EDA Resolution 2016-003CITY OF MONTICELLO
WRIGHT COUNTY, MINNNESOTA
ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. EDA- 2016 -003
APPROVING A PURCHASE AND DEVELOPMENT CONTRACT BETWEEN THE
CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY AND
CLEAR CREEK LAND COMPANY, LLC AND
THE CONVEYANCE OF LAND IN CONNECTION WITH THE CONTRACT
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. To facilitate Development of certain property in the Project, the Authority
proposes to enter into a Purchase and Development Contract (the "Contract ") between the
Authority and Clear Creek Land Company, LLC (the "Developer "), under which among other
things the City will convey to the Authority, and the Authority will reconvey to Developer,
certain property described as Outlot A, Otter Creek Crossing 1 st Addition and Outlot C, Otter
Creek Crossing Yd Addition, Wright County, Minnesota (the "Development Property ").
1.03. On May 3, 2016, the planning commission of the City determined by resolution
that conveyance of the Development Property by the City to the Authority for reconveyance to
the Developer complies with the City's comprehensive plan.
1.04. The Authority has on this date conducted a duly noticed public hearing regarding
the sale of the Development Property to Developer, at which all interested persons were given an
opportunity to be heard.
1.05. The Authority finds and determines that conveyance by the Authority of the
Development Property to the Developer is for a public purpose and is in the public interest
because it will further the development objectives of the Project.
Section 2. Contract Approved; Further Proceedings.
2.01. The Board approves the Contract as presented to the Board, including the
provisions for the conveyance of the Development Property therein, 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 Contract by those officials shall be conclusive evidence
of their approval.
479193v1 MNI MN325 -30
CITY OF MONTECELLO
WRIGHT COUNTY, MINNNESOTA
ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. EDA- 2016 -003
2.02. Authority staff and officials are authorized to take all actions necessary to perform
the Authority's obligations under the Contract as a whole, including without limitation execution
of any deed or other documents necessary to convey the Development Property to Developer.
Approved by the Board of Commissioners of the City of Monticello Economic
Development Authority this 11 th day of May, 2016.
President
ATTEST:
xecutive Director
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CERTIFICATION
STATE OF MINNESOTA
COUNTY OF WRIGHT
I hereby certify that the foregoing is a true and correct copy of Resolution No.
EDA- 2016 -003 duly passed, adopted and approved by the Monticello Economic Development
Authority at their meeting on May 11th, 2016 and recorded in minutes of said meeting.
Notary Public:
im ares, Executive Director
Date: / V
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KERRY I BURRI
,.. .- NOTARY PUBLIC - MINNESOTA
My Commission Expires Jan. 31, 2020