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HomeMy WebLinkAbout1990 12-03 EDAP Regular Session EDA AGENDA CITY OF BROOKLYN CENTER DECEMBER 3, 1990 (following adjournment of City Council meeting) 1. Call to Order 2. Roll Call 3. Approval of Minutes: a. October 15, 1990 - Special Session 4. Resolutions: a. Accepting Final Relocation Claim for 6730 Perry Avenue North and Authorizing Payment b. Accepting a Proposal for a Commercial /Industrial Study 5. Adjournment � ` r MINUTES OF THE PROCEEDINGS OF THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF BROOKLYN CENTER IN THE COUNTY OF HENNEPIN AND THE STATE OF MINNESOTA SPECIAL SESSION OCTOBER 15, 1990 CITY HALL CALL TO ORDER The Brooklyn Center Economic Development Authority met at 8:07 p.m. and was called to order by President Dean Nyquist. ROLL CALL President Dean Nyquist, Commissioners Todd Paulson, Jerry Pedlar, and Philip Cohen. Also present were EDA Director Gerald Splinter, Director of Public Works Sy Knapp, Finance Director Paul Holmlund, Director of Planning and Inspection Ron Warren, City Attorney Charlie LeFevere, EDA Coordinator Brad Hoffman, EDA Assistant Coordinator Tom Bublitz, and Administrative Aide Patti Page. APPROVAL OF MINUTES - SEPTEMBER 10 1990 SPECIAL SESSION There was a motion by Commissioner Cohen and seconded by Commissioner Paulson to approve the minutes of the September 10, 1990, Economic Development Authority meeting. The motion passed unanimously. RESOLUTIONS The EDA Director presented a Resolution Approving One (1) Brooklyn Center Economic Development Authority Grant (File No. H83). RESOLUTION NO. 90 -09 Commissioner Jerry Pedlar introduced the following resolution and moved its adoption: RESOLUTION APPROVING ONE (1) BROOKLYN CENTER ECONOMIC DEVELOPMENT AUTHORITY GRANT (FILE NO. H83) The motion for the adoption of the foregoing resolution was duly seconded by Commissioner Todd Paulson, and the motion passed unanimously. The EDA Director presented a Resolution Closing the Earle Brown Restoration Project No. 89 -02. The EDA Coordinator noted there were two corrections which should be made to the memo and explained these to the Commissioners. Commissioner Paulson inquired what types of items would be covered under the punch list. The EDA Coordinator stated it would be small detail items like replacement of dead shrubs or trees. President Nyquist inquired if this includes the basement in the Heritage Center. The EDA Coordinator stated completion of these rooms was never contemplated under the original project. RESOLUTION NO 90 -10 Commissioner Philip Cohen introduced the following resolution and moved its adoption: i 10/15/90 -1- RESOLUTION CLOSING THE EARLE BROWN RESTORATION PROJECT NO. 89 -02 The motion for the adoption of the foregoing resolution was duly seconded by Commissioner Todd Paulson, and the motion passed unanimously. The EDA Director stated there seems to be a need for additional breakout space in the basement of the Heritage Center. The EDA Coordinator noted that people have actually rented draperies to finish the room so that they could use it for different conventions. He noted the completion of these rooms had never been contemplated in the restoration project. He noted this evening he is looking for some direction from the EDA. Commissioner Paulson inquired if this would mean additional revenue for the Heritage Center. The EDA Coordinator stated it is insignificant because it becomes part of the package that you are selling. He stated it is difficult to set a value on this area; however, it is one of the shortfalls