analysis
Revised: 9-14-18
Actual Actual Actual Projected Projected Projected Projected Projected
2015 2016 2017 2018 2019 2020 2021 2022
Revenues:
Tax Increments 420,807$ 96,112$ 324,330$ 343,087$ 343,087$ 343,087$ -$ -$
Interest on Investments 558 559 - 317 64 64 - -
Transfers In - 1,500,000 - - - - - -
Total 421,365 1,596,671 324,330 343,404 343,151 343,151 - -
Expenditures:
Other Services & Charges - 1,134 - - - - - -
Capital Outlay - 1,500,000 - - - - - -
PAYGO 635,980 166,599 - - - - - -
Advance Pmts (TIF#3 Interfund)- - 76,937 281,502 281,502 281,502 281,502 281,503
Transfers Out (EDA Admin)4,157 5,780 7,159 6,000 6,000 6,000 - -
Total 640,137 1,673,513 84,096 287,502 287,502 287,502 281,502 281,503
Cash Balance - Beginning 266,629 251,781 311,053 5,475 61,376 117,025 172,673 (108,829)
Change in Accruals 203,924 136,114 (545,812) - - - - -
Revenues 421,365 1,596,671 324,330 343,404 343,151 343,151 - -
Expenditures (640,137) (1,673,513) (84,096) (287,502) (287,502) (287,502) (281,502) (281,503)
Cash Balance - Ending 251,781$ 311,053$ 5,475$ 61,376$ 117,025$ 172,673$ (108,829)$ (390,331)$
PAYGO Balance 351,274 -
Advance payable to TIF 3 1,500,000$ 1,294,476.00 1,033,980.30 788,667.30 534,768.35 271,983.24 (0.00)
(500,000)
‐
500,000
1,000,000
1,500,000
2,000,000
2015 2016 2017 2018 2019 2020 2021 2022
Actual Actual Actual Projected Projected Projected Projected Projected
Tax Increment District #4
Revenues:Expenditures:Cash Balance ‐ Ending PAYGO Balance
G:\Budget\2019 Budget\Cash Flows\2018 Tax Increment Funds 28
2019 Brooklyn Center Department Budget Narrative by Fund
FUND: Fund – 28800
DEPT/DIVISION/ACTIVITY: TIF District #5 – 46415
PROFILE
This fund accounts for all TIF revenues and expenditures for TIF District #5, a Renewal and
Renovation Tax Increment District that was established in 2011 as part of the redevelopment of
the Brookdale Mall properties into the Shingle Creek Crossing PUD.
BACKGROUND OF THE DISTRICT
The development is anchored by a 181,943 sf. Walmart featuring grocery, pharmacy, retail, and
garden center, and includes the following retail/service commercial buildings and/or pad sites:
a 38,000 sf. L.A. Fitness;
a 108,208 sf. pad site former Food Court Building which includes junior box retailers
(TJ Maxx and Michael’s);
twelve retail pad sites comprising 109,034 sf.;
five free standing restaurants pads totaling 23,288 sf.;
a 4,869 sf. Applebees restaurant and a two story 75,000 sf. retail building formerly
occupied by Kohls are part of the PUD, but not included in the TIF District.
The Shingle Creek PUD plans for a total of 540,342 sf. of commercial/service space within this
65 acre development.
The tax increment assistance for this commercial redevelopment was financed through the
following:
- The Tax Increment District 2 Spending Plan, authorized by the 2010 Minnesota Jobs
Bill, provided a $2.4 M inter-fund loan to be repaid by future TIF 5 increment.
- A Pay-As-You-Go promissory note for $2.3 M.
The District’s Finance Plan also identified the potential of Tax Increment Revenue that could
additionally fund $2.3 M of eligible in-district improvements and approximately $1 M for
outside of the district capital improvements and/or property acquisitions.
The first increment for this District was received in 2014.
The first 3 years of tax increment were identified to be distributed as follows:
- 90% to be applied towards the repayment of the $2.3M Promissory Note (6% annual
interest rate);
- 10% to reimburse Administrative Costs.
Beginning with the fourth year:
- 60% of increment to be used to pay off the Promissory Note.
- 10% to reimburse Administrative Costs
- 30% of the increment available for the repayment of the inter-fund loan and
additional EDA approved projects inside and outside of the District.
29
- The additional projects previously considered by the EDA included additional
enhancements to the day-lighted portion of Shingle Creek and enhancements to the
internal streetscape improvements.
- The out of district expenditures the EDA may consider include capital improvements
and property acquisitions, such as the Brooklyn Boulevard Corridor, Humboldt
Avenue Corridor, or 57th Avenue Corridor, or redevelopment activities within the
Opportunity Site.
The District is scheduled to be decertified by December 31, 2029.
At such time as the PAYG Note, Inter Fund Loan are satisfied and there are no outstanding
liabilities or budget activities that the EDA choses to pursue, the remaining fund balance and any
subsequent tax increment revenue received would be considered excess TIF revenue and would
be returned to Hennepin County.
Hennepin County would then redistribute these tax dollars to the taxing authorities.
5 YEAR & 6 YEAR RULES
In 2016, the 5 Year Rule of the Tax Increment Laws came into effect which restricts the use of
Tax Increment Revenue to existing in-district debt obligations with 20% available out-of-district
expenditures (which includes Administrative Fees, in-district and out-of-district expenses).
The Shingle Creek Crossing Project has 4 retail pad sites (53,100 sf.) and 4 restaurant pad sites
(20,800 sf.) to complete the approved PUD plans.
In 2017, the 6 Year Rule further restricts the annual use of tax increment to 80% for debt service
and Out-of-District expenditures to 20%.
TIF #5 based on Hennepin County for the assessment year 2017 is projected to generate a total
of $611,642 in tax increment and $15,354 excess taxes/above frozen levy in 2018.
The following illustrates the budgeted use of funds 95% of projected 2019 revenue $581,060:
80% for Debt Debt Service Debt Service Out-of-District
(2016 Bond) Reserve Expenditures
2019 $464,848 $354,483 $110,365 $116,212
2020 464,848 353,833 111,015 116,212
2021 464,848 353,033 111,815 116,212
2022 464,848 352,010 112,838 116,212
2023 464,848 355,323 109,525 116,212
2024 464,848 373,525 91,323 116,212
2025 464,848 371,825 93,023 116,212
2026 464,848 369,700 95,148 116,212
2027 464,848 371,938 92,910 116,212
2028 464,848 368,563 96,285 116,212
30
2029 464,848 369,563 95,285 116,212
$1,119,532 $1,278,332
EXPENDITURE DETAILS
6474 Debt Service $357,483
6602 Other Debt $122,248
DEPARTMENTAL GOALS
To provide the EDA with options which maximize redevelopment opportunities and strategic
investments within and adjacent to the Shingle Creek Crossing Development that promote the
successful redevelopment of the former Brookdale Mall properties.
PERSONNEL LEVELS
No personnel are directly assigned to this activity.
CAPITAL OUTLAY
None requested.
Opportunities for EDA consideration:
Drainage Improvements associated with the Redevelopment of the Kohl’s Lot
($300,000 PAYG Note to construct stormwater improvements)
31
NO
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CO. RD. NO.10
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55TH AVE.
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No. 3
LIONS
PARK
00.075 0.150.0375
Miles
Created by: Brooklyn Center Business and Development Dept./GIS
TIF DISTRICTS
TIF District No. 5
Central Commerce District/
Document Path: L:\Users\ComDev\TIFareas\TIF_DISTRICT_No_5.mxd
Housing Development and Redevelopment Project No. 01 and
Tax Increment Financing (TIF) District No. 5
3432
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
46415 - TIF DISTRICT #5
REVENUES
4150 - TAX INCREMENTS 601,065$ 577,580$ 247,973$ 544,948$ 581,060$ 6.63% 581,060$
TOTAL TAXES 601,065 577,580 247,973 544,948 581,060 6.63% 581,060
4603 - INTEREST EARNINGS 706 5,946 6,954 3,830 6,823 78.15% 6,823
4605 - UNREALIZED INVESTMENT GAIN/LOSS (664) (2,061) - - - 0.00% -
TOTAL INVESTMENT EARNINGS 42 3,885 6,954 3,830 6,823 78.15% 6,823
4931 - BOND SALES 3,800,000 - - - - 0.00% -
4932 - PREMIUM ON BOND SALES 40,873 - - - - 0.00% -
TOTAL OTHER FINANCING SOURCES 3,840,873 - - - - 0.00% -
TOTAL REVENUES 4,441,980 581,465 254,927 548,778 587,883 7.13% 587,883
EXPENDITURES
6302 - ARCH, ENG & PLANNING - 13,773 - - - 0.00% -
6303 - LEGAL SERVICES - 5,180 - - - 0.00% -
6441 - LICENSES, TAXES & FEES 9,947 14,403 - - - 0.00% -
6449 - OTHER CONTRACTUAL SERVICE - 171,671 38,329 - - 0.00%-
6498 - INTERFUND EXPENSE ALLOCATION 46,141 26,367 - 40,000 40,000 0.00%40,000
TOTAL PROFESSIONAL SERVICES 56,088 231,394 38,329 40,000 40,000 0.00%40,000
6601 - BOND PRINCIPAL - - - 287,929 - -100.00%-
6602 - OTHER DEBT-PRINCIPAL - - - 92,798 116,212 25.23% 116,212
6611 - BOND INTEREST - - - 62,054 - -100.00%-
6612 - OTHER DEBT-INTEREST 2,256,052 9,154 - 6,964 6,036 -13.33%5,099
6621 - BOND ISSUE COSTS 91,232 - - - - 0.00%-
TOTAL DEBT SERVICE 2,347,284 9,154 - 449,745 122,248 -72.82% 121,311
6474 - DEBT SERVICE FUND TRANSFER - 56,514 - - 357,483 100.00% 356,833
6482 - MISC TRANSFER OUT - - - - - 0.00%-
TOTAL TRANSFERS OUT - 56,514 - - 357,483 100.00% 356,833
TOTAL BUSINESS UNIT EXPENSES 2,403,372 297,062 38,329 489,745 519,731 6.12% 518,144
NET CHANGE IN FUND BALANCE 2,038,608$ 284,403$ 216,598$ 59,033$ 68,152$ 15.45%69,739$
TAX INCREMENT FINANCING (TIF) DISTRICT #5
FUND - 28000
SPECIAL REVENUE FUND
33
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34
2019 Brooklyn Center Department Budget Narrative by Fund
FUND: Fund – 27900
DEPT/DIVISION/ACTIVITY: TIF District #6 - 46416
PROFILE
This fund accounts for all TIF revenues and expenditures for TIF District #6, (Sanctuary at
Brooklyn Center) an affordable assisted care senior apartment development and the future
redevelopment of the 4 adjacent lots, comprising approximately 6.27 acres.
BACKGROUND OF THE DISTRICT
On October 26, 2015, the City Council conducted a public hearing on establishing a 25 year
Affordable Housing Tax Increment District for a proposed senior project which would enable the
use of tax increment generated from this development to fund a $1,500,000 PAYG Note and an
additional $300,000 for future land acquisition of two adjacent properties.
The City Council adopted a Resolution No. 2015-63, Approving a Modification to the
Redevelopment Plan for Housing Development Redevelopment Project No. 1 and Establishing a
Tax Increment Financing Plan for TIF District No. 6 (Affordable Senior Housing).
The certification of this District was delayed pending completion of the TIF and PUD
development agreements; EDA’s purchase agreement/land conveyance process; the developer’s
finance plan to obtain tax exempt and tax credit financing.
These conditions have been met and Tax Increment District No. 6 was certified in 2018.
The first year of Tax Increment has been delayed until 2019.
The district is scheduled to be decertified in 2043.
The TIF 6 Finance Plan includes the following budget:
$2,816,236 Public Utilities, Site Improvements, Preparation Costs and Other eligible
improvements;
$2,883,872 Pay-As-You-Go (PAYG) Note
$ 146,157 Administrative Costs
DEPARTMENTAL GOALS
Develop funding strategies and options for the EDA’s consideration which promote and
enhance affordable housing opportunities.
35
PERSONNEL LEVELS
No personnel are assigned to this activity
CAPITAL OUTLAY
None requested.
36
LOCAL STREET
INDEX
ADMIRAL LANE
ADMIRAL PLACE
ALDRICH COURT
ALDRICH DRIVE N.
AMY LANE
AZELIA AVE.
