HomeMy WebLinkAboutAgenda - Mail Packet - 9/16/2014 - Council Finance Committee & Ura Finance Committee Agenda - Sept. 15, 2014Council Finance Committee & URA Finance Committee
Agenda Planning Calendar 2014
RVSD 9/5/14 mnb
Sept. 15 TOPIC TIME WHO
CFC
Community Financial Report 15 min M. Beckstead
C. Donegon
Year End Appropriations 15 min M. Beckstead
Status of Auditor Findings 30 min M. DeKock
URA TIF Assistance Proposal 30 min M. Bolin
Oct. 20 TOPIC TIME WHO
CFC
Long Term Financial Plan 60 min A. Gavaldon
Comprehensive Fee Study 30 min J. Ping-Small
Annual Budget Adjustment Ordinance 30 min L. Pollack
URA
Nov. 17 TOPIC TIME WHO
CFC
New Financial Operating Policy 45 min J. Voss
Economic Health Policy 30 min J. Voss
J. Birks
URA
Dec. 15 TOPIC TIME WHO
CFC
URA
Future Council Finance Committee Topics:
• Review Special Improvement Districts
Future URA Committee Topics:
• No Topics in Queue
Finance Administration
215 N. Mason
2nd Floor
PO Box 580
Fort Collins, CO 80522
970.221.6788
970.221.6782 - fax
fcgov.com
AGENDA
Council Finance & Audit Committee
September 15, 2014
10:00 a.m. to 11:00 a.m.
CIC Room – City Hall
Approval of the Minutes from the August 18, 2014 meeting
1. Community Financial Report 15 minutes M. Beckstead
C. Donegon
2. Year End Appropriations 15 minutes M. Beckstead
3. Status of Auditor Findings 30 minutes M. Bolin
Finance Administration
215 N. Mason
2nd Floor
PO Box 580
Fort Collins, CO 80522
970.221.6788
970.221.6782 - fax
fcgov.com
Council Audit & Finance Committee
Minutes
8/18/14
10:00 a.m. to 12:00 noon
CIC Room
Council Attendees: Ross Cunniff, Bob Overbeck, Mayor Karen Weitkunat
Staff: Darin Atteberry, Mike Beckstead, Kelly DiMartino, John
Duval, Jeff Mihelich, Lawrence Pollack, Lance Smith, John
Voss, Katie Wiggett, Wendy Williams
Others: Dale Adamy; Kevin Jones, Chamber of Commerce
Approval of the Minutes
Ross Cunniff moved to approve the minutes from the July 21 meeting. Bob Overbeck seconded the
motion. Minutes approved unanimously.
Recommended Budget Overview
Mike outlined several improvements made to the Budget process. The 2015-2016 Budget process,
called Budgeting for Outcomes (BFO), began with the completion of the City Strategic Plan in March.
The strategic plan replaced the Request for Results and Outcome maps previously completed by the BFO
Teams. Other improvements included significant citizen outreach, increased citizen participation on the
BFO teams, and the use of the City’s financial software system to create metrics for offers. City staff
also modified offers to On-Going and Enhancements which significantly reduced the total number of
offers and allowed for year to year cost comparison by the budget teams.
As always, the budgeting process involves many challenging choices due to cost issues and funding
priorities. The City Manager’s 2015-2016 Recommended Budget reflects community priorities and seeks
to continue the high level of service expected by the community.
Mike walked through the revenue assumptions used in developing the 2015-2016 budget. Staff is
assuming moderate Sales and Use Tax revenue growth, including additional mall revenue in 2016. The
budget takes into account the fact that the quarter cent taxes may not be renewed in 2016. Ross asked
if the mall assumption relies on the original square footage projection. Mike answered that it does.
Mike also walked through Funding Opportunities included in the Budget, noting that unanticipated or
volatile revenues are included in the Budget, but are conservatively budgeted for one-time expenses
rather than on-going expenses.
Anticipated Utility rate increases of 2.0% for Light and Power and 3.0% for Wastewater are included in
both 2015 and 2016. The increase in Light and Power is driven by PRPA pass through, and the increase
2
in Waste Water is driven by capital improvements.
Wage adjustments assume an overall 2.0% increase each year, which is below initial market data for the
Front Range. Benefit cost inflation is forecasted at 11.5% and 3.7% in 2015 and 2016, respectively,
which includes the financial impact from national health care reform (the Affordable Care Act). There
are no changes planned for pension contributions.
Bob asked which inflation numbers Staff looks at to make their assumption. Mike answered that Staff
looks at national trends from the last 10 years as well as local experience to make projections.
Mike presented the following significant cost increases included in the 2015-2016 budget:
Total
Salary Costs $ 2.0
Health Care Reform $ 0.9
Benefits Cost $ 1.4
PFA Contribution per IGA $ 1.5
IT Equipment Replacement & Lease $ 2.0
Transit Service Annualize (including $.7M CSU funded) $ 2.4
General Fund Impact from Cons Trust Fund to Trails $ 0.7
Total $10.9
Darin explained that these costs are ones that the City does not necessarily choose, but costs that must
be taken care of. Lawrence noted that some of these costs are imbedded in other budget offers while
some have offers of their own.
The City Manager’s Recommended Budget is in the process of being finalized and published. It will
reflect a balance of ongoing programs and services with enhancements that directly address the
strategic objectives in the City Strategic Plan. The City Manager’s 2015-2016 Recommended Budget will
be delivered to City Council and be available to the public on August 29, 2014.
Building on Basics (BOB) – Update
John Voss explained that Council Finance had requested an updated on the status of Building on Basics
(BOB). This dedicated quarter cent sales and use tax was approved by voters on November 2, 2005 and
expires on December 31, 2015. In 2005, voters approved 13 specific projects with an estimated value of
$56.2M.
Karen asked why no inflation was assumed in 2005. John answered that, while Staff does not have data on
why inflation was not included with all projects in 2005, policy does include inflation now. In 2006, Staff did
apply an estimated inflation of 3.5% to construction projects. John noted that this was the first dedicated
revenue project that included O&M and O&M was set for 7 years.
John provided detailed summaries of each of the 13 projects, emphasizing that revenue is expected to
exceed the forecast made in 2005 and all project commitments will be completed by 2016. Operating and
maintenance (O&M) commitments will be provided through 2022. Though there was a shortfall in revenue
in 2006 and 2009, this shortfall was mitigated by economic growth and interest earned.
3
Ross asked why the O&M on the Senior Center Improvements was committed at 315M, but disbursed at
350M. John Voss answered that he is looking into that change.
The Mayor asked how City staff ensures that O&M is used correctly when it is appropriated but not used
within the calendar year. John answered that this money is tracked and placed in a fund allocated to O&M.
These funds are audited by McGladrey or by the City.
Darin said that the story of these 13 projects should be told to the community. The Mayor agreed that
messaging how these projects have been completed is important. She also asked that the rationale behind
O&M be made clearer in BOB 2.0.
General/Fund/Capital Improvement Policies
Mike explained that staff is proposing a method for updating the remaining three financial policies. Staff
seeks Council Finance’s concurrence on the recommended direction. Staff recommends combining the
three policies into a single General Financial Policy, incorporating parts of these policies into other
administratively approved policies (e.g. HR Administrative Policy) and moving some elements to a new CFO
Finance Operating Policy.
