7.3. SR 05-18-2015 - Laserfiche WebLink

Home Browse Search

 The project will make Elk River a complete place through attracting employment opportunities and goods and services needed by the community and creating opportunities for people to live and work in Elk River  The Comprehensive Plan indicates that three aspects of Elk River’s future require particular attention: expanding the tax base, attracting jobs and encouraging redevelopment. This project will address the first two aspects, as well as develop a city owned property which has been vacant for over two years, bringing it onto the tax rolls.  The Plan also indicates that property taxes remain the largest source of revenue for the City and that retaining and attracting livable wage jobs has been an ongoing objective for the city; this project will generate approximately $194,894/yr in tax base; o GATR’s estimated taxes are $93,856 higher than the average annual industrial taxes o GATR’s estimated taxes are $148,374 higher than the average commercial car sales/repair annual taxes o GATR’s estimated project value is $4,475,675 higher than the average commercial car sales/repair project as well as create a minimum of 60 well‐paying jobs within the next two years. Please note, the annual tax estimate is a preliminary figure provided by County Assessor Dan Weber, and may change slightly.  The project fully supports the Economic Development Strategic Plan as outlined in the Comprehensive Plan: “Attract new businesses and support existing businesses to increase the city’s industrial tax base, commercial base and employment base.”  The project supports the 171st FAST through supporting its employment focus by leveraging key assets that are embedded in the community to reinforce Elk River as a regional hub for small to medium size firms in the NW metro region.”  This project supports the following objectives as outlined in the Implementation Section (p. 130) in the Comprehensive Plan: o Coordinate with businesses and industries to explore opportunities for the city to stand out as a leader in sustainable business and community development; GATR Truck Center is proposing to locate in an area of Elk River which the following, compatible businesses are located: Cornerstone Auto Resource Center , Cornerstone Kia Dealership, Precision Frame & Alignment, Morrell Companies, LaFebvre Trucking, Navco Trucking, etc. o Continue to promote and encourage the expansion of jobs and business growth within the city How compatible is it with surrounding properties? This project is compatible with surrounding properties as outlined above; being surrounded by existing compatible businesses, traffic patterns, customers, employees, etc. It will also be built with building materials which will complement existing facilities in the area.