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• ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> CITY OF ELK RIVER <br /> SHERBURNE COUNTY <br /> STATE OF MINNESOTA <br /> RESOLUTION 00-2 <br /> RESOLUTION OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHROITY <br /> RECOMMENDING THAT THE CITY COUNCIL ADOPT THE TAX INCREMENT <br /> FINANCING PLAN FOR THE CREATION OF TIF DISTRICT 21 . <br /> WHEREAS, Tax Increment Financing has been proposed for use in the <br /> acquisition of land for private industrial development in the West Business Park; <br /> and <br /> WHEREAS, the project is proposed at a site which has been identified for <br /> industrial development and which the Economic Development Authority has <br /> been actively marketing for a two and one half year period; and <br /> • WHEREAS, the proposed project meets the Elk River Economic <br /> Development Authority's requirements for the use of Tax Increment Financing as <br /> stated in the Tax Increment Financing Policies; and <br /> WHEREAS, the proposed project contributes to the fulfillment of the City's <br /> Strategic Plan for Economic Development by promoting development in the <br /> West Business Park, expanding and diversifying the City's industrial base, and <br /> creating opportunities for quality employment in the Elk River area.. <br /> THEREFORE BE IT RESOLVED, that the Elk River Economic Development <br /> Authority recommends that the Elk River City Council approve at its August 21, <br /> 2000 meeting, along with the subsequent Modifications to Development District <br /> No. 1, the Tax Increment Financing Plan for the creation of Tax Increment <br /> Financing District No. 21 . <br /> Approved this day of August 14, 2000. <br /> 4.1aPatrick Dwyer, Chair <br /> ATTEST: <br /> de, <br /> Catherine Mehelich, Executive Director <br />