AGENDA HANOVER ECONOMIC DEVELOPMENT AUTHORITY AUGUST 9, 2018

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1 AGENDA HANOVER ECONOMIC DEVELOPMENT AUTHORITY AUGUST 9, TODD BARTELS - CHAIR JESSICA JOHNSON TREASURER BRIAN DISMANG TED ZRUST TONY ROSS KEN WARPULA VICE CHAIR MARYANN HALLSTEIN HEIDI PEPER, EDA CONSULTANT 1. Call to Order: 8:00 a.m. 2. Approval of: a. Agenda b. Minutes of July 12, Regular Meeting c. Accounts Payable and Financial Reports 3. Citizen s Forum 4. Unfinished Business 5. New Business a. Low Interest Loan Request Astro Engineering b. Regular Meeting Date Change c Preliminary Draft 1 6. EDA Board and Staff Reports a. EDA Board Reports b. Staff Reports 7. Adjournment

2 CITY OF HANOVER ECONOMIC DEVELOPMENT AUTHORITY MEETING JULY 12, DRAFT MINUTES Call to Order Chair Bartels called the regular EDA meeting of July 12th, to order at 8:02 a.m. Present were Members Todd Bartels, Jessica Johnson, Brian Dismang, Tony Ross, Ken Warpula, and MaryAnn Hallstein. Also present was Accountant / Deputy Clerk Jackie Heinz. Guests present was Tyler Koivisto. Absent was Ted Zrust Approval of Agenda MOTION by Warpula to approve the agenda as presented, seconded by Johnson. Motion carried unanimously. Approval of Minutes from May 10, Regular Meeting MOTION by Warpula to approve minutes as presented, seconded by Dismang. Motion carried unanimously. Approval of Accounts Payable and Financial Reports MOTION by Warpula to approve the Accounts Payable and Financial Reports as presented, seconded by Dismang. Motion carried unanimously. Citizen s Forum Unfinished Business New Business Matching Grant Program Request Hanover Dental Heinz referenced the memo prepared by City Administrator Brian Hagen which was included in the packet. Option 1 is to deny the request, option 2 is to approve the request for amounts stated and option 3 is to approve a variation of the request. MOTION by Hallstein to approve the grant request for $5,491 and loan portion of $5,491, seconded by Johnson. Motion carried unanimously. Reports Hallstein informed at the recent joint Council / Park Board meeting, there was discussion about the City owned land in the Industrial park being turned into park land and the berm being moved back. Discussion continued around the history of the lot and surrounding lots. Ross stated his company is looking for a low interest loan through the EDA and what would be an appropriate amount to aske for. Johnson stated the cap is $100,000 for up to 7 years. Adjournment MOTION by Warpula to adjourn at 8:33 a.m., seconded by Johnson. Motion carried unanimously. ATTEST: Jackie Heinz, Accountant / Deputy Clerk

