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AT~D <br />PROFESSIONAL ASSOCIATION <br />July 7, 2000 <br />VIA. FAX <br />ippmar@briggs.cam <br />Edward Burrell <br />Finance Director <br />Roseville, City of <br />2660 Civic Center Drive <br />Roseville, 1~ZN 55113-1899 <br />Re: 'T'ax Increment Financing Inquiry <br />Dear Ed: <br />I understand that the City of Roseville acquired a parcel of land in 1991 or 1992. This land was <br />acquired from pooled tax increments from tax increment districts established in the years 1982 <br />through 1984. The City may sell this land and. you have asked the question whether sale <br />proceeds derived from the land must be treated <<s t~:fa~~re~r~ents under the tax increment <br />financing law. <br />The tax increment financing law was amended in 1997 to provide that the proceeds from the sale <br />of land purchased with tax increments is treated as tax increments if the land was purchased after <br />June 30, 1997 from tax increments from tax increment financing districts for which certification <br />was requested after June 30, 1982. Therefore, the sale proceeds from this parcel won`t be treated <br />as tax increments . <br />If you have any questions, please feel free to call me. <br />Very truly yours, <br />~~~°~~¢ <br />Mary L. Ippel <br />MLl:tfy <br />1184527.1 <br />2200 FIRST NATIOI~IAL BANK Bt1ILDIPv`G <br />332 ~4INNESOTA STREET <br />SAINT PAUL, ?MINNESOTA 55101 <br />TELEPHONE (G51) 223-6600 <br />FACSIf'MJLE (651) 223-6450 <br />txt'RTTER`S DIRECT DIAL <br />(651) 223-6620 <br />WRITER`S E-f'vIAIL <br />MINNEAPOLIS OFFICE ~ IDS CENTER ~ WWW. BRIGGS.COM <br />MEMBER - LEX MUNDI, A GLOBAL ASSOCIATION OF INDEPENDENT LAW FIRMS <br />