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• <br />Action 1: Allow market forces to determine the redevelopment of nonconforming <br />properties. <br />Action 2: Expedite the redevelopment of nonconforming properties by providing <br />funding sources for the acquisition of priority properties as they become available; <br />extend utilities to developable sites; provide business loans for special assessments <br />or rehabilitation. This requires the City Council to determine it wants to make a <br />financial commitment to redevelopment and how those funds can be made available. <br />Options available for the City Council to consider: <br />• Tax Increment Financing <br />• Tax Abatement <br />• Special Assessments imposed upon the property owner(s) to pay for <br />improvements that benefit the property <br />• Establishing sewer /water funding for economic development zones <br />• Developing a policy of using pooled TIF for a revolving economic development <br />fund. This allows 20% or 25% of total new increment from TIF districts to be <br />spent outside the boundaries of the TIF district <br />• Encourage private equity in the form of an Economic Development Corporation <br />Other options to provide public funding sources to spur public investment in <br />private development entail an additional tax levy including: <br />• Anoka County HRA levy <br />• Lino Lakes Economic Development Authority (EDA) levy <br />Action 3: Consider changes to zoning ordinances to allow uses within <br />commercial /industrial zones which are not currently allowed. To implement the draft <br />Comprehensive Plan, staff is reviewing city ordinances and evaluating existing <br />allowable uses in the commercial and industrial zones. <br />EDAC Recommendation <br />EDAC's Redevelopment Task Force recommends that the City Council pursue Actions <br />2 and 3. <br />Action 2: While EDAC recognizes that market forces will play a major factor in future <br />redevelopment of properties on Lake Drive and Hodgson Road, EDAC encourages the <br />City to take a proactive role in redevelopment to encourage private investment. This <br />includes the City making best use of financial tools available. <br />Action 3: EDAC recommends that once the Comprehensive Plan is passed by the City <br />Council, that the City examine its commercial /industrial zoning ordinances. Consider <br />