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~sty of <br /> <br />iver <br /> <br />MEMORANDUM <br /> <br />ITEM 5.1. <br /> <br />TO: <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: <br /> <br />Mayor & City Council <br /> <br />Pat Klaers, City Admini~~x~ <br />November 18, 1996 <br /> <br />MSF Letter of Intent <br /> <br />The City Council and representatives of the Minnesota Sports Federation <br />(MSF) met for the second time on October 28, 1996. At this meeting staff was <br />directed to finalize a Letter of Intent with MSF. This Letter of Intent <br />between the city and MSF will provide the framework for future negotiations <br />for a development agreement if the project is deemed financially feasible. <br /> <br />Attached for your consideration is the draft Letter of Intent which both the <br />city staff and MSF have found to be acceptable. Please note (on Page 1) that <br />while "this letter does not represent a binding commitment", it does state <br />that the city intends to give MSF a minimum of 6 acres for this project. <br /> <br />Recommendation <br /> <br />It is recommended that the City Council adopt a motion approving the Letter <br />of Intent between the city and MSF. <br /> <br />\Xelkriver\sysXshrdocXcouncilkletint.doc <br /> <br />13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 <br /> <br /> <br />