of the convention center. Commissioner Pedlar inquired if we have lost money because of the shortage of space. The EDA Coordinator stated at this point we have not lost money, but it will cost us business at some time. Commissioner Pedlar inquired if there would be any cost involved in obtaining estimates for professional fees. The EDA Coordinator responded negatively. Commissioner Paulson stated although he feels a need for breakout room, he is uncertain of committing the future City Council to the use of the basement. There was a motion by Commissioner Cohen and seconded by Commissioner Pedlar authorizing staff to develop cost estimates for completion of the breakout room /Council Chambers in the Heritage Center basement. The motion passed unanimously. The EDA Coordinator stated there are approximately $150,000 in tenant improvements to be done to the D barn. He added that EBF Management has a potential tenant for the G barn, but the lease would not retire the cost for replication of that building. He stated he recommends that promotion of the G barn be halted until the tax increment district can support the rebuilding. There was a motion by Commissioner Pedlar and seconded by Commissioner Cohen authorizing staff to not proceed with replication of the G barn and further authorizing tenant improvements in the D barn when it is economically feasible. The motion passed unanimously. The EDA Director presented a Resolution Authorizing Execution of Purchase Agreement for the Acquisition of 6730 Perry Avenue North, Brooklyn Center, Accepting Relocation Claim Form and Authorizing Payment for Acquisition Costs and Relocation Costs. RESOLUTION NO 90 -11 Commissioner Philip Cohen introduced the following resolution and moved its adoption: RESOLUTION AUTHORIZING EXECUTION OF PURCHASE AGREEMENT FOR THE ACQUISITION OF 6730 PERRY AVENUE NORTH, BROOKLYN CENTER, ACCEPTING RELOCATION CLAIM FORM AND AUTHORIZING PAYMENT FOR ACQUISITION COSTS AND RELOCATION COSTS 10/15/90 -2_ r The motion for the adoption of the foregoing resolution was duly seconded by Commissioner Jerry Pedlar, and the motion passed unanimously. ADJOURNMENT There was a motion by Commissioner Pedlar and seconded by Commissioner Cohen to adjourn the meeting. The motion passed unanimously. The Brooklyn Center Economic Development Authority adjourned at 8 :36 p.m. President 10/15/90 -3- CITY OF BROOKLYN CENTER Council Meeting Date 12-3-90 Agenda Item Number REQUEST FOR COUNCIL CONSIDERATION ITEM DESCRIPTION: Resolution Accepting the Final Relocation Claim Form for 6730 Perry Avenue North and Authorizing Payment for the Final Relocation Costs DEPT. APPROVAL: _- Assistant EDA Coordinator Signature - title MANAGER'S REVIEW /RECOMMENDATION: �•`'�'��' k °r 5 No comments to supplement this report Comments below /attached SUMMARY EXPLANATION: (supplemental sheets attached yes ) • The total cost for acquisition and relocation benefits for 6730 Perry Avenue North is $64,269.18. This represents $43,000 for acquisition, and $21,269.18 paid in relocation benefits as required under the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 as amended. L, Commissioner introduced the following resolution and moved its adoption: I EDA RESOLUTION NO. RESOLUTION ACCEPTING THE FINAL RELOCATION CLAIM FORM FOR 6730 PERRY AVENUE NORTH AND AUTHORIZING PAYMENT FOR THE FINAL RELOCATION COSTS WHEREAS, on October 15, 1990, the Brooklyn Center Economic Development Authority approved Resolution 90 -11 authorizing execution of the purchase agreement for the acquisition of 6730 Perry Avenue North