Board Meeting PACKET 4-26-23

—S ik, DOWNTOWN y ——*\ f PARTNERSHIP BOARD OF DIRECTORS MEETING Wednesday, April 26, 2023 7:30 a.m. City of Dover Conference Room 1. Welcome Agenda Minutes (March and April Special Meeting 2023) Police Report a FO f Executive Committee/Staff Updates i. Budget ii. Nomination committee Todd 6. Executive Session - Personnel 7. Downtown Dover Strategic Master Plan Priorities 8. Other Business 9. Board member updates (if time allows) 10. Public Comment 11. Adjourn Next DDP board meeting: Wednesday, May 24, 7:30 a.m. City of Dover Conference Room Agenda items as listed may not be considered in sequence. Pursuant to 29 DEL. C. 10004(e)(2), this agenda is subject to change to include the addition or deletion of items, including executive sessions, which arise at the time of the meeting. Downtown Dover Partnership Board Meeting Agenda — April 26, 2023

—of\, DOWNTOWN d Meeti KPDOVER mee PARTNERSHIP City Hall MINUTES ATTENDANCE: Jonathan Street, Pete Bradley, Carla Wilson, Councilwoman Tricia Arndt, Ken Anderson, Dave Ferrell, Todd Stonesifer, Doug Ferris, Codi Canasa, Dina Vendetti, Dave Hugg, Councilman Fred Neil, Mary Ellen Gray, Sergeant Jennifer Lynch, Officer Al Alviles, Linda Parkowski, Kim Adams, Senator Trey Paradee, John Van Gorp STAFF: Jordan Resh, Diane Laird, Tina Bradbury CALL TO ORDER Stonesifer called the meeting to order at 7:33 a.m. AGENDA Councilman Neil motioned to approve the agenda and Canasa seconded. The motion passed unanimously. MINUTES Councilman Neil motioned to approve the February minutes and Canasa seconded. The motion passed unanimously. EXECUTIVE COMMITTEE/STAFF UPDATES Budget Bradbury shared that the City is holding the Critical Improvements funding in escrow and will move the funding into the money market account at PNC once needed. She added that Interfaith will have a final walkthrough Thursday and are expected to move out soon. Once they are moved out, they will pay a pro-rated yearly rent for the time occupied. Bradbury shared that the final payment for Mosaic was processed under expenditures. Ferris asked if DDP funds are earning interest, and Bradbury responded yes. POLICE REPORT Officer Alviles shared that he received an invitation for a national community policing program and will work with a twenty-person cohort to develop community engagement programming. Sergeant Lynch shared that downtown had 98 complaints in February, a reduction from January’s 242 complaints. She added that stops and welfare visits represent 1/3 of incidents with an increase in welfare visits and public assistance for this month. She added that the number of 911 calls remained the same, and that no incidents of drug charges, shootings, or Downtown Dover Partnership Board Meeting 3-22-23 Page 1

~—f\, DOWNTOWN Board Meet PDOVER a PARTNERSHIP City Hall shoplifting were reported. She noted that three violent crimes occurred — two assaults and one fight. Sergeant Lynch shared that since the CenDel parking gates were installed, the security cameras captured no incidents of crime or loitering. She noted that gatherings occurred instead in the Wells Fargo parking lot or further down Bradford St. Street asked if officers could disband gatherings. Sergeant Lynch responded that on-foot officers can move people along, but the system is imperfect. She added that the officers may turn on sirens to create discomfort and encourage dispersion. Sergeant Lynch noted that due to staffing the Community Police Unit will be down three officers; Officer Alviles will be on patrol, one officer will fill a vacant school position, and one was deployed. She added that they anticipate an upcoming gap in community outreach. Canasa suggested a consistent police presence once the bars close at 1 a.m. so patrons plan to disperse and to prevent crowds. Street asked about seasonal trends in crime. Lynch responded that colder weather months typically have less crime. Bradbury asked if welfare checks varied seasonally. Lynch responded that welfare checks encompass many different interactions and are high variable. Bradbury asked for data from previous years to show long term trends and changes to crime downtown. Insurance Audit Bradbury shared that DDP’s insurer requested an audit of DDP’s properties and found deficiencies. She added that the properties are back to compliance and will pursue insurance renewal. Bylaws Laird shared that the annual review of bylaws will provide updates to be approved at the end of the fiscal year. Parkowski asked for a copy of the bylaws, and Laird offered to send a copy and noted that a copy is available on downtowndover.com. COMMITTEE UPDATES Design Laird presented the samples for the new banners and shared that they will be ordered within the month. The banners feature plein air paintings from the annual Paint Dover! outdoor painting event with multiple images and wayfinding banners to supplement the plein air designs. Downtown Dover Partnership Board Meeting 3-22-23 Page 2

