HomeMy WebLinkAbout9/24/2015 DMCC Board Meeting - Agenda and Meeting Packet
DESTIN ATION
MEDICAL CENTER
CORPOR ATION
(DMCC)
BOARD MEETING
9:30 A.M. THURSDAY, SEPTEMBER 24, 2015
MAYO CIVIC CENTER - ROCHESTER
TO: Jim Bier, Treasurer
Kathleen Lamb, Attorney
FR: Dale Martinson, Assistant Treasurer
Date: September 16, 2015
RE: August 2015 Financial Summary
The attached financial summary for August reflecting activity to date totaling $1,594,225 of
2015 budgeted expenditures plus $550,675 of total closeout work on the 2014 plan
development carryover costs. The total remaining 2015 budget of $2,478,010 represents 61%
to the original budget remaining with just one-third (33%) of the year remaining.
However, it is important to note that through this August report date, no employee costs had
been incurred. The DMC EDA now has 4 staff positions that will be paid from this budget and
will begin to show up as salary expense in the September and following months expenses.
Please feel free to contact me with any questions or concerns.
Destination Medical Center Corporation
Financial Budget Summary
August 2015
2015 Amended Curent Month August 2015 Amount Percent
Approved Budget July 2015 YTD Remaining Remaining
General Expenses 217,203 12,811 31,068 186,135 86%
Professional Services 780,600 24,075 204,500 576,100 74%
City Expenses 275,000 ‐ 275,000 100%
Subtotal DMCC 1,272,803 36,886 235,568 1,037,235 81%
Third Party Costs ‐ DMC EDA *
Payroll, Staff, Administration & Benefits‐EDA 218,000 ‐ ‐ 218,000 100%
General Expenses ‐ EDA 79,000 98 1,490 77,510 98%
Economic Development Outreach 108,000 22,419 153,513 (45,513) ‐42%
Meeting Expenses ‐ ‐ ‐ ‐
Professional Services 2,295,000 159,846 1,185,222 1,109,778 48%
Miscellaneous Expenses 100,000 19,000 19,000 81,000 81%
Subtotal EDA 2,800,000 201,363 1,359,225 1,440,776 51%
Total DMCC 2015 4,072,803 238,249 1,594,793 2,478,010 61%
‐
‐ ‐
Plus 2014 EDA Project/Contract Carryover 570,106 *550,675 19,431 3%
DMCC Working Capital Note 1,000
* See Attached Contract Commitments for EDA Portion EDA Working Capital Note 50,000
*Carryover of 2014 Budget to complete plan as approved by board on 7/30/2015
Report 4002
9/2/2015 - 4:25 PM Page 1 of 1
DMC - ECONOMIC DEVELOPMENT AGENCY (2015)
DETAIL COST REPORT #3
Variance
Division Description
Master Project
Budget
A
Original
Contract
Amount
B
Contract
Revisions
C
Committed
Costs
B+C
Committed Direct
Owner Purchases
D
Un-Committed
Costs
E
Final Projected
Cost
B+C+D+E
Over/(Under)
Budget
(B+C+D+E)-A
Total Work
In Place
Percent
Complete
DEVELOPMENT COSTS
40-05-000 Architecture & Engineering $135,000.00 $13,390.47 $0.00 $13,390.47 $0.00 $121,609.53 $135,000.00 $0.00 $1,299.57 0.96%
40-05-300 Planning Services, Architecture, Engineering $135,000.00 $13,390.47 $0.00 $13,390.47 $0.00 $121,609.53 $135,000.00 $0.00 $1,299.57 0.96%
40-25-000 Marketing & Public Relations $318,000.00 $386,516.20 $0.00 $386,516.20 $0.00 ($68,516.20)$318,000.00 $0.00 $178,558.70 56.15%
40-25-300 Communications, Marketing & PR $108,000.00 $273,225.00 $0.00 $273,225.00 $0.00 ($165,225.00)$108,000.00 $0.00 $153,512.50 142.14%
40-25-310 Public Relations & Communications $210,000.00 $113,291.20 $0.00 $113,291.20 $0.00 $96,708.80 $210,000.00 $0.00 $25,046.20 11.93%
40-30-000 Development Services $1,900,000.00 $1,862,000.00 $0.00 $1,862,000.00 $0.00 $38,000.00 $1,900,000.00 $0.00 $1,112,000.00 58.53%
40-30-300 Development Services $1,860,000.00 $1,860,000.00 $0.00 $1,860,000.00 $0.00 $0.00 $1,860,000.00 $0.00 $1,110,000.00 59.68%
40-30-310 Financial, Accounting & Investment Services $40,000.00 $2,000.00 $0.00 $2,000.00 $0.00 $38,000.00 $40,000.00 $0.00 $2,000.00 5.00%
40-35-000 Legal Services $50,000.00 $46,329.33 $548.00 $46,877.33 $0.00 $3,122.67 $50,000.00 $0.00 $46,877.33 93.75%
40-35-300 Legal Services $50,000.00 $46,329.33 $548.00 $46,877.33 $0.00 $3,122.67 $50,000.00 $0.00 $46,877.33 93.75%
40-90-000 Other Development Costs $397,000.00 $39,264.76 $225.00 $39,489.76 $0.00 $357,510.24 $397,000.00 $0.00 $20,489.76 5.16%
40-90-115 Payroll, Staff, Administration & Benefits-EDA $218,000.00 $0.00 $0.00 $0.00 $0.00 $218,000.00 $218,000.00 $0.00 $0.00 0.00%
40-90-120 General Expenses-EDA $79,000.00 $1,264.76 $225.00 $1,489.76 $0.00 $77,510.24 $79,000.00 $0.00 $1,489.76 1.89%
40-90-300 Reimbursable Expenses $100,000.00 $38,000.00 $0.00 $38,000.00 $0.00 $62,000.00 $100,000.00 $0.00 $19,000.00 19.00%
Subtotal $2,800,000.00 $2,347,500.76 $773.00 $2,348,273.76 $0.00 $451,726.24 $2,800,000.00 $0.00 $1,359,225.36 48.54%
PROJECT CONTINGENCY
90-00-000 Project Contingency $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 0.00%
Subtotal $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 0.00%
PROJECT TOTAL $2,800,000.00 $2,347,500.76 $773.00 $2,348,273.76 $0.00 $451,726.24 $2,800,000.00 $0.00 $1,359,225.36 48.54%
Work in PlaceSchedule of Values
August 31, 2015
DESTINATION)MEDICAL)
CENTER
A)Global)Destination)for)Health)&)Healing
September)24th,)2015
DMC)2016)
CONSOLIDATED)BUDGET
2016%BUDGET
DMCC$Board$Expenses $36,612
General$Administrative$Expenses $180,600
Professional$Services $780,600
Subtotal $997,812
$275,000
DMC$EDA$Staff$Costs $777,000
DMC$EDA$Operational$Costs $163,000
Economic$Development$Outreach$&$Support $495,000
Professional$Services $1,148,000
Miscellaneous$Costs $405,000
Subtotal $2,988,000
TOTAL%BUDGET $4,260,812
ORGANIZATIONAL%EXPENSES
