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• 2008 Mounds View Comprehensive Plan <br /> Economic Development Authority (EDA) <br /> In 1994, the City Council approved the establishment of an EDA for the City as a mechanism for <br /> achieving major economic development goals. Minnesota State Statutes guide the powers of the <br /> EDA;however,the EDA is generally able to purchase property,redevelop property and/or provide <br /> public financing of projects. The members of the City Council make up the membership of the <br /> Mounds View EDA. <br /> Economic Development Commission (EDC) <br /> The Economic Development Commission(EDC)is a seven-member body that advises the EDA on <br /> economic development activities. The City established the Commission to facilitate positive <br /> interaction between the City and the business community. The Commissioners may be City residents <br /> or non-resident business representatives. <br /> The City should use EDA powers and the advice of the EDC and City staff,to address the following <br /> economic development challenges in Mounds View. <br /> Fiscal Disparities <br /> Fiscal Disparities is unique to Minnesota and has been around for over thirty years. Up to 40%of <br /> the value of commercial and industrial property in Mounds View is sent to what is called the Fiscal <br /> Disparities tax base"pool of value." From this pool,it is combined with similar tax values from the <br /> seven-county metro area and redistributed based on whether each community or taxing unit's fiscal <br /> capacity per capita was higher or lower than the metro area average. <br /> Table 27: Mounds View Fiscal Disparities Receipts,2002-2008 <br /> Year Amount %of Gross Levy <br /> 2002 $628,289 23.79% <br /> 2003 $664,704 25.48% <br /> 2004 $561,710 18.66% <br /> 2005 $594,802 15.50% <br /> 2006 $742,017 19.33% <br /> 2007 $680,323 17.72% <br /> 2008 $903,922 23.55% <br /> Source: Mounds View Finance Department <br /> Chapter 7: Economic Development 7-3 <br />