Laserfiche WebLink
Michael Ericson <br /> January 9, 2015 <br /> Page 3 of 3 <br /> Finally,we have first-hand experience working together on public finance matters, first with the City of <br /> Hugo, and secondly in the City of Maple Plain,when you were interim city administrator. The City issued <br /> a complex general obligation bond,with both assessments and utility revenues serving as security for the <br /> repayment of the bond,and we worked through the necessary public processes to complete the bond sale <br /> and closing. I trust you received responsive and high-quality service from the firm in this transaction. <br /> The public finance legal community in Minnesota is a small one, and we are very aware of the fees our <br /> competitors charge. Our fees are therefore highly competitive. When serving as bond counsel,typically a <br /> flat fee is charged. This flat fee varies, depending on the complexity and nature of the transaction. <br /> However,our flat fees are based on hourly representation rates of$170 per hour. This is the same hourly <br /> rate that would govern our representation of the City for economic development matters, such as TIF <br /> proceedings (i.e. TIF Plan review, resolution drafting, etc.),the tax abatement process, development <br /> agreement drafting,etc. We are certainly happy to further discuss our fee process with you and the City <br /> Council to come to an agreement that benefits all parties. <br /> On behalf of the firm,I am excited at the opportunity to represent the City of Centerville,and I look <br /> forward to hearing from you soon regarding this proposal. Thank you for your attention to this matter. <br /> Sincerely, <br /> Andrew J. Pratt <br /> Enclosure <br /> AJP/sms <br /> 72 <br />