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CITY OF ARDEN HILLS, MINNESOTA <br />Function: Economic Development 255 <br />Activity: TIF #5 47309 <br /> <br />Activity Scope <br />Objectives <br />Issues <br />Budget Commentary <br />2019 2020 2021 2022 <br />Budget Summary ACTUAL ACTUAL BUDGET BUDGET <br />Personnel Services -$ -$ -$ -$ <br />Commodities - - - - <br />Contractual Services 22,000 - 1,800 1,900 <br />Depreciation - - - - <br />Other Charges - - - - <br />Total 22,000$ -$ 1,800$ 1,900$ <br />Percent Change (-100.0%) 100.0% 5.6% <br />Expenditures by Classification <br />This district was established in December 2019. Only administrative costs are anticipated at this time. <br />2022 BUDGET <br /> Fund # : <br />Activity # : <br />TIF district No. 5, TCAAP, was established pursuant to special legislation as a 30 year redevelopment district to <br />facilitate a mixed-use development. The first increment is anticipated in 2023 with the districted terminating no <br />later than 2053. <br />Utilize funds as able for mixed-use development on the TCAAP property. The City first needs to ensure they have <br />sufficient tax revenues to cover increased costs due to the development. Once it is determined those costs are <br />covered, TIF applications can be considered. <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