5.0. EDSR 03-11-2002 Item 5 .
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City of
Elk -�-1
River MEMORANDUM
TO: Economic Development Authorty
FROM: Lori Johnson, Finance Director
DATE: March I I, 2002
SUBJECT: Consider Resolution Initiating Process for Consideration of
Development Project (Public Safety and ERMU Buildings)
Plans are proceeding for the construction of a public safety facility and the relocation of Elk
River Municipal Utilities to City Hall with construction estimated to start this June. The City
Council has proposed financing these buildings with lease revenue bonds issued by the
Economic Development Authority. Because there are several different parties, the EDA,
ERMU and City,involved in this project, and because this is a lease revenue bond, there will
be numerous steps and action items that require official action in the financing process.
The first step is for the EDA and City Council to call separate public hearings to discuss the
proposal that the EDA establish Development Project No. 1 and adopt the development
program for the development project collectively called"the Plans." The development
project includes authorization for the EDA to issue bonds to finance construction of the
public safety and public utility buildings. The attached resolution calls for the public
hearings to be held at the April 8 EDA and City Council meetings. Public comment on the
Plan must be taken at both the EDA and City Council meetings. The Planning Commission
will also be reviewing the Plan on March 26 to determine the consistency of the Plan with
the City's comprehensive plan. However, all comments on the financing component of the
Plan will be directed to the EDA and City Council.
Action Requested
The EDA is asked to consider the attached resolution initiating process for consideration of
development project.
S:Council/Lori/ResolDevProjC.doc
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• RESOLUTION 02-_
A RESOLUTION OF THE CITY OF ELK RIVER
ECONOMIC DEVELOPMENT AUTHORITY
A RESOLUTION INITIATING PROCESS FOR CONSIDERATION OF
DEVELOPMENT PROJECT
BE IT RESOLVED by the Board of Commissioners (the "Board") of the Elk River
Economic Development Authority(the "EDA"), as follows:
1. Recitals
a) Pursuant to Minnesota Statutes, Sections 469.090 through 469.108,
the EDA has been established and is authorized to exercise
development and redevelopment powers, among others.
b) In furtherance of the objectives of the EDA, the EDA has
proposed to establish its Development Project No. 1 (the
"Project") and adopt the Development Program for the Project,
all pursuant to Minnesota Statutes, Sections 469.001 through
469.047, 469.090 through 469.108, and 469.124 through 469.134,
respectively(collectively, the "Plans").
• 2. Public Hearing of the Board
As required by its enabling legal authority, the Board will hold a public
hearing on the Plans at a meeting of the Board to be held in the Elk
River City Hall on Monday, April 8, 2002, commencing at approximately 6:00
p.m., Central Time. The staff of the EDA is hereby authorized and directed to
cause the notice of public hearing which is attached to this Resolution to be
published in the City's official newspaper not less than 10 days and not more
than 30 days prior to the scheduled hearing date.
3. City Council Hearing
It is necessary for the Elk River City Council to hold a public hearing on
the Plans, and the EDA hereby requests the Council to hold such public
hearing, following notice thereof having been published not less than 10 and
not more than 30 days prior thereto.
Passed and adopted this 11th day of March 2002.
Jeff Gongoll, President
ATTEST:
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Sandra A. Peine, City Clerk
S/eda/resCondrDevepmnt
• NOTICE OF PUBLIC HEARING
ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY
NOTICE IS HEREBY GIVEN that the Board of Commissioners (the "Board") of the Elk
River Economic Development Authority(the "EDA")will hold a public hearing on Monday,
April 8, 2002, at a meeting of the Board beginning at approximately 6:00 p.m., Central Time, in
the Elk River City Hall, 13065 Orono Parkway, Elk River, Minnesota, relating to the proposal of
the EDA to establish its Development Project No. 1 (the "Project") and adopt the Development
Program for the Project to reflect public development and redevelopment costs and activities, all
pursuant to Minnesota Statutes, Sections 469.090 through 469.108, 469.001 through 469.047 and
469.124 through 469.134, respectively. A copy of the relative documentation proposed to be
considered at the hearing is on file and available for public inspection in the office of the City
Finance Director at the Elk River City Hall.
All interested persons may appear at the public hearing and present their views orally or
in writing.
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