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09. Community and Economic DevelopmentCOMMUNITY & ECONOMIC DEVELOPMENT page Fund # 1 2185 Tax Increment Fund -Airport $ 49,725 4 2188 Tax Increment Fund-Westside $ 2,261,198 8 2310 Old School Station Tech TIF $ 9,000 10 2311 Old School Station Industrial TIF $ 40,950 12 2880 Community Development Loan Revolving $ 225,000 14 2886 Community Development Fund $ 132,373 19 2887 Rural Development Revolving Fund $ 269,827 21 2888 Rural Development Revolving Fund #2 $ 95,930 22 2944 CDBG-ED #1 FVCC $ 81,518 23 2946 CDBG-ED #2 FVCC $ 273,945 24 2953 EPA -Brownfields Assessment Grant $ 396,152 25 2991 Neighborhood Stabilization $ 2,832,976 26 2882 Courtyard Maintenance $ 87,519 $ 6,756,113 Al"ORT TAX INCREMENT DISTRICT vv vv FUND: 2185-000-430300/470240/460430 PROJECTED REVENUE AND FUND SUMMARY BEGINNING CASH 10100 Cash Total Beginning Cash REVENUES 335230 State Entitlement 341013 Developer agreement-Rosauers (final year) 341015 Developer agreement -Hilton (done 2010) 383001 Transfer from Debt Service Total Revenue Total Available EXPENDITURES Personal Services M&O Redevelopment Activity Parks Capital Improvements Total Expenditures ENDING CASH Cash Carry Over ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 $75,211 $300,151 $300,151 $825,460 $75,211 $300,151 $300,151 $825,460 $5,153 $56,855 $37,411 $300,000 $5,152 $55,000 $35,000 $550,000 $5,153 $56,016 $45,921 $550,000 $5,152 $56,000 $0 $500,000 $399,419 $645,152 $657,090 $561,152 $474,630 $945,303 $957,241 $1,386,612 $40,623 $46,235 $34,493 $53,128 $57,444 $39,754 $800,000 $42,142 $50,587 $31,606 $0 $49,588 $19,576 $30,149 $0 $0 $174,479 $939,340 $131,781 $49,725 $300,151 $5,963 $825,460 $1,336,887 1 AIRPORT TAX INCIttlEMENT DISTRICT FUND: 2185-000-430300/470240/460430 ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 Personal Services $40,623 $57,444 $50,587 $19,576 Airport $66,649 $829,754 $31,606 $30,149 Parks $63,128 $52,142 $49,588 $0 Community Development $4,079 $0 $0 $0 $174,479 $939,340 $131,781 $49,725 Bonds sold in September 2005 required that all taxes be deposited in the debt service fund. The same will be true of any additional bonds sold for the redevelopment of the airport. Once debt service obligations are met, funds remaining can be transferred to this fund for use with other projects. Budget will be amended for any future projects. 2 AIRPORT TAX INCREMENT DISTRICT FUND: 2185-000-430300/470240/460430 EXPENDITURE DETAIL 480 470240 Personal Services: FTE's 110 Salaries 153 Health 155 Retirement Personal Services Total 000 430300 Airport 353 Auditing 356 Legal Survey/title search/appraisals/ contract services 522 Administrative transfer 840 Redevelopment activity Airport total 480 470240 Community Development 354 Community Center Community Development Total 436 460430 Parks 218 Laker's Ball field improvements 950 Relocate restrooms to Kidsport 934 Begg Park improvements Parks Total Total Airport TIF ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 0.41 0.66 0.66 0.30 $33,946 $49,113 $43,536 $16,590 $4,508 $5,143 $3,939 $1,909 $2,169 $3,188 $3,112 $1,077 $40,623 $57,444 $50,587 $19,576 $1,000 $1,200 $750 $1,200 $21,889 $15,000 $17,302 $15,000 $9,267 $13,554 $13,554 $13,949 $34,493 $800,000 $0 $0 $66,649 $829,754 $31,606 $30,149 $4,079 $0 $0 $0 $4,079 $0 $0 $0 $10,000 $10,000 $7,446 $0 $36,875 $0 $0 $0 $16,253 $42,142 $42,142 $0 $63,128 $52,142 $49,588 $0 $174,479 $939,340 $131,781 $49,725 9 WESTSIDE TAX INCREMENT DISTRICT :: PROJECTED BEGINNING CASH 10100 Operating Total Cash REVENUES 311100 Real Estate Taxes 311200 Personal Property Taxes 312000 Penalty & Interest 335230 HB 124 Entitlement 331158 US 93 Bypass reimbursement 