Mike explained that these policies as originally written were meant to be part of a budget policy, but were
later adopted as the City’s Financial Management policies. In the updating these policies to be true
Financial Management policies, Staff recommends categorizing the policies as 1) Financial Management
Policies – Approved by Council, 2) URA Financial Management Policies – Approved by Council/URA Board,
and Financial Management Policies – Approved by City Manager or CFO.
John Voss went through the General Policies, Fund Policies, and Capital Improvement Funds Policy,
explaining staff’s recommendations for each. Mike asked if council was philosophically aligned with the
proposed changes. Ross answered that he approves the method of change generally, but will appreciate
more details after the changes are made. Staff will bring the updated policies to Council Finance later in
2014. Ross also asked that the policies that are not council approved be made public on the City’s webpage
to ensure transparency. Darin and Mike agreed that, once finalized, these policies will be made public.
Other Business
Bob asked that Council Finance review the updates on the mall agreement.
Darin explained that he will sign an amendment to the mall agreement with four minor changes. Mike
explained that, of these four changes, two were minor changes and the other two were changes in wording
for transparency and acknowledgement. The changes are as follows:
1. Approval for a 7.25 foot underpass rather than the originally planned for 8 foot underpass
2. Agreement that Alberta shall put $300k in construction savings into the activity center
3. Acknowledgement that the City manager will approve the agreed to tenant mix
4. Acknowledgement that Alberta has the discretion to move around unrestricted funds from the
$50M of bond money
Darin will sign the agreement, which will allow Alberta to move forward with the bonding process. Alberta
expects to close on the bonds by late September. Mike noted that the bonds are expected to close at 6.5%.
With such a good interest rate, there will be a reduction in total debt service and the bonds will be paid off
sooner.
September 15, 2014
COUNCIL FINANCE COMMITTEE
AGENDA ITEM SUMMARY
Staff: Mike Beckstead
Chris Donegon
Date: September 15, 2014
SUBJECT FOR DISCUSSION: Community Financial Report
EXECUTIVE SUMMARY:
Financial Services has historically produced a “General Fund Finance Report” on a monthly
basis. The current report is primarily focused on General Fund Revenue with a high level
expenditure summary and does not include any other data on City operations beyond the General
Fund Activity.
Financial Services has developed a Community Financial Report that is comprehensive of
revenue and expenditures across the entire City. The new report is organized by Governmental
Activities and Enterprise (Utility) activities and includes revenue, expenditures and capital plus a
recap of various economic activity indicators.
The objective is to provide Council and the community a more holistic view of the finances
across the City. The current general fund report is produced monthly and it is proposed the new
report would be produced on a quarterly basis.
GENERAL DIRECTION SOUGHT AND SPECIFIC QUESTIONS TO BE ANSWERED
Does the Council Finance Committee agree to the replacement of the current General Fund
Finance Report with the new Community Financial Report.
BACKGROUND/DISCUSSION:
ATTACHMENTS:
1: New Community Financial Report (DRAFT)
2: Current General Fund Finance Report
All dollar values are presented in thousands. 1 September 11, 2014
3rd Quarter 2014
REPORT
FINANCIAL
DESCRIPTION
CURRENT
QUARTER
YEAR TO
DATE PAGE
Governmental Activity Revenue POSITIVE POSITIVE 2
Governmental Activity Expenditures POSITIVE POSITIVE 3
Major Activity Expenditures POSITIVE POSITIVE 4
General Fund Revenue POSITIVE POSITIVE 5
Governmental Capital Projects POSITIVE POSITIVE 6
Enterprise Activity Revenue POSITIVE POSITIVE 7
Enterprise Activity Expenditures POSITIVE POSITIVE 8
Enterprise Capital Projects POSITIVE POSITIVE 9
Activity Measures POSITIVE POSITIVE 10
PERFORMANCE AT A GLANCE
COMMUNITY
POSITIVE
WARNING
NEGATIVE
= No concerns noted
= Staff monitoring current variance
= Staff currently taking action on variance
PERFORMANCE INDICATORS ACTUALS vs. BUDGET
Governmental Definition: (Will get this for October Report)
Enterprise Definition: (Will get this for October Report)
NEW REPORT
DRAFT DRAFT
All dollar values are presented in thousands. 2 September 11, 2014
GOVERNMENT ACTIVITIES:
0
4,000
8,000
12,000
16,000
20,000
24,000
28,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
2014 Revenue 2014 Budget
Monthly Revenue Collections vs. Budget
Comments:
Revenues
Current
Month
Over/(Under)
2014 Bud
YTD
Actual
YTD
Over/(Under)
2014 Bud
Inc/(Dec)
2013
Sales & Use Tax $ 10,812 $ 1,206 $ 69,881 $ 6,250 $ 6,219
Use Tax Incentives 80 (286) 189 (2,376) (499)
Property Taxes 4,053 (102) 18,705 640 773
Intergovt. Shared Revenues 1,223 86 5,653 466 319
Culture, Parks, Rec & Env Fees 1,380 (108) 8,636 886 338
Payment in Lieu of Taxes 903 (28) 5,156 (13) 105
General Government Fees 4,129 (243) 25,172 781 2,306
Transportation Fees 766 158 4,695 1,692 1,143
Interest Revenue 92 22 841 319 182
Unrealized Invst. Gains/Losses (71) (71) 461 461 1,452
Other Miscellaneous 1,581 194 9,320 2,508 (830)
TOTAL $ 24,949 $ 828 $ 148,709 $ 11,615 $ 11,508
NEW REPORT
DRAFT DRAFT
All dollar values are presented in thousands. 3 September 11, 2014
GOVERNMENT ACTIVITIES:
Monthly Expenditures vs. Budget
0
4,000
8,000
12,000
16,000
20,000
24,000
28,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
