2006.03.20 EDA Packet - Laserfiche WebLink

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NO CITY OF HUGO HUGO CITY HALL, 14669 FITZGERALD AVE. N. HUGO, MN 55038 (651) 762-6300 FAX (651)426-2859 March 10, 2006 Dear Hugo property owner: The City of Hugo is considering the establishment of a Tax Increment Finance District pursuant to Minnesota Statutes Section 469.174 to 469.1799 to assist in financing the implementation of the downtown redevelopment plan. You are in receipt of this letter because your property lies within the boundaries of the proposed Tax Increment Finance District. Please note that the establishment of this District is intended to assist private enhancement of property, and does not involve City initiated acquisition of property through eminent domain. Part of the statutory requirements of establishing a Tax Increment Finance District is that a percentage of the buildings within such district are required to meet specific statutory requirements. An interior/exterior inspection of your property will assist the City in meeting these requirements. The purpose of this letter is to request access to your building to complete the interior inspection. Please respond by returning the enclosed card indicating your approval/denial of this request. It is important that we be able to complete the inspection of your property in order to qualify for the proposed Tax Increment Finance District however, you are not required to allow the inspection. If you feel it is in your best interest to increase the potential for redevelopment of your property, then it may be advantageous to allow the internal inspection to provide the City with the most accurate information toward addressing the statutory requirement. Please consider that the inspection will not impact your property taxes and will not result in any requirements for you to make improvements to your property. Should the statutory requirements be met and a Tax Increment Finance District be established, there is still no guarantee that redevelopment will occur on your property, as that depends on your wishes for the property and your willingness to participate. If you are inclined to allow an internal inspection but are concerned about the City conducting such inspection, arrangements may be made to have the inspection completed by a private company. The most accurate approach to meeting the statutory requirements is to complete an internal inspection, however, if such inspection is not allowed, the City will have to make building condition assumptions using any internal records we have in conjunction with comparing your building(s) to other similar buildings in the general area.