SS) OVE! N Board Meeting VER 3/22/23 ) OVE HIP City Hall Laird noted that the master plan recommended improved wayfinding and more f an arts presence downtown. She noted the target installation is June and that banners will remain on display for approximately half of the year. Stonesifer shared that visible wins and marketing nonvisible wins will help publicize the implementation of the master plan. Canasa noted the importance of branding as a way of showing the investment of time and money downtown. Laird noted that they can sell the banners to generate funds to create new ones. Vendetti celebrated the master plan as progress towards improving downtown. Canasa noted that there is much more optimism surrounding the project and less pessimism. Bradbury shared that some negative comments were posted on social media. DOWNTOWN DOVER STRATEGIC MASTER PLAN Priorities Stonesifer shared that a small group is tasked with developing the priorities for implementation. He shared that a public presentation is scheduled for tonight, March 22 at 6 p.m. at the Kent Levy Court for Mosaic to present the master plan. He noted that over 100 people have RSVP’d and more are expected to attend in person or virtually. Sen. Paradee asked if presentation would be filmed to share with others. Laird responded that the presentation will not be professionally filmed but recorded. Sen. Parade suggested editing parts of the film to be easily accessible. Parkowski suggested filming the presentation on WebEx. Stonesifer shared that he will supply a videographer for the presentation. Street asked if members of the press would attend. Stonesifer responded yes. Ferris suggested publishing information about crime downtown to reshape its perception. Stonesifer shared that DDP is actively seeking a Property Development Director per the recommendation of the master plan. The application period closes March 31. He added that interim, the DDP is entertaining calls from developers, committee volunteers, and others interested to engage in implementation of the plan. Councilman Neil shared that the revitalization of the Baltimore Riverfront had staffed a “wrangler” to bring people to together for implementation needs. Downtown Dover Partnership Board Meeting 3-22-23 Page 3

—AN DOWNTOWN > FOOVER pene PARTNERSHIP City Hall Adams asked if the new director will be involved with current projects underway. Stonesifer responded that the answer is unclear, but anticipates the director will prioritize advancing new projects. Wilson asked for clarification on the new entity described in the RFP. Stonesifer responded that after the last board meeting, the DDP began working with attorney John Paradee who specializes in land use law. The attorney is looking at DDP’s land use as a public-private entity, and will decide to change the structure of the current entity or form a new entity to report to DDP if it would allow greater ease in acquiring land. He added that if there is an advantage in changing the structure, the new director will report to the development entity created instead of the DDP. Stonesifer added that the goal of the process is to increase efficiency on moving forward on big projects. Councilwoman Arndt asked clarifying questions for the director position. Stonesifer responded that advertising [and articles] occurred in state publications, Indeed, LinkedIn, and developer publications. He added that the RFP allows salary and terms to be determined with the candidate once they've applied. Canasa asked if the position is full time, and Stonesifer responded that the candidate will propose their preference. Adams asked about the budget for this position. Stonesifer responded that funding is available for the first year, and the development director will be staffed with determining new revenue streams to continue to job’s funding. Stonesifer noted that the DDP is working with the Kent MPO to solve traffic ideas for improved intersections. Laird added that five potential projects for linkages between major anchors that would make it easier to live and work downtown are underway. Laird added that the projects are also looking at new modes to navigate around State St. and Loockerman and a path to Forrest Ave. Kent MPO is interested in creating more direct routes, and received proposals to their RFP. The DDP is expected to match the cost of the project with between $15,000-$30,000. The DDP is hoping to partner with DelDOT to cover part of the funding need. The goal is to have the project completed early next year so it is prepared for a funding request in fiscal year 2025. Van Gorp asked for clarification on the walkway to Bayhealth. Laird responded that Governors Ave. would be considered for a bike path, transportation for commuter hours, and other options. Stonesifer added that the goal is to provide more opportunities for travelling downtown. Stonesifer shared that the master plan recommended a radical arrival plan for Dover. He added that the DDP requested a quote for the manufacture expense and installation of a Dover sign Downtown Dover Partnership Board Meeting 3-22-23 Page 4

