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<br />EHLERS <br />t_..! <br />The new projects could be: <br />• Office building <br />• Retail shops <br />• Manufacturing facility <br />* Hotel or tourist destination <br />Housing could also be included in the project, but could not count toward the " 3x" rule. <br />For example, if the original C/I building is 5,000 square feet, then the completed development could <br />be 15,000 square feet of retail space with townhomes adjacent to it. <br />T r'?. <br />No. The district as a whole, when all construction is completed, must contain C/I buildings which <br />triple the square footage of all the original C/I buildings in the district. <br />~`J ._ ! t.[~ 't v ? . ~ ;~ ~ ~ ~` Cr°~ ~ I ~~ ;~ #~ ~ ; l tai v i,~ `5 .. .~ ~ w f f <br />Increment from the new Compact Development Districts can be used to pay for: <br />• land acquisition <br />• demolition <br />• site preparation to land in or abutting the district <br />• administrative expenses <br />• public infrastructure excluding streets, parking, or other public improvements primarily <br />designed to serve private motor vehicles. <br />It appears that parking ramps may only be eligible for tax increment financing from Compact <br />Development Districts if the ramps are "Park and Rides" associated with public transit. Ultimately, <br />your attorney will determine which costs are legal uses of tax increment. <br />~~~ 'yi,'~ ~.'~'' I~~"£':?"i ~-i~ ~ p~.c~~ Tom; ~~~v ~~?`~5~~°E~~:i1G ~~'~~~ ?~S~ <br />No. Tax increment cannot be used to pay for public land, public buildings, streets, or most parking. <br />Increment may be used to pay for public costs associated with a private construction project, such as <br />utility connection fees, sidewalks, or storm water ponds. <br />No. Only request for certification must occur by June 30, 2012. Your attorney will need to <br />determine if the five- year rule applies, which would necessitate all projects that receive assistance <br />to be initiated within five years of the certification date. <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 />i~ ~ ;~...,'..~~.~, <br />1EADERS IN PUBIIC FINANCE <br />_ ~,_ 651-697-8500 3{?BD Genire Points C3rr~e <br />Offices aGso in wiscott~in and iNinais 653-697-8555 Ro~vr~is~ M1ji 55113-1'fi2~ <br />8{10-5:52-'1171 <br />