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<br />~ <br /> <br /> <br />MEMORANDUM <br /> <br />DATE: <br /> <br />November 24, 2008 <br /> <br />SUBJECT: <br /> <br />Mayor and City Council r ~ <br /> <br />Ron Moorse, City Administrato:tl 1 <br /> <br />Special Legislation Regarding Tax Increment Financing to Facilitate the <br />Redevelopment of the TCAAP Property <br /> <br />TO: <br /> <br />FROM: <br /> <br />Backerollnd <br />The State Statutes regarding tax increment financing create several difficulties for the use of tax <br />increment financing in large-scale, multi-phase redevelopment efforts, such as TCAAP. Council <br />has reviewed and discussed proposed special legislation that would resolve these difficulties for <br />the.TCAAP redevelopment. An outline of the proposed special legislation is attached for <br />Council approval ' <br /> <br />Council Action ReQuested <br />Motion to approve the attached outline of the proposed special legislation related to the use of <br />tax increment financing for the TCAAP redevelopment. <br /> <br />\ \Metro,; inet\ardenhills\Admin \City Administrator\General documents\RCA's\agenda Memo _ special legislation 11-24-08 .doc <br />