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Request for Action <br /> <br /> <br />To Item Number <br />Economic Development Authority 2.1 <br />Agenda Section Meeting Date Prepared by <br />Work Session February 19, 2019 Amanda Othoudt, EDD <br />Item Description Reviewed by <br />Energy Incentive Program Cal Portner, City Administrator <br />Reviewed by <br /> <br /> <br />Action Requested <br />Discuss the Energy Incentive Program and Policy. <br /> <br />Background/Discussion <br />At their December 17, 2018, meeting the EDA heard a presentation on the new Energy Incentive <br />Program utilizing Elk River Municipal Utilities (ERMU) Payment in Lieu of Taxes (PILOT) to the City of <br />Elk River. The EDA consented to continuing the discussion at the January 22, 2019, meeting. <br /> <br />This proposed city incentive would waive PILOT as a development tool for new businesses meeting very <br />specific criteria and redirect it as a credit distributed through the applicant’s monthly ERMU electric <br />service bill for up to two years. The amount of the incentive shall be determined by ERMU in its sole <br />discretion in consultation with the city. <br /> <br />To be eligible, the business must be located within the ERMU electric service territory in which the <br />electric sales are included in the calculation for the city PILOT and the project must meet all other <br />applicable provisions of the policy. <br /> <br />Due to time constraints at their January meeting, the EDA continued the discussion of the program and <br />policy to the February 19, 2019, meeting. <br /> <br />Financial Impact <br />N/A <br /> <br />Attachments <br /> Energy Incentive Program Policy and Application (redlined) <br /> ERMU PILOT Policy <br /> Map <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires prosperity <br />