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FINANCIAL PLANNING AGREEMENT <br /> BY AND BETWEEN <br /> THE CITY OF CENTERVILLE, <br /> CENTERVILLE ECONOMIC DEVELOPMENT AUTHORITY, <br /> AND <br /> NORTHLAND SECURITIES,INC. <br /> ESTABLISHMENT OF REDEVELOPMENT PROJECT NO.1 AND ESTABLISHMENT OF <br /> TAX INCREMENT FINANCING (REDEVELOPMENT)DISTRICT NO.1-1 <br /> This Agreement made and entered into by and between the City of Centerville, Minnesota <br /> (hereinafter"City"), the Centerville Economic Development Authority (hereinafter "EDA"), and <br /> Northland Securities,Inc., of Minneapolis,Minnesota (hereinafter'NSI"). <br /> WITNESSETH <br /> WHEREAS, the City and EDA desire to use the services of NSI for financial planning assistance <br /> related the establishment of Redevelopment Project No. 1 and establishing Tax Increment <br /> Financing District No. 1-1 (the "TIF District") within Redevelopment Project No. 1, and <br /> approving the adoption of the Redevelopment Plan and Tax Increment Financing Plan(the "TIF <br /> Plan")relating thereto. <br /> WHEREAS, the City and EDA desire to use the services of NSI to assist with discussion and <br /> negotiation with a private developer(the "Developer")for construction of multi-family housing <br /> improvements within the TIF District(the"Project"). <br /> WHEREAS,the Project is intended solely for financial planning and NSI is not providing advice <br /> on the timing, terms, structure or similar matters related to a specific bond issue; <br /> WHEREAS,NSI desires to furnish services to the City and EDA as hereinafter described;and <br /> NOW,THEREFORE,it is agreed by and between the parties as follows: <br /> SERVICES TO BE PROVIDED BY NSI <br /> The scope of work will undertake the process to establish the Redevelopment Project No. 1 and <br /> to establish the TIF District. Legal services,including but not limited to review of the <br /> Redevelopment Plan and the TIF plan and the approving resolutions,is not provided by NSI <br /> and is not subject to this Agreement. NSI will provide the following services: <br /> 1. Collect data for the TIF District and the TIF Plan, including: <br /> a. Parcel identification numbers for all parcels within the TIF District <br /> b. Estimated market value and tax capacity value for all parcels within the TIF District <br /> c. Current property tax rates for all taxing jurisdictions <br /> d. Map showing project location and parcel boundaries <br /> 2. Evaluate and advise City and EDA on type of tax increment financing districts and <br /> limitations and requirements for establishing a tax increment financing district. <br /> Agreement(Financial Planning) Page 1 <br /> 14 <br />