Laserfiche WebLink
EDA GENERAL <br /> Function: Economic Development <br /> Supervisor: Community Development Director <br /> Fund#: 250 <br /> Activity#: 47300 <br /> Activity Scope <br /> This Special Revenue Fund accounts for general administration activities that are <br /> not specific to any individual Tax Increment Financing(TIF) District, as well as <br /> activities associated with the Economic Development Commission and Economic <br /> Development Authority. <br /> Obiectives <br /> 1. Continue to market the City of Arden Hills <br /> 2. Gateway signs at City entrances <br /> Issues <br /> 1. Consistent administration of the City's policies, plan, ordinances, guidelines, <br /> statutes, etc. <br /> 2. Promotion of industrial property available. <br /> Measurable Workload Data <br /> None developed at this time. <br /> Budget Commentary <br /> The revenue to this fund has been primarily excess increment and interest <br /> income in the past years with transfers from the General Fund from 2008 - <br /> 2011. A transfer was made in 2012 for the Conduit Debt revenue received in <br /> 2011 from the Presbyterian Homes project. The tax increment excess has <br /> risen substantially over the past three years, but a tax petition has caused <br /> this to decrease recently and the total effect is not known. This funding <br /> source will go away after 2015. <br /> In 2008, the salary and benefit costs for this activity were transferred to the <br /> General Fund in the Planning department. At that time, there was a <br /> negative fund balance and a transfer from the General Fund was set up to <br /> correct the negative balance and fund Gateway signs. As previously stated, <br /> transfers had been routine from 2008 through 2011. <br /> With the 2012 budget, the salary and benefit costs had been transferred back <br /> to the fund as before. An administrative charge has also been added as this <br /> was established in 2008 and all funds are charged back for overhead costs <br /> 3 <br />