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St. Joseph Economic Development Authority
Tuesday, January 20th, 2026
12:00 PM
75 Callaway St E (St. Joseph City Hall)
** The meeting will also be offered remotely via Zoom**
1. Call to order
2. Public Comments
3. Approve Agenda
4. 2026 Chair and Vice Chair nomination and Finance Team
nominations
5. Consent Agenda
a. Minutes – December 16th, 2025
b. Financial Report – December
6. Joetown Tourism Update
7. Highway Façade Grant Revisions
8. Connecting Entrepreneurial Communities Conference
update
9. General Business updates
10. Board Member Announcements
Zoom Meeting Information
Join Zoom Meeting
https://us06web.zoom.us/j/82698897944?pwd=b1RaeE5IenZ0L0Z0ejF4UWhvWUVidz09
Meeting ID: 826 9889 7944
Passcode: 725385
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December 16th, 2025
Page 1 of 1
Pursuant to due call and notice thereof, the St. Joseph Economic Development Authority met on
Tuesday, December 16th,, 2025 at 12:00 PM.
Members Present: Board Members Kelly Beniek, Larry Hosch, Kevin Kluesner, Ross Huls
Members Absent: Joe Bye
City Representatives Present: Nate Keller Community Development Director
Hosch called the St. Joseph Economic Development Authority meeting to order at 12:01 PM
Public Comments: None
Agenda Approval: Kluesner made a motion to approve the agenda; seconded by Huls and passed
unanimously by those present.
Consent Agenda:
Hosch made a motion to approve the consent agenda; seconded by Kluesner and passed
unanimously by those present.
a. Minutes – November 18th, 2025
b. Financial Report November
Connecting Entrepreneurial Communities Conference update
Recap of the December 11th local team meeting was provided by Keller. Notes from the meeting were
included in the packet. Keller mentioned the biggest accomplishment of last meeting was deciding on the
keynote panel. Members of the local team have also been partnered up with members of the Program
team for the purpose of brainstorming and providing recommendations on the breakout session topics,
speakers, etc. Hosch mentioned that Great Northern Ventures would be a great group to reach out to
specifically in terms of accessing capital and resources.
U of MN Memorandum of Agreement – CEC Conference
Overview of the Memorandum of Agreement was provided by Keller. Board members asked about some
of the items in the draft specifically those that would fall under staff responsibility. Keller stated he is
comfortable with the items in the Memorandum as he is already doing these things.
Kluesner made a motion to approve the University of MN Memorandum of Agreement; seconded
by Beniek and passed unanimously by those present.
EDA Highway Façade Grant – Potential Expansion
Keller provided an overview of the draft along with budget information, and historical details on the
number of grants given over the past five years. Question was asked relating to: Industrial properties,
commercial/general business, beautification and areas of commerce and more.
Board suggested to clarify that grant can be for properties that are zoned as General Business (which
includes both B-2 and B-3 districts). Keller will bring back some further tweaks next month.
General Business updates
Updates provided on: Rural Residential Housing, Monastery, Joetown Tourism meeting on Jan. 12th from
6-7:30 at The House, River’s Bend Park, Entrepreneurs looking for space.
Board member announcements
None
Adjourn: Beniek made a motion to adjourn the meeting at 12:42PM, seconded by Kluesner and
passed unanimously by those present.
Minutes by:
Nate Keller
Community Development Director
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EDA Agenda Items 6-8
MEETING DATE: January 20th, 2026
AGENDA ITEMS: 6-8
PREVIOUS BOARD ACTION:
6 – last update was several months back
7 – discussion last month on expansion of grant.
8 – just informational
BACKGROUND INFORMATION:
6 – Joetown Tourism Update
Mary Bruno will join us and provide a quick update about how things are going with the
Tourism group and things they are looking forward to in 2026. A meeting was held on January
12th and Mary will provide update on how the meeting went as well.
7 – Highway Façade Grant Revisions
Discussion has occurred at the last few EDA meetings on potentially expanding the Highway Façade
grant to cover other corridors like CR 133 and CR 2. During last month’s discussion the conversation
focused on what types of properties should be eligible with specific focus on Commercial versus
Industrial zoned property along corridor areas like County Road 133.
The grant has been revised to include just Commercial properties that are located along Highway 75,
County Road 2, Minnesota Street, and County Road 133 – see attached zoning map.
Staff would ask that the EDA take action (adopt) the revised application and changes or provide further
direction on next steps.
Here is information shared last month regarding how many grants are typically given out:
Per previous discussion the grants given out over the past five years are shown below:
Year Number of Grants
2025 (to-date) 3
2024 6 (one was a demolition grant)
2023 2
2022 5
2021 1
2020 1* - *Two revolving loan funds were granted.
Avg of 3 grants a year
For financials –
• EDA has historically budgeted $25,000 annually for grants (including demolition grants)
• Two years ago the city approved a one-time allocation of $10,000 for Joetown blocks event
• Last year the city approved an increase of $5,400 for Mary Bruno Tourism Coordinator contract.
This money is taken from the EDA program funds budget
• Expected budget for 2026 and beyond - $19,600
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• This would mean a potential max of 8 Façade grants a year at $2,000 max + a demolition grant
of $3,500
8 – Connecting Entrepreneurial Communities Conference Update
Break-out sessions are really coming together for this conference which will be held on Sept. 17th, 18th
2026. Updates will be provided on where the local team and University of MN Program team are at in
their planning efforts.
9 – General Business updates
Verbal updates will be provided.
BUDGET/FISCAL IMPACT:
If Façade grant is expanded that would allow more potential grant projects and grants would be limited to
first come first serve basis if the max budget is reached.
ATTACHMENTS:
7 – Highway Façade Grant with revisions in red and zoning map
REQUESTED BOARD ACTION:
6 – none just informational
7 – motion to adopt the revised application or direction on next steps
8 – none just informational
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Attachment 1
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ST. JOSEPH HIGHWAY CORRIDORS
FAÇADE GRANT PROGRAM
PURPOSE
The St. Joseph Highway 75 Commercial Corridors Façade Grant Program provides incentives to stimulate
visible investment in St. Joseph businesses that are located directly abutting Highway 75on major Highway
Corridors in the city.
The program provides a matching grant for design and construction costs, up to $2,000 per property
address, per calendar year. For projects that result in a conversion of a non-conforming use to a conforming
use a matching grant of up to $3,000 will be allowed. For example, if the property is zoned Commercial but
current use is residential and the façade improvements will result in conversion to commercial then project
is eligible for up to $3,000
Qualifying projects must:
• abut Highway 75
• abut County Road 2, 75, 133, 134, Minnesota Street
• be an approved design
• be applied for by commercial property owners and/or merchants,
• be on a property zoned B-2 Highway Business or B-3 General Business as shown in the city’s
official Zoning map
• be applicable to exterior building, landscape improvements, and other similar improvements visible
from a public right-of-way.
• Must not be for projects where a new building is being constructed
Approved projects will be funded on a first-come/first-served basis until all funds are expended. In addition,
the opportunity exists that the St. Joseph Economic Development Authority’s revolving loan program could
be available to assist with construction costs associated with the implementation of façade designs.
ELIGIBILITY
1. All work must be done on the exterior of the building/property and/or result in a publicly visible
improvement seen from Highway 75.
2. All work done must be in accordance with the City of St. Joseph Code of Ordinances, and the building
code. All required permits must be obtained. Work shall include the correction of any known exterior
building code violations.
3. Work in progress or performed prior to project approval will typically not be eligible for funding unless
the EDA finds significant underlying purposes for work beginning prior to project approval.
4. Funds may be used for the design of exterior building improvements, awnings, windows, doors and/or
site landscaping, other than sod or seed, resulting in a publicly visible improvement and for actual
construction costs related to an approved improvement. Other uses may also be eligible if prior approval
is granted by the St. Joseph Economic Development Authority.
5. Signs are eligible for this program but must be in connection with a façade improvement project. Sign
are not eligible as a “stand-alone” project unless approved by the EDA.
6. The following types of property are not eligible:
• Tax delinquent
• Special Assessment delinquent
• Property in litigation 66
• Property in condemnation or receivership