Destination%Medical%Center%Corporation%(DMC%Corporation)
City%of%Rochester
DMC%Economic%Development%Agency%(DMC%EDA)
The$2016$consolidated$budget$for$DMC$operations$is$included$below:
DMC%2016%CONSOLIDATED%BUDGET
DMC)CORPORATION
2016)OPERATING)BUDGET
2016 DMCC BUDGET: PROPOSED
24-Sep-15
Escalation Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2016 Total
DMCC Board Expenses 2.25%
Meeting Expenses (Note 1)2,228$ 2,228$ 2,228$ 2,228$ 2,228$ 2,228$ 2,228$ 2,228$ 2,228$ 2,228$ 2,228$ 2,228$ 26,736$
Board Payments (Note 2)223$ 223$ 223$ 223$ 223$ 223$ 223$ 223$ 223$ 223$ 223$ 223$ 2,676$
Travel Expenses Allowance (Note 3)600$ 600$ 600$ 600$ 600$ 600$ 600$ 600$ 600$ 600$ 600$ 600$ 7,200$
Subtotal 3,051$ 3,051$ 3,051$ 3,051$ 3,051$ 3,051$ 3,051$ 3,051$ 3,051$ 3,051$ 3,051$ 3,051$ 36,612$
General Administrative Expenses 2.00%
Insurance (Note 4)150,000$
Miscellaneous Expenses Reserve (Note 5)2,550$ 2,550$ 2,550$ 2,550$ 2,550$ 2,550$ 2,550$ 2,550$ 2,550$ 2,550$ 2,550$ 2,550$ 30,600$
Subtotal 2,550$ 2,550$ 2,550$ 2,550$ 2,550$ 2,550$ 2,550$ 2,550$ 2,550$ 2,550$ 2,550$ 2,550$ 180,600$
Professional Services 2.00%
Legal Services 400,000$
External Auditor (Note 5)50,000$
Professional Services / Contingency (non-EDA provided - Note 5)300,000$
Insurance / Risk Advisor (Note 6)30,600$
Subtotal 780,600$
Total Expenses 997,812$
Notes:
(1) Estimate for Civic Center room including staff and equipment
(2) $55/day Per Diem (non Public Sector Board Members - 4)
(3) Assume $75/meeting average cost - 8 board members
(4) Insurance Cost: Estimate
(5) Allowance and/or estimate based on other similar organizations
(6) Est. Current cost
2016
DMC)EDA)2016
OPERATING)BUDGET
&)WORKPLAN
!
DESTINATION!MEDICAL!CENTER!
ECONOMIC!DEVELOPMENT!AGENCY!
DMC!EDA!2016!OPERATING!BUDGET!&!WORKPLAN!–!FINAL!
1
BACKGROUND!/!STATUTORY!FRAMEWORK!
!
•"In!2016,!the!Destination!Medical!Center!(“DMC”)!initiative!will!be!firmly!rooted!in!the!implementation!phase!of!
work.!!
•"The!work!to!be!undertaken!is!just!as!envisioned!by!lawmakers!and!the!executive!branch!in!2013,!and!even!more!
tangible!and!important!today!with!the!backing!of!a!strong!Development!Plan,!which!was!created!with!a!compelling!
vision!that!harnesses!the!energy!and!creativity!of!the!entire!community.!!!
•"The!Development!Plan!and!annual!Workplans!will!guide!the!State’s!most!important!publicNprivate!development!
initiative!–!one!designed!with!the!potential!to!leverage!significant!private!investment!and!generate!$7.5!billion!to!
$8!billion!in!tax!revenues!and!35,000!to!45,000!new!jobs!with!proper!execution!of!these!plans.!!
!
DMC!EDA!PURPOSE!
!
The!DMC!Economic!Development!Agency!(“DMC!EDA”)!is!the!entity!responsible!for!“developing!and!marketing”!the!DMC!
initiative!on!behalf!of!the!Destination!Medical!Center!Corporation!(“DMCC”)!and!the!City,!consistent!with!the!DMC!Mission.!!
!
•"The!specific!responsibilities!of!the!DMC!EDA!are!enumerated!under!the!Minnesota,!Chapter!143,!Article!10,!as!
amended!(the!“DMC!Law”).!
•"Additional,!consistent!responsibilities!are!outlined!in!the!contract!between!the!DMCC!and!the!DMC!EDA.!!
•"The!DMC!EDA’s!Goals!and!related!work!will!be!based!upon!strategic!priorities!and!desired!outcomes!and!will!be!
informed!and!driven!by!the!DMC!Development!Plan!and!annual!Workplans,!as!well!as!topicNspecific!strategic!
implementation!plans.!
!
!
!
DESTINATION!MEDICAL!CENTER!
ECONOMIC!DEVELOPMENT!AGENCY!
DMC!EDA!2016!OPERATING!BUDGET!&!WORKPLAN!–!FINAL!
2
!
SUMMARY!OF!PRIMARY!OUTCOMES!
2016!KEY!DELIVERABLES!&!TASKS!
!
!
Realize!the!economic!development!potential!of!DMC,!generate!market!demand,!and!continue!to!build!local!to!
international!support!
!
Organize!a!"DMC!DAY"!event!in!Rochester!that!invites!potential!private!and!public!partners!to!
participate!in!a!detailed!tutorial!on!how!DMC!connects!to!Mayo's!business!strategy.!
LEAD!
!!
Evolve!DMC!brand!identity!and!create!marketing/collateral!materials!highlighting!Heart!of!City!and!
Discovery!Square.!LEAD!
!!
Facilitate!private!investment!into!DMC!to!realize!the!$200!million!threshold!that!activates!the!
public!DMC!funding!program.!LEAD!
!!
Develop!a!master!list!of!over!250!industry!and!thought!leaders!and!stakeholders!(local!to!national)!
that!will!be!provided!a!DMC!update!letter!at!least!twice!in!2016.!!Smaller!groups!may!be!identified!
for!personal!outreach!or!briefings.!
LEAD!
!!
Expand!news!media!outreach!and!DMC!story!development!by!targeting!at!least!12!MN!State!media!
outlets!and!10!highNvalue!national!media!outlets!(working!in!coordination!with!Mayo!public!affairs)!
for!briefings!and!to!offer!ideas!for!possible!DMC!stories.!
LEAD!
!
!
!
!
!
!
DESTINATION!MEDICAL!CENTER!
ECONOMIC!DEVELOPMENT!AGENCY!
DMC!EDA!2016!OPERATING!BUDGET!&!WORKPLAN!–!FINAL!
3
!
Develop! not! less! than! 5! shortN!and! longNterm! strategies! for! leveraging! existing! stakeholder!
relationships!and!meeting!each!of!the!business/economic!development!goals!of!Development!Plan!
(i.e.,!ignite!BioNMedNTech!economy!through!Discovery!Square,!catalyze!growth!in!the!Heart!of!the!
City,!diversify!business!base!in!the!Development!District,!foster!entrepreneurial!enterprise!and!
innovation,!and!facilitate!a!regional!economy).!!!!
LEAD!
!!
Enter!Phase!2!(advanced)!redesign!of!DMC/DMC!EDA!Web!Site!to!provide!additional!functionality!
for!project!developers!to!track!DMC!funding!process!and!development!progress!in!Heart!of!City!
and!Discovery!Square.!
