Laserfiche WebLink
<br />City's business terms and the solution(s) to the same shall be addressed through the . <br />Master Development Agreement. Tn no shape or form shall the existing tax payers of the <br />community be liable for TCAAP project area general operating expenditures. <br /> <br />2B. The City recognizes that all attempts will be made to prevent any additional tax burden <br />on the community due to the TCAAP development. However, the TCAAP development <br />should be viewed as containing many beneficial off-setting elements to the community <br />such as assisting the City in providing alternative housing choices, recreational <br />opportunities, reclaiming polluted property, providing an additional identity for the <br />community and serving as another economic catalyst to strengthen existing assets and to <br />encourage additional development/redevelopment within the City. <br /> <br />3B. <br /> <br />Strategies should be developed to ensure that some revenues generated from the TCAAP <br />can be used to assist other needs in the community, primarily in the areas of assisting <br />other redevelopment efforts and recreational needs. In addition, the City shall seek <br />collaborative efforts, e.g. with the Mounds View School District, in the development <br />of the north primer tracer area (identified as "Potential Athletic Fields" in the <br />City's Framework Vision.) The City will examine their existing park dedication fee <br />structure to ensure that sufficient revenue is generated for the City's recreational needs <br />identified in the TCAAP project, in addition to assisting in recapitalizing the City's <br />existing park fUIlds. <br /> <br />. <br /> <br />. <br /> <br />Page 9 of9 <br />\\Earth\Admin\Committees\Economic Development Commission\Tax Increment Financing Policy - Copy with <br />Council and EDC Strikeouts and Bold Text.doc <br />