On the agenda: St Joseph meeting — Data Center (Jun 16)

St. Joseph Economic Development Authority
Tuesday, June 16th, 2026
12:00 PM
75 Callaway St E (St. Joseph City Hall)
** The meeting will also be offered remotely via Zoom**
1. Call to order
2. Public Comments
3. Approve Agenda
4. Consent Agenda
a. TIF Reports
b. Financial Report – May
c. Minutes - May 19th, 2026
5. REV Community Application update
6. Connecting Entrepreneurial Communities Conference
update
7. General Business updates and 2027 budget update
8. Board Member Announcements

Zoom Meeting Information

Join Zoom Meeting
https://us06web.zoom.us/j/82698897944?pwd=b1RaeE5IenZ0L0Z0ejF4UWhvWUVidz09
Meeting ID: 826 9889 7944
Passcode: 725385

1

May 19th, 2026

Page 1 of 2

Pursuant to due call and notice thereof, the St. Joseph Economic Development Authority met on
Tuesday, May 19th, 2026 at 12:00 PM.
Members Present: Board Members Joe Bye, Larry Hosch, Kevin Kluesner, Ross Huls, Kelly Beniek
Members Absent:
City Representatives Present: Nate Keller Community Development Director
Hosch called the St. Joseph Economic Development Authority meeting to order at 12:00 PM
Public Comments: None
Agenda Approval: Kluesner made a motion to approve the agenda; seconded by Beniek and
passed unanimously by those present.
Consent Agenda:
Kluesner made a motion to approve the consent agenda; seconded by Beniek and passed
unanimously by those present.
a. Financial Report April
Revolving Loan Fund Application
Request for $60k RLF fund has been applied for by Krewe and Flower and Flour. Applicants are seeking
gap financing in order to purchase the buildings and suites they occupy. The EDA Finance Team met on
May 18th and recommended approval of the request subject to the following conditions: land use
approvals shall occur to re-plat the land as a CIC plat, applicants shall be organized into a real estate
holding company and the loan shall be executed to the same holding company as the principal lenders,
personal guarantees shall be recorded against the mortgage or home residence, 3% interest rate.
EDA Board had discussion that centered around: appropriate loan terms, past loans, history, revolving
loan fund balance, doing one loan or two separate loans for the request, program guidelines specifically
the $40,000 guideline and more.
Kluesner made a motion to approve the RLF application in the requested amount of $60,000 at a
ten-year loan term and at 3% interest rate with the reason being that the nature of the loan
although exceeding the $40k guideline is for two businesses and is a joint application; seconded
by Beniek and passed unanimously by those present.
REV Community Application
Keller provided an update to the Board that an application has been submitted for this program. A goal
would be to strengthen the entrepreneurship support system and create an aligned long-term vision
across the various partners in the community. Keller noted that he has recruited individuals to be a part of
this group and should the community be selected, he would like the group to help decide the focus areas.
The individuals represent a wide array of entities including: business owners, resident, EDA Board,
industrial property owners, downtown property owners, CSB/SJU professors, and more.
2027 budget discussion and CVB Preliminary Ideas
Preliminary ideas for 2027 budget were highlighted by Keller and included a housing beautification and
rental excellence award. EDA Board thought the ideas were worth exploring further.
Keller recapped ideas discussed by CVB which included: Billboard advertisement campaign, specific
marketing and promotions to the community which target CSB/SJU students and faculty, and a new
promotional video which could be developed as part of the CEC conference promotions but live on after
as a means to promote the city.
Connecting Entrepreneurial Communities Conference update
Keller shared an update on the CEC sessions, conference schedule, and logistics information.

May 19th, 2026

Page 2 of 2

General Business updates
Updates provided on: Potential Moratorium on Data Centers and Multi-family, Rural Residential
Ordinance, Boutique Hotel meeting, CVB meetings going to once a year and as needed, Cannabis
Cultivators, Woodcrest expansion, Joetown apartments Phase 2, Local business expansion.
Board member announcements
None
Adjourn: Bye made a motion to adjourn the meeting at 1:02PM, seconded by Beniek and passed
unanimously by those present.
Minutes by:

Nate Keller
Community Development Director

EDA Agenda Items 5-7

MEETING DATE:
June 16th, 2026
AGENDA ITEMS:
PREVIOUS BOARD ACTION:
5 – updates only
6 – updates only
7 – input on some of the 2027 budget items occurred last mont
BACKGROUND INFORMATION:

5 – REV Community Application update

St. Joseph was not selected for this program. Staff will provide more background at the meeting as to the
reasons why (overqualified � )