341015 Developer payment-TELETECH 383001 Operating Transfer fi-om Debt Fund 3188 Total Revenue Total Available Redevelopment Activities US 93 Bypass construction Construction Total Expenditures ENDING CASH Operating ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 $1,573,348 $1,674,567 $1,674,567 $1,905,716 $1,573,348 $1,674,567 $1,674,567 $1,905,716 $29,126 $300,000 $14,000 $246 $182 $41,368 $91,483 $45,000 $350,000 $487,173 $487,172 $0 $350,000 $487,173 $608,027 $400,550 $1,923,348 $2,161,740 $2,282,594 $2,306266 $68,602 $1,565,750 $42,179 $2,136,198 $122,117 $180,179 $595,990 $212,582 $125,000 $248,781 $2,161,740 $376,878 $2261,198 $1,674,567 $0 $1,905,716 $45,068 4 WESTSIDE INCREMENT DISTRICT FUND: 2188 ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 Personal Services $34,011 $10,000 $7,707 $13,810 Redevelopment activity $34,591 $1,555,750 $34,472 $2,122,388 Capital Improvements $180,179 $595,990 $334,699 $125,000 $248,781 $2,161,740 $376,878 $2,261,198 The Westside Urban Renewal District was created to help redevelop the Gateway Mall area and assist with the Storm drainage problems in the area. The major activity to date has been the Stream Project which included the City's participation in the purchase of a portion of the Mall building and rehabilitation of the site. Stream vacated the site and the site is now occupied by the Teletech organization. Tax increment urban renewal bonds were paid offJune 30, 2010. Prior to that date all increment was receipted to a debt service fund. Beginning fiscal year 2011 increment will now be receipted to this fund, 2188. The district is scheduled to sunset 3/14/2012 FY 2010 BUDGET ACCOMPLISHMENTS Glenwood Drive Storm Drainage Construction project went out for bid in March 2009. Construction to begin in June 2009. April 2009 intiated the contract for the 3 Mile Drive Road Design within the Westside TIF. The Lower Spring Creek Storm Drainage preliminary design is substantially complete. Currently negotiating for an easement. Parks completed Greenbriar Park improvements including hard surface sports court. Glenwood Drive storm drainage June 30th 2010 balance carried over and added to the Lower Spring Creek project. 3 Mile Drive Road design project also carried over to FY2011. con't. 5 FUND: 2188 952 Lower Spring Creek Storm Drainage - $70,000 carryover (public works projects) This project has been included in the storm drainage plan for several years. It will relieve pressure on the existing portions of Meridian Road stonn facilities lying south of US 2 that are not being improved by the Meridian Road Project, which is north of US 2. The Lower Spring Creek Project will divert flow away from the over -taxed pipe in Meridian Road and will lead it south to the existing drainage south of Appleway Drive. 953 3 Mile Drive Engineering- $55,000 carryover Significant development along 3 Mile Drive over the past several years has greatly increased traffic on an inadequate roadway. This project is intended to improve 3 Mile Drive from the end of recent improvements done as part ofthe Meridian Road Project and will extend to the limits ofthe Westside Tax Increment District. Preliminary engineering is being done in-house to determine the actual scope ofthe project and to determine accurate construction and ROW costs. Improvements that are required that extend beyond the limits ofthe Westside TIF will require funding from alternate sources yet to be identified. 0 WESTSIDE TAX INCREMENT DISTRICT FUND: 2188 EXPENDITURE DETAIL. COMMUNITY DEVELOPMENT Personal Services FTE'S 480-470230 110 Salaries-Admin 153 Health 155 Retirement Total Personal Services 353 Audit -close out ofdebt service 354 Transfer to Port Authority-bldg maint. 