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<br />. <br /> <br />. <br /> <br />. <br /> <br />Economic Development Authority Minutes <br />August 10, 1992 <br /> <br />Page 2 <br /> <br />As seller, the EDA's obligation is to remove the excess soil <br />that is stockpiled on the site. <br /> <br />After the excess fill is removed to an agreed upon elevation, soil <br />borings and an analysis will be conducted within the proposed <br />foundation area of the Tescom building. <br /> <br />If necessary, poor soils will be excavated and stable materials <br />will be brought in and compacted. <br /> <br />As buyer, Tescom Corporation is required to begin construction <br />of a 25,000 to 30,000 square foot facility no later than a <br />specified date such as spring of 1993. <br /> <br />Tescom Corporation is required to complete said building by a <br />specified date such as fall of 1993. <br /> <br />Tescom Corporation is required to sign an assessment agreement <br />which establishes the minimum market value for tax purposes of the <br />land and building. <br /> <br />Tescom Corporation is further required to execute <br />development which further sets forth the terms <br />which development of Lot e will Occur. <br /> <br />a contract for <br />and conditions by <br /> <br />President Gongoll opened the public hearing. There being no further <br />comments from the public, President Gongoll closed the public hearing. <br /> <br />COMMISSIONER KROPUENSKE MOVED TO AUTHORIZE THE SALE OF LOT 8, BLOCK 1, <br />ELK RIVER INDUSTRIAL PARK TO TESCOM CORPORATION UNDER THE TERMS AND <br />CONDITIONS WHICH WILL BE SPELLED OUT IN GREATER DETAIL IN A DEVELOPMENT <br />CONTRACT. COMMISSIONER DWYER SECONDED THE MOTION. THE MOTION CARRIED <br />7-0. <br /> <br />7. Consider Development Agreement with Jarmoluk Family Trust <br /> <br />Bill Rubin indicated that a contract spelling out the terms and <br />conditions by wpich the Jarmoluk Family Trust will be reimbursed the <br />principal sum of $70,000 under a pay-as-you-go tax increment <br />redevelopment project has been reviewed by the City and the Jarmoluk <br />Family Trust. He stated that both parties agree with the terms and <br />conditions of the document. <br /> <br />COMMISSIONER TRALLE MOVED TO APPROVE THE REDEVELOPMENT CONTRACT FOR THE <br />MAIN STREET DENTAL CLINIC BY AND BETWEEN THE ELK RIVER EDA AND THE <br />JARMOLUK FAMILY TRUST. COMMISSIONER KROPUENSKE SECONDED THE MOTION. <br />THE MOTION CARRIED 7~0. <br /> <br />8. <br /> <br />Update on EDA Main Street Exclusive Option <br /> <br />Bill Rubin stated the EDA authorized staff to contact Gary Santwire, <br />R.E.P. Ltd., so that he could provide the EDA Commissioners with a <br />written or verbal update at this EDA meeting. Mr. Rubin indicated that <br />he sentMr.Santwire a letter to this effect, but he received no <br />