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( t i of <br /> Elk <br /> River <br /> Resolution 14-07 <br /> A Resolution of the Elk River Economic Development Authority Approving <br /> Conveyance of Real Property <br /> WHEREAS, the Elk River Economic Development Authority ("EDA") desires to convey <br /> the property legally described in the purchase agreement between the EDA and Scatman Holdings, <br /> LLC ("Buyer") attached hereto as Exhibit A ("Purchase Agreement") for construction of a parking <br /> lot to serve Buyer's adjoining property; <br /> WHEREAS the EDA finds that the sale of the Property pursuant to the terms of the <br /> Purchase Agreement is in the public's interest and furthers the aims and purposes of the EDA; <br /> WHEREAS the EDA held a public hearing on October 20, 2014, on the proposed sale of <br /> the Property, following published notice of the proposed sale in accordance with Minn. Stat. <br /> 169.105; <br /> WHEREAS, the City of Elk River currently owns a portion of Lot 1,Block 1,Northstar <br /> Business Park, Sherburne County,Minnesota which includes a portion of the property to be <br /> conveyed by the EDA under the Purchase Agreement as legally described in Exhibit B ("City <br /> Parcel"); <br /> WHEREAS, to facilitate the conveyance of the Property and clear title to the Property, the <br /> City proposes to convey by quit claim deed to the EDA, the City's interest in Lot 1, Block 1, <br /> Northstar Business Park; <br /> NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority <br /> of the City of Elk River that: <br /> 1. the EDA does hereby accept the City's conveyance of its interest in Lot 1,Block 1, <br /> Northstar Business Park; <br /> 2. the EDA approves the Purchase Agreement; <br /> 3. the EDA President and Executive Director are authorized to execute all documents <br /> necessary,in the opinion of the City Attorney, to effect the sale of the Property pursuant to the <br /> terms of the Purchase Agreement. <br /> 178723v2 <br />