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• Tax exempt properties
• Exclusively residential buildings
• New construction projects on lots previously undeveloped (redevelopment and/or rehabilitation
projects remain eligible) unless it results in a project beyond typical construction and is consistent
with Design Standards and is found to have a significant impact
• Property considered non-conforming to the City’s Code of Ordinances, unless the proposed
improvements are intended to correct all the non-conforming issues.
PROJECT APPROVAL GUIDELINES
Program oversight and authority for grant approval is delegated to the City of St. Joseph Economic Development
Authority. The Economic Development Authority will review and approve all grants based on the following guidelines:
1. A project for which an application has been received will only be reviewed if it is filled out completely.
Photographs illustrating subject building(s) and property and proposed site changes/improvements may
be required by the EDA.
2. Multiple property owners must submit separate applications for each property/project.
3. Any business owner under a lease who submits an application must obtain and provide written consent
of the property owner.
4. Preference will be given to projects which:
• Will positively contribute to the City revitalization/renewal efforts
• Will eliminate a blighting influence
• Will result in a visible improvement that would not be made otherwise
• Will result in a property that transitions to an allowable commercial use (e.g. converting a non-
conforming residential use on a commercial zoned property into appropriate commercial use.)
• Demonstrate a ratio of private investment to public investment greater than 2:1
5. Project is consistent with the Comprehensive Plan, transportation plans, and other applicable plans.
6. Projects must be completed within a timely manner from date of official project approval (i.e. one year
with a maximum extension of an additional six months). As indicated, dollars are limited and
reimbursement will be made after project improvements are completed, and reimbursement requested.
7. Grant Disbursement
Awarded loan funds will be dispersed to the applicant upon submittal of receipts or invoices for supplies purchased and
inspection which certifies the work completed is in accordance with the EDA approval and other city ordinances.
PROPERTY OWNER REQUIREMENTS
Upon the application submittal for a project, the Applicant will play an important role in a partnership that includes the
City of St. Joseph and the Economic Development Authority. The following may be required to review plans depending
on the scope of the project: City staff, the Planning Commission, the EDA and the City Council. Those required to
review the plans and/or grant application will review design drawings, proposed work specifications, and the
architectural materials. Below are items that will be required of as part of completing your project.
1. Attendance at an informational meeting which will outline the entire project procedure.
2. Property owners’ attendance at various meetings, reviews etc. with representatives of either the City or
EDA to expedite various stages of the project.
3. All work to be done on the project shall be the sole responsibility of the property owner. The City of St.
Joseph/EDA administers the grant program herein and the City/EDA is not responsible for any work
undertaken as a result of the grant. The owner hereby holds the City and EDA harmless for any and all
liability commencing out of any work constructed and paid for the design grant herein.
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APPLICATION FOR
ST. JOSEPH HIGHWAY CORRIDORS 75 COMMERCIAL DISTRICT
FAÇADE GRANT PROGRAM
** Please remember to include photos of your building(s) and/or property as they relate to the types of
improvements indicated on this application. **
APPLICANT AND PROPERTY OWNER INFORMATION:
Applicant
Phone: Email:
Mailing Address:
Property Owner:
Phone: Email:
Mailing Address:
PROJECT INFORMATION:
Business Name:
Business Address:
1. On the attached page, please identify the specific improvements you are proposing for the building(s)
and/or property.
2. Based on the proposed improvements identified, please provide your best estimate of the entire project
cost: $
3. If the project cost comes in at, or exceeds your estimate, do you have private funds readily available to
complete the proposed the project? Yes No
If No, by what means will you secure funding and still complete the project within a timely manner
4. If your project is approved, does completing the project timely pose any concerns for you?
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Yes No
If yes, Please list those concerns:
PROJECT DESCRIPTION
Please provide an accurate and thorough summary of your project. The photographs taken of your building(s)
and property will assist in a visual manner to further support your written project description.
Based on the description of your project and your motivation for wanting to make these improvements, please place a
check mark next to those project preference item you feel your project meets.
Will positively contribute to the City’s revitalization/renewal efforts.
Will eliminate a blighting influence.
Will result in a visible improvement that would not be made otherwise.
Result in a ratio of private investment to public investment greater than 2:1.
Building Permits & Inspections
Applicant is responsible for obtaining appropriate building permits, per the Building Code and/or City of St. Joseph
Zoning Ordinance. In the case of improvements that do not require a city-issued building permit, the applicant must
submit the name and state license number of the contractor completing the work and agree to an inspection of the work
by a city building official.
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Grant Disbursement
Awarded loan funds will be dispersed to the applicant upon submittal of receipts or invoices for supplies purchased and
inspection which certifies the work completed is in accordance with the EDA approval and other city ordinances.
Certification