4-B,C
4-B
1-F
5-F
1-E
7-B
53RD AVE N
54TH AVE N
55TH AVE N
56TH AVE N
57TH AVE N
58TH AVE N
59TH AVE N
60TH AVE N
61ST AVE N
62ND AVE N
63RD AVE N
64TH AVE N
65TH AVE N
66TH AVE N
67TH AVE N
68TH AVE N
69TH AVE N
70TH AVE N
71ST AVE N
72ND AVE N
73RD AVE N
WI
L
L
O
W
L
A
N
E
RI
V
E
R
D
A
L
E
A
V
E
N
20
0
DA
L
L
A
S
A
V
E
N
30
0W.
R
I
V
E
R
R
O
A
D
MT
H
2
5
2
5T
H
A
V
E
N
60
0
CA
M
D
E
N
A
V
E
N
70
0
AL
D
R
I
C
H
A
V
E
80
0
BR
Y
A
N
T
A
V
E
N
90
0
CO
L
F
A
X
A
V
E
N
10
0
0
DU
P
O
N
T
A
V
E
N
11
0
0
EM
E
R
S
O
N
A
V
E
N
12
0
0
FR
E
M
O
N
T
A
V
E
N
13
0
0
GI
R
A
R
D
A
V
E
N
14
0
0
HU
M
B
O
L
D
T
A
V
E
N
15
0
0
IR
V
I
N
G
A
V
E
N
16
0
0
JA
M
E
S
A
V
E
N
17
0
0
KN
O
X
A
V
E
N
18
0
0
LO
G
A
N
A
V
E
N
19
0
0
MO
R
G
A
N
A
V
E
N
20
0
0
NE
W
T
O
N
A
V
E
N
21
0
0
OL
I
V
E
R
A
V
E
N
22
0
0
PE
N
N
A
V
E
N
23
0
0
QU
E
E
N
A
V
E
N
24
0
0
RU
S
S
E
L
L
A
V
E
N
25
0
0
SH
E
R
I
D
A
N
A
V
E
N
TH
O
M
A
S
A
V
E
N
UP
T
O
N
A
V
E
N
27
0
0
VI
N
C
E
N
T
A
V
E
N
28
0
0
WA
S
H
B
U
R
N
A
V
E
N
29
0
0
XE
R
X
E
S
A
V
E
N
30
0
0
YO
R
K
A
V
E
N
31
0
0
ZE
N
I
T
H
A
V
E
N
32
0
0
AB
B
O
T
T
A
V
E
N
33
0
0
BE
A
R
D
A
V
E
N
34
0
0
CH
O
W
E
N
A
V
E
N
35
0
0
DR
E
W
A
V
E
N
36
0
0
EW
I
N
G
A
V
E
N
37
0
0
FR
A
N
C
E
A
V
E
N
38
0
0
GR
I
M
E
S
A
V
E
N
40
0
0
HA
L
I
F
A
X
A
V
E
N
41
0
0
IN
D
I
A
N
A
A
V
E
N
42
0
0
JU
N
E
A
V
E
N
43
0
0
KY
L
E
A
V
E
N
44
0
0
LE
E
A
V
E
N
45
0
0
MA
J
O
R
A
V
E
N
46
0
0
NO
B
L
E
A
V
E
N
47
0
0
OR
C
H
A
R
D
A
V
E
N
48
0
0
PE
R
R
Y
A
V
E
N
49
0
0
QU
A
I
L
A
V
E
N
50
0
0
RE
G
E
N
T
A
V
E
N
51
0
0
SC
O
T
T
A
V
E
N
52
0
0
TO
L
E
D
O
A
V
E
N
53
0
0
UN
I
T
Y
A
V
E
N
54
0
0
V ER
A
C
R
U
Z
A
V
E
N
55
0
0
7
6
5
4
3
2
1
A B C D E F G
BOULDER LANE
BROOKLYN BOULEVARD
BROOKLYN DRIVE
BROOKLYN PLACE
BROOKVIEW DRIVE
BURQUEST LANE
CAMDEN COURT
CAMDEN DRIVE
COMMODORE DRIVE
DALLAS ROAD
DUSHARME DRIVE
EARLE BROWN DRIVE
EAST TWIN LAKE BLVD.
ECKBERG DRIVE
ELEANOR LANE
EMERSON LANE
ERICON DRIVE
EWING LANE
FRANCE PLACE
FREEWAY BOULEVARD
FREMONT PLACE
GREAT VIEW AVE.
GRIMES PLACE
HALIFAX DRIVE
HALIFAX PLACE
HILLSVIEW ROAD
HOWE LANE
HUMBOLDT PLACE
IRVING LANE
JAMES CIRCLE
JANET LANE
JOHN MARTIN DRIVE
JOYCE LANE
JUDY LANE
KATHRENE DRIVE
LAKEBREEZE AVE.
LAKE CURVE LANE
LAKESIDE AVE.
LAKESIDE PLACE
LAKEVIEW AVE.
LAWRENCE ROAD
LILAC DRIVE
MARLIN DRIVE
MUMFORD ROAD
NASH ROAD
NOBLE LA
NORTHPORT DRIVE
NORTHWAY DRIVE
OAK STREET
O'HENRY ROAD
OLIVER CIRCLE
ORCHARD LANE
OSSEO ROAD 5300-5800
PALMER LAKE CIRCLE
PALMER LAKE DRIVE
PAUL DRIVE
PEARSON DRIVE
PERRY COURT - EAST/WEST
PERRY PLACE
POE ROAD
PONDS DRIVE N.
QUAIL CIRCLE - EAST/WEST
QUARLES ROAD
SAILOR LANE
SHINGLE CREEK PARKWAY
SHORES DRIVE
SUMMIT DRIVE
THURBER ROAD
TWIN LAKE AVE.
URBAN AVE.
VIOLET AVE.
WILLOW LANE
WINCHESTER LANE
WINGARD LANE
WINGARD PLACE
WOODBINE LANE
XERXES PLACE
YORK PLACE
4TH STREET
5TH STREET
53RD PLACE
58 1/2 AVE.
59 1/2 AVE.
63RD LANE
67TH LANE
68TH LANE
69TH LANE
70TH CIRCLE
71ST CIRCLE
72ND CIRCLE
3-A
1-A,6-C
3-D
1-A
5-D,E
5-B
3-G
2-G
4-C
1-G
7-C
3,4-E
5,6-B
5-B
3-A
1-F
5-D,E
3-C
4-B
2-D,E
2-F
6-B
2-B
3-B
4-B
5-E
2-A
2-E
1-E
3-E
3-B
4-D,E
3-B
5-E
3-B
7-B
4-B
7-B
6-B
7-B
3-C
6-C,3-F
3-B
3-C,D
3-C,D
2-A,B
4,5-C
4-D
6-B
3-C,D
1-F
2-A
5-C
1-C
1-C
3-A
4-B
1-A
1-A
3-C
1-A
1-A
2-C
5-C
2E-4D
4-B
3,4-E
2-C
7-B
1-C
1-C
1,3-G
2-A,B
1-A
1-A
1-B,C,F
2-D
2-C
5-G
2-G
5-C
4-C
4-B
3-F
2-D,F
2-D,F
2-D
1-A
1-A
1-A
BELLVUE LA G-5
RIVERDALE ROAD 1-G
2-GRIVERWOOD LANE
IS
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P
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WEST FIRE
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HENNEPIN CO.
LIBRARY &
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EVERGREEN
ELEMENTARY
SCH OOL
RIV
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R
D
A
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PA
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EAST PALMER
LAKE PARK
WEST PALMER
LAKE PARK
PALMER LAKE
ELEMENTARY
SCH OOL
WILLOW LANE
PARK
AR
B
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MOU
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GARDEN CITY
ELEMENTARY
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MARLIN
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No. 1
EAST FIRE
STATION
FIREHOUSE
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BROOKLYN CENTER
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EARLE
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SCH OOL
BE
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PA
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CENTERBROOK
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KYLAWN
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NORTHPORT
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NORTHPORT
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HAPPY
HOLLOW
PARK
EARLE BROWN
HE RITA GE
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GRANDVIEW
PARK
LIO NS
PARK
N
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S
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CAHLANDER
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WANGSTAD
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POLICE
STATION
TWIN
LAKE
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GARDEN
CITY
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PALMER LAKE
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Community
Center
Housing Development and Redevelopment Project No. 01
and Tax Increment Financing (TIF) District No. 6
00.510.25
Miles Created by: Brooklyn Center Business and Development Dept./GIS
LEGEND
Project Area Boundary
TIF District No. 6 /
Document Path: L:\Users\ComDev\TIFareas\TIF_DISTRICT_No_6.mxd
WANGSTAD
PARK
6121
6107
6201
61013600
3606
61ST AVE N
FR
A
N
C
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A
V
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N
B
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L
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N
B
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40
37
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
46416 - TIF DISTRICT #6
REVENUES
4150 - TAX INCREMENTS -$ -$ -$ -$ 174,016$ 100.00% 177,894$
TOTAL TAXES - - - - 174,016 100.00% 177,894
TOTAL REVENUES - - - - 174,016 100.00% 177,894
EXPENDITURES
6499 - INTERFUND EXPENSE ALLOCATION - - - - 4,350 100.00% 4,447
TOTAL PROFESSIONAL SERVICES - - - - 4,350 100.00% 4,447
6602 - OTHER DEBT-PRINCIPAL - - - - 169,666 100.00% 173,447
TOTAL DEBT SERVICE - - - - 169,666 100.00% 173,447
TOTAL BUSINESS UNIT EXPENSES - - - - 174,016 100.00% 177,894
NET CHANGE IN FUND BALANCE -$ -$ -$ -$ -$ 0.00% -$
FUND - 28100
SPECIAL REVENUE FUND
TAX INCREMENT FINANCING (TIF) DISTRICT #6
38
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Decertification Date = 12/31/2043
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2040 2041 2042 2043
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39
2019 Brooklyn Center Department Budget Narrative by Fund
Department Name: Community Development Block Grant (CDBG) Fund
Department/Division Mission:
To administer grant funds related to the Community Development Block Grant and the Neighborhood
Stabilization Program (NSP).
Department/Division Description:
The CDBG program funded public service agencies, Hennepin County Home Rehabilitation, and Code
Enforcement Activity described as arresting the decline in low to moderate income neighborhoods. The
Neighborhood Stabilization Program was utilized to purchase and rehabilitate vacant properties within the
City.
