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