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ID D <br /> 2200 FIRST NATIONAL BANK BUILDING <br /> 332 MINNESOTA STREET <br /> SAINT PAUL,MINNESOTA 55101 <br /> TELEPHONE(651)223-6600 <br /> BRIGGS AND MORGAN FACSIMILE(651)223-6450 <br /> PROFESSIONAL ASSOCIATION WRITER'S DIRECT DIAL <br /> (651) 223-6420 <br /> • WRITER'S E-MAIL <br /> September 22, 1999 <br /> Bruce Kessel <br /> Mounds View City Hall <br /> 2401 Highway 10 <br /> Mounds View, Minnesota 55112-1429 <br /> Dear Bruce: <br /> At the recent meeting at City Hall we discussed the 1997 definition of"tax increment" <br /> which was added to the tax increment law,particularly as it pertains to investment earnings <br /> on tax increment and on whether or not proceeds from the sale or lease of property need to <br /> be classified as tax increment. <br /> I'm enclosing a portion of a memorandum I prepared, dated July 24, 1997, <br /> summarizing tax increment changes in that year. In this regard,I'm also enclosing page 12 <br /> of materials which were prepared by the Office ofthe State Auditor addressing some of these <br /> same issues. These materials are from the manual which was passed out at the State <br /> Auditor's seminar on tax increment financing last fall. <br /> Please call if you have any follow up questions in these regards. <br /> Y s very truly, • <br /> ames P. O'Meara <br /> JPO jvs. <br /> Enclosures <br /> 1088695.1 <br /> MINNEAPOLIS OFFICE•IDS CENTER■WWW.BRIGGS.COM <br /> MEMBER-LEX MUNDI,A GLOBAL ASSOCIATION OF INDEPENDENT LAW FIRMS <br />