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<br /> <br /> <br />June 13, 2007 <br /> <br />Cathy Bennett <br />Roseville Housing and Redevelopment Authority <br />2660 Civic Center Drive <br />Roseville, MN 55113 <br /> <br />RE: Proposal to Provide Fina ncial Advisory Services in Conjunction With A Long- <br />Term Financing Plan <br /> <br />Dear Ms. Bennett: <br /> <br />Thank you for the opportunity to submit this proposal to provide financial advisory <br />services to support the Roseville Housing a nd Redevelopment Authority (“HRA”) in its <br />proposed financing plan with options for implementation of its housing plan. These <br />options may include a separate levy for the HR A, tax increment financing (TIF), various <br />loan programs, and a housing improvement ar ea within the City of Roseville (“City”). <br />Ehlers has the most experienced staff when it comes to assisting communities in the <br />important task of developing and maintaining their housing stock. <br /> <br />Statement of Understanding and Proposed Scope of Work <br /> <br />It is our understanding that the HRA is s eeking to establish long-term funding from a <br />variety of potential resources. In the past, the HRA has reque sted funding from the City <br />Council on a project-by-project basis. The HRA is seeking a consultant to outline <br />potential funding sources, the potential amount of the sources over a five to ten year time <br />horizon, and a report on what type of program s have worked well in other communities <br />with similar issues to Roseville. <br /> <br />About Ehlers <br /> <br />Ehlers is a nationally ranked independent fi nancial advisory firm with 70 employees in <br />three offices serving clients in Minnesota, Wi sconsin and Illinois. We are headquartered <br />in Roseville. Our firm has been designing outstanding financial so lutions for outstanding <br />communities for over 50 years. During our hi story, we have developed and expanded our <br />services to include debt pl anning and issuance, strategic and financial planning, public <br />participation, economic development, housing, redevelopment, and special financial <br />studies. As an independent firm, our only intere st is in representing our clients’ interests <br />in the financial markets, as well as in our non-bond financial cons ulting. We only work <br />for governmental and a few non-profit clients.