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Home My WebLink AboutDecember 05, 2017 - EDA Page 1 of 1 12/1/2017 8:38:18 AM Date - Batch (Julian) Page 1 of 2 Doc # Project Obj BU Remark Description Vend # Total Amount 0.719,600.003,669.778,898.50248.682,700.003,393.252,476.5017,797.7712,500.001,180.001,251.50 Ck Date GL Date Check TotalCheck TotalCheck TotalCheck TotalCheck TotalCheck TotalCheck TotalCheck TotalCheck TotalCheck TotalCheck TotalCheck Total Check # Date - Batch (Julian) Page 2 of 2 Doc # Project Obj BU Remark Description GRAND TOTAL Vend # Total Amount 1.13193,932.05560.00191,416.4585,975.00994.0017,729.570.7452.5010,000.00 564,378.12 Ck Date GL Date Check TotalCheck TotalCheck TotalCheck TotalCheck TotalCheck TotalCheck TotalCheck TotalCheck TotalCheck Total Check # ECONOMIC DEVELOPMENT AUTHORITY FOR THE CITY OF SHAKOPEE, MINNESOTA RESOLUTION NO. 17-5 AUTHORIZING THE LEVY OF A SPECIAL BENEFIT LEVY PURSUANT TO MINNESOTA STATUTES, SECTION 469.033, SUBDIVISION 6 WHEREAS, pursuant to Resolution No. 4206, adopted by the City Council of the City of Shakopee, Minnesota (the “City”), on April 4, 1995, as amended by Resolution No. 4381, adopted by the City Council of the City on February 6, 1996, and Minnesota Statutes, Sections 469.090 through 469.1082, the City created the Economic Development Authority for the City of Shakopee, Minnesota (the “Authority”); and WHEREAS, the Authority has the ability to exercise all powers and duties of a housing and redevelopment authority under the provisions of Minnesota Statutes, Sections 469.001 through 469.047 (the “HRA Act”); and WHEREAS, Section 469.033, subdivision 6 of the HRA Act permits the Authority to levy and collect a special benefit tax of up to 0.0185% of estimated market value of taxable property within the City, levied upon all taxable real property within the City; and WHEREAS, the special benefit tax levy authorized by Section 469.033, subdivision 6 of the HRA Act is separate and distinct from the City’s levy and is not subject to levy limits; and WHEREAS, the Authority desires to levy a special benefit tax in the amount of $350,000, which is less than 0.0185% of the estimated market value of taxable property within the City; and WHEREAS, the Authority has determined to adopt a levy of the special benefits tax in amount of $350,000 to be used for the Authority’s economic development and redevelopment activities; and NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners (the “Board”) of the Economic Development Authority for the City of Shakopee, Minnesota as follows: 1.The Board hereby approves a levy of $350,000 in proceeds of special benefits tax to be collected in 2018, subject to the approval by the City Council of the City (the “City Council”). 2.Staff of the Authority is hereby authorized and directed to file the levy with the City in accordance with Section 469.033, subdivision 6 of the HRA Act and request that the City Council consider approval of the special benefits tax levy. 3. There is hereby levied a special benefit tax pursuant to Section 469.033, subdivision 6 of the HRA Act in the amount equal to the lesser of a levy at a rate of 0.0185% of the estimated market value of taxable property within City or $350,000 with respect to taxes payable in calendar year 2018, contingent upon the approval of the City Council. 4.Staff of the Authority is hereby authorized and directed to take such other actions as are necessary to levy and certify such levy upon approval by the City Council. Sworn and Executed Under My Hand this 5th day of December, 2017. President Executive Director RESOLUTION NO. 17-6 A RESOLUTION ADOPTING THE 2018 BUDGET AND A REVISED BUDGET FOR 2017 BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF SHAKOPEE, MINNESOTA that the 2018 Budget and 2017 Revised budget with the estimated revenues and appropriations for the Economic Development Authority Fund as shown below is hereby adopted. 