k DOWNTOWN » SDOVER meee NS NIP PARTNERSHIP City Hall and an archway. Next, they will seek permits and start working on creating and installing “arrivals.” Stonesifer noted that painted crosswalks are being discussed with DelDot and will seek council approval. Once approved, the DDP will connect to local artists to design. Stonesifer shared that Scott Kidner of C. S. Kidner was signed at the lobbyist for DDP. The DDP is meeting with the Governor next week to present the master plan. Stonesifer added that Rep. Bush is on the Bond Committee and plans to advocate for the DDP as well as Rep. Lynn of Dover. Parkowski thanked Stonesifer for his commitment to implementing the master plan. Councilman Neil shared that the study completed on traffic coming in from west end of Dover is available from the city. Canasa noted that the crosswalk on Loockerman St. at Bradford St. is dangerous, has low visibility, and suggested addressing it. Laird responded that this intersection could be included in the linkages project with the Kent MPO. DDP CRITICAL IMPROVEMENTS FUND Recommendation of Applicants Stonesifer introduced Ken Anderson of the Critical Improvements Program review committee. Anderson is the former director of small business with the Delaware Economic Development office. Stonesifer asked for anyone with applications in, awarded, or intended to seek to recuse selves from board room. Ferrell shared that the applications for review span five properties and total $155,000. He noted that so far the program approved $877,000 for four projects, and with projects for review, the total cost is under budget with a reserve for another large project award. Ferrell noted that the eligible incentives are deducted from the total project cost to produce an adjusted estimated cost. Street suggested reporting the incentive recommendations to present to the legislature. Ferrell presented: 1. 140 S State St. — submitted by Carolyn Davidson for Grey Fox for $208,000 for windows, chimney, and HVAC repairs related to life safety concerns. With facade incentives, architectural funding, and previous DDD funds the recommended reward is $135,428. Parkowski asked if the applicant is eligible to apply for DDD funds again. Ferrell responded that a 10 year wait period is required for the same project to apply. Laird shared that she has a Downtown Dover Partnership Board Meeting 3-22-23 Page 5

VAN DOWNTOWN Board Meeting >. F209 VER 3/22/23 PARTNERSHIP City Hall meeting with the director of the Delaware State Housing Authority to allow for more funding opportunities to willing property owners. Sen. Paradee shared that projects involving HVAC may receive funding from the Delaware Sustainable Energy Utility who do low cost energy audits of buildings and can recommended improvements. He suggested the DDP partner with the organization. Ferrell noted that the USDA has an energy efficiency program and can provide funding to businesses that reduce energy by a certain percentage. Street motioned to approve 140 S State St. for $135,428 in critical improvements funding. Canasa seconded the motion and the board unanimously approved. Ferrell presented: 2. 123 & 125 W Loockerman St. submitted by Chris Raubaucher for funding for a $7,000 door replacement and $51,485 for door and facade treatment. After DDP facade incentives, DDD rebate, and Kent County DDD incentive, the total recommended award is $1,700 and $17,996. Bradbury noted that the funding will separate the two properties for two businesses. Councilman Neil motioned to approve 123 & 125 W Loockerman St. for $1,700 and $17,996 in critical improvements funding. Canasa seconded the motion and the board unanimously approved. Ferrell presented: 3. 132 & 134 W Loockerman submitted by Diana Welch for the Golden Fleece for $26,925. After facade and architectural incentives, the recommended award amount is $7,935. Ferrell noted that the funds would be pending approval of the design from the city. Canasa asked if project plan matches master plan recommendations. Laird responded that the master plan style guide would be considered during the design review. Van Gorp asked if the properties are adjacent. Stonesifer responded that the buildings are separate with the goal of making them look more cohesive to each other. Councilman Neil motioned to approve 132 & 134 W Loockerman St. for $7,935 in critical improvements funding. Canasa seconded the motion, and the board unanimously approved. Ferrell noted that $314,000 remains for additional projects. Laird shared that they are working with an owner and is hopeful the project will come. Downtown Dover Partnership Board Meeting 3-22-23 Page 6