Brooklyn Center, accepting q Y � Y � P g relocation claim form and authorizing payment for acquisition costs and relocation costs; and WHEREAS, Resolution 90 -11 authorized payment of $19,881.10 in relocation benefits to the owner of 6730 Perry Avenue North in Brooklyn Center; and WHEREAS, Resolution 90 -11 acknowledged an amount to be paid in addition to the $19,881.10 for eligible replacement home settlement /closing costs as required by the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 as amended; and WHEREAS, Conworth, Inc. has prepared a final relocation claim form in the amount of $1,388.08 for eligible replacement home settlement /closing costs. NOW, THEREFORE, BE IT RESOLVED by the Brooklyn Center Economic Development Authority that: 1. The final relocation claim form for $1,388.08 for eligible replacement home settlement /closing costs is hereby approved. 2. The Brooklyn Center Economic Development Authority authorizes payment of $1,388.08 to Mary F. Lee, 2926 68th Lane North, Brooklyn Center, Minnesota. 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 favor thereof: and the,following voted against the same: whereupon said resolution was declared duly passed and adopted. FINAL RESIDENTIAL RELOCATION CLAIM REPLACEMENT HOUSING PAYMENT ` NOVEMBER, 1990 I MARY F. LEE 6730 PERRY AVENUE NORTH BROOKLYN CENTER, MN L L ECONOMIC DEVELOPMENT AUTHORITY OF BROOKLYN CENTER CDBG- FUNDED ACQUISITION CONWORTH, INC. CONWORTH, INC. 4725 Excelsior Blvd. Suite 200 Minneapolis, MN 55416 (612) 929 -0044 November 20, 1990 Mr. Tom Bublitz EDA Assistant Coordinator City of Brooklyn Center 6301 Shingle Creek Parkway Brooklyn Center, MN 55429 Subject: Final Replacement Housing Payment Claim Mary F. Lee, 6730 Perry Avenue North, Brooklyn Center CDBG- Funded Acquisition Dear Mr. Bublitz: Enclosed please find two executed copies of the final Relocation Claim booklet covering the supplemental closing and interest differential replacement housing payments for Mary Lee, former homeowner /occupant of the above - referenced property. We have reviewed the claim documentation submitted by Ms. Lee and have assembled the enclosed booklets for your review and approval. We believe all is in accordance with applicable Uniform Act as amended and CDBG relocation regulations. Upon the EDA's approval of this final claim, please make payment to Mary F. Lee in the amount of One Thousand Three Hundred Eight- Eight Dollars and Eight Cents ($1,388.08). The check should be mailed directly to Ms. Lee at her new address: 2926 68th Lane North, Brooklyn Center, MN. If you should have any questions regarding the enclosed, please don't hesitate to call. Processing and payment of this claim by the EDA of Brooklyn Center should complete Mary Lee's relocation transaction. Sincerely, Sandra G. Lueg Relocation Con ultant sl Enclosures f Redevelopment Acquisition /Relocation EXHIBITS 1 SUMMARY 2) CLAIM FOR REPLACEMENT HOUSING PAYMENT 3) NARRATIVE ON REPLACEMENT HOUSING PAYMENT FOR HOMEOWNERS, INDIVIDUALIZED COMMENTS, AND RELATED DOCUMENTATION 4 CERTIFICATION OF CLAIM 5) QUALIFICATIONS OF RELOCATION CONSULTANT t i CONWORTH, INC. SUMMARY Claimant Name: Mary F. Lee Project Site Address: 6730 Perry Avenue North, Brooklyn Center, MN Replacement Home Address: 2926 68th Lane North, Brooklyn. Center Type of Claim: Supplemental Replacement Housing Payment for Homeowners of Over 180 -Days Full Relocation Benefits Summary: Fixed Move Expense $ 1,050.00 Differential Sum Replacement Housing Payment $17,500.00 Mortgage Interest Differential Sum Replacement Housing Payment $ 