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<br />Item #: 5A <br />Meeting Date: April 20, 2012 <br />Type of Business: EDC <br />Administrator Review: ____ <br />City of Mounds View Staff Report <br /> <br /> <br /> <br />To: Economic Development Commission <br />From: Heidi Steinmetz, Economic Development Specialist <br />Item Title/Subject: Discuss Creating a Plan to Use the EDA’s Unobligated TIF <br /> <br /> <br />Background <br /> <br />The EDC’s top priority for 2012 is to “Create a plan for using the EDA’s Unobligated Tax <br />Increment Financing (TIF) with the City of Mounds View”. This priority was partly created in <br />response to the City Council’s joint discussion with the EDC at the November 7, 2011, <br />Work Session that reaffirmed the City Council’s commitment to Economic Development. <br /> <br />On March 9th, Finance Director Mark Beer provided the EDC with a basic TIF presentation <br />and explained how the City could use its unobligated TIF funds within the City over the next <br />few years. <br /> <br />Discussion <br /> <br />Attached are the EDC’s 2012 Priorities and the list of County Rd 10 beautification ideas that <br />the EDC prioritized on March 9th. The EDC could use these lists as a framework for <br />determining how to use the EDA’s unobligated TIF within the City. <br /> <br />Recommendation <br /> <br />Staff recommends that the EDC discuss how they want to create a plan for using the EDA’s <br />unobligated TIF and that the EDC begin creating that plan during the April 20th EDC <br />meeting. The EDC will present the EDA with the plan at a future, joint EDC/EDA meeting. <br /> <br />Respectfully Submitted, <br /> <br />Heidi Steinmetz, Economic Development Specialist <br /> <br /> <br /> <br />Attachments <br /> 2012 EDC Priorities <br /> County Rd 10 Beautification Ideas