6 – Connecting Entrepreneurial Communities Conference Update

The local planning team met on February 12th, and an update will be provided in regards to
breakout session topics, speakers, etc. A print out of the Conference will be provided at the
meeting. The conference website is also available here:
https://sites.google.com/umn.edu/entrepreneurial-communities-mn

7 – General Business updates and 2027 budget update

Verbal updates will be provided on Boutique hotel, housing, Small Cities Grant kickoff meeting, RLF
grant application, and items discussed last month in regard to budget ideas.
BUDGET/FISCAL IMPACT:
5 – N/A
6 –TBD
7 – TBD on budget items
ATTACHMENTS: none
REQUESTED BOARD ACTION:
5 – none just informational
6 – none just informational
7 – none just informational

2

STAFF MEMO

Prepared by:
Lori Bartlett

Meeting Date: ☒ Consent Agenda Item
6-16-2026
☐ Regular Agenda Item

Reviewed by:

Item:
May Treasurer’s Report

Council Priority: ☐ Dispensary ☐ Industrial Park Expansion
☐ Public Safety Facility/Safe Crossing of CSAH 75 ☒ N/A

Agenda Item #
4b

☐ Housing

ACTION REQUESTED
Consider acceptance of the treasurer’s reports through May 2026.
BOARD/COMMISSION/COMMITTEE/COUNCIL RECOMMENDATION

Council approved CMHP to administer the housing rehab grant the city received in 2025. Projects are
anticipated to begin in 2026. Council adopted the 2026 budget on December 1, 2025.

PREVIOUS EDA ACTION

EDA approved two façade grants; waiting to be reimbursed.

REFERENCE AND BACKGROUND

Enclosed you will find the reconciled financial reports through May 31, 2026.
The EDA fund balance on May 31, 2026, is $70,286. Of this amount, $76,221 is set aside for EDA program
expenditures. This leaves an undesignated deficit of $5,935. The EDA is mainly funded with property
taxes. The taxes are received in summer and December. The designated balance is for capital
programming that may not be expended in 2026.
The CVB is mainly funded with lodging tax. Rodeway Inn paid their arrears in early May. All locations,
including short-term rentals, are compliant with their tax remittances yielding $2,638 through May.
The other funds reported include the TIF funds, Lodging Tax, DEED CDAP Housing Grant reimbursement
and the Revolving Loan fund. The TIF funds are all in the positive fund balance. The 2025 TIF reporting
summary is provided on a separate agenda item. The rehab grants have a balance of $61,377 for EDA
costs to administer the new grant. There are two revolving loans outstanding to Krewe and Flour to
Flower Bakery; and the St. Joseph Food Co-Op (MN Street Market). Both loans are current and pay
monthly payments on time.

BUDGET IMPACT
Information only
STAFF RECOMMENDED ACTION
Accept the treasurer’s reports through May 2026.
SUPPORTING DATA/ATTACHMENTS

Financial Summaries – EDA Funds

3

St. Joseph Economic Development Authority
Summary Treasurer's Report - Fund 250
May 31, 2026
Fund 250, EDA Balance as of December 31, 2025 (Audited)
Year to Date Revenue:
Interest Earnings
TIF/MIF Deposit/Fee - Hansen & Co.
State of Minnesota Grant
Abatement Reimbursement (School District)
Ad Valorem Taxes
Total Revenue

106,134.81
2025 Actual
4,967
9,382
231,039
245,388

Budget 2026
2,000
9,385
235,805
247,190

YTD Actual 2026
40.36
-

1,080
56,695
2,612
3,013
1,794
166
109,192
1,063
3,063
80,000
258,679

1,200
63,545
2,835
8,400
1,380
5,000
330
600
143,500
3,000
400
17,000
247,190

240.00
24,760.45
1,902.44
201.79
2,662.50
787.20
5,000.00
335.00
-

Year to Date Expenditures by Object:
Board Stipends
Staff Salaries/Training
Software Support/Office Supplies/Postage
Repairs and Maintenance
Professional Services
Telephone
Greater St. Cloud Development Investment
Dues and Memberships (Other)
Advertising/Marketing
Abatement Payments (Country Manor/Trobec's)
Community Programs
Computers
EDA Programs
Transfer to Other Funds
Total Expenses

40.36

(35,889.38)

Fund Summaries as of May 31, 2026 (unaudited):
EDA Net Position - Fund 250 - (unaudited), cash balance

70,285.79
76,220.60
(5,934.81)

