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<br />~ <br />~HlLLS <br /> <br />2008 PROPOSED BUDGET - SUMMARY BY DEPT. <br /> <br />Fund: EDA TIF #3 - 705 <br />:jf~~~~'.t~~'; . fjlFliisM~ 11 J.. ;o(Jottllt~~Tfzitlls.t~*it1~:ft~' <br /> <br />2007 Budeet: $43,200 <br /> <br />2008 Proposed Budeet: $44,200 <br /> <br />::~=;~~1:~::;~~=:oa;~g, was,origi~~.~e~~~d. ~~HGlWiilg District,on <br />~;t:it~~t1ij~l~i~!ii~:~~~~~:::e:~:. . '1~;'l~~eof <br /> <br />caIDpleids a ' ow-modemteineomeB "..... . <br />'The 'City entered:iIifu a.5'pay-as-you.,go" agfeement'N. 'den Hills <br />LiUli~edPartneisllip:OnFelmrnry 28,) 9l),LThe D~ve'r '.A .. 1.s forthe <br />developer to be reimbllFsed for ceftain public development'acti:Vi.tiesinitially estimated at <br />$834,286. Repayn{dpt to the. developer will only.oeft<:HI1:t= fuCi;emertt aCtually received <br />from the district. Payments will be 90% of the tax increment received notto exceed a <br />total annual.payment Df$57,557. The City is not obligated to make payments after <br />February I, 201'0. <br /> <br />FinanCialOvel'view - 20118 <br /> <br />2008 <br />EDA TIF#3 Cottage Villas <br /> <br />Personal <br />Services, $0, <br />0% <br /> <br />Capital Outlay. <br />$0,0% <br /> <br /> <br />rJlaterials & <br />Supplies, $0, <br />0% <br /> <br />Other Services <br />& Olarges. <br />$44,200, 100% <br /> <br />Sienificant Chanees from Prior Year: <br />None <br /> <br />86 <br />