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ARDEN HILLS CITY COTINCIL WORK SESSION _ NOVEMBER 12,2024 Mayor Grant said we aren't missing them. We just don't have final numbers yet because they aren't available. Finance Director Yang showed other funds relying on tax levy dollars. The EDA was $0 or a decrease of $110,000 over 2024. The Public Safety Fund is set to $260,000. This includes the base ler,y of $220,000 and the $40,000 city share for the Fire Captains. The Equipment/Building Replacement Fund is $210,000 or a tax levy increase of $110,000. The PIR Fund is set at $250,000 with the new Local Government Aid directed here also. Councilmember Monson said the EDA was set to $0 to help lower the levy when we initially looked at budget numbers. There was a project that was deferred. She said for the Equipment/Building Replacement Fund has $100,000 proposed in a previous slide. She wondered how we got to $210,000. Finance Director Yang confirmed and said it may be a typo on this slide. She will correct it. Councilmember Rousseau asked about the EDA Fund. She recalls Mayor Grant discussing $400,000 in a fund that was Economic Development Commission. She wondered if the EDA could use those funds if they came up with a plan. Mayor Grant said it was the EDA fund. He believes money was left over in Cottage Villas. Councilmember Holden said it can only be used for affordable housing. She thought it was $387,000. Councilmember Rousseau asked that if it's for affordable housing, could it be used at Rice Creek Commons. Councilmember Holden said hopefully we could save it for the rest of the city since the County is going to pay for the affordable housing there. Councilmember Rousseau asked if it could be used for improvements on affordable housing. Mayor Grant said there were specific rules that were published at the time that may have changed. We can look into that. It has to connect to affordable housing in some way. Councilmember Fabel asked what the balance of the fund is. Mayor Grant didn't have the exact amount. He believes that if you dedicated it to affordable housing, you got to keep a certain percentage. If it wasn't, the percentage was lower. Council at the time decided to take the higher percentage and dedicate it to affordable housing. Councilmember Monson had a question regarding the bench hand out. The last time Council saw the table there was 15.5% but the underfunded levy cost was approximately $200,000. Now we see in order to balance the budget we're still at 155% but the $200,000 is not there. Finance Director Yang said that is sitting in Net Changes in Other General Fund Budget Areas at $ 1 18,310. That includes revenue shortfall as well as other General Fund budget items.