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CITY OF ARDEN HILLS, MINNESOTA <br />Function: Economic Development 251 <br />Activity: EDA Revolving Loan 47306 <br /> <br />Activity Scope <br />Objectives <br />Issues <br />Budget Commentary <br />2018 2019 2020 2021 <br />Budget Summary ACTUAL ACTUAL BUDGET BUDGET <br />Personnel Services -$ -$ -$ -$ <br />Commodities - - - - <br />Contractual Services 34,208 - - - <br />Capital Outlay - - - - <br />Other Charges 135,727 - - - <br />Total 169,934$ -$ -$ -$ <br />Percent Change (-100.0%) 0.0% 0.0% <br />Expenditures by Classification <br />There are currently no planned expenditures at this time. Activity in this fund would occur if the Economic <br />Development Authority authorized a loan after an application was made. <br />2021 BUDGET <br /> Fund # : <br />Activity # : <br />This Special Revenue Fund was established to administer economic development loans. The primary revenue <br />source was investment income. <br />To assist local businesses that meet the loan criteria established by the EDA. <br />1. The current economy is starting to rebounds and is slowly lending itself to expansion or improvements. <br />2. Promoting the program to the community businesses. <br />Personnel Services <br />Commodities <br />Contractual Services <br />Capital Outlay <br />Other Charges <br />30