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CITY OF ARDEN HILLS, MINNESOTA <br />Function: Economic Development 254 <br />Activity: TIF #4 Presbyterian Homes 47308 <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 230,086 214,075 214,360 228,480 <br />Depreciation - - - - <br />Other Charges - - - - <br />Total 230,086$ 214,075$ 214,360$ 228,480$ <br />Percent Change (-7.0%) 0.1% 6.6% <br />Expenditures by Classification <br />Increment was received starting in 2014 and is estimated for 2021. Payments are based on 75% of increment <br />received to the developer and estimated for 2021. The only other charges budgeted are administrative charges. <br />2021 BUDGET <br /> Fund # : <br />Activity # : <br />TIF district No. 4, Presbyterian Homes, was established as a 15 year renewal and renovation district to facilitate <br />the redevelopment of existing senior housing units and replacement of existing nursing home units. The first <br />increment was received in 2014 with the districted expiring on December 31, 2029. <br />Utilize funds for Presbyterian Homes project per the development agreement. <br />Ensure compliance with TIF laws for uses of available funds. <br />100% <br />Personnel Services <br />Commodities <br />Contractual Services <br />Depreciation <br />Other Charges <br />32