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Sherburne Counfy Response <br /> <br />SHERBURNE COUNTY'S RESPONSE TO THE CITY OF ELK <br /> RIVER'S TAX INCREMENT FINANCING FOR <br /> (REDEVELOPMENT) DISTRICT NO. 19 <br /> The County of Sherburne, in response to the request for input on the Tax Increment <br /> Financing District No. 19, offers the following concerns as to the proposal: <br /> <br />Generally, the County of Sherburne does not favor the use of tax increment <br />financing for a proiect that is proposed for commercial/retail use. The County <br />has historically i~avored the use of the increment for industrial base. <br /> <br />ISSUE I. THE COUNTY BELIEVES THAT AMPLE SPACE IS PRESENTLY <br />AVAILABLE FOR COMMERCIAL USE. <br />Over 100,000 square feet of commercial space is available in the City of Elk River in <br />the old shopping mall. The shopping mall, as you are well aware began as a tax <br />increment financing district. The year that the development agreement lapsed was the <br />same year that the County was served with a tax appeal for the decrease in the value of <br />the same (which was agreed to based upon the significant vacancy rate.) By <br />implementing this project, it would place the old mall in direct competition for the <br />lease of space. The old mall would continue to remain under utilized and not attain its <br />true value. <br /> <br />ISSUE II. THE COUNTY BELIEVES THAT THERE ARE AMPLE <br />RESTAURANTS AND CONVENIENCE STORES TO SERVICE THE <br />POPULATION. <br />By count, the County has identified ten convenience stores for service to the public, <br />including a number of businesses that are owned and operated by the residents of the <br />City. Further, the County has identified 25-26 restaurants that service the population, <br />including two which have been recently vacated; namely, the Wendy's and Bagel Place. <br />The third recent vacancy will soon be filled with a new Chinese restaurant. Therefore, <br />the County is of the impression that there are sufficient restaurants. <br /> <br />ISSUE III. THE COUNTY BELIEVES THAT THERE IS GLUT OF <br />SUPERMARKET SPACE IN THE COMMUNITY. <br />The County has, within the last year, been involved in two tax appeals for involving <br />supermarkets. Based upon the information gathered, the County determined that the <br />market literally has too many square feet of supermarkets to service the population <br />base. <br /> <br />Page 1 <br /> <br /> <br />