Agenda - Council - 05/09/1995 - Laserfiche WebLink

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City of Ramsey 15153 NOWTHEN BOULEVARD N.W., RAMSEY, MINNESOTA 55303 PHONE (612) 427-1410 FAX (612) 427-5549 TDD (612) 427-8591 March 8, 1995 Windemere Woods of Ramsey Attention: Allen Koenig 14290 Sunfish Lake Boulevard N.W. Ramsey, Minnesota 55303 RE: $106,756 Tax Increment Revenue Note, Series 1993C Enclose(is a very detailed schedule which shows the value of all lots in all subdivisions that are eligible for repaY_ment under the 1993 Tax Increment Revenue Notes. This schedule was prepared after the original February I, 1995 payment was made when it was determined that the allocation of the available increments on an annual basis would be distributed based on tax capacity on each lot in each subdivision, · rather than in the manner originally used. The actual levy, after abatements, was $47,393.08, of which $46,873.49 was actually collected during 1994. As indicated on the original schedule, after deducting county adminislzation costs and applying the 97% per the note, $42,284.09 was available for distribution. The following shows the "original" distribuOon and the "revised" allocation of these available increments: : Revised Original Due From (To) Devel~pmen~ D_iakdkllk[.~ D. ialr_ilz!l.t[~ City of Ramsey CedarHills $ 7,071.00 $18,121.76 ($11,050.76) Chestmit Hills 11,654.22 15,896.27 ( 4,242.05) Windemere Woods .23.558.87 8.266.06 15.292.81 ; $42,284.09. .$42,284.09 .$ 0.00 Based :on the revised calculations you were under paid on the 1994 distribution in the amount of $15,292.81. This amount is included on the enclosed check from the City of Ramsey. If them are questions regarding this revised distribution, please contact me directly at 427-1410. Sincerely, CITY OF RAMSEY Jessi~L. Hart FinanCe Officer EnclOSure Ryan Schroeder, City Administrator Bill Goodrich, City Attorney I I I I I I I I I I I