The City of Elk River may utilize Tax financing to encourage desirable development or redevelopment that would not otherwise occur but for TIF.
Provides low interest, long-term (i.e. greater than one year) loans as incentives for new industrial and commercial development within the City of Elk River and to encourage commercial and retail business owners in the Downtown District to rehabilitate their existing buildings.
Provides incentives for desirable development or redevelopment that would not otherwise occur but-for the assistance provided through the Tax Abatement.
Focuses on commercial, retail, industrial, manufacturing, and technology-related industries to increase the local and state tax base and improve economic vitality. The program can be used toward the purchase of properties deemed structurally substandard.
Provides financial and technical assistance for the creation and retention of new employment in Elk River