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<br />July 15, 2005 <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. Wamer: <br /> <br />The City of Centerville is proposing to create a plan for Tax Increment District Number 1-6. Tax <br />Increment District Number 1-6 is a redevelopment district located in Development District Number 1. <br /> <br />Tax Increment District Number 1-6 involves expenditures totaling approximately $650,000.00 for site <br />acquisition, capitalized interest and administrative activities (administrative expenses do not exceed 10% of the <br />project cost). The city will need to borrow for all the expenditures anticipated in the plan. The proposed <br />development would not be possible if this tax increment financing plan were not implemented. No county road <br />improvements are needed to support this plan. The anticipated tax capacity capture from proposed activities <br />included in this plan within the proposed tax increment district is 42,975 at completion. <br /> <br />To solicit public input and complete the plan adoption process, the city will be holding a public hearing on <br />August 24. 2005 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 />JOVtV\, w. Metjey <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 />