HomeMy WebLinkAbout2003-002 EDAR1
Commissioner
moved its adoption:
February 24, 2003
Date
Kay Lasman
introduced the following resolution and
EDA RESOLUTION NO. 2003 -02
RESOLUTION TERMINATING DEVELOPMENT AGREEMENT WITH
JERRY'S ENTERPRISES, INC.
WHEREAS, the Economic Development Authority (EDA) of Brooklyn Center
entered into a contract with Jerry's Enterprises, Inc. (the "Developer dated January 2, 2002,
entitled DEVELOPMENT AGREEMENT BY AND BETWEEN ECONOMIC DEVELOPMENT
AUTHORITY OF BROOKLYN CENTER AND JERRY'S ENTERPRISES, INC. (the
"Development Agreement under which the EDA agreed to acquire the Development Property as
described in the Development Agreement and to convey it to the Developer; and
WHEREAS, the Developer has secured control of the Development Property,
making acquisition by the EDA unnecessary; and
WHEREAS, the parties have mutually agreed that it is no longer appropriate to
proceed with acquisition pursuant to the Development Agreement.
NOW, THEREFORE, BE IT RESOLVED by the EDA in and for the City of
Brooklyn Center, Minnesota, that the Development Agreement is hereby terminated and of no
further force or effect.
The motion for the adoption of the foregoing resolution was duly seconded by commissioner
Ka thleen Carmody
and upon vote being taken thereon, the following voted in favor thereof:
Myrna Kragness, Kathleen Carmody, Kay Tasman, Diane Niesen, and Bob Peppe;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.