3 HANOVER Cash Balances July 08/07/18 3:28 PM Page 1 Fund Begin Month GL Debits Month GL Credits Month Balance 100 GENERAL FUND $468, $260, $144, $584, FIRE DEPT DONATIONS FUND $21, $0.00 $0.00 $21, EDA SPECIAL REVENUE FUND $75, $7, $4, $78, EDA BUSINESS INCENTIVE FUND $250, $ $0.00 $251, A GO CIP REFUNDING BOND $65, $0.00 $3, $62, A GO IMP REFUNDING BOND $8, $0.00 $0.00 $8, GO EQUIPMENT CERTIFICATES $0.00 $0.00 $0.00 $ A GO IMP CROSSOVER REF BD $519, $0.00 $0.00 $519, A GO CIP BOND $58, $0.00 $20, $37, GENERAL CAPITAL PROJECTS $1,289, $ $0.00 $1,290, PARKS CAPITAL PROJECTS $124, $ $ $124, FIRE DEPT CAPITAL FUND $271, $0.00 $0.00 $271, HISTORICAL CAPITAL PROJ FUND $0.00 $0.00 $0.00 $ PARK DEDICATION FEE $2, $0.00 $0.00 $2, GAMBLING PROCEEDS $0.00 $1, $0.00 $1, TIF REDEV DIST #1 $13, $0.00 $0.00 $13, MAHLER PIT - 15TH ST IMP FUND $77, $1, $0.00 $78, FACILITIES CAPITAL PROJ FUND -$437, $0.00 $0.00 -$437, EQUIPMENT CAPITAL FUND $122, $0.00 $0.00 $122, STREET CAPITAL PROJ FUND $767, $0.00 $326, $440, WATER ENTERPRISE FUND $862, $11, $3, $871, SEWER ENTERPRISE FUND $414, $30, $108, $337, STORM WATER ENTERPRISE FUND $125, $3, $ $128, WATER CAPITAL IMP FUND $167, $0.00 $0.00 $167, SEWER CAPITAL IMP FUND $1,945, $0.00 $0.00 $1,945, STORM WATER CAPITAL IMP FUND $605, $0.00 $0.00 $605, RIVER ROAD CEMETERY $35, $0.00 $0.00 $35, SCHENDELS FIELD ESC FUND $0.00 $0.00 $0.00 $ BRIDGES AT HANOVER ESC FUND $0.00 $0.00 $0.00 $ EROSION CONTROL ESCROW FUND $38, $2, $0.00 $40, LANDSCAPE ESCROW FUND $34, $2, $0.00 $36, INFRASTRUCTURE ESCROW FUND $21, $1, $0.00 $22, MISC ESCROWS FUND $11, $10, $2, $19, BRIDGES TOWNHOMES ESC FUND $3, $0.00 $0.00 $3, QUAIL PASS 2ND ADD ESCROW FD $0.00 $0.00 $0.00 $ CROW RVR HTS WEST 3RD / BACKES $ $0.00 $1, $1, CROW RVR HTS WEST 3RD PH2 EAW $6, $0.00 $0.00 $6, CROW RVR HTS FUT WEST PLAT/PUD $36, $0.00 $1, $34, CROW RVR HTS 4TH ADD FINL PLAT $2, $0.00 $ $2, HANOVER COVE PRELIMINARY PLAT $0.00 $60, $0.00 $60, INTEREST $0.00 $0.00 $0.00 $0.00

4 HANOVER Cash Balances July 08/07/18 3:28 PM Page 2 Fund Begin Month GL Debits Month GL Credits Month Balance $8,010, $393, $616, $7,788,325.25

5 HANOVER Revenue by Source - EDA 08/07/18 3:29 PM Page 1 Source Alt Code Account Descr July Amt YTD Amt YTD YTD Variance %YTD Fund 201 EDA SPECIAL REVENUE FUND TAXES R Property Taxes - General $7, $26, $49, $22, % TAXES R Tax Abatement $0.00 $0.00 $0.00 $ % Source Alt Code TAXES $7, $26, $49, $22, % MISC R Miscellaneous Revenues $0.00 $ $0.00 -$ % MISC R Interest Earnings $0.00 $ $ $ % MISC R Investment Income/Loss $0.00 -$ $ $1, % Source Alt Code MISC $0.00 $ $1, $ % INTGOVT R MV Credit $0.00 $0.00 $0.00 $ % Source Alt Code INTGOVT $0.00 $0.00 $0.00 $ % Fund 201 EDA SPECIAL REVENUE FUND Fund 205 EDA BUSINESS INCENTIVE FUND $7, $27, $50, $22, % MISC R Miscellaneous Revenues $0.00 $0.00 $0.00 $ % MISC R Interest Earnings $17.46 $2, $3, $ % MISC R Investment Income/Loss $0.00 -$2, $0.00 $2, % MISC R Contributions and Donations $0.00 $0.00 $0.00 $ % MISC R sfer from Other Fund $0.00 $0.00 $15, $15, % Source Alt Code MISC $17.46 $ $18, $17, % INTGOVT R State Grants and Aids $0.00 $0.00 $0.00 $ % Source Alt Code INTGOVT $0.00 $0.00 $0.00 $ % Fund 205 EDA BUSINESS INCENTIVE FUND $17.46 $ $18, $17, % $7, $27, $68, $40, %

6 HANOVER Expenditure Report - EDA 08/07/18 3:28 PM Page 1 Dept Abbrev Account Descr July Amt YTD Amt YTD YTD Balance %YTD Fund 201 EDA SPECIAL REVENUE FUND Dept Boards and Commissions BRDCOM E Committee Wages/Meetin $0.00 $0.00 $3, $3, % BRDCOM E Dues & Subscriptions $0.00 $ $1, $ % BRDCOM E Other Professional Service $2, $6, $25, $18, % BRDCOM E Other Miscellaneous $2, $6, $5, $1, % Dept Boards and Commissions Dept Purchasing $4, $13, $34, $20, % PURCHAS E Operating Supplies (GENE $0.00 $0.00 $1, $1, % Dept Purchasing Dept sfers Out $0.00 $0.00 $1, $1, % TRNSFER E sfers (GENERAL) $0.00 $0.00 $15, $15, % Dept sfers Out $0.00 $0.00 $15, $15, % Fund 201 EDA SPECIAL REVENUE FUND $4, $13, $50, $36, %