Designated for Capital Programs
Undesignated
TIF 4-1 Fortitude Senior Apts Balance - Fund 253
TIF 2-1 Millstream Shops and Lofts Balance - Fund 257
TIF 2-3 Bayou Blues & Alley Flats Balance - Fund 259
Lodging Tax Balance - Fund 220
DEED CDAP Housing Grant Balance - Fund 225
Revolving Loan Balance - Fund 251
Designated for Revolving Loan Program
Designated for Economic Development

45,513.36
51,762.44
2,369.92
39,168.57
61,376.58
689,043.37
141,989.46
547,053.91

4

CITYOFSTJOSEPH
BALANCESHEET
MAY31,2026

FUND 220 - CVB
ASSETS
220-10199CASH39,
TOTAL

168.57

ASSETS39,

168.57

LIABILITIES AND EQUITY

FUND EQUITY
220-25310UNASSIGNED

FUND BALANCE42, 486.86

REVENUE OVER EXPENDITURES - YTD(
TOTAL
TOTAL

FUND

LIABILITIES

3,318.29)
EQUITY39,

168.57

AND EQUITY39, 168.57

5

CITY OF ST JOSEPH
REVENUES WITH COMPARISON TO BUDGET
FOR THE 5MONTHS ENDING MAY 31, 2026
CVB
PRIOR YTD AMOUNTYTD

ECONOMIC DEVELOPMENT

BUDGETBUDGETUNEXPENDEDPCNT

AUTHORI

220-46500- 31600LODGING

TAX626. 392,638.3612,300.0012,300.009,661.6421.5

220-46500- 34409MARKETING37.
220-46500- 36210INTEREST

ACTUALORIGINAL

EARNINGS318.

TOTAL ECONOMIC DEVELOPMENT

A

99(

50256. 251,000.001,000.00743. 7525.6
73.95)

525.00525. 00598. 95(

14.1)

982.882,820.6613,825.0013,825.0011,004.3420.4

OTHER FINANCING SOURCES
220-49302- 39201TRANSFERS

FROM OTHER FUNDS10, 000.00.

00.

00.

00.

00.

0

TOTAL OTHER FINANCING SOURCES10, 000.00.

00.

00.

00.

00.

0

TOTAL FUND REVENUE10,

FOR ADMINISTRATION

USE ONLY41 %

982.882,820.6613,825.0013,825.0011,004.3420.4

OF THE FISCAL YEAR HAS ELAPSED06/ 09/2026

6

11:14AM

PAGE: 11

CITY OF ST JOSEPH
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 5MONTHS ENDING MAY 31, 2026
CVB
PRIOR YTD AMOUNTYTD

ECONOMIC DEVELOPMENT

ACTUALORIGINAL

BUDGETBUDGETUNEXPENDEDPCNT

AUTHORI

220-46500- 208VISITORS BUREAU PRIZES.

00.

00200. 00200. 00200. 00.

0

220-46500- 209VISITORS BUREAU MERCHANDISE.

00.

001,000.001,000.001,000.00.

0

220-46500- 300PROFESSIONAL

SERVICES3, 750.003,750.009,000.009,000.005,250.0041.7

220-46500- 308COMMUNITY PROGRAMS.

00.

001,200.001,200.001,200.00.

220-46500- 310IT SERVICES296.
TOTAL ECONOMIC DEVELOPMENT

A

4,
046.004,046.0011,820.0011,820.007,774.0034.2

TOTAL FUND EXPENDITURES4,

NET REVENUE OVER EXPENDITURES6,

FOR ADMINISTRATION

USE ONLY41 %

0

00296. 00420. 00420. 00124. 0070.5

936.88(

046.004,046.0011,820.0011,820.007,774.0034.2

1,225.34)

2,
005.002,005.003,230.34(

OF THE FISCAL YEAR HAS ELAPSED06/ 09/2026

7

61.1)

11:14AM

PAGE: 12

CITYOFSTJOSEPH
BALANCESHEET
MAY31,2026

FUND 225 - DEED CDAP HOUSING GRANTS
ASSETS
225-10199CASH61,
TOTAL

376.58

ASSETS61,

376.58

LIABILITIES AND EQUITY

FUND EQUITY
225-25310UNASSIGNED

FUND BALANCE61, 482.60

REVENUE OVER EXPENDITURES - YTD(
TOTAL
TOTAL

FUND

LIABILITIES

106.02)
EQUITY61,

376.58

AND EQUITY61, 376.58

8

CITY OF ST JOSEPH
REVENUES WITH COMPARISON TO BUDGET
FOR THE 5MONTHS ENDING MAY 31, 2026
DEED CDAP HOUSING GRANTS
PRIOR YTD AMOUNTYTD

ECONOMIC DEVELOPMENT
225-46500- 36210INTEREST

BUDGETBUDGETUNEXPENDEDPCNT

AUTHORI
EARNINGS801.

