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<br />Strategic Financial Planning <br />June 19, 2009 <br />Page 2 <br /> <br />taxes payable in 2010. 1his value would help to offset the decline in total tax capacity value from <br />other factors. <br /> <br />4. The City could keep districts in place for the maximum allowable term (#1 - 2011, #2 - 2013, #4- <br />2014). The City would collect additional tax increment revenues for use on eligible public <br />improvement and community development projects. <br /> <br />Approach <br /> <br />We view this project as collaboration between City Staff and Northland. Staff has 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 TIP 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 summary memorandum that describes options and actions required for implementation. <br /> <br />5. Facilitate Council work session to review memorandum and reach decision on preferred <br />strategy. <br /> <br />1his work would occur in July and August to facilitate budget and tax levy planning for 2010. <br /> <br />Budget <br /> <br />All work described in this memo will be billed at a rate of $160/hour plus direct expenses for mileage <br />and any direct expense incurred by Northland in performing these tasks. (The City will not be billed <br />for time spent in travel from our offices to Ramsey.) <br /> <br />Northland will perform the tasks described above for a cost not to exceed $3,200. <br /> <br />Town Center Finance Plan <br /> <br />The acquisition of Ramsey Town Center (RTC) property by the City creates the need for a <br />comprehensive finance plan related to the future development of the property. We view this project <br />as the continuation 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 />financial decision making. <br /> <br />. Determining the additional public improvements to be made in the RTC area. <br /> <br />. Building on existing financial analysis to create a comprehensive financial model that guides <br />decision making on the sale of land. <br /> <br />. Facilitating a decision making process that creates a common understanding of the issues and <br />reaches agreement on key policy guidelines related to future improvements and the sale of land. <br />