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Pr <br /> g: 1_ <br /> City of <br /> Ells <br /> River <br /> Resolution 14-05 <br /> A Resolution of the Economic Development Authority of the City of Elk <br /> River, Transferring funds to the City of Elk River <br /> WHEREAS, the City of Elk River is developing property it owns as Natures Edge <br /> Business Center (NEBC) for community and economic development purposes; and, <br /> WHEREAS, development of NEBC requires the installation of certain public <br /> improvements,including streets and utilities;and, <br /> WHEREAS, the Economic Development Authority (EDA) desires to facilitate the <br /> construction of NEBC by financing the public improvements for NEBC. <br /> NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority <br /> in and for the City of Elk River,Minnesota, that <br /> 1. The EDA finds that the development of NEBC will facilitate economic development <br /> growth in the city by making additional land available for industrial and commercial <br /> development. <br /> 2. The EDA agrees to transfer$568,000 from the EDA to the City Street Reserve Fund for <br /> the express purpose of funding the NEBC public improvements. <br /> Passed and adopted this 15`" day of September, 2014. <br /> ECONOMIC DEVELOPMENT <br /> AUTHORITY IN AND FOR <br /> CITY OF ELK RIVER <br /> Dan Tveite, EDA President <br /> ATTEST: <br /> 4111, <br /> if <br /> Jeremy Baznhar , DA Interim Executive Director <br /> POWERED BY <br /> NATURE <br />