7 HANOVER Expenditure Report - EDA 08/07/18 3:28 PM Page 2 Dept Abbrev Account Descr July Amt YTD Amt YTD YTD Balance %YTD Fund 205 EDA BUSINESS INCENTIVE FUND Dept Economic Develop mt (GENERAL) ECODEVE E Refunds & Reimbursemen $0.00 $0.00 $0.00 $ % Dept Economic Develop mt (GENERAL) Dept Other Finanacing Uses $0.00 $0.00 $0.00 $ % OTHFINU E EDA BIF: Rent Reimburse $0.00 $0.00 $0.00 $ % OTHFINU E EDA BIF: Matching Grant $0.00 $0.00 $0.00 $ % OTHFINU E EDA BIF: EDA Loan $0.00 $0.00 $0.00 $ % Dept Other Finanacing Uses $0.00 $0.00 $0.00 $ % Fund 205 EDA BUSINESS INCENTIVE FUND $0.00 $0.00 $0.00 $ %

8 HANOVER Expenditure Report - EDA 08/07/18 3:28 PM Page 3 Dept Abbrev Account Descr July Amt YTD Amt YTD YTD Balance %YTD $4, $13, $50, $36, %

9 HANOVER saction Activity - EDA 08/07/18 3:30 PM Page 1 Period Name Refer Check Name Search Name Invoice Amount Comments Check/Receipt Date Fund Act Year PL Type G General Ledger Account Descr G Cash January Journal Entry -$7, To Reverse 2017 YE JE # 201 March Journal Entry -$ Allocate 1st Quarter 201 June Journal Entry $ Allocate 2nd Quarter 201 Account Descr G Cash -$7, Account Descr G Taxes Receivable-Current January Journal Entry -$ To Reverse 2017 YE JE # 201 Account Descr G Taxes Receivable-Current -$ Account Descr G Accounts Payable January Journal Entry $7, To Reverse 2017 YE JE # 201 Account Descr G Accounts Payable $7, Account Descr G Cash January Journal Entry -$ To Reverse 2017 YE JE # 205 March Journal Entry -$ Allocate 1st Quarter 205 June Journal Entry $ Allocate 2nd Quarter 205 Account Descr G Cash -$ Account Descr G EDA Loan Receivable January Cash Receipt CP PROPERTIES GROUP LLC $ EDA Loan Principal Payme 01/26/ January Cash Receipt PLUG TECHNOLOGIES, INC $ EDA Loan Principal Payme 01/04/ February Cash Receipt PLUG TECHNOLOGIES, INC $ EDA Loan Principal Payme 02/06/ March Cash Receipt CP PROPERTIES GROUP LLC $ EDA Loan Principal Payme 02/27/ March Cash Receipt CP PROPERTIES GROUP LLC $ EDA Loan Principal Payme 03/27/ March Cash Receipt MARIS EHLERS PHOTOGRAPY $ EDA Loan Principal Payme 03/12/ March Cash Receipt PLUG TECHNOLOGIES, INC $ EDA Loan Principal Payme 03/06/ April Cash Receipt PLUG TECHNOLOGIES, INC $ EDA Loan Principal Payme 04/04/ May Cash Receipt CP PROPERTIES GROUP LLC $ EDA Loan Principal Payme 04/26/ May Cash Receipt PLUG TECHNOLOGIES, INC $ EDA Loan Principal Payme 05/04/ June Cash Receipt CP PROPERTIES GROUP LLC $ EDA Loan Principal Payme 06/26/ June Cash Receipt CP PROPERTIES GROUP LLC $ EDA Loan Principal Payme 05/29/ June Cash Receipt PLUG TECHNOLOGIES, INC $ EDA Loan Principal Payme 06/05/ July Cash Receipt CP PROPERTIES GROUP LLC $ EDA Loan Principal Payme 07/26/18 205