356 Redevelopment/ contract services 522 Administrative Transfer 955 Redevelopment/Distribution Total Community Development PUBLIC WORKS 453430246 Construction Projects 950 Glenwood Drive Construction 951 Paving 952 Lower Spring Creek design carryover 953 3 Mile Drive Road Design carryover 955 Redevelopment/ US 93 bypass Total Public Works PARKS DEPARTMENT 436460430 Parks Department 930 Greenbriar Park improvements 934 Hawthorne Park Tennis Court resurface Total Parks TOTAL BUDGET ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 0.34 0.15 0.15 0.20 $28,119 $8,500 $6,596 $11,060 $4,093 $1,000 $682 $2,032 $1,799 $500 $429 $718 $34,011 $10,000 $7,707 $13,810 $500 $750 $375 $1,250 $5,000 $5,000 $5,350 $5,000 $0 $25,000 $3,747 $0 $29,091 $25,000 $25,000 $25,000 $1,500,000 $0 $2,091,138 $34,591 $1,555,750 $34,472 $2,122,388 $0 $135,000 $68,204 $0 $30,584 $30,000 $29,516 $0 $64,640 $40,000 $3,846 $70,000 $40,374 $146,926 $92,917 $55,000 $0 $225,884 $122,117 $0 $135,598 $577,810 $316,600 $125,000 $0 $18,180 $18,099 $0 $44,581 $0 $0 $0 $44,581 $18,180 $18,099 $0 $248,781 $2,161,740 $376,878 $2,261,198 7 2310 OLD SCHOOL STATION TIF-TECHNOLOGY ®® ®® FUND: 2310-480-470210 PROJECTED REVENUE AND FUND SUMMARY BEGINNING CASH Operating Cash -Redevelopment REVENUES 311110 Real Estate Property Taxes 311200 Personal Property Taxes 315000 Penalty & Interest Total Revenue Total Available EXPENDITURES Redevelopment activities Operating Transfer -debt service pledge Total Expenditures ENDING CASH 10100 Operating Cash -Redevelopment ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 $6,239 $23,421 $23,421 $8,624 $17,091 $42 $49 $27,000 $800 $15 $30,314 $1,847 $592 $32,000 $1,200 $500 $17,182 $27,815 $32,753 $33,700 $23,421 $51,236 $56,174 $42,324 $0 $0 $950 $46,600 $950 $46,600 $950 $40,000 $0 $47,550 $47,550 $40,950 $23,421 $3,686 $8,624 $1,374 K 0 OLD SCHOOL , , -"Glf 41,D: 2310-480-470210 COMMUNITY DEVELOPMENT ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 354 Contract Services- Bond Counsel $950 $950 $950 790 Redevelopment activity $0 $0 $0 $0 Total Community Development $0 $950 $950 $950 820 Operating transfer to SID debt Service $0 $46,600 $46,600 $40,000 $0 $46,600 $46,600 $40,000 TOTAL BUDGET $0 $47,550 $47,550 $40,950 PROGRAM DESCRIPTION The Technology TIF was created to enable the development of the Tech Park by using the taxes paid by the property owners to pay down the infrastructure SID debt. Additionally the tax revenue generated can be used for other redevelopment activities as provided by Montana law and the developer agreement. Funds transferred to the SID 344 Debt Service fund will be held and utilized only in the case of an approved developer's agreement. 0 11 OLD SCHOOL STATION TIF-INDUSTPJALM®° FUND: 2311-480-470210 V0 J ETZI-01 V, E I T1111KWAL, BEGINNING CASH 10100 Cash Operating -Redevelopment REVENUES 311100 Real Estate Taxes 311200 Penalty & Interest Total Revenue Total Available EXPENDITURES Operating transfer to SID debt Service -pledged Total Expenditures ENDING CASH 10100 Operating Cash -Redevelopment ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 $3,107 $6,737 $5,072 $7 $1,965 $0 $7,263 $0 $5,490 $277 $9,000 $275 $1,965 $7,263 $5,767 $9,275 $5,072 $14,000 $10,839 $9,282 $0 $14,000 $10,832 $9,000 $0 $14,000 $10,832 $9,000 $5,072 $0 $7 $282 10 1 _ " " FUND: 2311-480-470210 COMMUNITY DEVELOPMENT 790 Redevelopment activity Total Community Development 820 Operating transfer to SID debt Service -pledged ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 $0 $0 $0 $0 $0 $0 $0 $0 $0 $14,000 $10,832 $9,000 $0 $14,000 $10,832 $9,000 TOTAL BUDGET $0 $14,000 $10,832 $9,000 PROGRAM DESCRIPTION The Industrial TIF was created to enable the development of the Tech Park by using the taxes paid by the property owners to pay down the infrastructure SID debt. Additionally the tax revenue generated can be used for other redevelopment activities as provided by Montana law and the developer agreement. 