Laserfiche WebLink
PROFESSIONAL SERVICES AGREEMENT <br />BY AND BETWEEN <br />CITY OF CENTERVILLE, MINNESOTA <br />AND <br />NORTHLAND SECURITIES, INC. <br />TAX INCREMENT FINANCING (REDEVELOPMENT) DISTRICT <br />This Agreement made and entered into by and between the City of Centerville, Minnesota <br />(hereinafter the "City") and Northland Securities, Inc., of Minneapolis, Minnesota (hereinafter <br />"NSI"). <br />WITNESSETH <br />WHEREAS, the City desires to use the services of NSI for financial planning assistance related <br />the establishment of Tax Increment Financing (Redevelopment) District (the “TIF District”) to <br />provide financial assistance for the construction of a residential building (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 as hereinafter described. <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 and financial planning to establish the TIF District. <br />Legal services to review the written plan for the TIF District (the “TIF Plan”), resolutions, and <br />development agreements with the private entity undertaking the Project (the “Developer”) are <br />not subject to this agreement. Inspection services that may be needed to determine if the project <br />meets the definition of “Substandard Building” as defined by Minnesota Statutes, Section 469.174, <br />subdivision 10, are not provided by NSI and are not subject to this agreement. <br />NSI will provide the following services: <br />1.Set and distribute calendar of meetings and key dates. <br />2.Collect data for the TIF District and the Project, including: <br />a.Parcel identification numbers for all parcels within the Development District and <br />the TIF District. <br />b.Estimated market value and tax capacity value for all parcels within the TIF <br />District. <br />c.Current property tax rates for all jurisdictions. <br />d.Map showing project location and parcel boundaries. <br />e.Building permits issued for parcels in the TIF District over the past 18 months. <br />Agreement (Redevelopment TIF District) Page 1 <br /> <br />