07-17-2006 MEMORANDUM - Laserfiche WebLink

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DRAFT MEMORANDUM OF UNDERSTANDING This Memorandum of Understanding (this "Memorandum") is made as of the day of 2006, by and between The Young Men's Christian Association of Metropolitan Minneapolis, a Minnesota corporation ("YMCA") the City of Elk River ("Cit}~') and the Economic Development Authority in and for the City of Ells River ("EDA"). RECITALS A. The City owns certain real property (the "Site") adjacent to Lake Orono located within Elk River, Minnesota. The EDA proposes to construct on said Site an EDA owned building of approximately 51,000 square feet for the operation of a YMCA (the "Building"). B. The EDA is interested in entering into a lease (the "Lease") with the YMCA, whereby the YMCA will design and the EDA will construct the Building, which will then be leased by the EDA to YMCA for the operation of a YMCA. C. The City will remain the owner of the land. D. The EDA, with approval of the City for a Referendum, will provide financing for the Building in an amount not to exceed $12 million. The YMCA will make lease payments to the EDA in an amount equaling 1 /3 of the annual cost of the financing. E. The YMCA and the EDA will cause the design and construction of the Building to incorporate reasonable architectural appeal, quality building materials, and durable finishes that comply with City standards. F. The YMCA will operate the Building using standard YMCA designed cumculum, practices and guidelines designed for youth, adults, and seniors associated with an aquatics center, fitness center, kids adventure zone, and gymnasiums. G. The YMCA will use memberships that entitle members to services as a part of the membership fee and access to additional programs on a fee basis. The YMCA will offer a package of services and programs similaz to other suburban YMCAs. The YMCA will also provide Elk River residents benefits such as a one-time waiver of up to $79 ofinembership joining fee, periodic family events at a nominal cost and four guest passes per household per yeaz. H. The YMCA will offer to the community who are not members, fee-based programming such as, but not limited to: senior programs, youth development programs such as day/resident camping swimnung lessons, Youth and Government, teen nights, NYPUM. I. The YMCA shall be solely responsible for all programming at the YMCA, and all interior and exterior maintenance and operation of the Building, including all related staffing.