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For publication on Wednesday, March 31, 2004 <br /> <br />Please contact Heidi Steinmetz with any questions at (763) 635-1042. <br /> <br />CITY OF ELK RIVER <br /> <br /> NOTICE OF PUBLIC HEARING <br />REGARDING PROPOSED PROPERTY TAX ABATEMENTS <br />FOR THE GRADIENT TECHNOLOGY PROJECT <br /> <br /> NOTICE IS HEREBY GIVEN that the City Council of the City of Elk River, Minnesota, <br />will hold a public hearing at a meeting of the City Council beginning at 6:30 p.m., on Monday, <br />April 12, 2004, to be held at the Elk River Senior High School Little Theater, 900 School Street <br />(enter through door H on the north side of the building), Elk River, Minnesota, on the request of <br />Badger Ventures, LLC (the "Company") to have the City abate to the Company 100% of the <br />property taxes to be levied by the City on 2.05 acres of Lot 5, Block 1, Elk River Business Park <br />located off of Twin Lakes Road on Industrial Circle in the City (the "Property") for an <br />approximately 13,000 square fbot light manufacturing facility (the "Improvements") to be <br />constructed by the Company and leased to Gradient Technology. The total amount of the taxes <br />proposed to be abated by the City on the Property for up to a ten year period is estimated to be <br />not more than $75,000. <br /> <br /> This abatement would constitute a "business subsidy" under Minnesota Statutes, Sections <br />116J.993 through 116J.995, and the City would impose specific wage and job goals for the <br />Project under that law. <br /> <br /> The City Council will consider granting this property tax abatement in response to the <br />request. A draft of a proposed Abatement Agreement between the City and the Company, which <br />includes t he proposed business subsidy agreement, a s w ell a s a summary of t he terms o f t he <br />subsidy, are available for review from the office of the City's Economic Development Director at <br />City Hall. <br /> <br /> All interested persons may appear at the April 12th public hearing and present their views <br />orally or in writing. Anyone needing reasonable accommodations or an interpreter should <br />contact the City Clerk's office at the City Hall, telephone (763) 635-1000. <br /> <br />[Publish on March 31, 2004] <br /> <br />i630387vl <br /> <br /> <br />