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City of Elk River <br />August 3, 2000 <br />Page 3 <br /> <br />As your financial advisor, Ehlers will help the City by: <br /> <br />Making effective use of development finance tools - minimize local funding <br />needed, minimize risk position of city. <br />Bringing Elk River the lessons learned in other cities - ideas that have worked <br />well and pitfalls to avoid. <br />Making all aspects of tax increment financing work - from the creation of <br />new districts to the management of existing districts to the simplifications of <br />annual reporting (TIF and business subsidies). An important value added in <br />this area is minimizing future State Auditor compliance costs through good <br />planning and data management. <br /> <br />4. Plan for the Future <br /> <br />Only part of our Value comes from creating effective solutions for current projects. <br />Ehlers has proven that cities receive significant value from planning for the future. <br />Planning helps Elk River: <br /> <br />Provide funding for capital improvements without debt - avoiding costs of <br />issuance and interest. <br />Manage changes in property taxes by anticipating future revenue needs and <br />changes in tax base. <br />Make effective use of non-tax revenues. <br />Create long-term funding strategies for services and capital investment. <br /> <br />Ail of these things help you serve the community while making best use of your financial <br />resources. This approach and services are what sets Ehlers apart from all other firms. This <br />value is why Ehlers should be your financial advisor. <br /> <br />Thank you for the opportunity to explain why Ehlers & Associates wants to be financial <br />advisor to the City of Elk River. It would be a privilege to serve Elk River and help you <br />face the challenges that lie ahead. <br /> <br />Best wishes, <br /> <br />cc: Pat Klaers and Lori Johnson <br /> <br />Sid Inman <br /> <br /> <br />