Laserfiche WebLink
<br />03-20-00 22:33 <br /> <br />F rem-KENNEDY' GRAVEN <br /> <br />+612337a310 <br /> <br />T-668 P.02/03 F-2a5 <br /> <br />... <br /> <br />Kellllcdv <br />,"\.- ;: . <br />( ~ 1,,1\ en <br /> <br />. . <br /> <br /><I 7u PJl.~..rf CrUCe <br />200 ~uulh S",tn Slr....t <br />Mi"nc.l11ol., MN S54U~ <br />(6 J:!J 3::l1-\l3DQ t.l<pllonc: <br />((,12) 3j7-~;\O r.I" <br />I.rtp' {{W\IV w.loi.c:nn.:Qy .g.:!..n ~Mn <br /> <br />~ <br />Snl'tiE'l J. 'BUtiliL <br />AttUln"~ ..I L;AW <br />Oll"~' D,~I (~l:l) J37.'J22S <br />E''l'Ioo,I: ibllhLtl(~kenniCdY-9-i4Ven.Com <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />Jim March <br />ell)' AdIllimstf;.ttor <br /> <br />FROM: <br />DATE: <br />RE: <br /> <br />SH~phen Bubul <br />Man:h 20, 2000 <br /> <br />Northern Fotest Products Project <br />C it)' of Centerville <br /> <br />On Octob~r 20, 1999, represemativt:s oft11t: City, Glenn and Myna Rehbein and Northe=n Forest <br />Products. LLC met r~gardjn~ Tax 1ucr~menr Rcv~ILue Notes, Senes 1995A (held by the <br />Rf:hbews) and S=nes 19958 (hdd by NFP) At tha.t meeting, we dis(;ussi:d how to address <br />concerns raised regarding rh~ st6.ltUS of paym~nts on both Not(;s. <br /> <br />Since them, r understand tha.i you. have had tunher diSicussions with Paul McDowell of !\'"FP, <br />revlsing the eliI"licr prapo:3al somewhat. nus memo summarlzes the proposal that staff IS <br />prepared to tc:comn1c:nd for CO\lncil approval. <br /> <br />Backeruunc1 <br /> <br />The tax lIlcremenr ::lvailabk: to pay both Notes hliS been less thi:lI1 thl: :l.mo~nt shown on tl~ <br />payment schedulc:s. Most of the decrease 15 attributable to redul:iion in cOIt'.merci:ll-inJusmal <br />propeny class r::ltes In add1tlOn. mark.~t value of the property for taxes payable in 1997 was only <br />$327,700, t.~ou~h the assessment agreement .requir=d il value of at least S527,70U by that date, <br />the county dill not apply that IDloiruum 'r'all,l.c until January 2, 19'}7. A small portion of the <br />Jecrease (in 1997 only) relatc:s tu a larger-than-expected base: ~e.1I.le inflation factor. <br /> <br />The Clty wrote a check in the amount of $21.225.30 ro [he Rehbeins, but tne I:heck. was not <br />delivereJ, and the parties assume this pllym~nl was not made. The elty ha.s maJc two p")'IDents <br />to NFP: $10,790.22 p8.1d febl'\l.ar)' 10, 1999 and $13,374.87 pald August 11, 199Y. <br /> <br />!;J~-17iliU'h l <br />CEIS5-7 <br /> <br />1 <br />