1,436.74 Incidental (Closing) Costs Sum Replacement Housing Payment $ 1,282.44 Total Amount Relocation Benefits: $21,269.18 Less Amounts Paid Previously: $19,881.10 Total Due This Final Claim: $ 1,388.08 Mail Payment To: Mary F. Lee 2926 68th Lane North Brooklyn Center, MN 55430 CONWORTH, INC. - `aaim for Replacement Housing Payment U.S. Dr n DD e e of Housing and Urbaan evelopment I Dr 180 -Day Homeowner 6 1 r OMB Approval Ile. 2506 -0016 (oxp. 11/30190) Agency Use Only _ Number a of Agency Economic Development i Project Name or Number 1 Caso Authori ty of Brooklyn ( n 1 QDBG Funding - — 1 'ablie reporting burden for this collection of Information is estimated to nverngo 1 0 hour per responso, Indudmg ilia limn for reviewing Instructions, searching existing data so-lices. ttharing and mnininining the data nnoded, and comp!nring and revinwing ilia collection of information. Send cnnonrnts rrgcuding this hurdnn ostimnta nr any other nspeet of this ilicUion of information, inrluding su09nstions for reducing this burdnn, to ihn flrports AlanagQrrtrnt Oiltr;cr, OII!ur of Inlorrnalion Policies and Sysicnls, U.S. Uapnrfnlent of ifousing and Urban Uevelopment, Washington, U.C. 20410 3600 and to Iho Office of Management and Oudgel, Paperwork fleduction Project (25 0016 Washington, U.C. 20503. Privacy Act tiollco: This inlormatinn is needed to determine whether you are eligible to receive a replar-rrnent housing poymnnt for a 100 day homeowner. You arc not required by w to lumish this Information, but if you do not provide it, you may nol receive tilts payment or it may take longer to pay you. Ihis Inlorntatinn is heing collected under the authority of e Uniform f1clocation Assistance and Iteal Property Acquisition Policies Act of 1970. the frdormalion may be made avnitnblo to a I odoral agency for review. Insitucllons. This form is for the use of families and individuals applying for a replacement housing payment for a 13n-day homeowner. The Agency will help you complete this form. If the full amount of your claim is not approved, the Agency will provide you with a wrist !planation of the reason. If you are ht satisfied with the Agency's determination, you may appeal that determination. The Agency will explain how to make an appeal. Your Namo(s) (You are Ilia Clainiant(s)) 1� 7 3U m M :riling Addross(us) of C aimant(s) lb. lolophono Numbor(s) tJ erry Avenue North Ma ry F. L e e - - -- - -- _- Brooklyn Ce nter, MN - -__ -_ _(6_ 566 -4523 Have all members of the household moved to the same dwelling? Yes ® No (It - no - , attach a list of the names of all members and the address to which they moved.) When did you when dirt you When did you Dwelling Address buy movo to move out of this unit? this Unit? this unit? v. Unit That You 6730 Perry Avenue North Moved From Br ooklyn Ce nter_, M 554 - 7-14-72 7 -14 - 7 2 11 -5 -90 Unit That You 2926 68th Lane North Moved To Brooklyn Center MN 55430 11 -1 -90 11 -2 -90 S. Computation o f Repl ac e ment Hous Paym Item To be Completed For Agency by Claimant Use Only Purchase Price of Comparable Replacement Dwelling (To be provided by the Agency) $ 60, 500.00 $ Purchase Price of the Unit You Moved To 64 900.00 1 1) Lesser of line (1)or (2) 60,500-00 t ,l) Price Paid by Agency for Unit that You Moved From 43 ,000.00 r) Difierenlial Amount (Subtract line (4) from lino (3). It amount on line (4) exceeds amount on lino (3), enter o) 17,500-00 - (6) Incidental Expenses (From line (16) of item 12) - -- - - -- - - -- 1, -- — r) Morigago 13uydown Payment and Other Debt Service Costs (To be determined