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HomeMy WebLinkAboutJUEA Renewal_PresentationNov2019FINAL11/19/2019 1 Zone Renewal Request Signature Initiatives 1 2 11/19/2019 2 Select Historical Projects •Steamboat Days $25k •Clark County Museum $30k •Art Bike Racks $10k •Chestnut St. Arch Sign $32k •Pearl Street Sidewalks $36k •Vintage Fire Museum $26k •Eastern & Spring Remediation $50k •City Wayfinding Signage $105k •Flat12 Bierwerks Façade $12k •Main St Revitalization Grant $128K 2013 to 2015 LouVelo Bikeshare station system wide (of 32) #1 stations 3 3 4 11/19/2019 3 Spring Street Enhancement $300,000 •cost estimation •design •construction Jeff Main Street Inc. annual support $125,000 5 6 11/19/2019 4 City Partnerships•Big Four Station Park Maintenance & Security •Envision Center •Sidewalk reformat on Chestnut •Lighting on Pearl Street •Saving the 1915 Masonic Bldg. partial funding committed to many city initiatives Scholarships student scholarships 11 $115,000 2013 to now (8 semesters per student) 7 8 11/19/2019 5 Community Events Fresh Stop Produce Market Farm to Table & Progressive Dinner Clark County Cares Claysburg Days Steamboat Nights Women Empowering Women Neighborhoods Rose Hill Cherry Hill Port Fulton Park Place Franklin Commons Claysburg annual grants available to associations in the zone 9 10 11/19/2019 6 Real Estate Improvement Claysburg Front Porch Grant Real Estate Improvement Clark County Health Dept. 11 12 11/19/2019 7 Real Estate Improvement Steamboat Museum Carriage House Real Estate Improvement Silica Ceramic Studio 13 14 11/19/2019 8 Real Estate Improvement St. Paul’s Episcopal Church Tree Walk miles 1.5 trees 140 species 70 15 16 11/19/2019 9 General Ledger 2018 General Ledger Detail General Expenses $ Bank Charges $235.40 Insurance $3,331.12 1099 Contractors $16,375.00 Legal & Professional Services $26,002.08 Reimbursable Exp.$519.37 Office Supplies $82.09 Utilities $1,096.97 Total $47,122.66 Projects $ Equipment $131,703.93 Events $16,461.99 Jeff Main Street Inc.$105,837.35 Neighborhoods $10,122.00 Programming $10,000.00 Real Estate Improvements $102,917.03 Scholarships $15,000.00 Rent & Lease $15,600.00 Maintenance $68,916.12 Total $476,558.42 17 18 11/19/2019 10 2018 Financial Overview Revenues $ 2017 Carryover $420,026.60 Compliance Revenue $406,093.21 Interest Earned $1,953.03 Total $828,072.84 Expenses $ General Expenses $47,122.66 Projects $476,558.42 Total $523,681.08 Net Operating ACCRUAL BASIS Total Revenue (all)$828,072.84 Total Expenses 18 $523,681.08 End of Year $304,391.76 *Prior year funds kept organization in the black. Net Operating CASH BASIS Total Revenue 17-18 $408,046.24 Total Expenses 18 $523,681.08 End of Year ($115,634.84)* •Spend at least 65% of its total expenses on program activities. •“We want to verify that the money a charity spends is being used to fulfill its mission.” 476,558 523,681 Finance Standards Program Expenses Expenses $ General Expenses $47,122.66 Projects $476,558.42 Total $523,681.08 =91% exceed the standard! 19 20 11/19/2019 11 $523,681.08 $462,640.83 $221,476 $185,442 $185,442 $167,229 $167,229 $142,518 $141,529 $141,529 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 $500,000 $550,000 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Revenue Forecast 5 Year Renewal *Impact of Jeffboat Closure is a loss of $240,000 potential revenue stability if new projects occur* Governance 21 22 11/19/2019 12 Powers and duties of an urban enterprise association Sec. 14. (a) A U.E.A. shall do the following: (1) Coordinate zone development activities. (2) Serve as a catalyst for zone development. (3) Promote the zone to outside groups and individuals. (4) Establish a formal line of communication with residents and businesses in the zone. (5) Act as a liaison between residents, businesses, the municipality, and the board for any development activity that may affect the zone or zone residents. (IC 5-28-15-14) Governance Changes Bylaws Update Significant changes include: •Presentation to council annually •Financial Review every 2 years •Currently engaged in a financial review for 2017 & 2018 with MCM Ratified by Board on 11/13/19 •Documents available online in the future •Director is non-voting member & Chairperson may not be an elected official or candidate 23 24 11/19/2019 13 Benefits Loan Interest Credit Qualified Employee Deduction Investment Deduction Employee Expense Credit Businesses Lenders Residents 25 26 11/19/2019 14 We have seen an increase in lending to Zone businesses. City Employees and other downtown business employees benefit. Increased expansions and new business attraction continues. Businesses Lenders Residents EZB-R Schedule LIC IT-40QEC Extension Request Jan. 2020 –Dec. 2024 27 28