40
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
46323 - CDBG
REVENUES
4320 - MISC FEDERAL GRANTS 349,186$ 172,518$ 75,000$ 150,000$ 150,000$ 0.00% 150,000$
TOTAL INTERGOVERNMENTAL 349,186 172,518 75,000 150,000 150,000 0.00% 150,000
4606 - OTHER REVENUE 57,669 - - - - 0.00% -
TOTAL MISCELLANEOUS 57,669 - - - - 0.00% -
TOTAL REVENUES 406,855 172,518 75,000 150,000 150,000 0.00% 150,000
EXPENDITURES
6449 - OTHER CONTRACTUAL SERVICE 238,198 30,017 - - - 0.00% -
TOTAL PROFESSIONAL SERVICES 238,198 30,017 - - - 0.00% -
6482 - MISC TRANSFER OUT 88,330 150,000 - 150,000 150,000 0.00% 150,000
TOTAL TRANSFERS OUT 88,330 150,000 - 150,000 150,000 0.00% 150,000
TOTAL BUSINESS UNIT EXPENSES 326,528 180,017 - 150,000 150,000 0.00% 150,000
NET CHANGE IN FUND BALANCE 80,327$ (7,499)$ 75,000$ -$ -$ 0.00% -$
COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG)
FUND - 20400
SPECIAL REVENUE FUND
41
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
42190 - STATE FORFEITURES-DRUG
REVENUES
4506 - STATE FORFEITURE REVENUE 3,485 31,269 21,207 5,000 5,000 0.00% 5,000
TOTAL FINES & FORFEITURES 3,485 31,269 21,207 5,000 5,000 0.00% 5,000
4603 - INTEREST EARNINGS 706 288 680 213 665 212.21% 665
4605 - UNREALIZED INVESTMENT GAIN/LOSS (157) (143) - - - 0.00% -
TOTAL INVESTMENT EARNINGS 549 145 680 213 665 212.21% 665
4915 - TRANSFERS IN 45,000 - - - - 0.00% -
TOTAL TRANSFERS IN 45,000 - - - - 0.00% -
TOTAL REVENUES 49,034 31,414 21,887 5,213 5,665 8.67% 5,665
EXPENDITURES
6214 - CLOTHING & PERSONAL EQUIPMENT - 128 - - - 0.00% -
6242 - MINOR EQUIPMENT 4,439 - - 5,000 5,000 0.00% 5,000
6243 - MINOR COMPUTER EQUIPMENT 67,294 - - - - 0.00% -
TOTAL SUPPLIES 71,733 128 - 5,000 5,000 0.00% 5,000
6402 - EQUIPMENT SERVICES - - - - - 0.00% -
TOTAL PROFESSIONAL SERVICES - - - - - 0.00%-
6550 - MOTOR VEHICLES - - - - 66,000 100.00%-
TOTAL CAPITAL OUTLAY - - - - 66,000 100.00%-
TOTAL BUSINESS UNIT EXPENSES 71,733 128 - 5,000 71,000 1320.00%5,000
42191 - FEDERAL FORFEITURES-DRUG
REVENUES
4505 - FEDERAL FORFEITURE REVENUE 25,000 20,000 - 5,000 5,000 0.00%5,000
TOTAL FINES & FORFEITURES 25,000 20,000 - 5,000 5,000 0.00%5,000
4603 - INTEREST EARNINGS 289 522 144 532 160 -69.92%160
4605 - UNREALIZED INVESTMENT GAIN/LOSS - (62) - - - 0.00%-
TOTAL INVESTMENT EARNINGS 289 460 144 532 160 -69.92%160
TOTAL REVENUES 25,289 20,460 144 5,532 5,160 -6.72%5,160
EXPENDITURES
6242 - MINOR EQUIPMENT 57 - - 5,000 5,000 0.00%5,000
6243 - MINOR COMPUTER EQUIPMENT 7,976 21,238 - - - 0.00%-
TOTAL SUPPLIES 8,033 21,238 - 5,000 5,000 0.00%5,000
6307 - PROFESSIONAL SERVICES 8,088 10,953 - - - 0.00%-
6333 - FREIGHT/DRYAGE - 39 - - - 0.00%-
6422 - SOFTWARE MAINTENANCE - 2,725 - - - 0.00%-
6423 - LOGIS CHARGES - 8,136 1,170 - - 0.00%-
TOTAL PROFESSIONAL SERVICES 8,088 21,853 1,170 - - 0.00%5,000
TOTAL BUSINESS UNIT EXPENSES 16,121 43,091 1,170 5,000 5,000 0.00%5,000
42193 - DUI FORFEITURE FUND
REVENUES
4506 - STATE FORFEITURE REVENUE - - 1,375 3,000 3,000 0.00%3,000
TOTAL FINES & FORFEITURES - - 1,375 3,000 3,000 0.00%3,000
4603 - INTEREST EARNINGS 259 282 10 345 8 -97.68%8
4605 - UNREALIZED INVESTMENT GAIN/LOSS - - - - - 0.00%-
TOTAL INVESTMENT EARNINGS 259 282 10 345 8 -97.68%8
TOTAL REVENUES 259 282 1,385 3,345 3,008 -10.07%3,008
EXPENDITURES
6219 - GENERAL OPERATING SUPPLIES - - - 2,400 2,400 0.00%2,400
6242 - MINOR EQUIPMENT - - - - - 0.00%-
6243 - MINOR COMPUTER EQUIPMENT - 29,472 - - - 0.00%-
6421 - SOFTWARE LICENSE - 3,784 - - - 0.00%-
TOTAL SUPPLIES - 33,256 - 2,400 2,400 0.00%2,400
6441 - LICENSES, TAXES & FEES - 77 - 100 100 0.00%100
6447 - TOWING CHARGES - - - - - 0.00%-
6449 - OTHER CONTRACTUAL SERVICES 1,601 102 - 500 500 0.00%500
TOTAL PROFESSIONAL SERVICES 1,601 179 - 600 600 0.00%600
TOTAL BUSINESS UNIT EXPENSES 1,601 33,435 - 3,000 3,000 0.00%3,000
NET CHANGE IN FUND BALANCE (14,873)$ (24,498)$ 22,246$ 1,090$ (65,167)$ -6078.62%833$
POLICE FORFEITURES
FUND - 20500
SPECIAL REVENUE FUND
42
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
28600 - CITY INITIATIVES GRANT FUND
REVENUES
4603 - INTEREST EARNINGS 3,624$ 1,075$ 1,015$ 1,383$ 981$ -29.07% 981$
4605 - UNREALIZED INVESTMENT GAIN/LOSS (498) (86) - - - 0.00% -
TOTAL INVESTMENT EARNINGS 3,126 989 1,015 1,383 981 -29.07% 981
TOTAL REVENUES 3,126 989 1,015 1,383 981 -29.07% 981
42185 - POLICE GRANTS-MISC
REVENUES
4320 - MISC FEDERAL GRANTS 30,868 31,676 10,493 31,665 32,000 1.06% 32,000
4359 - OTHER STATE GRANTS/AID 23,516 23,043 11,522 23,043 23,000 -0.19% 23,000
4362 - COUNTY GRANTS/AID 20,000 19,329 15,976 20,000 20,000 0.00% 20,000
TOTAL INTERGOVERNMENTAL 74,384 74,048 37,991 74,708 75,000 0.39% 75,000
4603 - INTEREST EARNINGS - - - - - 0.00% -
TOTAL INVESTMENT EARNINGS - - - - - 0.00% -
4612 - DONATIONS & CONTRIBUTIONS - - 15,022 - - 0.00% -
TOTAL MISCELLANEOUS - - 15,022 - - 0.00% -
TOTAL REVENUES 74,384 74,048 53,013 74,708 75,000 0.39% 75,000
EXPENDITURES
6101 - WAGES & SALARIES-FT EMPLOYEES 35,926 35,788 - 33,852 36,000 6.35%36,000
6102 - OVERTIME-FT EMPLOYEES 7,807 8,077 9,692 8,261 8,500 2.89%8,500
6103 - WAGES-PART TIME EMPLOYEES 6,989 222 25,644 6,940 300 -95.68%300
6122 - PERA COORDINATED PLAN 1,907 2,268 1,923 1,780 2,300 29.21%2,300
6123 - PERA POLICE & FIRE PLAN 1,265 1,341 1,509 1,338 1,350 0.90%1,350
6125 - FICA - SOCIAL SECURITY 2,129 2,469 1,590 2,019 2,500 23.82%2,500
6126 - FICA - MEDICARE 607 704 513 597 750 25.63%750
6131 - CAFETERIA PLAN CONTRIBUTIONS 2,594 4,094 - 4,140 4,100 -0.97%4,100
6151 - WORKER'S COMP INSURANCE 484 526 486 481 600 24.74%600
TOTAL PERSONAL SERVICES 59,708 55,489 41,357 59,408 56,400 -5.06%56,400
6214 - CLOTHING & PERSONAL EQUIPMENT 1,168 - 496 5,700 - -100.00%-
6219 - GENERAL OPERATING SUPPLIES 8,472 11,328 20,282 6,000 11,300 88.33%11,300
TOTAL SUPPLIES 9,640 11,328 20,778 11,700 11,300 -3.42%11,300
6307 - PROFESSIONAL SERVICES - - 352 - - 0.00%-
6432 - CONFERENCES AND SCHOOLS 3,615 7,297 5,788 3,600 7,300 102.78%7,300
6433 - MEETING EXPENSES - - - - - 0.00%-
6434 - DUES AND SUBSCRIPTIONS - - 100 - - 0.00%-
TOTAL PROFESSIONAL SERVICES 3,615 7,297 6,240 3,600 7,300 102.78%7,300
6461 - FUEL CHARGES 1,422 - - - - 0.00%-
TOTAL CENTRAL GARAGE CHARGES 1,422 - - - - 0.00%-
6482 - MISC TRANSFER OUT 91,275 - - - - 0.00%-
TOTAL TRANSFERS OUT 91,275 - - - - 0.00%-
TOTAL BUSINESS UNIT EXPENSES 165,660 74,114 68,375 74,708 75,000 0.39%75,000
CITY GRANTS
FUND - 28600
SPECIAL REVENUE FUND
43
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
42187 - AUTO THEFT GRANT
REVENUES
4359 - OTHER STATE GRANTS/AID 85,465 108,430 61,937 121,779 126,820 4.14% 131,566
TOTAL INTERGOVERNMENTAL 85,465 108,430 61,937 121,779 126,820 4.14% 131,566
TOTAL REVENUES 85,465 108,430 61,937 121,779 126,820 4.14% 131,566
EXPENDITURES
6101 - WAGES & SALARIES-FT EMPLOYEES 53,925 71,947 58,154 82,046 87,131 6.20% 89,745
6102 - OVERTIME-FT EMPLOYEES 1,472 3,586 - - - 0.00% -
6123 - PERA POLICE & FIRE PLAN 10,176 12,236 9,421 13,073 14,115 7.97% 15,212
6126 - FICA - MEDICARE 965 1,022 813 1,239 1,263 1.94% 1,301
6131 - CAFETERIA PLAN CONTRIBUTIONS 12,257 12,578 10,073 15,747 14,433 -8.34% 15,302
6151 - WORKER'S COMP INSURANCE 3,171 3,576 3,027 4,074 4,278 5.01% 4,406
TOTAL PERSONAL SERVICES 81,966 104,945 81,488 116,179 121,220 4.34% 125,966
6214 - CLOTHING & PERSONAL EQUIPMENT - - 300 - - 0.00% -
6219 - GENERAL OPERATING SUPPLIES 3,500 2,811 4,800 5,100 5,100 0.00% 5,100
6432 - CONFERENCES AND SCHOOLS - - 775 500 500 0.00% 500
TOTAL SUPPLIES 3,500 2,811 5,875 5,600 5,600 0.00%5,600
6321 - TELEPHONE/PAGERS - 674 - - - 0.00%-
TOTAL PROFESSIONAL SERVICES - 674 - - - 0.00%-
6545 - OTHER EQUIPMENT - - - - - 0.00%-
TOTAL CAPITAL OUTLAY - - - - - 0.00%-
TOTAL BUSINESS UNIT EXPENSES 85,466 108,430 87,363 121,779 126,820 4.14% 131,566
42215 - FIRE GRANTS
REVENUES
4373 - OTHER GRANTS/AID - 25,000 1 - - 0.00%-
TOTAL REVENUES - 25,000 1 - - 0.00%-
EXPENDITURES
6214 - CLOTHING & PERSONAL EQUIPMENT -$ 3,514$ -$ -$ -$ 0.00%-$
6217 - SAFETY SUPPLIES - 9,807 - - - 0.00%-
TOTAL SUPPLIES - 13,321 - - - 0.00%-
6305 - MEDICAL SERVICES - 8,562 - - - 0.00%-
6351 - PRINTING - 486 - - - 0.00%-
6432 - CONFERENCES AND SCHOOLS - 1,980 - - - 0.00%-
6449 - OTHER CONTRACTUAL SERVICE - 652 - - - 0.00%-
TOTAL PROFESSIONAL SERVICES - 11,680 - - - 0.00%-
TOTAL BUSINESS UNIT EXPENSES - 25,001 - - - 0.00%-
42412 - CFMH CLASSES
REVENUES
4492 - SPECIAL EVENTS 1,120 1,435 953 - 1,500 100.00%1,500
TOTAL REVENUES 1,120 1,435 953 - 1,500 100.00%1,500
EXPENDITURES
6219 - GENERAL OPERATING SUPPLIES 71 198 - - 200 100.00%200
TOTAL SUPPLIES 71 198 - - 200 1 200
6433 - MEETING EXPENSES 445 801 650 - 800 100.00%800
TOTAL PROFESSIONAL SERVICES 445 801 650 - 800 100.00%800
TOTAL BUSINESS UNIT EXPENSES 516 999 650 - 1,000 100.00%1,000
44
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
45015 - NW CABLE COMMUNICATIONS GRANT
REVENUES
4373 - OTHER GRANTS/AID 39,820 36,009 30,769 36,000 40,000 11.11% 40,000
TOTAL INTERGOVERNMENTAL 39,820 36,009 30,769 36,000 40,000 11.11% 40,000
4603 - INTEREST EARNINGS - - - - - 0.00% -
TOTAL INVESTMENT EARNINGS - - - - - 0.00% -
TOTAL REVENUES 39,820 36,009 30,769 36,000 40,000 11.11% 40,000
6307 - PROFESSIONAL SERVICES 38,248 7,396 - 10,000 10,000 0.00% 10,000
6342 - LEGAL NOTICES 92 - - - - 0.00% -
6441 - LICENSES, TAXES & FEES 4,498 - - - - 0.00% -
TOTAL PROFESSIONAL SERVICES 42,838 7,396 - 10,000 10,000 0.00% 10,000
6540 - EQUIPMENT & MACHINERY 27,200 275,269 - - - 0.00% -
TOTAL CAPITAL OUTLAY 27,200 275,269 - - - 0.00% -
TOTAL BUSINESS UNIT EXPENSES 70,038 282,665 - 10,000 10,000 0.00% 10,000
45020 - RECREATION GRANTS
REVENUES
4373 - OTHER GRANTS/AID - 13,000 4,000 - - 0.00% -
4473 - CHILDREN RECREATION PROGRAMS 1,293 570 - 1,350 500 -62.96%500
4492 - SPECIAL EVENTS 10,215 11,996 15,799 12,000 12,500 4.17%12,500
TOTAL CHARGES FOR SERVICES 11,508 25,566 19,799 13,350 13,000 -2.62%13,000
4603 - INTEREST EARNINGS - - - - - 0.00%-
TOTAL INVESTMENT EARNINGS - - - - - 0.00%-
4612 - DONATIONS & CONTRIBUTIONS 24,705 67,897 5,435 15,400 20,200 31.17%20,200
4921 - REFUNDS & REIMBURSEMENTS 22,302 65 8,399 2,500 - -100.00%-
TOTAL MISCELLANEOUS 47,007 67,962 13,834 17,900 20,200 12.85%20,200
TOTAL REVENUES 58,515 93,528 33,633 31,250 33,200 6.24%33,200
EXPENDITURES
6103 - WAGES-PART TIME EMPLOYEES 9,928 7,942 2,522 12,700 5,000 -60.63%5,000
6122 - PERA COORDINATED PLAN 382 280 130 945 375 -60.32%375
6125 - FICA - SOCIAL SECURITY 616 492 156 781 311 -60.18%311
6126 - FICA - MEDICARE 144 115 37 182 73 -59.89%73
6151 - WORKER'S COMP INSURANCE 286 220 75 345 140 -59.42%140
TOTAL PERSONAL SERVICES 11,356 9,049 2,920 14,953 5,899 -60.55%5,899
6219 - GENERAL OPERATING SUPPLIES 17,297 25,242 6,680 19,400 16,500 -14.95%16,500
TOTAL SUPPLIES 17,297 25,242 6,680 19,400 16,500 -14.95%16,500
6307 - PROFESSIONAL SERVICES 800 200 - - - 0.00%-
6322 - POSTAGE - - - - - 0.00%-
6339 - OTHER TRANSPORTATION EXPENSE 279 - - 500 - -100.00%-
6349 - OTHER ADVERTISING - - - - - 0.00%-
6369 - OTHER INSURANCE - - - - - 0.00%-
6431 - SPECIAL EVENTS - - - - - 0.00%-
6449 - OTHER CONTRACTUAL SERVICE 18,538 7,464 10,835 55,600 5,700 -89.75%5,800
6499 - EXPENSES REIMBURSED - 10,586 - - - 0.00%-
TOTAL PROFESSIONAL SERVICES 19,617 18,250 10,835 56,100 5,700 -89.84%5,800
6530 - IMPROVEMENTS - - 16,801 - - 0.00%-
TOTAL CAPITAL OUTLAY - - 16,801 - - 0.00%-
TOTAL BUSINESS UNIT EXPENSES 48,270 52,541 37,236 90,453 28,099 -68.94%28,199
45
Internal Service Funds
Central Garage
46
City of Brooklyn Center
2019 Budget - Internal Service Funds Summary
70100
Central
Garage Total
Revenues
Charges for goods and services 1,814,290$ 1,814,290$
Investment earnings 62,784 62,784
Total Revenues 1,877,074 1,877,074
Expenditures
Capital outlay 1,236,800 1,236,800
Internal service operations 2,026,129 2,026,129
