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Meeting of the Economic Development <br />Authority <br />Held at the Elk River City Hall <br />Monday, November 4, 2024 <br /> <br /> <br />Members Present: Councilmember Mike Beyer, Councilmember Cory Grupa, Councilmember <br />Jennifer Wagner, Councilmember Matt Westgaard, Commissioner Charlie <br />Blesener, Commissioner Jeff Hartwig, Commissioner Dan Tveite <br /> <br />Members Absent: None <br /> <br />Staff Present: Economic Development Brent O'Neil, Economic Development Specialist Joshua <br />Mollan, and Recording Secretary Jennifer Green <br /> <br />1. CALL MEETING TO ORDER <br /> <br /> <br /> 1.1 Special EDA Meeting Notice for November 4, 2024 <br /> <br /> Pursuant to due call and notice thereof, the meeting was called to order at 6:13 p.m. <br /> <br /> <br />2. PLEDGE OF ALLEGIANCE <br /> The Pledge of Allegiance was recited. <br /> <br /> <br />3. GENERAL BUSINESS <br /> <br /> 3.1 Resolution Amending Purchase Agreement of the Fox Haven Site to Java Companies <br /> <br /> Mr. O'Neil presented the staff report and noted they are very close to closing on the sale of the Fox <br />Haven properties to Java Companies. He reviewed details of the staff report regarding the possession <br />being taken by an affiliated company which requires EDA consent. He then outlined the reversion <br />clause details by modifying the size of the footprint to 4,500 square feet, and a two-tier requirement on <br />performance with site work including clearing vegetation occurring in the first year and delivering the <br />project in full by the end of the the second year. The buyer is offering to increase the purchase price by <br />$10,000. <br /> <br />Commissioner Westgaard noted it was a reasonable request and nice to see the increase of the offer <br />with the concessions on timeline and reversion clause and was in support of the modifications. <br /> <br />Moved by Commissioner Westgaard and seconded by Commissioner Hartwig to approve <br />Resolution 24-08 amending terms of the purchase agreement at 13566 and 13530 185th <br />Street NW to Java Companies as outlined in the staff report. <br /> <br />Motion Carried 7-0. <br /> <br /> <br />