2014 Expenditures 2014 Budget
Expenses by Service Area
Current
Month
(Over)/Under
2014 Bud
YTD
Actual
YTD
(Over)/Under
2014 Bud
(Inc)/Dec
2013
Police Services $ 3,298 $ (513) $ 20,654 $ 524 $ (1,672)
Financial Services 483 358 3,930 176 (678)
Community & Operation Services 5,460 215 34,068 6,586 800
Planning, Dev & Trans Services 4,440 187 19,904 3,929 (487)
ELJS 388 (18) 3,506 85 (265)
Employee & Comm Services 1,803 173 15,250 (415) (1,243)
Sustainability Services 998 (432) 3,891 51 (255)
Other 182 (210) 5,527 444 72
Poudre Fire Authority 1,493 (67) 12,417 161 (713)
TOTAL $ 18,545 $ (307) $ 119,147 $ 11,542 $ (4,441)
Comments:
NEW REPORT
DRAFT DRAFT
All dollar values are presented in thousands. 4 September 11, 2014
MAJOR FUNDS ACTIVITIES:
Expenses by Major Fund July 2014
Expenses by Major Fund
Current
Month
(Over)/Under
2014 Bud
YTD
Actual
YTD
(Over)/Under
2014 Bud
(Inc)/Dec
2013
General Fund $ 10,187 $ (1,390) $ 70,230 $ 5,523 $ (6,682)
Keep Fort Collins Great 2,346 (679) 9,658 2,914 157
Natural Areas 661 130 5,677 1,414 1,239
Cultural Services 144 55 1,855 348 28
Recreation 538 29 3,160 182 76
Transportation 2,321 332 13,043 492 (1,888)
Golf 266 (62) 2,183 (40) (385)
Benefits Fund 1,521 165 13,457 (627) (958)
Other Funds 3,569 1,105 28,036 2,648 (370)
SubTotal $ 21,553 $ (314) $ 147,298 $ 12,853 $ (8,782)
Transfers (3,008) 8 (28,151) (1,311) 4,341
Total 18,545 (307) 119,147 11,542 (4,441)
47%
11%
1% 3%
2%
11%
1%
7%
17%
Expenses Before Transfers
General Fund
Keep Fort Collins Great
Natural Areas
Cultural Services
Recreation
Transportation
Golf
Benefits Fund
Comments:
NEW REPORT
DRAFT DRAFT
All dollar values are presented in thousands. 5 September 11, 2014
GENERAL FUND REVENUE ACTIVITY:
General Fund Revenue vs. Budget
Comments:
0
4,000
8,000
12,000
16,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
2014 Revenue 2014 Budget
Revenues
Current
Month
Over/(Under)
2014 Bud
YTD
Actual
YTD
Over/(Under)
2014 Bud
Inc/(Dec)
2013
Sales & Use Tax $ 6,664 $ 709 $ 43,264 $ 3,830 $ 4,072
Use Tax Incentives 48 (319) 129 (2,437) (387)
Property Taxes 3,753 (84) 17,301 667 888
Intergovt. Shared Revenues 30 1 190 34 24
Culture, Parks, Rec & Env Fees 59 (17) 289 16 14
Payment in Lieu of Taxes 903 (28) 5,156 (13) 105
General Government Fees 713 213 3,667 297 335
Interest Revenue 33 15 293 154 77
Unrealized Invst. Gains/Losses (24) (24) 188 188 526
Other Miscellaneous 1,239 18 7,278 1,006 1,034
TOTAL $ 13,416 $ 484 $ 77,754 $ 3,744 $ 6,688
NEW REPORT
DRAFT DRAFT
All dollar values are presented in thousands. 6 September 11, 2014
Project
YTD
Actual
LTD
Actual
LTD
Budget
PO's
Commited Available
Waters Way Park $ 12 $ 1,852 $ 1,875 $ 16 $ 7
Registry Park 30 1,676 1,712 27 8
Staley Neighborhood Park 1 1,970 2,151 12 169
Maple Hill Park 0 533 2,671 - 2,138
Tri-City Trails 63 740 1,028 - 288
NA Office Building 1,180 1,615 1,841 19 207
Southeast Community Park 34 3,813 4,343 265 265
East Community Park - 176 1,700 - 1,524
BOB-Sr Center Expansion 4,556 5,632 6,675 746 297
114 - Trail Acq/Dev-Special Funds 6 6 1,741 33 1,702
186 - New Park Site Acquisition 7 1,995 2,461 - 466
187 - New Park Site Development 24 1,561 2,575 28 986
188 - Open Space Acquisition - 1,106 1,162 1 55
190 - Trail Acquisition/Development 37 7,602 7,762 157 3
191 - Fossil Creek Trail 170 3,874 4,214 203 137
311 - FC Museum/DSC 25 2,586 2,586 - 0
Community & Operation Services 6,145 36,739 46,497 1,506 8,253
Transit Operating 6,689 55,968 65,280 623 8,689
Transit Capital 2,205 8,456 13,100 421 4,223
106 - I-25/SH392 Interchange 4 4,333 4,740 50 356
107 - N College Imprv-Conifer/W illox 1,701 2,394 14,625 709 11,522
160 - Mason St Transp Corridor 6,470 83,462 96,709 9,820 3,427
166 - BOB Ped Plan/ADA Improv 102 3,208 3,840 56 576
169 - Street Oversizing Projects 35 8,059 12,317 441 3,817
170 - BOB-Int Imp & Traffic Sign 526 6,675 14,323 909 6,739
172 - City Bridge Program 632 4,114 5,767 166 1,487
305 - N College Improv-Vine/Conifer 39 9,382 9,615 3 231
312 - City Bridge Prog-KFCG 2,120 3,522 6,135 790 1,823
Planning, Dev & Trans Services 20,523 189,574 246,450 13,988 42,889
CDBG FY 10-11 34 928 1,042 - 114
CDBG FY 11-12 (0) 1,186 1,186 - -
CDBG FY 12-13 (1) 985 1,013 28 0
CDBG FY 13-14 556 591 1,692 104 998
CDBG FY 14-15 - - 1,235 - 1,235
HOME FY 13-14 2 19 1,339 601 720
111 - WW Public Improvements 2,341 2,740 6,547 1,477 2,331
Sustainability Services 2,932 6,447 14,054 2,210 5,398
29,600 232,760 307,002 17,703 56,539
Projects less than $1.0 M 1,496 12,687 30,952 894 17,372
TOTAL $ 31,095 $ 245,446 $ 337,954 $ 18,597 $ 73,911
GOVERNMENT CAPITAL PROJECTS:
Government Capital Projects over $1 million
NEW REPORT
DRAFT DRAFT
All dollar values are presented in thousands. 7 September 11, 2014
ENTERPRISE ACTIVITES:
Monthly Revenue Collections vs. Budget
Comments:
0
4,000
8,000
12,000
16,000
20,000
24,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
2014 Revenues 2014 Budget
Revenues
Current
Month
Over/(Under)
2014 Bud YTD Actual
YTD
Over/(Under)
2014 Bud
Inc/(Dec
) 2013
Electric Charges for Svcs $11,046 $(458) $64,805 $(441) $542
Water Charges for Svcs 3,188 199 14,970 738 1,484
Wastewater Charges for Svcs 1,850 156 12,251 1,065 618
Stormwater Charges for Svcs 1,218 54 8,540 392 185
Cust Srv & Admin Fund Chgs 1,128 (22) 7,894 (848) 249
Interest Revenue 102 (22) 987 85 168
Unrealized Invst. Gains/Losses (89) (91) 374 362 1,613
Devlpmnt Fees/PIFS/Contrib 3,289 2,674 15,465 12,021 7,992
Financing Sources 0 0 23 23 364
Other Miscellaneous 343 72 1,868 354 (410)
TOTAL $22,076 $2,563 $127,177 $13,752 $12,806
NEW REPORT
DRAFT DRAFT
All dollar values are presented in thousands. 8 September 11, 2014
ENTERPRISE ACTIVITIES:
