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.(.r A <br /> ity of ,/ <br /> llkRiver MEMORANDUM <br /> TO: Economic Development Authority <br /> PFROM: Paul T. Steinman, Director of Economic <br /> �" Development <br /> DATE: October 12, 1998 <br /> SUBJECT: Agenda Memo <br /> 5. Presentation -Purchase of the Roy and Ruth Brown Property <br /> Attached to this memo is a letter from an attorney for Roy and Ruth <br /> Brown regarding a proposed purchase of the Brown property by the <br /> city/EDA. The purpose of this presentation to the EDA is to provide <br /> general information regarding a proposed purchase of the Brown <br /> property which lies along the newly proposed Tyler Street - east of <br /> • 169. <br /> 6. Presentation - Central Minnesota Initiative Fund -Kathy <br /> Gaalswyk <br /> The purpose of this presentation is to hear a request by the Central <br /> Minnesota Initiative Fund for a contribution. <br /> After discussion of such request, staff proposes to bring a <br /> recommendation back to the EDA at its November 9 meeting <br /> regarding this issue. <br /> 7. Consider Resolution 98- Requesting Council to Call Public <br /> Hearing to Modify Budget in TIF District No. 9 <br /> The purpose of this agenda item is to begin the public hearing process <br /> as required by state statute to modify the budget in TIF District No. 9 <br /> (Tescom). The purpose of this modification is to allow the possibility <br /> of using excess tax increment in this District to complete various <br /> minor public improvements in the Industrial Park. <br /> S <br /> This budget modification will not affect the number of years of the <br /> District - it is planned to decertify on December 31, 1998. <br /> 13065 Orono Parkway • P.O. Box 490 • Elk River, MN 55330 • TDD&Phone: (612) 441-7420 • Fax: (612)441-7425 <br />