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MEMORANDUM <br />To: Kurt Ulrich <br />Diana Lund <br />Sean Sullivan <br />Heidi Nelson <br />Brian Olson <br />Amber Miller <br />From: Paul Donna and Rusty Fifield <br />Date: June 19, 2009 <br />Re: Strategic Financial Planning <br />NORTHLAND <br />STRATEGIES <br />Special Projec'fs Group - <br />n t��`�� Ar <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 create an overall financial plan for the City. <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 />TIF Districts <br />Overview <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 />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 />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 />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 general tax base for <br />Northland Securities, Inc. 45 South 7th Street Suite 2000, Minneapolis, MN 55402 Toll Free 1-200-851-2920 Main 612-851-5900 <br />www.norHmdsecurities.com. <br />Member FINRA and SII'C <br />