EDA Resolution 2016-012CRT Y OF MONTICELLO
ECONO EC DEVELOPMENT AUTHORET Y
RESOLUTION NO. 2016-0 2 2
RESOLUTION APPROVING A PURCHASE AND REDEVELOPMENT CONTRACT
BETWEEN THE CITY OF MONTICELLO ECONOMIC DEVELOPMENT
AUTHORITY AND APRIL M. STUDER, AND
THE CONVEYANCE OF LAND IN CONNECTION WITH THE AGREEMENT
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.
(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 Redevelopment Contract (the "Contract ") between the
Authority and April M. Studer (the "Developer "), pursuant to which among other things the
Authority will convey to the Developer certain property within the Project described as follows
(the "Development Property "):
The South 1/2 of Lots 1, 2, and 3, in Block 50, Townsite of Monticello, according to the plat
on file and of record in the office of the Register of Deeds in and for Wright County,
Minnesota; Said South '/2 of Lots 1, 2, and 3, Block 50, can also be described as follows:
Beginning at the mid -point on the common line between Lots 3 and 4, in said Block; thence
Southerly along said common line 82.5 feet to the Southerly line of said Block (being the
Southeast corner of said Lot 3); thence Westerly along the Southerly line of Lots 3, 2 and 1
for a distance of 99 feet to the Southwest corner of Lot 1; thence Northerly along the
Westerly line of Lot 1 for a distance of 82.5 feet; thence straight Easterly 99 feet to the point
of beginning and there terminating.
Subject to existing easements, restrictions and reservations of record, if any.
1.03. On December 6, 2016, the Planning Commission of the City reviewed the
proposed conveyance and intended use of the Development Property, and has determined that
such conveyance and intended use are consistent 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
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because it will further the development objectives of the Project, encourage the retention of jobs,
and increase the tax base.
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.
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 14th day of December, 2016.
President
ATTEST:
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