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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br />CITY OF ELK RIVER <br /> SHERBURNE COUNTY <br /> STATE OF MINNESOTA <br /> <br />RESOLUTION 00-2 <br /> <br />RESOLUTION OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHROITY <br />RECOMMENDING THAT THE CITY COUNCIL ADOPT THE TAX INCREMENT <br />FINANCING PLAN FOR THE CREATION OF TIF DISTRICT 2]. <br /> <br /> WHEREAS, Tax Increment Financing has been proposed for use in the <br />acquisition of land for private industrial development in the West Business Park; <br />and <br /> <br /> WHEREAS, the project is proposed at a site which has been identified for <br />industrial development and which the Economic Development Authority has <br />been actively marketing for a two and one half year period; and <br /> <br /> WHEREAS, the proposed project meets the Elk River Economic <br />Development Authority's requirements for the use of Tax Increment Financing as <br />stated in the Tax Increment Financing Policies; and <br /> <br /> WHEREAS, the proposed project contributes to the fulfillment of the City's <br />Strategic Plan for Economic Development by promoting development in the <br />West Business Park, expanding and diversifying the City's industrial base, and <br />creating opportunities for quality employment in the Elk River area.. <br /> <br /> THEREFORE BE IT RESOLVED, that the Elk River Economic Development <br />Authority recommends that the Elk River City Council approve at its August 21, <br />2000 meeting, along with the subsequent Modifications to Development District <br />No. 1. the Tax Increment Financing Plan for the creation of Tax Increment <br />Financing District No. 21. <br /> <br />Approved this day of August 14, 2000. /~'~ jl ~ ~ <br /> "~ <br /> ' yet, Chair <br /> <br />A1EEST'..~ <br /> <br />C~"therir~e Mehelich, Executive Director <br /> <br /> <br />