RES 23-45u
City of Elk River
City Council
Resolution 23-45
A Resolution of the City Council of the City of Elk River Authorizing the
Conveyance of Property Owned by the City of Elk River to the Economic
Development Authority for the City of Elk River, Minnesota
WHEREAS, the City of Elk River, Minnesota, (the "City") is the fee owner of certain real
property located at 10835 170th Avenue NW (PID No. 75-820-0105), legally described as:
Lot 1, Block 1, Natures Edge Business Center, according to the recorded plat thereof,
County of Sherburne, State of Minnesota (the "Property"); and
WHEREAS, there is no future use of the Property contemplated by the City; and
WHEREAS, Thunderstruck Exteriors, Inc., a Minnesota business corporation (the
"Developer"), proposed that it would like to purchase and develop the Property, and on
May 19, 2023, entered into a purchase agreement with the Economic Development
Authority for the City of Elk River, Minnesota (the "EDA") for the purchase and
development of the Property; and
WHEREAS, the City desires to work with the EDA to facilitate the conveyance of the
Property to the Developer; and
WHEREAS, the City is authorized to convey real property to the EDA pursuant to
Minnesota Statutes, Sections 465.035 and 471.64; and
W H E REAS, the City and the EDA have followed applicable statutory provisions,
including but not limited to, Minnesota Statutes, Section 465.035, Minnesota Statutes,
Section 469.101 and Minnesota Statutes, Section 471.64, in authorizing the conveyance of
the Property; and
WHEREAS, the City has determined it is most cost effective to convey the Property to
the EDA by this Resolution and a standard quit claim deed; and
WHEREAS, the Property shall be subsequently conveyed by the EDA to the Developer
pursuant to Minnesota Statutes, Section 469.105 for development purposes; and
WHEREAS, the City finds and determines that conveyance of the Property as
contemplated herein to the EDA is for a public purpose and is in the public interest.
Np 0 1 1 A f 9 1 1
ATURE
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NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River, Minnesota, as follows:
1.01. The City Council hereby authorizes the conveyance of the Property to the EDA.
The proceeds of the conveyance of the Property by the EDA to the developer shall be
transferred by the EDA to the City, less any costs incurred by the EDA in the transaction.
1.02. That the Mayor and the City Clerk, and other City staff as necessary are hereby
authorized to execute the quit claim deed and any documents and certificates deemed
necessary to carry out the intentions of this resolution.
1.03. This resolution shall be effective as of the date hereof.
Passed and adopted this 6`' day of November 2023.
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N�4TURE
EL185-73-913102.v1