HomeMy WebLinkAboutDMCC Resolution No. 159-2025 (Authorizing Report to the Legislature Pursuant to Statute)DESTINATION MEDICAL CENTER CORPORATION
RESOLUTION NO. 159-2025
AUTHORIZING REPORT TO THE LEGISLATURE PURSUANT TO STATUTE
The following Resolution was offered by Kim Norton, seconded by Randy Schubring.
BACKGROUND RECITALS
A. Minnesota Laws, Chapter 143, Article 10 (the “Act”) provides that by February 15
of each year, the Destination Medical Center Corporation (“DMCC”) and the City of Rochester
(the “City”) must jointly submit a report to the chairs and ranking minority members of the
legislative committees and divisions with jurisdiction over local and state government operations,
economic development, and taxes, to the Commissioners of Revenue and Employment and
Economic Development, and to Olmsted County. The DMCC and the City must also submit the
report as provided in Minnesota Statutes, Section 3.195.
B. The DMCC and City staff have prepared a draft report, due on February 15, 2025,
and attached as Exhibit A.
RESOLUTION
NOW, THEREFORE, BE IT RESOLVED, by the DMCC Board of Directors that the
Chair or Vice Chair of the DMCC is authorized to execute and submit the report to the Minnesota
Legislature as required by the Act, in form similar to the report attached here as Exhibit A, as may
be modified through further discussions with the City, and to take such other actions as are
necessary and appropriate to effectuate the timely submission of the report to the Minnesota
Legislature.
30661560v2
The question was on the adoption of the Resolution and there were YEAS and
NAYS,as follows:---
BOARD OF DIRECTORS
Destination Medical Center Corporation
YEA
Douglas M.Baker,Jr.
James R.Campbell
Kim Norton
R.T.Rybak
Randy Schubring
Mark Thein
Pamela Wheelock
Paul D.Williams
RESOLUTION ADOPTED on February 6,2025.
amela Wheelock,Chair
Destination Medical Center Corporation
NAY OTHER
8
0
X
X
X
X
X
X
X
X
EXHIBIT A
February 10, 2025
The Honorable Tou Xiong
Chair, State and Local Government and
Veterans Committee
Minnesota State Senate
3203 Minnesota Senate Building
95 University Avenue W
St. Paul, MN 55155
The Honorable Jim Nash
Chair, State and Local Government Finance
and Policy Committee
Minnesota House of Representatives
2nd Floor, Centennial Office Building
658 Cedar Street
St. Paul, MN 55155
The Honorable Andrew Lang
State and Local Government and Veterans
Committee
Minnesota State Senate
2205 Minnesota Senate Building
95 University Ave W
St. Paul, MN 55155
The Honorable Ginny Klevorn
State and Local Government Finance
and Policy Committee
Minnesota House of Representatives
5th Floor, Centennial Office Building
658 Cedar Street
St. Paul, MN 55155
The Honorable Bobby Joe Champion
Chair, Jobs and Economic Development
Committee
Minnesota State Senate
3401 Minnesota Senate Building
95 University Ave W
St. Paul, MN 55155
The Honorable Dave Baker
Chair, Workforce Development Finance and
Policy Committee
Minnesota House of Representatives
2nd Floor, Centennial Office Building
658 Cedar Street
St. Paul, MN 55155
The Honorable Rich Draheim
Jobs and Economic Development Committee
Minnesota State Senate
2225 Minnesota Senate Building
95 University Ave W
St. Paul, MN 55155
The Honorable Dave Pinto
Workforce Development Finance and Policy
Committee
Minnesota House of Representatives
5th Floor, Centennial Office Building
658 Cedar Street
St. Paul, MN 55155
The Honorable John Marty
Chair, Finance Committee
Minnesota State Senate
3235 Minnesota Senate Building
95 University Ave W
St. Paul, MN 55155
The Honorable Paul Torkelson
Chair, Ways and Means Committee
Minnesota House of Representatives
2nd Floor, Centennial Office Building
658 Cedar Street
St. Paul, MN 55155
February 10, 2025
Page 2
The Honorable Eric Pratt
Finance Committee
Minnesota State Senate
2217 Minnesota Senate Building
95 University Ave W
St. Paul, MN 55155
The Honorable Zack Stephenson
Ways and Means Committee
Minnesota House of Representatives
5th Floor, Centennial Office Building
658 Cedar Street
St. Paul, MN 55155
The Honorable Ann Rest
Chair, Taxes Committee
Minnesota State Senate
328 Capitol
75 Rev. Dr. Martin Luther King Jr. Blvd.
St. Paul, MN 55155
The Honorable Greg Davids
Chair, Taxes Committee
Minnesota House of Representatives
2nd Floor, Centennial Office Building
658 Cedar Street
St. Paul, MN 55155
The Honorable Bill Weber
Taxes Committee
Minnesota State Senate
2211 Minnesota Senate Building
95 University Ave W
St. Paul, MN 55155
The Honorable Aisha Gomez
Taxes Committee
Minnesota House of Representatives
5th Floor, Centennial Office Building
658 Cedar Street
St. Paul, MN 55155
The Honorable Matt Varilek
Commissioner, Minnesota Department of
Employment and
Economic Development
180 E. 5th Street, Suite 1200
St. Paul, MN 55101
The Honorable Mark Thein
Chair, Olmsted County
Board of Commissioners
151 4th St SE
Rochester, MN 55904
The Honorable Paul Marquart
Commissioner, Minnesota Department of
Revenue
600 North Robert Street
St. Paul, MN 55101
Re: Destination Medical Center – February 15, 2025 Report
Dear Senators, Representatives, Commissioners, and Chairs:
On behalf of the Destination Medical Center Corporation (the “DMCC”) and the City of
Rochester (the “City”), we are pleased to submit this report on the progress of the Destination
Medical Center (“DMC”) initiative, in accordance with Minnesota Statutes, Sections 469.40 –
469.47 (the “Act”).
The Act requires that this report include five elements: (1) the DMC development plan
and any proposed changes; (2) progress of projects; (3) costs and financing sources, including
February 10, 2025
Page 3
State funding and required local contributions, for recent projects; (4) estimated costs and
financing sources for future projects; and (5) debt service schedules for all outstanding
obligations of the City for debt issued for DMC projects. We discuss each of these elements in
the report. Below, we provide a summary of DMC’s 2024 milestones, as well as a brief
background of Minnesota’s largest economic development initiative.
Destination Medical Center: 2024 Milestones
The DMC public-private partnership continued to flourish in 2024, and two highlights of
the year deserve particular attention in the mission to sustain Rochester, Minnesota as the
world’s premier destination for health and wellness. First, Mayo Clinic has commenced its
momentous investment in the Bold. Forward. Unbound. in Rochester initiative, a five-billion-
dollar, 2.4-million-square-foot expansion of its Rochester campus, the largest investment in
Mayo’s 160-year history and the largest investment in Minnesota history, unlocking significant
opportunity and providing a catalyst for additional investment. Second, qualified private
investments from 2013 through 2023 exceeded $1.6 billion.
As to private investment certifications, in 2024, we certified a total of $146,235,676 for
the year ending December 31, 2023, which includes $133,652,089 in Mayo Clinic investments
and $12,583,587 in other private investments. The cumulative total of Mayo Clinic and other
private investments through 2023 is $1,607,368,325. The City of Rochester has contributed
$67,066,994 in certified expenditures from June 30, 2013 through December 31, 2023. The City
also certified transit contributions of $966,934 for 2023, qualifying for the maximum
disbursement of State transit aid of $7,500,000.
These strategic public investments and continued private market momentum have
created new and evolving opportunities for collaborative public infrastructure projects and
private development. Currently, the City of Rochester and the DMC Economic Development
Agency (the “EDA”) are in active discussions with 14 different developers who are interested in
investing in downtown Rochester. The projects under discussion include nearly 900 affordable
housing units, 1,200 market-rate housing units, and 200 hotel rooms. The scope and scale of
development interest is an encouraging sign that Rochester and the surrounding area will
continue to lead Minnesota in economic growth.
Indeed, in October 2024, the Minnesota Department of Employment and Economic
Development (“DEED”) reported that the Rochester Metropolitan Statistical Area (“MSA”) leads
the state in job growth, adding about 7,000 jobs for a year-over-year growth rate of 6.3%. For
comparison, the entire Minnesota workforce grew by just 1.2% in that same period.
To build on this position of economic strength, in 2024 DMC executed an intensive
national and international business development program, leveraging Minnesota’s reputation as
home to the world’s largest health and med-tech industry cluster to “pitch” Rochester and
Minnesota to more than 1,300 companies.
February 10, 2025
Page 4
In addition to these certified investments and economic development activities, there are
many capital projects proposed or under construction, the majority of which are private
investments with no direct DMC public assistance. A map of the DMC development district and
key public and private projects is attached as Exhibit A to the report. A summary of significant
projects is attached as Exhibit B to the report.
Destination Medical Center: Background.
The Act requires that private investment lead the way for this private-public model of
partnership: over $200,000,000 in Mayo Clinic and other private investment had to occur before
any state funding would begin to flow. That threshold was surpassed in 2017.
The Act further established the partnership between the DMCC, the City, Mayo Clinic, and
Olmsted County (the “County”). The DMCC Board of Directors is appointed by the Governor of
Minnesota, the City, the County, and Mayo Clinic. Key funding and strategy decisions require
approval by both the DMCC and the City Council. Specifically, the Act required the preparation
and joint approval of a development plan (the “Development Plan”), which serves as the strategic
framework for DMC’s business and economic development strategy. It includes land use,
transportation and infrastructure planning, market research, funding priorities, business and
economic development, and market strategies.
After City approval, the DMCC adopted the Development Plan on April 23, 2015. The
Development Plan must be updated not less than every five years. The Five-Year update was
approved by the City and by the DMCC in 2020. The second Five-Year update is underway. It is
scheduled for approval by the end of 2025.
For more information, including viewing the DMC Development Plan, public meeting
materials, project updates, investor and developer information, and market research, visit
www.dmc.mn. The City’s website, www.rochestermn.gov, also provides information on the DMC
initiative.
Thank you for your consideration of this annual report. With the promise of Mayo Clinic’s
continued growth and investment, increasing private development interest, and a job market
that is growing more than five times faster than the state average, it is clear that the DMC
economic development model is working and delivering results for Minnesota.
30750711v5
February 10,2025
Page 5
On behalf of both the DMCC and the City,we welcome your comments or questions.We
look forward to continued progress on the Destination Medical Center initiative in 2025.
