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NORTHLAND40)SECURITIES <br />October 25, 2013 <br />Mr. Kurt Ulrich <br />City Administrator <br />City of Ramsey <br />7550 Sunwood Drive NW <br />Ramsey, MN 55303 <br />RE: Proposal for Tax Increment Financing Services <br />Dear Mr. Ulrich: <br />Northland Securities appreciates the opportunity to present our financial planning services to <br />the City of Ramsey. Northland has built its reputation on being attentive to client needs and <br />responding with creative and prudent ideas. It is that philosophy, combined with our <br />experienced personnel, and our sincere interest in working diligently with you to achieve your <br />objectives, that will help accomplish the goals for the city. We look forward to the opportunity <br />to provide excellent service to the City. <br />Northland desires to furnish services to the City as described in this letter. The City may decide <br />to use Northland for any or all of these services at its sole discretion. <br />BACKGROUND <br />The City of Ramsey issued a Request for Proposals (RFP) on October 16, 2013, seeking proposals <br />from qualified firms to perform the following tasks related to Tax Increment Financing District <br />No. 14 (the "COR"): <br />1. Meet with City staff to revise development scenarios and timing of development. <br />2. Update overall COR project costs to date and anticipated costs. <br />3. Prepare updated Tax Increment Financing (TIF) runs for each area and update overall <br />TIF district model to determine: <br />a. Amount of TIF available through the term of the district to repay the City/HRA <br />for their investment in the land and public improvements to date. <br />b. Amount of TIF available for any future public improvements in the TIF district. <br />c. Amount of TIF available for Residence at the COR (Apartment Complex Project) <br />bond and pay-as-you-go obligations; and <br />d. Amount of TIF available for any future third party obligations (amount of TIF <br />that is not needed to pay for existing or future City/HRA obligations). <br />45 South 7th Street, Suite 2000, Minneapolis, MN 55402 <br />Main: (612) 851-5900 / Direct: (612) 851-4964 / Email: tomdal@Northlandsecurities.com <br />Member FINRA and SIPC <br />