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<br /> <br />City of Elk River <br />City Council <br /> <br />Resolution 26-12 <br /> <br />A Resolution of the City Council of the City of Elk River authorizing the <br />application to the Minnesota Innovative Business Development Public <br />Infrastructure grant program and the commitment of funds thereto. <br /> <br />BE IT RESOLVED, that the City of Elk River act as the legal sponsor for the project <br />contained in the Innovative Business Development Infrastructure Application to be <br />submitted on or before March 15, 2026, and that Mayor Dietz and the City Council are <br />hereby authorized to apply to the Department of Employment and Economic Development <br />for funding of this project on behalf of the City of Elk River. <br /> <br />BE IT FURTHER RESOLVED, that the City of Elk River has the legal authority to <br />apply for financial assistance, and the institutional, managerial, and financial capability to <br />ensure matching funds, adequate construction, operation, maintenance, and replacement of <br />the proposed project for its design life. <br /> <br />BE IT FURTHER RESOLVED, that the City of Elk River has not violated any Federal, <br />State or local laws pertaining to fraud, bribery, graft, kickbacks, collusion, conflict of interest <br />or other unlawful or corrupt practice. <br /> <br />BE IT FURTHER RESOLVED, that upon approval of its application by the state, the <br />City of Elk River, may enter into an agreement with the State of Minnesota for the above <br />referenced project, and that it will comply with all applicable laws and regulations as stated in <br />all contract agreements. <br /> <br />BE IT FURTHER RESOLVED, that the source of the Applicant’s matching funds shall <br />be the Economic Development Authority fund which has adequate funding to cover the <br />commitment. <br /> <br />BE IT FURTHER RESOLVED, that the City of Elk River has committed $150,000 <br />towards the local match requirement. <br /> <br />BE IT FURTHER RESOLVED, that the City of Elk River will repay the grant if <br />milestones are not realized by the completion date identified in the Application. <br /> <br />Page 54 of 395