TOTAL ECONOMIC DEVELOPMENT

A

TOTAL FUND REVENUE801.

FOR ADMINISTRATION

ACTUALORIGINAL

USE ONLY41 %

62(

106.02)

1,
575.001,575.001,681.02(

6.7)

801.62(

106.02)

1,
575.001,575.001,681.02(

6.7)

62(

106.02)

1,
575.001,575.001,681.02(

6.7)

OF THE FISCAL YEAR HAS ELAPSED06/ 09/2026

9

11:14AM

PAGE: 13

CITY OF ST JOSEPH
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 5MONTHS ENDING MAY 31, 2026
DEED CDAP HOUSING GRANTS
PRIOR YTD AMOUNTYTD

ECONOMIC DEVELOPMENT
225-46500- 300PROFESSIONAL

BUDGETBUDGETUNEXPENDEDPCNT

AUTHORI

SERVICES.

TOTAL ECONOMIC DEVELOPMENT

A

TOTAL FUND EXPENDITURES.

NET REVENUE OVER EXPENDITURES801.

FOR ADMINISTRATION

ACTUALORIGINAL

USE ONLY41 %

00.

002,000.002,000.002,000.00.

0

00.

002,000.002,000.002,000.00.

0

00.

002,000.002,000.002,000.00.

0

62(

106.02)(

425.00)(

425.00)(

OF THE FISCAL YEAR HAS ELAPSED06/ 09/2026

10

318.98)(

25.0)

11:14AM

PAGE: 14

CITYOFSTJOSEPH
BALANCESHEET
MAY31,2026

FUND 250 - EDA
ASSETS
250-10199CASH70,
TOTAL

285.79

ASSETS70,

285.79

LIABILITIES AND EQUITY

FUND EQUITY
250-25310UNASSIGNED

FUND BALANCE106,

REVENUE OVER EXPENDITURES - YTD(
TOTAL
TOTAL

FUND

LIABILITIES

134.81
35,849.02)

EQUITY70,

285.79

AND EQUITY70, 285.79

11

CITY OF ST JOSEPH
REVENUES WITH COMPARISON TO BUDGET
FOR THE 5MONTHS ENDING MAY 31, 2026
EDA
PRIOR YTD AMOUNTYTD

ECONOMIC DEVELOPMENT

ACTUALORIGINAL

BUDGETBUDGETUNEXPENDEDPCNT

AUTHORI

250-46500- 31010CURRENT AD VALOREM TAXES.

00.

250-46500- 36210INTEREST

EARNINGS1,

250-46500- 36301TAX ABATEMENT REIMBURSEMENT.

0

009,385.009,385.009,385.00.

0

1,
544.4040.36247, 190.00247, 190.00247, 149.64.

0

TOTAL FUND REVENUE1, 544.4040.36247, 190.00247, 190.00247, 149.64.

0

TOTAL ECONOMIC DEVELOPMENT

FOR ADMINISTRATION

00.

00235, 805.00235, 805.00235, 805.00.
544.4040.362,000.002,000.001,959.642.0

A

USE ONLY41 %

OF THE FISCAL YEAR HAS ELAPSED06/ 09/2026

12

11:14AM

PAGE: 15

CITY OF ST JOSEPH
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 5MONTHS ENDING MAY 31, 2026
EDA
PRIOR YTD AMOUNTYTD

ECONOMIC DEVELOPMENT

ACTUALORIGINAL

BUDGETBUDGETUNEXPENDEDPCNT

AUTHORI

250-46500- 101EDA

SALARIES17,

122.8018,432.8146,050.0046,050.0027,617.1940.0

250-46500- 103EDA

LEGISLATIVE

BODIES320. 00240. 001,200.001,200.00960. 0020.0

250-46500- 120MN PAID LEAVE.

00105. 80295. 00295. 00189. 2035.9

250-46500- 121PERA

CONTRIBUTIONS1,

284.201,218.313,455.003,455.002,236.6935.3

250-46500- 122FICA

CONTRIBUTIONS1,

301.081,187.702,650.002,650.001,462.3044.8

250-46500- 123DEFERRED

COMP- EMPLOYER96.

250-46500- 125MEDICARE CONTRIBUTIONS.

