Laserfiche WebLink
k ) A.( ITEM 7. <br /> ty of ( / MEMORANDUM <br /> lk • <br /> River TO: Economic Development Authority <br /> FROM: Pat Klaers, Executive Direct <br /> DATE: April 8, 1996 <br /> SUBJECT: Termination of TIF District No. 12 <br /> Attached is a resolution that staff is recommending that the City Council <br /> approve to terminate Tax Increment Financing (TIF) District No. 12. This <br /> district was never certified to the county and no increments were ever <br /> collected. However, the City Council, as recommended by the EDA did <br /> approve a resolution which created TIF No. 12 for Neos, Inc. Therefore, <br /> unless this District is officially terminated, the staff would have to report the <br /> existence of No. 12 to the state in some fashion. As TIF District No. 14, or <br /> Marketech, Inc., is on the same two lots in the McChesney Industrial Park as <br /> was the proposal by Neos for TIF No. 12, it is recommended that we officially <br /> terminate TIF No. 12 to eliminate any possible confusion. <br /> • Action Requested <br /> It is suggested that the EDA recommend to the City Council approval of the <br /> attached resolution which terminates TIF District No. 12. <br /> s:\eda\meetings\termno12.doc <br /> 1111 <br /> 13065 Orono Parkway • P.O. Box 490 • Elk River, MN 55330 • (612) 441-7420 • Fax: (612) 441-7425 <br />