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Special Service Districts <br />A special service district has the capacity to finance the construction and maintenance <br />of the public improvements for the ~7~st Avenue FAST. In simplest terms, a special <br />service district is a special taxing district. It allows the City to collect money to support <br />services and improvements in commercial areas. <br />The general statutory authority (Minnesota Statutes, Chapter 4z8A) contains few limits <br />on the potential uses of special service districts. The nature of the improvements that <br />can be funded with a special service district are not defined (or limited) by statute. The <br />special service district cannot be used to finance services that the City provides through <br />the general fund throughout Elk River, unless the services are provided at a higher <br />level. The statute does not impose any other limitation on the nature of services. <br />Potential applications of special service districts for implementation of this master <br />plan include: <br />» Construction and maintenance o f streetscape. <br />» Construction and maintenance of the wetland trails and other public open space. <br />» Construction of sidewalks, trails, bridges and other improvements to enhance pedestrian <br />movement. <br />» Construction and maintenance o f public parking facilities. <br />» Other services and improvements can be undertaken and financed by a special service district i f <br />authorized by the enabling ordinance. <br />Grants <br />DEED <br />The Minnesota Department of Employment and Economic Development <br />(DEED) offers grants, loans and technical assistance for redevelopment <br />projects and activities for communities. Qualifying projects include housing <br />and commercial rehabilitation, wastewater treatment facilities and drinking <br />water systems, and contaminated site clean-up. Eligibility of financing <br />through DEED depends on a number of factors including the type of <br />business, size, location and type of financing needed. <br />The Business Development Public Infrastructure Program is a potential <br />grant through DEED which provides funding for infrastructure projects in <br />support of economic development. This program would be a great fit for <br />the infrastructure improvements for Twin Lakes Parkway. The DEED web- <br />site (http:J/www.deed.state.mn.us) provides a number of potential financial <br />resources for development and redevelopment projects in the FAST area to <br />spur business growth. <br />IMPLEMENTATION <br />