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Item No. <br />Staff Report No. <br />Meeting Date: 6/21/99 <br />Type of Business: WK <br />WK.- Work Session; PH: Public Hearing; <br />CA: Consent Agenda; EDAB: EDA Business <br />nds Vi <br />To: Mayor and City Council Members <br />From: Kevin Carroll, Economic Development Coordinator <br />Item Title/Subject: Request for EDC Review of TIF Policies and Options <br />Date of Report: June 21, 1999 <br />SUMMARY: <br />At the City Council meeting that was held on June 7, 1999, Council and staff continued earlier <br />discussions regarding the topic of tax increment financing. The Council reviewed a staff report <br />prepared by Community Development Director Rick Jopke, in which he outlined three general policy <br />options with respect to the City's future use of TIF. The Council indicated that the comments and input <br />of the Economic Development Commission would be useful in connection with the Council's . <br />consideration of the aforementioned policy options. It was noted that the EDC is currently working on <br />an Economic Development section for the City's updated Comprehensive Guide Plan, and some concern <br />was expressed that the EDC'c completion of that work might be unduly delayed if it was believed that <br />said work now required a comprehensive review of the City's TIF policies. Accordingly, it was suggested <br />that the City Council/EDA provide the EDC with specific, written direction so that the parameters of its <br />duties in this regard are clearly understood by all concerned. The following language is therefore <br />proposed for the Council/EDA'S review: <br />"The Mounds View City Council/EDA , as part of its ongoing review of the City's TIF policies and <br />practices, hereby requests that the Economic Development Commission members review and provide <br />recommendations regarding the TIF policy options outlined in the staff report prepared by Community <br />Development Director Rick Jopke for the Council's 6-7-99 meeting. This is done with the understanding <br />that the EDC will subsequently convey to the Council/EDA.its recommendation(s) regarding those <br />options separate from the preparation of the economic development section of the Comprehensive plan <br />inasmuch as the Council/EDA is already involved in comprehensive, ongoing discussions regarding the <br />City's past, current and future use(s) of TIF. The EDC's current work on the optional Economic <br />Development section of the Comprehensive Guide Plan does not require a similarly comprehensive (and <br />therefore duplicative) review of the City's use of TIF. The Council/EDA will continue to request, from <br />time to time, that the EDC review and discuss specific TIF -related topics or issues and then provide the <br />Council with the EDC's advice and/or recommendations in connection therewith." <br />ACTION TO BE CONSIDERED: <br />Provide the above -stated direction to the Economic Development Commission concerning its role in <br />reviewing the City's current policies and objectives concerning the use of tax increment financing. <br />Kevin Carroll <br />Economic Development Coordinator <br />- 612-717-4029 <br />C:\OFFICE\WPWIN\WPDOCS\62199.RPT <br />