10 Period Name Refer Check Name Search Name Invoice Amount Comments 08/07/18 3:30 PM Page 2 Check/Receipt Date Fund July Cash Receipt PLUG TECHNOLOGIES, INC $ EDA Loan Principal Payme 07/05/ Account Descr G EDA Loan Receivable Account Descr G Accounts Payable $4, January Journal Entry $ To Reverse 2017 YE JE # 205 Account Descr G Accounts Payable $ PL Type G General Ledger $4, PL Type *R Revenue Account Descr R Property Taxes - General January Journal Entry $ To Reverse 2017 YE JE # 201 January Journal Entry $ To Reverse 2017 YE JE # 201 January Cash Receipt HENNEPIN COUNTY TREASURER $ HC Tax Settlement - Janu 201 January Cash Receipt WRIGHT COUNTY AUDITOR-TREAS $ WC Tax Settlement - Janu 201 June Cash Receipt WRIGHT COUNTY AUDITOR-TREAS $19, WC Tax Settlement - June 06/21/ July Cash Receipt HENNEPIN COUNTY TREASURER $7, HC Tax Settlement - July 201 Account Descr R Property Taxes - General $26, Account Descr R Miscellaneous Revenues March Cash Receipt MELCHERT, HUBERT, SJODIN, PLLP $ Cummings Lot Adjustment 03/06/ Account Descr R Miscellaneous Revenues $ Account Descr R Interest Earnings March Journal Entry -$ Allocate 1st Quarter 201 June Journal Entry -$ Allocate 2nd Quarter 201 Account Descr R Interest Earnings -$ Account Descr R Investment Income/Loss March Journal Entry $ Allocate 1st Quarter 201 June Journal Entry $ Allocate 2nd Quarter 201 Account Descr R Investment Income/Loss $ Account Descr R Interest Earnings January Cash Receipt CP PROPERTIES GROUP LLC $3.65 EDA Loan Interest Payme 01/26/ January Cash Receipt PLUG TECHNOLOGIES, INC $20.46 EDA Loan Interest Payme 01/04/ February Cash Receipt PLUG TECHNOLOGIES, INC $21.72 EDA Loan Interest Payme 02/06/ March Journal Entry -$ Allocate 1st Quarter 205 March Cash Receipt CP PROPERTIES GROUP LLC $3.57 EDA Loan Interest Payme 02/27/ March Cash Receipt CP PROPERTIES GROUP LLC $2.84 EDA Loan Interest Payme 03/27/ March Cash Receipt MARIS EHLERS PHOTOGRAPY $1.77 EDA Loan Interest Payme 03/12/18 205

11 Period Name Refer Check Name Search Name Invoice Amount Comments 08/07/18 3:30 PM Page 3 Check/Receipt Date Fund March Cash Receipt PLUG TECHNOLOGIES, INC $17.77 EDA Loan Interest Payme 03/06/ April Cash Receipt PLUG TECHNOLOGIES, INC $17.70 EDA Loan Interest Payme 04/04/ May Cash Receipt CP PROPERTIES GROUP LLC $2.74 EDA Loan Interest Payme 04/26/ May Cash Receipt PLUG TECHNOLOGIES, INC $17.60 EDA Loan Interest Payme 05/04/ June Journal Entry -$1, Allocate 2nd Quarter 205 June Cash Receipt CP PROPERTIES GROUP LLC $2.44 EDA Loan Interest Payme 05/29/ June Cash Receipt CP PROPERTIES GROUP LLC $2.21 EDA Loan Interest Payme 06/26/ June Cash Receipt PLUG TECHNOLOGIES, INC $18.00 EDA Loan Interest Payme 06/05/ July Cash Receipt CP PROPERTIES GROUP LLC $1.84 EDA Loan Interest Payme 07/26/ July Cash Receipt PLUG TECHNOLOGIES, INC $15.62 EDA Loan Interest Payme 07/05/ Account Descr R Interest Earnings Account Descr R Investment Income/Loss -$1, March Journal Entry $1, Allocate 1st Quarter 205 June Journal Entry $ Allocate 2nd Quarter 205 Account Descr R Investment Income/Loss $2, PL Type *R Revenue $27, PL Type -E Expenditure Account Descr E Dues & Subscriptions April Cash Payment INITIATIVE FOUNDATION 9978 $ Endowment Pledge /17/ Account Descr E Dues & Subscriptions $ Account Descr E Other Professional Services April Cash Payment ROBERT J. HIIVALA $ River Road NE: Pro 04/17/ May Cash Receipt JOINT POWERS WATER BOARD $23.58 Refund of Fees since Hou 04/23/ May Cash Payment WSB & ASSOCIATES, INC $ Downtown Parking Lot: M 05/15/ June Cash Payment S E H $ EDA Services - April 06/05/ June Cash Payment WSB & ASSOCIATES, INC $2, Downtown Parking Lot: A 06/05/ July Cash Payment WSB & ASSOCIATES, INC $2, Downtown Parking Lot: M 07/17/ Account Descr E Other Professional Services $6, Account Descr E Other Miscellaneous February Cash Payment VISA - BANKWEST $75.01 EDA Property: Asbestos R 02/06/ February Cash Payment WEX BANK - PW $ Trac Hoe for EDA House 02/06/ March Cash Payment HANOVER HISTORICAL SOCIETY $ Donation from EDA 03/06/ April Cash Payment VISA - BANKWEST LP $19.95 EDA Website Domain 04/03/ May Cash Payment HANOVER HARVEST FESTIVAL $1, Hanover Harvest Festival 05/15/ May Cash Payment RAMBOW $1, EDA Social - Yeti 20 05/01/18 201

