RES 95-1 • RESOLUTION NO. 95- 1
A RESOLUTION AFFIRMING THE INTENT OF THE
ECONOMIC DEVELOPMENT AUTHORITY
FOR THE CITY OF ELK RIVER TO REDEVELOP
ITS SITE IN THE 600 BLOCK OF MAIN STREET
WHEREAS, in 1988 fire destroyed a dental office and a hardware
store in the 600 block of Main Street, Minnesota ("The Redevelopment
Site"), and
WHEREAS, in 1991 the City of Elk River ("The City") acquired the
redevelopment site and conveyed title to the Economic Development
Authority for the City of Elk River ("The EDA"), and
• WHEREAS, State Law grants the tax-exempt status to property that
is owned by the EDA and he ld for economic development purposes, and
WHEREAS, the EDA has solicited numerous proposals for the
redevelopment site, and
WHEREAS, in the absence of a specific proposal for the
redevelopment site, the EDA recommended that the City incur the cost to
landscape the redevelopment site so as to create an interim use for this
property until a redevelopment project is approved, and
WHEREAS, the landscaping improvements were completed by the
City in 1994;
• NOW, THEREFORE, BE IT RESOLVED BY THE ECONOMIC
DEVELOPMENT AUTHORITY FOR THE CITY OF ELK RIVER, as follows:
A. The landscape improvements are intended as an interim use for
the redevelopment site.
B. The EDA desires to dispose of the redevelopment site upon
the approval of specific redevelopment plans.
C. Until the redevelopment site is conveyed, the EDA desires
that said site remain as tax-exempt property as provided by
Minnesota Law.
Passed and adopted this 13th day of February, 1995.
J- 411a Moll, Pres t
Elk River E
•
444
William Rubin, Executive Director
Elk River EDA
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