LEAD!
!!
Meet! monthly! with! leaders! in!community! services! as! well! as!the! six! policy! areas! of! focus!
(Energy/sustainability,!healthy! communities,! historic! preservation,! affordable! housing,! targeted!
businesses,!and!arts!and!culture),!to!identify!a!“Quality!of!Life”!scorecard!that!considers!the!public!
opinion.!
PARTICIPATE!
!!
Facilitate/assist!with!programming!and!placemaking!related!to!public!spaces.!PARTICIPATE!
!!
Develop!a!strategy!to!engage!stakeholders!and!facilitate!discussions!to!position!Rochester!as!the!
healthiest!city!in!America.!!PARTICIPATE!
!!
Continue! to! foster,! promote! and! support!community! voices! that! are,! or! will! be! users,! of! the!
downtown!area!(students,!millennials,!baby!boomers,!etc.)!PARTICIPATE!
!!
Meet!with!IBM!to!identify!technologyNbased!opportunities!for!priority!area!in!DMC;!present!related!
strategic!implementation!plan!by!3rd!quarter!of!2016.!PARTICIPATE!
!
!
!
Identify!and!recruit!high!priority!partners!for!“Discovery!Square”!
!!
Launch!DMC!Discovery!Square!initiative!at!2016!International!BioConference,!June!6th!through!9th.!LEAD!
!!
Identify/participate!in!2!to!3!other!statewide/national/international!conferences!and!events!to!gain!
exposure!among!key!leaders!in!support!of!Discovery!Square.!LEAD!
!!
Work!with!Mayo!Clinic!to!identify!a!Developer!for!Discovery!Square!by!2nd!quarter!of!2016.!PARTICIPATE!
!!
Meet!at!least!quarterly!with!key!organizations!to!align!shared!vision!for!Discovery!Square!(e.g.,!
BioAM,! RAEDI,! Rochester! Community! &! Technical! College,! University! of! MN,! Rochester! Public!
School!System,!Rochester!Downtown!Alliance,!Rochester!Convention!&!Visitors!Bureau,!etc.).!
PARTICIPATE!
!!
Meet!not!less!than!monthly!with!Mayo!Clinic!to!complete!Discovery!Square!feasibility!study!and!
project!plan!by!February!1st,!2016.!!PARTICIPATE!
!!
Meet!monthly!with!Mayo!Clinic/Mayo!Ventures!to!begin!recruitment!of!!top!10!BioNMedNTech!
partners!for!Discovery!Square!in!2nd!–!4th!quarters!of!2016.!PARTICIPATE!
!
!
DESTINATION!MEDICAL!CENTER!
ECONOMIC!DEVELOPMENT!AGENCY!
DMC!EDA!2016!OPERATING!BUDGET!&!WORKPLAN!–!FINAL!
4
!
!
Facilitate!desired!private!sector!investment!and!public!amenities/space!development/programming!in!
!“Heart!of!the!City”!
!!
Identify!and!engage!5!to!6!potential!hospitality!industry!partners!for!Heart!of!City!development,!
including!a!fiveNstar!hotel.!LEAD!
!!
!!
Identify/participate! in! 2! to! 3! statewide/national/international! conferences! and! events! in!
Retail/Dining/Entertainment/Experience!industry!(e.g.,!RECon!Global!Retail!Real!Estate!Convention,!
International!Downtown!Association).!
LEAD!
!!
Create!workforce!strategies!targeted!to!BioNMedNTech,!Construction,!and!Hospitality!industries.!LEAD,!PARTICIPATE!
!!
Meet!not!less!than!quarterly!with!key!organizations!to!align!shared!vision!on!patients’,!visitors’!and!
residents’!overall!experience!in!Heart!of!the!City.!(e.g.,!Mayo!Clinic!Concierge,!Office!of!Patient!
Experience,!Hospitality!First,!RCVB,!RDA,!Chamber!of!Commerce,!Historic!Preservation,!RAEDI,!City!
Parks!and!Recreation).!
LEAD,!PARTICIPATE!
!!
Work!with!the!City!of!Rochester!and!Mayo!Clinic!to!finalize!Phase!1!priorities!for!desired!public!and!
private!developments!in!downtown!Rochester.!PARTICIPATE!
!
!
!
Support!City!of!Rochester’s!Transportation!and!Infrastructure!planning!initiatives!
!!
Add!Web!Site!information!to!highlight!future!transportation!options/alternatives.!!LEAD!
!!
Utilize!Mayo!patient!and!employee!research/resources!to!establish!5!key!shortN!and!longNterm!
goals!for!Transportation!initiatives.!PARTICIPATE!
!!
Assist!City!of!Rochester!and!Olmsted!County!with!Preliminary!Engineering!Studies/Concept!Designs!
for!Development!Plan!Phase!1!projects.!PARTICIPATE!
!!
Help! align! transportation/infrastructure! needs! to! anticipated! Mayo! growth!and! other! private!
investments!(Mayo!strategic!transportation!recommendations!by!4th!quarter!of!2016).!!PARTICIPATE!
!!
Engage! contiguous! community! neighborhoods! on! transportation! and! transit! initiatives! (e.g.,!
Rneighbors,! Mayor’s! Neighborhood! Council,! Kutzky! Park,! Slatterly! Park,! East! Side,! Sunny! Side,!
Historic!SW,!Northrup).!
PARTICIPATE!
!
!
DESTINATION!MEDICAL!CENTER!
ECONOMIC!DEVELOPMENT!AGENCY!
DMC!EDA!2016!OPERATING!BUDGET!&!WORKPLAN!–!FINAL!
A
APPENDIX!A!
PROPOSED!2016!BUDGET!
!
!
The!following!proposed!2016!Budget!is!included!as!Appendix!A!of!this!Workplan!and!made!a!part!hereof.!!
!
!
!
!
!
!
!
!
!
!
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!
DESTINATION!MEDICAL!CENTER!
ECONOMIC!DEVELOPMENT!AGENCY!
DMC!EDA!2016!OPERATING!BUDGET!&!WORKPLAN!–!FINAL!
B
!
APPENDIX!B!
COMPREHENSIVE!2016!WORKPLAN!
!
SPECIFIC!BUSINESS!&!ECONOMIC!DEVELOPMENT!DELIVERABLES!/!TASKS!
!
•"Business!Development!&!Relations!
o"Implement! Adopted! Strategies! of! Development! Plan! and! Detailed! Business! Development! Strategic!
Implementation!Plan!
o"Provide!Metrics!Reporting!to!Measure!Goals!and!Objectives!of!the!Development!Plan!
o"Provide! Grant! Writing! Assistance! (State,! Federal,! Local),! Tax! Credit! Application! Assistance! and! Other!
Funding!Sources!for!Priority!Projects!
o"Provide!Site!Location!and!Demographic!Information!to!Potential!Private!Project!Sponsors!and!Economic!
Development!Partners!
o"Develop!Recruitment!and!Retention!Strategies!to!Address!Work!Force!Development!Needs!in!Targeted!
Business!Sectors!
o"Provide!Environmental,!Infrastructure!and!Utility!Information!to!Private!Sponsors!