00.

250-46500- 130H S A- EMPLOYER
250-46500- 131HEALTH

CONTRIBUTION420.

INSURANCE2,

25175. 00230. 00230. 0055.0076.1

00620. 00620. 00620. 00.
438.602,462.247,560.007,560.005,097.7632.6

250-46500- 132DENTAL

INSURANCE160.

80144. 72520. 00520. 00375. 2827.8

250-46500- 133LIFE

INSURANCE11.

659.3230.0030.0020.6831.1

250-46500- 134DISABILTY

0

00437. 50840. 00840. 00402. 5052.1

INSURANCE135.

6095.96450. 00450. 00354. 0421.3

250-46500- 151WORKERS COMP. INSUR. PREM..

00.

00125. 00125. 00125. 00.

250-46500- 171CLOTHING ALLOWANCE.

00.

0020.0020.0020.00.

0

250-46500-200OFFICE SUPPLIES.

00.

0050.0050.0050.00.

0

250-46500- 220REPAIR AND MAINTENANCE.

00201. 79.

250-46500- 300PROFESSIONAL

002,250.007,200.007,200.004,950.0031.3

250-46500- 303ENGINEERING

SERVICES.
FEE.

00.

250-46500- 304LEGAL FEES.

00.

00(

201.79).

00500. 00500. 00500. 00.

0

0
0

00412. 50700. 00700. 00287. 5058.9

250-46500- 308COMMUNITY PROGRAMS.

00.

250-46500- 310SOFTWARE
TOTAL ECONOMIC DEVELOPMENT

003,000.003,000.003,000.00.

0

SUPPORT1, 716.141,902.442,785.002,785.00882. 5668.3

A

25,007.1229,276.0978,280.0078,280.0049,003.9137.4

OTHER FINANCING USES
250-49300- 720TRANSFERS

TO OTHER FUNDS10, 000.00.

00.

00.

00.

00.

0

TOTAL OTHER FINANCING USES10, 000.00.

00.

00.

00.

00.

0

FOR ADMINISTRATION

USE ONLY41 %

OF THE FISCAL YEAR HAS ELAPSED06/ 09/2026

13

11:14AM

PAGE: 16

CITY OF ST JOSEPH
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 5MONTHS ENDING MAY 31, 2026
EDA
PRIOR YTD AMOUNTYTD

TOTAL FUND EXPENDITURES35,

NET REVENUE OVER EXPENDITURES(

FOR ADMINISTRATION

USE ONLY41 %

33,462.72)(

ACTUALORIGINAL

BUDGETBUDGETUNEXPENDEDPCNT

007.1229,276.0978,280.0078,280.0049,003.9137.4

29,235.73)

168,910.00168, 910.00198, 145.73(

OF THE FISCAL YEAR HAS ELAPSED06/ 09/2026

14

17.3)

11:14AM

PAGE: 17

CITYOFSTJOSEPH
BALANCESHEET
MAY31,2026

FUND 251 - REVOLVING LOAN FUND
ASSETS
251-10199CASH689,
TOTAL

043.37

ASSETS689,

043.37

LIABILITIES AND EQUITY

FUND EQUITY
251-24415DESIGN.

FD BAL - OPERATIONS477,

251-25310UNASSIGNED
REVENUE

OVER EXPENDITURES -

TOTAL
TOTAL

FUND BALANCE194,

FUND

LIABILITIES

053.91
711.86

YTD17, 277.60

EQUITY689,

043.37

AND EQUITY689,

15

043.37

CITY OF ST JOSEPH
REVENUES WITH COMPARISON TO BUDGET
FOR THE 5MONTHS ENDING MAY 31, 2026
REVOLVING LOAN FUND
PRIOR YTD AMOUNTYTD

ACTUALORIGINAL

BUDGETBUDGETUNEXPENDEDPCNT

EDA
251-46500- 36210INTEREST
251-46500- 36320LOAN

EARNINGS7, 882.86(

251-46500- 36321LOAN
TOTAL

INTEREST291.

5,
500.005,500.006,513.86(
6,227.46)

18.4)
152.3

32164. 00390. 00390. 00226. 0042.1

EDA13, 860.1017,277.6017,790.0017,790.00512. 4097.1

TOTAL FUND REVENUE13,

FOR ADMINISTRATION

1,013.86)

PRINCIPAL5, 685.9218,127.4611,900.0011,900.00(

USE ONLY41 %

860.1017,277.6017,790.0017,790.00512. 4097.1

OF THE FISCAL YEAR HAS ELAPSED06/ 09/2026

16

11:14AM

PAGE: 18

CITY OF ST JOSEPH
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 5MONTHS ENDING MAY 31, 2026
REVOLVING LOAN FUND
PRIOR YTD AMOUNTYTD

ACTUALORIGINAL

BUDGETBUDGETUNEXPENDEDPCNT

EDA
251-46500- 300PROFESSIONAL
TOTAL

SERVICES1, 750.00.

