HomeMy WebLinkAboutResolution 10298 - 2026/09/14RESOLUTION NO. 10298
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
APPROVING THE PRELIMINARY EDA PROPERTY TAX LEVY FOR FISCAL YEAR 2027
WHEREAS, the Mounds View Economic Development Authority (the "EDA") has
requested that the City of Mounds View levy a tax for the benefit of the EDA pursuant to Minnesota
Statutes 469.107, Subdivision 1.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Mounds View
hereby gives preliminary approval for the collection of a levy for the benefit of the economic
development activities within the community in fiscal year 2027 in the amount not to exceed
$160,000, which amount shall be included in the City's proposed levy.
Adopted this 14th Day of September 2026.
(ATTEST)
(SEAL)
ch Lindstrom, Mayor
4,� A
Nyl ikm , Executive Director
The Mounds View Vision
A Thriving Desirable Community
CITY OF MOUNDS VIEW
EDA Fund (230)
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
2026
2023 2024 2025 ORIGINAL 2026 BUDGET
ACTUAL ACTUAL ACTUAL BUDGET RE -EST. 2027
Revenues:
Property Taxes
100,000
100,000
160,000
160,000
160,000
160,000
Interest on Notes
613
875
1,262
-
-
-
Total revenues
100,613
100,875
161,262
160,000
160,000
160,000
Expenditures:
Personnel services
166,885
182,198
155,932
89,920
89,920
92,470
Materials & supplies
-
27
-
200
200
100
Other services & charges
34,298
30,036
18,593
31,975
31,975
26,520
Loans/Subsidies
13,728
25,000
9,999
60,000
60,000
60,000
Total expenditures
214,910
237,260
184,524
182,095
182,095
179,090
Excess (deficit) of revenue
over expenditures
(114,298)
(136,386)
(23,263)
(22,095)
(22,095)
(19,090)
Other financing sources (uses):
Transfers in (out)
General Fund
61,000
50,000
-
-
-
-
TIF #5
83,197
87,020
91,319
90,740
90,740
105,940
TIF #6
-
2,987
791
130
130
300
TIF #7
-
6,666
4,580
4,050
4,050
4,570
Net increase (decrease) in fund balance
29,899
10,287
73,427
72,825
72,825
91,720
Fund balance - January 1
1,399,798
1,429,697
1,439,985
1,513,412
1,513,412
1,586,237
Fund balance - December 31
1,429,697
1,439,985
1,513,412
1,586,237
1,586,237
1,677,957
Change in current assets
45,484
(2,400)
1,526
-
-
-
Change in current liabilities
(43,258)
(5,790)
(31,671)
Notes Receivable
(2,507)
(43,545)
25,049
(26,500)
(26,500)
(26,500)
Land Held for Resale
(310,582)
(300,727)
(2,604)
-
-
-
Net increase (decrease) in cash
(280,964)
(342,175)
65,727
46,325
46,325
65,220
Cash balance - January 1
1,039,149
758,185
416,010
481,738
481,738
528,063
Cash balance - December 31
758,195
416,010
481,738
528,063
528,063
593,283
Fund: 230 EDA
Fund: 230 Department: 4650
Housing and Economic Development
ACTUAL
ACTUAL
ACTUAL
BUDGET
BUDGET
Account
Description
2023
2024
2025
2026
2027 Description
1600
Supplies, operating
-
27
-
200
100 Misc supplies
2100
Books & periodicals
-
-
-
-
- Misc. reports & periodicals (last used 2018)
3030
Other professional services
4,000
4,000 Legal fees for development reviews
5,000
5,000 Financial consultant fees (Ehlers)
12,000
- Special project consultant fees
2,220
2,400 5 % of audit est $48,000
5,500
6,000 Loan Program and Energy Audit Consultant (CEE)
-
- Marketing Consultant fees
24, 73 5
11,948
10,401
29,720
17,400
3100
Telephone
600
600
600
600
600 Cell phone service (1) employee
3420
Advertising
2,856
140
-
1,500
1,575 Targeted advertisements
3430
Printing
-
-
-
-
- Misc printing (last used 2013)
3610
Memberships
350
350 Economic Development Assoc of MN (EDAM)
550
550 Turin Cities North Chamber of Commerce dues
300
350 Mn Real Estate Exchangers (MREE)
1,950
2,130 Nat? Council of Exchangers annual (NCE) ($2,034 in 2026)
1,805
1,905
3,050
3,150
3,380
3630
Training & conferences
275
275 Ehlers Finance Seminar
I,200
I,200 EDAM spring/summer conferences
250
250 Other miscellaneous training
530
1,545
1,787
1,725
1,725
3800
Mileage
1,022
1,035
984
1,500
1,500 Misc. mileage
4750
Real Estate Taxes
-
7,064
-
-
- Taxes on acquired property
4800
Insurance
603
824
286
280
340 Insurance policy premiums
5210
Housing programs
-
26,500
17,000 Home Improve/Mobile Home/Emergency Repair
1,500
1,500 Home Energy Squad (City pays 50 % of Fee for Residents to get an energy audit)
2,146
5,075
1,486
28,000
18,500
7050
Capital, real estate
-
-
-
-
- Property - request budget adjustment if one occurs
9300
Business loans/subsidies/grants
-
26,500
26,500 Business improvement partnership loans/subsidies
-
15,000 EDA forgivable loan program, local business, non -franchise
13,729
25,000
9,999
26,500
41,500
48,026
55,062
28,592
92,175
86,620
14.65 %
-48.07%
222.38 %
-6.03