04-054 RESEXTRACT OF MINUTES OF MEETING
OF THE CITY COUNCIL OF THE
CITY OF ELK RIVER, MINNESOTA
HELD: June 21, 2004
Pursuant to due call and notice thereof, a meeting of the City Council of the City of Elk
River, Sherburne County, Minnesota, was duly called and held at the City Hall in said City on
Monday, the 21st day of June, 2004, at 6:30 o'clock p.m.
The following members were present:
Mayor Klinzing, Councilmembers Motin, Kuester, Tveite, and Dietz
and the following were absent:
None
Councilmember Tveite introduced the following resolution and moved its adoption:
RESOLUTION 04-54
AUTHORIZING EXECUTION OF
A TAX ABATEMENT AND BUSINESS SUBSIDY AGREEMENT
A. WHEREAS, Badger Ventures, LLC (the "Developer") has requested that the City
of Elk River, Minnesota (the "City") assist with the financing of certain costs of an
approximately 13,000 square foot light manufacturing facility, to be constructed by the
Developer in the City (the "Project").
B. WHEREAS, the Developer and the City have determined to enter into a Tax
Abatement and Business Subsidy Agreement providing for the City's assistance for the Project
(the "Agreement").
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River,
Minnesota, as follows:
1. The City Council hereby approves the Agreement in substantially the form
submitted, and the Mayor and Administrator are hereby authorized and directed to execute, on
behalf of the City, the Agreement and the Subsidy Agreement attached as Exhibit A thereto.
2. The approval hereby given to the Agreement includes approval of such additional
details therein as may be necessary and appropriate and such modifications thereof, deletions
therefrom and additions thereto as may be necessary and appropriate and approved by the City
officials authorized by this resolution to execute the Agreement. The execution of the
04-54
Agreement by the appropriate officer or officers of the City shall be conclusive evidence of the
approval of the Agreement in accordance with the terms hereof.
The motion for adoption of the foregoing resolution was duly seconded by
Councilmember Motin and, after full discussion thereof, and upon a vote being taken thereof, the
following voted in favor thereof:
Mayor Klinzing, Councilmembers Tveite, Motin, Kuester, and Dietz
and the following voted against same:
None
Adopted this 21 st day of June, 2004.
Attest:
Joa/~, City Clerk
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STATE OF MINNESOTA
COUNTY OF SHERBURNE
CITY OF ELK RIVER
I, the undersigned, being the duly qualified and acting Clerk of the City of Elk River,
Minnesota, DO HEREBY CERTIFY that I have carefully compared the attached and foregoing
extract of minutes with the original minutes of a meeting of the City Council of the City held on
the date therein indicated, which are on file and of record in my office, and the same is a full,
true and complete transcript therefrom insofar as the same relates to a Resolution Authorizing
Execution of a Tax Abatement and Business Subsidy Agreement.
WITNESS my hand as such Clerk of the City Council of the City of Elk River,
Minnesota this ~ day of June, 2004.
Jo an,~ c,14.rni dr, City Clerk
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