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Draft letter to TIF property owners <br /> Dear <br /> As you may be aware, the City of Hugo has begun implementation of the downtown <br /> redevelopment plan. This is an exciting time which marks the start of an important phase in the <br /> life cycle of our City. Implementation of the downtown plan will lead to business and housing <br /> diversity, economic stabilization, and the creation of a central focal point of the community. <br /> The purpose of this letter is to invite you to an open house scheduled for . The <br /> purpose of the open house is to provide a more detailed explanation of the downtown plan and <br /> the process of implementation. The following topics will be covered: <br /> You are specifically invited to attend because your property at lies within an <br /> identified downtown redevelopment boundary. <br /> If you have questions regarding this or any other downtown plan issues, please feel free to call <br /> City Hall at <br /> Optional Paragraph: <br /> Tax Increment Financing is a public financing tool designed by law to assist in the <br /> implementation of redevelopment plans for downtowns. It is anticipated to be one of a number <br /> of complex tools utilized by the City to successfully implement the downtown plan. Part of the <br /> process of using this tool includes requesting that in an internal inspection be conducted to <br /> identify issues which allow the qualification of the parcel in a Tax Increment Financing District. <br />