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<br /> <br />August 23, 2007 <br /> <br />Dr. Roger Warner, Superintendent <br />ISD#12 <br />District Office <br />4707 North Road <br />Circle Pines, MN 55014 <br /> <br />Dear Dr. Warner: <br /> <br />The City of Centerville is proposing to create a plan for Tax Increment DIstrict Number 1-7. Tax Increment <br />District Number 1-7 is a redevelopment district located In Development District Number 1. <br /> <br />Tax Increment District Number 1-7 involves expenditures totaling approximately $255,000.00 for site <br />Improvements and administrative activities (administrative expenses do not exceed 10% of the project cost). <br />The city will need to borrow for all the expenditures anticipated in the plan. The proposed development would <br />not be possible if this tax increment financing plan were not implemented. No county road Improvements are <br />needed to support this plan. The anticipated tax capacity capture from proposed activities Included in this plan <br />within the proposed tax increment district is 35,582 at completion. <br /> <br />To solicit public input and complete the plan adoption process, the city will be holding a public hearing on <br />September 26, 2007 at 6:30 PM at city hall to receive comments on the plan. If you have any questions or <br />comments, please don't hesitate to contact me at 651-429-3232. <br /> <br />Sincerely, <br /> <br />JoVlII\, W. Metler <br /> <br />John W. Meyer <br />City of Centerville <br />Finance Director <br /> <br />PS: Attached is a copy of the Tax Increment Financing Plan <br /> <br />51 <br /> <br />---------~~-----------~--~- <br />