EDA RES 26-03of
ver
The Economic Development Authority for the City of Elk River
Resolution 26-03
A Resolution of the City Council of the City of Elk River supporting the modification of the
Development Program for Municipal Development District No. I; the creation of Tax Increment
District No. 30 with Municipal Development District No. I; and the adoption of a Tax Increment
Financing Plan therefor.
WHEREAS, on April 6, 2026, the City Council (the "City Council") of the City of Elk River, Minnesota (the
"City") will consider adopting a Modification to the Development Program (the "Development Program
Modification") for the City's Municipal Development District No. 1 (the "Development District') and a Tax
Increment Financing Plan (the'TIF Plan" and together with the Development Program Modification, the
"Plans") for Tax Increment Financing District No. 30 (an economic development district) (the "TIF District"),
located within the Development District which includes the Property, all in accordance with Minnesota
Statutes, Sections 469.124 through 469.133 and Sections 469.174 through 469.1794, all as amended (the
'TIF Act").
WHEREAS, Crystal Distribution Inc., a Minnesota corporation, or an affiliate thereof or entity related
thereto (collectively, the "Developer"), has requested tax increment financing assistance in connection
with the proposed acquisition of property and the development of an approximately 45,000 to 55,000
square foot expansion to the Developer's manufacturing business in the City (the "Project").
WHEREAS, the proposed Plans have been presented to the Board and the Board has reviewed the
Plans and the Developer's proposal for the Project and information regarding the proposed tax
increment financing assistance.
WHEREAS, the City will consider providing tax increment financing assistance to the Developer for the
Project.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority for the City of Elk River,
Minnesota, as follows:
The Authority supports the Plans and the use of a portion of the tax increment generated from
the TIF District to assist the Developer with financing a portion of the extraordinary
development costs of the Project.
2. The Authority supports the creation of the TIF District and the adoption of the Plans; provided,
however, that final authorization of tax increment financing assistance for the Project
contemplated in the TIF Plan is solely within the discretion of the City Council following all
proceedings required pursuant to the TIF Act.
Passed and adopted this 16 day of March. 2026
Ma4nelw Westgaar , Pr4ident
ATTEST:
Recording Secretary