Land Bank Agency

LAND BANK BOARD MEETING August 21, 2023 3:00 p.m. Training Room 210 City Hall, 903 W Main Street Blue Springs, Missouri 64015 Anyone wishing to address the Land Bank in the Visitors Section of the Agenda, must fill out a Speaker’s Appearance Form. Forms are available online or located at the entrance of the conference room. After completion, the form is to be given to the Board Secretary prior to the start of the meeting. 1. Call to Order 2. Confirmation of a Quorum 3. Approval of the July 17, 2023 Land Bank Meeting Minutes 4. Approval of 2023-2024 Annual Budget 5. 2023 Tax Sale Staff Update 6. Visitors 7. Adjourn Posted Thursday, August 17, 2023 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. Sarah Carnes Board Secretary  CITY OF BLUE SPRINGS, MISSOURI MINUTES OF LAND BANK MEETING JULY 17, 2023 A meeting of the Land Bank of Blue Springs, Missouri was held on Monday, July 17, 2023 at 3:00 p.m. with Chairman White-Baldridge presiding. COMMISSIONERS IN Tracy White-Baldridge, Chair Kirk Sampson - ABSENT ATTENDANCE James May Rodney Hill Jennifer Irey - ABSENT Also present were Staff Liaisons Christine Cates, Sarah Carnes, Tom Degenhardt, and Adam Hilgedick CALL TO ORDER AND Chair White-Baldridge called the Land Bank meeting to order at 3:00 CONFIRMATION OF A p.m. The Board Secretary confirmed a quorum of the Lank Bank was QUORUM present. APPROVE BOARD Commissioner May moved to approve the minutes of the May 15, 2023 MINUTES Meeting of the Land Bank of Blue Springs. Motion seconded by Commissioner Hill and carried with the following votes: Sampson – ABSENT Hill – Aye Irey – ABSENT May – Aye White-Baldridge – Aye QUARTERLY Interim City Administrator Christine Cates presented the Quarterly FINANCIAL Financial Statements for the Third Quarter of Fiscal Year 2022-2023. STATEMENTS Chair White-Baldridge asked Ms. Cates for a brief explanation on how the Neighborhood Improvement District gets paid for the assessments on the Land Bank properties. ADJOURNMENT There being no further business, Commissioner May moved to adjourn the meeting. Motion seconded by Commissioner Hill and carried with the following votes: Sampson – ABSENT Hill – Aye Irey – ABSENT May – Aye White-Baldridge – Aye Chairman May declared the meeting adjourned at 3:07 p.m. _____________________________ ___________________________ Tracy White-Baldridge, Chair Sarah E. Carnes, Board Secretary The Land Bank Board is being asked to approve an increase in expenditures and revenues for fiscal year 2023. Transfers for Neighborhood Improvement District debt will include all revenues associated with NID properties until all past due assessments are fully reimbursed. Fiscal Year 2023 Land Bank Budget Amendment Account Description Amount Revenue Lease Revenue Chapman Farm Lease for 2023 $ 8,820 Property Tax Increase in taxes – Edgewater & Cambridge Park $ 217,015 Interest Income Interest on taxes and funds held from sales $ 15,550 Total Revenue $ 241,385 Expenditures Professional Services Fees associated with Tree Services $ 12,840 Tax Collection Services Tax collection fees of 1% and 4% for Land Bank $ 12,390 Tax Assessment Services Tax assessment fee of 0.6% $ 1,315 Transfer to City for DS – NID 2022 Property Tax for NID Properties $ 219,685 TOTAL $ 246,230 The FY2024 budget is being submitted for your review and approval. Included in