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• <br /> RESOLUTION 98 - 6 <br /> A RESOLUTION FOR THE ECONOMIC DEVELOPMENT AUTHORITY <br /> OF THE CITY OF ELK RIVER <br /> A RESOLUTION REQUESTING THE CITY COUNCIL OF THE CITY OF <br /> ELK RIVER TO CALL FOR A PUBLIC HEARING ON THE MODIFICATION <br /> OF <br /> DEVELOPMENT DISTRICT NO. 1 AND THE ESTABLISHMENT OF TAX <br /> INCREMENT FINANCING DISTRICT NO. 21 <br /> BE IT RESOLVED by the Board of Commissioners (the "Board") of the Economic <br /> Development Authority of the City of Elk River, Minnesota (the "EDA"), as follows: <br /> WHEREAS, the City Council ("the Council") of the City of Elk River, Minnesota <br /> (the "City") established Municipal Development District No. 1 <br /> pursuant to Minnesota Statutes, Sections 469.090 through 469.1081, <br /> inclusive, as amended, in an effort to encourage the development and <br /> redevelopment of certain designated areas within the City; and, <br /> WHEREAS, the EDA is proposing the modification of the Development Program <br /> • for Municipal Development District No. 1 and the establishment of <br /> Tax Increment Financing District No. 21, pursuant to and in <br /> accordance with Minnesota Statutes, Sections 469.090 through <br /> 469.1081 and Sections 469.174 through 469.179, inclusive, as <br /> amended. <br /> NOW, THEREFORE, BE IT RESOLVED by the Board as follows: <br /> 1. The EDA hereby requests that the Council call for a public hearing on <br /> October 19, 1998, to consider the proposed adoption of the Modification to the <br /> Development Program for Municipal Development District No. 1 and the <br /> proposed adoption of the Tax Increment Financing Plan for Tax Increment <br /> Financing District No. 21 (collectively, the "Program and Plan") and cause <br /> notice of said public hearing to be given as required by law. <br /> 2. The EDA directs the Executive Director to transmit copies of the Program <br /> and Plan to the Planning Commission of the City and requests the Planning <br /> Commission's written opinion indicating whether the proposed Program and <br /> Plan are in accordance with the Comprehensive Plan of the City, prior to the <br /> date of the public hearing. <br /> 3. The Executive Director of the EDA is hereby directed to submit a copy of the <br /> Program and Plan to the Council for its approval. <br /> 41111 <br />