 stand is joining the Pledge of Allegiance. In the people online please say that to yourself. I pledge allegiance to the flag of the United States of America and to the Republic for which it stands one nation under God indivisible with liberty and justice for all. Next item on the agenda is election of a chairperson. May Randerstein be the chairperson. Is there a second? Second that. Thank you, Roberta. Any other nominations? Are there any other nominations? Are there any other nominations? With that, I do accept. All those. I move that the unanimous ballot be declared for Mayor Randerstein. Is there a second? Second. Very good. Thank you. All those in favor please signify by saying aye. Aye. Opposed? Motion passes. Next we'll go on to election of a vice chairperson. Nominations are open. Kaye, Roger or Roberta, which one want to be it? I nominate Roger to be vice chair. Thank you. I'll second that. Are there any other nominations? Are there any other nominations? Are there any other nominations? Then I'll look for a motion. Roger be nominated and a unanimous ballot be cast for in favor. Thank you very much. I'll second that. All those in favor please signify by saying aye. Aye. Opposed? Motion passes. Now next we'll have a review of tax incremental districts 6, 10, 11, 12, 13, 14, 15, 16 and reports on the status and performance. Chad, is this yours? Sure. So attached to the document that was on board docs is the spreadsheet of the annual reports of the TIP districts. And thank you. And Roberta, I'm guessing you have this in front of you? I don't. Okay, so we'll go through. Can we put it up? Can you put it up? On the clerk's computer? Okay. We'll get it up on the screen. Just give us a minute. So every year we're required to convene the joint review board and give you guys an update of the status of our TIP districts before we file the necessary documents with the Department of Revenue effective July 1st. So we will run through this end of the year 2019 TID report and kind of tag team the information on here between myself and Marty Helverson, the city finance director. So I'm sorry Roberta, but the computer is not loading. It looks like it's on. This looks like you're getting a signal to it. Yeah, these are usually always left side. Well anyway, we'll run you through the numbers and then if you've got anything else Roberta, we can address it. So the first TIF district is... Oh, before we go on, we missed the approval of the minutes. I accept a motion to approve the minutes of our last meeting. I'll move for approval. Is there a second? I'll second that. Second. Thank you Roberta. Is there any discussion on the minutes? Seeing none, all those in favor please signify by saying aye. Aye. Aye. The minutes stand approved. Now you can proceed. Thank you. So the first district we're going to look at is TID 6, which is made up primarily of what we would call the Marina and South Pierce. So it's kind of the lakefront area. You can see that the district, actually the termination date of the district is coming up on January 20th of 2023. We started 2019 with the beginning fund balance of right around $500,000. The total expenditures for the district was roughly $1.3 million. Revenues $1.5 million. So we ended the year with about $248,000 to the good. And the fund balance of that district right now is about $750,000. So the idea here is that this district ultimately in the next three years should close out in the positive. And this is the oldest district we had in our books. I think it's almost 33 years that it's been opened. So is there any questions on that? Hearing none, moving along the next district, district 10 is the Water Street district. That's an area primarily made up of the Kingsbury apartments that's under construction today and the Garten Toy factory. The area that used to be defined as the very fine area and the Kingsbury Brewery. That district is to close on May 19th of 2024. The beginning fund balance is a negative of $370,000. However, with the new increment from the Kingsbury apartments that are going up, the hope is that it will, that'll be the last piece to kind of make this thing out of the red and into the black. So at the end of the year, it had a fund balance of roughly $90,000. The next one, Washington Square, is TIT 11. We just, the council approved on April 15th of 2020 a termination resolution for this district. So this district will be closing as of the end of the year 1231-2020. You can see from the bottom that it has a fund balance of roughly $2.6 million, which will be paid back to the taxing jurisdictions based on their proportionate part of the tax bill and final audited statements. So once our auditor finishes the audits, then that'll be divided up and payments will go back to the, to the taxing jurisdictions based on what's in that fund balance. TIT 12, the Niagara Avenue. This is the, the former Nemshoff office building in the Grand State area for the district. That district terminates in 2027. The beginning fund balance is right around $350,000. It added, or subtracted $1735, but it still has a positive fund balance of $339,956. TID 13 is Landmark Square and the Founders Club. That district is open until 2032. It had a beginning fund balance around $220,000. After revenues and expenditures, the current fund balance is right around the same, $221,616. TID 14, Taylor Heights Festival Foods, and now Meyer is the district that's been expanded for the new store of Meyer and Panera. That's got a termination date of 2031. The beginning fund balance was right around $450,000. After expenditures and revenues, the fund balance went up a little bit to $462,608 for positive cash flow. Pick and Save, TID 15. That's primarily the area around the, the now vacant Pick and Save on South Business Drive. That district closes in 2031. It had a beginning fund balance of $158,000. After the increment, it still has a positive fund balance of around $341,000. A Street is the next one TID 16, so this is primarily an area from the Wild Center along A Street down to the Bridge, the