HomeMy WebLinkAbout1996-034 EDAR1
Commissioner Kristen Mann introduced the following resolution and
moved its adoption:
Section 1. Recitals.
EDA RESOLUTION NO. 95 34
RESOLUTION APPROVING PRELIMINARY DEVELOPMENT AGREEMENT BY AND
BETWEEN THE BROOKLYN CENTER ECONOMIC DEVELOPMENT AUTHORITY
AND DAVE NELSON
BE IT RESOLVED by the Board of Commissioners of the Brooklyn Center
Economic Development Authority (Authority) as follows:
1.01. Dave Nelson (the "Developer has proposed to develop certain
property (the "Property within Housing Development and Redevelopment Project No. 1
"Project and Tax Increment Financing District No. 3 "TIF District in the City of
Brooklyn Center, as described in the Preliminary Development Agreement by and between
the Authority and an entity to be designated by the Developer (The "Agreement which is
hereby incorporated herein.
1.02. The Developer and the Authority wish to consider the Developer's
proposal and negotiate the terms and conditions for the Authority to assist the Developer to
develop the Property.
1.03. During the period of time during which the Developer and the Authority
wish to negotiate the terms and conditions of the Authority's participation in the development
of the Property, the Authority and the Developer seek to protect their respective interests and
give their attention to one another in order to resolve any issued and matters that may arise
during the course of said negotiations.
1.04. A copy of the Agreement has been provided to the Board of
Commissioners of the Brooklyn Center Economic Development Authority.
Section 2. Adootion of Agreement.
2.01. The agreement is hereby approved and the President and the Executive
Director of the Authority are authorized to execute the Agreement on behalf of the
Authority.
2.02. The Executive Director is authorized to make any non material
modifications to the final Agreement prior to execution by the President and the Executive
Director, including, without limitation, inserting the name of the entity designated by the
Developer as party to the Agreement.
2.03. This resolution is effective as of the date hereof.
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RESOLUTION NO. 95 -34
Approved by the Board of Commissioners of the Brooklyn Center Economic
Development Authority this llth day of DecembrIr
1995.
December 11, 1995
Date
The motion for the adoption of the foregoing resolution was duly seconded by commissioner
Debra Hilstrom and upon vote being taken thereon, the following
voted in favor thereof:
Myrna Kragness, Kristen Mann, Debra Hilstrom, and Kathleen Carmody;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.