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MAR. 30. 2011 10: HAM CITY OF ELK RIVER' NO. 8470 P. 1/2 <br /> -, )c <br /> River <br /> 13065 Orono Parkway <br /> 1Ok River,MN 55330 <br /> Match 30,2011 <br /> LeRoy Lindenfelser <br /> The Bank of Elk River <br /> 630 Main Street <br /> Elk River,MN 55330 <br /> In February 2006,the City of Elk River approved$300,000 of Tax Abatement assi Lance to The <br /> Bank of Elk Rivet. As a requirement of receiving such assistance the company is r tluired to meet <br /> the job and wage goals noted below within 2-years of the Certificate of Occupancyyissued September - <br /> 13,2007. <br /> Create at least 20 full time jobs in connection with the development a f the <br /> • Development Project at a wage of at least$15.00 per hour,which incl Ides <br /> benefits not requited by law <br /> An extension of 2 years was granted to allow for the goals to be met by Septembex11l3,2011 <br /> however,an update on the status of your job and wage goals is required by the Citj of Rik River and <br /> the State of Minnesota on an annual basis until the goals are met. Therefore,pleasI~complete the <br /> attached chart and fax this information tome at 763.635.1090 as soon as possible. <br /> Thank you for your attention to this matter. Please contact me with any questions'iat 763.635.1041. <br /> Sincerely, <br /> Catherine Mehelich <br /> Director of Economic Development <br /> Enclosure: 2011 Minnesota Business Assistance Form <br /> 1 <br /> Phone:763.635,1000 ' <br /> Fax:763.635.1090 <br /> wwwclelk-rlvarmn.us <br /> Ii <br />