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CITY OF ARDEN HILLS, MINNESOTA 2020 BUDGET <br />Function: Economic Development Fund # 253 <br />Activity: TIF #3 Cottage Villas Activity # 47305 <br />Activity Scope <br />TIF District No. 3, Cottage Villas Housing, was originally certified as a Housing District on May 10, 1993. This 64 <br />unit Cottage Villas Apartment complex is available for low -moderate income seniors. Originally, this district was <br />set to decertify on December 31, 2009. In December 2009, the City Council extended this district until December <br />31, 2019, to allow the City the possibility of using these funds for other affordable housing projects within the City. <br />Objectives <br />Utilize available funds for low to moderate income housing projects. <br />Issues <br />Ensure use of funds is consistent with TIF laws. <br />Budget Commentary <br />The City no longer has any obligations to pay the developer as of February 1, 2010. Only administrative costs <br />have been planned for 2020. <br />2017 2018 2019 2020 <br />Budget Summary ACTUAL ACTUAL BUDGET BUDGET <br />Personnel Services $ - $ - $ - $ - <br />Commodities - - - - <br />Contractual Services 1,549 1,503 2,000 1,800 <br />Capital Outlay - - - - <br />Other Charges - - - - <br />Total $ 1,549 $ 1,503 $ 2,000 $ 1,800 <br />Percent Change (-3.0%) 33.1% (-10.0%) <br />Expenditures by Classification <br />47 <br />oPersonnel Services <br />OCommodities <br />OContractual Services <br />- - <br />OCapital Outlay <br />â– Other Charges <br />100% <br />47 <br />