Laserfiche WebLink
For publication on Wednesday,March 31, 2004 <br /> • <br /> Please contact Heidi Steinmetz with any questions at (763) 635-1042. <br /> CITY OF ELK RIVER <br /> NOTICE OF PUBLIC HEARING <br /> REGARDING PROPOSED PROPERTY TAX ABATEMENTS <br /> FOR THE GRADIENT TECHNOLOGY PROJECT <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, L LC (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 foot 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 /> 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 /> 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 the proposed b usiness subsidy a greement, a s w ell as a s ummary of the t erms oft he <br /> subsidy, are available for review from the office of the City's Economic Development Director at <br /> City Hall. <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 /> [Publish on March 31, 2004] <br /> I <br /> 1630387v1 <br />