6.1. SR 11-01-2004 - Laserfiche WebLink

Home Browse Search

SECTION I . DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO.1 (As Modified November 1,2004, to read asfollows) Subsection A. Forward This document constitutes the City of Elk River's Development Program for Development District No. I. The Development Program for Development District No. I was originally adopted by the City Council of the City of Elk River on April I, 1985. The City Council transferred jurisdiction over Development District No. I to the Economic Development Authority (the "EDA") pursuant to City Council Resolution 87-63. This document incorporates amendments to the Development Program adopted by the City Council pursuant to MS. 469.124, et seg., between February 12, 1990 and November I, 2004. Subsection B. Statutory Authority The statutory authority empowering the City to establish the Development District in April 1985 was Minnesota Statutes Chapter 472A, the Minnesota Municipal Development Districts Act. In 1987, the Development Districts Act was recodified as Minnesota Statutes 469,124, et seq. This Development Program has been prepared and amended in accordance with the applicable provisions of the Development Districts Act. Subsection C. Statement of Public Purpose The City Council and the Economic Development Authority of the City of Elk River, Minnesota, determine that it is necessary, desirable, and in the public interest to designate, establish, develop, and administer a Development District in the City of Elk River pursuant to the Development Districts Act. The purpose of the Development District is to provide a means for financing public improvements and facilities necessary if the City is to attract additional commercial and industrial development and increase employment opportunities in those areas of the City designated for these uses. The City Council and the Economic Development Authority find that there is a demand within the City for increased commercial, industrial, and residential development and, that the Development District, as amended, includes all of the areas in the City designated for business, industrial, and residential development. However, extensive commercial, residential and industrial development in many of these areas is not possible absent the installation of certain public facilities, including improved water and sanitary sewer service, additional streets and roads, and others. The high cost of constructing such facilities cannot be met, and additional commercial, residential, and industrial development is therefore not possible without public intervention. Therefore, the Development District is created by the City to make public intervention and assistance possible, construction of the required public facilities possible, and to encourage development of designated commercial, residential, and industrial areas of the City. (As Modified February 12, 1990) On February 12, 1990 the City of Elk River established Tax Increment Financing District No.7, within the Development Program. The Development Program identifies an approximately 5.6 acre site of property acquired in the TIF Redevelopment District for the construction of a 42-unit motel, along with necessary permanent and temporary easements for public improvements, and is the only property to be acquired in the TlF Redevelopment District. City of Elk River Development Program for Development District No. I