MVM ltr B. Isenhart TIF fundingCity Manager's Off[ce
50 Wee, t 13Lb $~reet
Dubuque, Iowa 520014864
(319) 5894110
(319) 58943.49 FAX
March 5, 2001
Mr. Bud Isenhart
8908 Quail Ridge Court
Dubuque, IA 52003
Dear Bud,
I owe you an apology. When you presented to the City Council that Tax Increment Financing
impacted the Dubuque Community School District, I represented that most of their levy was
replaced by the State. I received the attach information from Business Manager Joe Link that
shows 50. i % is replaced by the State.
I was not intending to mislead, I thought that over 90% was replaced. I obviously was ;vrong.
Please accept my humble apology.
Sincerely,
Michael C. Van Milligen
City Manager
MCVM:jh
Enc.
Cc: Mayor Terry Duggan
City Council
Barry Lindahl, Corporation Counsel
Pauline Joyce, Administrative Services Manager
Ken TeKippe, Finance Director
Service People Integrity Responsibility Innovation Teamwork
,. HAR-04-01 SUN 10:48 A~ DUBUSUE O0~UNI?Y ~HO0~ Fax NO, ~i~ooo~
With TIF Di~i~ l~ucl~t
T~tion ofTIF Dt~I~,t Valum~on
$ 48,24
48,241.874 Un~ at $ ! ,000 AV
48,241 .~174
. $ .516,707
~ T~
$ 25~8~ ~ ~ 8~ Aid
S 25%S~
U~timated onl~ based on ~urrent Aid a~l L~ ~o~kshe~s
Rolll~mk Famors
2000--2001 54.8525%
2001-2002 5,23720%