Destination Medical Center Corporation
Enclosures
cc:Legislative Reference Library
City of Rochester
City of Rochester: 507.328.2900
City of Rochester
DMC Corporation
201 4th St. SE
Rochester, MN 55904
rochestermn.gov
dmc.mn
REPORT Destination Medical Center Corporation
& City of Rochester
ANNUAL
February 15, 2025
Capital Improvement Plan (CIP)
TABLE OF
CONTENTS
01
02-04
Capital Improvement Plan (CIP)
Statutory Element Three- Actual Costs and Financing
Statutory Element Four- Estimated Future Costs & Financing
Statutory Element Five- Debt Service Schedule
Exhibit A- Map of DMC Development District
Exhibit B- Summary of Major Projects
Projects without DMC Funding
Exhibit C- Annual Certification of Mayo Clinic and other
Exhibit D- Annual Certification of City Expenditures
Exhibit E- DEED Certifications
Summary of Five Statutory Elements
Statutory Element One-Development Plan
05Statutory Element Two- Progress of Projects
Discovery Walk 06
Riverfront Reimagined 07
Downtown Property Preservation 08
Soldiers Field Memorial Park 09 Mobility 10
12-13
14-15
16-18
19-20
21-22
23-26
27-28
29-41
42-44
45-48
11 West Transit Village
Private Expenditures
The Development Plan and any
proposed changes to the
Development Plan.
Actual costs and financing
sources, including the amount
paid under Minnesota Statutes
Section 469.47, and required
local contributions of projects
completed in the previous two
years by the DMCC, the City,
County, and Mayo Clinic.
Debt service schedules for all
outstanding obligations of the
City for debt issued for projects
identified in the plan.
Progress of projects
identified in the
Development Plan.
Estimated costs and
financing sources for
projects to be started in
the next two years by the
DMCC, the City, County,
and Mayo Clinic.
01
The Act requires that five elements be
included in this annual report.
The Development
Plan and any
proposed
changes to the
Development
Plan.
FIRST
AMENDMENT
SECOND
AMENDMENT
FIRST
FIVE YEAR
UPDATE
SECOND
FIVE YEAR
UPDATE
2016 2020 2020 2025
Modification
made to the
DMC
Development
District.
The update can be found at
https://dmc.mn/inves-
tors-and-developers/
Report expected
to be presented
for approval by
year-end 2025.
2015
INITIAL
ADOPTION
April 23, 2015.
Development
Plan adopted.
02
Modification
made to the
DMC
Development
District.
03
Development Plan.
One of the primary goals of the Act was the adoption of a Development
Plan. In September 2013, the DMCC established specific goals and objectives
for the Development Plan: to create a comprehensive strategic plan, and
over the life of the project, to stimulate over $5 billion in private investment
that will be supported by $585 million in public funds, create 35,000-45,000
new jobs, generate $7.5 billion to $8.5 billion in net new tax revenue, and
achieve the highest quality patient, visitor, and resident experience.
The Development Plan is the strategic framework for the DMC initiative,
establishing a comprehensive business and economic development
strategy. It includes land use, transportation and infrastructure planning,
market research, funding priorities, business and economic development,
and market strategies. Upon making the findings set forth in the Act,
including finding that the City had approved the Development Plan, the
DMCC adopted the Development Plan on April 23, 2015. The Act requires
that the Development Plan be updated not less than every five years. The
Five-Year Update was approved by the City and by the DMCC in 2020.
The next Five-Year Update to the Twenty-Year DMC Development Plan is
underway and scheduled for approval by the
end of 2025.
Private Investment Leads Public Investment.
The Act requires that private investment lead the
way for this private-public model of partnership. The
required private investment of $200,000,000 before
state funding would begin under the Act was met in
2017. The graph below depicts the cumulative private
investment, in millions of dollars, since 2013.
CUMULATIVE INVESTMENT IN MILLIONS
04
200
400
600
800
1,000
1,200
1,400
1,600
0
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Progress of projects
identified in the
Development Plan.
According to the Act, a public
infrastructure project must be approved by
the DMCC before it is proposed to the City.
The DMCC must review the project proposal
for consistency with the Development Plan.
Since the adoption of the Development
Plan on April 23, 2015, a number of projects
have been approved by the DMCC and the
City. A map of the DMC Development
District and key projects is included as
Exhibit A. A summary of major approved
projects in the DMC Development District
is attached as Exhibit B.
We wish to highlight the progress in 2024
of certain approved projects:
Discovery Walk
Riverfront Reimagined
Downtown Property Preservation
Soldiers Field Memorial Park
Mobility
West Transit Village
Capital Improvement Plan
05
DISCOVERY WALK
Discovery Walk is a four-block linear parkway along 2nd Avenue SW. It connects
Annenberg Plaza to Soldiers Field Memorial Park and functions as an extension of the
Heart of the City public realm project. Discovery Walk is designed to feel like a park and to
promote health, wellness, and innovation by creating a high amenity pedestrian
experience while also maintaining flexibility for bike and vehicular access as well as civic
events and future development. It also serves as a catalyst for future private development
in Discovery Square. Construction was substantially completed in 2024 and, in addition to
significant upgrades and upsizing of below-grade sewer and street infrastructure that can
accommodate future development, includes a pedestrian ramp, pedestrian lighting art,
and a snow melt system.
06
RIVERFRONT REIMAGINED
Following a City-initiated small area plan study for a portion of the 60+ acre area
located southeast of the downtown core on the Zumbro River, the City continues
to lead development of this “front door” to the river to a gateway into downtown.
In July of 2022, the City adopted a preferred plan to guide the transformation of
the redevelopment area to a future mixed-use neighborhood. In August of 2022,
the City was awarded a federal RAISE grant in the amount of $19.9 million for the
Sixth Street Bridge crossing the Zumbro River. In 2024, DMC worked in
collaboration with City staff to select the consultant team and will continue to
participate in the planning and development process, focusing on the public
realm experience and linkages between this site and the rest of the district.
East and West side renderings of Riverfront Area.
07
Downtown Waterfront Southeast
08
DOWNTOWN PROPERTY PRESERVATION
The DMC Development Plan “states the preservation of historic landmarks and districts is an important
part of a city’s historic fabric … As the DMC implementation process moves forward, we recommend the
EDA work with federal agencies, state agencies and local organizations to evolve strategies and programs
to incentivize historic preservation [in the] DMC District.” On January 22, 2024, the City established a
thirty-two-property, commercial historic district located within the DMC District.
On May 23, 2024, the DMCC approved the creation of a downtown property preservation program,
providing funding for public infrastructure projects within the commercial historic district. Since the
programs establishment in May of 2024, four funding requests have been approved by the DMCC
resulting in preservation, improvement, and adaptive reuse, and substantial private investment, into four
historic properties within the district.
Soldiers Field contains 150 acres of
memorials and active recreation space,
including 4,000 feet of riverfront. The
northern portion lies within the DMC district
and is featured in the DMC Development
Plan as an anchor of the Education and
Recreation subdistrict. This project also
maximizes connections to other key features
of the DMC district: Discovery Walk
connects the Heart of the City to Soldiers
Field and the Sixth Street Bridge will link
Soldiers Field to the downtown waterfront
area. The public realm improvements within
the district feature an aquatics center, with
lap pool, bath house, wading pool, and
outdoor seating, new basketball courts,
adding a trail through the northeast corner
of the park, nature play area, community
shelter, public restrooms, and new public
parking. Construction was completed in
2024 resulting in a record number of visits by
community members.
SOLDIERS
FIELD
MEMORIAL
PARK
09
Progress continued on the approximately
three-mile bus rapid transit project known as
“Link BRT.” In 2022, the City and Mayo Clinic
entered a twenty-year operating agreement
in which Mayo Clinic will cover the annual
local match for operating costs and all riders
may use the system without paying fares. In
2023, design work was nearly completed, and
state and federal environmental reviews
concluded. With the significant progress in
project planning and qualifying expenditure,
the City certified, and DEED approved,
$10,999,434.78 in transit contributions for
2023, qualifying for the State’s disbursement
of $7,500,000 as the annual maximum of
state transit aid. In 2024, the City and DMC
hosted members of the Federal Transit
Administration in order to receive
approximately $58,000,000 in funding for
Link BRT and DMCC approved $13,740,000 in
contingency funding for the project. City,
DMC and Mayo Clinic are currently working
with consultants with the goal of creating a
world-class experience that centers equity of
access and foregrounds BRT as a desirable
consumer choice.
MOBILITY
A critical component of the Link
experience is the future
development of the West Transit
Village at the western terminus at
Second Street SW. The vision for
the West Transit Village extends
far beyond parking, with the
potential uses of mixed income
housing, retail, and childcare.
In 2023, Mayo Clinic selected a
team of development partners to
prepare design options for a
final site plan.
Service early in the morning to late at night.
Service every 5 minutes during rush hours & 10 minutes other times.
Fare-free servicefor all riders.
Fully electric busfleet withon-routechargers.
Stations with shelter, heating, light, and real-time signage.
10
EX
H
I
B
I
T
WEST TRANSIT VILLAGE
11
The West Transit Village is a key element of enabling Link Bus
Rapid Transit to function and provide an experience benefiting
the DMC vision of Rochester as a world-class destination. In 2024,
the project team worked with the private sector with the goal of
shifting a significant portion of commuting trips downtown away
from single occupant vehicles to other modes including bus
rapid transit, building 500 units of market rate and affordable
housing, and service-oriented retail and childcare. Construction
of the West Transit Village will begin in 2025.
24
CAPITAL IMPROVEMENT PLAN (CIP)
In addition to previously noted projects, the DMCC and the City have approved a
Capital Improvement Plan (“CIP”) for public infrastructure projects for 2025. Projects
identified in the CIP are categorized as follows: Public Realm, Mobility, Strategic
Redevelopment, and Streets and Sewers.
12
Chateau Theatre
Improvements and
Assets Preservation
Heart of the City
PUBLIC REALM
LINK Bus Rapid Transit,
including Second
Street Reconstruction
and Streetscape
MOBILITY STRATEGICREDEVELOPMENT STREETS ANDSEWERS
Sixth Street Corridor:
Sixth Street Bridge,
Sixth Street SE,
Waterfront
Connectivity
Aligning
infrastructure: Bold.
Forward. Unbound. in
Rochester
Aligning
infrastructure:
West Transit Village
Continued funding of
a “strategic
redevelopment fund”
supporting the
DMCC and City in its
response to DMC
funding applications.
Interim Wayfinding
DMC funding remains available to advance previously approved projects, including
strategic development, riverfront pre-development, St. Marys Place sub-district public
realm, a thermal energy network, multi-modal streets, and implementation of
Rochester’s Downtown Task Force recommendations.
13
The DMC CIP reflects only a portion of the number and type of public and
private development projects in the DMC district. Early strategic DMC
investments in public infrastructure and commercial and residential projects
successfully established Rochester as a destination for investment and
development. Additionally, DMC projects continue to benefit from community
co-design, a process that recruits those most impacted by a project to assist in
advocating for underrepresented communities and perspectives. Other projects,
which are now proceeding without the need for public DMC support, include
workforce and market-rate housing, world-class medical care and research
facilities, retail and dining spaces, small business improvements, and more.
