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AC. ECONOMIC DEVELOPMENT AND lOB CREATION <br /> <br />To the extent applicable, the City agrees to comply with Minnesota Statutes,, Section 116J.991, <br />which states that a business receiving state or local government assistance for economic <br />development or job growth purposes, including tax increment financing, must create a net increase <br />in jobs and meet wage level goals in Minnesota within two years of receiving assistance (See <br />Appendix C). <br /> <br />AD. SUMMARY <br /> <br />The City of Elk River is establishing Tax Increment Financing District No. 17 to preserve and <br />enhance the tax base, to develop underutilized areas, and increase employment of the City. The <br />Tax Increment Financing Plan for Tax Increment Financing District No. 17 was prepared by the <br />City of Elk River, 13065 Orono Parkway, Elk River, Minnesota 55330, telephone (612) 441-7420. <br /> <br />Tax Increment Financing District No. 17 Page II-16 <br /> <br /> <br />