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-Price <br /> • EDA quoted price to Tescom was $60,000; please refer to the <br /> City Administrator's memo regarding a price quoted to the <br /> School District. <br /> Use of Sale Proceeds <br /> Proceeds from this land sale should be earmarked by the EDA to <br /> repay one of many City accounts that were accessed to purchase <br /> the Industrial Park sites from the Associated Investors. Tax <br /> increments generated from the Timron development and the <br /> Tescom development will nearly repay the City the amount <br /> prorated to the acquisition value of the industrial sites. This <br /> however, should not diminish the ability of the EDA to achieve a <br /> fair price for its remaining industrial parcel. <br /> Pat Klaers will be in attendance to provide an overview of the District <br /> 728 proposal, as the writer of this memo did not participate in any of <br /> the earlier negotiations. <br /> Action Requested <br /> Assuming that the School District is still interested in pursuing this <br /> • site as an expansion option, the EDA may be asked to schedule a <br /> public hearing to discuss the terms and conditions by which Lot 8, <br /> Block 1 would be conveyed. The public hearing is an EDA statutory <br /> requirement. <br /> 9. Industrial Park Activities in Ramsey <br /> A recent article from UPA's Capsule News provided readers with an <br /> update on Anoka Electric Cooperative's (AEC) proposed expansion <br /> plans in Ramsey, Minnesota. AEC recently acquired a large tract of <br /> land along County Road 56 (Ramsey Boulevard)as the site of its new <br /> corporate headquarters and warehouse facility. According to the <br /> article, the balance of the property will,be developed as an industrial <br /> park - by way of a development agreement with the city of Ramsey. <br /> The purpose for bringing this to the attention of the EDA is to remind <br /> Commissioners that the Business Park Task Force aggressively <br /> pursued REA funds through AEC to assist with underwriting a portion <br /> of the infrastructure costs of a business park in Elk River. The <br /> message delivered from AEC was that of"if we help one community we <br /> will have to help all the communities in our service territory". It is <br />