City Council Resolution 2016-55CITY OF MONTICELLO
RESOLUTION NO. 2016 -055
RESOLUTION AUTHORIZING
CONVEYANCE OF CITY PROPERTY TO THE
CITY OF MONTICELLO
ECONOMIC DEVELOPMENT AUTHORITY
BE IT RESOLVED by the City Council ( "Council ") of the City of Monticello (the "City ")
as follows:
Section 1. Recitals.
1.01. The Monticello Economic Development Authority ( "Authority ") administers the
Central Monticello Development Project (the "Project "), pursuant to Minnesota Statutes, Sections
469.090 to 469.1082, as amended, to promote economic and job opportunities and to promote the
development of land which is underutilized within the City.
1.02. Pursuant to the Act, the Authority is authorized to acquire real property, or interests
therein, and to undertake certain activities to facilitate the development of real property by private
enterprise.
1.03. The Authority is considering an offer to enter into a Purchase and Development
Agreement (the "Contract') between the Authority and Taylor Holdings, Inc. (the "Developer "),
under which among other things the Authority will convey certain property located within the
Project and legally described in Exhibit A attached hereto (the "Development Property ") to
Developer to facilitate the development of the Development Property.
1.04. The City currently owns the Development Property.
1.05. The City is authorized to convey real property pursuant to Minnesota Statutes
Section 465.035 to any governmental subdivision for a nominal consideration, or pursuant to
Minnesota Statutes Section 471.64 to any other political subdivision of the State.
1.06 The authority is a political subdivision of the State pursuant to Minnesota Statutes
Section 469.091, Subdivision 2.
1.07. The City finds and determines that conveyance of the Development Property to the
Authority is for a public purpose and is in the public interest because it will further the objectives
of the Project.
1.08. The City 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 objectives of the Project.
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Section 2. Authorization.
2.01. The Council approves the conveyance of the Development Property to the
Authority by quit claim deed for re- conveyance to the Developer, subject to approval by the
Authority of the Contract and satisfaction of the conditions for closing provided therein, and
authorizes and directs city staff and officials to execute the deed and related documents necessary
to facilitate the transaction referenced herein and contemplated herein, with all such actions to be
in accordance with the terms and conditions set forth in this Resolution and in the Contract.
2.02. City staff and officials are authorized and directed to take any and all additional
steps and actions necessary or convenient in order to accomplish the intent of this Resolution.
Approved by the City Council of the City of Monticello this�day of 12016.
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EXHIBIT A
Lot 3, Block 29, and Lot 2, Block 29, except the Northwesterly 33 feet thereof, said
Northwesterly 33 feet of Lot 2 being also described as that part of Lot 2 lying
Northwesterly of a line drawn parallel to the Northwesterly line of said Lot 2 and
distant 33 feet Southeasterly of said Northwesterly line, all in Townsite of
Monticello.
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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 2016 -055 duly
passed, adopted and approved by the Monticello City Council at their meeting on August 8, 2016
and recorded in minutes of said meeting.
S hreiber, City Clerk
Notary Public:
Date: Z�L C'r /,I,/
La. VICKI JAN LEERHOFF
NOTARY PUBLIC
MINNESOTA
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