!
•"Economic!Development!
o"Facilitate!Catalytic!Development!Planning!Efforts!with!Mayo,!City,!Other!Stakeholders!
o"Facilitate!the!Execution!of!Feasibility!Studies!and!Project!Plans!by!Other!Private!Partners!for!Priority!
Development!Areas!
o"Coordinate!with!City!of!Rochester!on!Integration!of!the!Development!Plan!with!the!City!Comprehensive!
Plan,!Ordinances,!Policies!
o"Coordinate!with!City!of!Rochester!on!Citywide!Initiatives,!Including!Policy!Initiatives!such!as!Energy!and!
Sustainability,!Healthy!Communities,!Historic!Preservation,!Affordable!Housing,!W/MBE,!and!Arts!and!
Culture!
o"Monitor!Private!Development!in!the!Development!District!and!Forecast!Private!Expenditures!
o"Assist!in!Identifying!and!Evaluating!Partnerships!for!Investment!(Including!StartNUps,!Business!Incubators,!
Established!Companies)!!
o"Assist! in! Identifying! and! Evaluating! Sponsorship! Opportunities! and! Facilitate! Further! PublicNPrivate!
Partnerships!
!
•"Planning!&!Infrastructure!
o"Work!with!City!of!Rochester!and!Olmsted!County!to!Manage!Preliminary!Engineering!Studies/Concept!
Designs!for!Development!Plan!Phase!1!Transportation!and!Infrastructure!Plans!
o"Work!with!City!of!Rochester!and!Olmsted!County!to!Establish!Transit!Management!Authority!
o"Coordinate!Master!Signage/Wayfinding!Plan!with!the!City!
o"Coordinate! with! the! City! of! Rochester! and! other! Stakeholders! on! Infrastructure! Planning! for! Priority!
projects.!
!
SPECIFIC!OUTREACH!/!ENGAGEMENT,!COMMUNICATIONS!&!PUBLIC!RELATIONS!DELIVERABLES!/!TASKS!
!
•"Business!Development!Outreach!
o"Coordinate!Messaging!and!Materials!in!Support!of!Strategic!Priorities!Identified!in!the!DMC!Development!
Plan!and!by!the!DMCC!Board!
!
DESTINATION!MEDICAL!CENTER!
ECONOMIC!DEVELOPMENT!AGENCY!
DMC!EDA!2016!OPERATING!BUDGET!&!WORKPLAN!–!FINAL!
B-2
!
o"Select!a!Marketing!Consultant!to!Develop!a!Business!Development!Strategic!Implementation!Plan!that!will!
Attract!Business!and!Foster!Economic!Development!in!the!DMC!District!!
o"Oversee!Preparation!and!Implementation!of!Business!Development!Strategic!Plan!
o"Implement!Brand!Use!Guidelines,!Protocols!
o"Manage!Marketing!and!Communications!Consultants!to!the!DMC!EDA!and!DMCC!
o"Provide!Metrics!to!Measure!Goals!and!Objectives!
o"Coordinate! Attendance,! Visibility! and! Sponsorship! for! Key! Conferences,! Activities! (Local,! Regional,!
National,!International)!
o"Facilitate!Promotional!and!Sponsorship!Initiatives!
o"Manage!and!Coordinate!Ongoing!Meetings!and!Opportunities!for!the!Public!to!Gather!to!Inform!and!
Consult!(e.g.,!World!Café,!Public!Forums,!Social!Media,!Open!Houses,!etc.)!!
!
•"Communications!&!Collateral!Material(s)!
o"Develop!and!Implement!Outreach!Strategy!
o"Oversee!All!Communication!Vehicles:!Collateral,!Social!Media!Platforms,!Blog,!DMC!Website!Content,!
Newsletter,!External!Communications!!
o"Coordinate!Communications!Initiatives!with!Stakeholders:!EDA,!Mayo,!City,!County,!and!State!!
!
•"!Community!Outreach!/!Engagement!
o"Implement!Community!Relations!Strategic!Implementation!Plan!
•"Develop! Additional,! Specific! Strategies! for! Cooperation!with! Local,! Regional! and! National!
Partners!Based!Upon!Private!Project!Development!
o"Continue!to!Foster!Connections!to!Related!Programs!and!Services!with!Mayo!Clinic,!RCVB,!Chamber,!
RAEDI,!RDA!and!Other!Community!Organizations!
o"Provide!Metrics!Reporting!to!Measure!Goals!and!Objectives!
o"Manage!and!Respond!to!Community!Requests!and!Inquiries!
!
SPECIFIC!OPERATIONS!DELIVERABLES!/!TASKS!
!
•"Management!
o"Prepare!Monthly!and!Annual!DMC!EDA/DMCC!Reports!
o"Manage!Other!Operational!Responsibilities!of!the!DMC!EDA!as!Required!by!the!DMC!Law!
o"Prepare/Manage!the!DMC!EDA!Operational!Workplan!for!Phase!3!(2017!and!beyond)!
o"Manage!and!Oversee!Subconsultants,!Contracts!
!
•"Coordination!
o"Interface!with!Mayo!Clinic,!Other!Stakeholders!
o"Coordinate!Scheduling!and!Materials!for!DMC!EDA/DMCC!Board!Meetings!and!Community!Events!
o"Coordinate!Communications!with!Project!Sponsors!and!Economic!Development!Partners!
!
•"Reporting!&!Monitoring!
o"Monitor!DMC!Development!District!Project!Development!
o"Track!and!Report!on!Economic!and!Fiscal!Impacts!Occurring!in!the!DMC!Development!District!!
o"Monitor!Land!Sales,!Property!Inventory!and!Parcel!Acquisitions!in!the!DMC!District!
o"Track!and!Report!Workforce!Development!Achievements!
!
DESTINATION!MEDICAL!CENTER!
ECONOMIC!DEVELOPMENT!AGENCY!
DMC!EDA!2016!OPERATING!BUDGET!&!WORKPLAN!–!FINAL!
B-3
!
!
SPECIFIC!FINANCE!DELIVERABLES!/!TASKS!
!
•"Project!Funding!
o"Prepare!DMC!Funding!Evaluation!Reports,!including:!!
•"Review!of!Minimum!Eligibility!Requirements!
•"Review!of!all!Financial!and!Economic!Modeling!Submitted!in!Funding!Applications!
•"Validation!of!Construction!Funding!Gap!Analysis!!
•"Conduct!or!Review!Financial!Feasibility!Analysis,!including!Operating!Pro!Forma!
•"Conduct!or!Review!Fiscal!and!Economic!Impact!Analysis!
o"Coordinate!with!City!and!County!on!Transportation!Funding!!
o"Monitor,!Facilitate!Opportunities!for!Other!Project!Funding!Sources!
!
•"Compliance!
o"Monitor!Covenants!of!DMC!Fund!Loans/Grants
DMC
CAPITAL)IMPROVEMENT)PLAN
2016)UPDATE
[
TO
FOLLOW
UNDER
SEPARATE
EMAIL
CORRESPONDENCE
]
HAMMES
COMPANY AUGUST
2015
TABLE OF CONTENTS
1.0 Executive Summary
2.0 Master Project Budget
3.0 Budget Allocation Report
4.0 Cost Report
5.0 Contract Summary Report
6.0 Master Application for Payment
7.0 Other Information
Major Tasks / Next 60 Days
The following provides an outline of the anticipated tasks to be
completed in the next 60 days.
