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a• VtiN <br /> r 1 <br /> City of Elk River,Minnesota <br /> Business Subsidy,Tax Increment Financing and <br /> Tax Abatement Policy and Procedures \Ai .kdA <br /> Pre-Session Questions: Summary of Responses <br /> Dated: November 4, 2013 <br /> I. Strengths <br /> Identify the top three to five strengths of the City; Specifics are not needed; key phrases, ideas <br /> and observations desired. <br /> • Land availability. <br /> • Strong community values. <br /> • Affordability of Land, <br /> • Proximity to Twin Cities, <br /> • City owned municipal utilities, <br /> • Moderate property taxes, <br /> • Availability of incentives <br /> II.Issues and Challenges <br /> Identify the top three to five issues or challenges of the City; specifics are not needed; key <br /> phrases,ideas and observations desired. <br /> • Present economic status <br /> • High Taxes, <br /> • High Tax Rates, <br /> • Regulatory Customer Service <br /> • Physical location <br /> • Availability of lots with city services <br /> • Council is very cautious with use of TIF and tax rebates <br /> M.Short Term Outcomes(1-3 years) <br /> Identify outcomes and results you want to achieve in the short term(1 to 3 years). In three <br /> years what clear and distinct development successes do you want to achieve? <br /> • Increase of city tax base. <br /> • Adequate local housing for labor force. <br /> • Incentives to promote industrial development. <br /> • Bring in more businesses and grow our tax base. <br /> • More industrial building and jobs. <br /> • Retention of local business. <br /> • Further expansion of Nature's Edge Business Park. <br />