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City of <br /> Elk - Request for Action <br /> River O. <br /> To Item Number <br /> Mayor and City Council 4.8 <br /> Agenda Section Meeting Date Prepared by <br /> Consent February 18, 2014 Brian Beeman,Director of Economic <br /> Development <br /> Item Description Reviewed by <br /> Tax Abatement Policy Jeremy Barnhart,Deputy Director, CODD <br /> Reviewed by <br /> Cal Portner, City Administrator <br /> Action Requested <br /> Approve,by motion,the Tax Abatement Policy as recommend by the FDA. <br /> Background/Discussion <br /> As Springsted, the city's financial consultant was reviewing the TIF policy and other economic <br /> development policies of the city,minor inconsistencies were identified. <br /> In an attempt to streamline the policies and be consistent with current state statutes, Springsted has <br /> developed recommendations to update the policies,which were reviewed by the FDA on February 18, <br /> 2014. <br /> Financial Impact <br /> N/A <br /> Attachments <br /> • FDA memo dated February 18, 2014 <br /> • Updated Tax Abatement Policy <br /> pawIeE0 0 <br /> UREJ <br />