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Mounds View EDA July 10, 2006 Regular Meeting Page 6 Mr. Glidden stated he would like to see what goals are established with various TIF districts and 214 steps to take when it is completed so there is no confusion. He stated he has not seen the Saint 215 Anthony or Mounds View TIF policies. He said he came here asking the EDA to ensure that 216 there are things in Mounds View’s TIF policy addressing specific objectives, criteria of TIF 217 districts, and benefits to City. 218 219 Mr. Glidden stated he scanned through a document that addresses those issues and that there are 220 serious discussions about criterion establishing a TIF district. He stated that the Mounds View 221 TIF policy should address those issues and ensure that they are clear-cut and communicable to 222 residents. He stated all the discussions he’s been involved in point that the policy is too vague. 223 He said the City adopts those districts for special reasons for economic development. 224 225 Mr. Glidden posed the question about what percent of the tax base will be developed or re-226 developed over the next five to ten years. He stated that such a discussion might bring up some 227 TIF ideas that would help the EDA establish the specific criteria for TIF funding. 228 229 Commissioner Thomas stated Mr. Glidden pointed out one of her concerns: that the objectives of 230 TIF districts are too broad. She said she likes the limitations Mounds View has on TIF funding 231 and spending. She said Saint Anthony’s is much broader and she likes Mounds View’s 232 limitations. She stated she would like to maintain Mounds View’s limitations and asked the 233 EDC to review it. 234 235 Acting President Stigney stated he believes Mounds View’s policy is too broad and Saint 236 Anthony’s summary does a good job nailing it down. He responded to Mr. Glidden that some 237 problems come in with pre-1990 TIF districts. He stated that once the TIF money is paid on any 238 new projects, the TIF will be automatically closed out even if the district is kept open. He 239 clarified that pre-1990, all TIF districts were kept open to maximize the funding until the end of 240 the district. 241 242 Commissioner Flaherty stated that Mounds View is following their policy by implementing such 243 a review and pointed out Item 2 in the TIF policy. He stated the question is not whether Mounds 244 View is following its policy, but whether the policy needs to be tightened up. He stated Mounds 245 View is following its established policies. 246 247 Commissioner Thomas brought up that the EDA did not provide Director Ericson with specific 248 direction. Director Ericson asked if the EDA is interested in exploring option 2 (B). Acting 249 President Stigney stated he has always preferred Option B, and stated Staff should explore option 250 B closer. 251 252 Commissioner Thomas suggested the policy be run by the EDC for reformatting. Acting 253 President Stigney added that the priorities of the Planning Commission and the summary 254 language from Saint Anthony’s policy should also be considered. 255