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MEMORANDUM OF UNDERSTANDING FOR ANOKA COUNTY ECONOMIC DEVELOPMENT By and Among THE COUNTY OF ANOKA, CONNEXUS ENERGY, METRONORTH CHAMBER OF COMMERCE, AND PARTICIPATING MUNICIPALITIES OF ANOKA COUNTY This Memorandum of Understanding ("MOU") is by, between, and among the County of Anoka, a political subdivision of the state of Minnesota, through its Housing and Redevelopment Authority (HRA), (hereinafter "the County"); Connexus Energy, a Minnesota corporation in Ramsey, Minnesota; MetroNorth Chamber of Commerce, a Minnesota nonprofit organization; and participating Municipalities located within Anoka County, Minnesota (See Exhibit A). For purposes of this MOU, the aforementioned are referred to collectively as the "Hosting Agencies" for the Anoka County economic development initiative. WHEREAS, a research study was completed by a Consultant, Ady Advantage, in December 2017 ("the Study") for a market research analysis and evaluation of business opportunities, targets, and strategies for economic development within Anoka County; and WHEREAS, as a result of the Study, the Hosting Agencies plan to gather with other local cities and community partners to develop a vision, create an action plan, and set realistic goals to implement shared objectives for economic development and business recruitment within Anoka County; and WHEREAS, the Hosting Agencies wish to enter into this MOU to establish organizational structures and to develop specific goals and objectives for the collaboration; NOW, THEREFORE, it is agreed as follows: A. Purpose. The purpose of this MOU is to set a framework for the Hosting Agencies and other participating entities, to further the goals of the economic development collaboration by: (a) outlining general objectives, (b) defining mutual responsibilities, and (c) setting goals, timelines, communication, and other details necessary to achieve the desired outcomes. B. Term. This Memorandum of Understanding is effective upon execution. It will terminate upon the earlier of five (5) years from the date of this MOU; or, at any time with three (3) months' written notice of any entity who is a part of this agreement; or, automatically upon completion and implementation of a Final Action Plan, as determined by the Executive Committee. If it is the desire of the Hosting Agencies to continue this collaboration in excess of 5 years, a new MOU will be created at that time. C. Executive Committee. For purposes of this MOU, the Hosting Agencies will also serve as the Executive Committee for the Anoka County economic development initiative. A Chairperson may be selected by the members of the Executive Committee to set and conduct meetings and be the primary point of contact between the Executive Committee and any subcommittees.