City staff or an authorized representative shall have the right to inspect the property to be improved at any time from the
date of application upon giving due notice to the owner and to occupants.
I/We understand that any intentional misstatements will be grounds for disqualification.
I/We authorize program representatives the right to access the property to be improved for the purpose of the grant
program and to take photographs of the structure before and after rehabilitation.
I/We further understand that I/we will make the final selection of the improvements to be made with the loan funds and
that the contract for improvements will be solely between myself and the contractor(s). The administering agency will
not be liable for the inadequate performance of the contractor(s).
The information on this application is accurate. I have read, understand, and agree to comply with the program criteria
for the St. Joseph Highway Commercial Facade Grant Program.
Signature of Applicant Date
Signature of Owner(s) (if different than Applicant) Date
Contact:
Nate Keller, Community Development Director
(320)557-3524
nkeller@cityofstjoseph.com
Submit completed application by email to nkeller@cityofstjoseph.com or to: St. Joseph Government Center
75 Callaway St. E
St. Joseph, MN 56374
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EDA Agenda Item
________________________
MEETING DATE: January 20, 2026
AGENDA ITEM: December Finance Reports
SUBMITTED BY: Finance
BOARD/COMMISSION/COMMITTEE/COUNCIL RECOMMENDATION: None
PREVIOUS EDA ACTION: EDA approved four façade grants; waiting to be reimbursed.
BACKGROUND INFORMATION:
Enclosed you will find the reconciled financial reports through December 31, 2025.
The fund balance on December 31, 2025, is $123,527. Of this amount, $59,884 is set aside for EDA
program expenditures. This leaves an undesignated surplus of $63,643. The EDA is mainly funded with
property taxes. The second tax settlement was received in December. The designated balance is for
capital programming that may not be expended in 2025. There will be audit entries that adjust the
12/31/25 balance over the next couple months. Our audit fieldwork is scheduled for the week of March
23rd. The audited financial statements are anticipated to be approved in May.
The CVB is mainly funded with lodging tax. Lodging taxes are expected to be lower in 2025 with the
roundabout construction projects. The CVB budget request includes spending down some of their
reserve balance knowing the taxes are lower due to the projects in these two years. The Rodeway Inn is
behind two months on their lodging taxes. Staff have escalated the payment reminders to the owner.
The adopted 2026 CVB budget is included in the first column of the CVB report summary included in this
packet.
The other funds reported include the TIF funds, Lodging Tax, DEED CDAP Housing Grant reimbursement
and the Revolving Loan fund. There are two revolving loans outstanding to Krewe and Flour to Flower
Bakery; and the St. Joseph Food Co-Op.
The second TIF and Tax Abatement remittances were made in late December. There is one tax
abatement payment to remit for the ISD 742 portion of the Woodcrest abatement. The city will remit
the payment once it is received from the school district.
BUDGET/FISCAL IMPACT: For Information Only
ATTACHMENTS: Financial Summaries – EDA Funds
REQUESTED BOARD ACTION: Consider acceptance of the December 2025 financial reports.
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St. Joseph Economic Development Authority
Summary Treasurer's Report - Fund 250
December 31, 2025
Fund 250, EDA Balance as of December 31, 2024 (Audited) 119,425.57
Year to Date Revenue: 2024 Actual Budget 2025 YTD Actual 2025
Interest Earnings 2,093 1,000 4,086.72
TIF/MIF Deposit/Fee - Hansen & Co. 10,369 - -
State of Minnesota Grant - - -
Abatement Reimbursement (School District) 9,382 9,385 4,691.00
Ad Valorem Taxes 221,020 231,710 177,050.99
Total Revenue 242,865 242,095 185,828.71
Year to Date Expenditures by Object:
Board Stipends 1,240 1,440 1,080.00
Staff Salaries/Training 54,513 60,120 54,905.12
Software Support/Office Supplies/Postage 1,988 3,550 2,612.26
Professional Services 7,964 3,300 3,012.50
Telephone 1,527 1,380 1,794.45
Greater St. Cloud Development Investment 5,000 5,025 166.00
Dues and Memberships (Other) - 295 592.89
Advertising - 100 -
Abatement Payments (Country Manor/Trobec's) 64,532 141,385 104,501.12
Marketing - 500 -
Computers - - 1,063.36
EDA Programs 12,500 15,000 2,000.00
Transfer to Other Funds 19,000 10,000 10,000.00
Total Expenses 168,263 242,095 (181,727.70)
Fund Summaries as of December 31, 2025 (unaudited):
EDA Net Position - Fund 250 - (unaudited), cash balance 123,526.58
Designated for Capital Programs 59,883.60
Undesignated 63,642.98
TIF 4-1 Fortitude Senior Apts Balance - Fund 253 45,185.19
TIF 2-1 Millstream Shops and Lofts Balance - Fund 257 51,256.77
TIF 2-3 Bayou Blues & Alley Flats Balance - Fund 259 (148.48)
Lodging Tax Balance - Fund 220 40,142.96
DEED CDAP Housing Grant Balance - Fund 225 60,914.21
Revolving Loan Balance - Fund 251 609,259.29
Designated for Revolving Loan Program 132,205.38
Designated for Economic Development 477,053.91
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CITYOFSTJOSEPH
BALANCESHEET
DECEMBER31,2 025
FUND220 - CVB
ASSETS
220-10199CASH40, 142.96
TOTAL ASSETS40, 142.96
LIABILITIES ANDEQUITY
FUNDEQUITY
220-25310UNASSIGNED FUND BALANCE27, 102.34
REVENUE OVER EXPENDITURES - YTD13,040.62
TOTAL FUND EQUITY40, 142.96
TOTAL LIABILITIES AND EQUITY40, 142.96
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CITYOFSTJOSEPH
REVENUES WITHCOMPARISON TOBUDGET
FORTHE12MONTHS ENDING DECEMBER 31, 2025
CVB
PRIOR YTDAMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
ECONOMIC DEVELOPMENT AUTHORI
220-46500-31600LODGING TAX10,700.0913,007.458,500.008,500.00( 4 ,5 0 7. 4 5) 153.0
220-46500-34409MARKETING774. 751,331.251,000.001,000.00( 3 3 1. 25 ) 13 3. 1
220-46500-34410JOETOWN EVENT SALES2,840.00. 002,700.002,700.002,700.00. 0
220-46500-36210INTEREST EARNINGS799. 791,168.47500.00500.00( 6 6 8. 4 7) 2 33 .7
TOTALECONOMIC DEVELOPMENT A 15,114.6315,507.1712,700.0012,700.00( 2 ,8 0 7 .1 7 ) 122.1
