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2 <br />sidewalks, and parking facilities, financing interest, and administration. Administration is <br />broadly defined to be any cost of the EDA not related to qualifying project costs. This can <br />include the preparation of the development plan, advertising, legal, eminent domain, etc. The <br />City of Mounds View has used TIF resources for land acquisition, demolition, utilities, parking <br />lots, bike paths, roads, interest costs, legal and administrative costs. The most recently <br />approved TIF use was for the demolition of the former Perkins restaurant building. Up to this <br />point the City has not relocated homes or businesses due to redevelopment projects. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Demolition of former Perkins Restaurant (11/02) <br /> <br /> <br /> Construction of Highway 10 Business Center (1/03) <br /> <br /> <br />What are not permissible uses of TIF by the City? In general, building amenities and <br />equipment are not fundable. Management of facilities or the use of TIF for operations is not <br />appropriate. Tax increments may not be used for acquisition, construction, renovation or <br />operation of government or school district facilities. Since July 2001, no tax increment from <br />any district may be used for public parks, community centers or recreational facilities. The <br />City of Mounds View has in the past has spent significant TIF resources to develop the <br />Mounds View Community Center. Any expansion of the MVCC would now have to be funded <br />with non-TIF dollars. <br /> <br />TIF reports are filed with the Office of the State Auditor (OSA) annually. OSA reviews the <br />City’s expenditures to ensure compliance with statutory requirements. <br /> ______________________________________ <br />Aaron Backman, Economic Development Coordinator <br />(763) 717-4029 <br /> <br /> <br />\\Ntserver\MasterFiles\2003\EDA\EDA Packets\01-27-03\Item 07A Discussion on teh Use of Tax Increment Financing