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<br />. <br /> <br />. <br /> <br />. <br /> <br />~ <br />~ILLS <br /> <br />CITY OF ARDEN HILLS <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. OS-XX <br /> <br />RESOLUTION ADOPTING "TCAAP PUBLIC FINANCING POLICY <br />RECOMMENDATION DATED 2005 <br /> <br />WHEREAS, on October 25,2004 the City Council of Arden Hills entered into an <br />"Interim Agreement Amendment No. I Extension of Term" with CRR, LLC, and <br /> <br />WHEREAS, a provision of the extension ofthe terms ofthe agreement was to have the <br />City's "Economic Development Commission to determine if the development ofthc AH Re-Use <br />Area requires economic development assistance, and if so, how the City's participation would <br />impact the City as a whole__." <br /> <br />WHEREAS, in anticipation of affirming the Interim Agreement Amendment No. I, on <br />October 12, 2004, the City Arden Hills City Council directed the Economic Development <br />Commission to study the general question of, " Does the TCAAP project need economic <br />development assistance and what types of issues does this present to the City as a whole," and <br /> <br />WHEREAS, the Economic Development Commission accelerated its study time to assist <br />the City's goals of negotiating with the GSAlArmy in the early transfer process for the TCAAP <br />property, and <br /> <br />WHEREAS, the Economic Development Commission met eight times to study this <br />issue, and <br /> <br />WHEREAS, the Economic Development Commission had a series of educational and <br />orientation meetings on public financing and review of actual redevelopment projects, and <br /> <br />WHEREAS, these meetings included discussions on public financing with the City's <br />financial representatives, Ehlers and Associates; redevelopment discussions with representatives <br />from Bumsville and St. Anthony, including elected officials and <br /> <br />WHEREAS, after these discussions and additional public financing information <br />provided through staff, the Economic Development Commission held extensive discussions on <br />public financing, including specific and detailed review of tax increment, and <br /> <br />WHEREAS, a central theme of these discussions is if public financing is needed how <br />will financing be arranged so it will not affect existing Arden Hills tax payers, and <br /> <br />WHEREAS, the Economic Development Commission also identified the need to <br />construct a local service resource plan before completing any final agreements with the <br />Army/developer, and <br />