Laserfiche WebLink
Special Meeting of the Elk River <br />River Economic Development Authority <br />Held at the Elk River City Hall <br />Monday, August 25, 2014 <br />Members Present: President Tveite, Commissioners Burandt, Dwyer, Motin and Provo <br />Members Absent: Commissioners Westgaard and Wilson <br />Staff Present: Jeremy Barnhart, Deputy Director, Community Operations and <br />Development <br />I . Call Meeting to Order <br />Pursuant to due call and notice thereof, the meeting of the Elk River Economic <br />Development Authority was called to order at 5:30 p.m. by President Tveite. <br />2. Consider 07/21/2014 Agenda <br />Moved by Commissioner Motin and seconded by Commissioner Dwyer to approve <br />the August 25, 2014, agenda. <br />• Motion carried 5 -0. <br />3.a Consider Acquisition of Lots I and 2, Block I, Fox Haven Commercial by <br />Donation <br />3.b Consider Budget Amendment <br />Mr. Barnhart presented the staff report on acquiring the Fox Haven commercial lots in <br />exchange for paying the property taxes of $79, 387.77. Mr. Barnhart noted that through <br />preliminary due diligence investigation, one of the lots held a farmhouse that was burned <br />down, and the rubble appears to have been backfilled into the foundation. There is some <br />concern that chemicals and asbestos might be present, but this wouldn't be known until <br />more investigation can be completed. <br />Commissioner Dwyer noted that the city's share of the past due taxes further reduces the <br />acquisition costs. <br />Motin questioned which lot held the farmhouse. Mr. Barnhart noted he expects to find out <br />at the completion of the environmental assessment. <br />Commissioner Provo questioned what our liability is, if the remediation comes back at an <br />excessive level. Mr. Barnhart noted that there is a risk. Mr. Barnhart stated he anticipates <br />the remediation costs to be minor, and under the fair market value of the properties. <br />• <br />