EDA Resolution 2021-01CITY OF MONTICELLO
ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO.2021-01
RESOLUTION APPROVING A LEASE BETWEEN THE CITY OF MONTICELLO
ECONOMIC DEVELOPMENT AUTHORITY AND ALIVE LUTHERAN CHURCH
BE IT RESOLVED by the Board of Commissioners ("Board") of the City of Monticello
Economic Development Authority ("Authority") as follows:
Section 1. Recitals.
1.01. The Authority currently administers Central Monticello Development Project No.
1 (the "Project"), pursuant to Minnesota Statutes, Sections 469.090 to 469.1082, as amended.
1.02. The Authority has acquired certain real property within the Project located at 121
West Broadway Avenue, Monticello, Minnesota (the "Property'), and intends to hold the
Property until such time as a favorable redevelopment prospect is presented to the Authority.
1.03. In order to maintain the Property and to prevent additional blighting conditions
over the short term, the Authority proposes to memorialize an unwritten month -to -month Lease
Agreement (the "Lease") with Alive Lutheran Church (the "Tenant"), which was assigned to the
Authority by the seller of the Property, pursuant to which the Authority will lease the Property to
the Tenant for use as a church.
1.04. The Authority finds and determines that the lease of the Property by the Authority
to the Tenant is for a public purpose and is in the public interest because it will further the
development objectives of the Project, prevent further blight or blighting conditions, and
maintain the tax base.
Section 2. Lease Approved; Further Proceedings.
2.01. The Board approves the Lease as presented to the Authority, subject to
modifications that do not alter the substance of the transaction and that are approved by the
President and Executive Director, provided that execution of the Lease by those officials shall be
conclusive evidence of their approval.
2.02. Authority staff and officials are authorized to take all actions necessary to perform
the Authority's obligations under the Lease as a whole.
701518v1 TNiR NIN325-42
Approved by the Boar of Commissioners of the City of Monticello Economic
Development Authority this day of February, 2021.
Presid nt
ATTEST:
�e Director
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