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CITY OF SHOREWOOD
ECONOMIC DEVELOPMENT AUTHORITY MEETING
MONDAY, JULY 25, 2005
AGENDA
5755 COUNTRY CLUB ROAD
COUNCIL CHAMBERS
Immediately Following
Regular Counell Meeting
1. CONVENE ECONOMIC DEVELOPMENT AUTHORITY MEETING
A. Roll Call
B. Review Agenda
2. APPROVAL OF MINUTES
A. EDA Minutes of March 14, 2005 (Art.- Minutes)
3.
CONSENT
A. Treasurer's Report (Art.- Treasurer's report)
President Love
Lizee
Turgeon _
Callies
Wellens
B. Approve Payment of Claims (Art. - Payment of Claims List)
4. NEW BUSINESS
A. Selection of Officers (Art.- Executive Director's memorandum)
5. OTHER BUSINESS
6. ADJOURN
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CITY OF SHOREWOOD
ECONOMIC DEVELOPMENT AUTHORITY MEETING
MONDAY, MARCH 14, 2005
5755 COUNTRY CLUB ROAD
COUNCIL CHAMBERS
8:00 PM or Immediately Following
Regular Council Meeting
MINUTES
1. CONVENE ECONOMIC DEVELOPMENT AUTHORITY MEETING
President Love called the meeting to order at 8: 17 P.M.
A.
Roll Call
Present:
President Love; Boardmembers Callies, Lizee, Turgeon, and Wellens; Executive Director
Dawson; Assistant Executive Director Nielsen, Assistant Treasurer Burton, and Assistant
General Counsel Mayeron.
Absent:
None
B.
Review Agenda
Without objection from the Board, President Love proceeded with the Agenda for the meeting.
2. APPROVAL OF MINUTES
A.
EDA Minutes of January 10, 2005
Wellens moved, Turgeon seconded, Approving the EDA Meeting Minutes of January 10, 2005, as
presented. Motion passed 5/0.
3. NEW BUSINESS
A. Approve Payment of Claims
Director Dawson provided an overview of the payment of claims presented for consideration.
Boardmember Turgeon requested a report on the budget for the Public Safety Facilities project.
Assistant Treasurer Burton explained the process of bond reimbursement, and noted a budget report
would be available within the next two weeks as requested.
Lizee moved, Callies seconded, Approving the Payment of Claims as presented. Motion passed 5/0.
4. OTHER BUSINESS
No other business was presented.
5. ADJOURN
Wellens moved, Turgeon seconded, Adjourning the Shorewood Economic Development Authority
Meeting of March 14, 2005, as presented. Motion passed 5/0.
#J-f1
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SHOREWOOD ECONOMIC DEVELOPMENT AUTHORITY
5755 Country Club Road
Shorewood, Minnesota 55331-8926
952.474.3236 FAX: 952.474.0128
MEMORANDUM
Date:
July 20, 2005
To:
EDA President and Commissioners
From:
Martin Wellens, Treasurer /J. ~ ~.
Bonnie Burton, Assistant Treasurer ~
Re:
Annual EDA Financial Statement and Treasurer's Report
The EDA By-Laws require that the Treasurer shall file the Authority's financial statement with the
secretary at least once per year. This memorandum and the City's annual audit report are intended to
provide compliance with that requirement.
The City's Comprehensive Annual Financial Report for the year ended 12/31/2004 reported that "The
Economic Development Authority (EDA) of the City was created pursuant to Minnesota statutes
469.090 through 469.108 to carry out economic and industrial development and redevelopment
consistent with policies established by the Council. It is comprised of the members of the City
Council and has a December 31 year end. The EDA activities are blended and reported in the debt
service and capital project funds. Separate financial statements are not issued for this component
urn 1."
The attached financial statements are excerpts from the 12/31/2004 Comprehensive Annual Financial
Report are provided for the convenience of the Commission.
