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MEMORANDUM <br />TO: Joe Chlebeck <br />FROM: Dan Wilson <br />DATE: 28 July 1987 <br />RE: Development District Boundary Changes <br />FILE NO: 758.15 <br />northwest <br />associated <br />consultants, inc. <br />WITS-9420 <br />4AXXXXAgITIMAKX4NOIMXIMW minneapolis, mn 55416 <br />4601 Excelsior Blvd. #410, <br />After the Council meeting last Wednesday, Mr. Voto questioned our methodology <br />to establish the Thunder Bay District. My understanding of the Council action <br />was to approve and certify the Thunder Bay TIF District #1 as previously <br />prepared. The City now has the authority to complete the acquisition of the <br />Wright property. <br />The Council also opted to give themselves the option to utilize surplus Thunder <br />Bay funds in the future. In order to accommodate this, the Development District <br />Boundaries must be enlarged. The specific boundaries were not determined. We <br />are to return to the next Council meeting with our recommendation. The Council <br />wanted the revised Development District Boundaries to include more than just <br />the existing seven development districts. <br />Once the boundary decision is made we will prepare the amended Development District <br />Plan. That will require another Public Hearing. It will not require notifying <br />the County or School District. That requirement only applies to TIF Districts. <br />The manner in which we proceeded is consistent with the TIF statutes. The <br />City has four years in which to modify the boundaries. Our approach is also <br />acceptable to Ms. Mary Ippel, with Briggs & Morgan, the City's Bond Counsel. <br />I spoke with her again today. She is aware of what is going on and approves <br />our approach. <br />If we would have abolished the Thunder Bay project and started all over, we <br />would have possibly run into problems. Without approving the District, it is <br />questionable if we would have the authority to acquire the Wright property with <br />the expectation of later collecting tax increments. <br />The City now has the best of both worlds. The Wright property can be acquired <br />and steps have been initiated to utilize future surpluses. <br />CC: Bob Voto <br />David Licht <br />DW /jj <br />Page 17 <br />WHITE - ORIGINAL YELLOW - FILE COPY PINK - C FILE <br />3r (7)' a ,;7i <br />D <br />1987 <br />