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ITEM 9 <br /> ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> • October 10, 1996 EDA Report 96-2 <br /> AMENDMENT TO REDEVELOPMENT AGREEMENT BETWEEN EDA <br /> AND ANOKA MEDICAL PROPERTIES <br /> Proposed Action <br /> Staff recommends adoption of the following motion: Move to approve amendment <br /> to redevelopment agreement between City of Elk River Economic Development <br /> Authority and Anoka Medical Properties and MedCenters Managed Care, Inc. <br /> With approval of this action,Anoka Medical Properties will proceed to close on <br /> the sale of their building to MedCenters Managed Care, Inc. <br /> Overview <br /> A redevelopment agreement was executed in March, 1990, between the City of <br /> Elk River EDA and Anoka Medical Properties. <br /> Such redevelopment agreement allows the EDA the authority to approve any <br /> transfer of the property or change in ownership of the property throughout the <br /> ioterm of the tax increment district or until the bonds are paid in full on the <br /> project. <br /> Anoka Medical Properties is at this time requesting the EDA approve the sale of <br /> their property most commonly referred to as Mork Clinic, to MedCenters <br /> Managed Care, Inc. <br /> Primary Issues to Consider <br /> 0 Will there be any changes in the effect of the redevelopment <br /> agreement or tax increment district due to this sale? <br /> MedCenters Managed Care, Inc. agrees within the amendment that it will <br /> perform all of the obligations and responsibilities of Anoka Medical <br /> Partnership under such redevelopment agreement upon approval of the <br /> amendment and closing on the sale of the property. <br /> Supporting Documents <br /> 0 Draft amendment to redevelopment agreement. <br /> • Paul T. ;teinman, Director of Economic Development <br /> eda\meetings\rpt96-2.doc <br /> 13065 Orono Parkway• P. O. Box 490 • Elk River, MN 55330-1743 • (612) 441-7420 • Fax (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br />