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CITY OF SBOREWOOD
ECONOMIC DEVELOPMENT Al1TBOlUTYM'EETlNG
MONDAY, APRIL %6,2004
5755 cot1NTltY ~"":;
COUNCJL~',."."."',
8:00 PM or N~ ITtiI;lJIJ;_.ll~~"";< ". '
ReplarC"'M~.""'"" "
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AGENDA
1. CONVENE ECONOMIC DEVELOPM'.ENT A'VTBOJUTYMItE1'l!fG .
A. Roll Call
B. Review Apncla
2. APPROVAL OF MINt.1TES
A. EDA Minutes of March 22, 2004 (Att.- Minutes)
3. NEW BUSINESS
A. Approve Payment of Claims (Att.- Payment ofCI8ims)
4. 01'IID. BUSINESS
5. ADJOURN
SHOREWOOD ECONOMIC DEVELOPMENT AUTHORITY
5755 Country Club Road
Shorewood, Minnesota 55331-8926
952.474.3236 FAX: 952.474.0128
MEMORANDUM
FROM:
DATE:
Shorewood EDA Commissioners
Excelsior Fire District Board
South Lake Minnetonka Police Department Coordinating Committee
Craig W. Dawson, Executive Director Ill"\
April 12, 2004 CI..V
TO:
Attached are the most summarized versions of the budget monitoring worksheets for the public safety
facilities project. The worksheets are just that - a management tool, not an accounting document.
These figures reflect invoices received and projections made through April 8. As you are aware, each
building is being tracked separately per terms of the various agreements and bond issues.
Approximately $92,000 in additional cost from Kraus-Anderson Construction Company for "general
conditions" by Kraus-Anderson Construction Company is being incurred. These costs result in part
due to services provided being above original estimates for the West facility, and in part due to
economies in services not being realized as the East facility could not be completed by the end of
2003.
The SLMPD Coordinating Committee has endorsed the concept that the additional costs for general
conditions due to the EFD's late timing to start the East station construction (estimated to be $60,000)
should be borne from the bond proceeds for that facility. The EFD Board has stated its belief that
costs for general conditions should be paid where the services were rendered. Consequently, two
versions of costs for the facilities are being tracked. "Draft A" follows the preference of the EFD
Board, and "Draft B" follows the preference ofthe SLMPD Coordinating Committee. The EDA's
bond counsel has given an opinion that the assignment of costs to the East station is permissible,
provided that the EFD Board agrees.
The key criterion in budget management is that the contingencies for SLMPD and EFD on the West
facility, and the EFD on the East facility, do not fall below zero.
Draft A: The figures reflect the full $92,000 in additional general conditions on the West facility,
and an estimated $41,000 increase in general conditions on the East facility. In this scenario, there
are some small deficits projected on the West facility for both EFD (-$3,900) and SLMPD (-$1,800).
On the plus side, there are two major items for which funds have not been committed: $30,000 for
the warning flashers for exiting emergency vehicles, and $12,000 for audio/visual equipment for the
training room/emergency operations center. Additionally, I am working with the chiefs to clarify
whether there may be some inadvertent double-counting on furnishings for the building (approx.
$10,000). On the minus side, expenses for EDA staff services throughout the project have not been
drawn against the proceeds for either facility.
Under this scenario, the EFD and SLMPD will need to decide whether to proceed with the warning
flashers or AN equipment. Any expenses beyond the bond proceeds will need to be paid by the EFD
and/or SLMPD.
In Draft A, the projected remaining contingency for the East facility is nearly $180,000.
Summary of Budget Monitoring Worksheets
Public Safety Facilities
April 12,2004
Page 2
Draft B: The figures reflect approximately $32,000 in additional general conditions costs incurred
on the West facility, and an assignment of $60,000 in these additional costs due to scheduling delays
on the East facility. In this scenario, there are apparently sufficient contingencies left from each of
the three series of bond proceeds. On the West facility, the projected contingencies are
approximately $25,000 for EFD and $26,000 for SLMPD. On the East facility, the projected
contingency is $71,000.
