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<br />Strategic Financial Planning <br />]Ul'IC 19, 2009 <br />Page 2 <br /> <br />taxes payable.in 2010. This value would help to offset the dec:1ine in total tax capilc:it)/ value from <br />other factors. . <br /> <br />4. The City could keep c:1.istricts in place for the maximum allowable term (#1 .2011, #2 - 2013/ #4- <br />2014). The City wouldcoUectldciitionaltax increment revenues for use ot'I eligible public: <br />improvement and community development projects. <br /> <br />ApproC/c:h <br /> <br />We view this project as collaboration between City Staff and Northland. Stalfhas already done <br />preliminary investigations of these issues and has the capacity to conduct all analysis of these <br />alternatives. We propose that Northland support City Staff with the following tasks: <br /> <br />1. Work with Staff via phone and email to determine the information needed to evaluate the <br />alternative strategies for these TIF districts. <br /> <br />2. Review and comment on analysis performed by City, <br /> <br />3. Meet with Staff to review analysis and determine options for Council consideration. <br /> <br />4. Prepare summa.ry memorandum that describes options and actions required for implementation. <br /> <br />5. Facilitate Council work session to review memorandum ancireach decision on preferred <br />strategy. <br /> <br />This work would occur in July and A\.lgust to facilitate b\.ldget 2l1'\d tax levy planning for 2010. <br /> <br />Budget <br /> <br />All work d,escrlbed in this memo will be billed at a rate of $160/hour plus direct expel'\ses for mill:!age <br />and any direct expense u'\curred b)1 Northland in performing these tasks, (The City will not be billed <br />for time spent in travel from our of.fices to Ramsey.) <br /> <br />Northland will perform the tasks described above for a cost not to exceed $3/200. <br /> <br />TownCenter Finance Plan <br /> <br />The acquisition of Ramsey To\-\'1'\ Center (RTC) propert)' by the City creates the need for a <br />comprehensive finance plan related to the future development ofthe property. We view this project <br />as the cOl'\tinuation of past planning for RTC focusing on the following objectives: <br /> <br />. Creating a clear and complete understanding of existing commitments and obligations that affect <br />financia.l decision making. <br /> <br />. Determining the additional public ii.nprovements to be rnelde in the RTC area. <br /> <br />. Bul1ding on existing financial analysis to create a comprehensive flna.ncial model that guides <br />decision making on the sa.le of la.nd. <br /> <br />. Fac:illtath'\g a decisioT'l making process that creates a COl'l.'U'non understanding of the issues al'\d <br />reaches agreement on ke)' policy guidelines related to future improvemel'tts and the sale of ll:md. <br /> <br />P4 <br />