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<br />Request for Action <br /> <br /> <br /> <br /> <br /> <br />To Item Number <br />Mayor and City Council 4.11 <br />Agenda Section Meeting Date Prepared by <br />Consent June 21, 2021 Colleen Eddy, Economic Development Specialist <br />Item Description Reviewed by <br />Resolution Approving the Establishment of Cal Portner, City Administrator <br />TIF District No. 27 <br />Reviewed by <br /> <br /> <br />Action Requested <br />Adopt, by motion, a resolution approving the Tax Increment Financing District No. 27. <br /> <br />Background/Discussion <br />At the May 3, 2021, City Council meeting, the Council approved by motion, the establishment of Tax Increment <br />Financing District No. 27 and adopt a Tax Increment Financing Plan. To formally approve the Tax Increment <br />Financing District No. 27, the Council needs to adopt the resolution stating as such. <br /> <br />Financial Impact <br />N/A <br /> <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 but for TIF. <br /> <br />Attachments <br /> Resolution <br /> <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br /> <br />service, and community engagement that encourages and inspires prosperity. <br /> Updated: August 2020 <br />