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December 1, 2014 <br /> Dennis Walaker, Mayor <br /> City of Fargo <br /> 200 3'd Street North <br /> Fargo, ND 58102 <br /> Dear Mayor Walaker: <br /> The Cass County Commission appreciates the opportunity to review the updated <br /> Renaissance Zone (RZ) materials and is submitting this letter in support of the City's <br /> efforts to obtain a 5 year extension of the program. <br /> From the Commission's perspective, over the last 15 years the Renaissance Zone <br /> program and the applicable incentives have been an important catalyst to downtown <br /> revitalization, economic development and investment in Fargo's historic downtown <br /> core.The tax incentives have been a critical element in attracting investment and the <br /> program has also been an integral part of marketing the downtown core to potential <br /> investors,developers, businesses,entrepreneurs and residents. <br /> As noted in City data,since 1999 property values in the downtown core have increased <br /> substantially and the RZ program has been a key factor in helping to facilitate this tax <br /> base growth.The data also shows that completed RZ projects have produced upwards <br /> of$115 million in improvements in the downtown core which ultimately contributes <br /> to increased tax revenue generation. It is apparent that the RZ program has been <br /> highly successful in Fargo and that it continues to produce a significant Return on <br /> Investment(ROI)for the community and the State of North Dakota. <br /> The Commission acknowledges that the city is seeking a 5-year extension of the <br /> program and as part of this effort the City is required to update the RZ Development <br /> Plan in addition to securing a letter or resolution of support from other major taxing <br /> entities affected by the tax incentives. It is the opinion of the Cass County Commission <br /> that the Renaissance Zone has been an important and successful program in Fargo and <br /> therefore the County strongly supports the City of Fargo application for re-designation <br /> as a Renaissance Zone. <br /> The Cass County Commission requests that this letter of support be submitted and <br /> filed with the City of Fargo application. <br /> Sincerely, <br /> Chad Peterson, Chairman <br /> Cass County Commission <br />