Total Expenditures/Expenses 3,262,929 3,262,929
Other Financing Sources and Uses
Transfers out (42,314) (42,314)
Total Other Financing Sources & Uses (42,314) (42,314)
Net Change in Fund Balance (1,428,169)$ (1,428,169)$
47
2019 Brooklyn Center Department Budget Narrative
Department Name: Public Works Central Garage
Department Mission:
The mission of the Brooklyn Center Central Garage is to provide efficient centralized management of
fuel, preventive maintenance, repair and replacement of the city equipment fleet, effectively serving the
needs of all departmental customers.
Department Description:
The Central Garage provides fuel, scheduled and emergency repairs and maintenance for 142 pieces of
capital equipment, 12 pieces of specialized equipment and 104 pieces of small equipment that make up
the city fleet. The equipment is comprised of pieces from all departments and includes: fire trucks, police
squad cars, dump trucks, loaders, tractors, pickups, staff cars, mowers, trailers, chain saws, pumps,
generators and other miscellaneous equipment. The Central Garage administers the funding, replacement
schedule and disposal of equipment in the fleet. The Central Garage coordinates vehicle turnover by
determining and charging departments appropriate monthly amounts to ensure that vehicle replacement
funds are available when vehicles are ready for replacement. On an annual basis, replacement costs,
useful lives and salvage values must be individually determined for the entire fleet to calculate monthly
replacement charges.
Key Initiatives focused on the achievement of strategic priorities/value propositions
Financial Stability
Improve cost controls through improved analysis and reporting
In 2019 we will improve and promote inclusive reviews of monthly departmental reporting and annual
budgeting with individual departments. We will also develop and implement a Central Garage Policy to
establish a sound business approach associated with the cost benefits of vehicles and equipment and its
capabilities, funding purchases through a “pay-as-you-go” methodology, and making decisions on
acquisition and replacement considering the level of usage and demonstrated needs.
Best practice reviews to identify better methods of efficiency improvement
In 2019 we will continue to improve and implement equipment replacement tracking methodology. A
scoring methodology will be developed to assist fleet replacement decision making. This methodology
will be incorporated into the Central Garage Policy.
Staffing Levels
P o s i t i o n s FTEs 2018 2019 2020
Crew Leader/Mechanic
Mechanic
Night Service Person
Administrative Technician
1
2
1
1
1
2
1
1
1
2
1
1
48
Strategic Functions/Division(s):
Perform routine and scheduled preventative maintenance on all fleet equipment.
Determine and maintain appropriate fund balances for scheduled replacement of fleet and
equipment.
Purchase new equipment and dispose of old equipment per established schedule and scoring.
Provide departmental users with detailed monthly billing documenting fuel usage, repairs, and
fixed charges.
Annual Goal and Strategies:
1. Achieve maximum equipment life through preventative maintenance strategies.
a. Implement asset management system to ensure on-time maintenance actions.
b. Monitor equipment repair frequency to minimize downtime.
c. Develop and refine task code system to define maintenance actions.
2. Implement effective financial practices to provide required equipment funding.
a. Conduct annual review and update of equipment replacement costs.
b. Use cooperative purchasing contracts to manage cost control.
c. Manage auction process to maximize return on equipment disposal.
3. Optimize fleet software program to manage equipment asset data.
a. Provide detailed monthly cost reports for departmental users.
b. Monitor equipment efficiency and cost of ownership.
c. Evaluate equipment utilization.
Annual Operating Goal Performance Measures:
Performance Objectives
Description of Performance Measure Performance Levels
*Actual Value Target Value
Number of annual DOT Commercial Vehicle Insp. 21 27
Fleet Availability Rate- Percentage of time fleet
manager can ensure the regular availability of a
vehicle
TBD
>95%
PM program compliance- The percentage of
preventive maintenance tasks performed on
schedule
TBD
> 95%
Scheduled Repair Rate- The portion of repairs that
are identified and conducted resulting in less
unexpected breakdowns
TBD
> 65%
Road Call/Tow rate- repairs that are conducted on
broken down or towed vehicles that cannot make it
to the shop. (Effectiveness of PM process)
TBD
< 2%
Comeback Rate- Frequency of vehicles returning to
the shop for the same issue.
TBD 0
Repair turnover rate TBD 1-2 days
49
Mechanics billable time (2 mechanics plus night
service person)
56.8% > or = 75%
*2017 data
**Billable time for 2016 was low due to work being done on the vehicle lifts 2 and 3.
Capital Outlay and Other Initiatives with Significant Budget Impact
The following equipment is scheduled for replacement in 2019 and 2020.
MAKE/MODEL
DEPT
CITY ID
REPLACEMENT
YEAR
COST - Net
Trade
Freightliner Salvage Fire 0001 2019 $329,000
Hypac Roller Street 0017 2019 $37,800
Sterling L8500 Street 0042 2019 $182,000
Paint Striper Street 0046 2019 $81,500
Air Compressor Street 0051 2019 $28,500
Ford Fusion Street 0057 2019 $20,500
Ford F350 Parks 0206 2019 $44,500
Garbage Truck (New) Parks $120,000
Ford Fusion Police 0300 2019 $22,000
Ford SUV Interceptor Police 0323 2019 $34,500
Ford PI Utility Police 0337 2019 $34,500
Smart Trailer Police 0356 2019 $17,000
Ford Fusion Police 0383 2019 $22,000
Freightliner-Jet Sewer 0604 2019 $198,000
Godwin Trash Pump Sewer 0612 2019 $41,000
Ford F-150 Building 0701 2019 $24,000
TOTAL CAPITAL OUTLAY REQUEST FOR 2019 $1,236,800
Ford F150 4X4 Street 0025 2020 $29,000
Ford F350 Street 0037 2020 $59,000
Sterling L8500 Street 0090 2020 $188,000
Sterling L8500 Street 0091 2020 $188,000
Sterling L8500 Street 0092 2020 $188,000
Toro Workman 3200 Parks 0242 2020 $21,000
Ford E250 Cargo Van Parks 0251 2020 $22,000
Toro 72” Mower 3280D Parks 0259 2020 $23,500
Ford F150 4WD Police 0310 2020 $36,000
Ford F150 Police 0318 2020 $34,000
Ford SUV Interceptor Police 0322 2020 $36,000
Ford SUV Interceptor Police 0324 2020 $36,000
Ford SUV Interceptor Police 0331 2020 $36,000
Ford SUV Interceptor Police 0332 2020 $36,000
Ford SUV Interceptor Police 0335 2020 $36,000
Chevrolet Impala Police 0389 2020 $26,000
50
Ford F150 Water 0601 2020 $24,000
Caterpillar 420D Water 0608 2020 $125,000
Ford Fusion Econ. Dev. 0704 2020 $20,500
TOTAL CAPITAL OUTLAY REQUEST FOR 2020 $1,164,000
51
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
49951 - CENTRAL GARAGE OPERATIONS
OPERATING REVENUES
4862 - FUEL SALES-INTERNAL 146,238 167,471 152,432 218,827 226,824 3.65% 233,629
4862.1 - FUEL SALES-EXTERNAL 77,013 78,813 53,048 123,893 90,000 -27.36% 93,000
4863 - REPLACEMENT CHARGES 840,532 894,293 612,878 898,772 954,526 6.20% 983,162
4864 - OVERHEAD CHARGES 233,940 187,574 115,284 169,025 133,340 -21.11% 137,341
4865 - REPAIR/MAINT CHARGES 307,591 405,802 312,372 400,000 409,600 2.40% 421,888
TOTAL SALES AND USER FEES 1,605,314 1,733,953 1,246,014 1,810,517 1,814,290 0.21% 1,869,020
TOTAL OPERATING REVENUES 1,605,314 1,733,953 1,246,014 1,810,517 1,814,290 0.21% 1,869,020
OPERATING EXPENSES
6101 - WAGES & SALARIES-FT EMPLOYEES 253,247 290,413 200,744 298,891 307,861 3.00% 317,095
6102 - OVERTIME-FT EMPLOYEES 449 - 45 400 1,000 150.00%1,000
6103 - WAGES-PART TIME EMPLOYEES - - 1,028 - - 0.00%-
6111 - SEVERANCE PAY 1,389 1,687 - - - 0.00%-
6122 - PERA COORDINATED PLAN 19,027 21,781 15,059 22,416 23,120 3.14% 23,812
6125 - FICA - SOCIAL SECURITY 14,303 17,078 12,064 18,531 19,112 3.14% 19,685
6126 - FICA - MEDICARE 3,345 3,994 2,821 4,334 4,469 3.11%4,604
6131 - CAFETERIA PLAN CONTRIBUTIONS 62,546 67,440 50,363 71,485 72,165 0.95% 76,510
6151 - WORKER'S COMP INSURANCE 9,311 9,304 7,118 9,789 10,307 5.29% 10,617
TOTAL PERSONAL SERVICES 363,617 411,697 289,242 425,846 438,034 2.86% 453,323
6201 - OFFICE SUPPLIES 434 590 320 415 450 8.43%450
6203 - BOOKS/REFERENCE MATERIALS - 480 - 200 200 0.00%200
6212 - MOTOR FUELS 220,745 249,631 220,173 342,720 357,500 4.31% 370,000
6213 - LUBRICANTS & ADDITIVES 13,736 11,945 7,517 17,500 17,500 0.00% 17,500
6215 - SHOP MATERIALS 8,231 9,335 6,475 8,250 8,250 0.00%8,250
6217 - SAFETY SUPPLIES 512 774 412 1,320 3,820 189.39%1,320
6218 - WELDING SUPPLIES 4,923 4,518 3,223 4,870 4,870 0.00%4,870
6219 - GENERAL OPERATING SUPPLIES 960 1,409 519 1,450 1,450 0.00%1,450
6221 - MOTOR VEHICLES 88,588 90,203 66,729 85,000 87,550 3.00% 90,176
6222 - TIRES 17,479 20,415 13,146 19,100 19,100 0.00% 19,100
6227 - PAINT SUPPLIES 98 60 - 210 210 0.00%210
6239 - OTHER REPAIR & MAINT SUPPLIES 714 1,737 282 600 600 0.00%600
6241 - SMALL TOOLS 3,245 2,331 4,086 3,900 3,900 0.00%3,900
6242 - MINOR EQUIPMENT 3,658 23,705 23,517 15,700 8,500 -45.86%5,000
6243 - MINOR COMPUTER EQUIPMENT - - - - - 0.00%2,100
TOTAL SUPPLIES 363,323 417,133 346,399 501,235 513,900 2.53% 525,126
6307 - PROFESSIONAL SERVICES 23,367 2,292 3,249 2,500 2,500 0.00%2,500
6321 - TELEPHONE/PAGERS 184 350 694 675 640 -5.19%640
6323 - RADIO COMMUNICATIONS 1,080 686 920 600 600 0.00%600
6331 - TRAVEL EXPENSE/MILEAGE 43 - 33 - - 0.00%-
6333 - FREIGHT/DRAYAGE 169 - 309 620 620 0.00%620
6351 - PRINTING 244 2,347 272 340 340 0.00%340
6401 - MOTOR VEHICLE SERVICES 37,971 104,695 81,913 67,000 67,000 0.00% 67,000
6402 - EQUIPMENT SERVICES 6,610 6,587 29,891 5,950 5,950 0.00%5,950
6406 - MULTI-FUNCTION MTNCE 836 752 324 900 900 0.00%900
6417 - UNIFORMS 2,058 1,899 1,301 2,500 2,500 0.00%2,500
6421 - SOFTWARE LICENSE - - - - - 0.00%-
6422 - SOFTWARE MAINT 6,460 7,363 8,881 6,900 6,900 0.00%-
6423 - LOGIS CHARGES 4,988 5,127 3,621 5,258 5,485 4.32%5,669
6432 - CONFERENCES AND SCHOOLS 899 1,446 1,777 2,500 2,500 0.00%2,500
6433 - MEETING EXPENSES 36 - - 100 100 0.00%100
6434 - DUES & SUBSCRIPTIONS 389 529 395 150 150 0.00%150
6441 - LICENSES, TAXES & FEES 5,839 1,426 2,036 2,200 1,100 -50.00%2,200
6447 - TOWING CHARGES 540 430 450 1,300 1,300 0.00%1,300
6449 - OTHER CONTRACTUAL SERVICE 33,585 4,162 1,866 1,620 1,620 0.00%1,620
TOTAL SERVICES & OTHER CHARGES 125,298 140,091 137,932 101,113 100,205 -0.90% 94,589
6363 - MOTOR VEHICLE INSURANCE 51,777 38,401 36,478 40,705 43,147 6.00% 43,147
6367 - EQUIPMENT (INLAND MARINE)16,377 7,080 6,575 7,505 7,955 6.00%7,955
TOTAL INSURANCE 68,154 45,481 43,053 48,210 51,102 6.00% 51,102
6388 - HAZARDOUS WASTE DISPOSAL 335 374 603 1,500 1,500 0.00%1,500
TOTAL UTILITIES 335 374 603 1,500 1,500 0.00%1,500
CENTRAL GARAGE
FUND - 70100
INTERNAL SERVICE FUND
52
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
6461 - FUEL CHARGES 580 130 291 822 822 0.00% 847
6463 - REPAIR & MAINT CHARGES - 117 - - - 0.00% -
TOTAL CENTRAL GARAGE CHARGES 580 247 291 822 822 0.00% 847
6540 - EQUIPMENT & MACHINERY - - - 160,000 - -100.00% -
6550 - MOTOR VEHICLES 1,743 - 838,210 1,233,500 1,236,800 0.27% 1,164,000
TOTAL CAPITAL OUTLAY 1,743 - 838,210 1,393,500 1,236,800 -11.25% 1,164,000
6494 - DEPRECIATION EXPENSE 824,158 806,062 - 866,300 920,566 6.26% 920,566
TOTAL DEPRECIATION 824,158 806,062 - 866,300 920,566 6.26% 920,566
TOTAL OPERATING EXPENSES 1,747,208 1,821,085 1,655,730 3,338,526 3,262,929 -2.26% 3,211,053
OPERATING INCOME (141,894) (87,132) (409,716) (1,528,009) (1,448,639) -5.19% (1,342,033)
NONOPERATING REVENUES
4359 - OTHER STATE GRANTS/AID - 10,932 - - - 0.00% -
4362- COUNTY GRANTS/AID - 50,227 - - - 0.00% -
TOTAL INTERGOVERNMENTAL - 61,159 - - - 0.00% -
4603 - INTEREST EARNINGS 47,433 58,081 56,534 49,307 62,784 27.33% 62,784
4605 - UNREALIZED INVESTMENT GAIN/LOSS (7,816) (15,629) - - - 0.00%-
