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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 <br />installments to the applicant based on the positive cash flow balance in the <br />Economic Development Authority's dedicated tax increment fund and need for <br />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 <br />budget process and goals and objectives for economic and redevelopment on an <br />annual basis. <br />ADMINISTRATION POOLED FUNDS AND PARCEL DECERTIFICATION: <br />Administration <br />Tax Increment Finance districts will be administered in accordance with applicable <br />Minnesota State Statutes the Tax Increment Finance Plan, and the Development <br />District Plan. <br />Pooled Funds <br />Pooled funds are available when the current years increment exceeds existing <br />obligations. In the past, funds have been allocated for low interest improvement <br />loans, housing replacement, and Highway 10 redevelopment. The Mounds View <br />Economic Development Authority will address the future use of pooled funds in the <br />following manner: (1) view tax increment as a means secondary to programmatic <br />objectives; (2) allocate all available pooled increment; and (3) community decides on <br />future development needs and uses TIF and/or other means to accomplish those <br />ends. To more effectively utilize pooled increment, the Economic Development <br />Commission will recommend funding priorities to the Economic Development <br />Authority. This will be done in conjunction with the annual budgetary process. <br />Requests made for the use of pooled funds by a business or developer outside <br />established TIF districts are discussed in the two previous sections. <br />Parcel Decertification <br />Parcels in Mounds View's Tax Increment Finance districts will be decertified as <br />required by and in accordance with applicable Minnesota State Statutes, the <br />Development District Plan, and the TIF Plans as amended. In the event that the <br />Economic Development Authority desires to return pooled increment to the respective <br />taxing jurisdictions, the following guidelines will be observed: (1) reserves should be <br />greater than or equal to next years projected increment; and (2) prior to disbursing <br />pooled funds to the respective taxing jurisdictions, the Economic Development <br />Authority will consider future projects and community needs. <br />N:\DATA\GROUPS\ECONDEV\TIF\Policy.DOC <br />