• DMC EDA staff will be in place in September 2015.
• The DMC EDA will work to finalize the Development Guide
that will be available to DMC development interests.
• The DMC EDA will complete the update to the DMC 5-year
Capital Improvement Plan based on feedback from the City
of Rochester.
• The DMC EDA will work with the City to prepare funding terms
and a complete funding program for DMC public infrastructure
projects.
• The DMC EDA will continue to focus communications on
elevating awareness through outreach across the state and
building national support for the DMC.AUGUST 2015
Major Accomplishments /
Last 30 Days
The following provides an outline of the tasks completed in the last
30 days.
• The DMC EDA completed the DMC website redesign.
• The DMC EDA assisted in the selection of a DMC Program
Manager Consultant for transportation and infrastructure
planning issues.
• The DMC EDA presented its 2016 Workplan and Budget to the
DMC Corporation Board.
• DMC was covered in 67 media stories.
Mo
n
t
h
l
y
P
r
o
g
r
e
s
s
R
e
p
o
r
t
Mo
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t
h
l
y
P
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o
g
r
e
s
s
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p
o
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A
T
I
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D
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A
W
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E
AUGUST 31, 2015
Monthly Progress Report MASTER BUDGET: $2,800,000.00
LE
G
A
L
S
E
R
V
I
C
E
S
5.16%
93.75%
AU
G
U
S
T
3
1
,
2
0
1
5
56.15%
AUGUST, 2015
This report provides a summary of the activities undertaken by the Destination Medical Center Economic
Development Agency (DMC EDA) for the period stated above.
2015 WORK PLAN IMPLEMENTATION
DEVELOPMENT
• The DMC EDA is continuing to build the tools and processes that are necessary to seamlessly transition
into the implementation phase of the DMC initiative.
• The DMC EDA is coordinating with the City to track potential project activity and updates in the DMC
Development District.
• The DMC EDA is working with the City to review the Design Guideline proposal by the Metropolitan
Design Center for development of design standards and guidelines within the DMC boundary area.
• The DMC EDA is working to refine the DMC 5-year Capital Improvement Plan based on recent feedback
from the City of Rochester.
• The DMC EDA presented its 2016 Workplan, which is focused on the DMC Corporation Board-identified
priorities (Heart of the City, Discovery Square and Transportation initiatives) to the DMC Corporation
Board.
FINANCE
• The DMC EDA is currently within budget for 2015 and has begun to utilize the Working Capital Loan
structure implemented by the DMC Corporation and the City.
• The DMC EDA has publicly presented its 2016 proposed budget to the DMC Corporation Board.
• The closeout of the DMC EDA Development Plan budget is complete.
BUSINESS / ECONOMIC DEVELOPMENT
• The DMC EDA is exploring a more fulsome effort to evolve the DMC brand identity and create marketing/
collateral materials highlighting Discovery Square and Heart of the City priorities.
• The DMC EDA is working with the City to prepare funding terms and a complete funding program for
DMC public infrastructure projects.
• The DMC EDA is preparing a Development Guide that will be available to DMC development interests as
a reference guide to building and developing in the Destination Medical Center.
EDA OPERATIONS
• The Finance Director and Communications and Community Relations Director both started this month.
• The build-out of the DMC EDA permanent office space is complete and ready for move-in.
• The DMC EDA will be announcing plans for an open house in the near future.
COMMUNICATIONS AND PUBLIC RELATIONS
• Over the last month, Communications focused their efforts on the DMC website redesign.
• In the upcoming month, the DMC EDA plans to begin regional outreach to business/ civic organizations
and outstate communities.
• Media results - 67 media stories in the last month.
• Topics included: Diversity in Building Projects, Sustainability, the McNight Foundation Grant and the
Chateau Theater.
COMMUNITY ENGAGEMENT
• The DMC EDA kicked off “DMC Hangouts” - a planned series of informal conversations that provide an
honest dialogue around DMC and the future of Rochester.
• The DMC EDA continues to coordinate meetings with local leaders and organizations to keep informed
and maintain relationships: community leaders, Community Engagement Committee, Social Service
coalition, Rochester Arts and Culture Collaborative
• The DMC EDA continues to work to coordinate support with key stakeholders for the MN Bike Share
program in Rochester and facilitate conversations with local groups.
• The DMC EDA continues to attend/partner with local and regional initiatives e.g. Southern MN Initiatives
Foundation, J2G (Journey to Growth), Hospitality First.
00.96%
58.53%
* This summary represents the approximately $2.8 M portion of the budget and/or expenses
that are managed and reported by the EDA. The balance of funding is DMCC and City of
Rochester funding and managed outside of the EDA budget.
AU
G
U
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T
3
1
,
2
0
1
5
OT
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DE
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S
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V
I
C
E
S
SOURCES OF FUNDS: Current Application
City Contribution $2,800,000
____________
TOTAL SOURCES $2,800,000
USES OF FUNDS: Current Application
Architecture $1,300
Marketing & PR $178,559
Development Services $1,112,000
Legal Services $46,877
Other Development Costs $20,490
TOTAL WORK IN PLACE $1,359,225
BALANCE TO COMPLETE $1,440,775
COMMITTED COSTS $2,348,274
UNCOMMITTED COSTS $451,726
TOTAL USES OF FUNDS $2,800,000
AR
C
H
I
T
E
C
H
T
U
R
E
&
E
N
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E
E
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MA
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E
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I
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G
&
P
R
MASTER PROJECT BUDGET
41.35% DRAWN 0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000
ARCHITECTURE $ 135,000
$ 1,300
MARKETING & PR $ 318,000
$ 178,559
DEVELOPMENT SERVICES $ 1,900,000
$1,112,000
LEGAL SERVICES $ 50,000
$46,877
OTHER DEVELOPMENT COSTS $ 397,000
$ 20,490
COMMITTED COSTS
ACTUAL EXPENDITURES TO DATE
TOTAL EXPENDITURES TO DATE: $1,359,225
HAMMES
COMPANY AUGUST
2015
The following Master Project Budget is included herein as
Section 2.0.