11 COMMUNITY DEVELOPMENT -REVOLVING FUND FUND: 2880-480-470210 PROJECTED REVENUE AND FUND SUMMARY BEGINNING CASH 10100 Cash, Operating 10162 Cash, Reserve for investment (S&C) 10105 Cash, * Downtown revitalization REVENUES 345010 Origination Fees 373020 Loan Proceeds/Principal 373010 Loan Proceeds/ -Interest 373060 *Center Street loan (PAYOFF 2010) 373070 Loan to Street Dept. 3.25% interest rate 371010 Interest Earnings Total Revenue Total Available *Redevelopment Distribution Redevelopment Capital Improvements Total Expenditures ENDING CASH 10100 Cash, Operating 10162 Cash, Reserve for investment TOTAL CASH ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 $123,416 $130,623 $130,623 $185,858 $64,532 $68,939 $68,939 $68,939 $7,185 $195,133 $199,562 $199,562 $254,797 $500 $1,000 $34,362 $34,971 $30,610 $37,345 $23,189 $17,798 $15,327 $24,514 $4,995 $25,776 $25,776 $0 $18,462 $18,328 $17,430 $16,910 $8,101 $6,000 $6,379 $2,000 $89,109 $102,873 $96,022 $81,769 $284,242 $302,435 $295,584 $336,566 $12,180 $25,776 $25,776 $0 $57,500 $165,000 $15,011 $225,000 $15,000 $0 $0 $0 $84,680 $190,776 $40,787 $225,000 $130,623 $42,720 $185,858 $42,627 $68,939 $68,939 $68,939 $68,939 $199,562 $111,659 $254,797 $111,566 12 COMMUNITY DEVELOPMENT -REVOLVING FUND: 2880-480-470240 Redevelopment Activity 708 Redevelopment Distribution to County Total Distribution 711 Redevelopment Activity 720 Eagle Transit Total Redevelopment activity Capital Improvements 950 Capital Improvements Hwy 93 & Hwy 2 -Bronzes Total Capital Improvements ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 $12,180 $25,776 $25,776 $0 $42,500 $15,000 $150,000 $15,000 $11 $15,000 $225,000 $0 $57,500 $15,000 $165,000 $0 $15,011 $0 $225,000 $0 $15,000 $0 $0 $0 Total Budget $84,680 $190,776 $40,787 $225,000 PROGRAM DESCRIPTION This is a fund established in 2005 that consolidates "all' of the various loan types the Department has in existence or will be starting. Each type of loan activity has its own line item number and can be easily identified for the audit or monitoring. FY 2011 BUDGET HIGHLIGHTS * Seeking to loan the funds to eligible entities -preference to organizations that serve low -to -moderate income beneficiaries. Continue to manage the current and new CDBG projects with administration duties as outlined by the City/State CDBG Management Contracts. Maintain and improve loan quality. '8 Expand the loan programs to serve a wider sector of businesses. FY 2010 BUDGET ACCOMPLISHMENTS Implemented loan checklist and organized files. '8 Created credit display and underwriting for new credit requests. Maintained credit quality without any losses to the portfolio. Increased marketing of Revolving Loan Fund program to local banks and businesses. 13 Community Development operations (old UDAG) 2886-480-470210 PROJECTED REVENUE AND FUND SUMMARY BEGINNING CASH 10100 CASH: operating 10161 Investment* REVENUES 373075 United Way -loan repayment & payoff 373070 Principal payments 371010 Interest/Misc. 373010 Interest from Loans 331170 Historic Preservation Grant 331019 CDBG grant Admin - Youth shelter 383000 Admin Transfer In from 2944 FVCC Grant 11324 Advance to Light District (loan repayment) Total Revenue Total Available Operating Budget Redevelopment/Grants* Total Expenditures ENDING CASH 10100 CASH: operating 10161 Investment* TOTAL CASH ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 $18,436 $143,500 $143,500 $423,428 $489,165 $389,165 $389,165 $0 $507,601 $532,665 $532,665 $423,428 $95,654 $6,263 $5,729 $6,022 $6,022 $6,330 $10,715 $10,000 $8,333 $5,000 $9,043 $9,014 $3,798 $3,490 $500 $11,000 $10,500 $0 $27,508 $0 $0 $0 $32,632 $3,468 $0 $0 $15,000 $14,000 $14,000 $0 $196,781 $59,767 $42,653 $14,820 $704,382 $592,432 $575,318 $438,248 $164,276 $189,160 $116,006 $129,873 $7,441 $39,500 $35,884 $2,500 $171,717 $228,660 $151,890 $132,373 $143,500 $363,772 $423,428 $305,875 $389,165 $0 $0 $0 $532,665 $363,772 $423,428 $305,875 14 Community Development o 1. FUND:::..: , ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 Personal Services $112,180 $113,462 $73,205 $65,969 Materials and Services $52,096 $75,698 $42,801 $63,904 Grants $7,441 $39,500 $35,884 $2,500 $171,717 $228,660 $151,890 $132,373 PROGRAM DESCRIPTION The eligible uses of program income include all of the activities currently funded by the UDAG program income budget and could include many other activities related to planning and implementing economic and community development programs. FY 2011 BUDGET HIGHLIGHTS Identify strategies to create jobs and investment in the Community; Partner w/ business and organizations to leverage funds from grants and loans; Oversee Neighborhood Stabilization Program grant; Encourage and promote historic preservation; Manage and administer CDBG grants, loans and the local revolving loan funds; Manage and administer EPA Brownfields Assessment Grant Improve the department's web based data; and Act as liaison to the Business Improvement District Board, Kalispell Downtown Association * and the Chamber of Commerce; Serve on new North West Montana Community Land Trust Board of Directors. 15 Community rr 1 1 1 (old FUND: 2886-480-470210 FY 2010 BUDGET ACCOMPLISHMENTS Assisted three out of area businesses with relocation opportunities; Managing the two revolving loan fund programs with ten existing loans; Managed and then conditional closeout of the Flathead Youth Home construction partially funded with a CDBG Public Facilities Grant by monitoring weekly payroll reviews and on -site monitoring ofthe construction; Managed the Flathead Valley Community College CDBG Funds for the purchase of CNC equipment and for supplementing training costs for an aggregate group of manufacturer's in the Valley; Submitted and Manage the Flathead Valley Community College CDBG Funds for the purchase ofNon-Destructive Testing welding equipment and curriculum for an aggregate group of companies in the Valley. Submitted Neighborhood Stabilization Program CDBG Grant with Community Action Partnership to purchase foreclosed and abandoned homes to place in a newly created Community Land Trust for workforce housing; Continued role of liaison with the Montana Department of Environmental Quality as it relates to the Kalispell Pole Yard; Managing a State Historic Preservation Grant cataloging downtown buildings to expand the Main Street Historic District, and nominate the qualifying district for the National Register of Historic Places; Submitted and Manage EPA Brownfields Assessment Grant for Kalispell redevelopment and revitalization; Founding member of North West Montana Community Land Trust Board; Submitted two federal and two state grant applications. FY 2011 BUDGET CONSTRAINTS * In budget year 2010 CED lost one position to attrition. No plan yet developed for future funding the department as operational funds continue to diminish. Community Development Funr+ (old i. FUND: ::. •:0 Personal Services: 110 Salaries & Wages 153 Health Insurance 155 Retirement Total Personal Services Materials and Services: 210 Office Supplies 211 Grant Administration Expenses 212 Project Expenses 213 Small Office Equip. 