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City of <br /> Elk City of Elk River <br /> Wver City Council <br /> Resolution 18-02 <br /> A Resolution of the City Council of the City of Elk River Approving the <br /> Acquisition and Conveyance of Certain Property and the Execution of <br /> Documents in Connection Therewith <br /> BE IT RESOLVED by the City Council (the "Council") of the City of Elk River, <br /> Minnesota (the "City"), as follows: <br /> Section 1. Recitals. <br /> 1.01. The City has acquired certain property in the City (the "City's Property") and <br /> intends to convey the City's Property to New Resources, LLC, a Minnesota limited liability <br /> company ("Developer"), in connection with the construction by the Developer of a new <br /> light maintenance facility with related office and storage space,parking, and street access (the <br /> "Project"). <br /> 1.02. The City proposes to acquire from the Developer certain real property in the <br /> City (the "New Resources Property"), in connection with the construction of certain public <br /> improvements (the "Public Improvements"). <br /> 1.03. The City has caused to be prepared a Real Estate Exchange and <br /> Development Agreement between the City and the Developer (the "Development <br /> Agreement") setting forth the terms and conditions under which the parties will exchange <br /> the City's Property and the New Resources Property and undertake the Project and the <br /> Public Improvements. <br /> Section 2. Approval of Documents. <br /> 2.01. The City hereby approves the Development Agreement substantially in <br /> accordance with the terms set forth in the form presented to the City Council, together with <br /> any related documents necessary in connection therewith, including without limitation all <br /> deeds, documents, exhibits, certifications or consents referenced in or attached to the <br /> Development Agreement (collectively, the "Development Documents") and hereby <br /> authorizes the Mayor and City Clerk to negotiate the final terms thereof and, in their <br /> discretion and at such time as they may deem appropriate, to execute the Development <br /> Documents on behalf of the City, and to carry out, on behalf of the City, the City's <br /> obligations thereunder. <br /> 2.02. The approval hereby given to the Development Documents includes <br /> approval of such additional details therein as may be necessary and appropriate and such <br /> modifications thereof, deletions therefrom and additions thereto as may be necessary NATUREJ <br />