Laserfiche WebLink
DORSEY & WHITNEY LLP <br /> • <br /> Mr. Michael Morrison <br /> September 21, 1999 <br /> Page 4 <br /> facility for social, recreational or conference purposes it will need to enter into a letter of intent or <br /> binding contract prior to the end of the year with respect to such facility. This amendment does <br /> not affect the City's ability to continue to use tax increment to pay debt service on the bonds <br /> issued for the Community Center. <br /> You should note that the amendment relating to use of tax increment for public <br /> parks or facilities for social, recreational or conference purposes, is a separate restriction from the <br /> restriction on the use of tax increment revenue from the Kenzie TIF District for activities outside <br /> the geographic area of the Kenzie TIF District. If the City enters into a contract or letter of intent <br /> before January 1, 2000 that allows the City to use tax increment revenue after such date to pay <br /> costs of a park or social, recreational or conference facility, increment from the Kenzie TIF <br /> District may only be used to pay such costs if the park or facility is located within the geographic <br /> area of the Kenzie TIF District. <br /> • Should you have any questions concerning this matter, please call me. <br /> Yours truly, <br /> ?rom P. Gilliga <br /> JPG:cmn <br /> cc: William Soth <br />