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Ehlers files the Plans with the MN Department of Revenue, Office of the State <br />Before June 30, 2026 Auditor, and requests certification of the TIF District with the County. <br />If the City Council accepts an EDA recommendation at the August 26, 2025 meeting, Staff will work with Ehlers <br />and TAFT Law to begin work on a TIF Agreement, TIF Plan and Public Notices as required by State Statute. <br />Altermatives Include: <br />1) EDA recommendation to the City Council to Approve a TIF Agreement and Business Subsidy in the Amount <br />of $360,000 for TIF Eligible Expenses <br />2) EDA recommendation to the City Council to Approve a TIF Agreement and Business Subsidy in the <br />Amount of $(INSERT NUMBER) for TIF Eligible Expenses <br />3) Something Else <br />Funding Source: <br />The $5000 Application Fee will be used to pay for analysis and drafting of TIF Documents. The Financial <br />Assistance of $360,000 plus 6% interest will be funded through property taxes paid by Zero Zone that is captured <br />by the newly created TIF District. <br />Recommendation: <br />EDA recommendation to the City Council to Approve a TIF Agreement and Business Subsidy in the <br />Amount of $360,000 for TIF Eligible Expenses (as presented) <br />Outcome/Action: <br />Motion to recommend the City Council Approve a TIF Agreement and Business Subsidy in the Amount <br />of $360,000 for TIF Eligible Expenses (as presented) <br />Site Location Map <br />Biz Assistance Application <br />Ehlers TIF Analysis Memo <br />TIF Estimate <br />County Valuation Estimate <br />DRAFT Schedule <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Brian Hagen Brian Hagen 08/07/2025 12:47 PM <br />Form Started By: Sean Sullivan Started On: 08/04/2025 11:24 AM <br />Final Approval Date: 08/07/2025 <br />