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• <br /> • '• <br /> • Item #: 5A <br /> MOUNDS i DS j jIE W Meeting Date: April 20, 2012 <br /> VIEW Type of Business: EDC <br /> Administrator Review: <br /> City of Mounds View Staff Report <br /> To: Economic Development Commission <br /> From: Heidi Steinmetz, Economic Development Specialist <br /> Item Title/Subject: Discuss Creating a Plan to Use the EDA's Unobligated TIF <br /> Background <br /> The EDC's top priority for 2012 is to "Create a plan for using the EDA's Unobligated Tax <br /> Increment Financing (TIF)with the City of Mounds View". This priority was partly created in <br /> response to the City Council's joint discussion with the EDC at the November 7, 2011, <br /> Work Session that reaffirmed the City Council's commitment to Economic Development. <br /> On March 9th, Finance Director Mark Beer provided the EDC with a basic TIF presentation <br /> and explained how the City could use its unobligated TIF funds within the City over the next <br /> few years. <br /> • Discussion <br /> Attached are the EDC's 2012 Priorities and the list of County Rd 10 beautification ideas that <br /> the EDC prioritized on March 9th. The EDC could use these lists as a framework for <br /> determining how to use the EDA's unobligated TIF within the City. <br /> Recommendation <br /> Staff recommends that the EDC discuss how they want to create a plan for using the EDA's <br /> unobligated TIF and that the EDC begin creating that plan during the April 20th EDC <br /> meeting. The EDC will present the EDA with the plan at a future,joint EDC/EDA meeting. <br /> Respectfully Submitted, <br /> / ,D,�pp" ". <br /> Heidi Steinmetz, Economic Development Specialist <br /> Attachments <br /> • 2012 EDC Priorities <br /> • County Rd 10 Beautification Ideas <br /> • <br />