7.1 SR 04-19-2021Request for Action
To
Item Number
Mayor and City Council
7.1
Agenda Section
TMeeting Date
Prepared by
Public Hearing
Aril 19, 2021
Colleen Eddy, Economic Development Specialist
Item Description
Reviewed by
Tax Increment Financing District No. 27
Cal Portner, City Administrator
Reviewed by
Action Requested
Open and continue the public hearing to consider comment on the proposed establishment of Tax Increment
Financing District No. 27 (Riverwalk Apartments Pro)ect) to the May 3, 2021 City Council meeting.
Background/Discussion
Staff was directed at the March 1, 2021, Work Session to obtain a third -party appraisal, in accordance with city
policy, of the property located at 17354 Zane Street, Elk River, as well as financial documents.
As of the publishing of the packet, staff has not received this information and are requesting the City Council to
open the public hearing and continue it to the May 3, 2021, City Council meeting.
Financial Impact
N/A
Mission/Policy/Goal
The City of Elk River shall utilize TIF to encourage desirable development or redevelopment that would not
otherwise occur butforTIF.
Attachments
■ N/A
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional,` 01 e
service, and community engagement that encourages and inspires prosperzly INAMIRE1