In addition to these transformative capital investments, the City and the EDA
have successfully secured economic revitalization, sustainability, workforce, and
equitable community-building grants, including through DEED’s Main Street
Economic Revitalization Program, Bloomberg Philanthropies Global Mayors
Challenge, and the McKnight Foundation. These grant awards, secured by the
DMCC’s partners, support and augment the advancement of DMC priorities.
Actual Cost and
Financing
Sources.
Actual costs and financing sources, including the amount paid under
Minnesota Statutes, Section 469.47, and required local contributions of
projects completed in the previous two years by the DMCC, City, Olmsted
County, and Mayo Clinic.
The Act requires that an annual certification of private investment by Mayo
Clinic and other private investors be made to DEED by April 1 of each year, and
DEED must certify that $200,000,000 of private investment has been made before
any state funding may be paid. This threshold was met and exceeded in 2017. The
cumulative total amount of certified Mayo Clinic and other private investments to
date is $1,607,368,325.14
In compliance with Minnesota Statutes Section 469.47, the annual certification
of Mayo Clinic and other private investment that was submitted to DEED on
March 27, 2024 is attached as Exhibit C. Also, attached as Exhibit D, is the annual
certification of City expenditures, which was submitted to DEED on March 26,
2024. DEED conducted its own audit process of the certified expenditures
and then approved the expenditures. The DEED certifications, dated June 28,
2024, are attached as Exhibit E. In addition, we offer the following information:
15
The 2025 combined operating and
capital improvements budget for the
DMC totals $38,486,379. Of this
amount $4,675,660 will be provided
by the County from its 0.25%
sales tax. The remaining amount is to
be provided by the City of Rochester
from a variety of City funding
sources, including its 0.25% DMC
sales tax. In addition, Mayo Clinic has
pledged financial and in-kind
funding to the EDA in the amount
of $1,555,400.
$38,486,379
Through December 31, 2024,
General State Infrastructure Aid in
the amount of $157,591,189 has been
received. State Transit Aid in the
amount of $15,000,000 has been
received through December 31, 2024.
$172,591,189
Through December 31, 2024,
Olmsted County has contributed
$22,500,000.
$22,500,000
Actual costs paid by the City from
commencement through December
31, 2024 have totaled $72,327,933,
based on year-end unaudited costs.
The funding source was initially City
internal borrowing, which is being
repaid, along with the costs for new
projects and initiatives, by the City’s
0.25% DMC sales tax. The City has
also issued capital debt for a parking
ramp in the district. Just as the Mayo
Clinic investments and other private
investments have underscored the
commitment to DMC, so too have
the City contributions.
$72,327,933
Estimated Costs
and Financing
Sources for
Projects to be
started in the
next two years
by the DMCC,
City, County,
and Mayo Clinic.
The Development Plan sets forth a framework and examples
of projects that may be considered for funding in the next
several years. Each project will be approved on an individual
basis. See also the report response to statutory elements “2”
and “3”.
16
Rendering of planned new Mayo Clinic facilities in downtown Rochester
BOLD. FORWARD. UNBOUND. IN ROCHESTER
Project complete by 2030
$5 billion investment
$500 million in sustaining projects
2.4 million square feet of new space
First buildings open in 2029
$600M
Rochester
2023
Permit
Valuation
$646M
St. Croix
Bridge
$1 B
US Bank
Stadium
$2.6 B
2024 State
of MN
Bonding
Bill
$2.7 B
SW Light
Rail
$3.2 B
MSP
Airport
Expansion
$5 B
Mayo Clinic
BOLD.
FORWARD.
UNBOUND.
IN ROCHESTER
Comparative Investments within Minnesota
Highlights of the project:
17
18
DMC CAPITAL IMPROVEMENT PLAN
DESCRIPTION
PUBLIC REALM
MOBILITY
STRATEGIC DEVELOPMENT
STREETS AND SEWERS
OPERATIONS
DESCRIPTION
DESCRIPTION
DESCRIPTION
DESCRIPTION
Chateau Theatre:Asset Preservation
Interim Wayfinding
DMC SOURCE
DMC GSIA
DMC GSIA
DMC GSIAStrategic Redevelopment
PROPOSED 2025DMC FUNDING
$100,000
$100,000
Subtotal $200,000
$7,422,437
Subtotal $26,110,729
$13,740,000
$3,000,000
Subtotal $3,000,000
DMC GSIASixth Street Bridge, SixthSt. SE,Waterfront Connectivity $2,500,000
DMC GSIAAligning Infrastructure:Bold. Forward. Unbound. in Rochester $1,000,000
DMC GSIAAligning Infrastructure:West Transit Village $1,000,000
Subtotal $4,500,00
DMC Corporation CITY DMC AID $229,877
DMC Administrative Supportby City of Rochester CITY DMC AID $100,000
DMC EDA CITY DMC AID $2,984,632
Subtotal $4,675,650
City DMC Project Management CITY DMC AID $1,361,141
DMC COUNTY TRANSIT AIDRapid Transit, including SecondStreet Reconstruction andStreetscape DMC STATE TRANSIT AID
DMC COUNTY TRANSIT AIDFTA-required Rapid TransitContingency
$4,948,292
2025 DMCFUNDING TOTAL
$38,486,379
Debt service
schedules for all
outstanding
obligations of
the City for debt
issued for
projects
identified in
the plan.
19
203520
Post-Sale
$21,265,000
Rochester, Minnesota
General Obligation Tax Increment Revenue Bonds, Series 2017B
(Parking Ramp Project)
DEBT SERVICE SCHEDULE
I+P latoTtseretnInopuoClapicnirPetaD
----8102/10/20
48.936,04548.936,045--8102/10/80
02/01/2019 550,000.00 5.000%381,628.13 931,628.13
31.878,76331.878,763--9102/10/80
02/01/2020 735,000.00 5.000%367,878.13 1,102,878.13
31.305,94331.305,943--0202/10/80
02/01/2021 775,000.00 5.000%349,503.13 1,124,503.13
31.821,03331.821,033--1202/10/80
02/01/2022 815,000.00 5.000%330,128.13 1,145,128.13
31.357,90331.357,903--2202/10/80
02/01/2023 855,000.00 5.000%309,753.13 1,164,753.13
31.873,88231.873,882--3202/10/80
02/01/2024 895,000.00 5.000%288,378.13 1,183,378.13
31.300,66231.300,662--4202/10/80
02/01/2025 940,000.00 5.000%266,003.13 1,206,003.13
31.305,24231.305,242--5202/10/80
02/01/2026 990,000.00 5.000%242,503.13 1,232,503.13
31.357,71231.357,712--6202/10/80
02/01/2027 1,035,000.00 5.000%217,753.13 1,252,753.13
31.878,19131.878,191--7202/10/80
02/01/2028 1,090,000.00 2.000%191,878.13 1,281,878.13
31.879,08131.879,081--8202/10/80
02/01/2029 1,110,000.00 2.250%180,978.13 1,290,978.13
36.094,86136.094,861--9202/10/80
02/01/2030 1,135,000.00 3.000%168,490.63 1,303,490.63
36.564,15136.564,151--0302/10/80
02/01/2031 1,170,000.00 2.750%151,465.63 1,321,465.63
31.873,53131.873,531--1302/10/80
02/01/2032 1,200,000.00 2.750%135,378.13 1,335,378.13
31.878,81131.878,811--2302/10/80
02/01/2033 1,235,000.00 2.875%118,878.13 1,353,878.13
00.521,10100.521,101--3302/10/80
02/01/2034 1,270,000.00 2.875%101,125.00 1,371,125.00
57.868,2857.868,28--4302/10/80
02/01/2035 1,305,000.00 3.000%82,868.75 1,387,868.75
57.392,3657.392,36--5302/10/80
02/01/2036 1,345,000.00 3.000%63,293.75 1,408,293.75
57.811,3457.811,34--6302/10/80
02/01/2037 1,385,000.00 3.000%43,118.75 1,428,118.75
57.343,2257.343,22--7302/10/80
02/01/2038 1,430,000.00 3.125%22,343.75 1,452,343.75
74.507,054,92$74.507,581,8$-00.000,562,12$latoT
SIGNIFICANT DATES
Dated Date...........................................................................................................................................................................11/16/2017
Delivery Date....................................................................................................................................................................... 11/16/2017
First Ccoupon Date................................................................................................................................................................8/01/2018
Yyield Statistics
Bond Year Dollars................................................................................................................................................................$254,390.21
Aaverage Life.........................................................................................................................................................................11.963 Years
Aaverage Coupon.................................................................................................................................................................. 3.2177754%
Net Interest Cost (NIC).........................................................................................................................................................2.7176241%
True Interest Cost (TIC)....................................................................................................................................................... 2.6417803%
Bond Yield for Arbitrage Purposes.......................................................................................................................................2.6130470%
All Inclusive Cost (AIC)........................................................................................................................................................ 2.6889724%
IRS Form 8038
Net Interest Cost.................................................................................................................................................................. 2.6154299%
Weighted Average Maturity..................................................................................................................................................11.612 Years
Series 2017B GO TIF Parki | SINGLE PURPOSE | 10/16/2017 | 12:02 PM
EX
H
I
B
I
T
MAP OF DMC DEVELOPMENT
DISTRICT AND KEY PROJECTS
21
A
22
A
2434
SUMMARY OF
MAJOR
PROJECTS
EXHIBIT
23
B
HOTEL INDIGO
RENOVATIONS
The Hotel Indigo
involved the renovation
of an existing 172- room
Holiday Inn, located in
the “Downtown
Waterfront” subdistrict
as described in the
Development Plan.
Approved in 2018, the
$42 million
redevelopment
included the addition of
33,000 square feet to
the existing 114,500
square feet and
provided approximately
111 construction jobs and
28 new permanent jobs.
Opening of the new
hotel and restaurant
occurred in 2020.
24
HYATT HOUSE
The Hyatt House
project is located in the
“Central Station”
subdistrict as described
in the Development
Plan. Approved in 2018,
the $44 million project
includes an eight-story,
172- room extended-stay
hotel, and provided
approximately 257
construction jobs while
creating 38 permanent
jobs. This project was
completed in 2021.
TWO DISCOVERY
SQUARE
Located at 209 5th St
SW, this expansion of
the DMC bio-medical,
research, and
technology innovation
campus is a 125,000
square foot
bioscience building. It
features tech-forward
tenant spaces designed
with flexible lab capacity
and leading-edge
technology.
Construction was
completed in 2022.
26
EXHIBIT
HILTON MAYO
The Hilton Rochester
Mayo Clinic Area
(formerly known as the
“Broadway at Center”
project) is located in the
“Downtown Waterfront”
subdistrict as described
in the Development
Plan. Approved in 2015,
this 371,000 square foot
mixed-use project
includes a 264-room
hotel, restaurants, retail
space, a skyway
connection, and a
five-level public parking
ramp with 540 public
spaces and 90 private
spaces. The restaurants
and hotel opened
in 2019.
