Laserfiche WebLink
<br />Item No. 8 <br />Meeting Date: October 2nd, 2000 <br />Type of Business: WK <br />WK: Work Session; PH: Public Hearing; <br />CA: Consent Agenda; EDA: EDA Business <br /> <br />City of Mounds View Staff Report <br />To: Mounds View Mayor and City Council <br />From: Aaron Parrish, Economic Development Coordinator <br />Item Title/Subject: EDC TIF Discretionary Fund Use Recommendation <br />Date of Report: September 28, 2000 <br /> <br />Background: <br /> <br />The recently adopted TIF Policy requires the following: <br /> <br />“To more effectively utilize pooled increment, the Economic Development Commission will <br />recommend funding priorities to the Economic Development Authority. This will be done in <br />conjunction with the annual budgetary process.” <br /> <br />At their September meeting, the EDC reviewed the EDA Special Revenue fund. More specifically, <br />they recommended the following allocations for discretionary items such as capital/real estate and <br />business loans: <br /> <br />Account Description Program Proposed <br />Expenditure <br />7050 Capital / Real Estate Highway 10 Construction Improvements $50,000 <br />7050 Capital / Real Estate Housing Rehab Program $160,000 <br />7060 Business Loans Business Improvement Partnership Loans $25,000 <br />TOTAL $235,000 <br /> <br />The above recommendation does not differ from the proposed expenditures contained within the <br />preliminary budget currently being considered by the Council. <br /> <br />Necessary Actions: <br /> <br />Discuss the EDC’s recommendation <br /> <br />______________________________________ <br />Aaron Parrish, Economic Development Coordinator <br />(763) 717-4029