-#3 A
. CITY OF SHOREWOOD, MINNESOTA
Economic Development Authority
BALANCE SHEET
December 31, 2004
EDA Public Safety EDA Debt Service
Facilities Proiect Fund Fund
ASSETS
Cash & Investments $ 517,809 $ 79,655
Lease Receivable 12,365,000
Due from other funds 10,000
TOTAL ASSETS $ 517,809 $ 12,454,655
LIABILITIES
Accounts & Contracts Payable $ 289,219 $
Due to other funds 10,000
Deferred Revenue 12,365,000
TOTAL LIABILITIES $ 289,219 $ 12,375,000
EQUITY (DEFICIT)
Fund Balance (deficit) 228,590 79,655
TOTAL LIABILITIES
AND FUND BALANCE $ 517,809 $ 12,454,655
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STATEMENT OF REVENUE & EXPENDITURES
December 31, 2004
REVENUE
Proceeds form Sale of Bonds $ $
Interest 7,620 169
Lease Payments 620,596
Miscellaneous 14,722
TOTAL REVENUE $ 22,342 $ 620,765
EXPENDITURES
General Govt
Public Safety $ 1,430,490 $
Debt Service 627,398
Capital Outlay
Transfer Out
TOTAL EXPENDITURES $ 1,430,490 $ 627,398
EXCESS (DEFICIENCY) OF
REVENUE OVER EXPENDITURES $ (1,408,148) $ (6,633)
FUND BALANCE, JANUARY 1 $ 1,636,738 $ 86,288
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FUND BALANCE, DECEMBER 31 $ 228,590 $ 79,655
aorewood Economic Development Authority
l!freck Approval Listfor 7/25/05 Meeting
Check # Vendor Name
Check Date Description
Amount
1170 KRAUS-ANDERSON CONSTR CO
1170 KRAUS-ANDERSON CONSTR CO
6/28/2005 W. FIRE - INTAKE LOUVER MODIFICATION
6/28/2005 W. POLICE -INTAKE LOUVER MODIFICATION
Check Total:
1171 MASTER MECHANICAL INC
1171 MASTER MECHANICAL INC
6/28/2005 W. FIRE -INTAKE LOUVER MODIFICATION
6/28/2005 W. POLICE - INTAKE LOUVER MODIFICATION
Check Total:
1172 WEATHER PROOF SYSTEMS
1172 WEATHER PROOF SYSTEMS
6/28/2005 W. FIRE - INTAKE LOUVER MODIFICATION
6/28/2005 W. POLICE - INTAKE LOUVER MODIFICATION
Check Total:
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
7/26/2005 E. FIRE - ALEX AIR APPARATUS #5832
7/26/2005 E. FIRE - GRAINGER #495-509220-2
7/26/2005 E. FIRE - LEE BERGLUND
7/26/2005 E. FIRE - METRO SYSTEMS #33103
7/26/2005 E. FIRE - PHOENIX TECHNOLOGY #0021
SUB-TOTAL - E. FIRE
7/26/2005 W. FIRE - ALEX AIR APPARATUS #5796
7/26/2005 W. FIRE - ALEX AIR APPARATUS SALES
7/26/2005 W. FIRE - ANTHONY FARINA
7/26/2005 W. FIRE - BDS LAUNDRY SYSTEMS #475
7/26/2005 W. FIRE - BDS LAUNDRY SYSTEMS #484
7/26/2005 W. FIRE - CITY OF SHOREWOOD UTI LIT
7/26/2005 W. FIRE - CONNECTIVITY SOLUTIONS #
7/26/2005 W. FIRE - CONNECTIVITY SOLUTIONS #
7/26/2005 W. FIRE - D&M ASSOCIATES #040416-2
7/26/2005 W. FIRE - EXCELSIOR ACE HOWE
7/26/2005 W. FIRE - GRAINGER #280-3594n-5
7/26/2005 W. FIRE - GRAINGER #495-076019-1
7/26/2005 W. FIRE - GRAINGER #495.307103.4
7/26/2005 W. FIRE - GRAINGER #495-667250-7
7/26/2005 W. FIRE - GRAINGER #495-786806-2
7/26/2005 W. FIRE - HILLYARD #MP1526569
7/26/2005 W. FIRE - HILLYARD #MP1528113
7/26/2005 W. FIRE - HILLYARD #MP1548989
7/26/2005 W. FIRE - HILLYARD #MP1548989-1
7/26/2005 W. FIRE - HILLYARD #MP1558284
7/26/2005 W. FIRE - KAYNIC SOLUTIONS #126
7/26/2005 W. FIRE - KNOX COMPANY #366,734
7/26/2005 W. FIRE. METRO SYSTEMS #32763
7/26/2005 W. FIRE - METRO SYSTEMS #33103
7/26/2005 W. FIRE - METRO SYSTEMS #33752
7/26/2005 W. FIRE - MSC #45568953
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1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
1175 EXCELSIOR FIRE DISTRICT
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Page 1 of 2
440.39
440.39
880.78
3,125.00
3,125.00
6,250.00
325.00
325.00
650.00
8,097.50
715.43
1,736.41
2,552.39
1,587.50
14,689.23
1,288.20
(74.10)
75.02
4,828.71
298.20
305.15
12,794.39
440.62
1,692.65
523.07
101.98
219.78
195.53
36.09
74.67
350.14
98.95
80.96
19.75
116.57
476.40
175.00
28,767.54
9,342.83
1 ,003.66
604.04
'#38
a>rewood Economic Development Authority
~eck Approval Listfor 7/25/05 Meeting
Check # Vendor Name Check Date Description Amount
1175 EXCELSIOR FIRE DISTRICT 7/26/2005 W. FIRE - ONE NET USA 3,249.93
1175 EXCELSIOR FIRE DISTRICT 7/26/2005 W. FIRE - PHOENIX TECHNOLOGY #0021 479.94
1175 EXCELSIOR FIRE DISTRICT 7/26/2005 W. FIRE - PHOENIX TECHNOLOGY #1427 5,112.09
1175 EXCELSIOR FIRE DISTRICT 7/26/2005 W. FIRE - SIGN SOURCE #31552 504.00
