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ITEM 5.6. <br /> <br />]ty of <br /> <br />MEMORANDUM <br /> <br />iver <br /> <br />FROM: <br /> <br />DATE: <br /> <br />Mayor & City Council <br /> <br />Pat Klaers, City Adminis/~fftor <br />May 13, 1996 <br /> <br />SUBJECT: Request for TIF Assistance from <br /> McChesney Cabinets <br /> <br />Introduction <br /> <br />At the May 13, 1996, meeting, the City Council will be asked to schedule a <br />public hearing to consider a tax increment financing (TIF) plan for the <br />creation of a new TIF District. A public hearing to consider the TIF plan is <br />requested for either June 10 or June 17, 1996. <br /> <br />Background and Timetable <br /> <br />This request is discussed in detail in the EDA material that will be <br />considered earlier in the evening on May 13, 1996. There is no need to repeat <br />this narrative in this memo as four of the five Councilmembers are on the <br />EDA and the one who is not on the EDA, Councilmember Dietz, also receives <br />an EDA packet. Accordingly, the discussion on this topic at the EDA meeting <br />should provide sufficient background on this proposal. <br /> <br />Below is a proposed City Council timetable to complete the McChesney <br />Cabinets request for TIF assistance: <br /> <br />May 13 - <br /> <br />City Council establishes a public hearing date to consider <br />TIF plan. (The preparation of TIF plan is authorized by <br />the EDA.) <br /> <br />Mid May - TIF plan is sent to School District and County Board for <br /> review. <br /> <br />May 21 - County Board review. <br /> <br />May 28 - <br /> <br />School Board review <br />Planning Commission review <br /> <br />May 29 - <br /> <br />EDA and City Council TIF public hearing notices are <br />published in Star News <br /> <br />13065 Orono Parkway ° P.O. Box 490 ° Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 <br /> <br /> <br />