215 Computer Supplies/website 218 Other Equipment (non -capital) 231 Gas & Oil 312 Postage 320 Printing 331 Advertising for Grant Activities 334 Montana West Membership 335 Membership & Dues 345 Telephone, Communications 353 Auditing 354 Contract Services 355 Prospect Development 363 Office Equip Maintenance 373 School and Travel 379 Meetings 381 Training 396 Studies/Surveys & marketing 510 Property & Liability Ins. 521 Central Garage Transfer 522 Administrative Transfers 528 Data Processing Transfers 531 Office Rent new bldg Total Materials & Services ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 FTE's 3.0 1.5 1.15 1.00 $93,435 $95,074 $62,396 $55,988 $12,965 $11,769 $6,742 $6,363 $5,780 $6,619 $4,067 $3,618 $112,180 $113,462 $73,205 $65,969 $360 $500 $56 $500 $0 $1,000 $0 $1,000 $625 $0 $1 $0 $131 $200 $0 $200 $77 $1,000 $704 $1,000 $0 $300 $0 $300 $438 $300 $77 $300 $48 $300 $191 $300 $490 $6,000 $440 $1,500 $0 $335 $941 $1,500 $0 $500 $500 $500 $1,151 $700 $649 $700 $940 $750 $215 $750 $2,200 $1,500 $1,875 $1,500 $690 $1,000 $0 $1,000 $0 $3,000 $0 $3,000 $0 $100 $0 $500 $4,216 $3,500 $2,370 $1,500 $590 $500 $157 $500 $628 $1,500 $483 $1,000 $14,821 $25,000 $7,969 $25,000 $3296 $4,200 $2,660 $3,300 $500 $0 $0 $0 $8,996 $10,451 $10,451 $6,671 $7,199 $8,359 $8,359 $6,680 $4,700 $4,703 $4,703 $4,703 $52,096 $75,698 $42,801 $63,904 17 FUND:Community Development operations (old UDAG) ::.•:0• ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 Grants & Housing: 710 Land Trust Project $2,064 $18,000 $18,000 $0 711 Historic Preservation Project $19,000 $17,884 $0 790 Redevelopment Activity $5,377 $2,500 $0 $2,500 Total Grants & Housing $7,441 $39,500 $35,884 $2,500 GRAND TOTALS $171,717 $228,660 $151,890 $132,373 18 ';1'7, DEVELOPMENT O• FUND::: 4:0- BEGINNING CASH 10100 CASH: operating 10140 CASH: loan loss reserve Total Cash REVENUES 345010 APPLICATION/ORIGINATION FEES 373010 LOAN INTEREST * 371010 OTHER INTEREST 373030 PRINCIPAL TOTAL REVENUE AMOUNT AVAILABLE PERSONAL SERVICES REDEVELOPMENT ACTIVITY PRINCIPAL INTEREST ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 $312,876 $284,300 $284,300 $259,348 $19,095 $16,094 $16,094 $15,365 $331,971 $300,394 $300,394 $274,713 $250 $0 $0 $1,000 $14,458 $11,429 $15,512 $13,101 $4,265 $2,000 $2,418 $1,000 $15,955 $20,029 $13,051 $13,947 $34,928 $33,458 $30,981 $29,048 $366,899 $333,852 $331,375 $303,761 $2,201 $46,843 $34,542 $32,753 $970 $150,000 $46 $215,000 $16,706 $17,046 $16,975 $17,213 $5,368 $5,029 $5,099 $4,861 $25,245 $218,918 $56,662 $269,827 ENDING CASH 10100 CASH: operating $284,300 $98,840 $259,348 10140 CASH: loan loss reserve $16,094 $16,094 $15,365 ( Loan split between fund 2887 & 2888 equity $300,394 $114,934 $274,713 transfers of $41,260 cash moved to 2888 FY09) PROGRAM DESCRIPTION The purpose of the Revolving Loan Fund (RLF) is to provide gap financing or business retention, expansion or start-up with the focus on job creation. Funding Sources for the RLF come from possible CDBG Economic Development Grants TIF, Rural Development Intermediary relending Program (IRP) funds and the Community Development Revolving Loan Fund. Department was successful in writing a Rural Development (RD) grant application for $520,000 from the RD Intermediary Relending Program (IRP) on 10/12/04. $18,569 $15,365 $33,934 19 RURAL DEVELOPMENT LOAN REVOLVING 2887-480-470210 ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 Personal Services: 0.5 0.5 0.5 110 Salaries $2,068 $38,307 $28,875 $27,777 153 Health $0 $6,060 $3,788 $3,182 155 Retirement $133 $2,476 $1,879 $1,795 Total Personal Services $2,201 $46,843 $34,542 $32,753 Grants & Loans: 750 Redevelopment Activity Total Redevelopment activity Debt Service: 