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<br />," <br />, <br /> <br /> <br />NORTHLAND <br />STRATEGIES <br />Speolol Projects Grouj:;l <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 />TOI <br /> <br />Over the past several weeks, we have been working with City Staff to explore the needs ror strategic <br />financial planning for key capital i.lwestment, development and service issues facing Ramaey. Civen <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 crea.te mnoverall 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 eu'ld 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 TIP 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 hlnds (fund balances and 2009 revenues) can be spent on important public: <br />improvement and/or community development inJtiativeS. Use Ot the funds is controlled by State <br />Law and the TIF plans. Amendments to the plans may be needed to authorize the desired uaea. <br /> <br />2. These monies can be returned to the COU11ty as excess tax increment for distribution to taxing <br />jurisdictions. A portion of the total distribution will retum to the City, These monies are not <br />subject to any TIF-relatedspending restrictions. <br /> <br />3. One or all of these districts may be decertified in 2009 (prior to maximum date allowed by <br />statute). The tax capacity value in these districts would become part of the ge1'\eral tax base for <br /> <br />Northland Securltie~, Inc:, 45 South 7th Street, Sull~ :!DOO, M\.nrIeapolill, MN 55402 ToLl Pree 1-200-8S1.::!920 MalI\ 612-851-5900 <br />www:northland$llc:urltie5.c:om <br /> <br />Mllmoor PlNRA IInd SlPC <br /> <br />P3 <br />