HomeMy WebLinkAboutURD Finance Report 6-30-20 FINALDowntown URD FY20 Final Year-End Finance Report
Category
FY2020 FINAL
Budget
FY2020 Year
End
Income
Starting Cash Balance 2,145,000 2,145,000
Income from TIF 430,000 819,836 1
COB Interlocal Share 875,000 865,414 Entitlement Share State of Montana 45,000 56,050
Interest Income 14,000 62,198 Other Income 0 3,338 Total Income 3,509,000$ 3,951,836$
Expenses OperationsManagement Fee and Administration 120,000 120,000
URD Management Contract/Employee 42,000 42,000 Total Operations 162,000$ 162,000
Infrastructure Improvements
Street Furniture and Park Maintenance 10,000 8,436 North Black Pocket Park Construction 10,000 13,000
Streetscape--new purchases 25,000 31,509
North Rouse Streetscape ProjectStreetlamps (26 qty)85,000 -
Tree Frames/Grates (24 qty)35,000 - Streetscape Assistance Grant Program 50,000 - Streetlamp Power Reconfiguration Project 250,000 -
Alley Improvement Program 25,000 2,503 Public Parking Improvements 250,000 250,000
Life-Safety Grant Program 50,000 8,697 Fiber Infrastructure--Lamme Carry-Over 90,000 81,709 Fiber-Broadband Infrastructure--Grants 10,000 1,050
Alternative Transportation Project 25,000 - Total Improvements 915,000$ 396,904$
PlanningCity Economic Development Technician 22,470 2,255
Technical Assistance Grants 50,000 18,000 FY19 Encumbered Funds 7,500 7,500 Residential Incentive Program 200,000
Armory Hotel Incentive Encumbered Funds 100,000 DBIP: Transportation Planning 200,000 1,278
DBIP: Code Amendments 50,000 DBIP: Design Guidelines 50,000
DBIP: General Implementation 75,000 17,750 SILD & Streetscape Engineering 25,000
Structured Parking Feasibility Analysis 25,000
South Wallace Asbestos Project 75,000 Professional Services Term Contract 75,000
Streetscape Preliminary Engineering 25,000 19,959 Sewer Capacity and Buildout Analysis 15,000
Total Planning 994,970$ 66,742$
Parking Structure
Garage Bond Refinancing Fees 400,938 1Garage Bond Payment 430,000 418,898 Total Parking Garage Payments 430,000$ 819,836$
Total Expenses 2,501,970$ 1,445,482$
Balance 1,007,030$ 2,506,354$
1
DOWNTOWN URBAN RENEWAL DISTRICT
When we refinanced the TIF bond, the Downtown TIF paid $400,938.62 in cash for the difference between the cost of
purchasing the old bonds, the fiscal agent fees for the refinancing, and the proceeds of selling the new bonds. This is a one-
time expenditure related to the refinancing.
URD Finance Report 6-30-20 FINAL