610 Principal 620 Interest of Rural Dev. Loans I % Total Debt Service $970 $150,000 $46 $215,000 $970 $150,000 $46 $215,000 $16,706 $17,046 $16,975 $5,368 $5,029 $5,099 $22,074 $22,075 $22,074 $17,213 $4,861 $22,074 Total budget $25,245 $218,918 $56,662 $269,827 FY 2011 BUDGET HIGHLIGHTS * Continue seeking applications of bank qualified loans to assist in "gap financing" to business creating jobs and investment utilizing program income from past loans. Manage the existing loan portfolio. Maintain and improve credit quality. Expand the loan program to serve a wider sector of businesses. FY 2010 BUDGET ACCOMPLISHMENTS Maintained the credit quality without any losses to the portfolio. Updating files and improving financial management of the loan financial portfolio. Successful audit from USDA-RD of the program. '8 Increased marketing of Revolving Loan Fund program to local banks and businesses. Converted one loan from a workout status to a performing loan. 20 RURAL DEVELOPMENT LOAN REVOLVING ■ 2888480-470210 BEGINNING CASH 10100 CASH: operating 10140 CASH: loan loss reserve 345010 APPLICATION/ORIGINATION FEES 373010 LOAN INTEREST * 371010 OTHER INTEREST 373030 PRINCIPAL TOTAL REVENUE AMOUNT AVAILABLE EXPENDITURES 610 INTEREST REPAYMENT TO IRP 750 REDEVELOPMENT ACTIVITY ENDING CASH 10100 CASH: operating 10140 CASH: loan loss reserve ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 $41,260 $59,801 $59,801 $101,402 $0 $12,910 $12,910 $11,514 $41,260 $72,711 $72,711 $112,916 $500 $0 $250 $1,000 $11,801 $6,923 $18,331 $11,125 $741 $800 $1,076 $500 $20,984 $20,292 $23,260 $24,511 $34,026 $28,015 $42,917 $37,135 $75,286 $100,726 $115,628 $150,051 $2,575 $2,575 $2,575 $10,930 $45,000 $137 $85,000 $2,575 $47,575 $2,712 $95,930 $59,801 $40,241 $101,402 $42,607 $12,910 $12,910 $11,514 $11,514 $72,711 $53,151 $112,916 $54,121 The purpose of the Revolving Loan Fund (RLF) is to provide gap financing or business retention, expansion or start-up with the focus on job creation. Funding Sources for the RLF come from possible CDBG Economic Development Grants TIF, Rural Development Intermediary relending Program (IRP) funds and the Community Development Revolving Loan Fund. Department was successful in writing a Rural Development (RD) grant application on 11/27/06 from the RD Intermediary Relending Program (IRP) of which $257,500 was used. FY 2011 BUDGET HIGHLIGHTS '8 Continue seeking qualified applicants to assist in "gap financing" to businesses, creating jobs & investment. Manage the existing loan portfolio. '8 Expand the loan program to serve a wider sector of businesses. FY 2010 BUDGET ACCOMPLISHMENTS Maintained the credit quality without any losses to the portfolio. Updating files and improving financial management of the loan financial portfolio. 21 2944 CDBGD for Flathead Community Collep 2944-480-470242 PROJECTED REVENUE AND FUND SUMMARY BUDGET ACTUAL BUDGET FY09/10 FY09/10 FY10/11 BEGINNING CASH CASH: operating $0 $0 $0 REVENUES 331011 CDBG ED GRANT $81,518 $0 $81,518 Total Available $81,518 $0 $81,518 EXPENDITURES Grant Expeditures $81,518 $0 $81,518 $81,518 $0 $81,518 ENDING CASH CASH: operating $0 $0 $0 EXPENDITURE/DETAIL SUMMARY ED Grant: 820 Administration -transfer to Community Development $3,428 $0 $3,428 780 Training Costs $72,000 $0 $72,000 790 Machinery/Equipment $6,090 $0 $6,090 $81,518 $0 $81,518 Pass thru grant for the college to purchase equipment used in training programs. 22 2946 CDBG - ED for Flathead Community College #2 FUND: 2946-480-470242 PROJECTED REVENUE AND FUND SUMMARY BUDGET FY10/11 BEGINNING CASH CASH: operating $0 REVENUES 331011 CDBG ED GRANT09-04 $273,945 Total Available $273,945 EXPENDITURES Expenditures $273,945 ENDING CASH CASH: operating $0 ED Grant: 820 Administration -transfer to Community Development $12,145 780 Training Costs $15,000 790 Machinery/Equipment $246,800 $273,945 Pass thru grant for the college to purchase equipment used in training programs. 