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. . . Revised Policy incorporating city attorney's modifications ~ rA~!-IILLS "TCAAP PUBLIC FINANCING POLICY" 1. General Policv The purpose of this policy is to establish the City of Arden Hills position relating to the use of public financing, specifically for the Twin Cities Army Ammunition Plant (TCAAP) development. This policy is to be used as a guide in processing and reviewing applications requesting public financing, which is defined as any publicly generated source of project revenue assisting in making the TCAAP project economically viable. It is assumed that the principle form of public financing will be the use of tax increment as established by State law, based on this aforementioned assumption, several sections of this policy deals with the structure ofreviewing tax increment requests. In all cases, the fundamental purpose of public financing for the TCAAP project is to encourage redevelopment that would not otherwise occur without assistance_ This policy statement also addresses separately the issues associated with the City providing local governmental services to the TCAAP project and the need for these operational costs not to become a burden to the existing taxpayers. 2. City's Obiective for the Use of Public Financinl! As a matter of adopted policy, the City of Arden Hills will consider using Tax Increment Financing (TIF) and other forms of public financing to assist private development projects to achieve one or more of the following purposes: A Remove blight and/or encourage redevelopment in the TCAAP area per the goals and visions established by the City Council B. To achieve the following housing-related goal: I. To provide a balanced and sustainable housing stock to meet diverse needs both today and in the future. Page I of9