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<br /> 3060 Centre Pointe Drive <br /> Roseville, MN 55113-1105 <br /> Phone: 651-697-8500 <br /> Fax: 651-697-8555 <br />Memo <br /> <br />To: Joel Hanson, City Administrator <br />Sharon Provos, Finance Director <br />From: Jeanne Vogt, Ehlers <br />Cc: Todd Hagen, Ehlers <br />Shelly Eldridge, Ehlers <br />Date: August 4, 2016 <br />Subject: Proposal for Updated TIF Management Plan <br /> <br /> <br />The City of Little Canada has asked Ehlers to provide a cost estimate for updates to the City’s <br />Tax Increment Financing (TIF) Management Plan. The updates would include audited financial <br />data from the City through December 31, 2015 and Ramsey County Assessor values for taxes <br />payable in 2016 and 2017. <br /> <br />TIF Management Plan <br />The most recent comprehensive update to the City’s TIF Management Plan (“Plan”) was <br />completed in January 2012. We recommend the Plan include the following updates: <br /> Executive Summary <br /> Summary of Outstanding Obligations <br /> Recommendations for: <br />o Budget Modifications <br />o Cash Balances and Uses <br />o Excess Increment on TIF Reports <br />o Pooling Recommendations <br /> Update cash flow projections by TIF district <br />o Final revenues and expenditures for each TIF district. <br />o Updated repayment schedules for debt obligations <br /> Analysis of Administrative Costs and 10% limit <br /> Updated Pooling calculations <br />o 75%/80% required to be spent inside the TIF district <br />o 25%/20% available outside the TIF district <br /> 4 Year Rule compliance <br /> 5 Year Rule compliance <br /> <br /> <br /> <br /> <br />