3.0. EDSR 12-21-1998 - Laserfiche WebLink

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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY IP MEMORANDUM TO: Economic Development Authority FROM: Paul Steinman,Director of Economic 1! Development DATE: December 21, 1998 SUBJECT: Consider Resolution 98- Authorizing Commencement of Eminent Domain Proceedings Issue At its November worksession, the EDA discussed the possibility of using its power of eminent domain to facilitate the condemnation of two specific 0 properties which lie within Tax Increment Financing Redevelopment District No.19. At that meeting's discussion it appeared the EDA would consider proceeding with condemnation to facilitate the overall commercial/industrial project for TIF District No. 19. Staff has had several discussions regarding this issue with Associated Developers and, as indicated, it would not recommend that the EDA proceed with condemnation until, at a minimum, an outside date had been established for Associated Developers to complete its purchase of the Earl Hohlen property. As per the attached letter from Associated Developers, an outside date of January 15, 1999, has been established for a closing on the purchase of the Earl Hohlen property by Associated Developers. Tony Gleekel, representing Associated Developers, will be present at the meeting to address issues raised by the EDA regarding this proceeding. City Attorney Peter Beck has drafted the attached resolutions and will also be available at the EDA meeting to address any issues regarding the recommended action. The two properties on which Associated Developers is requesting the EDA to use its powers of eminent domain include the following: (110 • James Mevissen- 2.04 acres estimated market value $110,900 13065 Orono Parkway • P. 0. Box 490 •Elk River, MN 55330-1743 • (612) 441-7420• Fax (612) 441-7425 Equal Opportunity Housing and Equal Opportunity Employment