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FC CASE <br /> <br />AUTHORIZE FISCAL IMPACT ANALYSIS OF <br />LONG RANGE REVENUE PROJECTIONS <br /> By: James E. Norman, City Administrator <br /> <br />Background: <br /> <br />In 1999, the City utilized the services of Springsted Advisors to perform a Fiscal Impact of <br />Growth and Long Range Revenue Projections for the City of Ramsey. The Study was a series of <br />financial projections and assumptions supplied by the City that allowed Springsted to perform an <br />analysis that indicated the impact of growth and the expectation of revenues generated from the <br />growth. The study focused on a time period between 1999 and 2005. <br /> <br />It was determined after the study was presented that the study should have been extended to <br />include the de-certification of Tax Increment Financing District No. 6, which is expected to be <br />completed in the year 2006. Additionally, recent discussions of a City Hall expansion project, <br />which would require substantial financing, would require further study of long-range revenue <br />projections. Staff requested a quote from Juran & Moody for a fiscal impact analysis and <br />received a proposal in February (letter attached to case). Financing for the fiscal impact analysis <br />would come from the Professional Services line item of the 2001 Budget of Administrative <br />Services. The proposed fee for the completion of the study is $6,000. <br /> <br />Recommendation: <br /> <br />Staff would recommend contracting with Juran & Moody to perform a fiscal impact analysis of <br />projected revenues for the period of 2002 through 2006. <br /> <br />Council Action: <br /> <br />Motion to contract with Juran & Moody to perform a fiscal impact analysis of projected revenues <br />for the period of 2002 through 2006. <br /> <br />Reviewed by: <br /> <br />City Attorney <br />Finance Officer <br /> <br />FC: 04/10/01 <br /> <br /> <br />