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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> • <br /> DRAFT <br /> April 6, 1994 <br /> Honorable Betty Adkins <br /> 309 State Capital <br /> St. Paul, MN 55155 <br /> Dear Senator Adkins: <br /> Several State Legislators have undertaken new initiatives which address the <br /> continued use of Tax Increment Financing by communities throughout <br /> . <br /> Minnesota. The initiatives include: <br /> • The exclusion of LGA/HACA penalties for TIF manufacturing <br /> Districts (H.F. 3070); <br /> • The exclusion of LGA/HACA penalties for TIF redevelopment <br /> Districts (H.F. 2654); <br /> • The exclusion of LGA/HACA penalties for soils condition TIF <br /> Districts - including the elimination of the local match requirement <br /> for clean-up costs (H.F. 3180). <br /> I am bringing these proposals to your attention because many exciting things <br /> are occurring in Elk River. For example, in order to encourage more <br /> industrial development opportunities, the Economic Development Authority <br /> (EDA) will likely develop its own business campus and its own industrial <br /> park. The ability to utilize TIF for some of these industrial transactions will <br /> go a long way towards ensuring a successful development. The EDA's Main <br /> Street Redevelopment Site is still vacant and it will likely require TIF <br /> incentives to attract a developer. <br /> In closing, the Elk River EDA supports the Legislative initiatives listed <br /> above and respectfully requests your support as the proposed bills move <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 />