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