Monthly Expenditures vs. Budget
0
4,000
8,000
12,000
16,000
20,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
2014 Expenditures 2014 Budget
Expenses by Department
Current
Month
(Over)/Under
2014 Bud
YTD
Actual
YTD
(Over)/Unde
r 2014 Bud
(Inc)/Dec
2013
Purchase Power $8,400 $1,112 $47,115 $3,099 $336
Other Light & Power Fund 3,071 8 19,262 702 (564)
Water Fund 1,405 788 11,522 2,073 (704)
Wastewater Fund 893 204 7,194 970 168
Stormwater Fund 693 (177) 4,011 391 (155)
Customer Service & Admin 892 154 6,681 1,225 (200)
Climate Wise KFCG 3 (3) 54 24 (22)
TOTAL $15,356 $2,086 $95,839 $8,485 $(1,142)
Comments:
NEW REPORT
DRAFT DRAFT
All dollar values are presented in thousands. 9 September 11, 2014
Capital Projects:
Enterprise Capital Projects Over $1 Million
Project
YTD
Actual
LTD
Actual Budget
PO's
Commited Available
108 - ARRA DOE Grant-RDSI $ 6,901 $ 7,370 $ 175 $ 293
117 - Substation Cap Proj 28 6,442 8,763 5 2,316
130 - SW Enclave Sys Purchases 0 0 1,303 0 1,303
133 - Underground Conversion 228 332 1,759 0 1,427
304 - Service Center-L&P Parent 509 770 4,620 1,410 2,439
307 - Smart Grid Invest Grant 2,759 30,080 34,890 3,721 1,089
Projects less than $1.0 717 854 1,702 210 638
Light & Power 4,241 45,379 60,406 5,522 9,505
Halligan Res Enlargement Proj 275 12,598 37,377 579 24,201
Water Prod Replace Summary 0 0 3,421 0 3,421
101 - Water Meter Replace & Rehab 253 5,669 7,100 230 1,201
105 - High Park Fire 0 1,845 2,238 0 393
196 - Distribution Sys Replcmnts 1,391 2,882 6,864 1,677 2,305
198 - Wtr Svc Ctr Improvements 0 1,000 1,343 11 332
206 - Water Supply Development 0 1,005 2,137 6 1,125
207 - Southwest Sys Improvmnts 0 1,072 1,487 6 409
211 - Water Prod Replcmnt Prgm 1,327 4,004 6,246 785 1,458
303 - Gravel Pit Storage Ponds 3,070 4,321 11,577 6,599 657
308 - Wtr Eng Distrib Sys Rplcmn 348 2,996 4,653 494 1,162
313 - Wtr Cathodic Protection 141 678 973 106 189
Projects less than $1.0 545 3,047 4,520 187 1,286
Water 7,350 41,118 89,937 10,681 38,138
North Sheilds Sewer Interceptor 2 2 2,000 76 1,921
WRF Replacement Projects 0 0 2,967 0 2,967
BRT-Mason Str Sewer Main Rep 6 283 1,150 25 842
102 - DWRF CIP Summary 20 20 1,811 439 1,352
212 - WW Collection Sys Replcmnt 927 2,587 6,853 1,078 3,188
214 - WW Svc Ctr Improvements 0 2,080 2,579 2 498
215 - DWRF Improvements 24 26,748 27,053 6 299
216 - Sludge Disposal Improv 6 5,762 6,444 5 676
220 - MWRF Improvements 18 36,300 36,785 25 460
221 - Wtr Reclam Replcmnt Prgm 783 7,087 8,207 496 624
Projects less than $1.0 333 1,326 2,552 51 1,174
Wastewater 2,119 82,197 98,401 2,203 14,001
103 - SW Basin Improvements 1,502 1,983 5,013 925 2,105
222 - SW Drainage Sys Replcmnt 77 753 1,296 67 475
227 - Dry Crk Basin Improv 32 540 1,680 178 962
229 - W Vine Basin Improv #2 153 705 1,852 136 1,011
232 - Canal Importation Bas Impr 103 20,489 21,231 4 739
233 - Cooper Slough Bas Improv 12 1,430 5,871 0 4,441
235 - Poudre Drainageway Pl 93 307 1,117 266 544
236 - SW Master Planning 227 5,149 5,327 43 136
238 - SW Developer Repays 74 1,659 2,180 15 506
Projects less than $1.0 137 1,768 3,417 224 1,425
Stormwater 2,409 34,784 48,985 1,857 12,344
TOTAL 16,119 203,478 297,728 20,263 73,988
NEW REPORT
DRAFT DRAFT
All dollar values are presented in thousands. 10 September 11, 2014
Activity Measures (Data reflects a one quarter lag)
Overall Comments:
Measure 2nd Qtr
2014
2nd Qtr
2013
2nd Qtr
2012 YTD 2014 YTD 2013 YTD 2012
Volume 643 254 155 826 618 255
New Commercial Permit Dollar
Volume per Capita $123.30 $22.00 $13.00 $487.80 $31.00 $135.00
Lodging Occupancy Rates 74.60% 78.40% 69.70% 66.30% 65.12% 61.65%
Community Energy Use (%
Change form 2005 baseline) -12.60% -8.60% -5.70% -10.80 -8.60% -7.10%
Recordable Accident Frequency
(RAF) Rate YTD 6.6 7.2 5.7 7.3 7.3 6.3
Days Away Restricted or Trans-
ferred (DART) Rate YTD 3.9 3.8 2.6 4.0 3.8 2.4
Part 1 Crimes per Capita Com-
5.68 6.77 8.33 5.31 6.59 7.55
Number of Noise Complaints 147 136 127 227 213 223
Transfort Fixed Route Ridership 604,180 599,291 500,858 1,224,834 1,230,497 1,158,584
New Sales Tax Licenses 349 265 276 872 564 585
Terminated Sales Tax Licenses 281 140 110 434 604 398
NEW REPORT
DRAFT DRAFT
All values are presented in thousands. 1 September 11, 2014
July 2014
POSITIVE
WARNING
NEGATIVE
= No concerns noted
= Staff monitoring current variance
= Staff currently taking action on variance
CURRENT MONTH YEAR TO DATE REFERENCE
GENERAL FUND
Revenue vs. Expenditures POSITIVE POSITIVE Page 2
Total Revenue POSITIVE POSITIVE Page 2
Sales Tax Revenue (prior month activity) POSITIVE POSITIVE Page 3
Use Tax Revenue (prior month activity) POSITIVE POSITIVE Page 3
Property Tax Revenue POSITIVE POSITIVE Page 4
Other Revenues POSITIVE POSITIVE Page 4
Fees and Charges POSITIVE POSITIVE Page 5
Expenditures POSITIVE POSITIVE Page 5
PERFORMANCE AT A GLANCE
PERFORMANCE INDICATORS ACTUALS vs. BUDGET
*Numbers in this report are subject to change as items are posted into the period they occurred.
REPORT
FINANCIAL
MONTHLY
GENERAL FUND
OLD REPORT
All values are presented in thousands. 2 September 11, 2014
2014*
Rev
2014*
Exp Var.
JAN $9,441 $7,966 $1,475
FEB 8,440 8,930 -489
MAR 12,689 14,273 -1,584
APR 10,282 8,645 1,636
MAY 14,389 13,710 679
JUN 11,001 6,430 4,571
JUL 13,460 10,201 3,259
AUG
SEP
OCT
NOV
DEC
Totals $79,702 $70,155 $9,547
*Actuals
REVENUE VS EXPENDITURES (Excludes Use Tax Economic Incentive Revenues and Expenditures)
OVERALL FUND PERFORMANCE:
July 2014 General Fund revenue collections were higher than July 2013 by 5.4% . Collections were up when compared to the
monthly budget by $731 (5.7%). A majority of the difference is due to higher sales and use tax collections (a total of $676).
