RES 08-04 • EXTRACT OF MINUTES OF MEETING
OF THE BOARD OF COMMISSIONERS
OF THE ECONOMIC DEVELOPMENT AUTHORITY
OF THE CITY OF ELK RIVER, MINNESOTA
HELD: April 14, 2008
Pursuant to due call and notice thereof, a meeting of the Board of Commissioners of the
Economic Development Authority of the City of Elk River, Sherburne County, Minnesota, was
duly called and held at the City Hall in the City of Elk River on Monday, the 14th day of April,
2008, at 5:30 o'clock p.m.
The following Commissioners were present:
President Gongoll,Commissioners Dwyer,Farber,Klinzing,Motin,Tveite,and Zerwas
and the following were absent: None
Commissioner Tveite introduced the following resolution and moved its adoption:
RESOLUTION 08-04, AUTHORIZING THE
SALE OF LAND
A. WHEREAS, the Economic Development Authority of the City of Elk River,
Minnesota (the "Authority") is the owner of certain real property located in the City of Elk
River, Minnesota identified as Lot 4, Block 1, NORTHSTAR BUSINESS PARK, Sherburne
County, Minnesota, Parcel Identification No. 75-757-0120 (the "Land").
B. WHEREAS, it has been proposed that the Authority sell the Land to Envision
Company, LLC. (the "Purchaser"),pursuant to Minnesota Statutes, Section 469.029.
C. WHEREAS, the Authority and the Purchaser have entered into a purchase
agreement providing for the sale of the Land, contingent on, among other things, the approval of
such sale following a public hearing (the "Purchase Agreement").
D. WHEREAS, the Authority has, on the date hereof, held a public hearing on such
sale of the Land.
E. WHEREAS, under the terms of the Purchase Agreement, the Purchaser is
obligated to pay the Authority the purchase price of$1.00.
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the
Economic Development Authority of the City of Elk River as follows:
1. The Board of Commissioners hereby approves the sale of the Land in accordance
with the terms of the Purchase Agreement,the execution of which is hereby ratified.
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The motion for adoption of the foregoing resolution was duly seconded by Commissioner
Zerwas and, after full discussion thereof, and upon a vote being taken thereof, the following
voted in favor thereof:
President Gongoll, Commissioners Dwyer, Farber, Klinzing, Motin, Tveite, and Zerwas
and the following voted against same: No one
Adopted this 14th day of April, 2008.
P - ent ongo
Attest:
(C--
Recording Sec(re ary
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• STATE OF MINNESOTA
COUNTY OF SHERBURNE
ECONOMIC DEVELOPMENT
AUTHORITY OF THE CITY OF ELK RIVER
I, the undersigned, being the duly qualified and acting Recording Secretary of the
Economic Development Authority of the City of Elk River, DO HEREBY CERTIFY that I have
carefully compared the attached and foregoing extract of minutes with the original minutes of a
meeting of the Board of Commissioners of said Economic Development Authority 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 Approving the Sale
of Land.
WITNESS my hand as such Recording Secretary of the Economic Development
Authority of the City of Elk River of this 15th day of April, 2008.
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