k. DOWNTOWN » SDOVER mene NS Wy PARTNERSHIP City Hall Street suggested applicants meet with the planning and historical commission as early as possible. noted that applicants may want funding agreements first but are required to meet with planning in their award letter. BOARD MEMBER UPDATES Van Gorp shared that Bayhealth completed a master plan and will share updates soon. Hugg shared that three pending bond requests are scheduled to go to the general assembly. He added that the requests are downtown focused on water/wastewater/sewer improvements, water line on the west side, and feasibility and concept plan for the post office property. He added that the bills go to council Friday. Sen. Paradee shared that the general assembly is back next week and that he is the chair of joint finance again. He noted that revenue is down but that the governor claimed that more funding is available for affordable housing than ever before. He also noted that downtown development funding is available. Sen. Paradee added that the recreational cannabis bill is likely to pass, and suggested downtown plans a route to implement and deciding whether they would want facilities in downtown or on outskirts. Vendetti shared that tomorrow is the annual legislative luncheon and that the 55+ expo is coming up. She added that the chamber is pleased to be involved with anything to support the master plan. Bradley shared that Kent County Tourism is moving forward with their rebrand to Visit Central Delaware. Stonesifer noted that the master plan recommended streamlining projects in target area, and noted that Gray volunteered to work with a small group to provide recommendations for changes in the processes. He added that Street is working on the project too. PUBLIC COMMENT Ferris of 104 W Loockerman St., Coney Island Grill, asked for information on any development of his neighboring property, noting that he would like to create a Dover unity mural. Gray suggested contacting the property owner and noted that no active plans are being processed with the city. Canasa shared that despite the weather, the St. Patrick’s Day parade was a huge hit. She added that 2,000 people attended, and she anticipates events to grow as the weather warms and events program more. Downtown Dover Partnership Board Meeting 3-22-23 Page 7

J h. DOWNTOWN Board Meeting )» VER 3/22/23 Nl PARTNERSHIP City Hall ADJOURNMENT Councilman Neil motioned to adjourn the meeting. Canasa seconded the motion, and the board voted unanimously to adjourn. Adjourned at 9:03 a.m. Next meeting Wed., April 26, 7:30 a.m. City of Dover Conference Room Downtown Dover Partnership Board Meeting 3-22-23 Page 8

