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<br />NORTHLAND _SEe U RI TI ES <br /> <br />45 South 1h Street <br />Suite 2500 <br />Minneapolis, MN 55402 <br /> <br />(800) 851~2920 <br />(612) 851-5900 <br />Fax (612) 851-5917 <br /> <br />E X T ERN A L <br /> <br />M E M 0 RAN DUM <br /> <br />DATE: August 20, 2004 <br /> <br />TO: Downtown Redevelopment Group <br /> <br />CC: Kim Moore-Sykes, City Administrator <br /> <br />FROM: Nick Skarich, Vice President, Partner <br />Northland Public Finance <br /> <br />RE: Centerville Downtown Redevelopment <br /> <br />This is a response to the question regarding types of cost that would qualify as eligible for tax increment <br />financing. Those costs would include: <br /> <br />1. Land Acquisition <br />2. Soils Correction <br />3. Site Preparation <br />4. Demolition <br />5. Infrastructure <br />6. Public Improvements <br />7. Parking Structures <br />8. Relocation <br />9. City Administrative Fees (10% of gross TIF) <br />10. Assessment Offsets <br /> <br />Keep in mind that most public costs, and the need to establish a TIF district, would be driven by the City <br />as they would be responsible for those costs and ultimately decide how they get paid for. Other costs <br />such as parking, demolition, land acquisition, etc. that relate to specific properties would be driven by the <br />private, and! or developers looking to redevelop the sites. <br /> <br />Feel free to contact me with any questions at (612) 851-5907 or (800) 851-2920. Thank you. <br />