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�-- �- -- � - �-` --- -- -=� �� ��� r _.s-�. _. �� -- — � _ _ - �- �.____�� <br />M[OUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br />REQUEST FOR EDA CONSIDERATION <br />CT�,�F FEPORT <br />EDA MEETING DATE M," 1� 1 qq� <br />EDA Action: <br />❑ Special Order of Business A�enda Section: 7• A• <br />❑ Public I-Iearings Report Nuniber: 96—EDA50 <br />❑ Consent Agenda Report Date: 5-09-96 <br />�Q EDA Business <br />rce«� D�s�r�p��o��: Consideration of Approving a Deposit Agreement for Evaluation of Tax <br />lncrement Assistance By and Between the Mounds View Economic Development <br />Executive Director's Review/Recommenda(ontnor�ty ana v.i5. <br />- No comments to supplement this report '�.4�". ' <br />� <br />- Comiiieiits attacliccl <br />�xplauation/Summary �1u:�ch supplcment sheets as nece;ssary) <br />S UMNtARY: <br />Attached is a deposit agreement in the amount of $2,500 to be applied toward the EDA's <br />costs to evaluate the use of tax increment assistance with V.B. Digs for the redevelopment <br />of the Bel-Rae siCe. <br />The agreement allows the EDA to collect additional funds if the costs to evaluate TIF <br />assistance is in excess of the $2,500 deposit. lf the pro)ect is approved, the deposit will be <br />reimbursed to V.B. Digs. If the project does not proceed, due to either parties decision, <br />then the deposit will be applied to expenses incurred. <br />The agreement does not obligate the EDA to proceed with the redevelopment of the <br />properry with V.B. Digs. <br />V.B. Digs has agreed to enter into the agreement with the EDA if approved. <br />Ca y Benne onomic Development Coordinator\ <br />EDA Executive Director <br />RECOi�I1�tEVD�TTON: <br />Approve/Deny Deposit Agreement By and Between the Mounds View EDA and V.6. Digs <br />