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® Springsted <br /> Springsted Incorporated <br /> Springsted's mission is to provide high quality, 380 Jackson Street,Suite 300 <br /> independent financial and management advisory Saint Paul,MN 55101-2887 <br /> services to public and non-profit organizations, <br /> and work with them in the long-term process of <br /> building their communities on a fiscally sound Address Service Requested <br /> and well-managed basis. <br /> Springsted Incorporated-Corporate Headquarters <br /> 380 Jackson Street,Suite 300 <br /> Saint Paul,Minnesota 55101-2887 <br /> 651-223-3000 <br /> Or call an office nearest you: <br /> California 818-456-4861 <br /> Colorado. 303-893-5800 <br /> Iowa. 515-244-1358 <br /> Kansas/Missouri. 816-333-7200 <br /> Virginia. 804-726-9748 <br /> Wisconsin. 414-220-4250 <br /> For more information about articles,to request <br /> additional copies or to view previous issues,please <br /> visit our website at www.springsted.com <br /> The Springsted Letter is edited by: <br /> Rick E.Yount,Director of Communications <br /> David W.Webber,Executive Assistant <br /> ' � � • " � � � . • • <br /> C_ o E � MA o O9E O@YWOUMWE <br /> eaturing ex erts from the fields of public�finance,+ e�onomi o <br /> erational ►nance, organ►iational man y1ment/huma esou e <br /> HOUSING & ECONOMIC DEVELOPMENT GROUP <br /> The economy has been growing and quite the `refresh button'with policy-making Cities are in a stronger position when <br /> a bit of permit activity has been building boards and be sure sufficient time and they define the parameters they wish to <br /> up over the past few years. As part of resources are budgeted to satisfy the evaluate,and then require the applicant to <br /> that overall real estate activity,cities are required project due diligence. follow their procedures. <br /> experiencing an increase in requests for It is helpful when the developer applicant The sooner cities are able to revisit those <br /> economic development assistance. seeking financial assistance provides application procedures and enforce them, <br /> These requests are demanding staff time and at least some details in a preliminary the more efficient the use of staff time <br /> attention. They also require policy-making financing plan so valuable time is spent will be. <br /> boards to revisit some of their economic only on projects that are real and meet the <br /> development policies and procedures. With city's policy objectives. Arriving at the By Anthony L.Schertler <br /> staff layoffs occurring during the Recession, appropriate level of financial assistance for <br /> many cities need to tighten the process by economic development projects involves Senior Vice President <br /> which they evaluate economic development understanding and challenging various and Consultant <br /> proposals. Now may be a good time to hit development financing assumptions. tchertler@springsted.com <br /> PAGE 6 ® Springsted <br />