THE BERKMAN
The Berkman
Apartments (formerly
known as the “Alatus
Project”) is located
on 2nd Street SW in the
“Saint Marys” subdistrict
as described in the
Development Plan.
Approved in 2016, this
mixed- use project
involved the
construction of an
approximately
350,000 square foot,
thirteen-level
commercial and
residential complex. It
includes 350
market-rate rental units,
created an estimated
235 construction jobs
and eight permanent
jobs, and generated a
total of $115 million in
private investment. The
Berkman was
completed in 2020.
BRYK ON
BROADWAY
The Bryk on
Broadway is located at
401 Broadway Ave N. It
is a mixed-use,
mixed-income
apartment building
consisting of 180
workforce housing
apartments, providing
rent at varying levels.
Construction was
completed in 2023.
25
THE MAVEN
ON BROADWAY
The Maven on
Broadway (formerly
known as Urban on
First) is located south of
4th Street SW between
1 st Avenue SW and
Broadway Avenue and
is in the “Discovery
Square” subdistrict as
described in the
Development Plan.
Approved in 2017, this
approximately $38
million mixed use
project includes a
six-story building with
156 market rate rental
units, parking, and
street level commercial
and retail space for a
total of
238,700 square feet. The
Maven on Broadway
was completed in 2019.
ONE DISCOVERY
SQUARE
One Discovery Square
(formerly known as
Discovery Square Phase
One) is on First Avenue
SW in the “Discovery
Square” subdistrict as
described in the
Development Plan.
Approved in 2017, this
approximately $35 million
bio-science building is a
center of innovation and is
housing companies whose
mission is to accelerate
bioscience and
technology discoveries to
market. The four story,
89,000 square foot
building includes office,
collaborative, and retail
space. As noted above,
this project is the first
phase of achieving a key
component of the
Development Plan:
providing jobs in the
bio-science sector. One
Discovery Square was
completed in 2019.
WELLS FARGO
RENOVATION
This project is a
renovation of a 92,000
square foot existing
building, located in the
“Heart of the City”
subdistrict as described
in
the Development Plan.
Approved in 2018, this
project is a catalyst for
the public realm in
the Heart of the City
subdistrict and includes
connections to the
street and pedestrian
skyway. The renovation
has made
approximately 23,000
additional square feet of
commercial or office
space available. The
project created an
estimated 30
construction
jobs and provided 115
permanent jobs. This
project was completed
in 2020.26
PROJECTS
WITHOUT
DMC
FUNDING
27
CONLEY MAASS BUILDING
A renovated historic building featuring
a restaurant and space for high-tech
companies. The renovation was
completed in 2016.
1ST AVENUE FLATS
A 68-unit affordable housing building,
and all of the units are
income-restricted to persons at or
below 60% of the area median income
opened in 2017.
FLATS ON 4TH
A six-story mixed-use development
consisting of 92 rental apartment units,
with 19 units affordable to persons at
50% of the area median income, and
2,300 square feet of retail space opened
in 2018.RESIDENCE AT DISCOVERY
SQUARE
A six-story, mixed use development
consisting of 143 rental apartment
units, with 20% of the units affordable
to persons at 60% of the area median
income, and 15,400 square feet of
commercial/retail space opened in 2019.
HUE APARTMENTS
A six-story, mixed use development
consisting of 50 rental apartment units
and 2,000 square feet of
commercial/retail space opened in 2020.
TOWNEPLACE SUITES
BY MARRIOT
A 110 room hotel with two levels of
underground parking opened in 2021.
LOFTS AT MAYO PARK
A five-story, 29-unit market-rate rental
apartment project completed in 2017.
501 ON FIRST
A five-story, mixed-use development
consisting of 84 rental apartment units
and 21,000 square feet of
commercial/retail spaces opened in 2018.
EVEN HOTELS AND
STAYBRIDGE SUITES
A 246 room dual-branded hotel opened
in 2021.
UNIVERSITY OF MINNESOTA
ROCHESTER STUDENT
HOUSING
A 400-person-capacity student housing
development created via the renovation of
a former DoubleTree Hotel opened in 2023.
28
FIRST & BANKS
A seven-story, 219-unit rental apartment
development being constructed east of
Soldiers Memorial Field. Site
preparation is underway.
EX
H
I
B
I
T C
ANNUAL CERTIFICATION
OF MAYO CLINIC AND
OTHER PRIVATE
INVESTMENTS
29
As to private investment certifications, in 2024, we certified a total of $146,235,676
for the year ending December 31, 2023, which includes $133,652,089 in Mayo Clinic
investments and $12,583,587 in other private investments. The cumulative total of
Mayo Clinic and other private investments through 2023 is $1,607,368,325.
$146,235,676$133,652,089$12,583,587
Private Investments Total InvestmentMayo Clinic Investments
30
A
31
A
32
33
34
35
Project/Equipment Name
2013 - 2022
Expenditures Reported
Prior Years
Expenditures not
previously reported
2023
Expenditures
Total
Expeditures
reported for 2023
Total Spent as of
December 31st
2023
Mary Brigh East Expansion 2,065,139.65$ -$ -$ -$ 2,065,139.65$
Dermatology Remodel 9,123,648.24$ -$ -$ -$ 9,123,648.24$
Sports Medicine Center 5,666,939.49$ -$ -$ -$ 5,666,939.49$
2915 Warehouse Infrastructure 693,219.52$ -$ -$ -$ 693,219.52$
Core 200 SMH Operating Room Renovation 1,411,411.46$ -$ -$ -$ 1,411,411.46$
Anatomic Pathology Office Remodel 476,041.94$ -$ -$ -$ 476,041.94$
Psychiatry and Psychology Master Plan, Phase 1A - Generos 1,213,985.91$ -$ -$ -$ 1,213,985.91$
Development Remodel 2,679,274.32$ -$ -$ -$ 2,679,274.32$
Bed Tower Modernization MB east 44,118,257.74$ -$ -$ -$ 44,118,257.74$
Domitilla 3 Modernization 7,762,425.78$ -$ -$ -$ 7,762,425.78$
Remodeling laboratory space on Guggenheim 5.265,065.75$ -$ -$ -$ 265,065.75$
Saint Marys Hospital Chiller Addition 4,631,632.46$ -$ -$ -$ 4,631,632.46$
Institute Hills Chiller Replacement 441,903.16$ -$ -$ -$ 441,903.16$
Radiation Oncology Room "E" Linear Accelerator Replaceme 188,793.94$ -$ -$ -$ 188,793.94$
DLMP Phlebotomy Remodel 1,615,648.60$ -$ -$ -$ 1,615,648.60$
Mary Brigh Electrical Upgrades (Phase 3)2,002,781.62$ -$ -$ -$ 2,002,781.62$
SDSC Expansion Construction Only 21,500,990.14$ -$ -$ -$ 21,500,990.14$
Creation of the consolidated freezer and BAP facility at the 2 4,006,693.46$ -$ -$ -$ 4,006,693.46$
Remodeling of multiple laboratories on Guggenheim 8 774,090.58$ -$ -$ -$ 774,090.58$
Four Operating Rooms Off Core 700 3,082,756.73$ -$ -$ -$ 3,082,756.73$
Remodeling within the Metabolomics Core on Alfred 5 616,212.48$ -$ -$ -$ 616,212.48$
Thermo TSQ Triple Quadrapole MS (assets 147506 & 14534 596,292.00$ -$ -$ -$ 596,292.00$
Remodeling within Opus 1 to accommodate space for a new 480,162.90$ -$ -$ -$ 480,162.90$
Employee and Community Health Southeast Clinic 4,326,200.60$ -$ -$ -$ 4,326,200.60$
Cardiac Catheterization Procedure Room 103 Remodel - Sa 412,584.91$ -$ -$ -$ 412,584.91$
Gonda 5, 5th PET/CT Installation & Uptake 301,874.69$ -$ -$ -$ 301,874.69$
Executive, Development and International Program Expansio 1,389,522.23$ -$ -$ -$ 1,389,522.23$
DOM 3/4 Infrastructure Revisions for Remodeling 2,109,759.78$ -$ -$ -$ 2,109,759.78$
Clinical Genome Sequencing, Lab Expansion 296,600.82$ -$ -$ -$ 296,600.82$
Varian Medical Systems (asset 145374)3,334,879.00$ -$ -$ -$ 3,334,879.00$
CMCT and Prev. Med. Relocation Gonda 18 to Mayo East 17 358,383.16$ -$ -$ -$ 358,383.16$
Cancer Center Station Eisenberg 4-3 892,147.20$ -$ -$ -$ 892,147.20$
CT Simulator I Replacement Charlton S-259, S-261 191,170.81$ -$ -$ -$ 191,170.81$
CT Scanner - 5yr (Asset 162815)687,812.80$ -$ -$ -$ 687,812.80$
Charlton 2 Incremental 3T Body Scanner 749,773.48$ -$ -$ -$ 749,773.48$
3T Siemens Skyra MRI (assest 166875, 167065-167082)1,637,261.00$ -$ -$ -$ 1,637,261.00$
SMC, Mary Brigh Main NH, MR-MCR 1.5T Replacement Sca 448,573.83$ -$ -$ -$ 448,573.83$
GE; 1.5T Optima MR450W (assest 165084, 165346-165359 1,130,292.00$ -$ -$ -$ 1,130,292.00$
SMC, Mary Brigh Main NH, MR-MCR 1.5T Replacement Sca 595,824.88$ -$ -$ -$ 595,824.88$
DISCOVERY MRI Mary Brigh (assets 169437,171643, 1716 1,513,704.55$ -$ -$ -$ 1,513,704.55$
