RES 02-02 •
ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 02-02
RESOLUTION APPROVING DEVELOPMENT PROJECT AND
DEVELOPMENT PROGRAM
BE IT RESOLVED by the Board of Commissioners (the "Board") of the Elk River
Economic Development Authority(the "EDA") as follows:
Section 1. Recitals.
1.01. It has been proposed that the EDA 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(collectively, the
"Plans"); and all as reflected in that certain document entitled in part "Development Project No. 1
of the Elk River Economic Development Authority," dated April 8, 2002, and presented for the
EDA's consideration. As used herein, the term "development" includes redevelopment.
1.02. The Board has investigated the facts relating to the Plans and has caused the Plans
to be prepared.
1.03. The EDA has performed certain actions required to be performed prior to the
adoption and approval of the Plans, including the holding by the Board of a public hearing
thereon. The EDA has also requested that the Elk River City Council hold a public hearing on
and thereafter consider approving the Plans.
Section 2. Findings for the Adoption and Approval of the Plans.
2.01. The Board hereby finds that the Plans are in the public interest.
2.02. The Board further finds that, based in part upon the nature of the subject
properties and the intended development thereof, the proposed development would constitute a
"redevelopment project" under Minnesota Statutes, Section 469.002, Subdivision 14 (in part
because the successful completion of improvements in the Project is believed to lessen or prevent
emergence of factors, such as population downturn and resultant economic stagnation, which
may contribute to the emergence of blight); that the proposed developments would not or could
not occur solely through private investment within the reasonably foreseeable future and,
therefore, the use of EDA powers is deemed necessary; that the Plans conform to the general
plan for the development or redevelopment of the City as a whole because the proposed project
is properly zoned or designated for the intended uses, and the anticipated development is in
furtherance of long range plans of the City for the respective areas; and that the Plans will afford
• maximum opportunity consistent with the sound needs of the City as a whole, for the
development of the Project by private enterprise and otherwise because they will enable the EDA
to provide and finance suitable and necessary public inducements.
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• 2.03. The Board further finds that the Plans are intended and, in the judgment of this
Board, their effect will be, to promote the public purposes and accomplish the objectives
specified in the Development Program for Development Project No. 1.
Section 3. Approval and Adoption of the Plans.
3.01. The Plans, as presented to the Board on this date, including all findings and
statements therein, are hereby approved, established, and adopted.
Adopted by the Board of Commissioners of the Elk River Economic Development
Authority on April 8, 2002.
Commissioner Tveite moved the adoption of the foregoing resolution,
which motion was duly seconded by Commissioner Ku e s ter , and upon
vote being taken thereon, the following voted in favor thereof:
President Gongoll, Commissioners Koenig, Dywer, Klinzing, •
Kues ter Tveitt4i '
and the forllowing voted aPthe same:
None.
•
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• SECRETARY'S CERTIFICATE
I, the undersigned,being the duly qualified and acting Secretary of the Elk River
Economic Development Authority,DO HEREBY CERTIFY that I have carefully compared the
attached and foregoing extract of minutes of a duly called and regularly held meeting of the
Board of Commissioners of the EDA held on the date therein indicated with the original minutes
thereof on file in my office and that the same is a full, true, and correct transcript thereof insofar
as said minutes relate to the actions referenced therein with respect to the EDA's Development
Project No. 1.
WITNESS My hand officially this 8th day/of April , 2002.
• r
Secretary
Elk River Economic
Development Authority
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