A Street Bridge, and then a little bit east and west of there. That district was created for facilitating some downtown housing developments that are under, are completed today. So it has a termination date of 2035. Going into the year, it had a deficit of $820,000. With the increment in the revenues, it had additional deficit of $219,000. So it's got a deficit currently of $1,040,000 to be expected because, as you'll recall, the first three, the first two housing developments on core and high point, the city gave upfront TIF incentives to that. So we borrowed money to pay them out versus our typical pays you go where the developer pays your tax bill and then we would give them portions back. So we've got some borrowing dollars on there as well as given that it's our central commercial district in the downtown revitalization that's been happening. Some of the projects related to the Mead public library, beautification, new street lighting, those types of things are coming out of this district. So it's a big number that's in the deficit but over time the goal would be to, the increment would increase and it would pave down that debt. TID 17 is a newer district. It was created in 2018, Indiana Avenue for the Innovation District, primarily from the lake to 14th Street. It'll close in 2045. It started out with a fund balance in the negative of 41,800. At the end of 2019, it added about 3.8 million of revenue so the current fund balance is about 3.815 million but I would say that although that looks wonderful, we do just took out some infrastructure improvement debt for around the Badger State Lofts of about four million dollars. So we'll have some debt payments to be made and but we'll also have some increment coming in from the Badger State Lofts and those the condo projects that's under construction on the entrance to Salt Pier. So, you know, this thing will fluctuate with some investments in it as we go but as of the end of 2019 it was a positive. Next one is the Salt Point Enterprise Campus TID 18. This is the expansion of the city's business park on South Business Driver County Highway. Okay. The beginning fund balance was right around four million. After expenses and revenues, we have a deficit about 4.9 million so the fund balance at the end of the year is right around a deficit of 869,000. I will say that number is actually more because we've got a borrowing mechanism out there for 11 million dollars known as a NAN that will have to be figured out what's going to be done with that I think in 2022 2023 for the construction of that project but we've also got some increment coming in from the first project with FedEx which generated about 7.7 million of new investment or around 200,000 of taxes so we're hoping that that and if we could get one or two other projects in that park we probably would be able to at least make our debt payment and move forward with that but it was a big investment of almost 15 million dollars to build it. It's not obviously going to sell overnight but you know we were hoping that we were going to pick up some steam and get some development in there and then COVID hit so we'll have to see where we go from there. The next district Riverbentid 19 that's the area around the boat doctors Richardson lumber redevelopment and the waters edge condos so that district was created in 2018 it closes in 2038 the beginning fund balance is right around a deficit of 362,000 we closed the year with a deficit of 361,000 but it doesn't include the new increment that we've seen from the LTC waters edge first phase and the Dalmous State core so we see that this district should be fine. This district in going in the future probably will be expanded to include the redevelopment of the May line site so we'll be probably talking about that either later on in 2020 or early 2021. We did create another district that's not on here because these numbers are effective of 2019 but TID 20 was created by the council in March of 2020 and it includes the Vandervaart property so you'll be seeing that one coming forward as that redevelopment happens and then the north gate the last one on the page is an environmental TIF district that was put in place to build the Piggly Wiggly on the north side of the city that one closes in 2025 it does have a 214,000 deficit this might be one that's never going to come out of the hole because we don't have any means of sharing increment or doing anything more with this so we'll have to see where that ultimately ends up at the close out of that district so that's it in a nutshell if anybody has any questions I'd be happy to answer them. Any questions? Yes I eat Roger. The one that piqued my interest was the let's see number six that's Washington Square one I believe number 11 and that will expire in 21 with a positive balance and that will be extra will be paid out to the municipalities correct and that would be in the calendar year 21 so that I'm just wondering for our budgeting purposes. When will the payout happen? We will do the payout following the well the payout will take place after the audit for the there's a TID audit to close it and that is going to take place in calendar 2020 our anticipated time frame is around September October right now if that gets finalized then we would make the payment then right away in 2020. Excellent I just would be curious to know that that dollars and if you would correspond with the the treasurer or our finance director that would be helpful for our I think Daryl or the mayor has already given a rough number to Adam yeah it's roughly around five hundred thousand dollars excellent you're way ahead of me thank you. Any other questions? Seeing none I'd accept the motion to accept the report. Support. Thank you for that motion and support. All those in favor please signify by saying aye. Aye. Okay then we'll move on to adjournment accept the motion to adjourn. So moved. Is there support? I'll second that. All those in favor please signify by saying aye. Aye. Aye. We stand adjourned thank you for your time tonight.