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CITY OF LINO LAKES <br />ECONOMIC DEVELOPMENT AUTHORITY <br />MINUTES <br />DATE: October 13, 1997 <br />MEMBERS <br />PRESENT: J. Landers, S. Kuether, J. Bergeson, A. Neal <br />MEMBERS <br />ABSENT: C. Lyden <br />OTHERS <br />PRESENT: B. Wessel, M. Divine, R. Schumacher, Dave McGillvery (Springstead), <br />Ron Batty (Kennedy _& Graven) <br />CONSIDERATION OF MINUTES <br />EDA Member Neal moved to approve the minutes of August 25, 1997. EDA Member <br />Kuether seconded the motion. Motion passed unanimously. <br />PUBLIC HEARING ON THE PROPOSED SALE OF PROPERTY IN THE APOLLO <br />BUSINESS PARK TO RICE. INDUSTRIES <br />Mr. Wessel explained that Rice Industries is purchasing the last remaining parcel, totaling <br />1.9 acres, in the city owned portion of the Apollo Business Park. The city is selling the <br />land for $39,000/acre, plus assessments. A public hearing is required when the city is <br />writing down the cost of city -owned property. <br />EDA President Landers opened the hearing at 6:04 p.m. No one was in the audience to <br />speak. EDA Member Kuether asked when the cost of the land would be raised. Mr. <br />Wessel noted that since it was the last piece, it was up to G.M. Development if they <br />wanted to raise the price on the privately owned land. <br />EDA Member Neal moved to close the hearing. EDA Member Bergeson seconded the <br />motion. Motion. passed unanimously Hearing closed at 6:05 p.m. <br />RESOLUTION NO. 97-19 AUTHORIZING SALE OF PROPERTY TO RICE <br />INDUSTRIES <br />EDA Member Kuether moved to approve Resolution No. 97-19. EDA Member Bergeson <br />seconded the motion. Motion passed unanimously. <br />