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Strategic Plan Strategy/Goals <br />• Maintain a positive business climate where businesses want to locate and remain in <br />mounds view. Finance top redevelopment areas Industrial/Commercial/Residential. <br />;- Support the development of a variety of housing stocks that includes affordable and <br />market rate and the maintenance of properties. <br />➢ Continue supporting tax increment financing as an economic development tool <br />➢ Consider more town homes and affordable apartments and other housing options <br />➢ Ensure the attraction of affordable housing opportunities across all demographics <br />Financial Impact <br />$45,889,986 project ($28,700,000 minimum market value assessment) <br />$49,867 estimated in new taxes generated annually captured by TIF until note paid off <br />$20,000 estimated in Conduit Bond revenue to the City <br />$490,000 estimated to be paid to the City in park dedication fees <br />$366,983 estimated to be paid to the City/EDA in TIF Administrative fees through 20 years <br />Recommendation <br />Staff, and the City's legal & financial consultants recommend that the EDA review and consider <br />22-EDA-362, A Resolution Approving a Preliminary Development Agreement with <br />Reuter/Walton by the Mounds View EDA via a motion. <br />Respectfully submitted, <br />Brian Beeman <br />Assistant City Administrator <br />Attachment(s): <br />1) Resolution 22-EDA-362 <br />2) Preliminary Development Agreement with Reuter/Walton <br />3) Ehler's Financial Memorandum <br />4) Development & Landscape Concepts <br />The Mounds View Vision <br />A Thriving Desirable Community <br />