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Financing Options for Rehabilitation of Buildings Located Within the Central Business District <br />Novcmbcr 4, 2004 HPC Meeting <br />Page 2 of 2 <br />priority site," however the City has primarily used Tax Increment or Tax Abatement for <br />industrial development and redevelopment. <br />City Micro Loan Program <br />The attached City of Elk River Micro Loan Policy includes a Rehabilitation Financing <br />Program, which allows up to $50,000 of secondary financing to business and property <br />owners in the Central Business District for the rehabilitation and restoration of their <br />buildings. Downtown Elk River building owners have used this program for the <br />rehabilitation of the Diamond City Bread and Olde Main Eatery buildings. <br />Questions? <br />Due to a meeting conflict, I am unable to attend the November HPC meeting. I would be <br />happy to attend a future meeting to answer questions regarding the above information. <br />