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<br />. <br />, <br />, <br /> <br /> <br />NORTHLAND <br />STRATEGIES <br />Special Projects Group <br /> <br />MEMORANDUM <br /> <br />From: <br />Date: <br />Re: <br /> <br />Kurt Ulrich <br />Diana Lund <br />Sean Sullivan <br />Heidi Nelson <br />Brian Olson <br />Amber Miller <br /> <br />Paul Donna and Rusty Fifield <br /> <br />June 19, 2009 <br /> <br />Strategic Financial Planning <br /> <br />to: <br /> <br />Over the past several weeks, we have been working with City Staff to explore the needs for strategic <br />financial planning for key capital investment, development and service issues facing Ramsey. Given <br />the nature of these issues, we do not believe that proper approach to address these issues is a <br />singular financial planning "project". Instead, we propose a series of investigations that create the <br />information and direction needed to cres.te an overall financial plan for the City. <br /> <br />This memo describes proposed approach, consulting services and budget for these investigations <br />projects. We welcome your input on changes to the proposed work plans and budget to allow us to. <br />better meet your needs. <br /> <br />TIF Districts <br /> <br />Overview <br /> <br />The City faces important decisions about existing pre-1990 TIF districts. The focus of thiS project is <br />districts 1, 2 and 4. These districts offer several different strategies for providing financial benefit to <br />the City: <br /> <br />1. Existing funds (fund balances and 2009 revenues) can be spent on important public <br />improvement and/or community development initiatives. Use of the funds is controlled by State <br />Law and the TIF plans. Amendments to the plans may be needed to authorize the desired uses. <br /> <br />2. These monies can be returned to thE: County as excess tax increment for distribution to taxing <br />jurisdictions. A portion of the total distribution will return to the City. These monies are not <br />subject to any TIF~related spending restrictions. <br /> <br />3. One ot all of theBe districts may be decertified in 2009 (prior to maximum datI:! allowed by <br />statute). The tax capacity value in these districts would become part of the ger\eral tax base for <br /> <br />Northland Securities, me:. 45 South 7th Street, Sult(, 2000, Minneapolis, MN 55402 'roll Free 1.200.851.2920 Main 612.S51.59d{1 <br />www.northlandsecurltles.com <br /> <br />Menl00r FINRA and SIPC <br />