OTHERFINANCING SOURCES
220-49302-39201TRANSFERS FROM OTHER FUNDS9,000.0010,000.0010,000.0010,000.00. 00100.0
TOTAL OTHER FINANCING SOURCES9, 000.0010,000.0010,000.0010,000.00. 00100.0
TOTAL FUND REVENUE24, 114.6325,507.1722,700.0022,700.00( 2 ,8 0 7. 1 7) 112.4
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CITYOFSTJOSEPH
EXPENDITURES WITHCOMPARISON TOBUDGET
FORTHE12MONTHS ENDING DECEMBER 31, 2025
CVB
PRIOR YTDAMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
ECONOMIC DEVELOPMENT AUTHORI
220-46500-208VISITORS BUREAU PRIZES. 00. 00200.00200.00200.00. 0
220-46500-209VISITORS BUREAU MERCHANDISE888. 001,334.70975.00975.00( 3 5 9 .7 0 ) 136.9
220-46500-300PROFESSIONAL SERVICES9, 000.009,000.009,000.009,000.00. 00100.0
220-46500-307JOETOWN EVENTS7, 587.11. 0010,000.0010,000.0010,000.00. 0
220-46500-308COMMUNITY PROGRAMS. 00. 001,200.001,200.001,200.00. 0
220-46500-310IT SERVICES297. 00296.00400.00400.00104.0074.0
220-46500-328MARKETING. 00. 001,000.001,000.001,000.00. 0
220-46500-340ADVERTISING3, 233.501,835.851,755.001,755.00( 8 0 .8 5 ) 1 04 .6
TOTALECONOMIC DEVELOPMENT A 21,005.6112,466.5524,530.0024,530.0012,063.4550.8
TOTAL FUND EXPENDITURES21, 005.6112,466.5524,530.0024,530.0012,063.4550.8
NETREVENUE OVER EXPENDITURES3, 109.0213,040.62( 1 ,8 3 0 . 00)( 1,830.00)( 14,870.62) 712.6
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[PAGE 17]
CITYOFSTJOSEPH
BALANCESHEET
DECEMBER31,2 025
FUND225 - DEEDCDAPHOUSINGGRANTS
ASSETS
225-10199CASH60, 914.21
TOTAL ASSETS60, 914.21
LIABILITIES ANDEQUITY
FUNDEQUITY
225-25310UNASSIGNED FUND BALANCE58, 643.24
REVENUE OVER EXPENDITURES - YTD2,270.97
TOTAL FUND EQUITY60, 914.21
TOTAL LIABILITIES AND EQUITY60, 914.21
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CITYOFSTJOSEPH
REVENUES WITHCOMPARISON TOBUDGET
FORTHE12MONTHS ENDING DECEMBER 31, 2025
DEEDCDAPHOUSING GRANTS
PRIOR YTDAMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
ECONOMIC DEVELOPMENT AUTHORI
225-46500-36210INTEREST EARNINGS1, 878.102,270.971,500.001,500.00( 7 7 0. 9 7 ) 15 1.4
TOTALECONOMIC DEVELOPMENT A 1,878.102,270.971,500.001,500.00( 7 70 .9 7 ) 15 1. 4
TOTAL FUND REVENUE1, 878.102,270.971,500.001,500.00( 7 7 0. 97 ) 1 51 .4
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[PAGE 19]
CITYOFSTJOSEPH
EXPENDITURES WITHCOMPARISON TOBUDGET
FORTHE12MONTHS ENDING DECEMBER 31, 2025
DEEDCDAPHOUSING GRANTS
PRIOR YTDAMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
ECONOMIC DEVELOPMENT AUTHORI
225-46500-300PROFESSIONAL SERVICES. 00. 007,000.007,000.007,000.00. 0
TOTALECONOMIC DEVELOPMENT A 00. 007,000.007,000.007,000.00. 0
TOTALFUNDEXPENDITURES. 00. 007,000.007,000.007,000.00. 0
NETREVENUE OVER EXPENDITURES1, 878.102,270.97( 5 ,5 0 0 .0 0)( 5,500.00)( 7,770.97) 41.3
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CITYOFSTJOSEPH
BALANCESHEET
DECEMBER31,2 025
FUND250 - EDA
ASSETS
250-10199CASH122, 226.58
250-15500DUE FROM OTHER FUND1,300.00
TOTAL ASSETS123, 526.58
LIABILITIES ANDEQUITY
FUNDEQUITY
250-25310UNASSIGNED FUND BALANCE119, 425.57
REVENUE OVER EXPENDITURES - YTD4,101.01
TOTAL FUND EQUITY123, 526.58
TOTAL LIABILITIES AND EQUITY123, 526.58
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CITYOFSTJOSEPH
REVENUES WITHCOMPARISON TOBUDGET
FORTHE12MONTHS ENDING DECEMBER 31, 2025
EDA
PRIOR YTDAMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
ECONOMIC DEVELOPMENT AUTHORI
250-46500-31010CURRENT ADVALOREM TAXES187, 799.59177,050.99231,710.00231,710.0054,659.0176.4
250-46500-34150TIF/ ABATEMENT DEPOSIT300. 00. 00. 00. 00. 00. 0
250-46500-34155TIF/ ABATEMENT FEE10,368.75. 00. 00. 00. 00. 0
250-46500-36210INTEREST EARNINGS1, 808.634,086.721,000.001,000.00( 3 ,0 8 6. 7 2 ) 408.7
250-46500-36301TAX ABATEMENT REIMBURSEMENT4, 691.004,691.009,385.009,385.004,694.0050.0
TOTALECONOMIC DEVELOPMENT A 204,967.97185,828.71242,095.00242,095.0056,266.2976.8
TOTAL FUND REVENUE204, 967.97185,828.71242,095.00242,095.0056,266.2976.8
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CITYOFSTJOSEPH
EXPENDITURES WITHCOMPARISON TOBUDGET
FORTHE12MONTHS ENDING DECEMBER 31, 2025
EDA
PRIOR YTDAMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
ECONOMIC DEVELOPMENT AUTHORI
250-46500-101EDA SALARIES39, 625.1140,894.9943,170.0043,170.002,275.0194.7
250-46500-103EDA LEGISLATIVE BODIES720. 001,080.001,440.001,440.00360.0075.0
250-46500-121PERA CONTRIBUTIONS2, 973.493,067.103,240.003,240.00172.9094.7
250-46500-122FICA CONTRIBUTIONS2, 948.553,104.122,475.002,475.00( 6 2 9. 1 2 ) 12 5.4
250-46500-123DEFERRED COMP-EMPLOYER227. 50262.50455.00455.00192.5057.7
250-46500-125MEDICARE CONTRIBUTIONS. 00. 00580.00580.00580.00. 0
250-46500-130H SA- EMPLOYER CONTRIBUTION822. 50840.00840.00840.00. 00100.0
250-46500-131HEALTH INSURANCE5, 575.845,877.007,350.007,350.001,473.0080.0
250-46500-132DENTAL INSURANCE378. 24385.92505.00505.00119.0876.4
250-46500-133LIFE INSURANCE27. 9628.0530.0030.001.9593.5
250-46500-134DISABILTY INSURANCE325. 44325.44425.00425.0099.5676.6
250-46500-151WORKERS COMP. INSUR. PREM. 319.00120.00380.00380.00260.0031.6
250-46500-171CLOTHING ALLOWANCE. 00. 0020.0020.0020.00. 0
250-46500-200OFFICE SUPPLIES. 00. 00100.00100.00100.00. 0
250-46500-300PROFESSIONAL SERVICES7, 868.752,250.001,800.001,800.00( 45 0 . 00 ) 125.0
250-46500-303ENGINEERING FEE. 00. 001,000.001,000.001,000.00. 0
250-46500-304LEGAL FEES95. 00762.50500.00500.00( 2 62 .5 0 ) 15 2.5
250-46500-310SOFTWARE SUPPORT1, 987.582,612.263,450.003,450.00837.7475.7
250-46500-321TELEPHONE1, 526.951,794.451,380.001,380.00( 4 1 4 .4 5) 1 30 .0
250-46500-328MARKETING. 00. 00500.00500.00500.00. 0
250-46500-331TRAVEL & CONFERENCE EXPENSE67. 82592.89650.00650.0057.1191.2
250-46500-340ADVERTISING167. 74. 00100.00100.00100.00. 0
250-46500-433DUES & MEMBERSHIPS5, 000.00166.005,320.005,320.005,154.003.1
250-46500-582COMPUTER SOFTWARE. 001,063.36. 00. 00( 1,063.36). 0
250-46500-588EDA PROGRAMS12, 500.002,000.0015,000.0015,000.0013,000.0013.3
250-46500-622TIF/ABATEMENT PAYMENTS59, 841.46104,501.12141,385.00141,385.0036,883.8873.9
TOTALECONOMIC DEVELOPMENT A 142,998.93171,727.70232,095.00232,095.0060,367.3074.0
FOR ADMINISTRATION USE ONLY100 % OFTHE FISCAL YEAR HAS ELAPSED01/ 15/2026 01:46PM PAGE: 17
22

