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<br />~I ~( <br />( l! <br />.l~~ <br />E I\. River <br /> <br />ITEM 6. <br /> <br /> <br />TO: <br /> <br />MAYOR & CITY COUNCIL <br />WILLIAM RUBIN, ED COORDINATO~~ <br />JULY 27, 1993 <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: PUBLIC HEARING - PROPOSED <br />AMENDMENT TO TIF PLANS NO. 1 AND <br />NO. 3 <br /> <br />INTRODUCTION <br /> <br />At its meeting on June 21, 1993, the Elk River City Council <br />scheduled a public hearing for August 2, 1993, to consider a <br />proposed amendment to TIF Plans No. 1 and No.3. <br /> <br />BACKGROUND <br /> <br />The proposed modification to TIF Plans No. I and No. 3 would <br />enable the City to assist with the public library expansion by <br />expending tax increments from Districts No. 1 and No. 3 to <br />underwrite a portion of the expansion costs as permitted by <br />Minnesota Statutes. <br /> <br />e <br /> <br />The proposed Plan <br />School District 728. <br />by both Boards. <br /> <br />amendment was sent to Sherburne County and <br />This amendment was subsequently reviewed <br /> <br />The public hearing notice was published in the Star News on <br />July 7, 1993. <br /> <br />The Elk River Planning Commission reviewed <br />amendment on July 27, 1993. <br /> <br />the <br /> <br />proposed <br /> <br />A copy of the proposed modification to TIF Plans No. 1 and No. <br />3 is attached to this memo. <br /> <br />ACTION REQUESTED <br /> <br />Following the public hearing, the City Council is asked to <br />complete action on the proposed amendment to TIF Plans No. 1 <br />and No.3. <br /> <br />e <br /> <br />P.O. Box 490 · 13065 Orono Parkway · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 <br />