HomeMy WebLinkAbout1999-026 EDARMember Robert Peppe introduced the following resolution and moved its
adoption:
EDA RESOLUTION NO. 99 -26
RESOLUTION AMENDING THE BROOKLYN CENTER ECONOMIC
DEVELOPMENT AUTHORITY BUDGET FOR PROJECTS UNDERTAKEN
DURING THE YEAR 1999
WHEREAS, the Brooklyn Center Economic Development Authority adopted a
budget for the operation of the Brooklyn Center Economic Development Authority during the year
1999; and,
WHEREAS, construction of houses in the development along 53rd Avenue were
undertaken during the year which resulted in revenues from house sales of about $2,420,000 and
construction costs of about $2,250,000; and,
WHEREAS, acquisition of properties at 69th Avenue and Brooklyn Boulevard were
made at a cost of $1,650,000 which are financed through the proceeds of the 1995 bonds; and,
WHEREAS, several grants were applied for to facilitate the redevelopment of the
Joslyn Site which require the EDA to be the recipient of the grant revenue and pay the proceeds
to the developer in the amount of $1,460,000.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority for the City of Brooklyn Center that the 1999 budget of the Economic Development
Authority for said City is hereby amended to increase the following:
ESTIMATED REVENUES:
Intergovernmental revenues State Metro Council grants $1,460,000
Sale of property 2,420,000
Transfer from Fund Balance (bond proceeds) 1.480.000
Total Revenue by Source $5,360,000
APPROPRIATIONS:
Joslyn Redevelopment contracts $1,460,000
Construction contracts for 53rd Avenue 2,250,000
Purchases of property 69th Brooklyn Boulevard 1.650.000
Total Appropriations $5,360,000
December 13, 1999 _______VArtA-e____t_ArgrA.A..4___
Date Preside
The motion for the adoption of the foregoing resolution was duly seconded by member
Ed Nelson and upon vote being taken thereon, the following voted in favor thereof:
Myrna Kragness, Debra Hilstrom, Kay Lasman, Fri Nelson, and Robert Peppe;
and the following voted against the same• none,
whereupon said resolution was declared duly passed and adopted.