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Home My WebLink About2023-11-09 Agenda Packet - So.6 SSMID - typo fixedSOUTH DISTRICT SELF-SUPPORTED MUNICIPAL IMPROVEMENT DISTRICT Open Public Meeting to Review Fiscal Year 2024 Preliminary Budget of South of 6 Iowa City Business District (So.6) aka South District Self-Supported Municipal Improvement District (SSMID) November 9, 2023 11:00am Helling Conference Room - City Hall 410 E. Washington Street, Iowa City AGENDA 1. Call to Order 2. Public Comment of agenda items 3. New Business a. Review Annual Report: So.6 Executive Director, Angie Jordan, b. Review preliminary draft of the FY25 budget: So.6 Treasurer, Liz Walters c. Recommendation to Approve Preliminary Budget 4. Adjournment If you need disability-related accommodations in order to participate in this program/ event, please contact Rachel Kilburg, Economic Development Coordinator at 319-356-5248 or rkilburg@iowa-city.org. We ask that you contact us early to allow sufficient time to meet your access needs. 2022-2023 The South of 6 Iowa City Business District (So.6) recently completed its first fiscal year of operating the South District Self-Supported Municipal Improvement District (SSMID) on the south side of Iowa City. The following report will review our work for FY2022 to enhance economic development, wayfinding, and placemaking in the South District that supports a diverse, welcoming community. This report was prepared by Angie Jordan, So.6 Executive Director angie@southof6.org * (319) 383-6112 Annual Report 2022-2023 Table Of Contents About So.6 Board of Directors Vision, Mission & Values Goals Highlights Advocacy & Partnerships What’s Next? Gratitude Johnson County Food Policy Council’s August Happy Hour took place at the South District Market patio with the owners of Royceann Soule Food, Cachua Cakes, Early Bird Cafe and Artesanias Mar and More as panel guests. Founded in the spring of 2022, So.6 is a 501(c)6 nonprofit created by the efforts of the South District businesses, property owners and the neighborhood coming together to image a thriving business district that enhances the quality of life for all who live, work and play on the south side of Iowa City. So.6 is a Self-Supported Municipal Improvement District (SSMID), which is a tool for property owners and businesses in a geographic area to fund improvements and services to spur economic development & growth, enhance livability & infrastructure, provide advocacy marketing and create events. This is made possible by the SSMID commercial and multi- residential properties paying into a self-imposed levy which creates the private investment to leverage and use to make improvements within the geographic location--Keokuk and Broadway Street, south of highway 6 to Cross Park Ave. in the South District of Iowa City. (48) Forty-Eight Entities Food & Drink Other Food Sources Market Health & Wellness Home & Auto Retail & Consumer Goods Financial & Insurance Nonprofits Churches US Post Office About So.6 Board of Directors Tasha Lard, President JD Beauty Supply James Mims, Vice President Neighborhood Centers of Johnson County Elizabeth Walters, Treasurer Midwestone Bank Erin Sullivan, Secretary Shelter House Sara Sundblad MGNS, LLC Nick Bergus South District Neighborhood Association Tracy Jon Sargeant, Multicultural Development Center of Iowa Elias Ortiz & Bronis Perteit Domestic Violence Intervention Program Caleb Wilson Southgate Properties Tatiana Washington South District Neighborhood Association Kyle Galloway Pepperwood Plaza Association Alisa Ketchum Crowded Closet MCC Thrift Shop Michal Eynon-Lynch Resilient Sustainable Future for Iowa City Exificio Members (Non-voting) Nancy Bird Iowa City Area Business Partnership + Iowa City Area Business Development Group Monica Nieves Think Iowa City Area Visitors & Convention Buraeu Redmond Jones City of Iowa City Tyesha Perry Skogman Realty Ben Kayser Letter Carriers’ Association Angie Jordan So.6 Executive Director MissionVision The So.6 is a multicultural ecosystem that celebrates diversity and innovation to incubate