3.0. EDSR 10-26-1998 ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY
MEMORANDUM
TO: Economic Development Authority
ROM: Paul T. Steinman, Director of Economic
Development
DATE: October 22, 1998
SUBJECT: Agenda Memo for October 26, 1998,
Special Meeting
3. Public Hearing-Sale of EDA-owned Industrial Land
The purpose of this special EDA meeting is to hold a public hearing to
allow citizens an opportunity to provide input on the sale of the EDA-
owned industrial lot in the Elk River Industrial Park. Notification of this
public hearing was provided in the Star News on Wednesday, October 14,
1998, as is required by Minnesota Statute.
• As stated in Minnesota Statute, the Authority shall, upon holding the
public hearing, make its findings and decision on whether the sale of the
property is advisable and enter its decision in its records.
Background
The sale of this lot is for the purpose of completing construction of a 35-
40,000 square foot manufacturing facility for Supermats, Inc. The
development contract between the EDA and Supermats (Bryan L. Jones)
was approved at the September meeting of the Economic Development
Authority. Such development contract outlines various mechanisms to
guarantee that the building will be constructed on the site within a
certain time frame and that, upon completion, the building and land will
have a market value of not less than$900,000. The sale prices is $1 to the
developer with tax increment reimbursing the EDA for the full value of
the lot.
Recommendation
Staff recommends the Authority find that the sale of Lot 2, Block 2, Elk
River Industrial Park, is advisable and appropriate and in the best
interest of the city, and that the transaction furthers the Authority's
general plan of economic development for the City of Elk River.
13065 Orono Parkway• P. O. Box 490 • Elk River, MN 55330-1743 • (612) 441-7420 • Fax (612)441-7425
Equal Opportunity Housing and Equal Opportunity Employment
Affidavit of Publication
STATE OF MINNESOTA )
• COUNTY OF SHERBURNE))ss.
£\'+mac bek cc r f-iS
being duly sworn, on oath says that he/she is the pl
authorized agent and employee of the publisher of tit
per known as The Elk River Star News,and has full l
of the facts which are stated below:
(A) The newspaper has complied with all the req
constituting qualification as a qualified newspaper,a
by Minnesota Statute 331A.02, 331A.07, and other
laws,as amended. � \
-NOTICE OF PUBLIC HEARING (B)The printed L-) C�,
CITY OF ELK RIVER
COUNTY OF SHERBURNE
STATE OF MINNESOTA
Notice is hereby given that the Economic Development Authority of the City which is attached was cut from the columns of said n
of Elk River,County of Sherburne,State of Minnesota,will hold a public hear-
ing on Monday, October 26, 1998, at 5:45 p.m. in the Elk River City Council and was printed and published once each week,for_
Chambers at the Elk River City Hall,Elk River,Minnesota,relating to the sale cessive weeks it was first published on Wednesday,the
of industrial property in the city of Elk River pursuant to Minnesota Statutes,
Section 469.105,Subd.2.The terms and conditions of the sale are available for day of C;C' bG�'� , 19n1 , and was
public inspection at the office of the Executive Director of the Economic printed and published on every Wednesday to and
Development Authority at Elk River City Hall.
The property to be sold is a 2.39 acre lot located in the Elk River Industrial y�
Wednesda the day of
P
P. ' .e Parcel Identification Number is listed below:
-0120. and printed below is a copy of the lower case alphabet
A =pis set forth below. Z,both inclusive,which is hereby acknowledged as bei
N. 1/2 S.W. 1/4 SEC. 28 T. 33 N., R. 26 W.
-t�`–-x- _ and kind of type used in the composition and publics
1 - ! 1— , \\ _ ,y- notice.
�4 - -LT A .
abcdefghijklmnopgratuvwxyz
1� .r d • �I
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SUBJECT PROPERTY
Vi-(\ Y,1 BY: 0 . a�
I,.w • 1 ininkl.\, \ __.. i TITLE: ( C.Wir'Q\ M(),-nC Y
Subscribed and sworn to before me on this 1 01—
SF ,_, 111 "�!j --- - CC�b r , 19.9_B._.-- ,__ -- 1L-__-- ---- - -
—
All interested persons may appear at the hearing and present their views oral- �Q20,41/04.17/ /ly or prior to the meeting in writing. V�
BY ORDER OF THE ECONOMIC DEVELOPMENT AUTHORITY OF THE L"'
Notary Pu is (j CiND
CITY OF ELK RIVER,MINNESOTA, l
Henry A.Duitsman,President N1, 1,i
Paul Steinman,Executive Director i`"' _
(Oct14) 'Rn.i
RATE INFORMATION
(1) Lowest classified rate paid by
commercial users for comparable
space $ I a l
II (2) Maximum rate allowed by law for
the above matter $ 9/7
(3) Rate actually charged for the
above matter $ 9
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