this budget is a transfer to the City’s general fund for property tax and NID special assessment for those Land Bank post-sale parcels that are in the NID. Although there are a few pending contracts for the sale of Land Bank property that may finalize in FY 2024, those funds are not included in the budget. Once the sale is completed, a request for an amended FY 2024 budget will be submitted. Fiscal Year 2024 Land Bank Budget Account Description Amount Revenue Property Tax Three years of property taxes – post sale $ 351,099 Interest Income Interest earned on cash in bank $ 10,000 Total Revenue $ 361,099 Expenditures Tax Collection Services Jackson County 1% collection fee $ 3,475 Tax Collection Services - LB Jackson County 4% fee for costs related to LB $ 13,900 Tax Assessment Services Jackson County 0.06% fee for assessing value $ 1,115 Insurance Premiums & Bond Truss $ 500 Transfer to City for NID Debt Net revenues associated with any NID property $ 328,905 Total Expenditures $ 347,895 The 2024 budget does not include non-cash items such as Contributed Capital or Loss on the Sale of Assets. These items will be recorded when properties are either transferred to the Land Bank by the County or when the Land Bank sells a property. Other Land Bank expenditures that are not included in the budget and that are paid by the City include office supplies, postage, and audit costs. The proposed budget may be amended throughout the year if additional property sales occur or additional expenditures become necessary.  City of Blue Springs Land Bank Fund Budget Summary FY 2023-24 Annual Budget 2022-23 Year- 2023-24 2021-22 2022-23 Adopted $ Change % Change $ Change % Change LAND BANK FUND End Budget Actual Budget from 2023 from 2023 from 2023 from 2023 Projection Request REVENUES Taxes 111,848 225,784 442,799 217,015 96% 351,099 125,315 56% Charges for Service - 25 25 - 0% - (25) -100% Interest 6,541 1,500 17,050 15,550 1037% 10,000 8,500 567% Sales & Rental 985,803 - 8,820 8,820 0% - - 0% Other Income - - - - 0% - - 0% TOTAL REVENUES 1,104,192 227,309 468,694 241,385 106% 361,099 133,790 59% EXPENDITURES Supplies and Materials - - - - 0% - - 0% Contractual Services 67,876 11,900 38,445 26,545 223% 18,990 7,090 60% Capital Outlay 52,901 - - - 0% - - 0% TOTAL EXPENDITURES 120,777 11,900 38,445 26,545 223% 18,990 7,090 60% EXCESS OF REVENUES OVER (UNDER) EXPENDITURES 983,415 215,409 430,249 214,840 100% 342,109 126,700 -1% OTHER FINANCING SOURCES (USES): OPERATING TRANSFERS IN From General Fund - ‐ - - 0% - - 0% TOTAL OPERATING TRANSFERS IN - - - - 0% - - 0% OPERATING TRANSFERS OUT 1,017,661 213,500 433,185 219,685 103% 328,905 115,405 54% TOTAL OPERATING TRANSFERS OUT 1,017,661 213,500 433,185 219,685 103% 328,905 115,405 54% TOTAL OTHER FINANCING SOURCES (USES) (1,017,661) (213,500) (433,185) (219,685) 103% (328,905) (115,405) 54% NET CHANGES IN FUND BALANCES (34,246) 1,909 (2,936) (4,845) 13,204 FUND BALANCES - BEGINNING OF YEAR 354,712 320,466 320,466 317,530 FUND BALANCES - END OF YEAR 320,466 322,375 317,530 330,734 2022-23 Year- 2023-24 2021-22 2022-23 Adopted $ Change % Change $ Change % Change End Budget Actual Budget from 2023 from 2023 from 2023 from 2023 Projection Request Revenue Budget Summary Land Bank 2022-23 2022-23 2022-23 2023-24 2019-20 2020-21 2021-22 $ Change % Change Account Account Description Adopted