HomeMy WebLinkAboutCC RES 99-041 A RESOLUTION APPROVING SPRINGSTED TO PERFORM A TAX IMPACT STUDY Meeting Sheet
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104903
Box: 31
Folder: RES 1999
Document: CC RES 99-041 A RESOLUTION APPROVING SPRINGSTED
TO PERFORM A TAX IMPACT STUDY
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CITY OF ST. ANTHONY
RESOLUTION 99-041
A RESOLUTION APPROVING SPRINGSTED TO PERFORM A
TAX IMPACT STUDY
WHEREAS, the St. Anthony City Council desires a tax impact study to be done which will
review and analyze the tax impact of the School District and/or the City
purchasing property owned by the Salvation Army within the City of St.
Anthony; and
WHEREAS, the financial advisory firm of Springsted has submitted a proposed work plan for
said study.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of St. Anthony
• hereby approves Springsted to develop a tax impact study relating to the possible purchase, by
the City and Independent School District #282, of the Salvation Army Camp site on behalf of
the City of St. Anthony.
Adopted this ,Z S day of Mn J , 1999.
Mayor
ATTEST:
City Clerk
Reviewed by Administration:
City danager
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85 E.SEVENrH PLACE,RM 100
SAINT PAUL,MN 55101.2887
6SI-223-3000 FAX:651.223.3002
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SPRYNCSTED
Public l imme Advisors
May 14, 1999
Mr. Warren J. Rolek, Superintendent
St. Anthony-New Brighten Schools
3303-W Avenue N.E.
Minneapolis, MN 55418
Mr. Michael J. Morrison, City Manager
Saint Anthony Village
3301 Silver Lake Road
St. Anthony, MN 55418
Re: Tax Impact Study
Dear Mr. Rolek and Mr. Momson:
• Based on our recent discussion, we are providing you with a proposed work plan for a tax
Impact study for the St. Anthony-New Brighten Schools and Saint Anthony Village. Using this
work plan as an outline, we propose a cooperative effort with you in developing a tax impact
study that will benefit the School District and the City.
The objective of this study is to review and analyze the tax impact of the School District and/or
the City purchasing property currently owned by the Salvation Army. It is anticipated the project
will be provided in two phases. In the first phase of the impact study we will review the capacity
of each entity to finance the project and the impact of such financing. The second phase of the
study will identify alternatives for the usage of the property and outline the impacts of such
uses.
The scope of this work will be limited to the first phase of the proposed work plan subject to
further direction from the School District and City to continue further analysis as outlined in
Phase Two.
We look forward to assisting you in this project. Thank you for your consideration.
rely,
a ,
L
Robe istle John M. Maas, Senior Vice President
Senior Vice President Client Representative
• Copy: Mr. David L Wettergren, Consultant, Management Services
Ms. Susan Mershon, Project Manager, Management Services
&UNT PAUL.MN • HNNLOQU3,MN • BROO aMAvA • ovF,EtAND PM,KS - WA9WCFrON,DC • DES MOM,lA
ST. ANTHONY-NEW BRIGHTEN SCHOOLS
• SAINT ANTHONY VILLAGE
Tax Impact Study
Work Plan
Objective
The objective of the first phase of this study is to develop an analysis that outlines the
impacts on the School District and City to acquire property currently for sale by the Salvation
Ancor. A second phase of the study Is to identify and outline options for use and
development of the property by the School District and City.
Tasks
Phase One
• Obtain and review relevant infonnation to be included in study.
• Review current debt levels and debt capacities for each jurisdiction.
• Identify and outline financing options available to each jurisdiction for purchase of the
Salvation Army property; options would include three to four levels of acquisition costs.
• • Analyze potential debt and levy requirements for financing for each option.
• Illustrate the tax Impacts that the identified capital investment and financing has on each of
the participating jurisdictions and their citizens.
Phase Two-
* Identify options for potential use of all or a portion acquired property.
• Recreation Facility
• School Facility
• Development
• Analyze impacts associated with use altematives.
Outcomes
• Prepare a draft tax impact analysis, Phase One, for the School District's and City's review
and comment.
• Incorporate the School District and Citys comments into the plan.
• Present Phase One final report.
Continue with Phase Two as directed.
•
%propmal.doo
St. Anthony-New Brighten School District/Saint Anthony Village
Tax Impact Study
Page 2
• Compensation
We propose to bill on an hourly basis; however, our fee for services to complete Phase 1 of the
study, exclusive of any out-of pocket expenses such as travel and copying, will not exceed
$3,150, without prior written authorization of the School District and City. The anticipated date
for completion of the first phase of the work is May 31st. Phase 2 of the study will be billed on
an hourly basis with the estimated cost to be discussed Our standard hourly fee table and
estimated time schedule are shown below.
Estimated Time and Cost
City Capital Financing Analysis
Time
Title Rate (Hrs.) Cost
Review Principal $150 1 $ 150
Client Representative $125 4 $500
Project Manager $ 115 20 $2,300
Support Staff $ 40 5 $ 200
Total $3,150
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