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ITEM 9 <br /> -`/ \\ <br /> Iltyof TO: ECONOMIC DEVELOPMENT AUTHORITY <br /> lk <br /> 4,, <br /> River FROM: WILLIAM RUBIN, ED COORDINATOR <br /> DATE: JANUARY 6, 1993 <br /> SUBJECT: ALTERNATIVES FOR TAX INCREMENT <br /> FINANCING (TIF) GRANT REQUEST <br /> INTRODUCTION <br /> Policy direction is sought from the Elk River Economic <br /> Development Authority and the Elk River City Council regarding <br /> alternatives for a Tax Increment Financing Grant Request. In <br /> short, staff is seeking direction from both Boards regarding <br /> the potential availability of TIF to assist a manufacturing <br /> company with its relocation program into the City of Elk River. <br /> BACKGROUND <br /> Perf-form Products, Inc. , 21595 County Road 83, Big Lake <br /> Township, manufactures oil filters and oil drain systems for <br /> original equipment manufacturers (OEM' s) such as Harley <br /> Davidson and as after-market products that are available for <br /> 111 sale in motorcycle accessory stores. Mr. Douglas Koelfgen is <br /> owner and president of the company. He also holds a patent for <br /> developing this oil filtration system. The company has been in <br /> operation for several years and currently operates in Big Lake <br /> Township as a result of a conditional use permit issued by <br /> Sherburne County. A check of County records reveals that <br /> Perf-form Products has conformed to the County's stipulated <br /> conditions, and as a result, has a clean record of operations. <br /> This company has been previously outlined in monthly Prospect <br /> Status Reports and appears to be close to a decision on <br /> expanding in Elk River. Additional information on the company <br /> can be obtained from the letter submitted by Mr. Koelfgen and <br /> from the brochures included in the agenda packet. <br /> Mr. Koelfgen is proposing the construction of a 6,000 square <br /> foot facility that can be expanded in the future. In an effort <br /> to maximize the land to building ratio, the company has <br /> tentatively identified Lot 2, Block 2, Elk River Industrial <br /> Park, as a potential site to undertake this expansion project. <br /> Lot 2 is a privately owned site located immediately west of the <br /> Neary Manufacturing building in the Industrial Park. It is <br /> owned by Steven Neary, who also owns the facility and the real <br /> estate where Neary Manufacturing conducts its operations . <br /> While vacant, Lot 2 was not part of the City/EDA-Associated <br /> • Investors transaction of June, 1992 . <br /> 720 Dodge Avenue N.W., Elk River, Minnesota 55330 (612) 441-7420 <br />