Land Bank Agency

LAND BANK BOARD MEETING January 23, 2020 3:00 p.m. Training Room 210 City Hall, 903 W Main Street Blue Springs, Missouri 64015 1. Approval of the December 16, 2019 Land Bank Board Meeting Minutes 2. Land Bank Quarterly Financial Statements 3. Executive Session – Discussion relating to real estate pursuant to Sections 610.021 (2), RSMo Posted Wednesday, January 22, 2020 at City Hall, 903 W Main Street, Blue Springs, MO and on the City’s website. A quorum of the City Council may be in attendance, however no City Council votes will be taken. Julia Porter Board Secretary  CITY OF BLUE SPRINGS, MISSOURI MINUTES OF LAND BANK MEETING DECEMBER 16, 2019 A meeting of the Land Bank of Blue Springs, Missouri was held on Monday, December 16, 2019 at 3:00 p.m. in the Administration Conference Room of City Hall, 903 W Main Street, Blue Springs, Missouri with Chairman Johnson presiding. COMMISSIONERS IN Eric Johnson Tracy White-Baldridge ATTENDANCE James May Jim Fairbanks Kirk Sampson Also present were Staff Liaisons Christine Cates; Jackie Sommer, Chris Sandie; Karen Van Winkle; Tom Cole; and Board Secretary Julia Porter. CALL TO ORDER Chairman Johnson called the Land Bank meeting to order at 3:00 p.m. APPROVE BOARD Commissioner Fairbanks moved to approve the minutes of the MINUTES November 18, 2019 meeting of the Land Bank of Blue Springs. Motion seconded by Commissioner May and carried unanimously. EXECUTIVE SESSION At 3:01 p.m., Commissioner Sampson moved that the Land Bank go into closed session pursuant to Section 610.021, subparagraph (2), Revised Statutes of Missouri, for the purpose of privileged communications between a governmental body or its representative and legal counsel including real estate, and that any minutes, documents and other records discussed or taken during the closed session remain closed, and that this body stand adjourned at the completion of such session. Motion seconded by Commissioner May and carried with the following votes: White-Baldridge – Aye Fairbanks – Aye May – Aye Johnson – Aye Sampson – Aye ______________________________ Eric Johnson, Chair ________________________ Julia Porter, Board Secretary  CITY OF BLUE SPRINGS BALANCE SHEET - LAND BANK FISCAL YEAR 2019-20 FOR THE PERIOD ENDED - DECEMBER 31, 2019 CATEGORY LAND BANK ASSETS Cash and investments $ 91,040 Receivables (net of allowances Taxes - Accounts Accrued interest - Interfund receivables - Land 314,789 Prepaid items - TOTAL ASSETS $ 405,829 LIABILITIES Accounts payable $ 35,170 Accrued liabilities - Interfund payable - Long term debt - TOTAL LIABILITIES $ 35,170 FUND BALANCES Reserved for: Encumbrances - Unassigned 370,659 TOTAL FUND BALANCES $ 370,659 TOTAL LIABILITIES AND FUND BALANCE $ 405,829 Page 1  CITY OF BLUE SPRINGS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - LAND BANK FISCAL YEAR 2019-20 FOR THE PERIOD ENDED - DECEMBER 31, 2019 CATEGORY LAND BANK REVENUES: Farm Lease $ 12,839 Sale of Land - Property Taxes 4,395 Interest 250 Contributed Capital - Land - Other - TOTAL REVENUES $ 17,483 EXPENDITURES: Current: Personal Services - Materials & Supplies - Contractual Services 421,770 Capital Outlay - Capital Improvements - Debt service: - Principal retirement - Interest and fiscal charges - TOTAL EXPENDITURES $ 421,770 Excess of revenues over (under) expenditures $ (404,287) OTHER FINANCING SOURCES (USES): Issuance of bonds - Discount on bond issuance Loss on sale of asset - Transfers in Transfers (out) - TOTAL OTHER FINANCING SOURCES (USES) $ - NET CHANGE IN FUND BALANCES (404,287) FUND BALANCES - OCTOBER 1, 2019 $ 774,946 FUND BALANCES - DECEMBER 31, 2019 $ 370,659 Page 2