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DEVELOPMENT PROGRAM <br /> DEVELOPMENT DISTRICT NO. 1 <br /> A. STATUTORY AUTHORITY <br /> The statutory authority empowering the City to establish the Development <br /> District in April 1985 was Minn. Stat. Chapter 472A, the Minnesota Municipal <br /> Development Districts Act. In 1987, the Development Districts Act was recodified <br /> as Minn. Stat. 469.124, et seq. This Development Program has been prepared and <br /> amended in accordance with the applicable provisions of the Development Districts <br /> Act. <br /> i B. STATEMENT OF PUBLIC PURPOSE <br /> The City Council and the Economic Development Authority of the City of Elk <br /> River, Minnesota determine that it is necessary, desirable, and in the public <br /> interest to designate, establish, develop, and administer a Development District in <br /> the City of Elk River pursuant to the Development Districts Act. The purpose of the <br /> Development District is to provide a means for financing public improvements and <br /> facilities necessary if the city is to attract additional commercial and industrial <br /> development and increase employment opportunities in those areas of the city <br /> designated for these uses. <br /> The City Council and the Economic Development Authority find that there is <br /> a demand within the city for increased commercial, industrial, and residential <br /> 1 <br />