002,000.002,000.002,000.00.

0

EDA1, 750.00.

002,000.002,000.002,000.00.

0

002,000.002,000.002,000.00.

0

TOTAL FUND EXPENDITURES1,

NET REVENUE

FOR ADMINISTRATION

750.00.

OVER EXPENDITURES12,

USE ONLY41 %

110.1017,277.6015,790.0015,790.00(

OF THE FISCAL YEAR HAS ELAPSED06/ 09/2026

17

1,487.60)

109.4

11:14AM

PAGE: 19

CITYOFSTJOSEPH
BALANCESHEET
MAY31,2026

FUND 253 -TIF4-1 FORTITUDE SENIOR APTS
ASSETS
253-10199CASH45,
TOTAL

513.36

ASSETS45,

513.36

LIABILITIES AND EQUITY

FUND EQUITY
253-25310UNASSIGNED

FUND BALANCE45, 585.12

REVENUE OVER EXPENDITURES - YTD(
TOTAL
TOTAL

FUND

LIABILITIES

71.76)
EQUITY45,

513.36

AND EQUITY45, 513.36

18

CITY OF ST JOSEPH
REVENUES WITH COMPARISON TO BUDGET
FOR THE 5MONTHS ENDING MAY 31, 2026
TIF 4-1FORTITUDE SENIOR APTS
PRIOR YTD AMOUNTYTD

ACTUALORIGINAL

BUDGETBUDGETUNEXPENDEDPCNT

EDA
253-46500-31050TAX INCREMENT.

00.

253-46500- 36210INTEREST
TOTAL

EARNINGS496.

0

71.76)

1,
000.001,000.001,071.76(

7.2)

EDA496. 98(

71.76)

74,500.0074,500.0074,571.76(

1).

71.76)

74,500.0074,500.0074,571.76(

1).

TOTAL FUND REVENUE496.

FOR ADMINISTRATION

0073,500.0073,500.0073,500.00.

98(

USE ONLY41 %

98(

OF THE FISCAL YEAR HAS ELAPSED06/ 09/2026

19

11:14AM

PAGE: 20

CITY OF ST JOSEPH
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 5MONTHS ENDING MAY 31, 2026
TIF 4-1FORTITUDE SENIOR APTS
PRIOR YTD AMOUNTYTD

ACTUALORIGINAL

BUDGETBUDGETUNEXPENDEDPCNT

EDA
253-46500- 300PROFESSIONAL

SERVICES.

00.

001,275.001,275.001,275.00.

0

00.

00105. 00105. 00105. 00.

0

TOTAL EDA.

00.

001,380.001,380.001,380.00.

0

TOTAL FUND EXPENDITURES.

00.

001,380.001,380.001,380.00.

0

253-46500- 306COUNTY TIF ADMIN FEE.

NET REVENUE OVER EXPENDITURES496.

FOR ADMINISTRATION

USE ONLY41 %

98(

71.76)

73,120.0073,120.0073,191.76(

OF THE FISCAL YEAR HAS ELAPSED06/ 09/2026

20

1).

11:14AM

PAGE: 21

CITYOFSTJOSEPH
BALANCESHEET
MAY31,2026

FUND 257 - TIF2-1 MILLSTREAM SHOPS LOFTS
ASSETS
257-10199CASH51,
TOTAL

762.44

ASSETS51,

762.44

LIABILITIES AND EQUITY

FUND EQUITY
257-25310UNASSIGNED

FUND BALANCE51, 814.28

REVENUE OVER EXPENDITURES - YTD(
TOTAL
TOTAL

FUND

LIABILITIES

51.84)
EQUITY51,

762.44

AND EQUITY51, 762.44

21

CITY OF ST JOSEPH
REVENUES WITH COMPARISON TO BUDGET
FOR THE 5MONTHS ENDING MAY 31, 2026
TIF 2-1MILLSTREAM SHOPS LOFTS
PRIOR YTD AMOUNTYTD

ACTUALORIGINAL

BUDGETBUDGETUNEXPENDEDPCNT

EDA
257-46500-31050TAX INCREMENT.

00.

