6.1 .--(./ �"� ITEM # 6. 1.
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11River
MEMORANDUM
TO: Planning Commission
FROM: Paul Steinman, Director of Economic
Development
DATE: November 24, 1998
SUBJECT: Tax Increment Finance District No. 9 -
Budget Modification
Issue
Staff is, under the direction of the Economic Development Authority and City
Council, undertaking a budget modification for Tax Increment Financing
District No. 9 - Tescom. As with the creation of any new tax increment
district and modification of budgets within existing tax increment districts,
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the Planning Commission is required to review and act upon the issue of
whether the use within the proposed or existing tax increment district is
consistent with the general plans for the development and redevelopment of
the city, and conforms to the comprehensive plan of the city.
TIF District No. 9 is located in the Elk River Industrial Park encompassing
parcels owned and utilized by Tescom Corporation, a manufacturer of high
purity controls valves. The property is zoned and guided light industrial. In
staffs opinion, the current use conforms to the zoning, land use, and
comprehensive plan of the city.
Recommendation
Staff recommends approval of Resolution 98- 4 Finding that the
Modification to the Budget For Tax Increment Financing District No. 9
Conforms to the General Plans for the Development and Redevelopment of
the City.
s:eda/tif/perpttf9
III
13065 Orono Parkway • P.O. Box 490 • Elk River, MN 55330 • TDD &Phone: (612) 441-7420 • Fax: (612)441-7425
• RESOLUTION 98 - 4
CITY OF ELK RIVER, MINNESOTA
RESOLUTION OF THE CITY OF ELK RIVER PLANNING
COMMISSION FINDING THAT THE MODIFICATION TO THE
BUDGET FOR TAX INCREMENT FINANCING DISTRICT NO. 9
CONFORMS TO THE GENERAL PLANS FOR THE
DEVELOPMENT AND REDEVELOPMENT OF THE CITY
WHEREAS, the City Council for the City of Elk River, Minnesota (the
"City") has proposed to adopt a modification to the Budget for
Tax Increment Financing District No. 9 and has submitted
such Modification to the Elk River Planning Commission (the
"Commission") pursuant to Minnesota Statutes, Section
469.175, Subd. 3; and,
WHEREAS, the Commission has reviewed such Modification to determine
its consistency with the general plans for the development and
redevelopment of the City as described in the Comprehensive
Plan for the City.
• NOW, THEREFORE, BE IT RESOLVED by the Commission that such
Modification is consistent with the general plans for the development and
redevelopment of the City.
Passed and adopted this 24th day of November, 1998.
Tom Mesich, Chair
ATTEST:
Sandra A. Peine, City Clerk
S