3.6. EDSR 11-10-2008 - Laserfiche WebLink

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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY COUNTY OF SHERBURNE STATE OF MINNESOTA RESOLUTION 08- RESOLUTION APPROVING THE ASSIGNMENT OF ASSOCIATED INVESTORS OF ELK RIVER, INC.'S RIGHT, TITLE AND INTEREST IN THE CONTRACT FOR PRIVATE REDEVELOPMENT BY AND BETWEEN THE ECONOMIC DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF ELK RIVER AND ASSOCIATED INVESTORS OF ELK RIVER, INC., FISHER SAND AND AGGREGATE, LLP, AND ELK RIVER BUSINESS PARK, LLC WHEREAS, the Economic Development Authority in and for the City of Elk River ("EDA") has entered into a Contract for Private Redevelopment ("Contract") by and between the EDA and Associated Investors of Elk River, Inc., Fisher Sand and Aggregate, LLP, and Elk River Business Park, LLC (collectively, the "Redeveloper"), dated July 30, 1999; and WHEREAS, pursuant to Section 7 of the Contract, the right, title and interest in the Contract of each of the developer entities maybe assigned with approval of the EDA, which approval will not be unreasonably withheld or delayed; and WHEREAS, the EDA has received a request that it consent to the assignment of Associated Investors of Elk River, Inc.'s right, title and interest in the Contract to Ann S. Fisher, Trustee of the Ann S. Fisher Living Trust u/d/t February 2, 1995; and WHEREAS, the EDA has determined that the ability of the Redeveloper to perform its obligations under the Contract will not be materially impaired by the requested assignment; NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Elk River Economic Development Authority that the assignment of Associated Investors of Elk River, Inc.'s right, title and interest in the contract to Ann S. Fisher, Trustee of the Ann S. Fisher Living Trust a/d/t February 2, 1995 is hereby approved. Dated: November 10, 2008 Patrick Dwyer, President ATTEST: Catherine Mehelich, Executive Director GP:2474182 vl