Renovation Mary Brigh Main, PACU - Phase 4 2,059,423.01$ -$ -$ -$ 2,059,423.01$
SMH Mary Brigh East Corridor Relocation 4,918,632.07$ -$ -$ -$ 4,918,632.07$
Dr. Lee Diamond Reactor Lab Remodel on Med Sci SL 226,408.57$ -$ -$ -$ 226,408.57$
MR-RO-CN-1-MR/PET installation 781,558.09$ -$ -$ -$ 781,558.09$
GE; DISCOVERY MR750 PET (Assets 149876, ,150145-150 3,698,538.02$ -$ -$ -$ 3,698,538.02$
CT Scanner Replacements (3L, 3Z & 4J) - somatom - CH 2 561,057.62$ -$ -$ -$ 561,057.62$
Somatom Force CT (Asset 157628)1,831,372.00$ -$ -$ -$ 1,831,372.00$
Linear Acc Replace Rm "C"185,937.00$ -$ -$ -$ 185,937.00$
VARATHON MEDICAL; TRUE BEAM (Asset 162800)2,895,908.00$ -$ -$ -$ 2,895,908.00$
SIEMENS; CT EDGE (Asset 163463)856,459.02$ -$ -$ -$ 856,459.02$
SIEMENS; SOMATOM DEFINITION (Asset 164325)862,578.20$ -$ -$ -$ 862,578.20$
Incremental MRI Body Scanner 603,049.87$ -$ -$ -$ 603,049.87$
SIEMENS; SKYRA 3TMRI (Asset 157191, 157322-157339)1,859,239.00$ -$ -$ -$ 1,859,239.00$
GO3 Build 2 CT Bays 656,293.35$ -$ -$ -$ 656,293.35$
SIEMENS; SOMATOM FORCE CT (Asset 149843)1,750,000.00$ -$ -$ -$ 1,750,000.00$
PHILIPS; XPER FD20 (Assets 147302, 147339, 147392)1,649,213.30$ -$ -$ -$ 1,649,213.30$
Neurology Renovation, Mayo 8 4,989,615.93$ -$ -$ -$ 4,989,615.93$
Mayo 8 - Lobby Remodel 1,137,290.91$ -$ -$ -$ 1,137,290.91$
Vascular OR Core 801 SMH 1,059,949.88$ -$ -$ -$ 1,059,949.88$
Rad Vascular Imaging Ste 90 144,461.29$ -$ -$ -$ 144,461.29$
SIEMENS MEDICAL; ARTIS ZEE (Asset 146871,146872)985,408.00$ -$ -$ -$ 985,408.00$
CT MBM Incremental Interventional CT 1,268,114.01$ -$ -$ -$ 1,268,114.01$
SIEMENS; DEFINITION EDGE CT (Asset 148622, 148623)1,315,697.00$ -$ -$ -$ 1,315,697.00$
CH N Neuro Scanner CN l-119C 561,796.54$ -$ -$ -$ 561,796.54$
SIEMENS; PRISMA 3T MRI and Accessories (Asset 157677 2,241,875.00$ -$ -$ -$ 2,241,875.00$
USPS Building Purchase (Asset 156757, 156758)2,185,017.25$ -$ -$ -$ 2,185,017.25$
Land for Ronald McDonald House (Asset 147588, 147589)1,000,203.16$ -$ -$ -$ 1,000,203.16$
GE; DISCOVERY 710 PET Scanner (Asset 148389)2,103,046.58$ -$ -$ -$ 2,103,046.58$
Fixed Wing Building 533,262.51$ -$ -$ -$ 533,262.51$
Hematopathology Consolidation, Hilton Building 7th Floor 2,018,886.34$ -$ -$ -$ 2,018,886.34$
Vacate Ei 7-1/7-2 Dermatology Phototherapy Phototherapy R 439,830.58$ -$ -$ -$ 439,830.58$
Relocation of Respiratory Care Unit 1,184,489.68$ -$ -$ -$ 1,184,489.68$
Linen Service Depot-3939 Building 1,882,309.32$ -$ -$ -$ 1,882,309.32$
Media On Demand Replacement Project 699,440.19$ -$ -$ -$ 699,440.19$
Temporal Bone Lab remodel (original $600K)126,259.12$ -$ -$ -$ 126,259.12$
Dr. Misra Laboratory, Gugg 6 314,232.69$ -$ -$ -$ 314,232.69$
Permitted Expenditures from July 1, 2013 to December 31, 2023
Project/Equipment Name
2013 - 2022
Expenditures Reported
Prior Years
Expenditures not
previously reported
2023
Expenditures
Total
Expeditures
reported for 2023
Total Spent as of
December 31st
2023
Permitted Expenditures from July 1, 2013 to December 31, 2023
Lab Remodel Gugg 17 and 18 507,816.33$ -$ -$ -$ 507,816.33$
Space assignment for Dr. Burns and Dr. Scarisbrick surgery –372,474.03$ -$ -$ -$ 372,474.03$
Guggenheim 13 Space Remodel 286,997.78$ -$ -$ -$ 286,997.78$
Charlton Desk R Lobby Remodel 397,223.24$ -$ -$ -$ 397,223.24$
Jacobson Building Operating Rooms 23,568,520.11$ -$ -$ -$ 23,568,520.11$
Charlton 1 PET/CT (DRX- 1 Replacement) E-3006 132,948.22$ -$ -$ -$ 132,948.22$
GE - Discovery PET/CT 710 (Asset 178322)1,500,726.20$ -$ -$ -$ 1,500,726.20$
Gastroenterology & Hepatology Renovation 7,362,527.52$ -$ -$ -$ 7,362,527.52$
Stryker Sales Corporation - Alfred 6 Integration (Assets 1805 1,126,322.95$ -$ -$ -$ 1,126,322.95$
Philips Fluoroscopy (Assets 181122-181123)1,335,625.38$ -$ -$ -$ 1,335,625.38$
7T MRI Scanner 1,916,246.30$ -$ -$ -$ 1,916,246.30$
SMH Campus Radiology Consolidation 23,568,544.51$ -$ -$ -$ 23,568,544.51$
Mary Brigh East Tower Additional Floors 17,320,752.84$ -$ -$ -$ 17,320,752.84$
Eisenberg 7-1 and 7-2 6,312,270.07$ -$ -$ -$ 6,312,270.07$
Pre Post Expansion on Gonda 2 Gonda 2-467 266,028.69$ -$ -$ -$ 266,028.69$
Franklin Heating Station Chiller #4 Replacement 2,286,167.61$ -$ -$ -$ 2,286,167.61$
Mary Brigh 4, Room 106 Heart Rhythm Services Remodeling 538,995.91$ -$ -$ -$ 538,995.91$
Siemens - Fluoroscopy 106 (Asset 172294)1,508,299.00$ -$ -$ -$ 1,508,299.00$
Mary Brigh 4, Room 111 Heart Rhythm for Equipment Replac 217,834.13$ -$ -$ -$ 217,834.13$
Siemens - Siemens fluoroscopy room 111 (Asset 179164)801,942.00$ -$ -$ -$ 801,942.00$
Charlton North MR-MCR NU 3T Replacement Scanner 354,930.50$ -$ -$ -$ 354,930.50$
MAGNETOM Prisma 3T (asset 173601)2,184,842.00$ -$ -$ -$ 2,184,842.00$
Charlton North MR-MCR NT 1.5 Replacement Scanner 587,509.18$ -$ -$ -$ 587,509.18$
SIEMENS; 1.5T OPEN 70CM (assets 169436,171642,17165 1,188,732.00$ -$ -$ -$ 1,188,732.00$
Research Biplane Angiography System Replacement 78,970.28$ -$ -$ -$ 78,970.28$
SIEMENS; ARTIS ZEE BIPLANE (asset 165045-165046)1,158,442.00$ -$ -$ -$ 1,158,442.00$
41st Street Professional Complex 9,831,862.38$ -$ -$ -$ 9,831,862.38$
Precision Medicine Initiative
8,392,748.33$ -$ -$ -$ 8,392,748.33$
Motoman (Asset 184543)4,031,557.00$ -$ -$ -$ 4,031,557.00$
Autogen (Assets 175437-175447)2,023,074.27$ -$ -$ -$ 2,023,074.27$
Hamilton Star (Assets 171685, 172326)440,763.20$ -$ -$ -$ 440,763.20$
Hamilton Bios Freezer (Asset 186447)5,127,252.84$ -$ -$ -$ 5,127,252.84$
PerkinElmer Spectrophotometer (Asset 169459)39,920.00$ -$ -$ -$ 39,920.00$
Hamilton Robotic Upgrades 45,951.00$ -$ -$ -$ 45,951.00$
Hamilton Star (Asset 179090)235,653.10$ -$ -$ -$ 235,653.10$
Hamilton Tube Handler - REQ# 2027700 34,358.20$ -$ -$ -$ 34,358.20$
Hamilton Capper/Decapper Motoman Line (Asset 183593)77,010.00$ -$ -$ -$ 77,010.00$
Hamilton Star EasyBlood Liquid Handler (Assets 181647-181 776,489.90$ -$ -$ -$ 776,489.90$
Verso M2 - (Asset 179334)729,256.34$ -$ -$ -$ 729,256.34$
Hamilton EasyBlood Units (Assets 176522-176524)721,818.90$ -$ -$ -$ 721,818.90$
Hamilton Bios PMI #3 (PO 20028966)4,030,363.09$ -$ -$ -$ 4,030,363.09$
Hamilton Freezer Bios HL20 (PO 20031301)2,509,226.94$ -$ -$ -$ 2,509,226.94$
Mary Brigh East Operating Rooms 727,108.67$ -$ -$ -$ 727,108.67$
Siemens - Artis Zeeog Card. Thorax (Asset 180570)1,466,062.00$ -$ -$ -$ 1,466,062.00$
GE - Discovery IGS 740 (Asset 179172)1,363,946.45$ -$ -$ -$ 1,363,946.45$
Gonda 14 Radiographic Room DR Conversion E15-3011 RA 112,034.00$ -$ -$ -$ 112,034.00$
Gonda 14-158 Duo DR Replacement, E15-3014 RAD-MCR-154,034.23$ -$ -$ -$ 154,034.23$
West Pre/Post Remodel, Mary Brigh Main 2,022,954.79$ -$ -$ -$ 2,022,954.79$
Radiology - Charlton 1, VG6 Replacement E15-3003 138,704.91$ -$ -$ -$ 138,704.91$
GE; DISCOVERY 670 PRO 948,408.45$ -$ -$ -$ 948,408.45$
Cardiovascular Diseases Patient Appointment Coordinator 200,409.53$ -$ -$ -$ 200,409.53$
Reproductive Endocrinology and Infertility Relocation 2,378,634.23$ -$ -$ -$ 2,378,634.23$
Remodel Mary Brigh 6 to increase Medical ICU capacity 1,954,174.55$ -$ -$ -$ 1,954,174.55$
Mayo Building – Substation MA-E-5 Replacement 612,251.93$ -$ -$ -$ 612,251.93$
Pharmacokinetics Core Relocation 469,019.61$ -$ -$ -$ 469,019.61$
Remodel Baldwin 1 for ISP / Baldwin 1 Entry Vestibule Repla 4,186,165.25$ -$ -$ -$ 4,186,165.25$
Mycology/TB Expansion Hilton 8 3,256,953.15$ -$ -$ -$ 3,256,953.15$
CMIL/NIL Relocation and Expansion, Hilton 7 1,511,410.88$ -$ -$ -$ 1,511,410.88$
Human Cellular Therapy N2 Tank Storage Facility 491,016.90$ -$ -$ -$ 491,016.90$
Conversion of OR 609 from Hybrid OR to Coventional OR 496,613.67$ -$ -$ -$ 496,613.67$
Gonda 2 Decontamination Space Remodeling 285,911.99$ -$ -$ -$ 285,911.99$
Eisenberg AHU S-55 Replacement to Support REI Practice R 803,858.23$ -$ -$ -$ 803,858.23$
41st Street.4,892,701.70$ -$ -$ -$ 4,892,701.70$
Guggenheim 15-02 integration of core facility and laboratory 368,357.82$ -$ -$ -$ 368,357.82$
Aging Center Space Remodel, Guggenheim 7 551,139.89$ -$ -$ -$ 551,139.89$
Stabile 11 Lab construction - Revzin 314,372.07$ -$ -$ -$ 314,372.07$