2017 Revised Budget 2018 Budget Economic Development Authority Fund Revenues $ 350,000-$ Taxes -450,000 Intergovernmental 6,00020,500 Charges for Services 5,00016,000 Miscellaneous -439,545 Transfers from Other Funds Total Revenues926,045 361,000 Expenditures 354,4002,162,390 Economic Development $ 6,600(1,236,345)$ Net Surplus (Deficit) Sworn and Executed Under My Hand this 5th day of December, 2017. President Executive Director 2018 Annual Budget Economic Development Authority Fund: Description of Services: The EDA does not currently constitute a separate department, but instead represents a number of services offered by the City related to economic development. These services are overseen by the Planning and Development Director with the help of other staff as required. The EDA is comprised of the City Council Members. The City Administrator is also the Executive Director of the EDA. Budget: ActualActualOriginal BudgetRevised BudgetBudget Expenditures by Category 20152016201720172018 Personnel102,414$ 113,784$ 146,800$ 60,100$ 144,000$ Supplies and Services267,271 233,037 47,300 127,290 185,400 Miscellaneous1,000,000 1,025,000 960,000 475,000 25,000 Capital Outlay250,312 - 999,500 1,500,000 - Totals1,619,997$ 1,371,821$ 2,153,600$ 2,162,390$ 354,400$ Dedicated Revenues1,033,338$ 1,300,829$ 951,000$ 486,500$ 361,000$ Expenditures by Category and Dedicated Revenue $2,500,000 $2,000,000 Capital Outlay $1,500,000 Miscellaneous Supplies and Services $1,000,000 Personnel Dedicated Revenues $500,000 $- Actual 2015Actual 2016Budget 2017Budget 2018 Key Measures: ActualActualProjectedProjected 2015201620172018 Number of Employees (FTEs) 1111.25 Value of Façade Loans $812,834$46,764$514,105$400,000 # of Façade Loans7165 Grants Received for Economic Development$1,000,000$1,029,810$450,000TBD Budget Impact: One of the most common things we’ve heard through the Envision Shakopee process is that people want to be able to live and work in Shakopee. They want housing choices – to start out in an apartment, move to a townhouse as their family grows and then to a single-family home. Currently only about 20 percent of Shakopee residents work and live in the community. Thus, one of the largest issues to be faced is how to attract and train our workforce. As Shakopee continues to grow and jobs become more technical and complex, training will be a critical element to retain and grow our companies. The Economic Development Authority (EDA) is striving to attract higher paying jobs to the community to employ more of our residents. Companies like EntrustData Card, Emerson and Seagate are some of our benchmarks. These companies offer higher wage jobs and their products are also high value. Also, newer companies like Shutterfly have recently diversified their business and are hiring more technical and higher paying positions. More than 60 percent ofall job growth comes from existing companies.In 2018, the EDA is puttinga stronger emphasis on businessretention and expansion. We want our Shakopeecompaniesto expand locally. We will be restrto create a newposition to concentrate on a business retention and expansion program, while identifying companies that would benefit from locatingin Shakopee near our key employers. This “clustering” of businesses is a proven strategyto retain and expand companies. A common thread through our Envision Shakopee feedback has been community interest in the revitalization of downtown. In recent year, the City Council committed $2 million in public improvements that will reconnect the community to its historic roots. The EDA is currently seeking proposals for two city-owned sites: the former city hall and a key location along the Minnesota River. Proposals will be returned in 2018 and the EDA and City Council will be discussing plans throughout 2018. Our goal is to make downtown a 24-hour area for residents, visitors and businesses. The EDA has also heard from the community its desire for more diversity in restaurant selection and local establishments. The EDA will be working on getting the Shakopee story out to entrepreneurs and small businesses throughout the year to attract them to areas throughout the community. Organization Chart: Mayor & Council Economic Director of Planning City Administrator Development & Development Specialist