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. Item No: 01 MOU-MDS VMW Meeting Date: May 7, 2018 Type of Business: Work Session Administrator review: City of Mounds View Staff Report ONEws— To: Honorable Mayor and City Council From: Brian Beeman, Business Development Coordinator & Jon Sevald, City Planner Item Title/Subject: Discuss Redevelopment Priorities Introduction: The purpose of economic development in Mounds View is to enhance the City's tax base through business retention/expansion and community revitalization/redevelopment. Economic development in Mounds View is governed by the Economic Development Commission (EDC) and the Economic Development Authority (EDA). The City provides economic development services including redevelopment and financing activities. The City reserves the right to approve or reject projects on a case-by-case basis taking into account established policies, specific project criteria, and demand on city services in relation to the potential benefits to be received from a proposed project. In accordance with the Minnesota Business Subsidy Law the City will consider using business subsidies to assist private development projects to achieve one or more of the following public purpose objectives: ■ To retain local jobs and /or increase the number and diversity of jobs that offer stable employment and/or livable wages and benefits as defined in the City's Business Subsidy Policy. ■ To encourage additional unsubsidized private development in the area, either directly or indirectly through "spin off' development. ■ To facilitate the development process and to achieve development on sites that would not be developed without public financing assistance. ■ To remove blight and/or encourage redevelopment of commercial and industrial areas in the city that result in high quality redevelopment and private reinvestment. ■ To offset increased costs of redevelopment (e.g. contaminated site clean-up, demolition expenses) over and above the costs normally incurred in development. ■ To create and support a broad range of housing choices in Mounds View. • To encourage the revitalization and redevelopment of the Mounds View Boulevard Corridor. ■ To contribute to the implementation of other public policies, as adopted by the city from time to time, such as the promotion of quality urban or architectural design, energy conservation, and decreasing capital and/or operating costs of local government. ■ To enhance and diversify the City of Mounds View's economic base and to increase the tax base. ■ To finance the costs associated with public infrastructure and public facilities.