257-46500- 36210INTEREST
TOTAL

EARNINGS692.

0

51.84)

525.00525. 00576. 84(

9.9)

EDA692. 04(

51.84)

54,075.0054,075.0054,126.84(

1).

51.84)

54,075.0054,075.0054,126.84(

1).

TOTAL FUND REVENUE692.

FOR ADMINISTRATION

0053,550.0053,550.0053,550.00.

04(

USE ONLY41 %

04(

OF THE FISCAL YEAR HAS ELAPSED06/ 09/2026

22

11:14AM

PAGE: 22

CITYOFSTJOSEPH
BALANCESHEET
MAY31,2026

FUND 259 - TIF2-3BAYOU BLUES ALLEY FLAT
ASSETS
259-10199CASH2,
TOTAL

369.92

ASSETS2,

369.92

LIABILITIES AND EQUITY

FUND EQUITY
259-25310UNASSIGNED
REVENUE

TOTAL
TOTAL

FUND BALANCE2, 360.59

OVER EXPENDITURES -

YTD9. 33

FUND

EQUITY2, 369.92

LIABILITIES

AND EQUITY2, 369.92

23

CITY OF ST JOSEPH
EXPENDITURES WITH COMPARISON TO BUDGET
FOR THE 5MONTHS ENDING MAY 31, 2026
TIF 2-1MILLSTREAM SHOPS LOFTS
PRIOR YTD AMOUNTYTD

ACTUALORIGINAL

BUDGETBUDGETUNEXPENDEDPCNT

EDA
257-46500- 300PROFESSIONAL

SERVICES.

00.

001,275.001,275.001,275.00.

0

00.

0075.0075.0075.00.

0

TOTAL EDA.

00.

001,350.001,350.001,350.00.

0

TOTAL FUND EXPENDITURES.

00.

001,350.001,350.001,350.00.

0

257-46500- 306COUNTY TIF ADMIN FEE.

NET REVENUE OVER EXPENDITURES692.

FOR ADMINISTRATION

USE ONLY41 %

04(

51.84)

52,725.0052,725.0052,776.84(

OF THE FISCAL YEAR HAS ELAPSED06/ 09/2026

24

1).

11:14AM

PAGE: 23

CITY OF ST JOSEPH
REVENUES WITH COMPARISON TO BUDGET
FOR THE 5MONTHS ENDING MAY 31, 2026
TIF 2-3BAYOU BLUES ALLEY FLAT
PRIOR YTD AMOUNTYTD

ACTUALORIGINAL

BUDGETBUDGETUNEXPENDEDPCNT

EDA
259-46500-31050TAX INCREMENT.

00.

259-46500- 36210INTEREST
TOTAL

TOTAL

USE ONLY41 %

549.3352,515.0052,515.0052,505.67.

OF THE FISCAL YEAR HAS ELAPSED06/ 09/2026

25

0

549.3315.0015.005.6762.2

EDA12. 549.3352,515.0052,515.0052,505.67.

FUND REVENUE12.

FOR ADMINISTRATION

0052,500.0052,500.0052,500.00.

EARNINGS12.

0

0

11:14AM

PAGE: 24

2026 Capital Expenditures
General Fund Capital Improvement Plan - EDA
Final adopted December 1, 2025

12/31/2025
Project
Department

Account Code

Project
Number

Equipment

EDA

250-46500-582

EDA-1401 Computer Software

EDA
RLF

250-46500-588
251-46500-588

EDA-1402 Business Development
EDA-1402 Business Development

TOTAL EDA CIP

Available
Reserve
Balance

through 5/31
Grants/Aids
2026

Budget
2026

through 5/31
Spent
2026

2026
Balance

3,243.38

400.00

3,643.38

55,577.22
547,053.91
602,631.13

17,000.00
17,000.00

-

-

72,577.22
547,053.91
619,631.13

605,874.51

17,400.00

-

-

623,274.51

BFA Grants Awarded, not paid as of 4/30/26:
College & Minnesota, Quonset Building 106 2nd Ave NW
Pierce Insurance 26 2nd Ave NW

Project
front façade
front façade

26

Grant Match $
$2,000
$2,000

CVB 2026 Financial Summary
As of May 31, 2026
Beginning Fund Balance 1-1-26 (Audited)

Customer
Interest Earnings
T-shirt/Hats/Merchandise Sales
Joetown Blocks/Events
Sponsorship Fees
State Grants and Aids
Contributions/Donations
Transfer from EDA - Joetown Blocks/Events
Short-Term Rentals Lodging Tax
Rodeway Inn Lodging Tax
CSB Lodging Tax
Estates B&B Lodging Tax

