Business Toolbox
Tax Increment FinancingBusiness MicroloansTax AbatementJob Incentive MicroloanEnergy Incentive ProgramPACE
Tax Increment Financing
The City of Elk River may utilize tax financing to encourage desirable development or redevelopment that would not otherwise occur but for TIF.
Business Microloans
Provides low interest, long-term (i.e. greater than one year) loans as incentives for new industrial and commercial development within Elk River and to encourage commercial and retail business owners in the downtown district to rehabilitate their existing buildings.
Tax Abatement
Provides incentives for desirable development or redevelopment that would not otherwise occur but-for the assistance provided through tax abatement.
Job Incentive Microloan
Provides financial and technical assistance for the creation and retention of new employment in Elk River
Energy Incentive Program
The Energy Incentive Program offers a savings to qualified applicants on their Elk River Municipal Utilities (ERMU) electric bills for up to two years.
PACE
Property-Assessed Clean Energy (PACE) is a way to finance energy efficiency and renewable energy projects for new or existing buildings of commercial, industrial, nonprofit, and multihousing property owners.
