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2007-09-26 CC Packet
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2007-09-26 CC Packet
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<br /> <br />tervi{{e <br />'Estafj(i.ifted" 1857 <br /> <br />188(J 'fMdm,StN"". Cmui'rdlti. !M9V: ~~D.}lf <br />'M'-42~vJ2J3 prq:'~6$J429-~6~9 <br /> <br />August 23, 2007 <br /> <br />Ms. Rhonda Sivarajah <br />Commissioner <br />Anoka County <br />21003" Avenue <br />Anoka, MN 55303 <br /> <br />Dear Commissioner Sivarajah: <br /> <br />The City of Centerville is proposing to create a plan for Tax Increment District Number 1-7. Tax <br />Increment 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 pian. 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 />Jon"- w. Met:)er <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 />//1 <br />
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