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LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br /> RESOLUTION NO. 24-01 <br /> RESOLUTION APPROVING THE SALE OF LAND WITHIN THE CITY OF LINO LAKES <br /> WHEREAS, the Lino Lakes Economic Development Authority (the "EDA") has the authority <br /> to sale property for economic development purposes; and <br /> WHEREAS, certain real land identified as Anoka County Tax Parcel, 18-31-22-41-0011, <br /> legally described on Exhibit A, attached hereto, is located in the Apollo Business Park; and <br /> WHEREAS, the parcel may be used to promote economic development and allow for <br /> expansion of abutting industrial property; and <br /> WHEREAS, the parcel is guided for Industrial use in the City's 2040 Comprehensive Plan <br /> and zoned LI, Light Industrial; and <br /> WHEREAS,the sale of the property will provide for enhancement of the City's tax base and <br /> assist in the retention of a local business. <br /> NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Lino Lakes <br /> Economic Development Authority that: <br /> 1. The sale of parcel 18-31-22-41-0011 To MIT USA LLC, in the amount of $900.00 <br /> plus fees, is hereby approved subject to such terms incorporated into the purchase agreement <br /> for said property. The President and Executive Director are hereby authorized to execute a <br /> purchase agreement, deed and other documents as may be necessary in order to sell the <br /> property. <br /> Adopted by the Board of Commissioners of the Lino Lakes Economic Development <br /> Authority this 22nd day of January, 2024. <br /> 0;Y <br /> President, c S es2 <br /> ATTEST: <br /> 1 <br /> �1�W� <br /> Executive Director, Sarah Cotton <br />