Laserfiche WebLink
City means the City of Elk River, Minnesota; <br />County means Sherburne County, Minnesota; <br />Developer means Caswell and Osterman Properties, LLC, a Minnesota limited liability <br />company, its successors and assigns; <br />Event of Default means any of the events described in Section 4.1; <br />Project means the construction by the Developer of an approximately 55,000 square foot <br />light industrial facility to be located in the City; <br />State means the State of Minnesota; <br />Tax Abatement Act means Minnesota Statutes, Sections 469.1812 through 469.1815; <br />Tax Abatement Program means the actions by the City pursuant to Minnesota Statutes, <br />Section 469.1812 through 469.1815, as amended, and undertaken in support of the Project; <br />Tax Abatement Property means all and any portion of the real property owned or to be <br />owned by the Developer and described as Lot 2, Block 1, Portside Addition located in the City; <br />Tax Abatements means 100% of the City's share of real estate taxes on the Tax <br />Abatement Property abated in accordance with the Tax Abatement Program. <br />2138910v2 2 <br />