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• AGENDA ITEM 1B <br />• <br />• <br />STAFF ORIGINATOR: Mary Alice Divine <br />DATE: 12/17/01 <br />TOPIC: Consideration of Termination Agreement with H &L <br />Mesabi <br />Vote Required: Simple Majority <br />BACKGROUND: <br />Earlier this evening the Economic Development Authority (EDA) considered <br />approval of an agreement with H &L Mesabi to execute the termination of a <br />Development Agreement and Assessment Agreement with the company. <br />According to state statute, the City Council is also asked to approve the <br />execution of the agreement by Mayor and City Clerk. <br />OPTIONS <br />1. Approve the execution of a Termination Agreement with H &L Mesabi <br />2. Do not approve <br />3. Return to staff for further consideration <br />RECOMMENDATION: <br />Option 1 <br />