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6.2. SR 01-22-2001City of River TO: FROM: DATE: SUBJECT: M£MORANDHM Mayor & City Council Pat Klaers, City Administrator January 22, 2001 Call Special Meeting for February 5, 2001 Item #6.2. Director of Economic Development Cathy Mehelich has requested a special meeting of the City Council on Monday, February 5, 2001, at 6:00 p.m., to hold a worksession on economic development finance tools. Hopefully all or most of the EDA and HRA can also be available for this worksession. Sid Inman, from Ehlers and Associates, will lead this worksession on basic financing tools and hopefully can also provide an update on recent and possible future legislative changes. The main topics include tax increment financing, tax abatement, and business subsidies. Recommendation It is recommended the council call a worksession on economic development finance tools for Monday, February 5, 2001, at 6:00 p.m., at City Hall. 13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · TDD & Phone (763) 441-7420 · Fax (763) 441-7425