k DOWNTOWN ) SDOVER saan 208 Wy PARTNERSHIP Via Zoom Attendance: Codi Canasa, Councilman Fred Neil, Carla Wilson, Todd Stonesifer, Senator Trey Parade, Mary Ellen Gray, John Van Gorp, Jonathan Street, Mayor Robin Christiansen, Dr. Stacy Downing, David Hugg, Kim Adams. Staff: Diane Laird, Tina Bradbury, Jordan Resh Guests: Ken Anderson Stonesifer opened the meeting at 8:30 a.m. SPECIAL MEETING (Via Zoom) Critical Improvements Program Applications Board members with applications for consideration were asked to leave the meeting room. Ken Anderson presented two proposals from Adams for the Critical Improvements Program (CIP): 1. 221 W Loockerman St. — Adams proposed a restaurant and commercial kitchen project with the total cost of $369,500. The project is eligible for DDP facade and architectural grants, a DDD rebate, and Kent County DDD funds. With these grants, the project is eligible for $184,125 from the CIP. Laird shared visuals of the proposed project via screen sharing. Councilman Neil motioned to approve the project at 221 W Loockerman. Canasa seconded the motion, and the committee voted unanimously to approve the project. 2. 225 W Loockerman St. — Adams proposed a grab and go style eatery with the total cost of $150,040. The project is eligible for DDP facade and architectural grants, a DDD rebate, and Kent County DDD funds. With these grants, the project is eligible for $59,522 from the CIP. Councilman Neil motioned to approve the project at 225 W Loockerman. Canasa seconded the motion, and the committee voted unanimously to approve the project. Canasa asked about the turnaround time for the projects. Laird shared that Adams has started working on projects and projected fall 2023 for completion, with and a third project starting after. OTHER BUSINESS Councilman Neil shared that Donny Legans, owner of Rail Haus, presented an issue to City Council last night. Legans asked the Council to waive his fee for sidewalk repairs, but the Council cannot approve it because it affects ADA compliance. The repairs are expected to cost $7,000. Stonesifer responded that Legans received the maximum award amount for Rail Haus. Senator Paradee asked if the Rail Haus sidewalk is public access and if so, he can seek community transportation funds for the project. Senator Paradee said he would need to work with City of Dover and receive a description of the location to move forward. Hugg affirmed that the City of Dover would work Downtown Dover Partnership Special Board Meeting 4-12-23 ATTACHMENT 1

k DOWNTOWN Special Board Meeti yy SDOVER 4/233 = PARTNERSHIP Via Zoom with the Senator on the project. Senator Paradee noted that he is away next week, but if he receives the information today, he can start moving the project forward before his vacation. Senator Paradee asked for an updated on DDP’s EZ Pass property. Stonesifer responded that more information will be prepared for the regular board meeting in two weeks. He added that EZ Pass is run by DelDot and managed by Transcore. Transcore’s contract is up and DelDot has not yet announced vendor selected via most recent RFP process. Stonesifer noted that the lease for EZ Pass is with Transcore, and until a contract is made, the lease for the property is month to month. He added that once a decision is made by DelDot, the DDP will have more clarity on how to proceed. Stonesifer shared that the DDP is pursuing funding from the Bond Bill and is focused on hiring a candidate who is well connected to the Bond Bill process, preparing asks, and building relationships with legislators. He added that a presentation of a candidate for hire should be ready for the full board meeting in two weeks. Stonesifer noted that the DDP is applying for additional critical improvements funding in the bond bill and is working with the City to construct an appropriate ask. He noted that details should be finalized by the regular board meeting. Senator Paradee noted that the City of Dover ask in bond was delivered to the legislator, with 2-3 pages of information. Canasa shared excitement for the uniqueness of the approved large project (DDP Critical Improvements Program) and the necessity of the grab and go project, since people may want to visit downtown and have limited time to do so. Senator Paradee credited Adams for her courage in making investment in dormant properties and for bringing essential projects to downtown Dover. Dr. Downing announced that DSU’s 2" Annual Spring Festival is taking place at noon next Saturday in downtown Dover, following a 5K run for Sexual Assault Awareness month starting at 9 a.m. ADJOURNMENT The meeting adjourned at 8:53 a.m. Downtown Dover Partnership Special Board Meeting 4-12-23 ATTACHMENT 1

