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hlichael Ericson January 9, 2015 Page 2 of 3 The firm is also experienced with more complex, unorthodox financing transactions, such as the negotiation and execution of inter-governmental loans with the Minnesota Public Facilities Authority and the United States Department of Agriculture,joint powers financing arrangements,pure revenue financings, and refinancings of outstanding bonds. We have assisted municipalities with the execution of conduit financings, which frequently involve the issuance of revenue bonds on behalf of a non-profit or qualified private entity, with no general obligation pledge from the municipality. We also work with municipalities in general economic development matters, such as tax increment financing(TIF),tax abatement, revolving loan funds, and business subsidy agreements. Finally, the firm is expert with assisting cities in the establishment and implementation of micro-loans using available TIF or economic development revenues. These loans often provide much-needed gap financing to make a development proposal work. On the economic development side, I on behalf of the firm have assisted cities with complex TIF development agreements, the issuance of General Obligation TIF Bonds(both taxable and tax-exempt),and the issuance of TIF"pay-as-you-go"Notes,which are typically provided to property developers to reimburse the developers for initial construction expenses. We have even drafted special legislation to benefit cities in TIF matters. For example, in 2013 the firm drafted special legislation on behalf of the City of Glencoe to extend the duration of the city's longstanding redevelopment TIF district,so that the district could continue to make debt service payments allocated to other districts that had suffered during the economic slowdown. This piece of legislation was wrapped into the 2013 omnibus tax bill that passed with only a few minutes left in the legislative session. In another example, in 2012 we assisted the City of East Bethel in the recruitment of a sizeable manufacturing and industrial business. I helped the city create its first-ever TIF district,and drafted the development agreement and business subsidy agreement covering the project. This new development along the Highway 65 corridor will likely spur further development in East Bethel. The firm has also assisted the City of Bayport's compliance with a TIF audit by the Minnesota State Auditor, which helped secure a settlement favorable to the City and disposed of issues with the use of TIF that occurred before the firm represented the City. I am accustomed to working with a city's administration and finance director, as well as economic development consultants. The firm enjoys collaborative working relationships with all members of the municipal finance field,such as financial advisors(i.e.Northland Securities, Springsted, Ehlers),bond underwriters,trustees, fiscal agents, auditors,and accountants. I am also a member of the League of Minnesota Cities' Development Task Force,which principally considers ideas for new TIF legislation. Finally,Eckberg Lammers has years of experience representing EDA's and HRH's, and has worked with many economic development professionals to leverage the necessary development tools to promote growth. In 2013,the firm assisted the City of Scandia with the creation of a new EDA,and we have assisted this entity through its initial stages. As a part of this process,we frequently draft and revise enabling resolutions and bylaws for EDA clients,which serve as a"roadmap"for the various powers allocated to the EDA. 71