5.0.-11.0. EDSR 05-09-1994 - Laserfiche WebLink

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from the Carton family to Elk River Associated Investors, Inc. Said easement relates to the Carton family providing a 66 foot easement over its property in order for the Associated Investors to enter the Industrial Park. With the Associated Investors sale of its remaining property to the EDA in 1992, the EDA is considered the Investor's successor or assigns. It does not appear, however, that a claim was ever recorded actually creating the easement referenced in 1974. In order to clear this title objection, the Elk Park Partnership is asking the EDA to execute a Quit Claim Deed as evidence that it does not claim an interest in the Talbot property. ACTION REQUESTED The EDA is asked to authorize its President and its Executive Director to sign a Quit Claim Deed releasing its deed to a 66 foot easement interest in the James Talbot property located adjacent to the Elk River Industrial Park along County Road#1. 8. SUPPORT FOR CERTIFIED DEVELOPMENT COMPANY'S TEMPORARY EXPANSION In mid to late April, EDA Commissioner Pat Dwyer had a meeting with a Director and the.Administrator of the renamed Coon Rapids Development Company (CRDC). Its new legal name is Central Minnesota Development Company (CMDC), and this change was authorized by its shareholders at its annual meeting in November, 1993. With the name change, CMDC still desires to expand its service territory and the candidate counties are Sherburne and Isanti. CMDC's strategy for this expansion would be to establish alliances with banks in the respective counties to create a prospect referral system. For that reason, a meeting was scheduled with Pat Dwyer as a representative of The Bank of Elk River, Among other things, Commissioner Dwyer learned the following in his meeting with CMDC officials: • This group has severed its ties with the City of Coon Rapids. • Although it is still a nine member Board, approximately 52 percent of its shareholders live outside the Coon Rapids city limits; 1/3 of its shareholders live outside of Anoka County.