HomeMy WebLinkAbout1986-082 CCRMember Gene Lhotka introduced the following
resolution and moved its adoption:
RESOLUTION NO. 86 -82
RESOLUTION APPROVING AGREEMENT AND AUTHORIZING
EXECUTION
BE IT RESOLVED by the City Council of the City of
Brooklyn Center as follows:
1. The document entitled: "Agreement Regarding
Construction of and Payment for Certain Public
Improvements" (Agreement) a copy of which is
attached hereto as Exhibit A is hereby approved.
2. The Mayor and City Manager are hereby authorized
to execute the Agreement on behalf of the City.
May 19, 1986
Date Mayo
ATTEST: ._�11�kl'
Clerk
The motion for the adoption of the foregoing resolution was duly
seconded by member Rich Theis and upon vote being taken
thereon, the following voted in favor thereof: Dean Nyquist,
Gene Lhotka, Celia Scott, Bill Hawes, and Rich Theis;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.
RESOLUTION NO. 86 -82
AGREEMENT REGARDING CONSTRUCTION
OF AND PAYMENT FOR CERTAIN PUBLIC IMPROVEMENTS
THIS AGREEMENT made and entered into as of this 19th day
of May, 1986 by and between the CITY OF BROOKLYN CENTER, a
Minnesota municipal corporation (City) and the HOUSING AND
REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF BROOKLYN CENTER, a
body corporate and politic under the laws of, the State of Minne-
sota (HRA).
WITNESSETH:
WHEREAS, the HRA has duly approved a Redevelopment Plan and
Tax Increment Financing District (TIF District) described in that
certain document entitled "Earle Brown Farm Redevelopment and Tax
Increment Financing Plan (Project), City of Brooklyn Center,
Minnesota, July 22 01 1985 and has by appropriate action
established the TIF District and applied to the City Council of
the City of Brooklyn Center for approval of the Project and the
related Tax Increment Financing Plan (Plan); and
WHEREAS, the City has by resolution duly approved the
Project, the Plan and the TIF District; and
WHEREAS, the Project provides for the construction of
certain public improvements (Public Improvements) to be con-
structed and financed by the proceeds of the TIF Bonds; and
WHEREAS, the City has caused plans and specifications for
the construction of such Public Improvements to be prepared and
has prepared estimates for the cost of construction of such
Public Improvements; and
RESOLUTION NO. 86 -82
WHEREAS, the HRA has reviewed the plans and specifications
and finds them to be consistent with the Project and for the
accomplishment of the purposes and objectives for which the
Project has been undertaken; and
WHEREAS, the HRA has reviewed the estimated costs for the
construction of such Public Improvements, and finds the same to
be capable of being financed through the proceeds of the TIF
Bonds; and
WHEREAS, the City is willing to proceed with the construc-
tion of the Public Improvements provided that the HRA agrees and
consents to fund the cost of such Public Improvements through the
TIF Bond proceeds.
NOW, THEREFORE, in consideration of the mutual promises and
covenants hereinafter contained, the parties hereby stipulate and
agree as follows:
1. The City agrees to proceed to award the. contract for
construction of the Public Improvements to the lowest responsible
bidder on the same basis and subject to all terms, conditions and
requirements as are usual and customary in the City's contracting
for the construction of Public Improvements.
2. At such times as the City shall approve the payment (or
payments) from its contractor for work done in connection with
the construction of the Public Improvements, the HRA shall, upon
written request of the City, and upon verification of the request
for payment, pay over to the City amounts equal to such verified
requests for payment; provided, however, that the HRA shall not
be required to pay over to the City any amounts in excess of the
2
RESOLUTION NO. 86 -82
n
i
estimated costs (Excess Amounts) unless the HRA shall subse-
quently determine such Excess Amounts to be (i) reasonable and
necessary to complete the Public Improvements, and (ii) capable
of being financed by the portion of the TIF Bond proceeds allo-
cated to the construction of Public Improvements.
IN TESTIMONY WHEREOF, the parties hereto have set their
L
hands as of the day and year first above written.
CITY OF BROOKLYN CENTER
By/,
Its Mayor
y
By
4ts City anager
HOUSING AND REDEVELOPMENT
AUTHORITY IN AND FOR THE
CITY OF BROOKLYN CENTER
Its
By
'Its I W 4'Director
0007AAO1.E14
3