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Office of: <br />JOEL R, HANSON, Administrator <br />515 Little Canada Road <br />Little Canada, MN 55117 <br />612-484-2177 <br />FAX: 612-484-4538 <br />CITY OF LITTLE CANADA <br />RAMSEY COUNTY, MINNESOTA <br />MEMORANDUM <br />TO: Mayor Fahey and Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATE: May 4, 1990 <br />RE: Tax Increment Financing Policy <br />Attached for your review is a summary of the changes to the <br />tax increment financing laws enacted by the legislature <br />during the past session. Based on this information, Dan <br />Wilson is conducting a review of the City's tax increment <br />policy for any modifications that should be made to address <br />the changes in state statute as well as those needed to <br />achieve City goals and objectives. It is hoped that he <br />will have this information available for Wednesday night's <br />Council meeting. <br />Another reason for evaluating the City's policy is a <br />request for tax increment financing assistance made by <br />Mr. Bob DeBace and Mr. Gordie Howe for their development <br />project on the corner of South Owasso Boulevard and Country <br />Drive. It would be a goal of this revised policy that <br />decisions regarding the use of tax increment financing are <br />guided in a manner which allows the City to encourage <br />development while still maintaining maximum financial <br />responsibility. Dan Wilson is processing some of the <br />information related to the Howe /DeBace development <br />proposal. Based on the results of Dan's work, the City <br />Council should provide staff with the direction as to how <br />to proceed relative to the Howe /DeBace project and the <br />adoption of a specific tax increment policy. <br />JRH:kpv <br />Enclosures <br />R <br />P e° 54 <br />MAYOR <br />Michael Fahey <br />COUNCIL <br />Beverly Scalze <br />Bill Blesener <br />Rick Collova <br />Jim LaValle <br />