Laserfiche WebLink
• V. PROJECT QUALIFICATIONS <br /> All TRF projects considered by the City of Elk River must meet each of the following <br /> requirements: <br /> a. The project shall meet at least one of the objectives set forth in Section III of <br /> this document. <br /> b. The use of TRF will be limited to: <br /> • Industrial development, expansion,redevelopment, or <br /> rehabilitation; or <br /> • Commercial redevelopment or rehabilitation; or <br /> • Office or research facilities that satisfy Business Park zoning <br /> requirements; <br /> • Residential development and redevelopment may be eligible for <br /> TRF under a separate set of policies and only with the <br /> recommendation of the HRA. <br /> • New commercial or retail development is not eligible for TRF. <br /> c. The developer shall demonstrate that the project is not financially feasible <br /> but for the use of TRF. <br /> • d. The project shall comply with all provisions set forth in the state's Tax <br /> Abatement Law, statues 469.1812 to 469.1815, as amended. <br /> e. The project must be consistent with the City's Comprehensive Plan,Land <br /> Use Plan, and Zoning Ordinances. <br /> f. The project shall serve at least two of the following public purposes: <br /> • Job creation. <br /> • Increase of tax base. <br /> • Enhancement or diversification of the city's economic base. <br /> • Development or redevelopment that will spur additional private <br /> investment in the area. <br /> • Fulfillment of defined city objectives, such as those identified in the <br /> • Strategic Plan for Economic Development or the city's <br /> Comprehensive Plan, among others. <br /> • Removal of blight or the rehabilitation of a high profile or priority site. <br /> 5 <br />