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City of <br /> Elk <br /> River <br /> Resolution 13- <br /> A Resolution of the City of Elk River Authorizing the Sale of Land <br /> WHEREAS, the City of Elk River,Minnesota (the "City") is the owner of certain real <br /> property located in the City of Elk River,Minnesota identified as Lot 1,Block 3,Nature's Edge <br /> Center, Sherburne County,Minnesota (the "Land"). <br /> WHEREAS, it has been proposed that the City sell the Land to Preferred Powder Coating <br /> LLC (the "Developer"); <br /> WHEREAS, the Developer proposes to acquire the Land for the purpose of constructing a <br /> 100,000 square foot industrial facility and relocating its powder coating business from its <br /> current site in Rogers to the new industrial facility on the Land; <br /> WHEREAS, the Developer proposes to acquire the Land for$1.00 using tax abatements <br /> from the City and County as a business subsidy pursuant to the terms of the Purchase <br /> Agreement attached hereto; <br /> WHEREAS, the City has, on the date hereof,held a public hearing on such sale of the Land. <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River <br /> that the Purchase Agreement for the Land is hereby approved. <br /> The motion for adoption of the foregoing resolution was introduced by Councilmember <br /> and duly seconded by Councilmember and, after full discussion <br /> thereof, and upon a vote being taken thereof,the following voted in favor thereof- <br /> and the following voted against same: <br /> Passed and adopted this 15`''day of July 2013. <br /> John J. Dietz,Mayor <br /> ATTEST: <br /> Tina Allard, City Clerk <br /> POWERED A9 <br /> IN'AWR <br />