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<br />MEMO <br /> <br />DATE March 23,2000 <br /> <br />TO Honorable Mayor and Council <br /> <br />FROM: Jim March <br /> <br />RE : Northern Forest Products - Tiflssue <br /> <br />............................................................................ <br /> <br />Included in your packet is a revised memo from Kennedy and Graven in regards to the <br />tax increment district for Northern Forest Products. I have presented this memo to <br />Northern Forest Products and Glen Rehbein Excavating. Paul McDowell has responded <br />that he agrees with the concept in the proposal. At the time of this annotation, I have not <br />heard from the legal counsel for Glenn Rehbein Excavating. <br /> <br />I believe that we have reached a negotiated proposal that would be a benefit to all parties <br />involved. I will refresh the Council with the issues that have occurred with this original <br />tax increment district. The issues were beyond the control of the parties involved, <br />including the City. <br /> <br />The proposal addresses the methods of payment for the two limited revenue notes that <br />were generated as a result of the creation of the district. I am suggesting that the City of <br />Centerville abate the City share of taxes for a period of one year at the end of the term of <br />the current district in exchange for Northern Forest Products expanding their current <br />facility before the current district expires. <br /> <br />Paul McDowell has indicated that they may expand their current building to nearly twice <br />its current size. This would be a great benefit to the community in several ways. If this <br />concept is agreed to by all of the parties involved, the actual dollar amounts would need <br />to be calculated and presented at a later date along with new written agreements. <br />