Year to date collections are up $6,366 (8.7%) compared to the budget.
POSITIVE
TOTAL REVENUE (Excludes Use Tax Economic Incentive Revenues)
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
2014
Revenue
2014
Expenditures
July 2014 generated a positive cash flow month with revenues higher than expenditures by $3,259. During the month revenues
were 31.9% higher than expenditures. Revenues are typically higher than expenditures in July because the second coupon
payment for property taxes are due in June and remitted to the City in July.
POSITIVE
2014
Actual
2014
Budget Var.
JAN $9,441 $9,243 $197
FEB 8,440 7,518 922
MAR 12,689 11,292 1,397
APR 10,282 9,813 469
MAY 14,389 12,835 1,554
JUN 11,001 9,906 1,096
JUL 13,460 12,729 731
AUG
SEP
OCT
NOV
DEC
All values are presented in thousands. 3 September 11, 2014
2014
Actual
2014
Budget Var.
JAN $990 $711 $279
FEB 886 711 174
MAR 1,194 711 482
APR 871 711 160
MAY 1,235 711 523
JUN 1,231 711 520
JUL 1,181 711 470
AUG
SEP
OCT
NOV
DEC
TOTALS $7,588 $4,979 $2,608
Use Tax Collections are for
Sales in prior m onth.
2014
Actual
2014
Budget Var.
JAN $6,345 $6,117 $228
FEB 4,427 4,430 -3
MAR 4,294 4,296 -2
APR 5,163 4,940 223
MAY 4,812 4,594 217
JUN 5,126 4,834 292
JUL 5,450 5,244 206
AUG
SEP
OCT
NOV
DEC
TOTALS $35,616 $34,454 $1,162
Sales Tax collections are
for Sales in prior month.
Sales Tax represents just over 50% of the General Fund Budget and serves as the primary funding source for the general
government. The General Fund allocation of sales tax remitted to the City in July and collected by merchants in June
experienced an increase of 7.9% compared to sales tax remitted in July 2013. Monthly collections by merchants were higher than the budget by $206
(3.9%) and year to date collections are up $1,162 (3.4%) compared to budget.
GENERAL FUND
REVENUE ANALYSIS:
SALES TAX REVENUE
POSITIVE
Use Tax represents approximately 10% of the General Fund Budget. Use tax is volatile because it is heavily dependent on
building activity and vehicle sales. Use Tax collections in July 2014 were up 19.3% compared to 2013 and were 66.1% higher
than the budget. Year to date collections are up $2,608 (52.4%) due to increased collections in building permit use tax.
USE TAX REVENUE (Excludes Use Tax Economic Incentive Revenues)
POSITIVE
0
1,000
2,000
3,000
4,000
5,000
6,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
All values are presented in thousands. 4 September 11, 2014
2014
Actual
2014
Budget Var.
JAN $ - $ - $ -
FEB 436 451 -15
MAR 5,110 4,121 989
APR 1,491 1,700 -209
MAY 4,494 4,438 55
JUN 2,017 2,088 -71
JUL 3,753 3,836 -84
AUG
SEP
OCT
NOV
DEC
TOTALS $17,301 $16,634 $667
Property taxes represent 15% of the overall General Fund Budget. They are remitted in two installments due on February 28
and June 16 or they are paid in full by April 30. Whether paid by installment or in full by the April deadline, over 95% of the levy
has typically been remitted to the City by the end of July each year. Property tax collections for July 2014 were higher than 2013 by 4.6%, but were
lower than the monthly budget by less than 1%. Year to date collections are higher than the budget by $667 (4.0%).
PROPERTY TAX REVEUNE
REVENUE ANALYSIS (continued):
GENERAL FUND
POSITIVE
2014
Actual
2014
Budget Var.
JAN $920 $928 -$9
FEB 1,568 807 761
MAR 953 1,037 -83
APR 1,656 908 748
MAY 2,250 2,067 183
JUN 1,427 1,086 341
JUL 1,619 1,185 434
AUG
SEP
OCT
NOV
DEC
TOTALS $10,393 $8,019 $2,375
Other revenue consists of licenses (e.g., contractor license, liquor license), permits (e.g., building permits, street cut permits),
fines (e.g., court fines, camera radar fines), earnings on investments and miscellaneous. The volume of activity (i.e., building
permits and fines) will fluctuate month to month. Other revenue collections for July 2014 were higher than 2013 by 27.1% and were higher than the
budget by 36.6%. Year to date collections are higher than the budget by $2,375 (29.6%).
OTHER REVENUE
POSITIVE
0
1,000
2,000
3,000
4,000
5,000
6,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
2014 Actual 2014
Budget
2013
All values are presented in thousands. 5 September 11, 2014
2014
Actual
2014
Budget Var.
JAN $1,186 $1,471 -$285
FEB 1,124 1,136 -13
MAR 1,138 1,127 11
APR 1,101 1,554 -453
MAY 1,599 1,024 575
JUN 1,201 1,187 14
JUL 1,457 1,752 -295
AUG
SEP
OCT
NOV
DEC
TOTALS $8,804 $9,250 -$446
REVENUE ANALYSIS (continued):
FEES AND CHARGES REVENUE
Fees and charges for services include the following: payments in lieu of taxes (“Pilot”) paid by the Utilities to the General Fund,
administrative charges, plan checking fees, PUD Subdivision & zoning fees, real estate service fees, custodial service fees,
project management service fees, and cable franchise fees. July 2014 Fees and Charges were higher than July 2013 by 7.8%, but were 16.8% lower
than the budget. Year to date collections are lower than the budget by $446 (4.8%).
GENERAL FUND
POSITIVE
Expenditures for July 2014 were higher than July 2013 by 13.6% and were higher than the budget by 16.0%. Year to date
POSITIVE expenditures are lower than the budget by $5,150 (6.8%).
0
500
1,000
1,500
2,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
2014 Actual 2014
Budget
2013
EXPENDITURES (Excludes Use Tax Economic Incentive Expenditures)
2014
Actual
2014
Budget Var.
JAN $7,966 $9,008 $1,042
FEB 8,930 8,600 -330
MAR 14,273 14,912 640
APR 8,645 9,475 830
MAY 13,710 12,189 -1,521
JUN 6,430 12,323 5,893
JUL 10,201 8,797 -1,404
AUG
SEP
OCT
NOV
DEC
TOTALS $70,155 $75,305 $5,150 0
2,000
4,000
6,000
8,000
10,000
1
Year End Appropriations
September 15, 2014
2
Snow Removal
Year 2008 2009 2010 2011 2012 2013 2014 spent 2014 estimated
Cost per year $ 1,249,150 $ 1,757,387 $ 1,378,468 $ 1,386,401 $ 1,150,806 $ 1,833,274 $ 1,330,273 $ 2,083,841
Total Cost per calendar year for snow operations
3
Benefits
Medical Claims Trends
4
Property & Liability Claim Payments
5
Workers Compensation Claim Payments
September 15, 2014
COUNCIL FINANCE COMMITTEE
AGENDA ITEM SUMMARY
Staff: Mike Beckstead, CFO
Mike DeKock, Accounting Manager
Date: September 15, 2014
SUBJECT FOR DISCUSSION
Status of auditor findings from 2013 financial and compliance audit.
