8.2. SR 10-21-2013 - Laserfiche WebLink

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City(f River 13065 Orono Parkway F_lk Rivcr,ININ 55330 July 1,2013 Richard Erdmanti Executive Vice President and General Counsel The Conservation Fund 1655 North I"ort Flyer Drive, Suite 1300 Arlington, Virginia 22209 RE: Houlton farm, Elk 16ver, NI Dear Mr. Erdmann: We have discussed this project with Steve Hobbs and the City oL'.I-,'Ik Diver (City; requests the assistance of The Conservation fund (t1le "Fund"' to acquire and permanently protect the above- referenced property. We believe your help is critical as we assemble all of the necessary resources to obtain ownership of this roughly 340-acre natural resource area (the"Property"'). Protection of the Property is a high priority for the City and out partners as an important regional park and natural area. The City is requesting that the Fund provide professional guidance and technical assistance to the City to facilitate the I)rOCCSS OFaCC!L1iTin,,Y the Propew. Itis anticipated that 0-le Fund will provide L L I-) i it he current willing seller and work with the transactional I tral al. ass'stancc in acciiii ing the propertN from tf City to secure funding for the purchase. he City and the Fund understand that it n-iay not be possible to eitlier secure sufficient funding or complete this acquisition. The parties acknowledge that a great deal,of time, effort, and risk is required of the Fund to successfully complete this project, including securing funding, worldnt-y with the seller, and I'D ?.�' I completing the necessary clue diligence. It is also understood that the Fund may need to pre- acquire the Propert)T and 'hold it 17or a time, at some risk and cost to the I'und, in order to secure the transaction for the City. The Cin, agrees to reimburse the lAind, only from grant fu ids and donations it receives with the assistance of the Pund, for its costs related to the transaction including: actual expenses for appraisal, legal, title review, survey, propem, taxes, environmental sui\,cv, staff time of the Fund,it accordance with the billin n g rates attached hereto as Exhibit "A", t'not to exceed S77,000), closing costs, and interest at 4.25% annually, should we incur such expenses. These costs are only payable to the Fund upon final acquisition of the Property by the City from the Fund. If the Fund pre- acquires the Property, but for any reason, Che City is unable to complete its acquisition of the Phone: 763.635.1000 I Y Fax: 763.635.1090 f�NATURE www.Elk1iiver'.\fN.gov