Again, the budget monitoring worksheets are being used for project management-i.e., to make as
good a calculation as possible regarding the remaining funds available for all purposes-and are not
intended to be construed as accounting documents.
The issue regarding the assignment (and recalculation), if any, of additional costs for general
conditions to the East facility bond proceeds, due to the later start of construction of the East fire
station, remains one with real consequences. Ifno assignment occurs of all or a portion of what has
been illustrated thus far, both of the governing boards ultimately will need to decide whether to
complete the facilities as originally planned and use their organizations' own funds to do so. Based
on current projections, all facilities can be completed as originally planned if permissible costs can be
assigned to the East facility.
One reminder regarding the EDA: its only available revenues are those from the bond proceeds for
these facilities. It cannot incur additional costs for this project.
c: Bonnie Burton, EDA Assistant Treasurer
Tim Keane, EDA General Counsel
PublIc Saftty Buildings Proltcl- Budget Monitoring Workshttl
AprtI2, 2004, Draft A
Shortwood Economic Development AuIhorIIy
Budget
$Ltfl
ConstrucUon COlt Arch/Eng/Rtlmb Contingency 0 4% Land Interest Earnings Bond Issuance EDAlAdmln FFE Tolal
B,015,OOO 786,000 320,000 580.000 (84,000) 313,000 75.000 300,000 10,305,000
8,337,684 (Incl. $119,295 ..lImtte for _s syslemS 793,000 (5,699) 608,638 (49,516) 283,000 100.000 239.884 10,305,000
EFD SLMPD EFD SLMPD EFD SlMPD EFD SLMPD EFD SLMPD EFD SlMPD EFD SLMPD EFD SLMPD EFD SlMPD
3.952,000 4,063,000 385,140 400.860 156,800 163,200 290.000 290,000 (41,160) (42,ll4O) 153,370 159,630 37,000 38,000 125,000 175,000 5,060,000 5,245,000
4,087,915 4.249,779 388,570 404,430 (3,867) (1,631) 303,318 303,318 (22,955) (28,581) 137,812 145,186 49,000 51,000 120,207 119,678 5,060,000 5,245,000
806,637
(1)
789,6n
3,328
I ArohIEngr Total 386,939 402,733
$ltft 1631 1697
282,107
893
93,858
8,142
Bid Peck 1 Bid Peck 2
1,707,733 6.490,847
0 139,314
8,337,894
139.314
(5,699)
I~sed 180.687 '~~,~:
$LaftContlnn. 13,8671
1$ Laft FFE 22,500
Ir.T~1 (49,518)
Total (8,513) (10,361)
$Laft 1_ 0
10,305,000
8,198,380 789,6n 325,699 608,637 (49,518) 282,107 93,858 217,384 10,138,521
138.314 3.328 (5,689) (1) . 893 6,142 22,500 166,479
4.087,915 4.249,779 368,570 404,430 (3,887) (1,831) 303,318 303.318 (22,955) (26,561) 137.812 145,188 49,000 51,000 5,060,000 5,245.000
76,323 t2,ll1 1,631 1,697 (3,187) 11,831) (0) (0) 0 438 458 11,765) 7,907 22,500 '1 95,259 71,139
Consbuc\ion I ArchIEnorlRtimb Conllnoencvfll4% Land In....esl Issuance EDAlAdmIn FFE Total
WtslSIdtSttllon
Estimales
0rIgln8I
-
OrIgInal
Revised
LandT~1
RtmtInIn9 Budgel
ArchIEng CoolS Incurred
RtmtIning Budget
Issuance Total
Budget RlmtlnlnO
EDAlAdmln Total
RtmaInIng Budget
Consltuction Costs Incurred
RtmaInIng Budget
TOIai ConsbucIlon Budget BPl&2
RtmaInIng Budget BPI&2
ConIlnlltnCY Remtinlng
FFE Incurred
--
$Incurred
RImming Budget
EFD Esst Sladon
Eallmales
OrIgInal
Revlatd
Construction Cost Arch/EnaI_ Contingtncy 0 4% Land 1_ Earnlnos Bond lesuance EDAlAdrnln FFE Tolal
1,800,000 135 000 60,000 135,000 6,000\ 66,000 20,000 50 000 2,060,000