Year-End Budget Budget Actual Actual Actual from 2022 from 2022 Budget Projection Adjustment Request 770-00000-401100 PROPERTY TAX - CURRENT 48,835 111,848 237,083 225,784 442,534 216,750 343,947 118,163 52% 770-00000-401190 PROPERTY TAX - INTEREST 50 ‐ 265 265 7,152 7,152 0% Total Taxes 48,835 111,848 237,133 225,784 442,799 217,015 351,099 125,315 56% - - ‐ ‐ 0% Total Licenses and Permits - - - - ‐ 0% - - - ‐ 0% Total Intergovernmental - - - - ‐ 0% 770-00000-430140 PURCHASE APPLICATION FEE 25 ‐ ‐ 25 25 - ‐ (25) -100% Total Charges for Service 25 - - 25 25 - - (25) -100% - - - ‐ 0% Total Fines and Penalties - - - - ‐ 0% 770-00000-450100 INTEREST INCOME 1,444 6,541 2,385 1,500 17,050 15,550 10,000 8,500 567% Total Interest Earnings 1,444 6,541 2,385 1,500 17,050 15,550 10,000 8,500 567% 770-00000-460300 SALE OF CITY PROPERTY 232,024 980,203 100 ‐ ‐ - ‐ ‐ 0% 770-00000-460610 LEASE REVENUE 12,839 5,600 ‐ ‐ 8,820 8,820 ‐ ‐ 0% Total Sales & Rentals 244,863 985,803 100 - 8,820 8,820 - ‐ 0% 770-00000-480999 CONTRIBUTED CAPITAL 51,739 - - - ‐ 0% Total Other Income 51,739 - - - - - - ‐ 0% - - - ‐ 0% Total Operating Transfers In - - - - ‐ 0% TOTAL LAND BANK REVENUES 346,906 1,104,192 239,618 227,309 468,694 241,385 361,099 133,790 59% \\cbswin1\finance\Economic Development\Land Bank\Land Bank Budget\FY 2024\Copy of FY 2023‐2024 Budget Worksheet.xlsx Copy of FY 2023‐2024 Budget Worksheet.xlsx Revenue Summary Expenditure Budget Summary Land Bank 2022-23 2022-23 2023-24 2019-20 2022-23 Year $ Change from % Change from Account Account Description 2020-21 Actual 2021-22 Actual Adopted Budget Budget Actual End Projection 2023 2023 Budget Adjustment Request OFFICE SUPPLIES ‐ ‐ ‐ - 0% POSTAGE ‐ ‐ ‐ - 0% Total Supplies and Materials - - - 0% 770-00000-530100 PROFESSIONAL SERVICES 15,196 61,526 2,272 ‐ 12,840 12,840 ‐ - 0% LEGAL SERVICES ‐ ‐ ‐ ‐ ‐ ‐ ‐ - 0% AUDIT SERVICES ‐ ‐ ‐ ‐ ‐ ‐ ‐ - 0% 770-00000-530200 TAX COLLECTION SERVICES 488 1,149 2,371 2,200 5,675 3,475 3,475 1,275 58% 770-00000-530200 TAX COLLECTION SERVICES - LAND BANK 4% 1,953 4,597 9,485 8,800 17,715 8,915 13,900 5,100 58% 770-00000-530210 TAX ASSESSMENT SERVICES 30 104 680 400 1,715 1,315 1,115 715 179% TRAINING AND EDUCATION ‐ ‐ ‐ ‐ ‐ ‐ ‐ - 0% MEETING & BUSINESS EXPENSES ‐ ‐ ‐ ‐ ‐ ‐ ‐ - 0% DUES & MEMBERSHIPS ‐ ‐ ‐ ‐ ‐ ‐ ‐ - 0% 770-00000-530410 INSURANCE PREMIUMS & BONDS 500 500 500 500 500 ‐ 500 - 0% INSURANCE DEDUCTIBLES ‐ ‐ ‐ ‐ ‐ ‐ ‐ - 0% PRINTING & DUPLICATING ‐ ‐ ‐ ‐ ‐ ‐ ‐ - 0% ADVERTISING & PROMOTION ‐ ‐ ‐ ‐ ‐ ‐ ‐ - 0% LICENSES, FEES & PERMITS ‐ ‐ ‐ ‐ ‐ ‐ ‐ - 0% Total Contractual Services 18,168 67,876 15,308 11,900 38,445 26,545 18,990 7,090 60% LAND ‐ ‐ ‐ ‐ ‐ ‐ ‐ - 0% 770-00000-549000 GAIN/LOSS ON SALE OF LAND 70,123 52,901 ‐ ‐ ‐ ‐ ‐ - 0% Total Capital Outlay 70,123 52,901 - - - - - - 0% TRANSFER TO CITY FOR NUISANCE VIOLATIONS ‐ ‐ ‐ ‐ ‐ ‐ ‐ - 0% 770-00000-550400 TRANSFER TO CITY FOR DS PAYMENTS - NID 686,931 1,017,661 224,196 213,500 433,185 219,685 328,905 115,405 54% ‐ ‐ ‐ ‐ ‐ - 0% Total Operating Transfers Out 686,931 1,017,661 224,196 213,500 433,185 219,685 328,905 115,405 54% TOTAL LAND BANK EXPENSES 775,222 1,138,438 239,504 225,400 471,630 246,230 347,895 122,495 54% \\cbswin1\finance\Economic Development\Land Bank\Land Bank Budget\FY 2024\Copy of FY 2023‐2024 Budget Worksheet.xlsx Copy of FY 2023‐2024 Budget Worksheet.xlsx Expenditure Summary