Laserfiche WebLink
Request for Action <br /> <br /> <br />To Item Number <br />Economic Development Authority 7.7 <br />Agenda Section Meeting Date Prepared by <br />General Business January 22, 2019 Amanda Othoudt, EDD <br />Item Description Reviewed by <br />Energy Incentive Program Cal Portner, City Administrator <br />Reviewed by <br /> <br /> <br />Action Requested <br />Discuss the Energy Incentive Program and Policy. <br /> <br />Background/Discussion <br />At their December 17, 2019 meeting, the EDA heard a presentation on the new Energy Incentive <br />Program utilizing ERMU’s Payment in Lieu of Taxes (PILOT) to the City of Elk River. The EDA <br />consented to continuing the discussion at this meeting. <br /> <br />This proposed city incentive would waive PILOT as a development tool for new businesses meeting very <br />specific criteria and redirect it as a credit distributed through the applicant’s monthly ERMU electric <br />service bill for up to two years. The amount of the incentive shall be determined by ERMU in its sole <br />discretion in consultation with the city. <br /> <br />To be eligible, the business must be located within the ERMU electric service territory in which the <br />electric sales are included in the calculation for the city PILOT and the project must meet all other <br />applicable provisions of the policy. <br /> <br />The applicant will be responsible for all legal, recording and other fees associated with processing the <br />application. As part of the discussion, the EDA determined the application fee for this new program shall <br />be set at $2,000 with any remaining escrowed funds to be returned to the applicant. <br /> <br />The consensus of the EDA was to continue the discussion of the program and policy at the January 22, <br />2019, meeting. A motion approving the new Energy Incentive Program is recommended if the <br />Commission is comfortable moving forward with implementing the program. <br /> <br />Financial Impact <br />N/A <br /> <br />Attachments <br /> Energy Incentive Program Policy and Application <br /> ERMU PILOT Policy <br /> Map <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires prosperity <br />