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<br />%- <br />~ILLS <br /> <br />ECONOMIC DEVELOPMENT COMMISSION RESOLUTION AFFIRMING TCAAP <br />PUBLIC FINANCING RECOMMENDATIONS <br /> <br />. <br /> <br />WHEREAS, on October 12, 2004, the City Arden Hills City Council directed the Economic <br />Development Commission to study the general question of, " Does the TCAAP project need <br />economic development assistance and what types of issues does this present to the City as a <br />whole," and <br /> <br />WHEREAS, the Economic Development Commission accelerated its study time to assist the <br />City's goals of negotiating with the GSN Army in the early transfer process for the TCAAP <br />property, and <br /> <br />WHEREAS, the Economic Development Commission met eight times to study this 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 financial <br />representatives, Ehlers and Associates; redevelopment discussions with representatives from <br />Burnsville and St. Anthony, including elected officials and <br /> <br />WHEREAS, after these discussions and additional public financing information provided <br />through staff, the Economic Development Commission held extensive discussions on public <br />financing, including specific and detailed review of tax increment, and <br /> <br />. <br /> <br />WHEREAS, a central theme of these discussions is if public financing is needed how will <br />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 construct a <br />local service resource plan before completing any final agreements with the Army/developer, <br />and <br /> <br />WHEREAS, the Economic Development Commission concluded that as evidenced by other <br />major Twin Cities redevelopment projects that it is a reasonable assumption that public financing <br />will be needed to construct the TCAAP project as illustrated in the most current version ofthe <br />TCAAP Framework Vision; <br /> <br />NOW THEREFORE BE IT RESOLVED, The City of Arden Hills Economic Development <br />Commission herby adopts and recommends the policies contained therein, of the report entitled, <br />"TCAAP Public Financing Policy Recommendations," dated February 15, 2005. <br /> <br />Resolution adopted on a vote of 7 to O. <br /> <br />Attest: <br /> <br />. <br /> <br />Bruce Kunkel, Economic Development Commission Chair <br /> <br />\\Earth\Plannrng\Misc Files\EDC\Economlc Development Commission Resolution Affirming TCAAP Public Financing: Recommendations.doc <br />