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ty of <br /> <br />November 9, 1998 <br /> <br />Superintendent of Schools and <br /> School Board Members <br />Independent School District No. 728 <br />327 King Avenue <br />Elk River, Minnesota 55330 <br /> <br />Attn: Dr. David Flannery, Superintendent of Schools <br /> <br />SUBJECT: <br /> <br />City of Elk River's Proposed Modification to the Tax Increment <br />Financing Plan Budget for Tax Increment Financing District <br />No. 9 <br /> <br />The City of Elk River will be considering the modification of the Tax <br />Increment Financing Plan budget for Tax Increment Financing District No'. 9 <br />(an economic development district) at a public hearing to be held at City <br />Hall, City of Elk River, on Monday, December 21, 1998, at approximately 6 <br /> <br />p.m. <br /> <br />Enclosed please find one draft copy of the proposed modification to the Tax <br />Increment Financing Plan budget for Tax Increment Financing District No. <br />9. The proposed modification is to provide a source of funds to construct <br />public improvements in the Elk River Industrial Park. The boundary map of <br />District No. 9 can be seen as found in the enclosed information. <br /> <br />The Minnesota Tax Increment Financing Act at Minnesota Statutes, Section <br />469.175, Subdivision 2 and 4, requires that prior to the holding of a public <br />hearing on the modification of a Tax Increment Financing Plan, the city must <br />provide an opportunity to the members of the affected School Board and <br />County Board to review the fiscal and economic implications of the proposed <br />modified Plan 30 days fxom the transmittal of the enclosed modification to <br />the Tax Increment Financing Plan or until the School Board or County Board <br />has presented written comment on the proposal, whichever is less. <br /> <br />13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · TDD & Phone: (612) 441-7420 · Fax: (612) 441-7425 <br /> <br /> <br />