a business renaissance that enhances the Iowa City experience as a whole. Enhance economic development, wayfinding and placemaking in the South District that supports a diverse, welcoming community. Community-Minded Action-Oriented Collaborative Creative Curious Resilient Values So. Goals Feet-in-the-Street: increase vehicular, bicycle and foot traffic from within the South District Neighborhood; and bring people from other parts of the surrounding area and community to shop, work, play and study in the business district. Transformation of Space: create and maintain art & entertainment, events & initiatives, banners & decorations, and signage; rewrite the narrative to reflect the positive and inspiring aspects of the south side of town. Business Unification: create a collaborative culture between South District businesses, retain current business, recruit new business, increase business awareness and connection to resources; provide advocacy at the city, county, state and national level to support economic development. Organization Structure Highlights Created Organizational Vision, Mission, Values and Goals Obtained 501(c)6 Nonprofit Status Amended Organizational Bylaws Hired an Executive Director Created Organizational Committees & Ad Hoc Committees Executive, Finance, Strategic Planning, Marketing, Arts & Entertainment, Branding, Master Development Planning Created a brand: name and logo Launched a website and social media accounts Identified and Collected Baseline Data Creation of Data Collection Dashboard Program Highlights Coordinated the So.6 Launch Party & City of Iowa City’s Small Business Community Award from the SBA Event (~120) people attended Coordinated pilot So.6 Shop-the-Block BINGO Piloted bi-monthly So.6 Down to Business Launch & Learn Series w/ partnering entities (2)Events (65) people attended (2) Minority-owned, local businesses provided catering Piloted bi-monthly So.6 Coffee Connections (2) Events (19) people attended (2) Minority-owned, So.6 business provided Catering Sponsorship of events: 3rd Annual South District Diversity Market-7 weeks (2) Small Business Orientations Served 55 small businesses (~600) = Market season attendance 2nd Annual Outdoor Movie Night 100 people (100) people attended 4th Annual South District Neighborhood Leisure Bike Rides (2) Bicycle Rides--May & June (13) people attended 6th Annual South District Team Up to Clean Up & Hawkeye Day of Caring (87) people Provided Internships (1) Cornell College (4) University of Iowa College of Business (12) University of Iowa Leadership Studies Letter of Support for Domestic Violence Intervention Program Letter of Support for Dream City Iowa Secured Free So.6 Wifi through ImOn Communications $84,050 Johnson County Economic Development Grant $10,000 City of Iowa City Branding Fund $3,500 City of Iowa City Public Arts Grant $600 CSo.6 offee Connection Sponsorship $634 Donations +$9 8 ,7 8 4 Fundraising Highlights Engagement Highlights (7) new businesses Artesanias Mar & More-Art & Retail Cachua Cakes-Food Early Bird Cafe-Food Kneading Escape Massage-Service Storelocal Iowa-Service Quickshine Express Car Wash-Service Royceann’s Soul Food Restaurant-Food (778) Outreach, Engagement, and Connection w So.6 entities and community organizations (2,403) Outreach Board of Directors Provided (12) Open Hours Signs w/logos to (4) businesses Advocacy & Partnerships Broadcasting of about So.6 & Networking Opportunities CBJ Women of Influence Award--Executive Director CBJ 40 Under Forty Award--Executive Director 2022 Press Citizen of the Year Award --Executive Director Emcee Better Together Bravo & Sizzle Awards Black Voices Project MLK Event Speaker Corridor Business Journal Leader Iowa City Area Business Partnership Annual Banquet attendee Iowa City Area Development Group Community Leadership Program Guest Panelist CEO/Executive Director Community Leadership Program Guest Panelist Lyons Club Guest Speaker Tend Her Wild Podcast Guest University of Iowa Public Health Podcast Guest Faith Academy Podcast University of Iowa Nonprofit Philantropy Certification