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<br /> <br />Item 5.2. <br /> <br />13065 Orono Parkway <br />Elk Rivec IvlN 55330 <br /> <br />July 5, 2005 <br /> <br />Elk River City Council <br />City of Elk River <br />13065 Orono Parkway <br />Elk River N1N 55330 <br /> <br />RE: NORTHSTAR BUSINESS PARK IMPROVEMENTS <br />PUBLIC HEARING <br /> <br />Dear Council Members: <br /> <br />At this evening's City Council meeting, the public hearing for the Northstar Business Park <br />Improvements is scheduled. As the City Council is aware, this property is owned by the <br />Economic Development Authority (EDA). The purpose of this evening's public hearing is <br />to allow for the assessment of the cost for the improvements to development the N orthstar <br />Business Park to the EDA. The repayment of the assessments is planned through the use of <br />Tax Increment Financing (fIF) and/or Tax Rebate from development of the lots. Notice of <br />the public hearing was published in the Elk River Star News and individual notices were sent <br />to Jeff Gongoll, President of the EDA and Cathy Mehelich, Director of Economic <br />Development. <br /> <br />The conceptual layout of the Northstar Business Park has changed slightly as staff has <br />worked to place three prospects into the site. I will be prepared to make a brief presentation <br />and answer any questions the City Council may have. At the close of the public hearing, it <br />would be appropriate for the City Council to consider the attached resolution which orders <br />the improvement. <br /> <br />If you have any questions, please call. <br /> <br />Sincerely, <br /> <br />~ <br />~p~ <br /> <br />Teny J. :Maurer, PE <br />City Engineer <br /> <br />Phone: 763.635.1000 <br />Fax: 763.635.1090 <br />S:\EngineerImprovProj\200S Improvement Projects\Nonhstar Business Park\06 27 05 cc memo.doc <br />www.ci.elk-river.mn.us <br />