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H.F. 1380 (Ann Rest) Eliminates the tax-exempt status of state and municipal <br /> bonds. It is estimated that this would result in significantly higher borrowing <br /> costs for the state and local governments since investors will not realize the <br /> state income tax exclusion. <br /> H.F. 1354 (Abrams) Requires State Auditor approval of new TIF districts and <br /> amendments that add area to existing TIF districts. The Auditor may <br /> disapprove if they feel it is not in the best interest of the State. <br /> Senate Bill - (only pro-TIF bill currently) - Proposal to eliminate the LGA/HACA <br /> TIF penalty. <br /> We will keep a close eye on all of this legislation. <br /> Retention Surveys Reviewed by EDC: <br /> • I have completed a summary of Part I of 108 survey's for the EDC's review this <br /> week. The EDC will look at the results and recommend strategies on actions <br /> that the City should pursue in response to the results. They will also determine <br /> what information should be summarized for Part II, the Mounds View <br /> Supplement and Industry Supplements. <br /> Participation in Commercial Real Estate & Development Exhibition: <br /> The City of Mounds View will participate in the Twin Cities Commercial Real Estate <br /> and Development Exhibition on April 19th at the Minneapolis Convention Center <br /> through the North Metro Mayors Association. Jill Hanson, New Brighton; Sara <br /> Nelson, North Metro Mayors and I will organize the booth for the trade show and <br /> coordinate participation by other Cities who belong to North Metro Mayors <br /> Association. This trade show is heavily attended by real estate developers, <br /> industry specialists and investors. <br /> Update on Proposed Hotel Development: <br /> I spoke with Charlie Hall today and apparently the project has been approved by <br /> the Rice Creek Watershed District! In addition, Charlie spoke to the owner of <br /> Moundsview Antiques building. They have agreed to only lease the building for <br /> one year terms with the contingency that the company will move upon the sale of <br /> the property. Charlie is extremely enthusiastic about the project and is working <br /> with a group of investors to make it a top notch hotel. <br /> Cathy <br />