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MINNESOTA Devartment of Revenue Property Tax Division October 26, ?001 Edward L. Burrell Finance Director City of Roseville 2660 Civic Center Drive Roseville, Minnesota 55113 Dear Mr. Burreil: Mail Station 3340 St. Paul, MN 55146-3340 Phone (G51) 296-339� Fax (651) 297-2166 This is in response to your letter addressed to Shawn Wink of the Property Tax Division, dated August 27, 2001. Your letter and supportin� documents constitute a request for early decertification of TIF Districts No. 5, 6, 7, and 9, effective Dccember 31, 2001. First Special Session Laws 20U1, Chapter 5, Article 15, Section 12 provides that a TIF authority must obtain approval from the Commissioner of Revenue to decertify a preexisting TIF district before its required decertification date if there are outstanding preexisting obligations secured by increments from another preexisting TIF district in the municipality. The Commissioner may approve early decertification only if the decertification is unlikely to increase the municipality's entitlement to a TIF grant. Since the Department of Revenue cannot know with certainty whether or not one or more early decertifications would increase the overall deficit situation for a TIF municipality for the purpose of a future TIF grant application, the following procedure has been established for granting approval of early decertification requests. The city of Roseville is granted early decertification for the named TIF districts on the following conditions: • Any future grant application of the city must reflect an adjustment for the "missed opportunity" of pooling tax increments from th� decertified districts. • The adjustment would be the estimated tax increment that the decertified districts would have received in the year prior to the year of the grant application. This adjustment would be a reduction in the deficit of the remaining TIF districts for the purpose of the grant determination. • The city of Roseville must agree in writing to the adjustment explained above, and must provide the adjustment amount along with the detail showing its calculation of the adjustment in its grant application. Corttinued ... �ln egual oppornu�it}' eniployer 77'Y/TDD: (651) 2/5-0069