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MAYOR <br />Michael I. Fahey <br />COUNCIL <br />Beverly Scalze <br />Jim LaValle <br />Steve Morelan <br />Bob Pedersen <br />515 Little Canada Road, Little Canada, MN 55117-1600 ADMINISTRATOR <br />(651) 484 -2177 / FAX: (651) 484 -4538 Joel R. Hanson <br />Email: cityhall @ci little - canada.mn.us <br />MEMORANDUM <br />TO: Mayor Fahey & Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATE: May 5, 2000 <br />RE: Tax Increment Financing Note — Park View Court <br />At our last meeting, we approved the development agreement with Masterpiece Homes for the <br />Park View Court project. The developer has complied with the terms of the development <br />agreement including submission of all required documents and the issuance of the Tax Increment <br />Financing Note (TIF) is now authorized pursuant to that agreement. Therefore, I am proposing <br />we issue a note effective May 10 based on the terms of the development agreement between the <br />City and Masterpiece Homes, Inc. The proposed note is attached for your review. <br />\\ CLCSRVOI \HOMEVessicai\Agenda\Agenda May 5 \Tax 1 <br />Page 52 <br />