Laserfiche WebLink
office and industrial space in the park which brought in over 1,500 employees and generated in <br /> excess of$30 million of new real estate tax base. Mr. Nelson stated the Mounds View Business <br /> Park is the single largest and most important economical development project Mounds View has <br /> ever seen with benefits from its substantial tax base, employment opportunities, and spill over <br /> economic effects of spending dollars in the community. Mr. Nelson stated the intangible <br /> benefits include the aesthetics of the ponds, tree lined boulevards, architectural character, and <br /> placing Mounds View on the Twin Cities commercial/industrial real estate map. <br /> Mr. Nelson publicly acknowledged the contribution of past Mounds View staff and elected <br /> officials who helped in the development of the Mounds View Business Park as follows: Former <br /> City Administrator Don Pauley, Former Mayor Jerry Linke, Former Mayor and Council Member <br /> Sue Hankner, Former City Council Members Phyllis Blanchard, Diane Wuori and Barb Haake, <br /> and Council Member Gary Quick. He encouraged the residents of Mounds View to remember <br /> and thank these people for their contributions. <br /> Mr. Nelson stated that he felt it was their duty to inform the public and Mounds View residents <br /> of a risk and potential problem relating to the Mounds View Business Park that directly affects <br /> them. He explained that since the Park was so successful,the project is generating millions of <br /> dollars of excess real estate taxes (tax increment) which flows to the City outside of its normal <br /> operating budget and tax collections. He explained this presents a real challenge, burden, and <br /> danger to the City concerning the handling, spending, and accounting for these excess increment <br /> funds. He commented on what they have witnessed in other communities which resulted in <br /> problems of favoritism, secret meetings, lack of accountability and special deals for"pet" <br /> projects through the illegal use of excess TIF funds. <br /> To avoid thee dangers and pitfalls and return the excess increment to City, County and School <br /> District taxpayers, Mr. Nelson urged the Council and EDA and all Mounds View residents to act <br /> to close down TIF districts as soon as possible after TIF project expenses are paid for. '' <br /> 7. REPORTS <br /> There were none at this time. <br /> 8. ADJOURNMENT <br /> President Coughlin adjourned the meeting at 9:59 P.M. <br /> Respectfully submitted, <br /> Recorded and transcribed by: <br /> 4 U:\CARTS\COUNCIL\MINUTES\MVEDA26.APR <br /> , i <br />