12 Period Name Refer Check Name Search Name Invoice Amount Comments 08/07/18 3:30 PM Page 4 Check/Receipt Date Fund May Cash Payment RIVER INN $ EDA Social : 30 Gue 05/15/ July Cash Payment LEROY SIGNS $2, BankWest: Fabricate & In 07/03/ Account Descr E Other Miscellaneous $6, PL Type -E Expenditure Act Year $13, $45, $45,556.78

13 Borrower 7/31/ Paid Through CP Properties $ July Maris Ehlers Photography $ - Paid In Full Plug Technologies, Inc. $ 9, July $ - Total $ 10,179.56

14 Account Description Hanover Economic Development Authority Special Revenue Fund Acutal Revenue Accounts PROPERTY TAXES 45,296 43,767 49,867 49,383 49,306 19,410 49,000 49, TAX ABATEMENT 4,022 4, , MISCELLANEOUS REVENUES INTEREST EARNINGS , INVESTMENT INCOME/LOSS 0 1,074 (65) 833 (403) (529) MV CREDIT % of 2019 % Change Comments Total Revenue 49,970 48,989 50,687 52,401 50,168 19,917 50,000 40% 49,000-2% Expenditure Accounts COMMITTEE WAGES/MEETINGS 1,860 2,010 1,620 1,410 1, ,000 2, DUES & SUBSCRIPTIONS 250 1, , OTHER PROFESSIONAL SERVICES 19,111 23,850 10,840 7,766 7,564 4,447 25,000 10, OTHER MISCELLANEOUS 2,000 4,537 4,562 4, ,480 4,214 5,000 5,500 Bus. Social, HHF Donation, No More Web Costs PURCH: SUPPLIES ,000 1, TRANSFERS: BUSINESS INCENTIVE 15,000 15,000 15, ,000 30,000 Total Expenditures 38,721 46,595 32,508 14, ,064 8,972 50,000 18% 49,000-2% Total Revenue Over Expenditures 3,031 6,261 18,178 38,305 (71,896) 10,

15 Account Description Hanover Economic Development Authority Business Incentive Fund Revenue Accounts STATE GRANTS & AIDS 120,115 43,911 28, MISC REVENUES INTEREST EARNINGS 2,950 1,693 2,968 3,706 3,536 2,166 3, INVESTMENT INCOME/LOSS 0 1,733 (79) 107 (1,212) (2,018) 1, CONTRIBUTIONS & DONATIONS TRANSFERS FROM OTHER FUNDS 15,000 15,000 15, ,000 16,000 % of 2019 % Change Comments Total Revenue 138,065 62,437 45,905 3,813 2, ,000 1% 16,000-16% Expenditure Accounts EDA: RENT REIMBURSEMENT 4, ,485 4, Rent Reimbursement Program EDA BIF: MATCHING GRANT 143,616 22,367 28,017 1,500 2, Matching Grant Program (loan & grant proceeds) EDA: LOANS Low Interest Loan Program Total Expenditures 148,416 22,367 28,017 2,985 7, #DIV/0! 0 #DIV/0! Total Revenue Over Expenditures (10,351) 40,070 17, (4,810) ,000 16,000