Laserfiche WebLink
City of Elk River, Minnesota <br /> SECTION I — MODIFICATION TO THE DEVELOPMENT PROGRAM <br /> FOR DEVELOPMENT DISTRICT NO. 1 <br /> Foreword <br /> The following text represents a Modification to the Development Program for Development <br /> District No. 1. This modification represents a continuation of the goals and objectives set forth <br /> in the Development Program for Development District No. 1. The changes generally include the <br /> establishment of Tax Increment Financing (Housing) District No. 28. <br /> For further information, a review of the Development Program for Development District No. 1 is <br /> recommended. It is available from the City Administrator at the City of Elk River. Other relevant <br /> information is contained in the Tax Increment Financing Plans for the Tax Increment Financing <br /> Districts located within Development District No. 1. <br /> SECTION II —TAX INCREMENT FINANCING PLAN <br /> FOR TAX INCREMENT FINANCING (HOUSING) DISTRICT NO. 28 <br /> Introduction <br /> The following text represents the Tax Increment Financing Plan for Tax Increment Financing <br /> District No. 28. <br /> Section A Definitions <br /> The terms defined in this section have the meanings given herein, unless the context in which <br /> they are used indicates a different meaning: <br /> "City" means the City of Elk River, Minnesota; also referred to as a "Municipality". <br /> "City Council" means the City Council of the City; also referred to as the "Governing Body". <br /> "County" means Sherburne County, Minnesota <br /> "Development District" means Development District No. 1 in the City, which is described in the <br /> corresponding Development Program. <br /> "Development Program" means the Development Program for the Development District. <br /> "Project Area" means the geographic area of the Development District. <br /> "School District" means Independent School District No. 728, Minnesota. <br /> "State" means the State of Minnesota. <br /> "TIF Act" means Minnesota Statutes, Sections 469.174 through 469.1794, both inclusive. <br /> "TIF District" means Tax Increment Financing (Housing) District No. 28. <br /> "TIF Plan" means the tax increment financing plan for the TIF District (this document). <br /> Baker Tilly Municipal Advisors, LLC Page 1 <br />