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process of acquiring comparable market value for the property. The EDA recommended that the <br />City Council direct City staff to begin negotiations for the acquisition of the property for <br />industrial development purposes. <br /> <br />Council Action: c3 <br /> <br />Motion to direct staff to begin negotiations with Altron for acquisition of the vacant parcel north <br />of Altron to Sunwood Avenue, <br /> <br />Case #5: Alloy Recovery/KIH Erecting Negotiations Update ./b// <br /> <br />During the August 20, 2001 EDA meeting, the EDA recommended City Council direct the City <br />Attorney to complete a purchase agreement with Alloy Recovery's property to the west o£ the <br />Public Works facility. The purchase agreement wording was authorized by the City Council on <br />September 11, 2001. Staff is in the process of negotiations with KIH Erecting for acquisition of <br />their property north of the Alloy Recovery property. <br /> <br />Council Action: <br /> <br />No action is necessary at this time. <br /> <br />Case #6: Darkenwald Project Update /!,/ [ <br /> <br />The Darkenwatd property is located immediately to the east of the Elk River boundary, north of <br />Highway #10. During the August EDA meeting, staff discussed the possibility of a mechanical <br />contracting company building a new facility on the property. Staff has further learned that a <br />second retail/warehouse operation is also interested in building on the proposed site. Staff is in <br />the process of negotiating with the property owner adjacent to Highway #10, immediately to the <br />east of the Elk River boundary. <br /> <br />Council Action: <br /> <br />No action is necessary at this time. <br /> <br />Case #7: EDA Meeting Date /i,/,/ <br /> <br />The EDA agreed on a meeting day of the second Monday of each month. <br /> <br />Council Action: <br /> <br />No action is necessary. <br /> <br />Reviewed by: <br /> <br />City Administrator <br /> <br />CC: 10/09/I)1 <br /> <br /> <br />