Draft Budget
2027
$
750.00
1,200.00
100.00
6,500.00
3,800.00
1,600.00
$
13,950.00

Vendor
Professional Services - CVB Director Contract (Bruno Press)
Travel & Conference Expenses
IT Services - Square Space/Social Media/Website/QR Code
Visitor's Bureau - Rubinski Works - Videos
Visitor's Bureau - Photos
Community Programs - Shop Small/Winterwalk/Feb/June
Community Programs - Joetown Blocks/Events
Visitors Bureau Prizes - Swag Give-Aways/Prizes
Marketing - SHRPA
Marketing - Trailhead Signs Campaigns
Visitor's Bureau - Merchandise-Maps/Hats (Krillan/Rambow)
Advertise - Think Tourism USA
Advertise - MN Trails Magazine
Advertise - Newcomer Service Magazine

Draft Budget
Actual
Adopted Budget
2027
2025
2026
$
9,000.00 $ 9,000.00 $
9,000.00
$
$
420.00
296.00
420.00
1,200.00
400.00
1,200.00
200.00
200.00
1,000.00
1,000.00
1,200.00
1,334.70
1,000.00
850.00
825.00
875.00
625.00
610.85
600.00
310.00
325.00
14,620.00
$
14,805.00 $ 12,466.55 $

Ending Fund Balance 5-31-26 (Unaudited)

27

Actual
2025
$ 1,552.70
1,438.49
10,000.00
125.47
8,935.68
4,191.90
1,606.83
$ 27,851.07

Adopted Budget
2026
$
525.00
1,000.00
300.00
7,500.00
3,000.00
1,500.00
$
13,825.00

$

42,486.86

$

YTD Rev
2026
(73.95)
256.25
18.08
2,179.55
3.30
437.43
2,820.66

$

YTD Exp
2026
3,750.00
296.00
849.75
623.20
620.00
6,138.95
39,168.57

EDA Agenda Item 4a

MEETING DATE:

June 16, 2026

AGENDA ITEM:

2025 Annual TIF Reports

SUBMITTED BY:

Finance

STAFF RECOMMENATION: Review TIF report summary.
PREVIOUS BOARD ACTION: EDA hired Tammy Omdahl from Northland Securities to complete the
reporting forms for TIF 2-1, 2-3, 4-1.
BACKGROUND INFORMATION: Annually the EDA and City must report a summary of the
activity in each tax increment fund to the State Auditor whether or not the projects are completed. The
reporting forms are due to the State Auditor by August 1st of the following year and a summary must be
published by August 15th of the following year. In addition, the summary reports will be mailed to the
School District and Stearns County for their records. For 2025, the reports include three reports for the
following TIF projects:
TIF 2-1 Millstream Shops and Lofts
TIF 2-3 Bayou Blues and Alley Flats
TIF 4-1 Fortitude Senior Housing
The attached TIF report summary will be submitted to the County and School District. The summary will
also be published in the St. Cloud Times. Complete forms are available at city hall.
BUDGET/FISCAL IMPACT:

For Information Only

ATTACHMENTS:

Summary TIF Publication

REQUESTED BOARD ACTION: Review 2025 TIF reports.

28

PUBLIC NOTICE
CITY OF SAINT JOSEPH, MINNESOTA
ANNUAL DISCLOSURE OF TAX INCREMENT DISTRICTS FOR THE
YEAR ENDED DECEMBER 31, 2025
(Minnesota Statutes, Section 469.175(5)

TIF 2-1

TIF 2-3

TIF 4-1

Millstream
Project

Bayou Blues

Fortitude Senior
Housing

Current Net Tax Capacity

$51,058

$38,123

$65,269

Original Net Tax Capacity

$4,637

$1,228

$958

Captured Net Tax Capacity

$46,421

$36,895

$64,311

Principal and Interest Payments
Due in 2026

$44,171

$41,423

$72,696

Tax Increment Received in 2025

$51,480

$46,158

$82,737

Tax increment Expended in 2025

$45,600

$42,871

$74,166

Month / Year First Tax Incr. Receipt

July 2009

July 2017

June 2018

Date of Required Decertification

12/31/34

12/31/42

12/31/43

Additional information regarding each district may be obtained from:
Lori Bartlett, Finance Director
City of Saint Joseph
75 Callway Street E.
Saint Joseph, MN 56374
320-363-7201
St. Joseph Newsleader, By August 15, 2026

St Joseph TIF Publication FYE2025
29