by Agency. See instructions in item 13) _ 1,436.74 (8) Total Amount of Replacement Housing Payment Claim (Add fines (5), (6), and (7)) $ 20,219.18 $ )) Amount Previously Received, if any 18 831.10 10) Amount Requested (Subtract line (9) from tine (0)) $ $ Certlficntion by Clalmnni(s) Warning: I( you knowingly make a (also statement on this form, you may be subject to civil or criminal penalties under Section 100( of Title 18 of the United Slates Cade. In addition, you may not receive any of Ole amounts claimed on this form. certify that t11is claim and supporting Information arc true and complete and that I have not been paid for these expenses from any other sour Date L ignalufc(s) of Ctaimnnt(s) - -- - - - - - --- 11 -20 -90 o Be_ C_om Icled b A enc - -- - - -- - — - - -- - -- -- -- - -- - �p lete d - Y- 9 - -- -Y -- rteUive Dale of E69biiily a. Dale of naloral to 9. Data nr9laoomnnl Owmiling InspeUod Rebca!on Assistance noplicornont Dvolhng and Found Docent. Sale and Sanitary 8 -16 -90 I. - - -- - -- - -- - _ 9 -4 _9 —� 14 = Payment Action Amount of Payment Sig tutu Name (Typo or Print) Da -- -- — — - 0. Recommended: $ 1 _388.08 �_ ` Sandra G. Luegge rnnwort -h TTY, 11. Approved: $ Page 1 of t form HUU -40057 (1 ^O) rut 11.1-il 1 "' i Replacement Housing Payment for Homeowners Under the 1989 regulations of the Uniform Relocation and Real Properties Act of 1970, as amended, displaced homeowners who have occupied their project dwelling 180 days prior to the agency's initiation of negotiations to purchase same are eligible for a Replacement Housing Payment for Homeowners. The remaining eligibility requirement is that the claimants must purchase and reside in a decent safe and sanitary replacement house within P one year from the date of vacation from the project, or receipt of the final payment for the project site, whichever is later. The statutory maximum for this benefit is $22,500.00, and there are three components to be considered in determining an entitlement. The first component is the difference between the acquisition price paid by the agency for the project site property, and either the actual cost of the replacement home or a comparable home, whichever is less. A study of similar housing available in the area was undertaken to establish the comparable figure in the calculation. Available properties were selected for this purpose, and one of these was designated as being most comparable. The Notice of Relocation Eligibility found at a later Exhibit of this booklet lists the specific properties considered. Increased mortgage interest costs are next considered for payment. This component is intended to help the displacees who will encounter the loss of favorable financing because of the project activities. It is only utilized when the interest rate on the replacement dwelling exceeds the interest rate on the displacement dwelling. The payment is based on the lesser of either the remaining term and mortgage balance of the project site or of the new property. Debt service costs are also included but are limited to the unpaid mortgage balance on the displacement dwelling or the new mortgage amount, whichever is less. The last component of the Replacement Housing Payment is reimbursement of incidental expenses associated with the purchase of the replacement dwelling. Reasonable and necessary costs such as legal fees, credit report, or title insurance, incurred at closing on the replacement home can be paid under this benefit. In conclusion the differential amount the increased interest amount, and the incidental