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ITEI~ <br /> <br />/-I..6. <br /> <br />City of <br /> <br />River <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />Mayor and Council <br /> <br />FROM: <br />DAli:: <br /> <br />Marc Nevinski, Assistant Director of <br />Economic Development <br /> <br />August 28, 2000 <br /> <br />SUBJECT: Development Agreement for TIF District No. 21 <br /> <br />/ssue <br />Attached you will find the development agreement for TIF District No. 21, which <br />outlines the terms and conditions for the collection and disbursement of tax <br />increment dollars for the SoftPac/Opus project. Incorporated into the development <br />agreement is the business subsidy agreement, which outlines the goals for the <br />project and the public purposes it serves. The goals and public purposes were <br />reviewed at the public hearing on August 21, 2000 and are also addressed in the <br />previous memo. <br /> <br />Action Requested <br />Staff requests that council consider the development agreement for TIF District No. <br />21 and then consider adopting the attached resolution approving and authorizing <br />the execution of the development agreement. <br /> <br />Attachments <br /> · Development Agreement For TIF District No. 21 <br /> · Resolution Approving and Authorizing Execution of the Development <br /> Agreement <br /> <br />13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · TDD & Phone (763) 441-7420 · Fax (763) 441-7425 <br /> <br /> <br />