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<br />MEMO <br /> <br />DATE: September 8, 2000 <br /> <br />TO : Honorable Mayor and Council <br /> <br />FROM: Jim March <br /> <br />RE : Northern Forest Products Tax Abatement <br /> <br />............................................................................ <br /> <br />Included in your packet is a letter that was received from Paul McDowell at Northern <br />Forest Products. Mr. McDowell illustrates a number of concerns that he has with the <br />original establishment of his tax increment district. Mr. McDowell further indicates that <br />he is desirous of expanding his business and mentions that he has discussed locating his <br />expansion in Hugo to be near rail access. <br /> <br />Mr. McDowell is requesting a five-year tax abatement as an incentive for Northern Forest <br />Products to expand in the community. The abatement would only be granted for five <br />years ifthere is an actual expansion. Only a one-year abatement would be granted, if no <br />expansion occurred. Ifthe Council is willing to grant this abatement, a new public <br />hearing will have to be held. The abatement would only be granted for the increased <br />market v;;.Iuation, not for the existing building valuation. <br /> <br />Sid Inman and Carolyn Drude from Ehlers and Assoc. will be present to discuss this issue <br />with Council. Sid Inman will be bringing an impact analysis to show the costs of the <br />requested abatement. I believe it is quite important to keep this business expansion and <br />new jobs within the community. <br /> <br />. <br />