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City of Mounds View Comprehensive Plan <br />________________________________________________________________________ <br /> <br /> <br /> <br />92 <br />RESOURCES TO SUPPORT ECONOMIC <br />DEVELOPMENT <br /> <br />Resources to support economic development can be defined as any facts, programs or circumstances <br />that enhance Mounds View’s ability to attract new businesses, retain and expand existing businesses, <br />or assist in the preservation of a vibrant, diverse local economy. Such resources currently include <br />the following: <br /> <br />• Close proximity to Interstate 35-W, allowing relatively quick and easy access to the <br />downtown areas of Minneapolis and St. Paul, and to other portions of the Twin Cities <br />metropolitan area. <br /> <br />• Good internal traffic circulation. <br /> <br />• Successful, attractive business parks. <br /> <br />• Visible evidence of new commercial activity, storefront improvements, remodeling, and <br />other indications of local economic health. <br /> <br />• Ongoing efforts to enhance the appearance of, and to better coordinate planning for the <br />further development of, the County Highway 10 corridor and the community at large. <br /> <br />• Local business owners who are interested in expanding their operations and improving the <br />appearance of their properties. <br /> <br />• The potential availability of City assistance for appropriate development or redevelopment <br />projects. <br />o Tax increment financing is a type of assistance that has been provided by the City in the <br />past, and City-assisted funding for cosmetic and operational improvements has been <br />provided through the Business Improvement Partnership Loan program. <br /> <br />o These types of City assistance have been, and will continue to be, provided in a manner <br />consistent with the City’s written policies regarding such assistance, and will generally <br />be limited to situations in which their use will enable the City to attract a new business, <br />retain or expand an existing business, provide new employment opportunities, enhance <br />the City’s tax base, or otherwise improve the appearance or vitality of the local business <br />economy. <br /> <br />o The City will continually monitor and periodically evaluate its programs and policies <br />regarding development and redevelopment assistance in order to make certain that they <br />are helping the City meet its economic development goals, priorities and objectives.