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<br /> , <br /> 1 . <br /> , . <br /> Ehlers and Associates.lnc. <br /> LEADERS IN PUB II C FINANCE <br /> . <br /> TAX INCREMENT FINANCING PROCEDURE <br /> Proposal by developer <br /> Discussions among developer, financial advisor and city staff <br /> City staff recommendation <br /> Council approval of concept and call for April 26 public hearing <br /> Delivery of fiscal and economic implications material to Ramsey <br /> County and Mounds View &hoo1 District on March 26 (30 days <br /> prior to the hearing) <br /> Council review of preliminary draft of l-bdified Development Program <br /> (includes TIF Districts Nos. I and 2 plus the modification to add <br /> Dis'trict No.3: Cottage Lifestyles) <br /> Publication of notice of hearing at least 10 days prior to April 26 <br /> Public hearing on modification of DevelolJllent Program and Tax . <br /> Increment Financing District No.3, April 26 <br /> Council consideration of resolution (to be drafted by tax increment <br /> and financing counsel) approving the modification of the <br /> Development Program and establishing Tax Increment Financing <br /> District No. 3 <br /> Council consideration of entering into developer's agreement with <br /> Cottage Lifestyles for pay-as-you-go tax increment reimbursement <br /> * * *' * * * <br /> Once the resolution is approved and the developer's agreement has <br /> been signed, Tax Increment Financing District No. 3 may be <br /> certified to the County (where it is officially established) and <br /> the building permit may be issued <br /> EHLERS .AND ASSOCIATES, INC. <br /> Financial Advisors to the City <br /> 3/29/93 . <br /> OFFICES IN MINNEAPOLIS. MN . BROOKFIELD. WI . JAMESTOWN. NO <br /> 2950 Norwest Cenler' 90 Soulh Seventh Slree! . Monneapolis. MN S54{J2.411ll1. 612.339.8291 . FAX 612.339,0854 <br /> -- <br />