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Community Assets & <br /> Development Department <br /> <br /> MEMORANDUM <br /> <br /> <br />DATE: August 31, 2017 <br /> <br />TO: Economic Development Commission <br /> <br />FROM: Janice Gundlach, Asst. Director of Community Assets & Development/Planning Director <br /> <br />SUBJECT: TIF Management Plan Update <br /> <br />In July of this year, the City’s public finance consultant Ehler’s completed an update to the City’s Tax <br />Increment Financing (TIF) Management Plan. This document is a comprehensive review of all the City’s <br />TIF districts and their overall financial health. As has become customary over the last few years, staff has <br />arranged for Ehler’s to attend September’s meeting to walk Commissioners through the Executive <br />Summary of the plan and answer any questions the Commission may have. The City’s Finance Director <br />will also attend to aid in the discussion. <br /> <br />Please note the New Brighton Exchange Financial Dashboard, a more comprehensive financial summary <br />that tracks TIF performance and interfund loans to New Brighton Exchange, was not updated. Because <br />New Brighton Exchange is performing well and generating enough increment to repay external debt, there <br />wasn’t a need to incur the expense to update this tool at this time. If any major changes in New Brighton <br />Exchange necessitated a need to update that document, it would be done at that time and discussed with <br />the EDC. <br /> <br />Because there are new members to the Commission, Ehler’s will begin the discussion with a brief overview <br />of TIF, then will move through the Executive Summary of the 132-page plan. Jason Aarsvold with Ehler’s <br />will lead this discussion. <br /> <br />The Executive Summary is attached. <br /> <br /> <br />