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VII. APPLICATION PROCESS FOR TAX ABATEMENT <br /> A. CITY OF ELK RIVER <br /> 1. Applicant submits the completed application along with a$§10 000 <br /> application deposit,to be refunded for any portions not utilized if the <br /> tax increment project does not proceed. The application deposit will <br /> be used toward the cost of services provided in the evaluation of <br /> financial feasibility and preparation of legal documents and <br /> agreements. Projects that demand professional services in excess of <br /> the initial deposit shall be required to reimburse the City for the <br /> additional expenses. <br /> 2. City staff reviews the application and completes the Application <br /> Review Worksheet. <br /> 3. Results of the Worksheet are submitted to the appropriate governing <br /> authorities (EDA or HRA) for recommendation to the City Council <br /> of approval or denial of the request. <br /> 4. If preliminary approval is granted,all necessary notices,resolutions <br /> and agreements are prepared by City staff and/or consultants. <br /> 5. Public hearing(s) on the proposed request are held. <br /> 6. The City Council grants final approval or denial of the request. <br /> B. APPLICATIONS TO OTHER JURISDICTIONS <br /> It is recommended that applicants intending to seek Tax Abatement from <br /> Sherburne County and/or School District 728 make their applications to <br /> those bodies concurrent with their application to the City of Elk River. For <br /> more information on applying for Tax Abatement through Sherburne <br /> County and/or School District 728,contact: <br /> Sherburne County Administrator <br /> 763-241-2701 <br /> School District 728 Superintendent <br /> 763-241-3400 <br /> Page 7of16 P0WE0Ea ar <br /> 1 NATURE <br />