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r-Q <br /> ty of / ITEM 5.13. <br /> lk <br /> River MEMORANDUM <br /> TO: Planning Commission <br /> FROM: Steven B. Ach, City Planner)' <br /> DATE: May 23, 1995 <br /> SUBJECT: Planning Commission Review of Tax <br /> Increment Financing Plan for Tax <br /> Increment Financing District No. 12 <br /> As presented in the attached memo from William Rubin, EDA Executive <br /> Director, the Planning Commission is being asked to adopt a resolution <br /> which finds a proposed tax increment financing plan to be consistent with the <br /> City's comprehensive land use plan. The proposed district will apply to two <br /> lots in the McChesney Industrial Park which is located immediately north of <br /> Meadowvale Road, along both sides of York Street. This new TIF district will <br /> • provide for a local company to construct a new 16,000 square foot facility <br /> within this industrial area. <br /> Recommendation <br /> It is recommended the Planning Commission recommend approving the <br /> resolution attached to William Rubin's memo with the following finding: <br /> 1. The present zoning of I-1 (Light Industrial) and land use designation of <br /> L-I (Light Industrial) is the appropriate zoning and land use to allow <br /> industrial development. <br /> 2. The comprehensive land use for this area is not envisioned to change <br /> in the immediate future; therefore, expanding industrial businesses at <br /> this location is consistent with the comprehensive plan. <br /> 3. One of the comprehensive plan goals is to encourage industrial <br /> development to assist the City's tax base. <br /> • <br /> s:pla n nin g:pc:rubintif <br /> 13065 Orono Parkway • P.O. Box 490 • Elk River, MN 55330 • (612) 441-7420 • Fax: (612) 441-7425 <br />