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<br /> <br /> <br />Request for Action <br /> <br /> <br />To Item Number <br /> <br />Economic Development Authority <br />Agenda Section Meeting Date Prepared by <br /> <br />AllFebruary 9, 2015Jeremy Barnhart, Deputy Director, CODD <br />Item Description Reviewed by <br />Worksession information <br />Closed session information <br />Reviewed by <br /> <br /> <br />Action Requested <br /> <br />Receive information <br /> <br />Background/Discussion <br /> <br />Worksession <br />The work session is scheduled to review the Business Subsidy rules and regulations generally, and Tax <br />Abatement and Tax Increment Financing in particular, and how they are used in Elk River. Mikaela Huot <br />of Springsted will provide a 20-30 minute discussion. No action is suggested. <br /> <br />Closed Session <br />The closed session is held to discuss the asking price of seven parcels owned by the City or the EDA. <br />The parcels are shown on the attached map. <br /> <br /> Lot 1, Block 1 Fox Haven Commercial (A) <br /> <br /> Lot 2, Block 1 Fox Haven Commercial (B) <br /> Lot 1, Block 1, Northstar Business Park (C) <br /> Lot 1, Block 2, Northstar Business Park (D) <br /> Lot 1 Block 2 Natures Edge Business center second addition (H) <br /> Lot 2 Block 2 Natures Edge Business center second addition (I) <br /> Lot 1, Block 3, Natures Edge Business center second addition (G) <br /> <br />These asking prices will be the starting negotiation point for the sale. The EDA and City Council will <br />approve the final sale amount. More information will be presented at the meeting. <br /> <br /> <br />Financial Impact <br /> <br />N/A <br /> <br />Attachments <br /> <br /> <br />