[PAGE 23]
CITYOFSTJOSEPH
EXPENDITURES WITHCOMPARISON TOBUDGET
FORTHE12MONTHS ENDING DECEMBER 31, 2025
EDA
PRIOR YTDAMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
OTHERFINANCING USES
250-49300-720TRANSFERS TOOTHER FUNDS9, 000.0010,000.0010,000.0010,000.00. 00100.0
TOTAL OTHER FINANCING USES9,000.0010,000.0010,000.0010,000.00. 00100.0
TOTAL FUND EXPENDITURES151, 998.93181,727.70242,095.00242,095.0060,367.3075.1
NETREVENUE OVER EXPENDITURES52, 969.044,101.01. 00. 00( 4,101.01). 0
FOR ADMINISTRATION USE ONLY100 % OFTHE FISCAL YEAR HAS ELAPSED01/ 15/2026 01:46PM PAGE: 18
23

[PAGE 24]
CITYOFSTJOSEPH
BALANCESHEET
DECEMBER31,2 025
FUND251 - REVOLVING LOANFUND
ASSETS
251-10199CASH609, 259.29
TOTAL ASSETS609, 259.29
LIABILITIES ANDEQUITY
FUNDEQUITY
251-24415DESIGN. FDBAL - OPERATIONS477, 053.91
251-25310UNASSIGNED FUND BALANCE97, 676.29
REVENUE OVER EXPENDITURES - YTD34,529.09
TOTAL FUND EQUITY609, 259.29
TOTAL LIABILITIES AND EQUITY609, 259.29
24

