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2A, Presbyterian Homes Tax Increment Financing Contract
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2A, Presbyterian Homes Tax Increment Financing Contract
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10/23/2024 12:14:03 AM
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1/31/2011 2:24:27 PM
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12-13-10 City Council Work Session
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Conduit Financing Fees <br /> Community Application Fee Fee <br /> Surrounding Communities <br /> Roseville $2,500- Non <br /> refundable $10,000 or 1%of par amount of bonds, whichever is greater <br /> Mounds View $500- Non 1%of par amount <br /> refundable <br /> St.Anthony None 1%of par amount <br /> Vadnais Heights No Policy No Policy <br /> Shoreview No Policy Developer covers costs related to legal and fiscal review <br /> New Brighton No Policy No Policy,very rare to get request <br /> Other Communities <br /> Anoka $2,500- Non $10,000 or 1%of par amount of bonds, whichever is greater <br /> refundable <br /> 1/2 of 1%of paramount plus an on-going fee of 1/10 of 1%of <br /> Brooklyn Park $500-Non outstanding principal amount on bonds (looking to change <br /> refundable policy to do larger up front fee and do away with annual fee <br /> due to issues of getting payment from developers) - <br /> Dakota County CDA $1,000- Non Greater of$10,000 or 1/8 of 1%of par amount AND on-going <br /> refundable fee of 1/8 of 1%of outstanding principal on bonds <br /> Bloomington $2,500- Non Lump sum fee of 0.25%of the 1st$10 million, plus 0.10%of <br /> refundable bond proceeds above $10 million <br /> 1. For new and refunding issues, lump sum fees of 1%of the <br /> 1st$5 million of principal, plus 0.5%of the next$15 million of <br /> principal, plus 0.25%of bond amounts greater than $20 <br /> million <br /> Blaine 2. For projects outside of Blaine, a lump sum payment of 0.5% <br /> of bond proceeds <br /> 3. For municipal consent to obtain conduit financing <br /> elsewhere for Blaine projects, .0125%of bond proceeds for <br /> Blaine portion of the project <br />
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