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EDC Minutes July 15, 2016 Page 2 of 10 projects. MN Statutes 469.107 authorizes a city, at the request of an EDA, to levy a tax for the benefit of the EDA. The tax must not be more than 0.01813 percent of the estimated market value. The Statute doesn't expressly limit the proceeds to any particular use, but may be used for any activity an EDA is authorized to carry out under the EDA Act for housing and redevelopment activities and broader economic development activities. Beeman continued by stating, the City is considering an EDA levy as one method to fund various economic development activities. The levy would provide the resources necessary to purchase the properties, demo the buildings, and repackage them for development activities. New development will assist in increasing the tax base, evening out the overall tax levy, and in some instances bringing in new jobs, and aiding in the attraction, retention, rehabilitation, and preservation of commercial properties, retail, residential, recreational, and public service centers. Other types of goals for an EDA levy is the support of senior housing, multifamily use, utility telecommunication projects, business incubator, loans, other business programs, and transportation systems. The emphasis on the EDA levy would be to replace older buildings and increase the tax base. This would assist in eliminating blight, and in meeting the economic and redevelopment goals. Other goals would be in assisting with operational costs associated with economic development activities. The City of Mounds View granted authority to the EDA through Minnesota Statutes, Section 469.09, subdivision 1, giving specific authority to exercise all powers granted to a Housing and Redevelopment Authority under Minnesota Statutes, Sections 469.001 to 469.047. This power was granted to the EDA on November 23, 2015 through Resolution 8467; a resolution amending and restating resolution 4532, an enabling resolution establishing the Mounds View Economic Development Authority under Minnesota Statutes, Sections 469.090 through 469.108. Beeman informed the Commission that due to lack of funding, staff developed a list of activities restricted or not supported. The first on the list is marketing. Currently, there are no funds budgeted for marketing. Marketing is used for new signage, branding, promoting the new redevelopment sites and marketing to businesses in other cities. Some cities participate with the Department of Employment and Economic Development (DEED) in trade shows to attract national and global companies. There is also the Shovel Ready program whereby a city can certify their parcels with the Shovel Ready designation for companies looking to move in right away to start development on parcels with utilities, environmental remediation, and other features already completed and ready for construction. Second is advertising. Currently, there are no funds budgeted for advertising. Advertising can be used for business journals in certain industries to target business leaders, Mounds View Matters, and other advertising venues. The city advertises Festival in the Park and other types of activities that go on throughout the year. Under small scale incentives, the EDA has a program called, the Business Improvement Program. Staff has received requests for this loan program in the past; however the program is currently unfunded and has been for several years. While we have the