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04-21-1997 WS
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04-21-1997 WS
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6/28/2018 1:52:09 PM
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MV City Council
City Council Document Type
City Council Packets
Date
4/21/1997
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Within the City but outside of TIF Districts • <br /> Financing from the dedicated tax increment fund can be provided in annual installments to the applicant <br /> based on the positive cash flow balance in the Economic Development Authority's dedicated tax increment <br /> fund and need for assistance based on analysis of the "but for"test for the project. The dedicated tax <br /> increment fund includes a value based on the use and is adjusted along with the budget process and goals and <br /> objectives for economic and redevelopment on an annual basis. <br /> APPLICATION FOR TAX INCREMENT FINANCING ASSISTANCE: <br /> The Mounds View Economic Development Authority shall require a deposit in the amount of$1,000 from <br /> the applicant for the EDA's consultants to investigate the feasibility and need for providing Tax Increment <br /> Financing assistance to the applicant and per the terms of the deposit agreement(Attachment"B"). <br /> SUBMITTAL OF APPLICATION FORMS: <br /> Applicants requesting Tax Increment Financing assistance within an existing district or in the creation of a <br /> new district, shall be required to complete and submit the following: <br /> 1. Application for Tax Increment Financing Assistance <br /> 2. Deposit for Review of Tax Increment Financing Assistance • <br /> • <br /> 3 <br />
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