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• pay back the $80,000 TIF grant. It is estimated that the Neos TIF District <br /> would last approximately six (6) years. The new property taxes (otherwise <br /> known as the tax increment) would be collected for four (4) years. <br /> Action Requested <br /> The Elk River Planning Commission is asked to adopt the attached <br /> resolution which finds that the proposed TIF Plan is consistent with the city's <br /> Comprehensive Land Use Plan. The Planning Commission's resolution and <br /> findings will then be forwarded to the City Council for consideration at is <br /> June 19 public hearing. <br /> 9 <br /> • s:eda:minutes:pctifl2 <br />