Laserfiche WebLink
• <br /> City of Mounds View Staff Report <br /> June 14, 2000 <br /> Page 4 <br /> • <br /> 2000 Abatement Calculation: <br /> City of Mounds View/Ramsey County/ISD #621 <br /> Total Tax Capacity ($1,000,000 Commercial Project): $40,481 <br /> City Tax Rate: 25.551% <br /> County Tax Rate 44.839% <br /> ISD #621 Tax Rate 46.421% <br /> Percent Abated: 95% <br /> 2000 Abatement Payment: $44,921.95 <br /> 5 Year Revenue Projection: $224,609.75 <br /> As one can see, intergovernmental cooperation will be a necessary component for the effective use of <br /> tax abatement. At this point, a preliminary letter has been sent to the school district and county <br /> requesting their perspective on the use of abatement. However, we have not received a response at <br /> this point. Beyond the general parameters outlined in the legislation, the attached "Tax Abatement <br /> Finance Policy &Application"further refines the potential use of abatement in Mounds View. <br /> 1. Bubul, Steve, Mike LaFave, Mark Ruff, and Joel Sutter. " 'How to Succeed at Business Without <br /> Really Trying' aka Abatement." TIF on Stage: Comedy, Tragedy, Mystery: Tax Increment Financing • <br /> 2000. Ehlers and Associates, 2000. <br /> Necessary Actions: <br /> Evaluate and make recommendations regarding the attached Tax Abatement Finance Policy <br /> Aaron Parrish, Economic Development Coordinator <br /> (763) 717-4029 <br /> • <br /> N:\DATA\GROUPS\ECONDEV\EDC\Staff Reports\Staff00\06-6A.doc <br />