TOTAL INVESTMENT EARNINGS 39,617 42,452 56,534 49,307 62,784 27.33% 62,784
4606 - OTHER REVENUE 1,637 406 133 - - 0.00%-
4612 - DONATIONS & CONTRIBUTIONS 10,000 - - - - 0.00%-
4911 - SALE OF PROPERTY - 6,102 - - - 0.00%-
4919 - GAIN ON FIXED ASSET DISPOSAL 57,765 82,224 56,430 - - 0.00%-
4921 - REFUNDS & REIMBURSEMENTS 8,048 34,373 18,125 - - 0.00%-
TOTAL MISCELLANEOUS 77,450 123,105 74,688 - - 0.00%-
4915 - TRANSFERS IN 7,536 - - - - 0.00%-
TOTAL NONOPERATING REVENUES 124,603 226,716 131,222 49,307 62,784 27.33% 62,784
NONOPERATING EXPENSES
6496 - LOSS ON FIXED ASSET DISPOSAL 27,988 3,737 - - - 0.00%-
6471 - ADMINISTRATIVE SERVICE TRANSFER 41,464 43,242 28,209 42,314 42,314 0.00% 42,314
TOTAL NONOPERATING EXPENSES 69,452 46,979 28,209 42,314 42,314 0.00% 42,314
NET CHANGE IN FUND BALANCE (86,743)$ 92,605$ (306,703)$ (1,521,016)$ (1,428,169)$ -6.10% (1,321,563)$
53
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1,267,66 9 $ 912,500 $ 1,532,411 $
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54
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General Obligation Tax Increment Bonds
55
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20
1
3
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2
0
1
5
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1
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A Total
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Pr
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3
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2
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$
2
4
6
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9
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3
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$
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$
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$
-
$ 1,394,062 $
Sp
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c
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9
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2
4
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3
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8
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1
3
6
,
7
2
5
2
2
4
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2
0
7
-
-
-
-
695,527
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a
r
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s
3
,
0
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2
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,
6
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-
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-
-
-
-
-
4,671
To
t
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R
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v
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n
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e
s
59
5
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7
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0
8
9
4
1
8
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0
0
6
4
7
1
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1
6
0
-
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-
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2,094,260
Ex
p
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s
De
b
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e
6
0
0
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3
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9
0
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2
6
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3
,
1
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0
4
5
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,
8
3
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7
8
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3
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1
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8
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3
2
5
1
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7
6
8
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7
5
0
4
7
6
,
9
6
3
4,427,835
To
t
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l
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x
p
e
n
d
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t
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s
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p
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60
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3
5
0
3
9
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2
6
9
2
0
3
,
1
0
0
4
5
2
,
8
3
7
1
7
8
,
0
8
3
3
0
9
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1
5
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4
8
,
3
2
5
1
,
7
6
8
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7
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4,427,835
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-
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3
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1
5
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4
8
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3
2
5
1
,
7
6
8
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7
5
0
4
7
6
,
9
6
3
2,603,196
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-$ 269,621 $
56
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
47526 - 2013B-GO IMPROVEMENT BONDS
REVENUES
4101 - CURRENT AD VALOREM TAXES 384,818$ 387,160$ 391,461$ 396,739$ 396,452$ -0.07% (385,509)$
4120 - DELINQUENT AD VALOREM TAXES 2,123 1,212 - - - 0.00% -
4154 - PENALTIES & INT-DELINQ TAXES (320) (8) - - - 0.00% -
TOTAL TAXES 386,621 388,364 391,461 396,739 396,452 -0.07% (385,509)
4601 - SPECIAL ASSESSMENTS 320,919 269,398 239,614 214,347 196,247 -8.44% 186,672
TOTAL SPECIAL ASSESSMENTS 320,919 269,398 239,614 214,347 196,247 -8.44% 186,672
4603 - INTEREST EARNINGS 4,309 4,830 5,571 2,976 3,012 1.21% 3,012
4605 - UNREALIZED INVESTMENT GAIN/LOSS (1,675) (2,521) - - - 0.00% -
TOTAL INVESTMENT EARNINGS 2,634 2,309 5,571 2,976 3,012 1.21% 3,012
TOTAL REVENUES 710,174 660,071 636,646 614,062 595,711 -2.99% (195,825)
EXPENDITURES
6601 - BOND PRINCIPAL 515,000 520,000 520,000 520,000 530,000 1.92% 535,000
6611 - BOND INTEREST 115,725 100,200 100,200 84,600 68,850 -18.62% 52,875
6621 - PAYING AGENT/OTHER FEES 1,923 2,220 1,500 1,500 1,500 0.00% 1,500
TOTAL DEBT SERVICE 632,648 622,420 621,700 606,100 600,350 -0.95% 589,375
TOTAL BUSINESS UNIT EXPENSES 632,648 622,420 621,700 606,100 600,350 -0.95% 589,375
NET CHANGE IN FUND BALANCE 77,526$ 37,651$ 14,946$ 7,962$ (4,639)$ -158.26% (785,200)$
FUND - 31600
DEBT SERVICE FUND
G.O. IMPROVEMENT BONDS, 2013-B
57
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
47527 - 2015A-GO IMPROVEMENT BONDS
REVENUES
4101 - CURRENT AD VALOREM TAXES 246,071$ 243,367$ 246,070$ 250,961$ 252,287$ 0.53% 253,543$
4120 - DELINQUENT AD VALOREM TAXES - 95 - - - 0.00% -
4154 - PENALTIES & INT-DELINQ TAXES - 45 - - - 0.00% -
TOTAL TAXES 246,071 243,507 246,070 250,961 252,287 0.53% 253,543
4601 - SPECIAL ASSESSMENTS 224,445 208,441 162,357 151,674 138,348 -8.79% 134,025
TOTAL SPECIAL ASSESSMENTS 224,445 208,441 162,357 151,674 138,348 -8.79% 134,025
4603 - INTEREST EARNINGS 548 2,476 2,933 - 1,659 100.00% 1,659
4605 - UNREALIZED INVESTMENT GAIN/LOSS (297) (1,504) - - - 0.00% -
TOTAL INVESTMENT EARNINGS 251 972 2,933 - 1,659 100.00% 1,659
TOTAL REVENUES 470,767 452,920 411,360 402,635 392,294 -2.57% 389,227
EXPENDITURES
6601 - BOND PRINCIPAL - 332,497 332,497 325,978 332,497 2.00% 335,757
6611 - BOND INTEREST 77,213 69,441 69,441 62,857 56,272 -10.48% 49,589
6621 - PAYING AGENT/OTHER FEES 1,750 1,220 1,500 1,500 1,500 0.00% 1,500
TOTAL DEBT SERVICE 78,963 403,158 403,438 390,335 390,269 -0.02% 386,846
6482 - MISC TRANSFER OUT 407,569 - - - - 0.00%-
TOTAL TRANSFERS 407,569 - - - - 0.00%-
TOTAL BUSINESS UNIT EXPENSES 486,532 403,158 403,438 390,335 390,269 -0.02% 386,846
NET CHANGE IN FUND BALANCE (15,765)$ 49,762$ 7,922$ 12,300$ 2,025$ -83.54%2,381$
G.O. IMPROVEMENT BONDS, 2015-A
FUND - 31700
DEBT SERVICE FUND
58
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
47528 - 2016A-GO IMPROVEMENT BONDS
REVENUES
4101 - CURRENT AD VALOREM TAXES -$ 210,102$ 212,436$ 213,948$ 217,089$ 1.47% 214,806$
4120 - DELINQUENT AD VALOREM TAXES - 82 - - - 0.00% -
4154 - PENALTIES & INT-DELINQ TAXES - 38 - - - 0.00% -
TOTAL TAXES - 210,222 212,436 213,948 217,089 1.47% 214,806
TOTAL REVENUES - 210,222 212,436 213,948 217,089 1.47% 214,806
EXPENDITURES
6601 - BOND PRINCIPAL - - - 155,000 170,000 9.68% 175,000
6611 - BOND INTEREST - 29,120 29,120 34,850 31,600 -9.33% 28,150
6621 - PAYING AGENT/OTHER FEES - 450 1,500 1,500 1,500 0.00% 1,500
TOTAL DEBT SERVICE - 29,570 30,620 191,350 203,100 6.14% 204,650
TOTAL BUSINESS UNIT EXPENSES - 29,570 30,620 191,350 203,100 6.14% 204,650
NET CHANGE IN FUND BALANCE -$ 180,652$ 181,816$ 22,598$ 13,989$ -38.10% 10,156$
G.O. IMPROVEMENT BONDS, 2016-A
FUND - 31800
DEBT SERVICE FUND
59
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
47529 - 2017A-GO IMPROVEMENT BONDS
REVENUES
4101 - CURRENT AD VALOREM TAXES -$ -$ -$ 280,962$ 281,281$ 0.11% 280,486$
TOTAL TAXES - - - 280,962 281,281 0.11% 280,486
4601 - SPECIAL ASSESSMENTS - 378,803 - 128,701 136,725 6.23% 133,086
4607 - SPECIAL ASSESSMENTS INTEREST - 94 - - - 0.00% -
TOTAL SPECIAL ASSESSMENTS - 378,897 - 128,701 136,725 6.23% 133,086
4603 - INTEREST EARNINGS - 1,772 - 189 - -100.00% -
4605 - UNREALIZED INVESTMENT GAIN/LOSS - (1,210) - - - 0.00% -
TOTAL INVESTMENT EARNINGS - 562 - 189 - -100.00% -
TOTAL REVENUES - 379,459 - 409,852 418,006 1.99% 413,572
EXPENDITURES
6601 - BOND PRINCIPAL - - - - 350,000 100.00% 350,000
6611 - BOND INTEREST - - - 122,280 101,337 -17.13% 90,838
6621 - PAYING AGENT/OTHER FEES - - - 1,500 1,500 0.00% 1,500
TOTAL DEBT SERVICE - - - 123,780 452,837 265.84% 442,338
TOTAL BUSINESS UNIT EXPENSES - - - 123,780 452,837 265.84% 442,338
NET CHANGE IN FUND BALANCE -$ 379,459$ -$ 286,072$ (34,831)$ -112.18%(28,766)$
G.O. IMPROVEMENT BONDS, 2017-A
FUND - 31900
DEBT SERVICE FUND
60
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
47530 - 2018A-GO IMPROVEMENT BONDS
REVENUES
4101 - CURRENT AD VALOREM TAXES -$ -$ -$ -$ 246,953$ 100.00% 252,329$
TOTAL TAXES - - - - 246,953 100.00% 252,329
4601 - SPECIAL ASSESSMENTS - - - - 224,207 100.00% 217,801
TOTAL SPECIAL ASSESSMENTS - - - - 224,207 100.00% 217,801
TOTAL REVENUES - - - - 471,160 100.00% 470,130
EXPENDITURES
6601 - BOND PRINCIPAL - - - - - 0.00% 345,000
6611 - BOND INTEREST - - - - 176,583 100.00% 158,225
6621 - PAYING AGENT/OTHER FEES - - - - 1,500 100.00% 1,500
TOTAL DEBT SERVICE - - - - 178,083 100.00% 504,725
TOTAL BUSINESS UNIT EXPENSES - - - - 178,083 100.00% 504,725
NET CHANGE IN FUND BALANCE -$ -$ -$ -$ 293,077$ 100.00% (34,595)$
G.O. IMPROVEMENT BONDS, 2018-A
FUND - 32000
DEBT SERVICE FUND
61
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
47618 - 2016C-GO TIF BONDS
REVENUES
4915.8 - TRANSFERS IN FROM TIF #5 FUND - 24,708 - 304,658 309,158 1.48% 308,508
TOTAL TRANSFERS IN - 24,708 - 304,658 309,158 1.48% 308,508
TOTAL REVENUES - 24,708 - 304,658 309,158 1.48% 308,508
EXPENDITURES
6601 - BOND PRINCIPAL - - - 270,000 280,000 3.70% 285,000
6611 - BOND INTEREST - 23,208 - 33,158 27,658 -16.59% 22,008
6621 - PAYING AGENT/OTHER FEES - - - 1,500 1,500 0.00% 1,500
TOTAL DEBT SERVICE - 23,208 - 304,658 309,158 1.48% 308,508
TOTAL BUSINESS UNIT EXPENSES - 23,208 - 304,658 309,158 1.48% 308,508
NET CHANGE IN FUND BALANCE -$ 1,500$ -$ -$ -$ 0.00% -$
G.O. TAX INCREMENT BONDS, 2016-C
FUND - 37200
DEBT SERVICE FUND
62
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
