HomeMy WebLinkAbout1989-11-13 NAC File Memorandum Re County Assessor Phone Call MEMORANDUM
TO: FILE
FROM: Dan Wilson
DATE: 13 November 1989
RE: Oak Park Heights - St. Croix Mall TIF
Scott Renee, County Assessor Phone Call
FILE NO: 798.02 - 89.09
I called Scott to see if I could arrange a meeting to discuss a
resolution of this problem. Scott said he was meeting with Brad
Henning at 1:30 today.
I suggested to Scott that it was appropriate to use a "class
wide" adjustment factor; that no one can really say that they
would expect the Mall property to continue to experience a 23%
growth rate over the next ten years.
Scott agreed. Scott said that he felt the intent of tax
increment financing has been carried out with the St. Croix Mall
project. He said that they really have rejuvenated a stagnant
commercial property. He said that it has impacted the area's
commercial market. He said that he has spoken with a shopping
center manager of another center who said that interest in
commercial space picked up as soon as the Herberger's deal was
announced.
Scott asked who made the decision to go with an area wide
commercial adjustment factor. I said he was the person. He had
not been aware of this fact.
Scott said that he intended to check more closely into this to
cover his office's position. He said his intent was to check and
see what an area wide number would be and then use a defensible
number other than the 23 %.