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jar! oF <br />I11oJES <br />EW <br />REQUEST FOR COUNCIL CONSIDERATION <br />,STAFF REPORT <br />AGENDA SESSION DATE June 5. 1995 <br />Agenda Section: 4. <br />Report Number: 95-1360WS <br />Report Date: <br />DISPOSITION <br />Item Description: Discussion of Mounds View's Tax Increment Financing Districts and Proposed <br />Distribution of Excess Tax Increment Funds <br />Administrator's Review/Recommendation: <br />- No comments to supplement this report <br />Comments attached. <br />Explanation/Summary (attach supplement sheets as necessary.) <br />,SUMMARY; <br />Casserly Molzahn & Associates, Inc. have completed an updated analysis of <br />Mounds View's Tax Increment Districts #1, #2, #3 and Development District <br />#1. This analysis was needed to enable the EDA to estimate the current excess <br />increment and excess increment available for projects over the next several <br />years. <br />Based on Mary Molzahn's analysis, Samantha and I allocated the excess <br />available funds to specific projects based on the goals and objectives that have <br />been discussed by the Council/EDA. These projects include Rehabilitation of <br />Mound View's Housing Stock, Economic Development (Business Loan <br />Program), Highway 10 Redevelopment, and School /Community Facility. The <br />amount for Retail Redevelopment was included at the request of Paster <br />Enterprises for assistance in Moundsview Square. I have attached a letter <br />summarizing their request. <br />Mary Molzahn and Jim Casserly will be in attendance to review their analysis <br />of Mounds View's districts. <br />RECOMMENDATION; <br />Cathy Be tt, Economic Development Coordinator <br />