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• <br /> December 31,2009 <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 assistance to The <br /> Bank of Elk River. As a requirement of receiving such assistance the company is required to <br /> establish the job and wage goals—create 20 full-time jobs at a wage of$15/hour,in addition to the <br /> job retention of 63 FIE positions (Elk River location as of April 2006)within 2-years of the <br /> Certificate of Occupancy issued September 13,2007. <br /> • Your request for a 2-year extension was recently approved by the City Council on December 21, <br /> 2009 (meeting minutes enclosed). The approval extends the deadline to meet job creation goals as <br /> specified in the original agreement by September 13,2011. You will still be required to continue to <br /> report progress on job and wage goals annually as requested by the City until the goals are met. <br /> Please contact me with any questions at 763.635.1041. Best wishes for a brighter New Year! <br /> Sincerely, <br /> Catherine Mehelich <br /> Director of Economic Development <br /> Enclosure: 12.21.09 City Council Meeting Minutes <br /> CC: Pat Dwyer,President of The Bank of Elk River <br /> 1110 <br />