costs can be paid up to the $22,500.00 maximum replacement housing allowance. E CON`VORTH, INC. REPLACEMENT HOUSING PAYMENT FOR HOMEOWNERS Claimant Name: Mary F. Lee Project Site Address: 6730 Perry Avenue N., Brooklyn Center, MN Replacement Site Address: 2926 68th Lane North, Brooklyn Center, MN Computation 1) Adjusted Price of Comparable $ 60,500.00 2) Actual Price of Replacement $ 64,900.00 3} Lesser of #1 or #2 Above $ 60,500.00 4) Acquisition Price for Project House $ 43,000.00 5) Differential Amount ( #3 minus #4) $ 17,500.00 6) Closing Costs $ 1,282.44 7) Increased Mortgage Interest Costs and Eligible Buyer Points $ 1,436.74 - 8) Total of #5, #6, #7 $ 20,219.18 9) Less Amounts Paid on Previous Claim $ 18,831.10 10) Balance Due This Final Claim $ 1,388.08 Mary Lee had two mortgages on her project site: the 1st mortgage through Citicorp, with an interest rate of 7.50, with a principal balance at the time of the City's acquisition of $7,745.99; and the 2nd mortgage through Marquette Banks, with an interest rate of 130, in the payoff amount of $5,167.07. See the following pages for a detailed listing of closing costs and eligible points for this homeowner's replacement home purchase. In summary, Conworth, Inc. recommends that the Economic Development Authority of Brooklyn Center make final payment in the amount of $1,388.08 to Mary F.Lee to complete her eligible Replacement Housing (Purchase Supplement) benefits under the Uniform Relocation Act, as amended. CONWORTH, INC. Mary F. Lee - Summary of Closing Expenses i � Ms. Lee's Total Settlement Charges I (From TRW's Settlement Statement) $ 2,366.68 Plus Owner's Title Insurance Charges (Paid by Ms. Lee at the Closing) 195.00 Total Buyer Closing Costs $ 2,561.68 Less Seller's Credit Toward Buyer's Closing Costs $ (500.00) Net Actual costs to Buyer (Mary Lee's Actual Closing Costs) $ 2,061.68 Reimbursable Costs Under the Uniform Relocation Regulations: Loan Origination Fee and Buyer Loan Discount Points (Computed under Mortgage Buy -down and Debt Service Payment) $ 604.01 Appraisal Fee $ 295.00 Credit Report $ 45.00 Tax Service $ 75.00 Underwriting Fee $ 150.00 Settlement Fee $ 225.00 Title Insurance (pro -rated to the $60,500 comparable purchase amount) $ 346.75 Name Search Fee $ 25.00 House Location Certificate (Survey) $ 50.00 Recording Fees $ 31.00 State Tax - Mortgage Registration (based on $2.30 per $1,000 of total project mortgage amount *) $ 29.69 Conservation Fee $ 10.00 Total Closing Costs and Buyer Points Eligible for Reimbursement $ 1,886.45 CONWORTH, INC. * Project mortgage pay -off amounts were confirmed verbally by the City Attorney; Citicorp (1st mortgage) _ $7,7.45.99 and Marquette Banks (2nd mortgage) _ $5,167.07, for a total of $12,913.06. c CONWORTH INC. SETTLEMEN I S I A I EMEN l L j !NA 2, u lMNA ]Xl l CONV UNINS <. J TRW REAL ESTATE LOAN SERVICES llitNUMN 1 IOANNUMnCI: "" 10026010 1843390 M. M 111GAOt INS. CASE: NO, NOTE: This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown. Items marked " 1p.o.c.) • were paid outside the closing; they are shown here for informational 1 purposes and are n inclu in the totals. y 1. NAME AND ADDRESS MARY F. LEE (! OF BORROWER 6730 Perry Avenue North Brooklyn Center, MN 55429 + NAME AND ADDRESS JAMES A. PETERSEN and MARGARET C. PETERSEN OF SELLER . NAME AND ADDRESS Sunbelt National Mortgage Corporation OFIENDER 2845 North Hamline Ave., #231 Roseville, MN 55113 PROPERTY 2926 68th Lane North LOCATION: Brooklyn Center, MN 55429 SETTLEMENT AGENT: TRW Real Estate Loan Services PLACE OF SETTLEMENT: 1120 E 80th Street, Suite 109 Bloomington, MN 55420 SETTLEMENT DATE: 11/ 1/90 Disburse Date: 11/ 1/90 SUMMARY OF BORROWER'S TRANSACTION K. SUMMARY OF SELLER'S TRANSACTION 1 00. GROSS AMOUNT DUE FROM BORROWER: - _ _ - 400. GROSS AMOUNT DUE TO SELLER: 11. Contract sales price 64 , 900.00 401. Contract sales price 64, 900.00 I )2. Personal property 402. Personal property 1 33. Settlement charges to bottom: 2,366.68 401 (Tram Tone 14D0) - X Pro -rate 1990 taxes 99.44404 Pro -rate 1990 taxes 99.44 35. 