6.9.C. SR 05-16-2005 - Laserfiche WebLink

Home Browse Search

incentive for Timron Precision Gear to locate in Elk River. (As Modified April 8, 1996) On April 8, 1996 the City of Elk River established Tax Increment Financing District No. 14, within the Development Program. Marketech, Inc. proposes to construct a new facility containing approximately 9,324 square feet on Lots 6 and 7. The new facility will have a finished market value estimated at $400,000. The Tax Increment funds will be used to reimburse Marketech, Inc. for the acquisition of the development site. (As Modified June 10,1996) On June 10, 1996 the City of Elk River established Tax Increment Financing District No. 15, within the Development Program. TIF District No. 15 was established to provide pay-as-you-go reimbursement for the value of Lot 9, Block 1, McChesney Industrial Park; to encourage a manufacturing company to expand in the McChesney Industrial Park; to increase employment opportunities in the community; and to preserve and enhance the local tax base and the tax base in the State. (As Modified January 27,1997) On January 27, 1997 the Housing and Redevelopment Authority for the City of Elk River established Tax Increment Financing District No. 16, within the Development Program. District No. 16 consists of 3 parcels of land and adjacent and internal rights-of-way. The current plans for the new development on the site include a 14,000 square foot commercial facility. (As Modified February 17,1998) On February 17, 1998 the Economic Development Authority for the City of Elk River established Tax Increment Financing District No. 17, within the Development Program. TIF district No. 17 consists of 1 parcel of land and adjacent and internal rights-of-way. The current plans for the new development on the site include a 25,000 square foot industrial facility. (As Modified April 6, 1998) On April 6, 1998 the Economic Development Authority for the City of Elk River established Tax Increment Financing District No. 18, within the Development Program. TIF district No. 18 consists of 2 parcels of land and adjacent and internal rights-of-way. The current plans for the new development on the site include a 45,000 square foot office/warehouse/trucking facility. (As Modified July 13, 1998) On July 13, 1998 the Economic Development Authority for the City of Elk River established Tax Increment Financing District No. 19, within the Development Program. Anticipated development with the TIF District consists of several mixed-use projects. Commercial development on approximately 70 acres of the TIF District will encompass approximately 1.5 million square feet of retail space and approximately 300,000 square feet of restaurant and convenience store space. City of Elk River Development Program for Development District No. 1 3