EDA Resolution 2018-16CITY OF MONTICELLO
ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 2018-16
RESOLUTION APPROVING A LEASE BETWEEN THE CITY OF MONTICELLO
ECONOMIC DEVELOPMENT AUTHORITY AND THE CITY OF MONTICELLO
PARKS DEPARTMENT
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 redevelopment within the Project, the Authority previously acquired
certain property described in Exhibit A (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
over the short term, the Authority proposes to enter into a two-year Lease Agreement (the
"Lease") between the Authority and the City of Monticello Parks Department (the "Tenant"),
pursuant to which the Authority will lease the Property to the Tenant for use as a multi-purpose
arts programming craft shop and related storage facility.
1.05. The Authority finds and determines that the lease of the Property by the Authority
to the Tenant is for a public purpose and is in the public interest because it will further the
development objectives of the Project, prevent further blight or blighting conditions, and
maintain the tax base.
Section 2. Lease Approved; Further Proceedings.
2.01. The Board approves the Lease as presented to the Board, 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 Lease 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 Lease as a whole.
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Approved by the Board of Commissioners of the City of Monticello Economic
Development Authority this 8th day of August, 2018.
ATTEST:
Exec t' e Director
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EXHIBIT A
PROPERTY
The South %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 1/2 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.
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