47617 - 2016B-GO TIF BONDS
REVENUES
4915.8 - TRANSFERS IN FROM TIF #5 FUND - 31,806 - 48,325 48,325 0.00% 48,325
TOTAL TRANSFERS IN - 31,806 - 48,325 48,325 0.00% 48,325
TOTAL REVENUES - 31,806 - 48,325 48,325 0.00% 48,325
EXPENDITURES
6611 - BOND INTEREST - 30,306 - 46,825 46,825 0.00% 46,825
6621 - PAYING AGENT/OTHER FEES - - - 1,500 1,500 0.00% 1,500
TOTAL DEBT SERVICE - 30,306 - 48,325 48,325 0.00% 48,325
TOTAL BUSINESS UNIT EXPENSES - 30,306 - 48,325 48,325 0.00% 48,325
NET CHANGE IN FUND BALANCE -$ 1,500$ -$ -$ -$ 0.00% -$
G.O. TAX INCREMENT BONDS, 2016-B
FUND - 37300
DEBT SERVICE FUND
63
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
47616 - 2015B-GO TIF BONDS
REVENUES
4931 - BOND SALES -$ -$ -$ -$ -$ 0.00% -$
TOTAL OTHER FINANCING SOURCES - - - - - 0.00% -
4915.5 - TRANSFERS IN FROM TIF #3 FUND 100,500 1,745,950 1,745,950 1,738,250 1,768,750 1.75% 1,757,450
TOTAL TRANSFERS IN 100,500 1,745,950 1,745,950 1,738,250 1,768,750 1.75% 1,757,450
TOTAL REVENUES 100,500 1,745,950 1,745,950 1,738,250 1,768,750 1.75% 1,757,450
EXPENDITURES
6601 - BOND PRINCIPAL - 1,570,000 1,570,000 1,610,000 1,690,000 4.97% 1,730,000
6611 - BOND INTEREST 210,100 174,450 174,450 126,750 77,250 -39.05% 25,950
6621 - PAYING AGENT/OTHER FEES 450 450 1,500 1,500 1,500 0.00% 1,500
TOTAL DEBT SERVICE 210,550 1,744,900 1,745,950 1,738,250 1,768,750 1.75% 1,757,450
TOTAL BUSINESS UNIT EXPENSES 210,550 1,744,900 1,745,950 1,738,250 1,768,750 1.75% 1,757,450
NET CHANGE IN FUND BALANCE (110,050)$ 1,050$ -$ -$ -$ 0.00% -$
G.O. TAX INCREMENT BONDS, 2015-B
FUND - 37400
DEBT SERVICE FUND
64
2018
2016 2017 September 2018 2019 2020
Object Code / Description Actual Actual YTD Budget Budget Change Budget
47610 - 2013A-GO TIF BONDS
REVENUES
4915.5 - TRANSFERS IN FROM TIF #3 FUND 432,838$ 432,588$ 432,588$ 430,888$ 476,963$ 10.69% 477,063$
TOTAL TRANSFERS IN 432,838 432,588 432,588 430,888 476,963 10.69% 477,063
TOTAL REVENUES 432,838 432,588 432,588 430,888 476,963 10.69% 477,063
EXPENDITURES
6601 - BOND PRINCIPAL 260,000 265,000 265,000 270,000 325,000 20.37% 335,000
6611 - BOND INTEREST 171,338 166,088 166,088 159,388 150,463 -5.60% 140,563
6621 - PAYING AGENT/OTHER FEES - 425 1,500 1,500 1,500 0.00% 1,500
TOTAL DEBT SERVICE 431,338 431,513 432,588 430,888 476,963 10.69% 477,063
TOTAL BUSINESS UNIT EXPENSES 431,338 431,513 432,588 430,888 476,963 10.69% 477,063
NET CHANGE IN FUND BALANCE 1,500$ 1,075$ -$ -$ -$ 0.00% -$
G.O. TAX INCREMENT BONDS, 2013-A
FUND - 37500
DEBT SERVICE FUND
65
City of Brooklyn Center
2019 Debt Service
Required Principal Payments
Original Issue Prior Years 2019 Balance Due Final Maturity
Issue Name Amount Payments Payment 12/31/2019 Date
Improvement Bonds
2013 Street Improvement Bonds 4,920,000$ 2,360,000$ 530,000$ 2,030,000$ 2/1/2024
2015 Street Improvement Bonds 3,416,248 658,475 332,497 2,425,276 2/1/2026
2016 Street Improvement Bonds 1,820,000 155,000 170,000 1,495,000 2/1/2027
2017 Street Improvement Bonds 3,735,000 - 350,000 3,385,000 2/1/2028
2018 Street Improvement Bonds 4,000,000 - - 4,000,000 2/1/2029
17,891,248 3,173,475 1,382,497 9,335,276
Tax Increment Bonds
2013 G.O. Tax Increment Bonds 6,040,000 1,045,000 325,000 4,670,000 2/1/2022
2015 G.O. Tax Increment Bonds 6,600,000 3,180,000 1,690,000 1,730,000 2/1/2020
2016B G.O. Tax Increment Bonds 2,075,000 - - 2,075,000 2/1/2029
2016C G.O. Tax Increment Bonds 1,725,000 270,000 280,000 1,175,000 2/1/2023
16,440,000 4,495,000 2,295,000 9,650,000
Utility Revenue Bonds (Paid from Utility Bonds)
2015 G.O. Utility Revenue Bonds 1,823,752 351,525 177,503 1,294,724 2/1/2026
2015 G.O. Refunding Bonds 1,660,000 470,000 165,000 1,025,000 2/1/2026
2016 G.O. Utility Revenue Bonds 3,605,000 305,000 335,000 2,965,000 2/1/2027
2017 G.O. Utility Revenue Bonds 4,625,000 - 405,000 4,220,000 2/1/2028
2018 G.O. Utility Revenue Bonds 4,530,000 - - 4,530,000 2/1/2029
Public Facilities Loan (PFA)* 19,662,352 2,915,907 973,000 15,773,445 8/20/2034
35,906,104 4,042,432 2,055,503 29,808,169
TOTAL BONDED INDEBTEDNESS 70,237,352$ 11,710,907$ 5,733,000$ 48,793,445$
*Estimated amounts (the amounts will be finalized with the closeout of Water Treatment Plant Project)
66
City of Brooklyn Center
2019 Debt Service Funds
Debt Payment Revenues & Expenditures
Assessment Property Tax Interest TOTAL
Revenues Revenue Revenue Income BUDGET
Improvement Bonds
2013 Street Improvement Bonds 196,247$ 396,453$ 6,347$ 599,047$
2015 Street Improvement Bonds 138,348 252,287 3,798 394,433
2016 Street Improvement Bonds - 217,089 1,618 218,707
2017 Street Improvement Bonds 136,725 281,281 6,772 424,778
2018 Street Improvement Bonds 224,207 246,953 4,004 475,164
695,527 1,394,063 22,539 2,112,129
Tax Increment Bonds
2008 G.O. Tax Increment Bonds - 129,813 - 129,813
2013 G.O. Tax Increment Bonds - 430,888 - 430,888
2015 G.O. Tax Increment Bonds - 1,738,250 - 1,738,250
2016B G.O. Tax Increment Bonds - 48,325 - 48,325
2016C G.O. Tax Increment Bonds - 304,658 - 304,658
- 2,651,934 - 2,651,934
TOTAL DEBT SERVICE REVENUES 695,527$ 4,045,997$ 22,539$ 4,764,063$
Principal Interest Agent Fees TOTAL
Expenditures Payment Payments and Administration BUDGET
Improvement Bonds
2013 Street Improvement Bonds 530,000$ 68,850$ 1,500$ 600,350$
2015 Street Improvement Bonds 332,497 56,272 1,500 390,269
2016 Street Improvement Bonds 170,000 31,600 1,500 203,100
2017 Street Improvement Bonds 350,000 101,338 1,500 452,838
2018 Street Improvement Bonds - 88,217 1,500 89,717
1,382,497 346,277 7,500 1,736,274
Tax Increment Bonds
2013 G.O. Tax Increment Bonds 325,000 150,463 1,500 476,963
2015 G.O. Tax Increment Bonds 1,690,000 77,250 1,500 1,768,750
2016B G.O. Tax Increment Bonds - 46,825 1,500 48,325
2016C G.O. Tax Increment Bonds 280,000 27,658 1,500 309,158
2,295,000 302,196 6,000 2,603,196
TOTAL DEBT SERVICE EXPENDITURES 3,677,497$ 648,473$ 13,500$ 4,339,470$
NET TOTAL DEBT SERVICE BUDGET 424,593$
67
$11,000,000
City of Brooklyn Center, Minnesota
General Obligation Improvement and Utility Revenue Bonds, Series 2019A
ISSUE SUMMARY
Total Issue Sources And Uses
Dated 05/01/2019 | Delivered 05/01/2019
Street
Improvement
Portion
Water
Improvements
Sewer
Improvements
Storm Drainage
Improvements Issue Summary
Sources Of Funds
Par Amount of Bonds..................................... $5,055,000.00 $2,565,000.00 $1,730,000.00 $1,650,000.00 $11,000,000.00
Reoffering Premium....................................... 143,020.70 74,538.50 50,376.55 47,977.90 315,913.65
Total Sources................................................$5,198,020.70 $2,639,538.50 $1,780,376.55 $1,697,977.90 $11,315,913.65
Uses Of Funds
Deposit to Project Construction Fund.............5,110,000.00 2,600,000.00 1,750,000.00 1,670,000.00 11,130,000.00
Total Underwriter's Discount (1.000%).......... 50,550.00 25,650.00 17,300.00 16,500.00 110,000.00
Costs of Issuance...........................................33,914.44 17,208.82 11,606.74 11,070.00 73,800.00
Rounding Amount..........................................3,556.26 (3,320.32) 1,469.81 407.90 2,113.65
Total Uses.....................................................$5,198,020.70 $2,639,538.50 $1,780,376.55 $1,697,977.90 $11,315,913.65
2019A GO Imp & Utl Rev Bo | Issue Summary | 10/ 3/2018 | 4:26 PM
68
$11,000,000
City of Brooklyn Center, Minnesota
General Obligation Improvement and Utility Revenue Bonds, Series 2019A
ISSUE SUMMARY
DEBT SERVICE SCHEDULE
Date Principal Coupon Interest Total P+I 105% Levy Fiscal Total
05/01/2019 ------
02/01/2020 -- 246,864.39 246,864.39 259,207.61 259,207.61
08/01/2020 -- 164,576.25 164,576.25 172,805.06 -
02/01/2021 1,025,000.00 2.550% 164,576.25 1,189,576.25 1,249,055.06 1,421,860.13
08/01/2021 -- 151,507.50 151,507.50 159,082.88 -
02/01/2022 1,025,000.00 2.600% 151,507.50 1,176,507.50 1,235,332.88 1,394,415.75
08/01/2022 -- 138,182.50 138,182.50 145,091.63 -
02/01/2023 1,050,000.00 2.700% 138,182.50 1,188,182.50 1,247,591.63 1,392,683.25
08/01/2023 -- 124,007.50 124,007.50 130,207.88 -
02/01/2024 1,060,000.00 2.750% 124,007.50 1,184,007.50 1,243,207.88 1,373,415.75
08/01/2024 -- 109,432.50 109,432.50 114,904.13 -
02/01/2025 1,080,000.00 2.850% 109,432.50 1,189,432.50 1,248,904.13 1,363,808.25
08/01/2025 -- 94,042.50 94,042.50 98,744.63 -
02/01/2026 1,105,000.00 3.000% 94,042.50 1,199,042.50 1,258,994.63 1,357,739.25
08/01/2026 -- 77,467.50 77,467.50 81,340.88 -
02/01/2027 1,120,000.00 3.150% 77,467.50 1,197,467.50 1,257,340.88 1,338,681.75
08/01/2027 -- 59,827.50 59,827.50 62,818.88 -
02/01/2028 1,150,000.00 3.300% 59,827.50 1,209,827.50 1,270,318.88 1,333,137.75
08/01/2028 -- 40,852.50 40,852.50 42,895.13 -
02/01/2029 1,180,000.00 3.350% 40,852.50 1,220,852.50 1,281,895.13 1,324,790.25
08/01/2029 -- 21,087.50 21,087.50 22,141.88 -
02/01/2030 1,205,000.00 3.500% 21,087.50 1,226,087.50 1,287,391.88 1,309,533.75
Total $11,000,000.00 - $2,208,831.89 $13,208,831.89 $13,869,273.48 -
SIGNIFICANT DATES
Dated................................................................................................................................................................................. 5/01/2019
Delivery Date..................................................................................................................................................................... 5/01/2019
First Coupon Date.............................................................................................................................................................. 2/01/2020
Yield Statistics
Bond Year Dollars..............................................................................................................................................................$70,455.00
Average Life.......................................................................................................................................................................6.405 Years
Average Coupon................................................................................................................................................................ 3.1350960%
Net Interest Cost (NIC).......................................................................................................................................................2.8428334%
True Interest Cost (TIC)..................................................................................................................................................... 2.7971497%
Bond Yield for Arbitrage Purposes..................................................................................................................................... 2.6266275%
All Inclusive Cost (AIC)...................................................................................................................................................... 2.9128215%
IRS Form 8038
Net Interest Cost................................................................................................................................................................ 2.5982431%
Weighted Average Maturity................................................................................................................................................ 6.438 Years
Interest rates are estimates. Changes in rates may
cause significant alterations to this schedule.
The actual underwriter's discount bid may also vary.
2019A GO Imp & Utl Rev Bo | Issue Summary | 10/ 3/2018 | 4:26 PM
69
$11,000,000
City of Brooklyn Center, Minnesota
General Obligation Improvement and Utility Revenue Bonds, Series 2019A
ISSUE SUMMARY
NET DEBT SERVICE SCHEDULE
Date Principal Coupon Interest Total P+I 105% of Total Assessment Utility
Revenues
Levy Required
02/01/2020 - - 246,864.39 246,864.39 259,207.61 - - 259,207.61
