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CITY OF ARDEN HILLS, MINNESOTA 2026 BUDGET <br />Function: Economic Development Fund # 254 <br />Activity: TIF #4 Presbyterian Homes Activity # 47308 <br />Activity Scope <br />TIF district No. 4, Presbyterian Homes, was established as a 15 year renewal and renovation district to facilitate the <br />redevelopment of existing senior housing units and replacement of existing nursing home units. The first increment <br />was received in 2014 with the districted set to expire on December 31, 2029. The district was decertified early on <br />December 31, 2022. <br />Objectives <br />Utilize funds for Presbyterian Homes project per the development agreement. <br />Issues <br />Ensure compliance with TIF laws for uses of available funds. <br />Budget Commentary <br />Increment was received starting in 2014. The TIF note was paid in full to the developer in 2022. Only <br />administrative costs have been planned for 2026, with no change from 2025. <br />2023 2024 2025 <br />Budget Summary ACTUAL ACTUAL BUDGET <br />Personnel Services $ - $ - $ - <br />Commodities - - - <br />Contractual Services 1,084 225,885 1,900 <br />Depreciation - - - <br />Other Charges - - - <br />Total $ 1,084 $ 225,885 $ 1,900 <br />Percent Change 20743.1 % (-99.2%) <br />Expenditures by Classification <br />2026 <br />ni lm� <br />1,900 <br />$ 1,900 <br />0.0% <br />13Personnel Services <br />o Commodities <br />13Contractual Services <br />o Depreciation <br />■Other Charges <br />100% <br />P�: <br />