RES 14-06 fli444*,
C.Ity of
Elk
River
Resolution 14-06
A Resolution of the Economic Development Authority of the City of Elk
River, Transferring funds to the City of Elk River
WHEREAS, the City of Elk River is developing property it owns as Natures Edge
Business Center (NEBC) for community and economic development purposes; and,
WHEREAS, the City of Elk River requires the payment of certain development fees,
including park dedication and surface water management;and,
WHEREAS, the Economic Development Authority (EDA) desires to facilitate the
construction of NEBC by financing the public improvements for NEBC.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority
in and for the City of Elk River, Minnesota, that
1. The EDA finds that the development of NEBC will facilitate economic development
growth in the city by making additional land available for industrial and commercial
development.
2. The EDA agrees to transfer $208,313.70 ,000 from the EDA to the City Street Reserve
Fund for the express purpose of Park dedication ($166,306.02) and Surface Water
Management ($42,007.68) funding the NEBC development.
Passed and adopted this 20th day of October, 2014.
ECONOMIC DEVELOPMENT
AUTHORITY IN AND FOR
CITY OF ELK RIVER
Dan Tveite, EDA President
ATTEST:
iLdiladiâ–º
Jeremy :arnhart, i A nterim Executive Director
P O W [ R E D B Y
NATURE