Laserfiche WebLink
development of an eighty-five thousand (85,000) square foot <br /> manufacturing facility employing up to one hundred seventy-five <br /> (175) people. <br /> <br /> 4. To provide financing for additional public <br /> improvements and other assistance necessary for the continued <br /> development and expansion of the Elk River Industrial Park. <br /> <br /> 5. To provide financing for additional public <br />improvements within the Development District as found by the <br />City Council to be necessary or appropriate to meet the <br />purposes of the Development District. <br /> <br /> 6. To provide opportunities for the development of land <br />within the Development District; <br /> <br /> 7. To provide increased employment in the City; <br /> <br /> 8. To preserve and enhance the tax base of the City; <br /> <br /> 9. To provide maximum opportunity, consistent with the <br />needs of the City, for development by private enterprise. <br /> <br />B. CLASSIFICATION OF THE TIF DISTRICT <br /> <br /> The TIF District will discourage commerce, industry, and <br /> <br />manufacturing from moving their operations to another state by <br />making sites available for those and other uses in the City, it <br />will result in increased employment in the City, and it will <br />result in the preservation and enhancement of the tax base of <br />the City. The TIF District is located entirely within the <br />City's Development District No. 1, a development project <br />undertaken in accordance with Minnesota Statutes Section <br />469.124, et seq. Therefore, pursuant to Minnesota Statutes <br /> <br />~ 469.174, subd. 12, the TIF District qualifies as an economic <br />development tax increment financing district. <br /> <br /> 4. <br /> <br /> <br />