EXECUTIVE SUMMARY
In connection with the City’s annual audit of its financial statements and compliance performed
by McGladrey LLP we receive a report on the financial statements, internal control and
compliance over financial reporting and internal control and compliance over Federal Awards as
required by Government Auditing Standards and OMB Circular A-133. Each report provided by
McGladrey LLP included an unmodified or “clean” opinion which they presented at the July 21,
2014 Council Audit and Finance Committee Meeting.
The purpose of this agenda item is to summarize the status of findings that were reported by the
auditors.
GENERAL DIRECTION SOUGHT AND SPECIFIC QUESTIONS TO BE ANSWERED
Is there additional action that should be taken by management to respond to the findings and/or is
their additional information that can be provided in regard to the annual financial and compliance
audit process.
BACKGROUND/DISCUSSION
The following summarizes management’s responses to the findings provided by McGladrey in
each report issued.
Report on the Financial Statements
• The financial statement audit report did not include any findings, however the
report issued to the City Council did include three audit misstatements. All
three of the misstatements involved the cut-off of revenue recognition and
none were deemed to be significant by the auditors.
o Management Response: The 2014 year-end process will soon be
communicated to the City Financial Liaisons which will include new
procedures requiring the reconciliation and invoicing of all significant
revenue sources in December which will alleviate cut-off errors in the
future.
September 15, 2014
Report on Internal Control and Compliance over Financial Reporting
• No findings reported
Report on Internal Control and Compliance over Federal Awards
• CDBG Program Significant Deficiency: The City does not have an adequate
system for ensuring certain program income requirements are being met
including performing a timely reconciliation of applicable grant-related
general ledger accounts and the U.S. Department of Housing and Urban
Development (HUD) Integrated Disbursement Information System (IDIS).
o Management Response: This is a previous finding from the 2012 audit
and management’s response in 2013 was deemed inadequate. In 2014
the Social Sustainability and Accounting Departments met with HUD
to better understand the compliance requirements for program income
and timely reconciliation of IDIS. Using that information the two
departments developed a system for monthly reconciliation of IDIS
and the general ledger. The auditors viewed this as an acceptable
response and the issue is considered resolved as of 3/31/14.
ATTACHMENTS
None
Finance Administration
215 N. Mason
2nd Floor
PO Box 580
Fort Collins, CO 80522
970.221.6788
970.221.6782 - fax
fcgov.com
AGENDA
Urban Renewal Authority Board Finance Committee
September 15, 2014
11:00 a.m. to 12:00 noon
CIC Room – City Hall
Approval of the Minutes from the April 21, 2014 Meeting
1. TIF Assistance Proposal 30 minutes M. Bolin
Finance Administration
215 N. Mason
2nd Floor
PO Box 580
Fort Collins, CO 80522
970.221.6788
970.221.6782 - fax
fcgov.com
URA Finance Committee Meeting
Minutes
4/21/14
11:00 to 11:30
CIC Room
Council Attendees: Bob Overbeck, Ross Cunniff
Staff: Darin Atteberry, Mike Beckstead, Megan Bolin, Carrie
Daggett, John Duval, Harold Hall; Bruce Hendee, Tom
Leeson, Jeff Mihelich, Lawrence Pollack, John Voss, Katie
Wiggett
Others: Rob Kauffmann, Alberta; Ron Lautzenheiser, CAG; Neil
McCaffrey, CAG; Tim Kenney, CAG; Kevin Jones, Chamber;
Bob Brown, CAG; Dean Hoag, CAG
Approval of the Minutes of February 10, 2014
Bob Overbeck moved to approve the minutes for the February 10, 2014 meeting. Ross Cunniff seconded
the motion. Minutes approved unanimously.
North College Citizen’s Advisory Group (CAG)
A joint meeting between the North College Citizen’s Advisory Group (CAG) and the Urban Renewal
Finance Committee was requested by members of the CAG to discuss Urban Renewal Authority Policies
and the North College TIF District. The CAG, which is a sub-group of the North Fort Collins Business
Association, is a self-appointed, ad-hoc City committee made up of business owners and property
owners in the North College area. The CAG was formed in 2004 when the North College Urban Renewal
Area was created, and includes many of the original members that requested and initiated the North
College Urban Renewal Plan. Their purpose is to provide the URA Board with feedback regarding
proposed URA funded projects and URA policies. The CAG meets monthly and Councilmember Overbeck
is the URA liaison.
CAG members brought up several concerns:
• Need for better communication between the URA board and CAG
• Unfunded North College projects
• The funding of City staff jobs through the North College URA
• How the project Revive was handled
• The importance of housing projects
Ron Lautzenheiser explained that the funding of certain jobs in Economic Health was originally taken on
by the North College URA with the understanding that the cost would eventually be shared. Ron said
that the URA would like to be more proactive in its projects.
2
Bruce Hendee said that he appreciated CAG’s design to be more proactive. The economic development
team has sat down and discussed how to get more projects moving in the URA.
Neil explained that the issue with Revive was that they were asked to vote on the project on the day
that it was presented to them, which goes against policy for them. They did approve the project in
principal; however, they did not approve the 72% limit. Ross Cunniff noted that Revive is a bad example
because it was a unique, “need immediately” project; it is not representative of the majority of the
URA’s projects. Tim Kenney agreed, but said that Revive did reveal that there is room to clean up the
process.
Ross asked for CAG’s opinion on the 75% cap on TIF deals. The CAG is divided in opinion on where to set
a cap. Ron said that they used to recommend a 50/50 share as a rule; however, he doesn’t want to be
too restrictive with a cap—any cap set should be flexible. Neil believes that there should be a cap lower
than 75% and that Council should be slow to make exceptions. Ross suggested that CAG write a memo
to the URA commission outlining the commission’s opinion about setting parameters.
Darin said that he was identifying 3 major trends:
1. A need for better communication
2. A sense of urgency to be more proactive
3. A desire for URA contribution to developers to be as low as possible
Darin suggested that Council and Staff should set up clear standards of communication with CAG.
Bruce noted that Sustainability does attend CAG’s monthly meetings, and is willing to increase
communication with CAG. Tom Leeson noted that much of the communication frustration came out of
the Revive project and can be avoided in the future. Tim agreed that Staff generally does do a good job
communicating with CAG regularly; the revive project was unusual.
Dean Hoag pointed out that the communication gap isn’t just with the City, it’s often with the
Developer. CAG has a practice not to vote on a project on the same day it comes to them and would
encourage Council to adopt the same practice to ensure they have enough time to consider each
project. Dean also said that the URA would benefit from a strategic plan for these final days.
Tom replied that Staff is working on a strategic Plan. Staff is also looking into other funding options for
URA Staff, looking at other districts and the General Fund as potential funding sources. Mike Beckstead
offered to come to a future CAG meeting to discuss the financials.
Tom Leeson also noted that the formality of the CAG must be considered. CAG is not an official City
board or commission. It doesn’t follow the City’s rules concerning conflicts of interest. Neil responded
that the group is comfortable remaining an informal group and they are very aware of conflicts of
interest.
