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City of Elk River City Council Resolution 26-12 A Resolution of the City Council of the City of Elk River authorizing the application to the Minnesota Innovative Business Development Public Infrastructure grant program and the commitment of funds thereto. BE IT RESOLVED, that the City of Elk River act as the legal sponsor for the project contained in the Innovative Business Development Infrastructure Application to be submitted on or before March 15, 2026, and that Mayor Dietz and the City Council are hereby authorized to apply to the Department of Employment and Economic Development for funding of this project on behalf of the City of Elk River. BE IT FURTHER RESOLVED, that the City of Elk River has the legal authority to apply for financial assistance, and the institutional, managerial, and financial capability to ensure matching funds, adequate construction, operation, maintenance, and replacement of the proposed project for its design life. BE IT FURTHER RESOLVED, that the City of Elk River has not violated any Federal, State or local laws pertaining to fraud, bribery, graft, kickbacks, collusion, conflict of interest or other unlawful or corrupt practice. BE IT FURTHER RESOLVED, that upon approval of its application by the state, the City of Elk River, may enter into an agreement with the State of Minnesota for the above referenced project, and that it will comply with all applicable laws and regulations as stated in all contract agreements. BE IT FURTHER RESOLVED, that the source of the Applicant's matching funds shall be the Economic Development Authority fund which has adequate funding to cover the commitment. BE IT FURTHER RESOLVED, that the City of Elk River has committed $150,000 towards the local match requirement. BE IT FURTHER RESOLVED, that the City of Elk River will repay the grant if milestones are not realized by the completion date identified in the Application.