1,495,802 135,000 179,538 138,758 (15,865) 56.967 20,000 50,000 2,080.000
868,248 107,624 (119,536) 138,758 (15,865) 56,967 2.571 1,158,303
629,354 27,376 179,538 13,758) 9,865 9,033 17,429 50,000 903,607
104,398 to conUngtnCy COO'.................% to conllngtncy 10 conIIngtncy 10 contingency
Cons\tuCIIon Ard1IEnor/Relmb Land In_ Issuance EDAlAdmln FFE Total
$Incurred
RtmaInIng Budget
EFD East SlalIon
PublIc Safaty Buildings Project - Budget Monitoring Workahaet
AprIl 2, 2004, Draft B
Shol1lWllOd Economic Development Authorl\y
Budget
$ Ltfl
Construction Cot! Arch/Eng/RtImb Contlngsncy Cll4% Land Int....st Earnings Bond Issuance EDAlAdmin FFE Total
8,015,000 786,000 320,000 580,000 (84,000) 313,000 75,000 300,000 10,305,000
8,277,894 (incl. $119,295) estimate for owner's .yo.... 796,000 51.301 608,636 (49.518) 283,000 100,000 239,884 10,305,000
EFD SLMPD EFD SLMPD EFD SLMPD EFD SLMPD EFD SLMPD EFD SLMPD EFD SLMPD EFD SLMPD EFD SLMPD
3,952,000 4,1)63.000 385,140 400,860 156,800 163,200 290,000 290,000 (41,180) (42,840) 153.370 159,630 37,000 38,000 125,000 175,000 5,060,000 5.245,000
4.057,915 4,219,779 390,040 405,860 24,663 28,639 303.318 303.318 (22,955) (28,561 ) 137,812 145,188 49,000 51,000 120,207 119,878 5,050,000 5,245,000
808,637
(1)
789,702
8,298
I ArchlEngr Total 386,_ 402,748
$left 3088 3,212
282,107
893
93,858
8,142
Bid Pack t Bid Pack 2
,\707,733 6,490,727
0 79,234
8,2n ,_
79,234
51,301
If''ntinQUSed 132,137 138,561
$LellConlina 24 663 28,639
$ Left FFE 22,500 0
!fro). Total (49,516)
Total (8.513) (10,381)
$Leftlnterest 0
10,305,000
8,198,460 789,702 288,699 808,637 (49,518) 282,107 93,858 217,384 10,138.632
79,234 8,298 51,301 (I) . 883 6,142 22,500 168,388
4.057,915 4,219.779 390,040 405.860 24,663 26,639 303.318 303.318 (22,955) (28,581 ) 137,812 145,188 49,000 51,000 239,884 0 5,060,000 5,245,000
48,323 32,911 3,068 3,212 24,663 28,639 (0) (D) . " 438 456 f\,785} 7,907 22,500 " 95,244 71,124
Consbuctlon ArchlEnarIRelmb Co1lllnaenc:Wll4% Land Interest Issuance EDAlAdmln FFE Total
West SIds Station
EstimateS
Origlnal
Revlaed
OrIgInal
RevIsed
Land Total
Remaining Budget
ArchlEng Cools Incurred
RemaInln9 Budget
Issuance Total
Budget RemaIning
EDAlAdmln Total
Remaining Budget
Construc1lon Costs Incurred
RemaInln9 Budget
Total Construc1lon Budget BP1&2
Remaining Budget BP1&2
Contingency Remaining
FFE Incurred
Interest Eemed
S Incurred
Remaining Budget
EFD Easl.Statlon
Estimates
0tIgInaI
Revised
Construction Coot ArchlEng/Ralmb Contlngency@4% Land Inltnttl Earnings Bond Issuance EDAlAdmin FFE Total
1,800,000 135,000 80,000 135 000 6000 68 000 20 000 50,000 2,060,000
1,603,688 135.000 71,452 138,758 (15,865) 58,987 20,000 50,000 2,060,000
868,248 107,824 111,452) 138,758 (15,885) 56,967 2,584 . 1,156,318
737.440 27.376 71._ (3.758) 9,865 9,033 17,416 50,000 903.684
(3,886) to contingency ArchIEnnrIRelmb Continn-4% tocondngeocy Iocondngency to condngeocy
Con.truc1Ion Land Interest Issuance EDAlAdmln FFE Total
S Incurred
Remaining Budget
EFD Eesl Station
CITY OF SHOREWOOD 5755 COUNTRY CLUB ROAD
ECONOMIC DEVELOPMENT AUTHORITY MEETING Immediately Following Special
MONDAY, MARCH 22, 2004 City Council Meeting
MINUTES
1. CONVENE ECONOMIC DEVELOPMENT AUTHORITY MEETING
DRAfT. ,
President Love called the meeting to order at 9:24 P.M.
