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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> FROM: Pat Klaers,'Executiv i ec r <br /> DATE: April 8, 1996 <br /> SUBJECT: EDA Worksession <br /> Last week I distributed a special meeting notice and a memo that reviewed <br /> some topics that the EDA should discuss prior to its regular 6:00 meeting on <br /> Monday, April 8, 1996. Attached for your review is this memo dated 3/29/96. <br /> Please note that Mr. and Mrs.Blaha have advised the city that they are not <br /> ready to move forward at this time and are planning on waiting to make a <br /> TIF application until after the bank financing is finalized. Accordingly,I <br /> think that we can concentrate our worksession on the McChesney request, <br /> the LeFebvre and Sons request, and on TIF in general. <br /> • Attached for your review is the city TIF policy and application form. <br /> Regarding the McChesney request, attached for your review is a letter of <br /> support from the Chamber of Commerce regarding city assistance for projects <br /> in the McChesney Industrial Park. <br /> One of the main items to be determined and decided with the McChesney <br /> request is that the project could not happen "but for" city assistance. This is <br /> one of the founding principals of the law, however, determining that the "but <br /> for" requirements exist is solely up to the municipality. <br /> This item is on the table for discussion because the city has not, to my <br /> knowledge, ever purchased land from the developer and sold it back tothem <br /> for a dollar and recaptured the cost of the land through TIF funds. This <br /> certainly is legal, but it has not been done in Elk River. Other than for land <br /> write down activities between two different parties, the city has mainly used <br /> TIF for site preparation (for such items as landscaping and construction of <br /> parking lots). I need direction from the EDA as to whether any assistance <br /> should be provided for this project and, if so, at what level for what activities. <br /> Jerry will be at this meeting to present information regarding his project <br /> and, if supported by the EDA, Jerry is ready to submit a TIF application. <br /> P.O. Box 490 • 13065 Orono Parkway • Elk River, MN 55330-1743• (612) 441-7420 • Fax: (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br />