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' MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br /> REQUEST FOR EDA CONSIDERATION <br /> STA REPORT <br /> • EDA ME~iLNG DATE May 9, 1994 (work Session) <br /> EDA Action: <br /> fE Special Order of Business Agenda Section: 2. <br /> L Public Hearings <br /> Report Number: <br /> Consent A:zenda Report Date: 5-5-94 <br /> ui A Business <br /> • <br /> Item Description: <br /> Discussion Regarding Agreement on Future TIP Assistance :or <br /> Business Park <br /> Executive Director's Review/Recommendation: <br /> - No comments to suppiement this report <br /> - Comments ents attached <br /> E xplanation,Sunin:ary (attach supplement sheets as necessary) <br /> SUMMARY: <br /> Jim O'Meara has drafted the attached Agreement for consideration by th=_ <br /> EDA Commissioners . It represents a non-binding agreement by which the EDA <br /> 4110 and Everest- will have agreed upon some broad guidelines for future tax <br /> increment assistance for the completion of the Business Park. <br /> I The Agreement has been prepared only to represent a possible solution to <br /> the on/off, on/off discussions that have been held with -Everest for the <br /> past year and a half regarding the level of TIF assistance ( if any) that <br /> the City (henceforth to be the EDA) would provide for projects within the <br /> 'Business Park. <br /> The Agreement sets forth some of the basics that have been finalized in <br /> I regards to the Agreements both with Hill and Multi-Tech and represents <br /> guidelines by which both the EDA and Everest may use in negotiating <br /> future developments. . <br /> No action is requested other than discussion of the merits of or <br /> I objections to such an agreement. <br /> Samantha Orduno, Executive Director <br /> RECOMMMEtiDATTON: <br /> I <br /> 1 <br /> II <br /> II ' <br />