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<br /> L.~ ~ I _ ~ ! I - <br /> Thcrc arc several ways increment could spur development on improved lots. For example, you <br /> could: <br /> Pay for special assessments or improvement costs, thereby making the lots more <br /> affordable <br /> Provide down payment assistance or gap financing to the homeowner <br /> Provide construction financing Co a builder <br /> Wrile down the interest cost on the builders construction loan <br /> Kcmember, the lots you assist must have homes under construction by July 1, 2011. <br /> _ , <br /> Increment could be used to make tow-interest or forgivable loans to home-owners, rental <br /> property owners, or a businesses Chat will substantially renovate their property. If the loans are <br /> repaid, the repaid amount is still considered tax increment and will need to be; accounted for in <br /> tltc district. <br /> No. rxisung cash balances and increment co(lccted tlu'ough December 31, 201 I must be used. <br /> No new authority for bonds or interfwtd loans is allowed. There are techniques for freeing up <br /> tax increment cash flow to use as much tax increment funds as possible before the end of 2011. <br /> Tlto authority must adopt a written spending plan that specifically authorizes the assistance. This <br /> plan must be adopted following a public hearing. A notice of the public hearing tnust be <br /> published in a newspaper of general circulation at leasC once and not less than 10 days and not <br /> more than 30 days prior to the date of hearing. <br /> Contact your Shiers Financial Advisor at (51-697-8500. (A list of Ylinnesota Financial Advisors <br /> and their direct dial numbers cart be fotmd wtdcr dtc Contace Us tab at Chc top of our website at <br /> www.ehters-inacom) <br /> U51-G91~6Gn0 3060 Cr.llro Pointo Dmc . <br /> E H L E RS _ <br /> rennens iw rueuc eiennc[ Offices e~lso uiwuce,rsm antl fllmois 651697~f3Sb.i ti0.^,eville, MN S!i113 ~11 ? <br /> 4 <br /> <br />