Panel University of Iowa Nonprofit Management Class Panel Emcee Big Grove Lunch Noon Rotary Club Guest Speaker South District Neighborhood Association Neighborhood Meetings Storelocal Iowa--discounted storage unit Lunch & Learns Mendoza Consulting LLC, Hills Bank, Small Business Development Center, Midwestone Bank, City of Iowa City, Dream City Swag Bags and discounted product Adriana’s Salon, Crowed Closet, Arena Auto Body, Stuff Etc. Consignment, State Farm Chad Burtch, Defy Trampoline Park, Quickshine Express Car Wash, Midwestone Bank, South District Neighborhood Association, Iowa City Area Deveopment Group, Think Iowa City, Skogman Realty, Iowa City Area Business Partnership, City of Iowa City Coffee Connections Caring Hands and More and Early Bird Cafe Bike Rides Acapulco Mexican Bakery--popsicles South District Outdoor Movie Night Summer of the Arts Cornell College University of Iowa Iowa City Fab Lab What’s Next? So.6 is working with Slingshot Architecture to create a Master Development plan of Action. The Community Input Session is coming up and all are welcome to attend to help inform change! So.6's first ever welcome banner campaign in the South Disrict is underway working with Rapids Reproductions and collaborating with the City of Iowa City and MidAmercan Energy. South District Market Mural is currently being designed and will be installed on the outdoor patio space that once was the Econo Foods shopping cart return space back in the 80s So.6 is excited to grow the network and communication between SSMIDS Across Iowa to build a community of Executive Directors and staff with a focus to improve their business districts throughout the state. So.6 continues to work hard and team up with other So.6 entities and partners to offer a calendar of events that promote feet-in-the-street, transformation of space, business unification, education and connections. Gratitude During this first year, So.6 prioritized intentionally bringing property owners, businesses, nonprofits, residents and other key stakeholders together to begin the creation of a shared business renaissance in the South District. I want to express my gratitude to the So.6 Board of Directors for their guidance and bravery to unite as a team to create change and to build off and enhance the traditions and beauty that already exists on the south side of town. Many hands lighten the load as we create and share our future together. Sincerely, Angie Jordan Tasha Lard So.6 Executive Director President of Board of Directors So.6 Iowa City Business District FY23 Annual Report South District Self-Supported Municipal Improvement District For the period ended June 30, 2024 Prepared by Angie Jordan, So.6 Executive Director Prepared on October 9, 2023 2/7 Table of Contents Statement of Activity .............................................................................................................................................3 Balance Sheet-Statement of Financial Position....................................................................................................5 Profit and Loss......................................................................................................................................................6 South of 6 Iowa City Business District 3/7 Statement of Activity July 2022 - June 2023 Total REVENUE Donation (General Fund)481.00 Project/Events & Campaign Income 600.00 SSMID Annual Contribution Contributions 10.60 Interest Income 29.68 SSMID Levy Collected 110,188.21 Total SSMID Annual Contribution 110,228.49 Total Revenue 111,309.49 GROSS PROFIT 111,309.49 EXPENDITURES Advertising/Promotional 171.72 City Funds SSMID Branding 10,000.00 Contract & professional fees 600.00 Accounting fees 1,621.25 Total Contract & professional fees 2,221.25 Office Administration Bank fees & service charges 10.60 Insurance 965.17 Liability insurance 424.00 Total Insurance 1,389.17 Office supplies 1,164.24 Printing & photocopying 213.93 Small tools & equipment 290.41 Total Office Administration 3,068.35 Personnel Expenses Salaries & Wages 41,657.85 Taxes & Benefits Iowa Unemployment Tax 416.58 Matching SS & Medicare 3,186.83 Total Taxes & Benefits 3,603.41 Total Personnel Expenses 45,261.26 Project/Event Expenses Project 1-Coffee Connections Business Forum 176.01 Project 2-So.6 Launch Party 138.00 Project 3-Bike Rides 600.00 Project 4-Event Sponsorships 1,126.57 Total Project/Event Expenses 2,040.58 Rent Office Rent 3,150.00 Storage 150.38 South of 6 Iowa City Business District 4/7 Total Total Rent 3,300.38 Total Expenditures 66,063.54 NET OPERATING REVENUE 45,245.95 NET REVENUE $45,245.95 South of 6 Iowa City Business District 5/7 Balance Sheet-Statement of Financial Position As of June 30, 2023 Total ASSETS Current Assets Bank Accounts NON PROFIT CHECKING (4199) - 1 46,886.19 Total Bank Accounts 46,886.19 Total Current Assets 46,886.19 TOTAL ASSETS $46,886.19 LIABILITIES AND EQUITY Liabilities Current Liabilities Other Current Liabilities Payroll Liabilities Payroll Tax Liabilities Iowa Withholding 1,352.53 SUTA Tax Payable 157.70 Total Payroll Tax Liabilities 1,510.23 Total Payroll Liabilities 1,510.23 Total Other Current Liabilities 1,510.23 Total Current Liabilities 1,510.23 Total Liabilities 1,510.23 Equity Retained Earnings 130.01 Net Revenue 45,245.95 Total Equity 45,375.96 TOTAL LIABILITIES AND EQUITY $46,886.19 South of 6 Iowa City Business District 6/7 Profit and Loss July 2022 - June 2023 Jul 2022 - Jun 2023 Total REVENUE Donation (General Fund)481.00 481.00 Project/Events & Campaign Income 600.00 600.00 SSMID Annual Contribution 0.00 Contributions 10.60 10.60 Interest Income 29.68 29.68 SSMID Levy Collected 110,188.21 110,188.21 Total SSMID Annual Contribution 110,228.49 110,228.49 Total Revenue 111,309.49 111,309.49 GROSS PROFIT 111,309.49 111,309.49 EXPENDITURES Advertising/Promotional 171.72 171.72 City Funds SSMID Branding 10,000.00 10,000.00 Contract & professional fees 600.00 600.00 Accounting fees 1,621.25 1,621.25 Total Contract & professional fees 2,221.25 2,221.25 Office Administration 0.00 Bank fees & service charges 10.60 10.60 Insurance 965.17 965.17 Liability insurance 424.00 424.00 Total Insurance 1,389.17 1,389.17 Office supplies 1,164.24 1,164.24 Printing & photocopying 213.93 213.93 Small tools & equipment 290.41 290.41 Total Office Administration 3,068.35 3,068.35 Personnel Expenses 0.00 Salaries & Wages 41,657.85 41,657.85 Taxes & Benefits 0.00 Iowa Unemployment Tax 416.58 416.58 Matching SS & Medicare 3,186.83 3,186.83 Total Taxes & Benefits 3,603.41 3,603.41 Total Personnel Expenses 45,261.26 45,261.26 Project/Event Expenses 0.00 Project 1-Coffee Connections Business Forum 176.01 176.01 Project 2-So.6 Launch Party 138.00 138.00 Project 3-Bike Rides 600.00 600.00 Project 4-Event Sponsorships 1,126.57 1,126.57 Total Project/Event Expenses 2,040.58 2,040.58 Rent 0.00 Office Rent 3,150.00 3,150.00 Storage 150.38 150.38 South of 6 Iowa City Business District 7/7 Jul 2022 - Jun 2023 Total Total Rent 3,300.38 3,300.38 Total Expenditures 66,063.54 66,063.54 NET OPERATING REVENUE 45,245.95 45,245.95 NET REVENUE $45,245.95 $45,245.95 FY25 So.6 budget_City Operating Agreement .xlsx 10/18/2023 10:38:52 AM Jul 2024 - Jun 2025 Fiscal Year July 2024 - June 2025 ($100,000) Total Income ($100,000) SSMID levy amount ($3,200) Reserves ($96,781) Expenses ($19) Budget balance ($61,508) Personnel: ED Salary & Benefits ($55,008) salary ($1,500) retirement ($5,000) Insurance stipend ($5,000) Marketing ($5,000) marketing ($11,197) Office ($480) website $30/month; email $10/month ($15) annual domain name ($2,000) one-time redesign fee ($1,080) Quickbooks Online ($90/month) ($34) WHITE Device - Verizon landline $2.77/mo ($240) Verizon phone plan - $20/mo ($250) office supplies (printer ink, paper, envelopes, business cards, postage) ($5,400) office space: $450/month ($198) PO Box ($1,500) Storage ($125/month) ($3,170) Professional fees ($- ) lawyer ($1,000) accountant payroll ($1,000) accountant (tax preparation) ($170) accountant (on call assists) - 3 hrs in 15 min. increments ($1,000) review ($5,906) Insurance (liability) Premiums ($5,906) liability ($10,000) Projects