RES 00-02 • ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY
CITY OF ELK RIVER
SHERBURNE COUNTY
STATE OF MINNESOTA
RESOLUTION 00-2
RESOLUTION OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHROITY
RECOMMENDING THAT THE CITY COUNCIL ADOPT THE TAX INCREMENT
FINANCING PLAN FOR THE CREATION OF TIF DISTRICT 21 .
WHEREAS, Tax Increment Financing has been proposed for use in the
acquisition of land for private industrial development in the West Business Park;
and
WHEREAS, the project is proposed at a site which has been identified for
industrial development and which the Economic Development Authority has
been actively marketing for a two and one half year period; and
• WHEREAS, the proposed project meets the Elk River Economic
Development Authority's requirements for the use of Tax Increment Financing as
stated in the Tax Increment Financing Policies; and
WHEREAS, the proposed project contributes to the fulfillment of the City's
Strategic Plan for Economic Development by promoting development in the
West Business Park, expanding and diversifying the City's industrial base, and
creating opportunities for quality employment in the Elk River area..
THEREFORE BE IT RESOLVED, that the Elk River Economic Development
Authority recommends that the Elk River City Council approve at its August 21,
2000 meeting, along with the subsequent Modifications to Development District
No. 1, the Tax Increment Financing Plan for the creation of Tax Increment
Financing District No. 21 .
Approved this day of August 14, 2000.
4.1aPatrick Dwyer, Chair
ATTEST:
de,
Catherine Mehelich, Executive Director