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Business Day means any day except a Saturday, Sunday or a legal holiday or a day on <br />which banking institutions in the City are authorized by law or executive order to close; <br />C~ means the City of Elk River, Minnesota; <br />Count means Sherburne County, Minnesota; <br />Developer means Envison Company, LLC, a Minnesota limited liability company; <br />EDA means the Economic Development Authority of the City of Elk River, Minnesota; <br />Event of Default means any of the events described in Section 4.1; <br />Project means the construction of an approximately 80,000 square foot light industrial <br />facility to be constructed by the Developer or Sportech, Inc... at 17464 Tyler Street NW in the <br />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 currently <br />identified as Parcel Identification No. 75-757-0120, 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 />zis9sa6~z 2 <br />