Installation of Open MRI System, Opus 1 590,676.24$ -$ -$ -$ 590,676.24$
Lab renovation ST 11, CRM recruit, Dr. Quinn Peterson 121,165.35$ -$ -$ -$ 121,165.35$
Saint Marys Campus Complex Intervention Unit 2,237,613.54$ -$ -$ -$ 2,237,613.54$
E16-3005 MR MCR-GO3 1.5 MR Scanner #1 1,276,416.38$ -$ -$ -$ 1,276,416.38$
Siemens - MAGNETOM Aera (Asset 182886; 182863-18288 1,688,565.00$ -$ -$ -$ 1,688,565.00$
RMC S-8 AHU Replacement 599,281.36$ -$ -$ -$ 599,281.36$
SMOP/Radiology Desk 3,571,641.14$ -$ -$ -$ 3,571,641.14$
Mary Brigh Main SMC Radiology Hybrid Procedural Suite - M 2,180,505.45$ -$ -$ -$ 2,180,505.45$
Philips - Ingenia 1.5T Omega HP R5 Q1 (Asset 183632; 183 1,474,847.09$ -$ -$ -$ 1,474,847.09$
36
Project/Equipment Name
2013 - 2022
Expenditures Reported
Prior Years
Expenditures not
previously reported
2023
Expenditures
Total
Expeditures
reported for 2023
Total Spent as of
December 31st
2023
Permitted Expenditures from July 1, 2013 to December 31, 2023
SMH Bulk Medical Gas Systems Replacement 977,452.73$ -$ -$ -$ 977,452.73$
Mary Brigh Main WestEntrance Upgrades 1,136,995.31$ -$ -$ -$ 1,136,995.31$
Neurology EEG/Epilepsy Remodel - DO 2 & JO 2 1,149,596.73$ -$ -$ -$ 1,149,596.73$
Gugg 13 Remodel 484,303.51$ -$ -$ -$ 484,303.51$
Plummer Library Renovations Phase 3&4 433,105.21$ -$ -$ -$ 433,105.21$
Philips Healthcare (Asset 196890)423,890.40$ -$ -$ -$ 423,890.40$
Office of Information Security Consolidation 1,117,001.99$ -$ -$ -$ 1,117,001.99$
Brackenridge Education Room Build out 526,051.76$ -$ -$ -$ 526,051.76$
USP 800 Haszardous Drug Handling Remodel 1,045,577.42$ -$ -$ -$ 1,045,577.42$
SMC Chilled Water Distribution Loop 934,150.96$ -$ -$ -$ 934,150.96$
Joseph Bldg Scope A Centralized Infrastructure 3,276,910.54$ -$ -$ -$ 3,276,910.54$
RMC S-5 Air Handling Unit Replacement 952,822.05$ -$ -$ -$ 952,822.05$
Tissue Typing Lab Pre-DNA Extraction Contamination
Control 353,779.74$ -$ -$ -$ 353,779.74$
Retrofitting Med Sci 5 large animal facility; DCM Phase I 637,314.97$ -$ -$ -$ 637,314.97$
Consolidation/Relocation of Revenue Cycle 2,129,432.35$ -$ -$ -$ 2,129,432.35$
Gonda 15 Conversation of Family Waiting Room to
Pre/Post Space 587,084.72$ -$ -$ -$ 587,084.72$
GU 5-Chakraborty lab construction, remodel west bay of GU
5 848,596.35$ -$ -$ -$ 848,596.35$
SMC OR 604,608, and 600 Decontamination Room
Remodel, MB 1 1,118,164.67$ -$ -$ -$ 1,118,164.67$
E-18-3009 NM-MCR-CH1-R-PET/CT DRX2 159,572.79$ -$ -$ -$ 159,572.79$
SC18-3002 RAD-MCR-MAE4-I-Thoracic Reading Rooms 253,593.73$ -$ -$ -$ 253,593.73$
Medical Sciences 3 (Dr. A. Pandey and Proteomics Core)231,534.87$ -$ -$ -$ 231,534.87$
Pandey Biosafety Hoods--REQ#--R2050798 (PO
20033617) (Assets 190234-190235)13,362.24$ -$ -$ -$ 13,362.24$
Pandey BIOGNOSYS License--REQ#--R2050806 (PO
20033762) (Asset 192318)12,000.00$ -$ -$ -$ 12,000.00$
Pandey Fusion Lumos_2018--REQ#--R2050567 (PO
20033606) (Assets 190958-190960, 192300)1,308,079.83$ -$ -$ -$ 1,308,079.83$
Pandey Lab Fisher Capital 1--REQ#--R2049967 (PO
20033266) (Assets 189861,190212,190906,193852)57,209.39$ -$ -$ -$ 57,209.39$
Pandey VWR shaker--REQ#--R2050783 (PO 20033611)
(Asset 190242)6,893.59$ -$ -$ -$ 6,893.59$
Pandey Nikon scope--REQ#--R2050789 (PO 20033602)
(Asset 190249)18,799.83$ -$ -$ -$ 18,799.83$
Centralized Distribution of Utilities 41st Street 4,944,173.53$ -$ -$ -$ 4,944,173.53$
Hilton Substation Replacement 2,479,367.29$ -$ -$ -$ 2,479,367.29$
E17-3006 CT-MCR-GO3-R-3V Scanner 59,889.05$ -$ -$ -$ 59,889.05$
Siemens Somation Force (Asset 185457)1,930,400.00$ -$ -$ -$ 1,930,400.00$
Psychiatry & Psychology Master Plan Phase II 1,482,321.51$ -$ -$ -$ 1,482,321.51$
Upgrade of Medium Voltage Switch Center 1,034,828.91$ -$ -$ -$ 1,034,828.91$
Mary Brigh Kitchen Replacement East Tower Ground Level 1,646,319.22$ -$ -$ -$ 1,646,319.22$
E16-3010 MCR-DT-I-Incremental Downtown CT Scanner
#1 1,726,161.72$ -$ -$ -$ 1,726,161.72$
Siemens; Somatom Force CT (Asset 188881)2,084,921.00$ -$ -$ -$ 2,084,921.00$
E16-3009 RAD-MCR-GO14 Radiographic Room DR
Conversion 308,593.62$ -$ -$ -$ 308,593.62$
Paitent Lifts for Mary Brigh PCU 5C & 5F 829,680.46$ -$ -$ -$ 829,680.46$
Mary Brigh Shell Space Fit-Up (NICU & PICU)411,886.88$ -$ -$ -$ 411,886.88$
Antibody/Protein Immunology & Cinical Immunoassay Lab
Relocation 3,644,272.87$ -$ -$ -$ 3,644,272.87$
Saint Marys Dialysis Unit 3,452,808.69$ -$ -$ -$ 3,452,808.69$
E17-3005 MR-MCR-MBM-R-MR29 Replacement 780,175.64$ -$ -$ -$ 780,175.64$
GE; Signa Artist 1.5T (Assets 188037-188049)990,208.00$ -$ -$ -$ 990,208.00$
Enhanced Critical Care Expansion 171,586.57$ -$ -$ -$ 171,586.57$
Relocation of Dr. Rajiv Kumar’s Laboratory to GU 6, Drs. J.
Grande and V. Lowe, and C-SiG 280,649.20$ -$ -$ -$ 280,649.20$
Gonda 19 space remodel 267,061.02$ -$ -$ -$ 267,061.02$
SMC Mary Brigh Surgical Services AHU Replacement 2,047,419.63$ -$ -$ -$ 2,047,419.63$
Mary Brigh 3rd Floor OR Rooms Fit Out 24,543,539.46$ -$ -$ -$ 24,543,539.46$
Research PET/CT Charlton 6 2,291,819.29$ -$ -$ -$ 2,291,819.29$
Biograph Vision 600 (asset 192309)2,015,000.00$ -$ -$ -$ 2,015,000.00$
REO Makeup and Export Water Tank 831,767.94$ -$ -$ -$ 831,767.94$
Global Business Solutions Consolidation 353,569.35$ -$ -$ -$ 353,569.35$
RST SMC/RMC Visitior Cafeteria 20,786.96$ -$ -$ -$ 20,786.96$
Mail Order Pharmacy Relocation 7,545,680.99$ -$ -$ -$ 7,545,680.99$
Pharmacy Automation - Innovation (Asset 195397)2,722,535.76$ -$ -$ -$ 2,722,535.76$
37
38
Project/Equipment Name
2013 - 2022
Expenditures Reported
Prior Years
Expenditures not
previously reported
2023
Expenditures
Total
Expeditures
reported for 2023
Total Spent as of
December 31st
2023
Permitted Expenditures from July 1, 2013 to December 31, 2023
Discovery Square 11,282,293.00$ -$ -$ -$ 11,282,293.00$
SMC Modernization and Growth 131,478,396.07$ -$ 7,366,087.95$ 7,366,087.95$ 138,844,484.02$
Sports Medicine Relocaton to DAHLC 4 1,059,766.35$ -$ -$ 1,059,766.35$
Archives Warehouse Tissue Registry Expansion 6,288,919.63$ -$ -$ 6,288,919.63$
Redesign of Jacobson Locker Room 186,270.76$ -$ -$ 186,270.76$
Remodel of GIH Research Space GU 17, Phase 1 1,287,712.21$ -$ -$ 1,287,712.21$
SMH River Room 861,050.41$ -$ -$ 861,050.41$
RST E18-3008 MR-MCR-GO3-I-3T MR Scanner 851,472.87$ -$ -$ 851,472.87$
Discovery MI 25CM (Asset 189900)2,697,744.00$ -$ -$ 2,697,744.00$
Radiology Office Space and 3D Lab on Joseph 6 3,470,339.73$ -$ -$ 3,470,339.73$
SMC Decontamination Remodel Equipment and
Replacement 1,285,541.44$ -$ -$ 1,285,541.44$
RST Impact Lab Expansion CAR-T Cell Initiative 5,722,895.79$ -$ 18,879.92$ 18,879.92$ 5,741,775.71$
0068-18 E18-3021-RAD-MCR-MSH-MMB-R-RAD DR
Conversion 413,802.12$ -$ -$ 413,802.12$
Eisenberg Dumbwaiter Replaceme 2,743,257.67$ -$ -$ 2,743,257.67$
Administrative Drop In Center 799,099.21$ -$ -$ 799,099.21$
Dr. Pipe Lab-DiscSq1 849,865.92$ -$ -$ 849,865.92$
Mayo Clinic Food Service, RMC 531,733.01$ -$ -$ 531,733.01$
3D Metal Printer for Div of Engineering 720,429.73$ -$ -$ 720,429.73$
41st Street Complex Employee Cafeteria 5,716,239.14$ -$ -$ 5,716,239.14$
RMC Eisenberg AHU-S62 Replacement 1,020,508.13$ -$ -$ 1,020,508.13$
41st St Complex Infrastructure Upgrades- Phase 3 2,050,934.06$ -$ -$ 2,050,934.06$
Joseph 1 Northwest Local Infrastructure-SMC River Room
Expansion 110,586.26$ -$ -$ 110,586.26$
0050-19 RST Creation of New MED 13 Hospital Service 5,028,032.77$ -$ -$ 5,028,032.77$
Mayo 11 Remodel 7,283,353.56$ -$ -$ 7,283,353.56$
RST SMC Sterile Processing Renovations 702,992.55$ -$ -$ 702,992.55$
Opus MRI install 153,097.45$ -$ -$ 153,097.45$
3T GE Signa MRI (Assets 200174-200180; 200183)1,506,529.08$ -$ -$ 1,506,529.08$
Healthcare Technology Management Expansion at 1937
Building 261,827.59$ -$ -$ 261,827.59$
RST Practice Optimization Acceleration 240,840.07$ -$ -$ 240,840.07$
E17-3007 DE-MCR-CT-MBM-I-MP Hybrid Suite Phase 2 1,292,174.34$ -$ -$ 1,292,174.34$
PHILIPS; AZURION 7 M20 (Asset 192750)1,259,678.14$ -$ -$ 1,259,678.14$
Human Cellular Therapy Expansion 2,652,952.98$ -$ 7,009.31$ 7,009.31$ 2,659,962.29$
