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Request for Action <br /> <br /> <br />To Item Number <br />Economic Development Authority 7.1 <br />Agenda Section Meeting Date Prepared by <br />General Business April 15, 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 />Approve, by motion, the Energy Incentive Program and Policy. <br /> <br />Background/Discussion <br />At their March 18, 2019, meeting the EDA reviewed the updates to the new Energy Incentive Program <br />utilizing Elk River Municipal Utilities (ERMU) Payment in Lieu of Taxes (PILOT) to the city. <br /> <br />This incentive would waive PILOT as a development tool for new businesses meeting very specific criteria <br />and redirect it as a credit distributed through the applicant’s electric service bill for up to two years. The <br />amount of the incentive shall be determined by ERMU in its sole 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 electric <br />sales are included in the calculation for the city PILOT and the project must meet all other applicable <br />provisions of the policy. <br /> <br />It was the consensus of the EDA to recommend approval of the new policy at their April 15, 2019, meeting. <br />The policy will go to the City Council for formal action at their May 6, 2019, meeting. <br /> <br />Financial Impact <br />N/A <br /> <br />Attachments <br /> Energy Incentive Program Policy and Application (clean) <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 />