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4 • A. To retain local jobs and/or increase the number and diversity of jobs that offer stable employment and/or attractive wages and benefits. • B. To enhance and diversify the City of Mounds View’s economic base and to increase the tax base. • C. To remove blight and/or encourage redevelopment of commercial, and industrial To encourage the removal of blight or the rehabilitation of a high profile, or high priority sites areas in the city that result in high quality redevelopment and private reinvestment. • D. To facilitate the development process and to achieve development on sites which would not be developed without TRF assistance. • E. To encourage the revitalization and redevelopment of the County Highway 10 Corridor. • F. To encourage additional unsubsidized private development in the area, either directly or indirectly through “spin off” development. • G. To offset increased costs of redevelopment (i.e. contaminated site clean- up, demolition expenses etc. . .) over and above the costs normally incurred in development. • H. To create housing opportunities. • I. To finance the costs associated with public infrastructure and public facilities. • J. To contribute to the implementation of other public policies, as adopted by the EDA from time to time, such as the promotion of quality architectural design, enhanced recreational opportunities, and decreasing capital and/or operating costs of local government. IV. POLICIES FOR THE USE OF TAX ABATEMENT TRF A. Tax abatement rebate assistance will be provided to the developer upon receipt of taxes by the EDA, otherwise referred to as the pay-as-you-go method. Requests for up-front financing will be considered on a case-by-case basis. B. It is the intent of the EDA to provide the minimum tax rebate financing, as well as other incentives, at the shortest term required for the project to proceed. Item 06A M.V. Tax Rebate Policy 7.18.03 Draft.doc