HomeMy WebLinkAboutResolution No. 534-05 • CITY OF ROCHESTER
COUNTY OF OLMSTED
STATE OF MINNESOTA
RESOLUTION NO.,584"O 5
A RESOLUTION APPROVING AND AUTHORIZING THE
EXECUTION OF A DEVELOPMENT ASSISTANCE AGREEMENT
WITH LUMBER ONE, AVON, INC.
BE IT RESOLVED by the Common Council (the. "Council") of the City of Rochester,
Minnesota(the "City"), as follows:
1. Recitals.
(a) The City has the powers provided in Minnesota Statutes, Sections 469.124
through 469.134 (the "Act").
(b) Pursuant to and in furtherance of the objectives of the Act, the City has
undertaken a program to promote redevelopment of certain land within the City, and in
this connection is engaged in carrying out a development project known as Development
District No. 32 (the "Development District") in an area located in the City.
(c) There has been approved by the Council, pursuant to the Act, a Development
Program for the Development District, as amended(the "Development Program").
(d) In order to achieve the objectives of the Development Program and
particularly to make the land in the Development District available for redevelopment by
private enterprise in conformance with the Development Program, the City has
determined to provide substantial aid and assistance in connection with the Development
Program through the financing of certain of the public costs of development in the
Development District.
(e) Lumber One, Avon, Inc. (the "Company") has presented the City with a
proposal for the construction within the Development District of certain housing
improvements, and a certain Development Assistance Agreement (the "Agreement")
between the City and the Company, stating the terms and conditions of such development
and the City's and the Company's responsibilities respecting the assistance thereof, has
been presented to the Council for its consideration.
2. The Council hereby approves the Agreement substantially in the form presented to the
Council and hereby authorizes the Mayor and City Clerk, in their discretion and at such time, if
any, as they may deem appropriate, to execute the same on behalf of the City, with such
additions and modifications as those officers may deem desirable or necessary, as evidenced by
• their execution thereof.
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R • 3. Upon execution and delivery of the Agreement,the officers and employees of the City
are hereby authorized and directed to take or cause to be taken such actions as may be necessary
on behalf of the City to implement the Agreement, including without limitation the issuance of
the TIF Note thereunder.
4. The Council hereby determines that the execution and performance of the Agreement
will help realize the public purposes of the Act and are in furtherance of the Development
Program.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER,MINNESOTA, THIS i74h DAY OF Gaoler , 2005.
PRESIDENT OF SAID COMMON
COUNCIL
ATTEST:
Aa�q
CITY CLERK
Approved this II+k day of Q 12005.
� T
MAYOR OF SAID CITY
(Seal of the City of
Rochester,Minnesota)
1807751v1 i >3