JOVER y’ k DOWNTOWN ZN Special Board Meeting 4/12/23 PARTNERSHIP Wis Foans Eligible Project Cost Total (minus Cash DDP DDP Historic DDD Project ineligible from Facade Architectural | Tax Rebate Kent County Owner | Property Cost Use costs) Debt | Owner Incentive | Incentive Incentive | Incentive | DDD 221W Loockerman | $ Rest/ $ $ S S Adams | St. 369,500.00 | Com.Kit. | 369,500.00 | $ - | 92,375.00 | 10,000.00 | $ 3,000.00 70,000.00 | 10,000.00 225W Loockerman | $ Eaterie/ $ $ $ $ Adams | St. 150,040.00 | grab/go | 150,040.00 37,510.00 | 10,000.00 | $ 3,000.00 30,008.00 | 10,000.00 Projected maximum City of Other | Grants, Eligible Project Cost Dover (i.e.; Incentives, minus Incentives/cash Owner | Property Incentives | Edge) | etc. (Total) debt 221 W Loockerman $ Adams | St. 93,000.00 184,125.00 225 W Loockerman S Adams | St. 53,008.00 59,522.00 TOTAL ALLOCATION FOR 2 PROJECTS 243,647.00 AMOUNT HELD FOR 3RD ADAMS PROJECT (FUTURE) 56,353 MAXIMUM PER APPLICANT AWARD 300,000.00 You'll recall that previous DDP Board approvals for CIP awards have totaled $877,609. Assuming Ms. Adams is approved for her two projects: e Today’s awards for Ms. Adams’ two projects equal $243,647. ¢ We will hold $56,353 for Ms. Adams’ anticipated third project, at which time her three projects will total a $300,000 maximum applicant award. ¢ =Total allocation of awards to date is: $1,185,544. e = This will leave $14,456 in the fund. The original amount of the fund was $1.2 M. The DDP is planning to request additional funds from the Critical Improvements Program for 2024. Downtown Dover Partnership Special Board Meeting 4-12-23 ATTACHMENT 1

DOWNTOWN DOVER PARTNERSHIP PRELIMINARY MONTHLY BUDGET REPORT FISCAL YEAR 2023 Year to Date Year to Date YTD Budget FY23 Budget March Actual Budget Variance Budget Received Beginning Budget Balance & Cash $ 954,965 $ - $ - $ - $ = Beginning Budget Balance _ 102,749 _-§ - = = PNC Commercial Loan Account _ 852,216 _- - = Seen PNC MMK Account - Bond Money 275,855 - - - - RECEIPTS: Corporate Fundraising _ 7 -$ - $ 45,000 $ (45,000) $ ——_—«60,000_ 0% State Grants & Reimbursements is (Westside) - 56,250 (56,250) 75,000 0% Parking Permits ee - 31,820 22,500 9,320 30,000 106% Parking Meters _ 126 — 903 2,250 (1,347) 3,000 30% Parking Enforcement _ _ = 1,500 (1,500) 2,000 0% Property Rental Income - Governors Avenue qd 2,049) 68,696 97,500 (28,804) 130,000 53% Property Rental Income - EZ-Pass 213,827 220,800 (6,973) 294,400 73% Property Rental Income -Forest Street - -_ 4 9,000 (9,000) 12,000 0% Property Rental Income - 136 W. Loockerman - _ = 9,900 (9,900) 13,200 0% USDA Revolving Loan _ - __- 22,500 (22,500) 30,000 0% Bond Revenue _ _ _ _ : __ 275,000 - 275,000 = aN 0% FY22 Appropriation from City of Dover __ - 112,500 112,500 AS, 150,000 75% ‘MM Interest. - _ = 855 : 855 : 0% Miscellaneous Grants _ _ 100,000 22,500 _ 77,500 30,000 333% Miscellaneous Receipts - 136 15,000 14,864 20,000 1% TOTAL RECEIPTS $ (11,923) $ 803,736 $ 637,200 $ 166,536 $ 849,600 95% DISBURSEMENTS: Salaries GS 17,947 $ 121,747 $ 131,250 $ 9,503 $ 175,000 _ 70% Temporary Help _ eee = _ 6,000 5749 8,000 3% FICA Taxes _ ____1,373 12,000 2,677 ___ 16,000 58% 9,000 9,000 _ 12,000 0% 3,000 2,940 __ 4,000 1% 1,125 AVOO2 ee seed 00) 8% 3,000 (813) 4,000 95% __ 3,000 2,401 4,000 15% _ 3,000 301 4,000 67% |M 25 _ 16,500 14,060 22,000 11% Insurance _ 28 31,500 (8,430) 42,000 95% Property Maintenance _ 4,115 11,250 (1,334) 15,000 84% Telephone/FAX - Fire & Security Syste 684 3,750 999 5,000 55% Postage ee oe 111 ___ 150 23 200 63% Electricity _ 7 - - 750 750 1,000 _ 0% Advertising _ 1,744 __ 5,976 __7,500 1,525 10,000 60% Subscriptions and dues 142 __ 1,364 3,375 2,011 4,500 30% ‘Training, Conference, Food & Travel 1,061 _ 1,383 13,500 12,117 18,000 __ 8% Accounting/Auditing Fees = _-@ 2,250 2250 3,000 0% Office Space Rental 1,576 _ 14,213 14,250 37 19,000 75% Contractual Services _ _ ___ 130,000 375 (129,625) 500 26000% Legal Expenses - - 750 ___750 1,000 0% Community Relations ee 205 2,304 1,500 (804) 2,000 115% Organization Committee _ _ 2,172 4,854 63,750 58,896 85,000 6% Merchant Committee 560 1,024 6,000 4,976 8,000 13% Marketing & Promotions Committee _ _ 314 4,413 12,000 7,587 16,000 28% Parking Committee 484 3,933 11,250 7,317 15,000 26% Design Committee 50 876 11,250 10,374 15,000 6% Bank Fees _ 75 116 675 559 900 13% Property Taxes 98 28,089 24,000 (4,089) 32,000 88% ic Development Committee 7,293 __ 10,594 27,000 16,406 36,000 29% Improvement - ___ 8,000 22,500 14,500 30,000 27% Facade e Program - - 13,376 18,750 5,374 25,000 54% Financial Charges - PNC Loan 15,487 139,385 138,750 (635) 185,000 75% Revolving Fund Loan Disbursement - - 22,500 22,500 30,000 0% TOTAL DISBURSEMENTS $ 59,482 $ 566,345 $ 637,200 $ 70,855 $ 849,600 67% NET INCOME((LOSS) $ (71,405) $ 237,391 $ - $ 237,391 $ : ___Budget Balance __ 58,955 237,391 - - 2 PNC Commercial Loan Account 824,605 _ = - = PNC MMK Account - Bond Money 275,855 - - Ending Working Capital - Budget Balance $ 827,961 $ 237,391 $ - $ -

