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7.1 SR 04-19-2021
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7.1 SR 04-19-2021
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Request for Action <br />To <br />Item Number <br />Mayor and City Council <br />7.1 <br />Agenda Section <br />TMeeting Date <br />Prepared by <br />Public Hearing <br />Aril 19, 2021 <br />Colleen Eddy, Economic Development Specialist <br />Item Description <br />Reviewed by <br />Tax Increment Financing District No. 27 <br />Cal Portner, City Administrator <br />Reviewed by <br />Action Requested <br />Open and continue the public hearing to consider comment on the proposed establishment of Tax Increment <br />Financing District No. 27 (Riverwalk Apartments Pro)ect) to the May 3, 2021 City Council meeting. <br />Background/Discussion <br />Staff was directed at the March 1, 2021, Work Session to obtain a third -party appraisal, in accordance with city <br />policy, of the property located at 17354 Zane Street, Elk River, as well as financial documents. <br />As of the publishing of the packet, staff has not received this information and are requesting the City Council to <br />open the public hearing and continue it to the May 3, 2021, City Council meeting. <br />Financial Impact <br />N/A <br />Mission/Policy/Goal <br />The City of Elk River shall utilize TIF to encourage desirable development or redevelopment that would not <br />otherwise occur butforTIF. <br />Attachments <br />■ N/A <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional,` 01 e <br />service, and community engagement that encourages and inspires prosperzly INAMIRE1 <br />
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