HomeMy WebLinkAbout1996-025 EDAR1
Commissioner Debra Hilstrom introduced the following resolution and
moved its adoption:
EDA RESOLUTION NO. 96 -25
RESOLUTION APPROVING 53RD AVENUE DEVELOPMENT AND
LINKAGE PROJECT BUDGET AND AMENDING EDA RESOLUTION NO.
91 -33, A RESOLUTION ESTABLISHING ENDOWMENT ACCOUNT AND
AUTHORIZING CERTAIN HOUSING ACTIVITIES AND PROGRAMS BE
UNDERTAKEN BY THE ECONOMIC DEVELOPMENT AUTHORITY IN
AND FOR THE CITY OF BROOKLYN CENTER
WHEREAS, EDA Resolution No. 91 -33 established an endowment account and
authorized certain housing activities and programs be undertaken by the Economic Development
Authority in and for the City of Brooklyn Center, Minnesota; and
WHEREAS, EDA Resolution No. 91 -33 authorized the EDA to use the interest
earnings from the $1,000,000 endowment account on authorized housing programs and activities;
and
WHEREAS, the Brooklyn Center City Council has amended Resolution No. 91 -277
to provide for the use of the principal amount of the endowment account for use in the 53rd
Avenue Development and Linkage Project; and
WHEREAS, the Brooklyn Center City Council has directed the EDA to administer
and execute the 53rd Avenue Development and Linkage Project.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority in and for the City of Brooklyn Center, Minnesota, as follows:
1. EDA Resolution No. 91 -33 is hereby amended as follows:
a. The fourth paragraph of EDA Resolution No. 91 -33 is amended to read:
"NOW, THEREFORE, BE IT RESOLVED, by the Economic
Development Authority in and for the City of Brooklyn Center that the
funds received from the above described transfer of funds be deposited in
an endowment account and that the deposited funds may be used by the
EDA for the housing activities and programs described in this resolution."
b. Following paragraph (d) on the second page of EDA Resolution No. 91-
33, the following paragraph shall be added: "e. Expenditures authorized
under Minnesota Statutes, Section 469.012, Subdivision 1, may be
undertaken by the Brooklyn Center Economic Development Authority
without prior approval by the Brooklyn Center City Council.
2. The EDA hereby approves the 53rd Avenue Development and Linkage Project
budget in the amount of $3.2 million.
1
EDA RESOLUTION NO. 96 -25
October 28, 1996
Date
President
The motion for the adoption of the foregoing resolution was duly seconded by commissioner
and upon vote being taken thereon, the following voted in
Kristen Mann
favor thereof:
Myrna Kragness, Kathleen Carmody, Debra Hilstrom, Kristen Mann, and Charles Nichols;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.