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Elk Elk River comprehensive Pi. <br /> R1VeY <br /> The community development section is, to some degree, the sum of all the other parts in the <br /> Comprehensive Plan. The process of discovery that is required to complete the Comprehensive Plan <br /> provides a basis for current and future City leaders to decide things like what, if anything, should <br /> the City of Elk River do to help facilitate business and/or residential growth. In addition, this section <br /> aims to outline planning activities that should be undertaken in achieving the current economic <br /> development goals of the City of Elk River. One of the current goals of the City is to "foster a pro- <br /> business atmosphere that provides incentives and other opportunities for new and existing business <br /> growth". <br /> Three aspects of Elk River's future that require particular attention and action by the City include: <br /> Expanding the tax base <br /> Attracting jobs <br /> Encouraging redevelopment <br /> These actions remain the three key aspects for the 2013 Comprehensive Plan Advisory Committees. <br /> Expanding the Tax Base <br /> Property taxes remain the largest source of revenue for the City of Elk River. In fact, roughly <br /> three-fourths of the City's budget is derived from property taxes. While all forms of development <br /> contribute tax base to the community, it can be risky to place too much weight on tax base growth <br /> as a strategy. A lack of local control over the critical elements of the tax system is cited as the <br /> main reason for the risk. <br /> Chart12-1: Tax Base <br /> $30,000,000 <br /> $25,000,000 <br /> $20,000,000 <br /> $15,000,000 2010 <br /> 2011 <br /> ■2012 <br /> $10,000,000 <br /> ■2013* <br /> $5,000,000 <br /> $0 <br /> Gross Net Tax Less Captured Tax Net Tax Capacity Tax Levy <br /> Capacity Increment for Levy <br /> ($5,000,000) <br /> Source: City of Elk River, WSB & Associates, Inc. <br /> Chapter 12: Community Development / 123 <br />