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07/05/01 THU 09:03 FAX 6512241305 ~002 Jur:JMy AD1Wioll ofMIUer Jolmaon Steichen Kinnard 1100 Minnesota World Trade Cettter 30 East Seventh Street St. Paul, MN 55101-4901 (800) 950-4666 (651) 224-1500 Fax (6.51) 224-130.5 E X T ERN A L MEMORANDUM DATE: July 5,2001 TO: Jim March City Administrator . k t'JA (" FROM: Nick M. S am..'1f-) Vice President RE: Centerville, Minnesota Centerville Tax Increment District Reporting COMMENTS: Mr. March, Juran and Moody welcomes the opportunity to submit a proposal for tax increment reporting services. Our firm has an extensive background in TIF reporting and is confident it can provide Centervillewith the best possible service. I generally break TIP reporting into two categories: current and historical. Current includes doing a surface analysis/verification of prior-year information, reconciling original/modified budgets, and compiling all current year information, This is normally done with cities that are comfortable with prior reporting practices. For five districts I would propose a not to exceed amount of$3,750 ($750 per district). Historical reconciliation includes the above, plus reconciling the reports back to year one of the TIP district. This can be extensive and based on experience can add to the cost. It is a one-time increase due to the fact that historical reconciliation only needs to be performed once. This is normally done in cities with staff turnover, OSA violation letters, or a lack of comfort with prior reporting practices. Further discussion would be necessary prior to submitting a cost proposal. It will be dependent on City accounting procedures, availability of required infonnation, and age of the respective TlF districts. I would like to remind the City that any fees associated with tax increment reporting are eligible to be paid by administrative retainage from the TIP districts. Feel free to call me with any questions regarding this proposal at (651) 291-3062. Thank you.