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Development Program for Development Project No. 1 • and Establishment of the Development Project Area Section 1.1. Definitions. The terms defined below, for purposes hereof, shall have the following respective meanings, unless the context specifically requires otherwise. As used herein, the term "development" includes redevelopment, and the term "developing" includes redeveloping. "City" means the City of Elk River, Minnesota. "Council" means the Elk River City Council, the City's governing body. "County" means Sherburne County, Minnesota. "Development Program" means the Development Program for the Development Project, hereby adopted, as the same may be amended. "Development Project" means the EDA's Development Project No. 1 within the City, hereby established, as the same may be amended. (Note: the initial Project Area is the City Hall campus, being the property depicted on the attached Exhibit A.) "Development Project Area" or "Project Area" means the real property within the City constituting the Development Project, as amended. "EDA" means the Elk River Economic Development Authority. • "Enabling Act" means Minnesota Statutes, Sections 469.090 to 469.108, and all other powers and statutes referenced therein, including Minnesota Statutes, Sections 469.001 through 469.047 and 469.124 through 469.134. "State" means the State of Minnesota. Section 1.2. Background and Purposes. Pursuant to the Enabling Act, the City established the EDA. In establishing and maintaining the Development Project and adopting and implementing the Development Program it is the EDA's purpose to benefit and/or achieve development areas, goals, objectives, development costs, and activities to the fullest extent permitted by the Enabling Act and other applicable law. It is hereby found that through such efforts the necessary development of the City can be assisted and accomplished more consistently, efficiently, and economically. Pursuant to Section 469.094, Subdivision 2, of the Enabling Act, the EDA is authorized to exercise the powers of a city with respect to a development district under Minnesota Statutes, Sections 469.124 through 469.134, and the powers of a housing and redevelopment authority under Minnesota Statutes, Sections 469.001 through 469.047, among other powers, and it is the intention of the EDA and the City that the EDA shall have and be permitted to exercise any and • all such powers, and all other powers provided pursuant to the Enabling Act, as may be deemed 1382791v1 1