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July 7, 2004 <br />Page 2 <br /> <br />Materials Attached: <br /> <br />At the risk of overwhelming the Planning Commission with too much information, I’ve <br />attached two publications from the Office of the State Auditor (OSA), the agency charged <br />with TIF oversight and compliance. In addition, an article dated August 19, 2001 from the <br />Star Tribune is included, as is a short article from the MN House of Representatives <br />concerning redevelopment districts. Last, I have attached a map of the City which indicates <br />the locations of the City’s three TIF Districts. While the TIF districts comprise very little of the <br />City’s area, the dollars generated from these three districts can be spent anywhere in the <br />City so long as they are TIF eligible expenses. <br /> <br />Uses in Mounds View <br /> <br />In Mounds View, the City has used TIF to foster development and redevelopment. From a <br />large scale perspective, TIF helped establish the Mounds View Business Park and TIF notes <br />were authorized for a variety of developments such as Sysco, Building N, CG Hill, Silver <br />Lake Pointe, The Mermaid, ZEP Manufacturing and Multi-Tech. Limited business subsidies <br />have been approved on a case-by-case basis; most recently for demolition assistance <br />associated with the former Amoco Gas Station and before that the former Perkins <br />Restaurant building. TIF dollars have been used to fund various redevelopment studies such <br />as the Highway 10 Redevelopment and Revitalization plan and smaller projects such as the <br />Remodeling Planbooks. TIF dollars support the Housing Replacement Program and also a <br />Business Improvement Loan program. TIF dollars are also used to offset some personnel <br />and administrative costs incurred by the City and EDA and cover the contracts with the TIF <br />advisor and attorney. (This list is of course not meant to be exhaustive, simply a summary of <br />the uses of TIF in Mounds View.) <br /> <br />Recommendation: <br /> <br />If the Commission has an interest in learning more about TIF as a redevelopment tool, and <br />its specific use in Mounds View, Aaron Backman, the City’s Economic Development <br />Coordinator, and I can provide you with additional information. <br /> <br /> <br /> <br />_____________________________________ <br />James Ericson <br />Community Development Director <br /> <br />Attachments: <br />1. Tax Increment Financing: A Discussion with the State Auditor’s Office (Oct 2003) <br />2. Tax Increment Financing Report (May 1, 2003) <br />3. The Other Side of TIF -- Star Tribune (August 21, 2001) <br />4. TIF Redevelopment Districts – House Research Brief (Oct 2003) <br />5. Mounds View TIF District Map