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City of Elk River, Minnesota <br />Business Subsidy, Tax Increment Financing and <br />Tax Abatement Policy and Procedures <br />Pre-Session Questions: Summary of Responses <br />Dated: November 4, 2013 <br />I. Strengths <br /> <br />Identify the top three to five strengths of the City; Specifics are not needed; key phrases, ideas <br />and observations desired. <br /> Land availability <br /> Strong community values <br /> Affordability of Land <br /> Proximity to Twin Cities <br /> City owned municipal utilities <br /> Moderate property taxes <br /> Availability of incentives <br /> Location <br /> Quality of life <br /> Small Community atmosphere <br /> Well-managed growth <br /> Business parks <br /> Designated EDA staff <br /> Availability of financial incentives <br /> <br />II. Issues and Challenges <br /> <br />Identify the top three to five issues or challenges of the City; specifics are not needed; key <br />phrases, ideas and observations desired. <br /> Present economic status <br /> High Taxes <br /> High Tax Rates <br /> Regulatory Customer Service <br /> Physical location <br /> Availability of lots with city services <br /> Council is very cautious with use of TIF and tax rebates <br /> Economic development/job creation <br /> Affordable senior housing <br /> Infrastructure including roads, sewer, wastewater treatment <br /> Staff turnover <br /> Shortage of light industrial property <br /> <br />III. Short Term Outcomes (1-3 years) <br /> <br />Identify outcomes and results you want to achieve in the short term (1 to 3 years). In three <br />years what clear and distinct development successes do you want to achieve? <br /> Increase of city tax base