HRA Resolution 1994-12HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF MONTICELLO
RESOLUTION NO . 94 -12
RESOLUTION APPROVING CONTRACT FOR PRIVATE REDEVELOPMENT
WITH WILLIAM R. AND BARBARA R. TAPPER
WHEREAS, the Housing and Redevelopment Authority in and for the City of
Monticello ( "Authority ") is administering its Redevelopment Project No. 1
("Project"); and
WHEREAS, within the Project the Authority has approved creation of Tax
Increment Financing District No. 1 -9 in order to facilitate certain manufacturing
development; and
WHEREAS, the Authority has reviewed an Amendment to Contract for Private
Redevelopment between the Authority and William R. and Barbara R. Tapper ( the
"Contract ") specifying the respective obligations of William R. and Barbara R.
Tapper and the Authority regarding certain manufacturing development within the
TIF District; and
WHEREAS, the Authority has determined that it is in the best interests of the
Authority and the City as a whole to enter into the Contract;
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the
Housing and Redevelopment Authority in and for the City of Monticello as follows:
1. The Contract is hereby approved in substantially the form presented
to the Authority on this date, subject to modifications to the Contract that do not
materially alter the nature of the transaction, which are approved by the Chair and
Executive Director; provided that execution of the Contract by such officials shall
be conclusive evidence of such approval.
2. The proper Authority officials are authorized and directed to execute
the Contract on behalf of the Authority, and to carry out on behalf of the Authority
the Authority's obligations thereunder.
Approved by the Board of Commissioners of the Housing and Redevelopment
Authority in and for the City of Monticello this 7th day of DECEMBER , 1994.
Chai
ATTEST:
Secretary
SJB80291
MN190 -31