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Industrial Base - Continued <br /> • ' rit #1 -Attract New Business to Increase the City's Industrial Base <br /> PriorityI <br /> *Programs and Incentives Future <br /> Action Step Complete In Process Ongoing <br /> Support the use of Tax Increment x <br /> Financing (TIF) as a tool to retain and <br /> attract industrial businesses <br /> Modify the TIF policy to allow maximum x <br /> flexibility and to guide the city's <br /> appropriate use of this tool <br /> Support Sherburne County's effort to 4x <br /> establish a revolving loan fund, and other <br /> resources,for economic development <br /> Encourage Elk River Municipal Utilities to x <br /> establish a dedicated revolving loan fund <br /> for economic development and to provide a <br /> competitive incentive electric rate for <br /> qualified industrial businesses <br /> Modify the Micro Loan policy to allow <br /> maximum flexibility for use as an <br /> incentive to encourage industrial business <br /> growth <br /> Research opportunities for using the x <br /> Internet to identify industrial prospects <br /> • Update the community profile and x <br /> demographic information annually <br /> Maintain an inventory of available x <br /> buildings for manufacturing and other <br /> industrial users <br /> Plan and coordinate a marketing event for x <br /> industrial realtors and brokers, <br /> developers, and prospects <br /> Establish a policy to guide the use of the x <br /> city's development fund in a manner which <br /> will support the growth of the city's <br /> industrial and business base <br /> Work with local banks to establish a <br /> cooperative public/private economic <br /> development financing program <br /> I <br /> • <br /> 14 <br /> I <br />