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. , _. <br />... r .., <br />,, _ ,~. ~1 <br />There are several ways increment could spur development on improved lots. For example, you <br />could: <br />• Pay for special assessments or improvement costs, thereby making the lots more <br />affordable <br />• Provide down payment assistance or gap financing to the homeowner <br />• Provide construction financing to a builder <br />• Write down the interest cost on the builders construction loan <br />Remember, the lots you assist must have homes under construction by July 1, 2011. <br />. , __ ~, - <br />Increment could be used to make low-interest or forgivable loans to home-owners, rental <br />property owners, or a businesses that will substantially renovate their property. If the loans are <br />repaid, the repaid amount is still considered tax increment and will need to be accounted for in <br />the district. <br />No. Existing cash balances and increment collected through December 31, 2011 must be used. <br />No new authority for bonds or interfund loans is allowed. There are techniques for freeing up <br />tax increment cash flow to use as much tax increment funds as possible before the end of 2011. <br />The authority must adopt a written spending plan that specifically authorizes the assistance. This <br />plan must be adopted following a public hearing. A notice of the public hearing must be <br />published in a newspaper of general circulation at least once and not less than 10 days and not <br />more than 30 days prior to the date of hearing. <br />Contact your Ehlers Financial Advisor at 651-697-8500. (A list of Minnesota Financial Advisors <br />and their direct dial numbers can be found under the Contact Us tab at the top of our website at <br />www.ehlers-inc.com) <br />EHLER <br />LEAOfRS IN PtlBLIC FINANtf <br />3int~t~ ~~sr?~ 651-697-85{30 <br />~fftees alp ~ Wisconsin ~ i~inois # 651-697-8556 <br />t~l{ ~~ 800-552-1171 <br /> <br />3t36U Centre Pointe i}rive <br />f~cssf~le, MN 55113 •~ 122 <br />