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• <br /> Staff Memo <br /> To: Economic Development Commission Members <br /> From: Cathy Bennett, Economic Development Coordinator <br /> Date: July 18, 1996 <br /> Subject: Review of Revised Draft Tax Increment Policy <br /> (5.A.) <br /> Attached is the revised tax increment policy that was discussed at the May 30th EDC <br /> meeting. <br /> The major changes are mostly included in the Analysis Form and include the following: <br /> 4. - Add Annual Salary <br /> • <br /> 5. - Add Total Taxes <br /> 6. - Include -2 (not contributing to tax base), +1 - +3 (Elimination of Blight), +1 (Target <br /> business) and add comment column for other subjective public benefits. <br /> 7. - I checked into Burnsville's intent of the service impact and negative values. Burnville <br /> has a policy to strive for head of household positions and believes the service industry is <br /> likely not to employ these positions. Also, they believed there is more of a drain on the <br /> police and fire services related to the addition of service sector operations verses <br /> manufacturing due to the higher exposure to the public. The EDC may want to either <br /> leave these in, remove or alter the point values based on what types of industries we <br /> anticipate coming to Mounds View through the redevelopment of Highway 10. <br /> 9. - Remove the BIPP program since there is a set of guidelines for eligibility within the <br /> specific program. <br /> 10. Add column to reflect staff recommended points, EDC recommended points and <br /> Comment area if these points differ. <br /> Minor additions were made to the Deposit Agreement. <br /> If this draft policy is acceptable the EDC may want to apply Everest's proposal as a test <br /> case prior to formal adoption. <br /> ATTACHMENT: DRAFT TIF POLICY, APPLICATION, ANALYSIS FORM, DEPOSIT AGREEMENT <br /> • <br />