Revenue cycle consolidation / relocation 3,978,716.31$ -$ -$ 3,978,716.31$
Subway Refresh Project 20,168,310.33$ -$ 2,073.51$ 2,073.51$ 20,170,383.84$
GE; SIGNA PREMIER 3T (Assets 197210; 197272-197290)2,635,208.68$ -$ -$ 2,635,208.68$
Remodel Mayo W15 Lobby and Reception 1,250,873.00$ -$ -$ 1,250,873.00$
Block 6 Parking Ramp Disco Square 32,543,394.71$ -$ 1,466,213.38$ 1,466,213.38$ 34,009,608.09$
Saint Marys Hopsital Shared Procedural/Simulation/Techolog 2,217,737.54$ -$ -$ 2,217,737.54$
RMC Surgical Remodel Phase 2 of 5 17,501,791.55$ -$ 3,789.87$ 3,789.87$ 17,505,581.42$
Patient Lift Installations Mary Brigh 6D 515,547.62$ -$ -$ -$ 515,547.62$
Gonda 9 GIH Endoscopy Remodel 2,119,372.99$ -$ -$ -$ 2,119,372.99$
E18-3004 CT-MCR-ETM-I-MP-HPS-Phase 3 2,470,853.52$ -$ 24,125.36$ 24,125.36$ 2,494,978.88$
2018 Nurse Call System Replacement 271,831.84$ -$ -$ -$ 271,831.84$
CV Echo/Stress Consolidation with Renovation on Joseph 4 4,845,441.25$ -$ 7,431.56$ 7,431.56$ 4,852,872.81$
E19-3007 MR-CMR-NCL-I 3T 714,188.30$ -$ -$ 714,188.30$
SIEMENS; MAGNETOM VIDA ( Assets 203494-203498; 203 2,303,782.00$ -$ -$ 2,303,782.00$
E19-3004 MR-MCR-CNL-R-NP MR Scanner 517,723.41$ -$ -$ 517,723.41$
GE; SIGNA PREMIER 3T (Assets 206384,207102,207104,2 2,350,807.00$ -$ -$ 2,350,807.00$
Saint Marys Campus Peace Garden Landscaping 1,414,062.95$ -$ -$ 1,414,062.95$
EI 07 Eisenberg 7-4 Remodel 2,965,890.17$ -$ -$ 2,965,890.17$
FF 01 Comprehensive Occupational Recovery and Care Coo 1,464,900.83$ -$ -$ 1,464,900.83$
GE Inpatient Units Safety Updates and Renovation 4,186,184.14$ -$ -$ 4,186,184.14$
GE 03 Generose 3W and 3E Safety and Renovations 3,624,730.31$ -$ -$ 3,624,730.31$
GO 12 Center for Aesthetic Medicine and Surgery 1,501,853.35$ -$ -$ 1,501,853.35$
GO 03 SC19-3003 MR-MCR-GO3-I-Patient Prep Remodel 1,660,015.18$ -$ -$ 1,660,015.18$
GO 06 Exam Buildout 4,452,955.80$ -$ -$ 4,452,955.80$
GO Increase in Capacity for Chemo Chairs 2,332,557.63$ -$ -$ 2,332,557.63$
GO 12 Medivator Redesign 300,845.46$ -$ -$ 300,845.46$
JO Relocation of Occupants to Consolidate Echo Stress 96,170.24$ -$ -$ 96,170.24$
MB 01 Frozen Section Laboratory Remodel 3,033,319.01$ -$ 34,360.00$ 34,360.00$ 3,067,679.01$
MB MN SC19-3002 DE-MCR-MBM-R-MP Reading Rooms 657,674.41$ -$ -$ 657,674.41$
MB Core 500 West OR Renovation - North and South 3,304,053.52$ -$ -$ 3,304,053.52$
SI 04 Conferencing Center Refurbish 3,386,764.63$ -$ -$ 3,386,764.63$
39
Project/Equipment Name
2013 - 2022
Expenditures Reported
Prior Years
Expenditures not
previously reported
2023
Expenditures
Total
Expeditures
reported for 2023
Total Spent as of
December 31st
2023
Permitted Expenditures from July 1, 2013 to December 31, 2023
E19-3005 CT-MCR-DT#1-I-CT Scanner 631,036.71$ -$ 631,036.71$
SIEMENS; SOMATOM DEFINITION (Asset 205102)1,979,199.00$ -$ 1,979,199.00$
Outpatient Hematology & CAR-T Move to Charlton-Eisenberg 4,258,056.97$ -$ 4,258,056.97$
E21-3005 VNI-MCR-ETMN-R-Angio Rm 6 101,325.23$ -$ 101,325.23$
SIEMENS; ARTIS Q (Asset 209373)921,342.00$ -$ 921,342.00$
GO 15 Pain Procedure Room Fluoro Equipment Replacemen 201,242.61$ -$ 201,242.61$
JB Shell Space to an Incremental OR 667,800.76$ -$ 667,800.76$
RST SDSC Office to Lab Conversion 3,629,887.53$ -$ 3,629,887.53$
OP SL Opus and Kellen Utility 8,811,658.08$ 8,425,470.39$ 8,425,470.39$ 17,237,128.47$
Kellen Building 51,295,794.16$ 30,062,855.07$ 30,062,855.07$ 81,358,649.23$
General Care Pediatric Unit Pl 698,670.34$ 228.60$ 228.60$ 698,898.94$
E21-3009 Rad-MCR-BA-SL-137-&13 809,292.62$ -$ 809,292.62$
CH E21-X-CH-R-Varian-Ethos Lin 353,775.21$ 226,856.90$ 226,856.90$ 580,632.11$
CH E20-X-CH-R-Siemens-CT Scann 264,257.24$ 133,105.88$ 133,105.88$ 397,363.12$
DO Domitilla Cart Washer 401,803.49$ -$ 401,803.49$
EI Expanded Space for Home Dia 165,916.07$ -$ 165,916.07$
E22-3032 NM-MCR-EI-I-Theranost 1,232,495.36$ 1,352,915.34$ 1,352,915.34$ 2,585,410.70$
FF ECH Northwest Clinic Phase 884,252.84$ 137,790.63$ 137,790.63$ 1,022,043.47$
FR GT Francis Staff Cafe & By 1,534,248.08$ 27,746.28$ 27,746.28$ 1,561,994.36$
FR 03 Lift Installation Peds E 362,341.50$ -$ 362,341.50$
GO 10 Remodel Chemo Pharmacy f 552,363.88$ -$ 552,363.88$
GO Remodel Oncology Team Space 651,587.06$ 1,608.75$ 1,608.75$ 653,195.81$
E22-3004 MR-MCR-GO3-R-NY Repla 97,070.00$ 966,844.65$ 966,844.65$ 1,063,914.65$
HA 05 Data Center Cooling Equi 710,971.89$ -$ 710,971.89$
HI 05 CGSL Expansion on Hilton 1,267,936.02$ 103,706.19$ 103,706.19$ 1,371,642.21$
MA 04 Remodel Finish Updates o 141,080.16$ 1,019,200.57$ 1,019,200.57$ 1,160,280.73$
MA 04 Remodel of Instrumentati 267,719.42$ -$ 267,719.42$
MA 17 International Exam Room 1,055,262.05$ 12,920.31$ 42,381.17$ 55,301.48$ 1,110,563.53$
E22-3012 CT-MCR-MA3-42W-I-CT S 335,834.54$ 2,235.86$ 2,235.86$ 338,070.40$
MB SMC Core 400 West OR Renova 2,211,624.68$ 29,689.50$ 29,689.50$ 2,241,314.18$
MB Nursing Simulation and Skil 1,802,518.17$ 27,724.76$ 27,724.76$ 1,830,242.93$
MB SMC IORT 378,631.65$ 69,816.37$ 69,816.37$ 448,448.02$
MB Procedure Room Remodel 108 51,819.10$ 443,512.50$ 443,512.50$ 495,331.60$
NT Nassef Tower Kitchen Remode 306,172.33$ 176,967.08$ 176,967.08$ 483,139.41$
Siebens 4 Food Services Server 1,173,299.18$ -$ 1,173,299.18$
Language Services Space 487,370.93$ -$ 487,370.93$
Palliative Medicine Outpatient 185,123.81$ 7,817.81$ 7,817.81$ 192,941.62$
Mayo Clinic Blood Donor Progra 286,649.94$ 526,478.93$ 526,478.93$ 813,128.87$
Gonda 6 Echo-Exam, Mayo 6 Core 2,861,177.64$ 912.05$ 912.05$ 2,862,089.69$
Brace Shop Relocation from EI 195,079.60$ -$ 195,079.60$
Relocation of Loading Dock for 12,731,732.36$ 431,335.07$ 431,335.07$ 13,163,067.43$
Utility Tunnel Extension, Pede 13,333,688.59$ 1,196,342.87$ 1,196,342.87$ 14,530,031.46$
Mayo Clinic Store - Rochester 1,368,800.09$ 60,995.67$ 60,995.67$ 1,429,795.76$
IHF Infrastructure Phase 1 156,812.01$ 215,658.82$ 996,541.51$ 1,212,200.33$ 1,369,012.34$
GO 15 Incremental Procedure Room 514,885.06$ -$ 514,885.06$
SDSC Employee Cafeteria 4,919,859.04$ -$ 4,919,859.04$
Allergy Procedural Area (L-15) Revnovation 910,183.44$ -$ 910,183.44$
Outpatient Eisenberg Pharmacy Relocation 724,993.73$ -$ 724,993.73$
CH 01 E19-3008 NM-MCR-CH1-265J-I-PET CT6 and Uptak 205,103.94$ -$ 205,103.94$
GO Food Services Catering Area Remodeling 335,830.01$ -$ 335,830.01$
HI Deionized Water Distribution 3,060,187.00$ 28,117.60$ 28,117.60$ 3,088,304.60$
Jo Infrastructure 2019 Scope B 1,027,364.71$ -$ 1,027,364.71$
MB 07 Patient Lift Installation for MB 7BG 544,176.65$ 8,629.84$ 8,629.84$ 552,806.49$
MB Gamma Knife Upgrade 290,258.75$ -$ 290,258.75$
MB 5D-E CONVERTING TO NICU 2,813,613.24$ -$ 2,813,613.24$
PP SMC Essential Power Controls 1,770,669.72$ -$ 1,770,669.72$
Exterior LED Lighting Energy Efficiency Improvement - Expen 547,189.43$ -$ 547,189.43$
IV Transfusion Specialty Team Space 611,332.26$ -$ 611,332.26$
NovaSeq 792,850.00$ -$ 792,850.00$
CT-MCR-MA3-42W-I-CT Scanner and Inj 1,000,000.00$ -$ 1,000,000.00$
NM-MCR-EI-I-Theranostics Treatment Center- Phase 2 - Equ 1,248,423.99$ -$ 1,248,423.99$
RAD-MCR-MA16-R-Siemens Peds Fluoro Rm 499,797.00$ -$ 499,797.00$
Rapids Food Service 210,072.77$ -$ 210,072.77$
RAD-MCR-BA-SL-137-&138 R-Rad Rm DR Conv (2) 343,005.00$ -$ 343,005.00$
Varian 77,000.01$ -$ 77,000.01$
Mayo Loading Dock Safety and Parking -$ 1,108,427.87$ 20,265.51$ 1,128,693.38$ 1,128,693.38$
City Water Connection to IHRF 517.50$ 1,374,390.58$ 1,374,908.08$ 1,374,908.08$
RST Francis 4th Tower Remodel 18,108.78$ 83,324.64$ 101,433.42$ 101,433.42$
Patient Lift Installation Mary Brigh 5B&G 46,493.08$ 46,493.08$ 46,493.08$
AW Slide Scanning Expansion 39,010.13$ 166,093.69$ 205,103.82$ 205,103.82$
BA DOE Micro-fabrication and SLS 3D Printer Facility 161,957.52$ 597,377.95$ 759,335.47$ 759,335.47$
DA DAHLC Locker Room Renovation 81,559.38$ 64,205.90$ 145,765.28$ 145,765.28$
DO DS-4 and DS-6 AHU Replacement 2,422.66$ 3,514,742.34$ 3,517,165.00$ 3,517,165.00$
EI LO RMC Eisenberg Lobby Coffee Kiosk 34,020.00$ 276,745.00$ 310,765.00$ 310,765.00$
EI RMC Core 8 Renovations - East 10,936,750.10$ 10,936,750.10$ 10,936,750.10$
