EDA Resolution 2018-04RESOLUTION NO. 2018-4
A RESOLUTION AUTHORIZING NEGOTIATION OF A PURCHASE
AGREEMENT FOR THE PURCHASE OF PROPERTY LOCATED AT 112
WEST RIVER STREET
WHEREAS, Jordan Dickinson and Jesse Dickinson (together, the "Seller") owns real estate
located at 112 West River Street (the "Property") in the City of Monticello; and
WHEREAS, the City of Monticello Economic Development Authority (the "EDA")
desires to purchase the Property from the Seller in a voluntary, arms -length transaction; and
WHEREAS, EDA staff has caused to be prepared a letter of intent to acquire the Property
for its assessed market value of $370,000 (the "LOP'), and if the offer is accepted by the
Seller, EDA staff and consultants shall cause to be prepared a purchase agreement (the
"Agreement") substantially consistent with the terms of the LOI.
NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the City of
Monticello Economic Development Authority as follows:
I . The recitals set forth in this Resolution are incorporated into and made a part
of this Resolution.
2. The LOI is hereby approved, subject to acceptance of the LOI by the Seller
and subject to formal approval of the Agreement by the EDA.
3. The President and Executive Director are hereby authorized and directed to
execute all appropriate documents necessary to submit the LOI to the Seller and effectuate
the transaction contemplated by this Resolution.
4. The President and Executive Director, staff and consultants are hereby
authorized and directed to take any and all additional steps and actions necessary or
convenient in order to accomplish the intent of this Resolution, including, without
limitation, negotiating the Agreement for approval by the Board.
Approved this 14th day of February, 2018, by the Board of Commissioners of the City of
Monticello Economic Development Authority.
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