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EN HILLS <br /> • <br /> • • Economic development tools: TIF, Abatement, Bonds, Other Tools <br /> or doing nothing <br /> • Brief TIF discussion; facilitates the development, covers <br /> infrastructure <br /> • Municipal bonds have a lower level of risk than corporate bonds <br /> • Municipal constituents may include voters, taxpayers, other <br /> governmental entities, investors and more <br /> • Rating agencies: Moody's investors services, Standard and Poors, <br /> Fitch <br /> • Credit ratings: indicator of risk; not indicators of quality of life or <br /> status. High ratings don't always mean it is a high quality of life. <br /> • Rating factors include: operating performance, balance sheet, <br /> revenue stability and flexibility, expenditure control and flexibility, <br /> the economy <br /> • Long range financial plan is very important; use a 5-10 year <br /> benchmark to figure out next plan <br /> • B. Current CIP Plan <br /> Finance Director Iverson presented the current draft of the Capital Improvement <br /> Plan. She explained that this will be more refined as the budget process moves <br /> forward, but will not be finalized until December. <br /> C. Review of information that staff is still gathering <br /> A copy of the rating agency report was provided for each committee member in <br /> their packet. Copies of reports run from the State Auditor's website were <br /> discussed. These reports were run with data provided to the OSA through the <br /> reporting process. Finance Director Iverson explained the reports and cautioned <br /> the committee that not all entities classify expenditures and groupings the same <br /> way. The reports run compared Arden Hills to neighboring communities and also <br /> Arden Hill's history from 1995 through 2005. In total Tax Capacity, the City <br /> ranked 26 out of 218 which was a positive, on total expenditures the City ranked <br /> 205 out of 218 which is also positive as they are lower than 204 communities and <br /> higher than 13 communities. These are just meant to be a quick comparison, <br /> any detailed comparisons need further research as not all information is reported <br /> 41 the same from city to city. <br /> City of Arden Hills <br />