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1999-02-10
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1999-02-10
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12/21/2009 10:31:26 AM
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MEMO <br /> DATE : February 5, 1999 <br /> TO : Honorable Mayor and Council <br /> FROM : Jim March <br /> RE : Northern Forest Products Tif Payments <br /> *************** * * * * * * * * * * * * * * * * * * * * * * * * * * * * * ** <br /> In Edition #1 of my "Week in Review" I mentioned the research that I was performing on trying to <br /> solve the problem with the tax increment financing that was established for the Northern Forest <br /> Products development, I am enclosing some information in your packet on the purpose of tax <br /> increment financing. I am also going to enclose copies of the two notes that were issued as a part <br /> of this financial assistance. <br /> I have contacted Sid Inman and Shelly Eldridge from Ehlers and Associates (City Financial <br /> Advisor) to ask them to provide the figures that the City needs to pay to be brought up current on <br /> these two notes. I have also asked for new payment schedules (if they are required) due to the <br /> changes that were made to the district after it was established. <br /> Ms. Eldridge from Ehlers was going to fax the information that I had requested by Friday <br /> afternoon. If the information from Ehlers is received prior to packet delivery, the information will <br /> be enclosed. If for some reason we do not receive the information prior to packet delivery, it will <br /> be distributed to Council next week. If anyone has any questions on this issue, please contact me. <br /> There appears to be a large amount of history on this topic in the file and I can research questions <br /> in advance if I am made aware of them. <br />
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