EDA Resolution No. 2023-07 (First Amendment to Lease Between EDA and Monticello Parks)EDA RESOLUTION NO.2023-07
RESOLUTION APPROVING A FIRST AMENDMENT TO
LEASE BETWEEN THE CITY OF MONTICELLO
ECONOMIC DEVELOPMENT AUTHORITY AND CITY OF
MONTICELLO PARKS & RECREATION DEPARTMENT
BE IT RESOLVED BY the Board of Commissioners ("Board") of the City of Monticello
Economic Development Authority (the "Authority") as follows:
Section 1. Recitals.
1.01. The Authority currently administers Central Monticello Development Project No.
(the "Project"), pursuant to Minnesota Statutes, Sections 469.090 to 469.1082, as amended.
1.02. To facilitate redevelopment within the Project, the Authority previously acquired
certain property located at 349 West Broadway Street in 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,
the Authority and the Monticello Parks Department, a division of the City of Monticello, Minnesota
(the "Tenant"), entered into that certain Lease Agreement, dated as of December 10, 2018 (the
"Lease"), providing the terms and conditions of the occupancy of the Property by the Tenant for use
as a multi -purpose arts programming craft shop and related storage facility.
1.04. The Lease was extended pursuant to the tenns thereof on May 12, 2021, and the
parties now wish to further extend the Lease and have negotiated a First Amendment of Lease (the
"Amendment") in the form presented to the Board, to extend the tennination date to August 31,
2025, with further extensions allowed by mutual agreement of the parties.
Section 2. Amendment Approved.
2.01. The Board hereby approves the Amendment in substantially the form on file with
the Executive Director, together with any related documents necessary in connection therewith
(collectively, the "Amendment Documents"), and hereby authorizes the President of the
Authority (the "President") and Executive Director, in their discretion and at such time, if any, as
they may deem appropriate, to execute the same on behalf of the Authority, and to carry out, on
behalf of the Authority, the Authority's obligations thereunder when all conditions precedent
thereto have been satisfied.
2.02. The approval hereby given to the Amendment Documents includes approval of
such additional details therein as may be necessary and appropriate and such modifications
thereof, deletions therefrom and additions thereto as may be necessary and appropriate and
approved by legal counsel to the Authority and by the officers authorized herein to execute said
documents prior to their execution; and said officers are hereby authorized to approve said
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changes on behalf of the Authority. The execution of any instrument by the appropriate officers
of the Authority herein authorized shall be conclusive evidence of the approval of such document
in accordance with the terms hereof. This resolution shall not constitute an offer and the
Amendment Documents shall not be effective until the date of execution thereof as provided
therein.
2.03. In the event of absence or disability of the officers, any of the documents
authorized by this resolution to be executed may be executed without further act or authorization
of the Board by any duly designated acting official, or by such other officer or officers of the
Board as, in the opinion of the City Attorney, may act in their behalf. Upon execution and
delivery of the Amendment Documents, the officers and employees of the Board are hereby
authorized and directed to take or cause to be taken such actions as may be necessary on behalf
of the Board to implement the Amendment Documents.
APPROVED this 9th day of August, 2023, by the Board of Commissioners of the City of
Monticello Economic Development Authority.
President
ATTEST:
Exekulve Director
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