08-015 RESRESOLUTION 08-15
EXTRACT OF MINUTES OF MEETING
• OF THE CITY COUNCIL OF THE
CITY OF ELK RIVER, MINNESOTA
HELD: February 19, 2008
Pursuant to due call and notice thereof, a meeting of the City Council of the City of Elk
River, Sherburne County, Minnesota, was duly called and held at the City= Hall in said City on
b/onday, the 19th day of February, 2008, at 6 : 30o'clock p.m.
The following members were present:
Mayor Klinzing, Councilmembers Motin, Zerwas,and Gumphrey
and the following were absent:
Conrtcilmember Farber
Member Motin
introduced the following resolution and moved its adoption:
RESOLUTION NO. OR-15
AUTHORIZING EXECUTION OF AN
AMENDMENT TO TAX ABATEMENT AND
BUSINESS SUBSIDY AGREEMENT
• A. WHEREAS, the City and Mowry Properties, LLC, a Minnesota limited liability
company (the "Developer") have entered into Tax Increment and Business Subsidy Agreement
Agreement, dated as of August _, 2007 (the "Tax Abatement and Business Subsidy Agreement")
in connection with the construction of an approximately 60,000 square foot light industrial facility to
be located in the City (the "Project"); and
B. WHEREAS, the City and the Developer wish to amend the Tax Abatement and
Business Subsidy Agreement as provided in the First Amendment to Tax Abatement and Business
Subsidy Agreement (the "First Amendment") to reflect the change in the description of the Tax
Abatement Property as a result of the Tax Abatement Property being subdivided and replatted.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City= of Elk River,
Minnesota, as follows:
1. The City Council hereby approves the First Amendment in substantially the form
submitted, and the Mayor and Administrator are hereby authorized and directed to execute the First
Amendment on behalf of the City.
2. The approval hereby given to the First Amendment includes approval of such
additional details therein as may be necessary and appropriate and such modifications thereof,
deletions therefrom and additions thereto as may be necessary and appropriate and approved by the
City officials authorized by this resolution to execute the First Amendment. The execution of the
First Amendment by the appropriate officer ox officers of the City shall be conclusive evidence of
the approval of the First Amendment in accordance with the terms hereof.
. The motion fox adoption of the foregoing resolution was duly seconded by member
ZPY47A S2 and, after full discussion thereof, and upon a vote being taken thereof, the
following voted in favor thereof:
Mayor Rlinzing, Councilmembers Moton, Zerwas, and Gumphrey
i
and the following voted agauist same:
None
Adopted this 19th day of February, 2008.
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Attest: ~/
Clerk
•
Mayo
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