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fli444*, <br /> C.Ity of <br /> Elk <br /> River <br /> Resolution 14-06 <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, the City of Elk River requires the payment of certain development fees, <br /> including park dedication and surface water management;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 $208,313.70 ,000 from the EDA to the City Street Reserve <br /> Fund for the express purpose of Park dedication ($166,306.02) and Surface Water <br /> Management ($42,007.68) funding the NEBC development. <br /> Passed and adopted this 20th day of October, 2014. <br /> ECONOMIC DEVELOPMENT <br /> AUTHORITY IN AND FOR <br /> CITY OF ELK RIVER <br /> Dan Tveite, EDA President <br /> ATTEST: <br /> iLdiladiâ–º <br /> Jeremy :arnhart, i A nterim Executive Director <br /> P O W [ R E D B Y <br /> NATURE <br />