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<br />APPENDIX A <br /> <br />PROJECT DESCRIPTION <br /> <br />Tax Increment Financing District No. 22 is being established to facilitate the redevelopment of the Bluff <br />Block and Jackson Block in downtown Elk River. The project is part of the Downtown Revitalization <br />Project, with the primary goal being to assume the long-term viability of downtown by making a connection <br />to the rest of the community and by utilizing the riverfront location. The redevelopment will enhance <br />downtown Elk River's role as a residential, retail and commercial area and revitalize investment in the <br />downtown business district. <br /> <br />The Bluff Block Development will include 10,000 square feet of commercial development on the first floor <br />along Main Street and 60 units offor-sale housing above the commercial. The development will also include <br />70-80 below grade parking stalls for the housing and commercial residents. <br /> <br />The Jackson Block Development will also include 10,000 square feet of commercial development on the first <br />floor along Jackson Street and at the corner of Jackson and Main. Above the commercial development will <br />be 32 units of 1- and 2-bedroom rental housing. The development will also include up to 52 below grade <br />parking units for housing and commercial residents. <br /> <br />APPENDIX <br /> <br />A-I <br />