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ITEM # 5. <br /> City of <br /> Elk <br /> River <br /> MEMORANDUM <br /> TO: Housing & Redevelopment Authority y� <br /> FROM: Catherine Mehelich, Director of Economic Development/7 <br /> DATE: June 30, 2004 <br /> SUBJECT: Consider Resolution Requesting the City Council Call for a <br /> Public Hearing on the Establishment of a Downtown Phase I <br /> Tax Increment Financing District No. 22 (A Redevelopment <br /> District) <br /> Attachments <br /> • Schedule of Events <br /> • • Resolution Requesting the City Council Call for a Public Hearing on the <br /> Modification of the Development Program for Development District No. 1 and the <br /> Establishment of Downtown Phase I Tax Increment Financing District No. 22 (A <br /> Redevelopment District) <br /> Issue <br /> At its June 7, 2004 meeting the HRA reviewed the attached Schedule of Events for the <br /> establishment of a Tax Increment Financing (TIF) district related to the MetroPlains <br /> downtown revitalization project. The first step in creating the district is for the HRA to <br /> request that the City Council call for a public hearing on September 20, 2004 to consider the <br /> TIF Plan. Ehlers &Associates is preparing the TIF Plan and related documents. The City <br /> Council will consider the request at its July 6 meeting. <br /> Recommendation <br /> Staff recommends that the HRA adopt the attached Resolution Requesting the City Council <br /> Call for a Public Hearing on the Modification of the Development Program for <br /> Development District No. 1 and the Establishment of Downtown Phase I Tax Increment <br /> Financing District No. 22 (A Redevelopment District). <br /> • <br />