Report 4001A
9/2/2015 - 4:21 PM
DMC - ECONOMIC DEVELOPMENT AGENCY (2015)
SOURCES AND USES REPORT #3 August 31, 2015
SOURCES OF FUNDS USES OF FUNDS
00-30-005 City Contribution 2,800,000.00$ 40-00-000 Development Costs 2,800,000.00$
90-00-000 Project Contingency -$
TOTAL SOURCES OF FUNDS 2,800,000.00$ TOTAL USES OF FUNDS 2,800,000.00$
Report 4001B
9/2/2015 - 4:22 PM Page 1 of 1
DMC - ECONOMIC DEVELOPMENT AGENCY (2015)
MASTER PROJECT BUDGET #3 August 31, 2015
Division Description Final Projected
Cost Notes
DEVELOPMENT COSTS
40-05-000 Architecture & Engineering $135,000.00
40-25-000 Marketing & Public Relations $318,000.00
40-30-000 Development Services $1,900,000.00
40-35-000 Legal Services $50,000.00
40-90-000 Other Development Costs $397,000.00
Subtotal $2,800,000.00
PROJECT CONTINGENCY
90-00-000 Project Contingency $0.00
Subtotal $0.00
PROJECT TOTAL $2,800,000.00
Report 4001B
9/2/2015 - 4:22 PM Page 1 of 1
DMC - ECONOMIC DEVELOPMENT AGENCY (2015)
DETAIL MASTER PROJECT BUDGET #3 August 31, 2015
Division Description Final Projected
Cost - Detail
Final Projected
Cost Notes
DEVELOPMENT COSTS
40-05-000 Architecture & Engineering $135,000.00
40-05-300 Planning Services, Architecture, Engineering $135,000.00
40-25-000 Marketing & Public Relations $318,000.00
40-25-300 Communications, Marketing & PR $108,000.00
40-25-310 Public Relations & Communications $210,000.00
40-30-000 Development Services $1,900,000.00
40-30-300 Development Services $1,860,000.00
40-30-310 Financial, Accounting & Investment Services $40,000.00
40-35-000 Legal Services $50,000.00
40-35-300 Legal Services $50,000.00
40-90-000 Other Development Costs $397,000.00
40-90-115 Payroll, Staff, Administration & Benefits-EDA $218,000.00
40-90-120 General Expenses-EDA $79,000.00
40-90-300 Reimbursable Expenses $100,000.00
Subtotal $2,800,000.00
PROJECT CONTINGENCY
90-00-000 Project Contingency $0.00
Subtotal $0.00
PROJECT TOTAL $2,800,000.00
HAMMES
COMPANY AUGUST
2015
The following Budget Allocation Report is included herein as
Section 3 .0 .
Report 4004
9/2/2015 - 4:23 PM Page 1 of 1
DMC - ECONOMIC DEVELOPMENT AGENCY (2015)
BUDGET ALLOCATION REPORT #3
Revision
No
Revision
Date Division Division
Description
Revision
Description
Revision
Amount
Revision
To
Revision
Method
Requested
By
Entered
By
BEGINNING CONTINGENCY BALANCE $0.00
ENDING CONTINGENCY BALANCE $0.00
August 31, 2015
Final Projected Cost
HAMMES
COMPANY AUGUST
2015
The following Cost Report is included herein as Section 4.0 .
Report 4002
9/2/2015 - 4:26 PM Page 1 of 1
DMC - ECONOMIC DEVELOPMENT AGENCY (2015)
COST REPORT #3
Variance
Division Description
Master Project
Budget
A
Original
Contract
Amount
B
Contract
Revisions
C
Committed
Costs
B+C
Committed Direct
Owner Purchases
D
Un-Committed
Costs
E
Final Projected
Cost
B+C+D+E
Over/(Under)
Budget
(B+C+D+E)-A
Total Work
In Place
Percent
Complete
DEVELOPMENT COSTS
40-05-000 Architecture & Engineering $135,000.00 $13,390.47 $0.00 $13,390.47 $0.00 $121,609.53 $135,000.00 $0.00 $1,299.57 0.96%
40-25-000 Marketing & Public Relations $318,000.00 $386,516.20 $0.00 $386,516.20 $0.00 ($68,516.20)$318,000.00 $0.00 $178,558.70 56.15%
40-30-000 Development Services $1,900,000.00 $1,862,000.00 $0.00 $1,862,000.00 $0.00 $38,000.00 $1,900,000.00 $0.00 $1,112,000.00 58.53%
40-35-000 Legal Services $50,000.00 $46,329.33 $548.00 $46,877.33 $0.00 $3,122.67 $50,000.00 $0.00 $46,877.33 93.75%
40-90-000 Other Development Costs $397,000.00 $39,264.76 $225.00 $39,489.76 $0.00 $357,510.24 $397,000.00 $0.00 $20,489.76 5.16%
Subtotal $2,800,000.00 $2,347,500.76 $773.00 $2,348,273.76 $0.00 $451,726.24 $2,800,000.00 $0.00 $1,359,225.36 48.54%
PROJECT CONTINGENCY
90-00-000 Project Contingency $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 0.00%
Subtotal $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 0.00%
PROJECT TOTAL $2,800,000.00 $2,347,500.76 $773.00 $2,348,273.76 $0.00 $451,726.24 $2,800,000.00 $0.00 $1,359,225.36 48.54%
Work in PlaceSchedule of Values
August 31, 2015
Report 4002
9/2/2015 - 4:25 PM Page 1 of 1
DMC - ECONOMIC DEVELOPMENT AGENCY (2015)
DETAIL COST REPORT #3
Variance
Division Description
Master Project
Budget
A
Original
Contract
Amount
B
Contract
Revisions
C
Committed
Costs
B+C
Committed Direct
Owner Purchases
D
Un-Committed
Costs
E
Final Projected
Cost
B+C+D+E
Over/(Under)
Budget
(B+C+D+E)-A
Total Work
In Place
Percent
Complete
DEVELOPMENT COSTS
40-05-000 Architecture & Engineering $135,000.00 $13,390.47 $0.00 $13,390.47 $0.00 $121,609.53 $135,000.00 $0.00 $1,299.57 0.96%
40-05-300 Planning Services, Architecture, Engineering $135,000.00 $13,390.47 $0.00 $13,390.47 $0.00 $121,609.53 $135,000.00 $0.00 $1,299.57 0.96%
40-25-000 Marketing & Public Relations $318,000.00 $386,516.20 $0.00 $386,516.20 $0.00 ($68,516.20)$318,000.00 $0.00 $178,558.70 56.15%
40-25-300 Communications, Marketing & PR $108,000.00 $273,225.00 $0.00 $273,225.00 $0.00 ($165,225.00)$108,000.00 $0.00 $153,512.50 142.14%
40-25-310 Public Relations & Communications $210,000.00 $113,291.20 $0.00 $113,291.20 $0.00 $96,708.80 $210,000.00 $0.00 $25,046.20 11.93%
40-30-000 Development Services $1,900,000.00 $1,862,000.00 $0.00 $1,862,000.00 $0.00 $38,000.00 $1,900,000.00 $0.00 $1,112,000.00 58.53%
40-30-300 Development Services $1,860,000.00 $1,860,000.00 $0.00 $1,860,000.00 $0.00 $0.00 $1,860,000.00 $0.00 $1,110,000.00 59.68%
40-30-310 Financial, Accounting & Investment Services $40,000.00 $2,000.00 $0.00 $2,000.00 $0.00 $38,000.00 $40,000.00 $0.00 $2,000.00 5.00%
40-35-000 Legal Services $50,000.00 $46,329.33 $548.00 $46,877.33 $0.00 $3,122.67 $50,000.00 $0.00 $46,877.33 93.75%
40-35-300 Legal Services $50,000.00 $46,329.33 $548.00 $46,877.33 $0.00 $3,122.67 $50,000.00 $0.00 $46,877.33 93.75%
40-90-000 Other Development Costs $397,000.00 $39,264.76 $225.00 $39,489.76 $0.00 $357,510.24 $397,000.00 $0.00 $20,489.76 5.16%
40-90-115 Payroll, Staff, Administration & Benefits-EDA $218,000.00 $0.00 $0.00 $0.00 $0.00 $218,000.00 $218,000.00 $0.00 $0.00 0.00%
40-90-120 General Expenses-EDA $79,000.00 $1,264.76 $225.00 $1,489.76 $0.00 $77,510.24 $79,000.00 $0.00 $1,489.76 1.89%
40-90-300 Reimbursable Expenses $100,000.00 $38,000.00 $0.00 $38,000.00 $0.00 $62,000.00 $100,000.00 $0.00 $19,000.00 19.00%
Subtotal $2,800,000.00 $2,347,500.76 $773.00 $2,348,273.76 $0.00 $451,726.24 $2,800,000.00 $0.00 $1,359,225.36 48.54%
PROJECT CONTINGENCY
90-00-000 Project Contingency $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 0.00%
Subtotal $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 0.00%
PROJECT TOTAL $2,800,000.00 $2,347,500.76 $773.00 $2,348,273.76 $0.00 $451,726.24 $2,800,000.00 $0.00 $1,359,225.36 48.54%
Work in PlaceSchedule of Values
August 31, 2015
HAMMES
COMPANY AUGUST
2015
The following Contract Summary Report is included herein as
Section 5 .0 .
