Laserfiche WebLink
� <br /> MEMORANDUM <br /> DATE: June 21, 1999 <br /> TO: Mayor and Councilmembers <br /> FROM: Michael Mornson, City Manager <br /> ITEM: TAX IMPACT STUDY FOR POSSIBLE PURCHASE OF <br /> SALVATION ARMY PROPERTY <br /> Attached is the tax impact study that Springsted completed for the City and <br /> School District. <br /> Following is a brief summary of Springsted's findings: <br /> 1. A referendum would be required. <br /> 2. The School would have to hold the referendum because they have more <br /> capacity - $40 million to the City's $6 million. <br /> 3. The impact on property valued at $150,000 would be $413 per year for <br /> 20 consecutive years. This assumes a $14 million referendum to <br /> purchase the property. <br /> If you have any questions, feel free to contact.me. <br />