Darin thanked CAG for their candor in this discussion and said that he will debrief Council on the
discussion and look for ways to continue to improve this relationship.
September 15, 2014
COUNCIL FINANCE COMMITTEE
AGENDA ITEM SUMMARY
Staff: Tom Leeson, Megan Bolin
Date: September 15, 2014
SUBJECT FOR DISCUSSION
Tax Increment Financing Proposal for Northern Colorado Feeders Supply
EXECUTIVE SUMMARY
Approximately $61,550 of tax increment financing (TIF) assistance is proposed for the
redevelopment of Northern Colorado Feeders Supply’s new location at 300 Hickory Street in the
North College Urban Renewal area. TIF would be provided as a reimbursement and paid over
time based on actual increment collected from the project.
GENERAL DIRECTION SOUGHT AND SPECIFIC QUESTIONS TO BE ANSWERED
1. Are there any concerns with the proposed TIF assistance amount and/or structure of the
reimbursement?
2. Should the project proceed with consideration of a Redevelopment Agreement by the full
URA Board on September 30, 2014?
BACKGROUND/DISCUSSION
Since 1972, Northern Colorado Feeders Supply, Inc. (property owner) has operated a high
quality feed and animal supply manufacturing and retail business in Fort Collins. In early 2014,
the property owner sold the original business’ property at 359 Linden Street in the River District
to be redeveloped. After evaluating several sites, the property owner purchased 300 Hickory
Street within the North College Urban Renewal Plan area to relocate the business. The new site
had been vacant for almost a year prior to the property owner’s purchase and had homeless
persons living in the buildings (existing site images attached). The property owner cleaned up the
site and has been operating there since June, although additional improvements are planned.
Most notably, a new 2,100 sq. ft. retail/office building will replace an existing, severely
deteriorated office building, in addition to the installation of a new fence and improved public
sidewalk and landscaping (site plan and renderings attached).
Financial Information
URA staff have worked with the property owner to understand costs associated with the project
and the potential for tax increment financing (TIF). The table below provides pertinent financial
information that serves as the basis for the proposed assistance.
Estimated Annual Property Tax Increment* $10,556.80
Total Increment Generated over Remaining Life of the N. College Plan Area $158,352.00
Total Project Cost $1,119,318.00
Developer Equity $1,040,017.59
September 15, 2014
Project Cost Gap $79,300.41
* Estimate of valuation from Larimer County attached
Public Benefit
URA projects are also evaluated according to the public benefits they achieve. This project
compliments several community policy goals in addition to achieving statutory obligations for
blight remediation.
City Plan, Principle EH 3 – The City will support local, unique, and creative businesses.
North College Urban Renewal Plan – this project will address the following blight
factors:
o Slum, deteriorated, or deteriorating structures;
o Unsanitary or unsafe conditions;
o Deterioration of site or other improvements;
o Environmental contamination of buildings or property; and
o Substantial physical underutilization or vacancy of sites, buildings, or other
improvements.
North College Corridor Plan, Goal LU 1.1 – Zoning, City actions, URA, and business
association efforts will assist with “high multiplier” uses that bring people and economic
activity, and add synergy with surrounding properties. Examples include 1) dwellings, 2)
stable living-wage jobs, 3) retail sales, and 4) attractions.
Economic Health Strategic Plan, Goal 1 – Business Support: Facilitate a stronger support
network for existing employers, new businesses, and small businesses.
In addition to achieving targeted redevelopment goals, this project is also a classic business
retention effort. Feeders Supply has operated in Fort Collins for 42 years and currently has six
full-time and 2 part-time employees. After this project is complete, they anticipate hiring one-
two additional employees.
Proposed Terms
After reviewing project costs submitted by the property owner, URA staff determined several
improvements that will assist with the remediation of blighted conditions on the property and are
eligible for TIF according to Colorado Urban Renewal Law, Colo. Rev. Stat. § 31-25-101 et seq.
The table below lists such costs and is followed by a summary of the proposed reimbursement
structure.
Eligible Cost Amount
% of Total
Increment
Site work/miscellaneous clean-up $3,600 2.3%
Abatement/demolition of existing building $8,750 5.5%
Site preparation (excavation/trenching) for new office building $10,350 6.5%
Landscape improvements $19,950 12.6%
Sidewalk improvements $18,900 11.9%
Total $61,550 38.9%
In accordance with recent URA financial parameters, the following TIF assistance structure is
proposed:
September 15, 2014
Assistance will be provided as a reimbursement upon project completion for $61,550 of
eligible costs.
The reimbursement will be paid over time based on actual tax increment collected from
the project.
The URA will pay 39% of the annual increment collected to the Developer each year,
until the $61,550 reimbursement obligation is paid in full or 2030, whichever occurs first
(proposed reimbursement schedule attached).
The Developer is required to design the new retail/office building to be eligible for
Designed to Earn the Energy Star (DEES) certification.
If the completed, operating building earns an Environmental Protection Agency (EPA)
rating of 75 or higher, the Developer will receive 1% of the total increment generated
($1,583.52) as a reward. This amount would be paid to the Developer in a lump sum,
provided the URA receives appropriate verification within two years after the project is
complete.
Next Steps
Based on input from the North College Citizen Advisory Group and the URA Finance
Committee, a Redevelopment Agreement would be drafted and finalized between the Developer
and URA. The full URA Board is currently scheduled to consider approval of the
Redevelopment Agreement on September 20, 2014.
ATTACHMENTS
1. Feeders Supply URA application
2. Estimate of value from Larimer County
3. Photos of existing site conditions
4. Site plan and renderings
5. Proposed reimbursement schedule
Executive Summary:
1) Please see attachment (Location Map)
2) Please see attachment (Site Plans/Drawings BEFORE and AFTER)
3) We propose continued use of 300 Hickory property as a light manufacturing/retail space that we
believe is relatively consistent with the previous tenant, Barton Supply. We plan to expand and
improve the existing facilities; including building on to the retail office, as well as resurfacing and
possibly adding on to the warehouse. We plan on adding trees, light landscaping putting up an
improved fence around the property and generally enhancing the curb appeal and overall
property appearance. Since the entire property is paved, we plan on simply repairing the cracks
and making the property as presentable as possible. We will do our best (and plan on) having all
storage inside and not viewable to the general public.
Most functions and activities currently conducted at Northern Colorado Feeders Supply, Inc. at
359 Linden St., Fort Collins, CO 80524 will be carried out at 300 Hickory. We plan on being good
neighbors and a positive feature to Fort Collins and the area.
