RES 14-04 RESOLUTION NO. 14-04
A Resolution of the City of Elk River Economic Development Authority of the City
of Elk River, Accepting Donation of Real Property
WHEREAS, Thomas E. Hartman and Sara S Hartman are fee owners ("Owners") of real
property located within the City of Elk River ("City") described on the attached Exhibit"A" (the
"Property");and
WHEREAS, Owners desire to donate the Property to the Economic Development Authority
in and for the City of Elk River ("EDA");and
WHEREAS, the EDA desires to accept donation of the Property by Owners, subject to the
conditions set forth below;and
WHEREAS, the Property has an outstanding real estate tax liability to Sherburne County in
excess of$70,000;and
WHEREAS, the Property has an estimated fair market value in excess of$260,000, according
to tax records at Sherburne County;and
WHEREAS, the parties agree that all costs associated with the transaction,with the exception
of legal fees and other costs incurred by Owner,will be paid by the EDA.
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE ECONOMIC
DEVELOPMENT AUTHORITY OF THE CITY OF ELK RIVER, MINNESOTA:
1. The EDA finds that the fair market value of the Property is in excess of the outstanding
real estate tax liability.
2. The EDA accepts donation of the Property subject to the outstanding real estate tax
liability, and authorizes the EDA President and Staff to execute all documents and take
all appropriate measures to accept donation of the Property, subject to the following
conditions:
(a) EDA determining that it is satisfied with the title to the Property, based on the
EDA's review of title matters;and (b) EDA Staff determining that it is satisfied with
the results and matters disclosed by an inspection and/or environmental investigation
of the Property, at the EDA's cost, conditioned upon the Owner granting a right of
entry to the Property for such inspections by the EDA,its employees and contractors.
Adopted this 25th day of August,2014
ECONOMIC DEVELOPMENT
AUTHORITY IN AND FOR
CITY OF ELK RIVER
`PAN el— P.TV F T=,President
Attest 4
fileor
411Lfigrr •
Jer-"y B. art,Deputy Director
Community Operations and Development
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EXHIBIT"A"
Lot 1,Block 1, Fox Haven Commercial,Sherburne County,Minnesota
Lot 2,Block 1, Fox Haven Commercial, Sherburne County,Minnesota
A-1
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