Report 4003
9/2/2015 - 4:26 PM Page 1 of 1
DMC - ECONOMIC DEVELOPMENT AGENCY (2015)
CONTRACT SUMMARY REPORT #3
Division Description
Co
n
t
r
a
c
t
Vendor Name Contract
Number
Original
Contract
Amount
Contract
Revisions
Committed
Costs
Direct
Owner
Purchases
Work in
Place
Percent
Complete
DEVELOPMENT COSTS
40-05-000 Architecture & Engineering $13,390.47 $0.00 $13,390.47 $0.00 $1,299.57 9.71%
40-05-300 Planning Services, Architecture, Engineering X CARROLL, FRANCK & ASSOCIATES 4020 $13,390.47 $0.00 $13,390.47 $0.00 $1,299.57 9.71%
40-25-000 Marketing & Public Relations $386,516.20 $0.00 $386,516.20 $0.00 $178,558.70 46.20%
40-25-300 Communications, Marketing & PR X HIMLE RAPP & CO., INC.4017 $255,000.00 $0.00 $255,000.00 $0.00 $152,500.00 59.80%
40-25-300 Communications, Marketing & PR X GINA MARIA CHIRI-OSMOND 4027 $18,225.00 $0.00 $18,225.00 $0.00 $1,012.50 5.56%
40-25-310 Public Relations & Communications X BRANDHOOT 4016 $41,051.20 $0.00 $41,051.20 $0.00 $11,221.20 27.33%
40-25-310 Public Relations & Communications X SAM SMITH 4030 $72,240.00 $0.00 $72,240.00 $0.00 $13,825.00 19.14%
40-30-000 Development Services $1,862,000.00 $0.00 $1,862,000.00 $0.00 $1,112,000.00 59.72%
40-30-300 Development Services X HAMMES COMPANY SPORTS DEVEL.DMA $1,860,000.00 $0.00 $1,860,000.00 $0.00 $1,110,000.00 59.68%
40-30-310 Financial, Accounting & Investment Services X CLIFTONLARSONALLEN LLP 4041 $2,000.00 $0.00 $2,000.00 $0.00 $2,000.00 100.00%
40-35-000 Legal Services $46,329.33 $548.00 $46,877.33 $0.00 $46,877.33 100.00%
40-35-300 Legal Services X DORSEY & WHITNEY LLP 4015 $43,049.83 $0.00 $43,049.83 $0.00 $43,049.83 100.00%
40-35-300 Legal Services X MICHAEL BEST & FRIEDRICH LLP 4021 $3,279.50 $548.00 $3,827.50 $0.00 $3,827.50 100.00%
40-90-000 Other Development Costs $39,264.76 $225.00 $39,489.76 $0.00 $20,489.76 51.89%
40-90-120 General Expenses-EDA X CITY MARKET DOWNTOWN 4018 $97.79 $0.00 $97.79 $0.00 $97.79 100.00%
40-90-120 General Expenses-EDA X CWS, INC.4033 $900.00 $225.00 $1,125.00 $0.00 $1,125.00 100.00%
40-90-120 General Expenses-EDA X DELUXE BUSINESS PRODUCTS 4042 $266.97 $0.00 $266.97 $0.00 $266.97 100.00%
40-90-300 Reimbursable Expenses X HAMMES COMPANY SPORTS DEVEL.DMA $38,000.00 $0.00 $38,000.00 $0.00 $19,000.00 50.00%
Subtotal $2,347,500.76 $773.00 $2,348,273.76 $0.00 $1,359,225.36 57.88%
PROJECT CONTINGENCY
90-00-000 Project Contingency $0.00 $0.00 $0.00 $0.00 $0.00 0.00%
Subtotal $0.00 $0.00 $0.00 $0.00 $0.00 0.00%
PROJECT TOTAL $2,347,500.76 $773.00 $2,348,273.76 $0.00 $1,359,225.36 57.88%
August 31, 2015
Status
HAMMES
COMPANY AUGUST
2015
The following Master Application for Payment is included herein as
Section 6.0 .
There was no Master A pplication for Payment for the month of
May .
MASTER APPLICATION FOR PAYMENT
MAP for undisputed labor, services, or materials
Page 1 of 1
MASTER APPLICATION FOR PAYMENT (Form 4020)
From:HAMMES COMPANY Application No.:3 Please Remit To:
Application Date:August 1, 2015
Hammes Project No:40050-06
To:DMC Economic Development Authority Period From:July 1, 2015
200 First Street SW Period To:July 31, 2015
Rochester, MN 55905 Project Name:DMC
Attention:Executive Director Economic Development Agency (2015)
PROJECT MANAGER:STATEMENT OF PROJECT:
ORIGINAL MASTER PROJECT BUDGET . . . . . . . . . . . . . . . . . . $
CURRENT MASTER PROJECT BUDGET . . . . . . . . . . . . . . . . . . $
Signed By:
Hammes Company Sports Development, Inc.
Date:August 1, 2015 TOTAL COMPLETED & STORED TO DATE . . . . . . . . . . . . . . . . $
Name:Robert P. Dunn RETAINAGE TO DATE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
TOTAL COMPLETED LESS RETAINAGE . . . . . . . . . . . . . . . . . . $
SOURCES OF FUNDS:
City Contribution LESS PREVIOUS REQUESTS . . . . . . . . . . . . . . . . . . . . . . . . . . . $
CURRENT AMOUNT DUE (A + B) . . . . . . . . . . . . . . . . . . . . . . . . $
CURRENT PAYMENTS DUE (A) . . . . . . . . . . . . . . . . . . . . . . . . .$
CURRENT SOURCES OF FUNDS DIRECT OWNER PURCHASES DUE (B) . . . . . . . . . . . . . . . . . . $
USES OF FUNDS:APPROVALS:
40 - Development Costs
50 - Financing Costs
60 - Other Project Costs
90 - Project Contingency
EDA:Date
DMCC: Date
CURRENT USES OF FUNDS
-$
201,362.79$
Current Application
201,362.79$
-
201,362.79
201,362.79
Acct Name:
Acct No:
Bank:
Notify:
2,800,000.00
2,800,000.00
1,359,225.36
-
1,359,225.36
Submitted in accordance with the Contract Documents for approval by the
EDA.
