2003-09-16C]
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MOUND HOUSING AND REDEVELOPMENT AUTHORITY
September 16, 2003
7:00 P.M.
1.
2
OPEN MEETING
DISCUSSION ON MHR GAP FINANCING AND OTHER RELATED
POINTS
3. ADJOiJRN
r~
•
Strategies and Options to Meet MHR Funding Gap
•
Ci Fee Reductions/Elimination
• City Reduces or Waives Sewer Trunk Area Charge (STAG)
• Ci Reduces or Waives Water Trunk Area Char e WTAC
• Park Dedication Fee -off-set b some land contribution and streetsca e
• TIF Adlnin Fee from 5% to 2.5%
Ci Contributions -Financial and In-Kind
• Cit Land Contribution
• City Assists in Financing by Issuing 2,000,000 G.O. Debt on a parity basis [every
$1,000,000 in Tax Exem t G.O. saves $ 250,000 (6.75% to 4.25%
• Additional Dred 'n under Ci Permit
• Other Ci Fundin Sources -- Utilit funds, General fund, etc.
Ci Partici ation in Public Im rovement Costs
• Ci rovides Lan don Lake arkin deck
• Consider Reductions in the Extent of 5treetsca e Desi
• Assessments Levied a ainst Commercial Pro ert for Im rovements
• Utili RelocationB 'n Costs
Ci &Develo er -Items to Ensure Shared Success
• Grants (State, Metro olitan Council, Count )
• Environmental Remediation
• Cit limits develo er's risk -Develo er Lowers Contin enc from 15% to 10%
• Ad'ust Timin and Se uence of Phases Lost Lake & South 110 need to o first
• Substitution of roduct es e.. Commercial to Residential
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