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Elk River TH 10 and Lowell Redevelopment <br />LHB Project No. 180477 Page 2 of 11 Final Report <br />PART 1 – EXECUTIVE SUMMARY <br /> <br />PURPOSE OF EVALUATION <br />LHB was hired by the City of Elk River to inspect and evaluate the properties within a Tax Increment <br />Financing Redevelopment District (“TIF District”) proposed to be established by the City. The <br />proposed TIF District is bounded by US Highway 10 Northwest, Jackson Avenue Northwest, Main <br />Street Northwest and Lowell Avenue Northwest (Diagram 1). The purpose of LHB’s work is to <br />determine whether the proposed TIF District meets the statutory requirements for coverage, and <br />whether eight (8) buildings on twenty-four (24) parcels, located within the proposed TIF District, <br />meet the qualifications required for a Redevelopment District. <br /> <br /> <br />Diagram 1 – Proposed TIF District <br /> <br />SCOPE OF WORK <br />The proposed TIF District consists of twenty-four parcels with eight (8) buildings. Eight (8) buildings <br />were inspected on June 22, 2018. Building Code and Condition Deficiency reports for the buildings <br />that were inspected and found to be substandard are located in Appendix B. <br /> <br />