1,157,862.57
201,362.79$
Current Application
-$
-$
201,362.79$
MAP for undisputed labor, services, or materials
Page 1 of 1
DETAIL SOURCES AND USES REPORT #3
Division Description Final Projected
Cost
Previous
Billings
Current
Billing
Total
Billed To Date
Balance to
Complete
SOURCES OF FUNDS
00-30-005 City Contribution $2,800,000.00 $1,157,862.57 $201,362.79 $1,359,225.36 $1,440,774.64
Total Sources of Funds $2,800,000.00 $1,157,862.57 $201,362.79 $1,359,225.36 $1,440,774.64
USES OF FUNDS
40-00-000 Development Costs $2,800,000.00 $1,157,862.57 $201,362.79 $1,359,225.36 $1,440,774.64
90-00-000 Project Contingency $0.00 $0.00 $0.00 $0.00 $0.00
Total Uses of Funds $2,800,000.00 $1,157,862.57 $201,362.79 $1,359,225.36 $1,440,774.64
August 1, 2015
MAP for undisputed labor, services, or materials
Page 1 of 1
DESTINATION MEDICAL CENTERECONOMIC DEVELOPMENT AUTHORITY (2015)
Division Description Vendor Contract
No
Previous
Billing
Current
Work In Place
Direct Owner
Purchase
Total
Work to Date
Percent
Complete
Previous
Retainage
Current
Retainage
Total
Retainage
DEVELOPMENT COSTS
40-05-000 Architecture & Engineering $1,299.57 $0.00 $0.00 $1,299.57 9.71%$0.00 $0.00 $0.00
40-05-300 Planning Services, Architecture, Engineering CARROLL, FRANCK & ASSOCIATES 4020 $1,299.57 $0.00 $0.00 $1,299.57 9.71%$0.00 $0.00 $0.00
40-25-000 Marketing & Public Relations $131,093.70 $47,465.00 $0.00 $178,558.70 46.20%$0.00 $0.00 $0.00
40-25-300 Communications, Marketing & PR HIMLE RAPP & CO., INC.4017 $115,000.00 $37,500.00 $0.00 $152,500.00 59.80%$0.00 $0.00 $0.00
40-25-300 Communications, Marketing & PR GINA MARIA CHIRI-OSMOND 4027 $1,012.50 $0.00 $0.00 $1,012.50 5.56%$0.00 $0.00 $0.00
40-25-310 Public Relations & Communications SAM SMITH 4030 $7,910.00 $5,915.00 $0.00 $13,825.00 19.14%$0.00 $0.00 $0.00
40-25-310 Public Relations & Communications BRANDHOOT 4016 $7,171.20 $4,050.00 $0.00 $11,221.20 27.33%$0.00 $0.00 $0.00
40-30-000 Development Services $962,000.00 $150,000.00 $0.00 $1,112,000.00 59.72%$0.00 $0.00 $0.00
40-30-300 Development Services HAMMES COMPANY SPORTS DEVEL.DMA $960,000.00 $150,000.00 $0.00 $1,110,000.00 59.68%$0.00 $0.00 $0.00
40-30-310 Financial, Accounting & Investment Services CLIFTONLARSONALLEN LLP 4041 $2,000.00 $0.00 $0.00 $2,000.00 100.00%$0.00 $0.00 $0.00
40-35-000 Legal Services $46,877.33 $0.00 $0.00 $46,877.33 100.00%$0.00 $0.00 $0.00
40-35-300 Legal Services DORSEY & WHITNEY LLP 4015 $43,049.83 $0.00 $0.00 $43,049.83 100.00%$0.00 $0.00 $0.00
40-35-300 Legal Services MICHAEL BEST & FRIEDRICH LLP 4021 $3,827.50 $0.00 $0.00 $3,827.50 100.00%$0.00 $0.00 $0.00
40-90-000 Other Development Costs $16,591.97 $3,897.79 $0.00 $20,489.76 51.89%$0.00 $0.00 $0.00
40-90-120 General Expenses-EDA CITY MARKET DOWNTOWN 4018 $0.00 $97.79 $0.00 $97.79 100.00%$0.00 $0.00 $0.00
40-90-120 General Expenses-EDA CWS, INC.4033 $1,125.00 $0.00 $0.00 $1,125.00 100.00%$0.00 $0.00 $0.00
40-90-120 General Expenses-EDA DELUXE BUSINESS PRODUCTS 4042 $266.97 $0.00 $0.00 $266.97 100.00%$0.00 $0.00 $0.00
40-90-300 Reimbursable Expenses HAMMES COMPANY SPORTS DEVEL.DMA $15,200.00 $3,800.00 $0.00 $19,000.00 50.00%$0.00 $0.00 $0.00
Subtotal $1,157,862.57 $201,362.79 $0.00 $1,359,225.36 57.88%$0.00 $0.00 $0.00
PROJECT CONTINGENCY
90-00-000 Project Contingency $0.00 $0.00 $0.00 $0.00 0.00%$0.00 $0.00 $0.00
Subtotal $0.00 $0.00 $0.00 $0.00 0.00%$0.00 $0.00 $0.00
PROJECT TOTAL $1,157,862.57 $201,362.79 $0.00 $1,359,225.36 $0.00 $0.00 $0.00
Current
Work In Place
Direct Owner
Purchase
Total
Current Work
Current Work In Place $201,362.79 $0.00 $201,362.79
Less Current Retainage Held $0.00 $0.00 $0.00
Net Amount Due $201,362.79 $0.00 $201,362.79
Retainage
August 1, 2015
Work Completed To Date
MASTER APPLICATION FOR PAYMENT DETAIL #3
MAP for undisputed labor, services, or materials
Page 1 of 1
DESTINATION MEDICAL CENTER
ECONOMIC DEVELOPMENT AUTHORITY (2015)
INVOICE SUMMARY REPORT #3
Vendor Name Description Invoice No Invoice Date Invoice Amount Retainage Held Amount Due Approval
BRANDHOOT Public Relations and Communications 1335 8/1/2015 $4,050.00 $0.00 $4,050.00
CITY MARKET DOWNTOWN Catering 101338777 7/15/2015 $97.79 $0.00 $97.79
HAMMES COMPANY SPORTS DEVEL.Development Manager Agreement 5005-017 8/1/2015 $153,800.00 $0.00 $153,800.00
HIMLE RAPP & CO., INC.Consulting Services-Strategy 0715 8/4/2015 $37,500.00 $0.00 $37,500.00
SAM SMITH Social Media June 2015 8/1/2015 $2,765.00 $0.00 $2,765.00
SAM SMITH Social Media July 2015 8/1/2015 $3,150.00 $0.00 $3,150.00
GRAND TOTAL $201,362.79 $0.00 $201,362.79
August 1, 2015
HAMMES
COMPANY AUGUST
2015