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ity of <br /> <br />MEMORANDUM <br /> <br />iver <br /> <br />FROM: <br /> <br />DATE: <br /> <br />Mayor & City Council <br /> <br />Pat Klaers, City Admini~r <br />March 11, 1996 <br /> <br />SUBJECT: Marketech TIF Request <br /> <br />ITEM 6.1. <br /> <br />Introduction <br /> <br />At the March 11, 1996, meeting, the City Council will be asked to schedule a <br />public hearing to consider a Tax Increment Financing (TIF) Plan for the <br />creation of a new TIF District. A public hearing to consider the TIF Plan is <br />requested for either April 8 or April 11, 1996. <br /> <br />Background <br /> <br />This request is discussed in detail in the attached EDA material that will be <br />considered earlier in the evening on March 11, 1996. I see no need to repeat <br />that narrative in this memo, especially considering that Councilmember <br />Dietz is the only Councilmember that is not on the EDA. Accordingly, the <br />discussion on this topic at the EDA meeting should provide sufficient <br />background on this proposal. <br /> <br />Below is a proposed City Council timetable to complete the Marketech, Inc. <br />request for TIF assistance. <br /> <br />March 11 - <br /> <br />City Council establishes public hearing date to consider TIF <br />Plan; City Council adopts resolution in support of the CMIF <br />loan request. <br /> <br />Mid March - TIF Plan is sent to School District and County Board for review <br /> and comment. <br /> <br />March 26 - SchoolBoard meeting. <br /> <br />Planning Commission reviews TIF Plan. <br /> <br />March 27 - EDA and City Council -TIF public hearing notices published in <br /> Star News. <br /> <br />13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 <br /> <br /> <br />