23 EPA BROWNFIELDS ASSESSMENT GRANT FUND: 2953-480470210 PROJECTED REVENUE AND FUND SUMMARY BEGINNING CASH 10100 CASH REVENUE 331090 EPA FUNDING Total Revenue TOTAL AVAILABLE 780 Site Assessment Grants ENDING CASH CASH BUDGET ACTUAL BUDGET FY09/10 FY09/10 FY1/11 $0 $0 $320 $400,000 $4,168 $395,832 $400,000 $4,168 $395,832 $400,000 $4,168 $396,152 $400,000 $3,848 $396,152 $0 $320 $0 The City has been awarded $400,000 for Brownfield Revitalization Project funds to be used for Phase I and Phase 11 Environmental Assessments. FY 2011 BUDGET HIGHLIGHTS The Brownfields Steering Committee will meet and determine project priorities for assessments, participating in public education and outreach efforts and assessments will begin. FY 2010 BUDGET ACCOMPLISHMENTS The required Environmental Professional has been hired through a competitive process, the volunteer Brownfields Steering Committee is being assembled and the Brownfields site inventory has been drafted. 24 2991 NEIGHBORHOOD STABILIZATION GRANT 2991480-470242 BEGINNING CASH CASH: operating REVENUES 331011 NSP Grant Total Available EXPENDITURES 354 Contract Services - NSP Grant ENDING CASH CASH: operating Amended BUDGET ACTUAL BUDGET FY09/10 FY09/10 FY10/11 $0 $0 $0 $4,000,000 $1,167,024 $2,832,976 $4,000,000 $1,167,024 $2,832,976 $4,000,000 $1,167,024 $2,832,976 $4,000,000 $1,167,024 $2,832,976 $0 $0 $0 The purpose of Kalispell's NSP grant is to purchase foreclosed upon homes within the City of Kalispell to be placed in a newly formed community land trust and sold to income qualified households. Of these qualifying households, 25% must demonstrate household income of 50% of the area median income and 75% will have household income between 80% and 120% of area median income (addressing what is commonly referred to as workforce housing). FY 2011 BUDGET HIGHLIGHTS Purchased homes will be rehabilitated and placed into the North West Montana Community Land Trust and be sold to income qualified households. FY 2010 BUDGET ACCOMPLISHMENTS Eleven homes have been purchased under this program with a total of eighteen anticipated by the end of the fiscal year. 25 COURTYARD MAINTENANCE FUND: 2882-480470240 PROJECTED REVENUE DFUND SUMMARY BEGINNING CASH CASH: operating REVENUES OTHER FUNDING SOURCE -to be determined Gross Rent Receipts Total Available Property Management Cost: Debt Service: Total Expenditures ENDING CASH CASH: operating 480 470240 354 Maintenance & Operations 480 490500 620 Debt Service ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 $47,932 $36,284 $36,284 $2,259 $15,525 $72,061 $91,000 $65,009 $69,735 $119,993 $127,284 $101,293 $85,260 $58,893 $95,000 $77,926 $62,859 $24,816 $30,000 $21,108 $24,660 $83,709 $125,000 $99,034 $87,519 $36,284 $2,284 $2,259 $0 10►:i7 010113 it l".1-1 OT.iNd 10 El"A 7 01117\ i ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 $58,893 $24,816 $95,000 $30,000 $77,926 $21,108 $65,000 $24,660 $83,709 $125,000 $99,034 $89,660 PROGRAM DESCRIPTION The Courtyard Maintenance Reserve Fund is budgeted to reflect those costs which are incurred related to our 16 units of housing managed by Community Action Partnership of Northwest Montana. The revenues reflect rent received. The utilities and debt services costs will all be paid by Community Action Partnership per the joint venture agreement with them to manage this housing complex. We need budget authority to simply record the City's share. This is the City's equity in the project. 26