Laserfiche WebLink
Item No. 8C <br />Meeting Date: July 23, 2001 <br />Type of Business: EDA <br />WK: Work Session; PH: Public Hearing; <br />CA: Consent Agenda; EDA: EDA Business <br /> <br /> <br />City of Mounds View Staff Report <br />To: President and Members of the Economic Development Authority <br />From: Aaron Parrish, Economic Development Coordinator <br />Item Title/Subject: Cash Flow Analysis for TIF Districts 1-3 <br />Date of Report: July 17, 2001 <br /> <br />Background <br /> <br />Given the recent legislative changes, staff thought it would be appropriate to have a cash <br />flow analysis of the three existing TIF Districts conducted. Based on current assumptions, <br />the cash flow analysis will provide insight into the districts’ capacity to generate revenue <br />until they decertify. <br /> <br />This analysis is also particularly important for evaluating potential financing sources for <br />Highway 10 Reconstruction and Revitalization plan implementation. As Council may be <br />aware, Ramsey County has indicated that a preliminary plan and financing package must <br />be in place by December if the City wishes to utilize the 1.2 million dollars in “Turn Back” <br />funds for the project. <br /> <br />Staff has contacted the EDA’s designated financial advisor Ehler’s and Associates to <br />see how much it would cost to conduct the cash flow analysis. They indicated it would <br />take approximately 8-10 hours at $135 per hour. This translates into approximately <br />$1080 to $1350. While the use of consultants for a project such as this is a budgeted <br />item within the EDA Special Revenue Fund Budget, staff wanted to solicit input and <br />comments from the EDA prior to proceeding. <br /> <br />Necessary Actions <br /> <br />No action required <br /> <br /> ______________________________________ <br />Aaron Parrish, Economic Development Coordinator <br />(763) 717-4029 <br />