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City of Mounds View Staff <br />To: <br />From: <br />Item Title/Subject: <br />Date of Report: <br />Background: <br />Item No. 5H <br />Meeting Date: June 22nd 2000 <br />Type of Business: IN <br />EB: EDC Business <br />IN: Informational Item <br />Economic Development Commission <br />Aaron Parrish, Economic Development Coordinator <br />Charter Commission Resolution 2000-09 <br />June 15, 2000 <br />The City of Mounds View is governed under a charter form of government. Accordingly, the Charter has <br />provisions relating to form of government, council procedure, elections; initiative, referendum, and recall; <br />city administration; taxation and finance; public improvements and special assessments; and a variety of <br />other provisions. <br />On May 31", 2000 the Charter Commission passed Resolution No. 2000-09 which adds section 7.13 to <br />Chapter 7: Taxation and Finances of the Mounds View Charter. The resolution has been included for <br />your information. <br />Charter Commission Resolution No. 2000-09 essentially places limits the city's ability to utilize tax <br />increment financing, and attempts to limit other business incentives. However, the emphasis is on tax <br />increment finance. In essence, the city would not be able use TIF if the captured tax capacity for <br />Mounds View's TIF districts (the amount of TIF dollars generated) was more than 10% of the city's <br />total tax capacity. <br />For taxes payable in 1998, 1999, and 2000, the percentage is 22 percent. The following table is <br />illustrative: <br />PAY YEAR <br />TOTAL TAX CAPACITY <br />TIF TAX CAPACITY <br />PERCENTAGE OF TIF TO TOTAL <br />TAX CAPACITY <br />1998 <br />$7,065,449 <br />$1,533,128 <br />22% <br />1999 <br />$6,933,389 <br />$1,502,950 <br />22% <br />2000 <br />$7,403,151 <br />$1,645,539 <br />22% <br />From a procedural perspective, the Council will review and then subsequently consider the amendment. If <br />the Council votes unanimously to approve the amendment, it will be adopted and incorporated into the <br />Charter. If it is not approved unanimously, it will then be placed before the residents of Mounds View for <br />consideration during a general or special election. <br />Necessary Actions: <br />None. This has been provided for informational purposes. <br />Aaron Parrish, Economic Development Coordinator <br />(763) 717-4029 <br />