Laserfiche WebLink
City of Elk River <br />City Council <br />Resolution 18-02 <br />A Resolution of the City Council of the City of Elk River Approving the <br />Acquisition and Conveyance of Certain Property and the Execution of <br />Documents in Connection Therewith <br />BE IT RESOLVED by the City Council (the "Council'D of the City of Elk River, <br />Minnesota (the "City'D, as follows: <br />Section 1. Recitals. <br />1.01. The City has acquired certain property in the City (the "City's Property") and <br />intends to convey the City's Property to New Resources, LLC, a Minnesota limited liability <br />company ("Developer"), in connection with the construction by the Developer of a new <br />light maintenance facility with related office and storage space, parking, and street access (the <br />"Project"). <br />1.02. The City proposes to acquire from the Developer certain real property in the <br />City (the "New Resources Property"), in connection with the construction of certain public <br />improvements (the "Public Improvements"). <br />1.03. The City has caused to be prepared a Real Estate Exchange and <br />Development Agreement between the City and the Developer (the "Development <br />Agreement") setting forth the terms and conditions under which the parties will exchange <br />the City's Property and the New Resources Property and undertake the Project and the <br />Public Improvements. <br />Section 2. Approval of Documents. <br />2.01. The City hereby approves the Development Agreement substantially in <br />accordance with the terms set forth in the form presented to the City Council, together with <br />any related documents necessary in connection therewith, including without limitation all <br />deeds, documents, exhibits, certifications or consents referenced in or attached to the <br />Development Agreement (collectively, the "Development Documents") and hereby <br />authorizes the Mayor and City Clerk to negotiate the final terms thereof and, in their <br />discretion and at such tune as they may deem appropriate, to execute the Development <br />Documents on behalf of the City, and to carry out, on behalf of the City, the City's <br />obligations thereunder. <br />2.02. The approval hereby given to the Development Documents includes <br />approval of such additional details therein as may be necessary and appropriate and such <br />modifications thereof, deletions therefrom and additions thereto as may be necessary and <br />NATURE <br />