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<br />. <br /> <br />. <br /> <br />. <br /> <br />~ <br />~~HILLS <br /> <br />2005 PROPOSED BUDGET - SUMMARY BY DEPT. <br /> <br />Department Name: TIP District # 2 - Round Lake <br /> <br />2004 Budget: $342,450 <br /> <br />Preliminarv 2005 Budget: $290,376 <br /> <br />Departmental Overview/Summary: <br />TIP District No.2, Round Lake Office, was established as a twenty-five year <br />Redevelopment Devetopment District on June 29, 1989. This district is located on the <br />northeast quadrant of the I-35W/I-694 intersection, <br />Improvements for this district were funded with the issuance of $3, 1 00,000 General <br />Obligation Tax Increment Bond on March 1, 1998. Debt Service Fund No, 325 was <br />created to track repayment of the bond principal and interest. <br />An inter-fund loan from PIR fund No, 501 was needed for the acquisition of the <br />Indykiewicz propcrty, Thcrc is currently a receivable on the books from Ramsey County <br />for creation of the storm retention pond and other improvements needed because of the <br />linkage with their Highway 96 reconstruction project. It is planned to pay-off the inter- <br />fund loan, when the Indy property is sold and the Ramsey County receivable is realized, <br /> <br />Financial Overview - 2005 <br /> <br />TIF #2 Round Lake <br /> <br />Other <br />Serv/Charges,-- <br />$4,000,1% <br /> <br />Supplies, $0, <br />0% <br /> <br /> <br />Capital <br />Outlay, $0, <br />0% <br /> <br />Operating <br />Transfers, <br />$286,376, <br />99% <br /> <br />Personal <br />Sef\ices, $0, <br />0% <br /> <br />Significant Chanl!es from Prior Year: <br />In 2004 there was a budgeted expenditure for an inter-fund loan principle payment. This <br />expenditure was not budgeted for in 2005, nor was it budgeted in years prior to 2004, <br />