EDA Resolution #2022-11 Approving Redevelopment GrantCITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO.2022-11
RESOLUTION APPROVING A
REDEVELOPMENT GRANT IN CONNECTION WITH
THE BLOCK 52 REDEVELOPMENT
WHEREAS the City of Monticello Economic Development Authority (the "Authority")
applied for a redevelopment grant from the Minnesota Department of Employment and Economic
Development ("DEED") in connection with the Block 52 Redevelopment Project; and
WHEREAS, Authority staff submitted a redevelopment grant application to DEED and the
Authority has been awarded an Redevelopment Grant in the amount of $517,500 (the "Grant"); and
WHEREAS, DEED presented the Authority with a Redevelopment Grant Contract
Agreement for Grant No: RDGP-22-0009-o-FY22 (the "Agreement") in connection with the Grant
in substantially the form presented to the Authority, and Authority staff has reviewed the Agreement
and recommend its approval; and
WHEREAS the Authority agrees that it will comply with all applicable laws and regulations
as provided in the Agreement in its administration of the Grant.
NOW THEREFORE BE IT RESOLVED THAT the Monticello Economic Development Authority
approves the Agreement in substantially the form presented to the Authority, and authorizes the
President and Executive Director to execute on behalf of the Authority the Agreement and any other
documents requiring execution by the Authority in order to give effect to the Agreement.
Authority staff and consultants are authorized to take any actions necessary to carry out the
intent of this resolution, including without limitation the negotiation of a contract with the Developer
providing for the disbursement of grant proceeds consistent with the Agreement.
Adopted by the Board of Commissioners of the City of Monticello Economic Development.
Authority this 27th day of April, 2022.
President
549602v2 NOU RS275-16