HomeMy WebLinkAboutResolution No. 030-17 - MaineStreetDevelopment.ThirdAmendment
RESOLUTION
BE IT RESOLVED by the Common Council of the City of Rochester that the City approve of
and execute the Third Supplemental Amendment to the Development Agreement with Maine
Street Development Company of Rochester, LLC, and The Gardens Manufactured Home
Community, LLC.
BE IT FURTHER RESOLVED that the City certify with the Olmsted County Auditor the
collection of the obligations contained within said Agreement, with the collection of property
taxes for the individual lots over six years at 4.0% interest, with the first payment being due
,
with the 2018 property taxes. Interest will commence and accrue from the day of City Council
approval for certification.
The Mayor and the City Clerk are authorized and directed to execute this supplemental
agreement on behalf of the City.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS __________ DAY OF _______________, 2017.
___________________________________
PRESIDENT OF SAID COMMON COUNCIL
ATTEST: __________________________
CITY CLERK
APPROVED THIS _____ DAY OF ______________________, 2017.
___________________________________
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)
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