4) See attachment
5) See Below
a. The nature of this project is summarized by the proposal above, but we are a long
standing business in the Fort Collins area and would like to continue. We plan on
improving the area significantly as it was abandoned and mistreated for a while.
b. TIF assistance is needed because much of the expense that is coming to us is in
order to get the property functional, including the abatement of the interior of the
current retail building, getting power to the entire property (getting rid of the old
Delta 3 transformers and putting in the city desired transformers) and possibly
improving storm water retention if needed. As well as the sidewalk improvements if
necessary.
c. We have some funds available from the 1031 Exchange we used from the sale of our
other building, however we would like to use as much of those funds as possible for
the improvements of the other buildings.
d. The project will help improve public infrastructure by the improvements to the
electric, and any storm water improvements that need to be made.
e. Since our customer base is quite large, we will be bringing multiple new people to
the area therefore increasing the sales tax in this area.
f. We
g. When we came to look at the property, it had been abandoned for almost a year
and was an absolute mess. The homeless had been living in the warehouse for the
duration of that time and it had become so disgusting we had to have it
professionally cleaned by SERVPRO. With the warehouse cleaned we are also
resurfacing the exterior in order for it to match the new retail office. We are also
planning on demolishing the current retail office (with asbestos) and re-erecting a
brand new building. The fences will also all be repaired and will no longer be in
pieces. We are planning on significantly cleaning up this property specifically, and
get our area as clean and perfected as Valley Steel and Wire.
h. The time table depends on what we need to do with the storm water and sidewalks,
as well as the power, however we are replacing the transformers in order to best
cooperate with the city preferences. The building and all other plans are scheduled
to be finished by Fall (hopefully mid to late July) 2014.
Feeder's Supply
Estimate Actual Cost
Office/Showroom
New Building (Pole, 2100 sq ft): 71,812 71,812
Interior:
Drywall 6,720
Concrete (Interior Slab+Exterior Slab/Sidewalk) 11,050
Plumbing 13,560
Electric/Power (Includes Fixtures) 26,000
Doors (Interior) 2,925
Carpentry (Labor) 21,000
Tile (Bathrooms, Counters, Wanescott) 2,600
Flooring (Carpet/Concrete Staining) 400
Cabinets (Retail Counter/Breakroom) 1,700
Insulation 10,350
Misc. (Allowance for Materials) 1,300
Mobillization 1,500
Rentals (Allowance: Sxr Lift/Materials) 2,000
Materials (Int. Walls/Mezzanane/Wanescott/Ladder) 13,000
Lighting Fixtures/Fans 2,500
Painting 8,500
Shower Enclosure
Heating/Air/Venting 35,200
Counter Tops 2,450
Exterior/Area:
Site Work (Misc. Clean Up) 3,600
Gutters 1,260
Excavation/Trenching/Backfill 10,350
Dump/Material Disposal (3 Large Containers) 4,040
Supervision 28,800
Old Building:
Abatement/Demo 8,750
Inspection for Aesbestos 1,480
Temporary Trailer Rental (3 months set up/take down) 5,015
Contractors Fee 33,116
Total 330,978 71,812
Warehouse
Gutters 1,710
Interior Clean Up (ServPro Hazardous Waste) 2,151
Interior Structual Improvements 41,422
Power to Lean-To 2,500
New Siding/Doors 23,216
Mill
Concrete 2,600
New Mixer/Storage Bins/Augers 91,824
Electrical 6,500
Floor Scale 3,108
Total 175,031 0
Property Improvement
Fencing 10,978
Landscaping:
Landscaping (Detailed) 19,950
Landscaping Arch Fees 4,650
Power (City) Replace Delta 3 Phase) 8,625
Power to Entire Property (Chadwick Service Charge) 20,000
Water
Sidewalk (City Sidewalk/Curb & Gutter) 18,900
Gas
Total 83,103 0
Total Assets 589,112 71,812
Northern Colorado Feeders Supply, Inc.
Existing Conditions at 300 Hickory Street
water vent
4" water vent
"fort collins water"
"fort collins water"
"gas riser"
"RR x-ing"
"RR x-ing"
open air structure on 4' stem wall
wood frame building on concrete
concrete
canopy over concrete
canopy over asphalt
center line union pacific railroad
53.51' Utility easement
per Exception Item No. 11
50.0' Waterline Easement
per Exception No. 20
20.0' Waterline Easement
per Exception No. 17
30.0' Approx.Track Easement
per Exception No. 14
concrete
asphalt
asphalt
asphalt
asphalt
asphalt
edge of asphalt
edge of gravel
edge of asphalt
REVISIONS
SHEET
CONTENTS
DRAWN
CHECKED
DATE
SHEET NO.
REUSE OF DOCUMENTS: THE IDEAS AND DESIGN INCORPORATED HEREON, AS AN INSTRUMENT OF PROFESSIONAL SERVICE, IS THE PROPERTY OF ARCHITECTURE
PLUS AND IS NOT TO BE USED FOR ANY OTHER PROJECT WITHOUT PRIOR WRITTEN AUTHORIZATION OF ARCHITECTURE PLUS
318 East Oak Street + Fort Collins 80524
1531 West 29th Street + Loveland 80538
970.493.1220 + 888.698.7897 + www.aplusarch.com
NORTHERN COLORADO
FEEDERS SUPPLY
08/26/14
KRB
BJC
ISSUE FOR PERMIT
300 HICKORY STREET
FORT COLLINS, COLORADO 80524
NO. BY DESCRIPTION DATE
1
SITE PLAN
Larimer County Estimation of Increment $10,556.80
Actual TIF @ Comp $10,556.80
Current Asking Amount $61,550.00
% of total TIF ask 38.9%
% of TIF Paid per year 39%
Total Amount to URA $ 96,802.00
TIF Collected Paid Amount Balance to Pay
2015
2016 $61,550.00
2017 $10,556.80 $4,106.60 $57,443.40
2018 10,556.80 4,106.60 53,336.81
2019 10,556.80 4,106.60 49,230.21
2020 10,556.80 4,106.60 45,123.62
2021 10,556.80 4,106.60 41,017.02
2022 10,556.80 4,106.60 36,910.43
2023 10,556.80 4,106.60 32,803.83
2024 10,556.80 4,106.60 28,697.24
2025 10,556.80 4,106.60 24,590.64
2026 10,556.80 4,106.60 20,484.05
2027 10,556.80 4,106.60 16,377.45
2028 10,556.80 4,106.60 12,270.86
2029 10,556.80 4,106.60 8,164.26
2030 10,556.80 4,106.60 4,057.67
2031 10,556.80 4,057.67 0.00
TOTAL $ 158,352.00 $61,550.00
Feeder Supply TIF Reimbursement Schedule
Total 0 0
Initial Property Purchase
Actaul Property Cost 467,500
Fees Associated with Purchase 7,000
Total 474,500 0
Fees.Permits.Drawings
JVA Civil Engineering Services 16,200
CAD Drawings (Arch Plus) 6,056 6,056
Arch Plans/Drawings for New Building 8,000 3,145
CTL Thompson (Soil Testing) 1,500 1,500
Beaudin Ganze One-Line Electrical Diag. 2,500 2,500
Property Apprasial 2,000
Permits & Fees (New Bdg, Mill, Misc.) 11,600
PLAT Survey/Topographic 7,850 7,850
Total 55,706 21,051
Grand Total Estimate: 1,119,318
12,000
14,000
16,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
2014 Actual 2014
Budget
2013
EXPENDITURE ANALYSIS:
OLD REPORT
0
500
1,000
1,500
2,000
2,500
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
2014 Actual 2014
Budget
2013
OLD REPORT
2014
Actual
2014
Budget
2013
0
200
400
600
800
1,000
1,200
1,400
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
2014
Actual
2014
Budget
2013
OLD REPORT
TOTALS $79,702 $73,336 $6,366
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
2014 Actual 2014
Budget
2013
OLD REPORT