02/01/2021 1,025,000.00 2.550% 329,152.50 1,354,152.50 1,421,860.13 412,133.33 733,383.00 276,343.80
02/01/2022 1,025,000.00 2.600% 303,015.00 1,328,015.00 1,394,415.75 382,160.00 735,210.00 277,045.75
02/01/2023 1,050,000.00 2.700% 276,365.00 1,326,365.00 1,392,683.25 370,920.00 741,604.50 280,158.75
02/01/2024 1,060,000.00 2.750% 248,015.00 1,308,015.00 1,373,415.75 359,680.00 736,370.25 277,365.50
02/01/2025 1,080,000.00 2.850% 218,865.00 1,298,865.00 1,363,808.25 348,440.00 735,805.88 279,562.38
02/01/2026 1,105,000.00 3.000% 188,085.00 1,293,085.00 1,357,739.25 337,200.00 739,449.38 281,089.88
02/01/2027 1,120,000.00 3.150% 154,935.00 1,274,935.00 1,338,681.75 325,960.00 736,299.38 276,422.38
02/01/2028 1,150,000.00 3.300% 119,655.00 1,269,655.00 1,333,137.75 314,720.00 736,958.25 281,459.50
02/01/2029 1,180,000.00 3.350% 81,705.00 1,261,705.00 1,324,790.25 303,480.00 741,205.50 280,104.75
02/01/2030 1,205,000.00 3.500% 42,175.00 1,247,175.00 1,309,533.75 292,240.00 738,990.00 278,303.75
Total $11,000,000.00 - $2,208,831.89 $13,208,831.89 $13,869,273.48 $3,446,933.33 $7,375,276.13 $3,047,064.03
Dated...................................................................................................................................................................................................5/01/2019
Delivery Date...........................................................................................................................................................................................5/01/2019
First Coupon Date.......................................................................................................................................................................................2/01/2020
Yield Statistics
Bond Year Dollars.......................................................................................................................................................................................$70,455.00
Average Life............................................................................................................................................................................................6.405 Years
Average Coupon..........................................................................................................................................................................................3.1350960%
Net Interest Cost (NIC)................................................................................................................................................................................. 2.8428334%
True Interest Cost (TIC)................................................................................................................................................................................ 2.7971497%
Bond Yield for Arbitrage Purposes....................................................................................................................................................................... 2.6266275%
All Inclusive Cost (AIC)................................................................................................................................................................................2.9128215%
IRS Form 8038
Net Interest Cost.......................................................................................................................................................................................2.5982431%
Weighted Average Maturity............................................................................................................................................................................... 6.438 Years
2019A GO Imp & Utl Rev Bo | Issue Summary | 10/ 3/2018 | 4:26 PM
70
Preliminary
$2,810,000
City of Brooklyn Center, Minnesota
General Obligation Improvement and Utility Revenue Bonds, Series 2019A
Assessments
ASSESSMENT INCOME
Date Principal Coupon Interest Total P+I
12/31/2019 ----
12/31/2020 281,000.00 4.000%131,133.33 412,133.33
12/31/2021 281,000.00 4.000%101,160.00 382,160.00
12/31/2022 281,000.00 4.000%89,920.00 370,920.00
12/31/2023 281,000.00 4.000%78,680.00 359,680.00
12/31/2024 281,000.00 4.000%67,440.00 348,440.00
12/31/2025 281,000.00 4.000%56,200.00 337,200.00
12/31/2026 281,000.00 4.000%44,960.00 325,960.00
12/31/2027 281,000.00 4.000%33,720.00 314,720.00
12/31/2028 281,000.00 4.000%22,480.00 303,480.00
12/31/2029 281,000.00 4.000%11,240.00 292,240.00
Total $2,810,000.00 -$636,933.33 $3,446,933.33
SIGNIFICANT DATES
Filing Date.........................................................................................................................................................................11/01/2019
First Payment Date........................................................................................................................................................... 12/31/2020
2019A Assessments 2018-10 | SINGLE PURPOSE | 10/ 3/2018 | 4:32 PM
71
$5,055,000
City of Brooklyn Center, Minnesota
General Obligation Improvement and Utility Revenue Bonds, Series 2019A
Street Improvement Portion
NET DEBT SERVICE SCHEDULE
Date Principal Coupon Interest Total P+I 105% of Total Assessment Levy Required
02/01/2020 - - 113,019.38 113,019.38 118,670.35 - 118,670.35
02/01/2021 505,000.00 2.550% 150,692.50 655,692.50 688,477.13 412,133.33 276,343.80
02/01/2022 490,000.00 2.600% 137,815.00 627,815.00 659,205.75 382,160.00 277,045.75
02/01/2023 495,000.00 2.700% 125,075.00 620,075.00 651,078.75 370,920.00 280,158.75
02/01/2024 495,000.00 2.750% 111,710.00 606,710.00 637,045.50 359,680.00 277,365.50
02/01/2025 500,000.00 2.850% 98,097.50 598,097.50 628,002.38 348,440.00 279,562.38
02/01/2026 505,000.00 3.000% 83,847.50 588,847.50 618,289.88 337,200.00 281,089.88
02/01/2027 505,000.00 3.150% 68,697.50 573,697.50 602,382.38 325,960.00 276,422.38
02/01/2028 515,000.00 3.300% 52,790.00 567,790.00 596,179.50 314,720.00 281,459.50
02/01/2029 520,000.00 3.350% 35,795.00 555,795.00 583,584.75 303,480.00 280,104.75
02/01/2030 525,000.00 3.500% 18,375.00 543,375.00 570,543.75 292,240.00 278,303.75
Total $5,055,000.00 - $995,914.38 $6,050,914.38 $6,353,460.10 $3,446,933.33 $2,906,526.77
Dated..................................................................................................................................................................... 5/01/2019
Delivery Date......................................................................................................................................................... 5/01/2019
First Coupon Date..................................................................................................................................................2/01/2020
Yield Statistics
Bond Year Dollars..................................................................................................................................................$31,856.25
Average Life.......................................................................................................................................................... 6.302 Years
Average Coupon.................................................................................................................................................... 3.1262763%
Net Interest Cost (NIC).......................................................................................................................................... 2.8360013%
True Interest Cost (TIC)......................................................................................................................................... 2.7908205%
Bond Yield for Arbitrage Purposes......................................................................................................................... 2.6266275%
All Inclusive Cost (AIC).......................................................................................................................................... 2.9082545%
IRS Form 8038
Net Interest Cost....................................................................................................................................................2.5899399%
Weighted Average Maturity....................................................................................................................................6.335 Years
2019A GO Imp & Utl Rev Bo | Street Improvement Portio | 10/ 3/2018 | 4:26 PM
72
$2,565,000
City of Brooklyn Center, Minnesota
General Obligation Improvement and Utility Revenue Bonds, Series 2019A
Water Improvements
DEBT SERVICE SCHEDULE
Date Principal Coupon Interest Total P+I 105% Levy
02/01/2020 --57,735.00 57,735.00 60,621.75
02/01/2021 225,000.00 2.550%76,980.00 301,980.00 317,079.00
02/01/2022 230,000.00 2.600%71,242.50 301,242.50 316,304.63
02/01/2023 240,000.00 2.700%65,262.50 305,262.50 320,525.63
02/01/2024 245,000.00 2.750%58,782.50 303,782.50 318,971.63
02/01/2025 250,000.00 2.850%52,045.00 302,045.00 317,147.25
02/01/2026 260,000.00 3.000%44,920.00 304,920.00 320,166.00
02/01/2027 265,000.00 3.150%37,120.00 302,120.00 317,226.00
02/01/2028 275,000.00 3.300%28,772.50 303,772.50 318,961.13
02/01/2029 285,000.00 3.350%19,697.50 304,697.50 319,932.38
02/01/2030 290,000.00 3.500%10,150.00 300,150.00 315,157.50
Total $2,565,000.00 -$522,707.50 $3,087,707.50 $3,242,092.88
SIGNIFICANT DATES
Dated................................................................................................................................................................................ 5/01/2019
Delivery Date.................................................................................................................................................................... 5/01/2019
First Coupon Date.............................................................................................................................................................2/01/2020
Yield Statistics
Bond Year Dollars.............................................................................................................................................................$16,638.75
Average Life..................................................................................................................................................................... 6.487 Years
Average Coupon............................................................................................................................................................... 3.1415070%
Net Interest Cost (NIC)..................................................................................................................................................... 2.8476839%
True Interest Cost (TIC).................................................................................................................................................... 2.8016607%
Bond Yield for Arbitrage Purposes.................................................................................................................................... 2.6266275%
All Inclusive Cost (AIC)..................................................................................................................................................... 2.9159659%
IRS Form 8038
Net Interest Cost...............................................................................................................................................................2.6042663%
Weighted Average Maturity...............................................................................................................................................6.520 Years
Interest rates are estimates. Changes in rates may
cause significant alterations to this schedule.
