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<br />Under the law, the assistance may be provided as a: <br />~ Direct loan <br />® Grant <br />® Interest rate subsidy on developer's private financing <br />® Reimbursement to the City for public improvements, i.e. utilities and storm water <br />improvements. <br />,-~ _ -, <br />,. <br />._,- ~ , ~~ <br />~_> ,, <br />;mod .. _:~.. _., ~_:_ .. _._ ~ :, <br />No. Tax increment cannot be used to pay for public land, public buildings, or recreational <br />facilities. Increment MAY be used to pay for public costs associated with a private construction <br />project, such as utility connection fees, sidewalks, public parking, or storm water ponds. <br />.-,F; <br />Yes. The Jobs Bill did not extend the term of Economic Development Districts. <br />Yes, for recent districts. The provisions in the new law apply to any Economic Development <br />District for which the request for certification was made after June 30, 2009. An existing district <br />may need to be modified to reflect the legislative changes so check with your TIF Attorney. <br />_ r^~ C, _ _ f f ~ f"S <br />4` ~?` i ~ a t..d t..J C; ~ s,,, l •.,.7 ~ ~J i`: . ~ 4~ `J ~; E ~ ~.:.. ~ , € u z ~ ~., ~..~ , e § ~;"..~ . ~ <br />In the approving resolution for the district, the municipality must make the following two <br />findings: <br />1. The project will create or retain jobs in the state, including construction jobs; and <br />2. The project would not have started construction by July 1, 2011 without tax increment <br />assistance. <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 />E~LFRS <br />• lEAgERb iN PUBLit FI~IANCf <br /> <br />~$; ., _ z~~~ s51-ss7-85~ centre Porne <br />Offices also ~ Wisconsin ark urnois ~~ ts51-6~7-8555 Rosevit~, f~iP155118-1'122 <br />' tl frame 80[1-552-1171 <br />