FF Air Handler Replacement 7,894.15$ 1,702,921.77$ 1,710,815.92$ 1,710,815.92$
GE DHW DCW Waste and Vent Piping 1,008,762.19$ 1,008,762.19$ 1,008,762.19$
40
1
2
3
4
5
6
7
8
9
For all other Expenditures:
Certification of Expenditure
Destination Medical Center
For Calendar Year 2023
Due to Commissioner of Employment and Economic Development (DEED) by April 1,2024
The Medical Business Entity and the Destination Medical Cent er Corporation (DMCC) Board of Directors (assisted by
the City of Rochester) hereby submit to the Department of Employment and Economic Development (DEED) the
following report for expenditures that relate to the Destination Medical Center (DMC) Development for the calendar
year 2023, and the certifications required to support the documentation under the City of Rochester Commissioner of
Employment and Economic Development State Infrastructure Aid Agreement.
$133,652,089.33
$12,583,587.00
$146,235,676.33
Total Expenditures Reported This Year by Medical Business Entity1
Total Expenditures Reported This Year for other Private Entities1,2
TOTAL Expenditures This Year
Expenditures Reported this Year
All Expenditures claimed since June 30, 2013
State Aid Qualified for This Year (local government match also required)
General State Infrastructure Aid Qualified for (Box 7 multiplied by .0275)$38,702,628.94
$1,461,132,648.74
$146,235,676.33
$1,607,368,325.07
$1,407,368,325.07
Previous Years Expenditures (cumulative)
TOTAL Expenditures This Year3 (from Box 3)
All Claimed Expenditures as of 12/31/23 (Box 4 plus Box 5)
Qualified Expenditures claimed in 2023 (Box 6 minus $200,000,000)
By providing my signature below, I am hereby certifying that, to the best of my knowledge, the information stated
herein is accurate, true, and complies with the provisions of Minnesota Statutes Section 467.47 and the approved
methodology as outlined in the City of Rochester Commissioner of Employment and Economic Development State
Infrastructure Aid Agreement.
State Transit Aid Qualified for (Box 7 multiplied by .0075 and then multiplied by .6)
DateMayo Clinic Chief Financial Officer
For Expenditures By the Medical Business Entity:
$6,333,157.46
1Expenditures need to be after June 30, 2013
2Other Private Entities' certification of expenses may be certified retroactively in 2014 after the Destination Medical
Center District and Development Plan are adopted.
Form Revised 02/23/2024
3This figure is based solely upon project building permit costs. Minn. Stat. § 469.47, subd 1(d) permits additional
expenditures, and discussion is underway as to how to document such additional expenditures, which may result in
adjustments.
DateDestination Medical Center Corporation
ATTACHMENT 3
41
EX
H
I
B
I
T
D
ANNUAL
CERTIFICATION
OF CITY EXPENDITURES.
$60,915,015.66
Total Expenditures
CITY OF ROCHESTER’S
CERTIFIED
EXPENDITURES
JUNE 2013 THROUGH
DECEMBER 2022
42
43
44
DEED
CERTIFICATIONS
EX
H
I
B
I
TE
45
46
June 28, 2024
Pamela Wheelock, Chair
Destination Medical Center Corporation
C/O Kaela Brennan
McGrann Shea Carnival Straughn & Lamb, Chartered
800 Nicollet Mall, Suite 2600
Minneapolis, MN 55402-7035
Dennis Dahlen, Chief Financial Officer
Mayo Clinic
200 First Street SW
Rochester, MN 55905
Dear Ms. Wheelock and Mr. Dahlen:
Thank you for submitting the 2023 Certification of Expenditures for Destination Medical Center (DMC).
We are excited to assist with this initiative to make the Mayo Clinic, Rochester, and Minnesota a premier
medical destination.
Your certification listed $133,652,089.33 in Mayo Clinic expenditures and $12,583,587 in other
expenditures. The Mayo Clinic provided DEED with information on all invoices and payments (more than
6,600 entries) to account for their certification amount. You also provided an independent third party
report from Ernst & Young LLP stating the law and procedures for certifying expenditures are being
followed properly. Additionally, DEED staff reviewed invoices and payments in your certification. We
selected 61 expenditures totaling $20,724,368. We selected one expenditure from each of the 51 new
projects listed. All invoices for the selected expenditures were on file and payments were made in a
timely fashion. DEED staff also confirmed that projects had building permits after June 30, 2013. DEED
acknowledges the expenses and payments met guidelines and the internal accounting and auditing
system the Mayo Clinic has in place is sufficient.
Additionally, the DMCC and the City of Rochester provided DEED with a list of 22 projects for
$12,583,587 in expenditures. DEED randomly selected 10 permits and was provided the permit
application, permit, project closeout, and map of projects. From this information, DEED confirmed 10
projects’ values, dates, eligibility, and completion. DMCC contracted with Clifton Larson Allen (CLA) to
complete a review on its Certification to insure it is correct. CLA issued an opinion that the DMCC
certification process was correct.
As required by law, I have determined that the amount of 2023 Destination Medical Center
Expenditures are the $146,235,676.33 as you certified. DMC cumulative Expenditures are now
$1,607,368,325.07. As directed by statute, $200 million is subtracted from this amount to provide
Qualified Expenditures of $1,407,368,325.07. Based on this figure and adequate general aid
Contributions from the city, I have determined the City of Rochester has qualified for $30,000,000 of
General State Infrastructure Aid in 2024. As per state statute, this payment will be made prior to
September 1.
Also based on Qualified Expenditures of $1,407,368,325.07 and adequate Transit Aid Contributions from
the city, I have determined the City of Rochester has qualified for $7,500,000 of Transit State Aid in
2024. This payment will be made prior to September 1.
Thank you again for your efforts on this groundbreaking economic development effort.
Regards,
Matt Varilek
Commissioner
C: Patrick Seeb, Economic Development Agency Executive Director
Brent Svenby, City of Rochester
47
June 28, 2024
The Honorable Kim Norton
Mayor, City of Rochester
201 4th Street SE – Room 281
Rochester, MN 55904-3708
Dear Mayor Norton:
Thank you for submitting the 2023 Certification of Contributions for Destination Medical Center (DMC).
We are excited to assist with this initiative to make the Mayo Clinic, Rochester, and Minnesota a premier
medical destination.
Your 2023 Certification listed $6,151,979.13 in city general aid contributions between July 1, 2013 and
December 31, 2023. You provided a detailed listing of 1,758 expenditures. These expenditures consisted
of direct DMC expenses paid by the city as well as DMC Corporation and DMC Economic Development
Authority expenses paid for by the city. From that list, DEED randomly selected 41 expenses for review.
We reviewed invoices, payments and city payroll files for accuracy and eligibility.
Your 2023 Certification also listed $966,034.93 in city transit contributions between July 1, 2013 and
December 31, 2023. You provided a detailed listing of 64 expenditures. These expenditures consisted of
DMC expenses paid by the city for transit projects. From that list, DEED randomly selected 3 expenses
for review. We reviewed invoices, payments and city payroll files for accuracy and eligibility.
Additionally, the city provided DEED with an independent third party report from Clifton Larson Allen
stating the law and procedures for certifying contributions are being followed properly.
The amount of your general aid contributions qualifies you for the annual maximum of $30,000,000 of
general state infrastructure aid and the annual maximum of state transit aid of $7,500,000. We will be
providing these payments prior to September 1 as mandated by statute.
Thank you again for your efforts on this groundbreaking economic development effort.
Regards,
Matt Varilek
Commissioner
C: Pamela Wheelock, Chair of Destination Medical Center Corporation
Dennis Dahlen, Chief Financial Officer Mayo Clinic
Patrick Seeb, Economic Development Agency Executive Director
48