EDA Resolution #2022-01 Authorizing Submittal of Redevelopment Grant AppCITY OF MONTICELLO
ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO.2022-01
RESOLUTION AUTHORIZING SUBMITTAL OF REDEVELOPMENT GRANT
APPLICATION TO MN -DEED IN THE AMOUNT OF $5179500
WHEREAS, Deephaven Development LLC. act as the legal sponsor for project(s) contained
in the Redevelopment Grant Program to be submitted on February 1, 2022, and that City of
Monticello Economic Development Authority is hereby authorized to apply to the Department of
Employment and Economic Development for funding of this project on behalf of Deephaven
Development LLC.
WHEREAS, Deephaven Development LLC. has the legal authority to apply for financial
assistance, and the institutional, managerial, and financial capability to ensure adequate project
administration.
WHEREAS, the sources and amounts of the local match identified in the application ARE
COMMITTED to the project identified.
WHEREAS, if the project identified in the application fails to substantially provide the
public benefits listed in the application within five years from the date of the grant award,
Deephaven Development LLC. may be required to repay 100 percent of the awarded grant per
Minn. Stat. § 116J.575 Subd. 4;
WHEREAS, Deephaven Development LLC. has not violated any Federal, State or local
laws pertaining to fraud, bribery, graft, kickbacks, collusion, conflict of interest or other unlawful
or corrupt practice.
WHEREAS, upon approval of its application by the state, Deephaven Development LLC.
may enter into an agreement with the State of Minnesota for the above referenced project(s), and
that Deephaven Development LLC. certifies that it will comply with all applicable laws and
regulation as stated in all contract agreements.
NOW, THEREFORE BE IT RESOLVED that the City of Monticello Economic
Development Authority is hereby authorized to execute such agreements as are necessary to
implement the project(s) on behalf of the applicant.
I CERTIFY THAT the above resolution was adopted by the City of Monticello Economic
Development Authority of Deephaven Development LLC. on January 12, 2022.
E
Steve John o�,EA President
Attest: