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ek/ \;4 ITEM 5 . 1 . MEMORANDUM likty of � F 1k Ri ver TO: Planning Commission FROM: Paul T. Steinman, Director of Economic Development DATE: February 18, 1998 SUBJECT: TIF District No. 18 - Morrell Project Issue The purpose of this agenda item is to complete a review of the attached Modification to Development District No. 1 and the Tax Increment Financing Plan for Tax Increment Financing District No. 18 and to consider such Plans to be in conformance with the general plans for the development and redevelopment of the city as described in the Comprehensive Plan. • Background As is required in the case of creation of a new Tax Increment Financing (TIF) District, the planning body of the local government unit is required by State Statute to review the proposed TIF Plan. The Elk River Planning Commission, acting as the local planning body of the City of Elk River, therefore, is required to address the issue of the attached Plan relative to its conformance with the city's Comprehensive Plan and act upon the attached resolution. TIF District No. 18 is proposed to be established by resolution of the City Council on April 6, 1998. The various required steps to create TIF District No. 18 have been completed to the point of mailing the Plan to the School District and County Board and holding a public hearing on the Plan. The proposed Morrell project is for the construction of an approximately 45,000 square foot trucking facility on an approximately 22 acre site off of 171St Avenue. This project includes approximately 3,000 to 5,000 square feet of office space, approximately 12,000 square feet of shop space, and the remainder being docking and transfer facilities. The project area was recently rezoned to PUD to allow the use, and the underlying land use designation is L1 (light industrial). TIF District No. 18 boundaries are • shown on the attached map. 13065 Orono Parkway • P.O. Box 490 • Elk River, MN 55330 • TDD & Phone: (612) 441-7420 • Fax: (612) 441-7425