Laserfiche WebLink
EOty1� ,.,�� Request for Action <br /> River <br /> To Item Number <br /> Mayor and City Council 8.2 <br /> Agenda Section Meeting Date Prepared by <br /> General Business February 20, 2018 Amanda Othoudt,EDD <br /> Item Description Reviewed by <br /> Resolution: Denying Tax Increment Assistance for Cal Portner, City Administrator <br /> Elk River Lodge & Residential Suites, LLC Reviewed by <br /> Action Requested <br /> Approve,by motion, a resolution of denial for the Elk River Lodge& Residential Suites, LLC project. <br /> Background/Discussion <br /> Staff presented the Elk River Lodge and the Jackson Hills Residential Suites Housing TIF applications to <br /> the Council during a work session on February 5, 2018. The applicant requested that increment from the <br /> Jackson Hills project be pooled and utilized for certain improvements to the Elk River Lodge project. <br /> Although Minnesota law permits increments to be "pooled" or spent outside of the district, the <br /> consensus of the Council was to not pool increment from the Jackson Hills project for improvements <br /> that were already approved for construction and have already commenced at the Elk River Lodge <br /> property. <br /> Financial Impact <br /> N/A <br /> Attachments <br /> ■ Resolution <br /> The Elk River Vision <br /> A PehoMing community 2a itb revolutionary and spirited resourcefulness, exceptional POWERED By <br /> service, and community engagement that encourages and inspires prosperity INAWRE1 <br />