[PAGE 25]
CITYOFSTJOSEPH
REVENUES WITHCOMPARISON TOBUDGET
FORTHE12MONTHS ENDING DECEMBER 31, 2025
REVOLVING LOANFUND
PRIOR YTDAMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
EDA
251-46500-36210INTEREST EARNINGS17, 394.2922,444.394,500.004,500.00( 1 7 ,9 4 4 .3 9) 498.8
251-46500-36320LOAN PRINCIPAL12, 835.9113,178.9712,915.0012,915.00( 2 6 3 .9 7 ) 10 2.0
251-46500-36321LOAN INTEREST1, 023.39655.73630.00630.00( 2 5 .7 3) 10 4. 1
TOTAL EDA31,253.5936,279.0918,045.0018,045.00( 1 8 ,2 34 .0 9) 201.1
TOTAL FUND REVENUE31, 253.5936,279.0918,045.0018,045.00( 1 8 ,2 3 4. 0 9) 201.1
FOR ADMINISTRATION USE ONLY100 % OFTHE FISCAL YEAR HAS ELAPSED01/ 15/2026 01:46PM PAGE: 19
25

[PAGE 26]
CITYOFSTJOSEPH
EXPENDITURES WITHCOMPARISON TOBUDGET
FORTHE12MONTHS ENDING DECEMBER 31, 2025
REVOLVING LOANFUND
PRIOR YTDAMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
EDA
251-46500-300PROFESSIONAL SERVICES1, 750.001,750.00. 00. 00( 1,750.00). 0
251-46500-304LEGAL FEES58. 56. 00. 00. 00. 00. 0
TOTAL EDA1,808.561,750.00. 00. 00( 1,750.00). 0
TOTAL FUND EXPENDITURES1, 808.561,750.00. 00. 00( 1,750.00). 0
NET REVENUE OVER EXPENDITURES29, 445.0334,529.0918,045.0018,045.00( 1 6 ,4 8 4.09) 191.4
FOR ADMINISTRATION USE ONLY100 % OFTHE FISCAL YEAR HAS ELAPSED01/ 15/2026 01:46PM PAGE: 20
26

