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~.,(y of <br /> <br />iver <br /> <br /> TO: <br /> <br />,~ FROM: <br />DATE: <br /> <br /> SUB,JECT: <br /> <br />MEMORANDUM <br /> <br />**Item 3.7.** <br /> <br />Mayor & City Council <br /> <br />Paul T. Steinman, Director of Economic <br />Development <br /> <br />December 15, 1997 <br /> <br />Consider Resolution Decertifying TIF <br />District No. 5 <br /> <br />Issue <br /> <br />Tax Increment District No. 5 was created in 1988 to facilitate the Alltool <br />Manufacturing project. This tax increment district is scheduled to be ending <br />on December 31, 1997. The purpose of the attached resolution is to formalize <br />the decertification of this district. <br /> <br />Recommendation <br /> <br />Staff recommends approval of Resolution 97 - __ decertffying Tax Increment <br />Financing District No. 5, lying within Development District No. 1 in the City <br />of Elk River. <br /> <br />f:\shr doc\council\tif5mm.doc <br /> <br />13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · TDD & Phone: (612) 441-7420 · Fax: (612) 441-7425 <br /> <br /> <br />