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The City intends to provide, at no charge, a 6 to 8.5 acre site located at water <br />tower site for development of the facility and potential expansion. The City and <br />Minnesota Sports Federation will masterplan the site and agree to the appropriate <br />acreage to meet this plan (see attached site map). <br /> <br />o <br /> <br />The City recognizes the need for MSF to have access to additional softball fields <br />for summer tournaments. The City represents that it intends to develop four new <br />softball fields on property identified as the "Cass Property". In addition, the City <br />owns 23 acres immediately to the south of the Cass Property which will be <br />available for development between 10 and 15 years. The City's intentions to <br />support MSF and their requirement for outdoor softball fields is as follows: <br /> <br />mo <br /> <br />The City agrees to provide access to the new four fields complex or existing <br />Elk River softball complex on seven to nine weekends per summer (June, <br />July, August, and September - additional to current field usage by Elk <br />River Softball Association of MSF tournaments) by MSF, as necessary. <br />Access to the softball fields shall include concession stands and gate <br />revenue. Usage of the softball fields shall be based on the sports tourism <br />and corresponding economic impact generated to the community by <br />tournaments held by the Minnesota Sports Federation at the fields. <br /> <br />Bo <br /> <br />The City agrees, at the point it no longer requires the use of the 23 acre site <br />for waste disposal, south of the Cass Property, to enter into a $1.00 land <br />lease or equivalent land sale on this property. MSF shall be responsible for <br />development of the site. <br /> <br />o <br /> <br />The City intends to finance the facility, if determined to be financially feasible, <br />through Certificates of Participation and lease the facility to Minnesota Sport <br />Federation. <br /> <br />The City intends to sell the facility to Minnesota Sports Federation, after debt <br />retirement, for the sum of $1.00. <br /> <br />o <br /> <br />The City agrees to provide a "right of first refusal" on the softball fields adjacent <br />to the Minnesota Sports Federation developinent site, should the City decide to <br />relinquish its ownership/control of these fields. <br /> <br />MUTUAL REPRESENTATIONS <br /> <br />The Minnesota Sports Federation and City intend to mutually reach agreement on the <br />following: <br /> <br /> <br />