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Mounds View Planning Commission <br />August 2, 2000 <br />Regular Meeting Page 2 <br /> <br />3. Citizen’s Requests and Comments on Items Not on the Agenda <br /> <br />There were no citizen requests or comments on items not on the agenda. <br /> <br />4. Approval of Minutes <br /> <br /> A. June 21, 2000 <br /> <br />MOTION/SECOND: Miller/Berke to approve the June 21, 2000 meeting minutes as corrected <br /> <br /> Ayes – 8 Nays - 0 Motion carried. <br /> <br /> <br />5. Discussion and Consideration of Resolution 627-00, a Resolution Concerning the <br />Mounds View Economic Development Authority’s Economic Development Project and <br />Tax Increment Financing Proposals. (Aaron Parrish, Economic Development <br />Coordinator) <br /> <br /> <br />Economic Development Coordinator Parrish gave the staff report as follows: <br /> <br />Dan Hall, representing The Mermaid, is requesting the use of tax increment financing to <br />construct a 97-room hotel and a 500-seat banquet center to be attached to and integrated with the <br />existing complex. <br /> <br />In accordance with the Economic Development Authority’s Tax Increment Finance Policy, the <br />applicant has submitted an application requesting TIF assistance. This application was <br />considered at the May 25th meeting of the Economic Development Authority and preliminary <br />approval was given to the application. <br /> <br />At the June 5th Council Work Session, staff was instructed to prepare and negotiate the <br />appropriate documents for consideration by the EDA at a later date. One of the documents <br />necessary when using tax increment financing is a ‘TIF Plan.’ As part of the process of <br />amending TIF Plans, it is required that the Planning Commission review the plans to determine <br />their consistency with the Comprehensive Plan of the City. On a general level, TIF Plans serve <br />to broadly articulate goals and objectives for the TIF district. The TIF Plan also includes a <br />budget for the expenditure of TIF funds generated as a result of the project. <br /> <br />Economic Development Coordinator Parrish noted that a copy of the TIF Plan modification and <br />Resolution 627-00 Concerning the Mounds View Economic Development Authority’s Economic <br />Development Project and Tax Increment Financing Proposals has been provided for the <br />Commission’s consideration. <br />. <br /> <br /> <br />