HomeMy WebLinkAbout1999-013 EDAR1
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Commissioner Debra Hilstrom introduced the following resolution and
moved its adoption:
EDA RESOLUTION NO. 99 -13
RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF A
DEVELOPMENT AGREEMENT FOR THE JOSLYN POLEYARD WITH TWIN LAKE
BUSINESS PARK (REAL ESTATE RECYCLING)
WHEREAS, the Brooklyn Center Economic Development Authority (the "Authority
has caused to be prepared a Development Agreement between the Authority and Twin Lakes
Business Park, a Minnesota limited liability company (the "Development Agreement a form of
which has been presented at this meeting; and
WHEREAS, pursuant to the Development Agreement the Authority has agreed to
provide tax increment assistance to the Developer to help pay the cost of the removal and remediation
of certain hazardous substances on the Development Property (as defined in the Development
Agreement).
NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority
in and for the City of Brooklyn Center, Minnesota as follows:
The Board of Commissioners hereby approves the Development Agreement in
substantially the form submitted, and the President and Executive Directoare hereby
authorized and directed to execute the Development on behalf of the Authority.
April 26, 1999
Date
Li22, 41"-
President
The motion for the adoption of the foregoing resolution was duly seconded by commissioner
Robert Peppe and upon vote being taken thereon, the following voted in favor thereof:
Myrna Kragness, Debra Hilstrom, Kay Lasman, Ed Nelson, and Robert Peppe;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.