The actual underwriter's discount bid may also vary.
2019A GO Imp & Utl Rev Bo | Water Improvements | 10/ 3/2018 | 4:26 PM
73
$1,730,000
City of Brooklyn Center, Minnesota
General Obligation Improvement and Utility Revenue Bonds, Series 2019A
Sewer Improvements
DEBT SERVICE SCHEDULE
Date Principal Coupon Interest Total P+I 105% Levy
02/01/2020 --38,960.63 38,960.63 40,908.66
02/01/2021 150,000.00 2.550%51,947.50 201,947.50 212,044.88
02/01/2022 155,000.00 2.600%48,122.50 203,122.50 213,278.63
02/01/2023 160,000.00 2.700%44,092.50 204,092.50 214,297.13
02/01/2024 165,000.00 2.750%39,772.50 204,772.50 215,011.13
02/01/2025 170,000.00 2.850%35,235.00 205,235.00 215,496.75
02/01/2026 175,000.00 3.000%30,390.00 205,390.00 215,659.50
02/01/2027 180,000.00 3.150%25,140.00 205,140.00 215,397.00
02/01/2028 185,000.00 3.300%19,470.00 204,470.00 214,693.50
02/01/2029 190,000.00 3.350%13,365.00 203,365.00 213,533.25
02/01/2030 200,000.00 3.500%7,000.00 207,000.00 217,350.00
Total $1,730,000.00 -$353,495.63 $2,083,495.63 $2,187,670.41
SIGNIFICANT DATES
Dated................................................................................................................................................................................ 5/01/2019
Delivery Date.................................................................................................................................................................... 5/01/2019
First Coupon Date.............................................................................................................................................................2/01/2020
Yield Statistics
Bond Year Dollars.............................................................................................................................................................$11,247.50
Average Life..................................................................................................................................................................... 6.501 Years
Average Coupon............................................................................................................................................................... 3.1428818%
Net Interest Cost (NIC)..................................................................................................................................................... 2.8488027%
True Interest Cost (TIC).................................................................................................................................................... 2.8026807%
Bond Yield for Arbitrage Purposes.................................................................................................................................... 2.6266275%
All Inclusive Cost (AIC)..................................................................................................................................................... 2.9167481%
IRS Form 8038
Net Interest Cost...............................................................................................................................................................2.6055675%
Weighted Average Maturity...............................................................................................................................................6.534 Years
Interest rates are estimates. Changes in rates may
cause significant alterations to this schedule.
The actual underwriter's discount bid may also vary.
2019A GO Imp & Utl Rev Bo | Sewer Improvements | 10/ 3/2018 | 4:26 PM
74
$1,650,000
City of Brooklyn Center, Minnesota
General Obligation Improvement and Utility Revenue Bonds, Series 2019A
Storm Drainage Improvements
DEBT SERVICE SCHEDULE
Date Principal Coupon Interest Total P+I 105% Levy
02/01/2020 --37,149.38 37,149.38 39,006.85
02/01/2021 145,000.00 2.550%49,532.50 194,532.50 204,259.13
02/01/2022 150,000.00 2.600%45,835.00 195,835.00 205,626.75
02/01/2023 155,000.00 2.700%41,935.00 196,935.00 206,781.75
02/01/2024 155,000.00 2.750%37,750.00 192,750.00 202,387.50
02/01/2025 160,000.00 2.850%33,487.50 193,487.50 203,161.88
02/01/2026 165,000.00 3.000%28,927.50 193,927.50 203,623.88
02/01/2027 170,000.00 3.150%23,977.50 193,977.50 203,676.38
02/01/2028 175,000.00 3.300%18,622.50 193,622.50 203,303.63
02/01/2029 185,000.00 3.350%12,847.50 197,847.50 207,739.88
02/01/2030 190,000.00 3.500%6,650.00 196,650.00 206,482.50
Total $1,650,000.00 -$336,714.38 $1,986,714.38 $2,086,050.10
SIGNIFICANT DATES
Dated................................................................................................................................................................................ 5/01/2019
Delivery Date.................................................................................................................................................................... 5/01/2019
First Coupon Date.............................................................................................................................................................2/01/2020
Yield Statistics
Bond Year Dollars.............................................................................................................................................................$10,712.50
Average Life..................................................................................................................................................................... 6.492 Years
Average Coupon............................................................................................................................................................... 3.1431914%
Net Interest Cost (NIC)..................................................................................................................................................... 2.8493487%
True Interest Cost (TIC).................................................................................................................................................... 2.8031881%
Bond Yield for Arbitrage Purposes.................................................................................................................................... 2.6266275%
All Inclusive Cost (AIC)..................................................................................................................................................... 2.9174184%
IRS Form 8038
Net Interest Cost...............................................................................................................................................................2.6058759%
Weighted Average Maturity...............................................................................................................................................6.526 Years
Interest rates are estimates. Changes in rates may
cause significant alterations to this schedule.
The actual underwriter's discount bid may also vary.
2019A GO Imp & Utl Rev Bo | Storm Drainage Improvemen | 10/ 3/2018 | 4:26 PM
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2
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A
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3
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2
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1
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2
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6
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2
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1
7
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2
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8
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1
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2
2
3
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3
$
13
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1
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8
$
44
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8
1
$
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$
40
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5
2
$
38
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7
$
24
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6
7
$
18
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8
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0
$
77
,
4
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8
$
-$ 897,712 $
20
1
9
2
2
1
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7
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4
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1
4
4
16
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86
,
0
0
0
61
2
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2
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8
37
7
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0
7
6
24
9
,
6
2
5
20
1
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6
0
0
28
6
,
0
4
8
90,583 1,204,932
20
2
0
2
1
7
,
7
1
0
13
7
,
9
2
0
16
1
,
4
4
4
24
5
,
0
8
3
76
2
,
1
5
7
37
0
,
1
6
5
24
7
,
4
2
7
20
3
,
1
5
0
27
9
,
3
9
3
258,142 1,358,277
20
2
1
2
0
9
,
9
4
2
13
6
,
6
7
0
15
9
,
4
0
2
23
9
,
0
5
6
74
5
,
0
7
1
35
6
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9
5
8
24
5
,
1
8
8
20
4
,
6
0
0
27
5
,
8
6
0
251,794 1,334,400
20
2
2
2
0
5
,
8
7
8
13
5
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3
9
9
15
9
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1
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9
23
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2
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1
73
5
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6
6
7
35
0
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0
4
7
24
2
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9
0
7
20
1
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0
0
0
27
5
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3
5
3
247,819 1,317,126
20
2
3
8
3
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2
0
4
13
4
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1
0
4
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6
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9
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3
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7
1
24
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5
8
3
20
2
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3
5
0
27
1
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5
3
5
241,086 1,097,025
20
2
4
8
0
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8
1
5
13
2
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6
3
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15
4
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6
4
2
22
7
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2
4
59
5
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2
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1
13
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4
1
0
23
7
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9
3
8
20
3
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6
0
0
26
7
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6
2
1
239,226 1,085,795
20
2
5
-
13
1
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9
6
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4
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1
2
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2
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1
7
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23
6
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7
5
3
19
9
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8
0
0
26
6
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7
3
4
234,481 937,767
20
2
6
-
12
9
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9
4
1
15
1
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7
0
3
21
7
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8
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0
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1
4
-
23
3
,
1
1
6
20
0
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9
5
0
26
2
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5
3
5
229,480 926,081
20
2
7
-
-
14
9
,
7
6
4
21
4
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8
7
5
36
4
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3
9
-
-
20
2
,
0
0
0
25
9
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1
8
0
226,325 687,505
20
2
8
-
-
14
8
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2
2
8
21
1
,
2
8
3
35
9
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5
1
1
-
-
-
2
5
6
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5
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2
222,542 479,064
20
2
9
-
-
-
20
7
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6
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8
20
7
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6
1
8
-
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6
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2
218,682
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1,
2
4
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9
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2,
3
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2,460,160 $ 11,544,366 $
Ta
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A
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$4
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3
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0
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4
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0
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$
6
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6
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Total
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Total Tax G overnmental
20
0
8
A
2
0
1
3
A
2
0
1
5
B
2
0
1
6
B
2
0
1
6
C
Increment Bonds
12
8
,
3
1
3
$
4
2
9
,
3
8
8
$
1
,
7
3
6
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7
5
0
$
4
6
,
8
2
5
$
3
0
3
,
1
5
8
$
2
,
6
4
4
,
4
3
3
$ 3,949,997 $
-
4
7
5
,
4
6
3
1
,
7
6
7
,
2
5
0
4
6
,
8
2
5
3
0
7
,
6
5
8
2
,
5
9
7
,
1
9
6
4,414,335
-
4
7
5
,
5
6
3
1
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7
5
5
,
9
5
0
4
6
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2
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0
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,
0
0
8
2
,
5
8
5
,
3
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6
4,705,779
-
2
,
2
4
3
,
4
3
8
-
4
6
,
8
2
5
3
0
6
,
2
5
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2
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5
9
6
,
5
2
1
4,675,992
-
2
,
2
3
0
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6
6
9
-
4
6
,
8
2
5
30
5
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1
8
6
2,582,680 4,635,473
-
-
-
4
6
,
8
2
5
30
8
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5
0
8
355,333 2,055,458
-
-
-
3
7
3
,
5
2
5
-
3
7
3
,
5
2
5
2,054,531
-
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-
3
7
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,
8
7
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7
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1,818,359
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3
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0
1,795,295
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,
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3
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3
7
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3
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1,424,082
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3
6
8
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5
6
3
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3
6
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5
6
3
1,207,138
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3
6
9
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5
6
3
-
3
6
9
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5
6
3
795,863
-
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-
-
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12
8
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3
1
3
$
5,
8
5
4
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0
$
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7
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6
$
15,586,671 $ 33,532,302 $
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