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<br />Item No: 07A <br />Meeting Date: March 12, 2018 <br />Type of Business: EDA Business <br /> <br />City of Mounds View Staff Report <br />To: Economic Development Authority <br />From: Brian Beeman, Business Development Coordinator <br />Item Title/Subject: Resolution 18-EDA-308 A Resolution Adopting a Modification to the <br />Redevelopment Plan for the Mounds View Economic Development <br />Project, Establishing Tax Increment Financing District no. 1-6 therein, <br />and Adopting a Tax Increment Financing Plan <br /> <br />Background: <br /> <br />MWF Properties is proposing to construct a 60 unit workforce housing project on four parcels near <br />Groveland Road and Mounds View Boulevard. MWF is asking for Tax Increment Financing (TIF) for <br />the project. A resolution approving the modification to the project plan for and the establishment of <br />TIF District No. 1-6 is required. <br /> <br />Discussion: <br /> <br />The City of Mounds View City is cooperating with MWF Properties to create a TIF district for their 60 <br />unit workforce housing project. As part of this process, a resolution approving the modification to the <br />redevelopment project plan for the establishment of TIF District No. 1-6 is required. The Council will <br />discuss this matter at their March 12, 2018 City Council Worksession. The City Council will consider <br />a similar resolution at its March 12, 2018 meeting. <br /> <br />Recommendation: <br /> <br />Staff recommends the Authority consider approval of Resolution 18-EDA-308 by motion. <br /> <br /> <br />Respectfully submitted, <br /> __________________________ <br />Brian Beeman <br /> <br />Attachments: <br />1) 18-EDA-308 A Resolution Approving the Modification to the Project Plan for and the <br />Establishment of Tax Increment Financing District No. 1-6 <br />2) TIF District No. 1-6 Overview <br />3) Modification to the Redevelopment Plan for the Mounds View Economic Development <br />Project and the TIF Plan for the Establishment of TIF District No. 1-6 (a housing district) <br />Within the Mounds View Economic Development Project <br />