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WouldthisprojectqualifyforTIF?No,ahotelwouldnotqualify.EconomicdevelopmentTIFdistrictscanbe <br />establishedformanufacturing,warehousing,anddistribution,withsomeexceptionsthatķƚƓ͸Ʒapplytoyour <br />situation. <br />Ifso,underwhatTIFcategory?TIFisnotanoptiontoprovidefinancialassistanceforthisprojectas <br />described.Thecitycouldconsideracitytaxabatement.Thecityhastheauthoritytoabatecitytaxesfora <br />periodofupto15years,and20yearswithsomeadditionalprocesssteps.Thecountyandschooldistricteach <br />havetheirownseparateauthoritytoconsidertaxabatement. <br />Whatarethebasicrequirementsofthatcategory(e.g.,minimum#ofjobs,etc.)TaxAbatementisflexibleinits <br />requirements.However,dependingontheamountoftaxabatementassistanceprovidedtheassistancemaybe <br />aͻĬǒƭźƓĻƭƭƭǒĬƭźķǤͼunderstatelaw.Ifso,theĭźƷǤ͸ƭbusinesssubsidypolicywo <br />ulddetermineminimum <br />jobs/wages. <br />AbouthowmuchTIFcouldthisprojectgenerateatamaximum?Wemaynotofferthatmuchbutwouldliketo <br />knowǞŷğƷ͸ƭpossible.Icouldprovideyouwithapreliminaryestimatefortaxabatement.Iwouldneedtoknow <br />theparcel(s)wheretheprojectwillbelocatedandtheestimatedconstructioncostofthehoteland#ofhotel <br />unitsandproposedamenitiesorpointmetoasimilarproduct(hotel)inanothercity. <br />Thanks. <br />Mark Statz, PE <br />City Administrator/Engineer <br />City of Centerville <br />1880 Main St. <br />Centerville, MN 55038 <br />O: 651-429-3232 <br />D: 651-792-7931 <br />C: 651-775-5126 <br />mstatz@centervillemn.com <br />www.centervillemn.com <br />@centervillemn <br />Northland Securities does not accept buy, sell, or cancel orders by email, or any instructions by email that would require your signature. Any cellular number <br />provided in this message is for voice communications only. Text/SMS/Messaging with your Northland Representative is not permitted for any business-related <br />purpose. Please use the links below for important disclosures regarding electronic communications with Northland Securities and its related companies. <br />To help protect your <br />privacy, Microsoft Office <br />prevented automatic <br />download of this picture <br />from the Internet. <br />EMail Disclaimer | Unsubscribe | Firm Information <br />Member FINRA, MSRB, and SIPC <br />www.northlandsecurities.com <br />2 <br /> <br />