CONNOORWN = DOWNTOWN DOVER PARTNERSHIP STATEMENT OF ASSETS/BALANCE SHEET FISCAL YEAR 2023 March ASSETS: Cash - PNC Commercial Loan Account $ 824,605 Cash - PNC MMK 5263 1,475,855 Cash - PNC Operating Account 38,405 Total Cash & Investments 2,338,865 Prepaid Items - Land & Buildings Real Estate Holdings 5,196,863 Equipment 6,424 Accumulated Depreciation (809,405) TOTAL ASSETS $ 6,732,747 LIABILITIES: Accounts Payable $ - Escrow Bond Money 1,200,000 Deposits - Leases/Sales Contracts 27,432 Misc. Payable - Accrued Payroll — 4,955 Note Payable - 22-24 Loockerman St. 984,737 Note Payable - Governors Ave. 964,381 TOTAL LIABILITIES $ 3,181,505 FUND BALANCES: Invested in Land & Buildings $ 4,393,882 Current Year - Net Income/(Loss) 237,391 Unreserved, Undesignated (1,080,031) TOTAL FUND BALANCES .$ 3,551,242 TOTAL LIABILITIES AND FUND BALANCES $ 6,732,747 Real Estate Holdings 120 S. Governors Avenue - Acme site $ ~~ 1,239,345 133 - 135 S. Governors Avenue 174,500 139 - 143 S. Governors Avenue 369,429 222 Railroad Avenue 56,746 238 Railroad Avenue 186,137 East side of N. West Street parcel #1 243,000 680 & 684 Forest St 451,636 22-24 West Loockerman Street 1,858,785 Loockerman & North Street Lots - Collegian 177,393 136 W. Loockerman St. 96,671 111 New Street 331,366 Santa House 11,855 Total Buildings & Land $ 5,196,863 * Real Estate Holdings & Loan Balances are not updated for FY22 until entries are generated by the Tax Accountant