A.
Roll Call
Present:
President Love; Boardmembers Lizee, Turgeon, and Zerby; Executive Director Dawson;
Assistant Executive Director Nielsen, Assistant Treasurer Burton and Attorney Keane
Absent:
Boardmember Garfunkel
B.
Review Agenda
Without objection from the Board, President Love proceeded with the Agenda for the evening.
2. APPROVAL OF MINUTES
A. EDA Minutes of February 23, 2004
Lizee moved, Turgeon seconded, Approving the EDA Meeting Minutes of February 23, 2004, as
presented. Motion passed 4/0.
3. NEW BUSINESS
A. Approving the Payment of Claims
Zerby moved, Turgeon seconded, Approving the Payment of Claims as presented. Motion passed
4/0.
4. ADJOURN
Lizee moved, Garfunkel seconded, Adjourning the EDA Meeting of March 22,2004, at 9:25 P.M.
Motion passed 4/0.
RESPECTFULLY SUBMITTED,
Sally Keefe,
Recording Secretary
Woody Love, President
Craig W. Dawson, Executive Director
4F- ZA
Shorewood Economic Development Authority
Check Approval List for 4/26/04 Meeting
Check # Vendor Name Description Check Date Invoice #
1134
1134
1134
1135
1136
1136
1137
1138
1138
1139
1139
1140
1140
KRAUS-ANDERSON CON POLICE - PV #18 4/27/2004 4904-18
KRAUS-ANDERSON CON W.FIRE - PV #18 4/27/2004 4904-18A
KRAUS-ANDERSON CON E.FIRE - PV #6 4/27/2004 4926-6
TOTAL FOR KRAUS.ANDERSON CONSTR CO
METRO SYSTEMS POLICE - FURNISHINGS/ 4/27/2004
TOTAL FOR METRO SYSTEMS
MINNETONKA PLUMBIN POLICE - PV #18 4/27/2004 4904-18
MINNETONKA PLUMBIN W.FIRE - PV #18 4/27/2004 4904.18A
TOTAL FOR MINNETONKA PLUMBING
TSP ONE, INC. E.FIRE - MAR 2003 PROF 4/27/2004 8969
TOTAL FOR TSP ONE, INC.
WEATHER PROOF SYST POLICE - PV#18 4/27/2004 4904-18
WEATHER PROOF SYST W.FIRE - PV #18 4/27/2004 4904-18A
TOTAL FOR WEATHER PROOF SYSTEMS
WSB AND ASSOCIATES W.FIRE - FEB ENG SVCS 4/27/2004 01074-990
WSB AND ASSOCIATES POLICE - FEB ENG SVCS 4/27/2004 01074-990
TOTAL FOR WSB AND ASSOCIATES
XCEL ENERGY W.FIRE - FINAL ELECT 20 4/27/2004 1784-851-
XCEL ENERGY POLICE - FINAL ELECTRI 4/27/2004 1784-851-
TOTAL FOR XCELENERGY
TOTAL CHECKS
Amount
$78,624.77
$72,136.23
$243,942.00
$394,703.00
$113,242.49
$113,242.49
$15,733.74
$14,435.26
$30,169.00
$1,022.27
$1,022.27
$484.49
$444.51
$929.00
$1,340.62
$1,340.63
$2,681.25
$132.57
$132.57
$265.14
$543,012.15
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Thursday, April 22, 2004
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