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City of Mounds View Comprehensive Plan RESOURCES TO SUPPORT ECONOMIC DEVELOPMENT Resources to support economic development can be defined as any facts,programs or circumstances that enhance Mounds View's ability to attract new businesses,retain and expand existing businesses, or assist in the preservation of a vibrant, diverse local economy. Such resources currently include the following: ! Close proximity to Interstate 35-W, allowing relatively quick and easy access to the downtown areas of Minneapolis and St. Paul, and to other portions of the Twin Cities metropolitan area. ! Good internal traffic circulation. ! Successful, attractive business parks. ! Visible evidence of new commercial activity, storefront improvements, remodeling, and other indications of local economic health. ! Ongoing efforts to enhance the appearance of, and to better coordinate planning for the further development of, the County Highway 10 corridor and the community at large. ! Local business owners who are interested in expanding their operations and improving the appearance of their properties. ! The potential availability of City assistance for appropriate development or redevelopment projects. X Tax increment financing is a type of assistance that has been provided by the City in the past, and City-assisted funding for cosmetic and operational improvements has been provided through the Business Improvement Partnership Loan program. X These types of City assistance have been, and will continue to be, provided in a manner consistent with the City's written policies regarding such assistance,and will generally be limited to situations in which their use will enable the City to attract a new business, retain or expand an existing business, provide new employment opportunities, enhance the City's tax base, or otherwise improve the appearance or vitality of the local business economy. 91