Agenda Packets - 1996/12/16 - Laserfiche WebLink

Home Browse Search

c ?CV CITY OF MOUNDS VIEW Agenda Section II•G REQUEST FOR COUNCIL CONSIDERATION Report Number: 416,-113 ,C, tt I `'. STAFF REPORT Report Date: 12/12/96 .,,t,.. 0 Miig COUNCIL MEETING DATE — .,,,,,,r, Special n�QS December 16, 1996 Special Order of Bus. •Pa►tne� Consent Agenda Public Hearings X Council Business Item Description: Resolution No. 5068 Authorizing Consideration of Establishing of Tax Increment Financing District for the Bel Rae/Community and Social Services Center Executive Director's Review/Recommendation: -No Comments to supplement this report -Comments attached. Explanation/Summary(attach supplement sheets as necessary) Summary:I am requesting the Council approve Resolution No. 5068 authorizing the consideration of establishing a TIF district for the Bel Rae site not insomuch to actually create a new TIF district for the site, but to put it on record that the City of Mounds View is at this time reviewing and considering the creation of such a district to help facilitate a project development at the Bel Rae. What this does is record the Council's interest in this potentiality prior to the Legislature meeting, and possibly changes the law to exclude cities from using TIF for certain types of projects. There has been criticism of some communities' use of TIF for community centers, and while the law allows it, some communities have ploughed great amounts of TIF into their facilities, certainly far more than is or has been contemplated in Mounds View. This resolution does not commit the City to creating a TIF district, nor does it authorize staff to facilitate the creation of a TIF district. Staff is and has been doing the calculations to determine amounts of TIF funds available, amounts generated and the criteria for its use throughout e investigation of this project. The 1997 Council will be the one to determine whether or not to actually create district as part of this project, and the requirements for establishing that district would be laid out in full at that time. The resolution was drafted by Jim O'Meara. cd.L./ :".......j Chuck Whiting, ity Adtistrator RECOMMENDATION: Approval of Resolution No. 5068.