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DOHERTY <br />RUMBLE <br />& BUTLER <br />PRCq [ 5SIONAI_ ASS('~CIA~ ION <br /> <br />25,}d Minnt'sot~ kX, orid .[radc Center <br /> <br />Saint Paul, Minnesota ~1¢1-4[*® <br /> <br />Jclcph,me ~121 2'~1-u33; <br /> <br />}:..XX (old 2'q-o313 <br /> <br />2170 One Tabt~r Center <br />12t~l ~wcnteenth Stwct <br /> <br />Dcm er, Colorado St121)2-~$23 <br /> <br />Telephone (303~ 572-t,2(lil <br /> <br />[:AX ~303) 572-{,203 <br /> <br />Attorneys at Law V'/rtter s direct dim m. lmber: Reply to Mmneap,~hs otfitc <br />MEMORANDUM <br /> <br />To: <br /> <br />From: <br /> <br />Re: <br /> <br />Date: <br /> <br />Paul Steinman, Executive Director <br />Elk River Economic Development Authority <br /> <br />David Sellergren <br /> <br />West Highway 10 Business Park -- Exclusive Negotiations Agreement <br />May 22, 1997 <br /> <br />We have discussed the issues and a rough concept which involves the EDA assuming an active role <br />in fostering the development of approximately 120 acres of land in western Elk River along Highway <br />10. It is contemplated that this land be developed as a business park. The land is currently owned <br />by at least three owners (the "Owners"). <br /> <br />You desire to negotiate a contract with the Owners which will establish the EDA as an exclusive <br />representative for the marketing and sale of the properties and will address, in part, the following <br />issues: <br /> <br />Establish the purchase price of the land if the EDA brings a buyer/business. <br /> <br />Establish the parameters for marketing the properties. <br /> <br />Establish closing mechanics and timing, which would address such things as survey, <br />environmental issues, title, soils correction, etc. <br /> <br />Address the installation of utilities, particularly facilitating early installation, possibly including <br />a deferral of assessments. <br /> <br />Determine necessary land dedication and easements for streets, utilities, and open space. <br />Establish general design parameters for and target users in the business park. <br /> <br />Other issues to be identified. <br /> <br />I enclose an agreement between the Fridley Housing and Redevelopment Authority and an unnamed <br />private entity. I represented the private entity in negotiating this agreement. It contains some, but <br />not all, of the issues which you desire to address in your negotiations with the Owners. In some <br /> <br /> <br />