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• RESOLUTION NO. 95- <br /> A RESOLUTION AFFIRMING THE INTENT OF THE <br /> ECONOMIC DEVELOPMENT AUTHORITY <br /> FOR THE CITY OF ELK RIVER TO REDEVELOP <br /> ITS SITE IN THE 600 BLOCK OF MAIN STREET <br /> WHEREAS, in 1988 fire destroyed a dental office and a hardware <br /> store in the 600 block of Main Street, Minnesota ("The Redevelopment <br /> Site"), and <br /> WHEREAS, in 1991 the City of Elk River ("The City") acquired the <br /> redevelopment site and conveyed title to the Economic Development <br /> Authority for the City of Elk River ("The EDA"), and <br /> • WHEREAS, State Law grants the tax-exempt status to property that <br /> is owned by the EDA and held for economic development purposes, and <br /> WHEREAS, the EDA has solicited numerous proposals for the <br /> redevelopment site, and <br /> WHEREAS, in the absence of a specific proposal for the <br /> redevelopment site, the EDA recommended that the City incur the cost to <br /> landscape the redevelopment site so as to create an interim use for this <br /> property until a redevelopment project is approved, and <br /> WHEREAS, the landscaping improvements were completed by the <br /> City in 1994; <br /> • <br />