1175 EXCELSIOR FIRE DISTRICT 7/26/2005 W. FIRE - TWIN CITIES FLAG SOURCE 81.46
1175 EXCELSIOR FIRE DISTRICT 7/26/2005 W. FIRE - TWIN CITIES FLAG SOURCE 33.53
1175 EXCELSIOR FIRE DISTRICT 7/26/2005 W. FIRE - WASTE MGMT #0713806-1593 572.55
SUB-TOTAL - W. FIRE 73,869.30
Check Total: 88,558.53
1176 METRO FURNITURE SOLUTION 7/26/2005 W.POLlCE-FURNITURE 3,256.23
1176 METRO FURNITURE SOLUTION 7/26/2005 W.POLlCE - FURNITURE 5,867.02
Check Total: 9,123.25
1177 SO LK MTKA POLICE DEPT 7/26/2005 W. POLICE - STREICHERS (GUN LOCKERS) 609.18
1177 SO LK MTKA POLICE DEPT 7/26/2005 W. POLICE - BEST BUY (ELECTRONICS) 1,610.22
1177 SO LK MTKA POLICE DEPT 7/26/2005 W. POLICE - ADI (WALL MOUNTS-CAMERAS 496.34
. 11n SO LK MTKA POLICE DEPT 7/26/2005 W. POLICE - ATD-AMERICAN CO (DETENTI 232.35
11 n SO LK MTKA POLICE DEPT 7/26/2005 W. POLICE - CONNECTIVITY SOLUTIONS ( 270.62
1177 SO LK MTKA POLICE DEPT 7/26/2005 W. POLICE - OFFICE DEPOT (FOLDERS/LA 1,236.10
11n SO LK MTKA POLlCEDEPT 7/26/2005 W. POLICE - MN DEPT OF ADMIN (INSTAL 1,850.00
11n SO LK MTKA POLICE DEPT 7/26/2005 W. POLICE - BRAND NETWORKING (NETWOR 442.93
11 n SO LK MTKA POLICE DEPT 7/26/2005 W. POLICE - CONNECTIVITY SOLUTIONS ( 546.29
11n SO LK MTKA POLICE DEPT 7/26/2005 W. POLICE - WILKIE-SANDERSON (COAT R 330.00
1177 SO LK MTKA POLICE DEPT 7/26/2005 W. POLICE - SVC FIRE PROTECTION (CHR 300.00
1177 SO LK MTKA POLICE DEPT 7/26/2005 W. POLICE - SIGN SOURCE (ADDL BLDG S 669.11
Check Total: 8,593.14
1178 US BANK 7/26/2005 E. FIRE 2002C BOND INT P 49,526.25
1178 US BANK 7/26/2005 W.POLlCE 2002B BOND INT 96,6n .50
1178 US BANK 7/26/2005 W.FIRE 2002A BOND INT PM 92,823.75
1178 US BANK 7/26/2005 W.FIRE 2003A BOND INT PM 25,980.00
1178 US BANK 7/26/2005 W.POLlCE 2003B BOND INT 26,546.25
Check Total: 291,553.75
TOTAL CHECKS 405,609.45
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Page 2 of 2
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SHOREWOOD ECONOMIC DEVELOPMENT AUTHORITY
5755 Country Club Road
Shorewood, Minnesota 55331-8926
952.474.3236 FAX: 952.474.0128
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
EDA Board of Commissioners
Craig W. Dawson, Executive Director V'"
July 21, 2005 ~
Annual Meeting - Selection of Officers
The By-laws (Section 3.1) require that the Annual Meeting of the EDA occur on the fourth Monday
of July, and State statute requires than an EDA meet at least once per year. The Annual Meeting has
been scheduled to occur immediately following the City Council meeting on July 25.
The only business identified that must occur at the annual meeting is the selection of the Vice-
President and the Treasurer of the Board. The officers of the board are as follows:
. President - shall be the Mayor of the City of Shorewood. Woody Love currently serves in
this capacity.
. Vice-President - shall preside in the absence ofthe President and may exercise all powers and
perform all responsibilities of the President if the President cannot exercise or perform the
same due to absence or other inability. Laura Turgeon currently serves as Vice-President.
. President Pro Tern - when the President and Vice-President are absent or unable to be at any
meeting, the Board may appoint any remaining Commissioner as President Pro Tern to
preside at such meeting. Chris Lizee currently serves as President Pro Tern.
. Treasurer - The Treasurer shall receive and be responsible for Authority money, etc., shall
file the Authority's fmancial statement with its Secretary at least once a year as set by the
Authority, and be responsible for the acts of the Assistant Treasurer. Marty Wellens currently
serves as Treasurer.
. Assistant Treasurer - shall be the Director of Finance. Bonnie Burton is the Assistant
Treasurer.
. Secretary - shall be the City Administrator. Craig Dawson is the Secretary.
. Executive Director - shall be the City Administrator. Craig Dawson is the Executive
Director.
. Assistant Executive Director - shall be the Director of Planning. Brad Nielsen is the
Assistant Executive Director.
ACTION: The Board needs to select the Vice-President and Treasurer. It may also decide whether
to select a President Pro Tern.
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