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08-15-07
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08-15-07
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i <br /> 7. TCAAP Local Public Services Needs <br /> A. An extensive City resource plan will be prepared to identify additional public <br /> services that will be needed for the TCAAP area. It should be anticipated that the <br /> cost of public services, within a period of 14 to 16 years, will exceed any <br /> additional general fund revenue that is created by this project until decertification <br /> of any TCAAP related tax increment district. The cost of these additional <br /> services shall be addressed as part of the City's business terms and the solution(s) <br /> to the same shall be addressed through the Master Development Agreement. In no <br /> shape or form shall the existing tax payers of the community be liable for TCAAP <br /> project area general operating expenditures. <br /> B. The City recognizes that all attempts will be made to prevent any additional tax <br /> burden on the community due to the TCAAP development. However, the TCAAP <br /> development should be viewed as containing many beneficial off-setting elements <br /> to the community such as assisting the City in providing alternative housing <br /> choices, recreational opportunities, reclaiming polluted property, providing an <br /> • additional identity for the community and serving as another economic catalyst to <br /> strengthen existing assets and to encourage additional <br /> development/redevelopment within the City. <br /> C. Strategies should be developed to ensure that some revenues generated from <br /> TCAAP can be used to assist other needs in the community, primarily in the areas <br /> of assisting other redevelopment efforts and recreational needs. In addition, the <br /> City shall seek collaborative efforts, e.g. with the Mounds View School District, <br /> in the development of the north primer tracer area (identified as "Potential <br /> Athletic Fields"in the City's Framework Vision.) The City will examine their <br /> existing park dedication fee structure to ensure that sufficient revenue is generated <br /> for the City's recreational needs identified in the TCAAP project, in addition to <br /> assisting in recapitalizing the City's existing park funds. <br /> F.',users'Janice`Jerry',Arden Hills`Tax Increment Financing Policy-2.doc <br /> • <br /> Page 8 of 8 <br /> \\Metro-inet.us\ardenhills\Admin\Committees\Economic Development Commission\TCAAP Public Financing <br /> Policy-Final.doc <br />
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