[PAGE 27]
CITYOFSTJOSEPH
BALANCESHEET
DECEMBER31,2 025
FUND253 - TIF4-1FORTITUDE SENIORAPTS
ASSETS
253-10199CASH45, 185.19
TOTAL ASSETS45, 185.19
LIABILITIES ANDEQUITY
FUNDEQUITY
253-25310UNASSIGNED FUND BALANCE36, 964.04
REVENUE OVER EXPENDITURES - YTD8,221.15
TOTAL FUND EQUITY45, 185.19
TOTAL LIABILITIES AND EQUITY45, 185.19
27

[PAGE 28]
CITYOFSTJOSEPH
REVENUES WITHCOMPARISON TOBUDGET
FORTHE12MONTHS ENDING DECEMBER 31, 2025
TIF4-1FORTITUDE SENIOR APTS
PRIOR YTDAMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
EDA
253-46500-31050TAX INCREMENT70, 548.7580,773.9870,000.0070,000.00( 1 0 ,7 7 3 .9 8) 115.4
253-46500-36210INTEREST EARNINGS2, 158.231,563.241,000.001,000.00( 5 6 3. 2 4 ) 15 6.3
TOTAL EDA72,706.9882,337.2271,000.0071,000.00( 1 1 ,3 37 .2 2) 116.0
TOTAL FUND REVENUE72, 706.9882,337.2271,000.0071,000.00( 1 1 ,3 3 7. 2 2) 116.0
FOR ADMINISTRATION USE ONLY100 % OFTHE FISCAL YEAR HAS ELAPSED01/ 15/2026 01:46PM PAGE: 21
28

[PAGE 29]
CITYOFSTJOSEPH
EXPENDITURES WITHCOMPARISON TOBUDGET
FORTHE12MONTHS ENDING DECEMBER 31, 2025
TIF4-1FORTITUDE SENIOR APTS
PRIOR YTDAMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
EDA
253-46500-300PROFESSIONAL SERVICES1, 200.001,250.001,200.001,200.00( 5 0 . 00 ) 10 4 .2
253-46500-306COUNTY TIF ADMIN FEE49.39115.14100.00100.00( 15 .1 4 ) 11 5 .1
253-46500-340ADVERTISING93. 10105.00100.00100.00( 5. 00 ) 1 05 .0
253-46500-622TIF/ABATEMENT PAYMENTS63, 493.8772,645.9363,000.0063,000.00( 9 ,6 4 5 .9 3) 115.3
TOTAL EDA64,836.3674,116.0764,400.0064,400.00( 9 ,7 16 .0 7) 11 5. 1
TOTAL FUND EXPENDITURES64, 836.3674,116.0764,400.0064,400.00( 9 ,7 1 6 .0 7 ) 115.1
NET REVENUE OVER EXPENDITURES7, 870.628,221.156,600.006,600.00( 1 , 62 1 . 1 5) 124.6
FOR ADMINISTRATION USE ONLY100 % OFTHE FISCAL YEAR HAS ELAPSED01/ 15/2026 01:46PM PAGE: 22
29

[PAGE 30]
CITYOFSTJOSEPH
BALANCESHEET
DECEMBER31,2 025
FUND257 - TIF2-1MILLSTREAM SHOPSLOFTS
ASSETS
257-10199CASH51, 256.77
TOTAL ASSETS51, 256.77
LIABILITIES ANDEQUITY
FUNDEQUITY
257-25310UNASSIGNED FUND BALANCE48, 655.56
REVENUE OVER EXPENDITURES - YTD2,601.21
TOTAL FUND EQUITY51, 256.77
TOTAL LIABILITIES AND EQUITY51, 256.77
30

[PAGE 31]
CITYOFSTJOSEPH
REVENUES WITHCOMPARISON TOBUDGET
FORTHE12MONTHS ENDING DECEMBER 31, 2025
TIF2-1MILLSTREAM SHOPSLOFTS
PRIOR YTDAMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
EDA
257-46500-31050TAX INCREMENT47, 192.5347,842.6551,000.0051,000.003,157.3593.8
257-46500-36210INTEREST EARNINGS1, 487.691,967.24500.00500.00( 1 , 46 7 .2 4 ) 393.5
TOTAL EDA48,680.2249,809.8951,500.0051,500.001,690.1196.7
TOTAL FUND REVENUE48, 680.2249,809.8951,500.0051,500.001,690.1196.7
FOR ADMINISTRATION USE ONLY100 % OFTHE FISCAL YEAR HAS ELAPSED01/ 15/2026 01:47PM PAGE: 23
31

