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Tax increment financing and other available forms of assistance will continue to be <br /> • used by the City, where and when it is appropriate to do so. City financial <br /> assistance will generally be limited to situations in which its use will enable the City /' <br /> to attract a new business, retain or expand an existing business, provide new / <br /> employment opportunities, enhance the City's tax base, or otherwise improve the Ak <br /> •p e. ance or vitality of the local business economy_ Tax increment financing will <br /> figic ntinue to be used in a manner consistent with the City's TIF Policy, which <br /> • be amended from time to time to reflect changes in the local economy and/or <br /> the public assistance philosophies of the members of the City Council and/or the <br /> Economic Development Authority. <br /> 3. ECONOMIC DEVELOPMENT CHALLENGES <br /> The effectiveness of local economic development can be enhanced by continuously <br /> assessing, and attempting to address, any circumstances that might negatively <br /> impact the local business climate. Such circumstances include those that might: <br /> • a. make a developer or business owner less inclined to <br /> establish a new business in Mounds View; or <br /> b. make a developer or business owner less inclined to relocate an <br /> existing business to Mounds View; or <br /> c. make an existing Mounds View business less inclined to <br /> expand its operation in Mounds View; or <br /> d. makean existing Mounds View business consider moving its <br /> operation to another community; or <br /> e. adversely affect, in some other way, the ability of an existing <br /> Mounds_View_business__to_achie_ve_economic success. <br /> The preceding circumstances are, to varying degrees, mitigated by the presence of <br /> financial and other incentives that encourage or allow economic development. <br /> Successful economic development will continue to require the careful monitoring of <br /> these existing and developing challenges so that realistic and timely efforts can be <br /> made to emphasize Mounds View's many positive attributes in order to effectively <br /> minimize or counteract negative perceptions or circumstances. The following table <br /> outlines Mounds View's future plans in this regard: <br /> • <br /> 3 <br />