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• <br /> -AR EN HILLS <br /> MEMORANDUM <br /> DATE: August 1, 2012 EDC Agenda Item 4.B <br /> TO: Economic Development Commission Chair and Commissioners <br /> FROM: Jill Hutmacher, Community Development Director 2 <br /> SUBJECT: TIF Policy <br /> The City Council has approved a proposal by Ehlers & Associates to develop a tax increment <br /> financing(TIF)policy that will assist the City in determining how and when to provide TIF. The <br /> policy development work will include the following tasks: <br /> 1. Review the TIF White Paper and make recommendations on a maximum tax capacity <br /> to be captured by City TIF districts as a percentage of total tax capacity; <br /> 2. Review policy considerations for projects to be assisted and make recommendations <br /> to meet current and anticipated redevelopment needs of the City; <br /> 3. Create a matrix for ranking or scoring TIF applications to determine which are <br /> eligible for further City Council consideration; <br /> 4. Review TIF policy to verify that it provides clear understanding to the development <br /> community as to the requirements needed to be met to be considered for TIF <br /> assistance; and <br /> 5. Review TIF application and recommend updates based on outcomes of tasks <br /> described above. <br /> Aligning the TIF Policy to the City's development vision and goals will enable the City to <br /> clearly communicate its expectations to the development community. The TIF project is <br /> expected to be completed in the fourth quarter. <br /> • City of Arden Hills <br /> Economic Development Commission August 1, 2012 <br /> Page 1 of 1 <br />