[PAGE 32]
CITYOFSTJOSEPH
EXPENDITURES WITHCOMPARISON TOBUDGET
FORTHE12MONTHS ENDING DECEMBER 31, 2025
TIF2-1MILLSTREAM SHOPSLOFTS
PRIOR YTDAMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
EDA
257-46500-300PROFESSIONAL SERVICES1, 200.001,250.001,200.001,200.00( 5 0 . 00 ) 10 4 .2
257-46500-306COUNTY TIF ADMIN FEE72.7873.3275.0075.001.6897.8
257-46500-340ADVERTISING93. 10105.00100.00100.00( 5. 00 ) 1 05 .0
257-46500-622TIF/ABATEMENT PAYMENTS42, 473.2845,780.3645,900.0045,900.00119.6499.7
TOTAL EDA43,839.1647,208.6847,275.0047,275.0066.3299.9
TOTAL FUND EXPENDITURES43, 839.1647,208.6847,275.0047,275.0066.3299.9
NET REVENUE OVER EXPENDITURES4, 841.062,601.214,225.004,225.001,623.7961.6
FOR ADMINISTRATION USE ONLY100 % OFTHE FISCAL YEAR HAS ELAPSED01/ 15/2026 01:47PM PAGE: 24
32

[PAGE 33]
CITYOFSTJOSEPH
BALANCESHEET
DECEMBER31,2 025
FUND259 - TIF2-3BAYOUBLUESALLEYFLAT
ASSETS
259-10199CASH3, 651.52
TOTAL ASSETS3, 651.52
LIABILITIES ANDEQUITY
LIABILITIES
259-20500DUE TO OTHER FUND1,300.00
TOTAL LIABILITIES1, 300.00
FUNDEQUITY
259-25310UNASSIGNED FUNDBALANCE( 954.33)
REVENUE OVER EXPENDITURES - YTD3,305.85
TOTAL FUND EQUITY2, 351.52
TOTAL LIABILITIES AND EQUITY3, 651.52
33

[PAGE 34]
CITYOFSTJOSEPH
REVENUES WITHCOMPARISON TOBUDGET
FORTHE12MONTHS ENDING DECEMBER 31, 2025
TIF2-3BAYOUBLUESALLEYFLAT
PRIOR YTDAMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
EDA
259-46500-31050TAX INCREMENT39, 599.5546,056.6850,000.0050,000.003,943.3292.1
259-46500-36210INTEREST EARNINGS131. 5791.9630.0030.00( 6 1 .9 6) 30 6. 5
TOTAL EDA39,731.1246,148.6450,030.0050,030.003,881.3692.2
TOTAL FUND REVENUE39, 731.1246,148.6450,030.0050,030.003,881.3692.2
FOR ADMINISTRATION USE ONLY100 % OFTHE FISCAL YEAR HAS ELAPSED01/ 15/2026 01:47PM PAGE: 25
34

[PAGE 35]
CITYOFSTJOSEPH
EXPENDITURES WITHCOMPARISON TOBUDGET
FORTHE12MONTHS ENDING DECEMBER 31, 2025
TIF2-3BAYOUBLUESALLEYFLAT
PRIOR YTDAMOUNTYTD ACTUALORIGINAL BUDGETBUDGETUNEXPENDEDPCNT
EDA
259-46500-300PROFESSIONAL SERVICES1, 200.001,250.001,200.001,200.00( 5 0 . 00 ) 10 4 .2
259-46500-306COUNTY TIF ADMIN FEE98.5265.65160.00160.0094.3541.0
259-46500-340ADVERTISING93. 10105.00100.00100.00( 5. 00 ) 1 05 .0
259-46500-622TIF/ABATEMENT PAYMENTS35, 639.5941,422.1445,000.0045,000.003,577.8692.1
TOTAL EDA37,031.2142,842.7946,460.0046,460.003,617.2192.2
TOTAL FUND EXPENDITURES37, 031.2142,842.7946,460.0046,460.003,617.2192.2
NET REVENUE OVER EXPENDITURES2, 699.913,305.853,570.003,570.00264.1592.6
FOR ADMINISTRATION USE ONLY100 % OFTHE FISCAL YEAR HAS ELAPSED01/ 15/2026 01:47PM PAGE: 26
35

[PAGE 36]
2025 Capital Expenditures
General Fund Capital Improvement Plan - EDA
Final adopted December 2, 2024
12/31/2024
Available through 12/31 through 12/31
Project Project Reserve Budget Grants/Aids Spent 2025
Department Account Code Number Equipment Balance 2025 2025 2025 Balance
EDA 250-46500-582 EDA-1401 Computer Software 4,306.74 - 1 ,063.36 3,243.38
EDA 250-46500-588 EDA-1402 Business Development 43,640.22 1 5,000.00 2 ,000.00 56,640.22
RLF 251-46500-588 EDA-1402 Business Development 477,053.91 - 477,053.91
520,694.13 1 5,000.00 - 2 ,000.00 533,694.13
TOTAL EDA CIP 525,000.87 15,000.00 - 3,063.36 536,937.51
Transferred to CVB $10,000
BFA Grants Awarded, not paid as of 11/30/25: Project Grant Match $
College & Minnesota, Quonset Building106 2nd Ave NW front façade $2,000
Floral Arts 307 1st Ave NE Windows/Door $2,000
Pierce Insurance 26 2nd Ave NW front façade $2,000
36