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November 18 , 1996 <br /> <br />Honorable Mayor Henry A. Duitsman <br /> and City Council for the <br /> City of Elk River <br /> 13065 Orono Parkway <br /> Elk River, MN 55330 <br /> <br />Re~ <br /> <br />"Letter of Intent" for <br />Minnesota Sports Federation Project <br /> <br />~TRODUCTION <br /> <br />The Minnesota Sports Federation and the City of Elk River do hereby express their intent to mutually <br />explore the feasibility of proceeding with the development of a 59,500 square foot recreational facility. <br />This letter represents the proposed terms and conditions to mutually proceed with the investigation and <br />negotiation phase of project development and financing. <br /> <br />NOTWITHSTANDING ANYTHING TO THE CONTRARY, HOWEVER, THIS LETTER DOES NOT <br />REPRESENT A BINDING COMMIT/V[ENT, BY EITHER PARTY, TO PROCEED WITH THE <br />DEVELOPIvlENT, FINANCING, OR OPERATION OF THE PROJECT. <br /> <br />PROJECT DESCRIPTION <br /> <br />The proposed development project consists of approximately a 59,500 square foot indoor sports <br />recreational facility to be operated by the Minnesota Sports Federation. The facility is proposed to be <br />constructed on a minimum 6-acre site (final acreage to be mutually determined after review and approval <br />of the site plan) located at the water tower site, south of Highway 10 and bordered by Hudson Street to <br />the west. <br /> <br />The facility will be a multi-use indoor sports facility designed for volleyball, basketball, touch football, <br />indoor soccer, and wrestling. The facility will contain offices, locker rooms, food service, meeting rooms, <br />and will be the official home of the Minnesota Amateur Sports Hall of Fame. <br /> <br />The Minnesota Sports Federation will utilize the facility for conducting clinics, recreational league <br />activities and tournaments. In addition, the City and Minnesota Sports Federation will work together to <br />develop local programming and preferential fees to benefit area residents. <br /> <br /> <br />