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HIGHWAY 10 REDEVELOPMENT REPORT <br /> I. HISTORY OF DEVELOPMENT IN MOUNDS VIEW <br /> In the 1930's Mounds View consisted predominately of vacant land with scattered farms <br /> and few roads until the late 30's when the first homes were built. In the 1940's, some of the first <br /> businesses established on the Mounds View Corridor included The Mermaid, Donatelle's and the <br /> Bel-Rae Ballroom. In the early 1970's First State Bank was established and significant single- <br /> k began to develop with <br /> Century Motor Freight in 1973. Mounds View Square Shopping Center development was in <br /> 1974 and Silver View Plaza followed 10 years later. The most recent major developments <br /> occurred after 1988 with the establishment of the Mounds View Business Park and in 1995 with <br /> the construction of Silver Lake Point Senior Apartments. <br /> II. TIF DISTRICTS IN MOUNDS VIEW <br /> Mounds View has three Tax Increment Districts with a total of$4,116,000 (attachment <br /> A) of tax capacity increment and a 1994 estimated market value of$30 million. Current Projects <br /> are as follows: <br /> a. Mounds View Business Park was established September 22, 1986 (modified <br /> June 12, 1989.) The purpose of this district was to improve the tax base and improve the general <br /> economy of the State and provide employment opportunities. TIF enabled the building of 90 + <br /> acre high quality Business Park. As a result, Mounds View has attracted 25 new quality <br /> companies which has added an additional 1,300 new jobs for the community. Some of the larger <br /> companies that located in Mounds View as a result of the Business Park include: Multi-Tech <br /> Corporation, Garment Graphics, Liberty Check Printers, Vicom/Bakers Square, Sims Deltec, and <br /> Owens & Minor. Elimination of blighted areas promoted non TIF assisted expansion in the <br /> nearby industrial park and adjacent hospitality and recreation facilities which attracted an <br /> additional 200 new jobs. Some of the companies include Saturn of St. Paul, KFC, Taco Bell, <br /> McDonalds, and Perkins. It is estimated that the Mounds View business Park has generated over <br />