HomeMy WebLinkAbout[06a] TIF Disbursement: First Half Tax Settlement • CITY OF ST. JOSEPH
www.cityofstjoseph.com
DATE: July 16, 2014
MEMO TO: Economic Development Authority
Administrator FROM: Cynthia Smith-Strack Municipal Development Group
Judy Weyrens
RE: Disbursement of TIF Payment: Millstream Shops/Lofts &St. Joe Meat Market
Mayor
Rick Schultz Background
The City has received the initial settlement for 2014 property taxes.The initial settlement includes
Councilors revenue for TIF 2-1 (Millstream Shops/Lofts)and TIF 2-2(St. Joe Meat Market).
Steve Frank
Bob Loso Finance Director, Lori Bartlett has processed the payment and requests approval of the following
Renee Symanietz disbursements:
Dale Wick
a. TIF 2-1 — Millstream Shops/Lofts (payment to lender assigned: $19,912.75 (i.e. 90% of
EDA increment received).
Doug Danielson
Steve Frank b. TIF 2-2—St. Joe Meat Market (payment to property owner) in the amount of$1,911.07
Larry Bosch (i.e. 95% of increment received).
Gary Osberg
Dale Wick
Action:
A MOTION to approve the disbursement request for TIF 2-1 in the amount of$19,912.75 and TIF
2-2 in the amount of$1,911.07 is in order.
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July 25,2014
MinnWest Bank
3130—2nd Street S
PO Box 7429
St. Cloud,MN 5630-7429
RE: TIF 2-1,Millstream Shops& Lofts,Tax Settlement
Dear Sir or Madam:
In accordance with the Tax Increment Financing Agreement with the City of St.Joseph,
enclosed is a payment in the amount of$ 19,912.75 for the first half tax settlement in 2014.
This represents 90%of the increment received from the district as noted in the Development
Agreement.
If you have any questions or need additional information please feel free to contact me at
320-363-7201.
Sincerely,
CITY OF ST. JOSEPH
Lori Bartlett
Finance Director
cc: St.Joseph EDA
File(Tax Increment Financing—District 2-1,Payments,1s'Payment 2014)
July 25,2014
Harvey and Carol Pfannenstein
26— l'Avenue NW
PO Box 40
St. Joseph,MN 56374
RE: TIF 2-2,St.Joseph Meat Market,Tax Settlement
Dear Sir or Madam:
In accordance with the Tax Increment Financing Agreement with the City of St.Joseph,
enclosed is a payment in the amount of$ 1,911.07 for the first half tax settlement in 2014.
This represents 95%of the increment received from the district as noted in the Development
Agreement.
If you have any questions or need additional information please feel free to contact me at
320-363-7201.
Sincerely,
CITY OF ST. JOSEPH
Lori Bartlett
Finance Director
cc: St.Joseph EDA
File(Tax Increment Financing—District 2-2,Payments,1'Payment 2014)