5.6. SR 05-13-1996ITEM 5.6.
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MEMORANDUM
iver
FROM:
DATE:
Mayor & City Council
Pat Klaers, City Adminis/~fftor
May 13, 1996
SUBJECT: Request for TIF Assistance from
McChesney Cabinets
Introduction
At the May 13, 1996, meeting, the City Council will be asked to schedule a
public hearing to consider a tax increment financing (TIF) plan for the
creation of a new TIF District. A public hearing to consider the TIF plan is
requested for either June 10 or June 17, 1996.
Background and Timetable
This request is discussed in detail in the EDA material that will be
considered earlier in the evening on May 13, 1996. There is no need to repeat
this narrative in this memo as four of the five Councilmembers are on the
EDA and the one who is not on the EDA, Councilmember Dietz, also receives
an EDA packet. Accordingly, the discussion on this topic at the EDA meeting
should provide sufficient background on this proposal.
Below is a proposed City Council timetable to complete the McChesney
Cabinets request for TIF assistance:
May 13 -
City Council establishes a public hearing date to consider
TIF plan. (The preparation of TIF plan is authorized by
the EDA.)
Mid May - TIF plan is sent to School District and County Board for
review.
May 21 - County Board review.
May 28 -
School Board review
Planning Commission review
May 29 -
EDA and City Council TIF public hearing notices are
published in Star News
13065 Orono Parkway ° P.O. Box 490 ° Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425
June 10 - EDA conducts public hearing and adopts TIF plan
June 10/17 - City Council conducts public hearing on TIF plan.
Action Requested
The City Council is asked to schedule a public hearing for either June 10
(special meeting) or June 17, 1996, to consider a TIF plan for TIF District
No. 15 for McChesney Cabinets.
council:tifmcche