405. 1 ADJUSTMENTS FOR ITEMS PAID BY SELLER IN ADVANCE: ADJUSTMENTS FOR ITEMS PAID BY SELLER IN ADVANCE: 106. City /town taxes to 406. City /town taxes to 107. County taxes to 401. County taxes to 1 106. Assessmalts. • to 409. Assessments to 109. 409, I 110. 410. 1 111, 411 112. 412. x ?0. GROSS AMOUNT DUE FROM BORROWER: ) 420. GROSS AMOUNT DUE TO SELLER: / 64 999.44 i lo. AMOUNTS PAID BY OR IN BEHALF OF BORROWER: 500, REDUCTIONS IN AMOUNT DUE TO SELLER: 11. Deposit or earnest money 150.00 501. Excess deposit (see instructions) 12. Priruipal arnamt of new loan(s) 20, 000.00 502. Settlement charges to seller (line 1400) 704.50 j 13. Existing loan(s) taken subject to 503. Exisinq loan(s) taken subject to u' Sellers credit to buyers COs S 500.00504. Payoff of first mortgage loan )5. 505 Payoff of second mortgage loan A. 505. Non - homestead part of 91 t x 1,190.00 lT ' sO Sellers credit to buyers Colts 500.00 sos_ commission /Edina Pealty 2,044.35 M. i ADJUSTMENTS FOR ITEMS UNPAID BY SELLER: ADJUSTMENTS FOR ITEMS UNPAID BY SELLER: i 210. Ciry,rtown taxes l0 510. Cityitown taxes to 211. Canty taxes to 511. County taxes to 212. Assessments to 512. Assessments to 213. 513. i 214. 514. i 215. 515. 216. 516, 21). 511. 218. 518 i 219. 519. 20. TOTAL PAID BY /FOR 520. TOTAL REDUCTIONS ,i BORROWER: IN - ' AMOUNT DUE SELLER: 4,433.85 • - - -- - -- ------ - - - - -- 20 650.0 -- - - - -- - -- , i 7D CASH AT SETTLEMENT FROMQO_BORROWER:- 600. - CASH AT SETTLEMENT TO /FROM SELLER: - 1 1 1 Dos al due from borrower line 120 67, 366.1 501 Gmsa ammult due to seller (hire 420) -- - - 64 r 9g9 .44 t ; 12. less ennrmts pad fry /la borrower (fine 2101 0, 650. 6 02. le ss total reductions in amount due selle�lu,e 5520 1 ( 13. CASH (❑ k?041) (❑ TO) BORROWER: I 46 716.1 603. CASH (UV. 01(❑ FROM) SELLER: 60 560.59 PAGE 1 r r LOAN 1843390 SETTLEMENT CHARGES 700. TOTAL SALES /BROKER'S COMMISSION: PAID FROM PAID FROM • :� BASED ON PRICE $ 64, 900.00 ® q6- 150.00 BORROWER'S SELLERS DIVISION OF COMMISSION (LINE 700) AS FOLLOWS: FUNDS FUNDS AT AT 701.S 150.00 to Pierce Realty SETTLEMENT SETTLEMENT 702. S to 703. Commission paid at santement 150.00 0.1 800. IILMS PAYA Rii IN CUNNECTIUN W+IIf LOAN: 801. Loan Ong inationfee 1.00 % Sunbelt National Mortgage 200.0 802. Loan Discou 4.00 % Sunbelt National Mortgage 800.00 803 Appraisal Fee to: Sunbelt National Mortgage 295.00 804.CredrtReporlto: Sunbelt National Mortgage 45.0 805. Lender's Inspection fee 806 Mortgage Insurance application fee to 807. Assumption fee 808. Tax service to Sunbelt National Mortgage Corporation 75.00 i 809. Underwriting to Sunbelt National Mortgage Corporation 150.0 810. }• i 811. ' 900. ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE: 901. Irrtereri from to S /dal' 902. Mortgage insurance premium for ono. to 903. Hazard insurance premium for yrs. to 904. flood ks ra m P.. la yrs. to 1 905. i 1 000. RESERVES DEPOSITED WITH LENDER: { 1001. "Wart! i surance 2 months (M S 8.25er moron 16.50 Sa s 1002. Mortgage insurance months Iv S per month ♦ 1003. City property tares months ® S per month i 1004. County property taxes 2 months ® S 49.59er month 99.18 1005. Annual assessmerrts months ® S per month 1 1006. flood inswance ircnths 1 9 S per month t t 1007. y •i• manths a S per month 100 _ _ _ monfhs ® S per month __]! + 1100. TITLE CH ARGES: 110t. Settlement a closing fee to TRW Real Estate Loan Services 225.00 150.00 1102. Abstract orthlesmchto TRW Real Estate Loan Services 160.00 ` 1101 Title examination to f i 1104. Title insurance bi du to 1105. Document preparation to 11D6. Notary fees to 1107. Attorney's fees to (includes above items Aiumhers: 1108. Title instxance ta TRW Real Estate Loan Services /incbxks above hams Almrben' 1109. Lender's coverage $ 20,000.00 @ 175.00 ? 1110. Ovvmei's coverage $ U Tt• 1111. Name Searches to TRW Real Estate Loan Services 25.0 1111 Assmt Search to TRW Real Estate Loan Services 30.00 - _- House - Loc- Cer-t -to- TRW - Real- Estate- Loan_ Services -_ _ - ..- _ _ _ _._- 50.0 _ 1200. GOVERN REC ORDING AND_ TRANSFER CHARG _ I 1201. Recording fees: Deeds 2 J-50 ; Mortgage $ 10.50 ; Releases $ 31.00� 1202. City /county tax /stamps: Deed 5 ; Mortgage S ( �I f 1203. State tax /stamps: Deed S 214.50: Mortga S 46.00 46.0 214.50 1204 Consv fees to Hennepin County Recorder 10.0 f 120 1300. ADDI SETTLEMENT CHARGE 1301. Survey to -- - - 1302. Pest inspection to ' 1303. Ins. & Dues Certification to Earl Brown Estate Townhouse 124.0 " 1304. 1305. 1306. 1307. 1400. TOTALSETTLEMENT CHARGES (Enteronlme103, Section J- and -Me 502, Section K/. 4 2,366.6 704.50 i '! he Undersigned Acknowle es cei This Settlement Statement • . rya « Senor « , MAR F. LEE see «« AMES A. PE ERSEN I t gent A enC F MARGARET C. PETERSEN s JD PAGE 2 i I L 1 L 9 I rRW Fc�l Estate •, t • I Mn Services t : i,r t WAIVER OF OWNER'S TITLE INSURANCE POLICY S_5�4�� Amount of Coverage $_ 195.00 Simultaneous Issue Charge x _10 026010 _ _ fRW Commitment No. I (We) hereby acknowledge the offer of an owner's Ti tle Insurance Policy .Y at a simultaneous issue charge based upon the owner's policy being issued in conjuntion with the mortgage conmi L ment, (AmonnI of coverage, simultaneous issue charge and Conmritment Nu, indicaLvd above). I (We) hereby decline this offer, except that I (We) understand that the cif fvl will continue in effect for thirty (30) clays from today, subject Ln any changes in insurability subsequent to daLm of commilmpnL Lo lender, I (We) acknowledge further that I (We) have been advinud that the ciLvd mortgage policy does not in any gray pro tees t or insure the owner's Merest in title, and that the simulaneous issue rate will not be available for this transaction after thirty (30) clays lrom today. _ 11/ Date - -- - -- - - - - -- ORDER FOR OWNER'S TITLE INSURANCE POLICY S — 64,900.00. -- , Amount of Coveray(c S - 195. ' Sinrul taneous Issue Ch,1ryQ I (We) wish to purchase an Owner's Title Insurance Policy in the amount of and-simultaneous issue charge indicated above. I (We) acknowledge r•er r�' t I of a copy of the LENDERS conuitment and and m > �r ., L� nd th�r I. Lhc. L� c. >,cc � ons . 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I J O N A N O -- P N 0 8 g S 8 8 T T N 8 R I L� S m P v N O to O L N O O T 6 N 0 tr L N O m O L N( @ O I O g q 4 11 0 m O 4 ] ■ ] ■ ] f ] lJ� {J� UU•• ll�� UUaa ,,nn {{�� / ' � 0 0 0 0 0 0 0 V'U' O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O S O O D O 0 0 0 lr 0 0 0 0 0 0 0 0 0 0 0 0 0 ;� ' No delinquent lazes and transfer entered; Certificate of Real Estate Value ( ) filed ( ) not required Certificate of Real Estate Value No.— i ,19 County Auditor I by _ - -- ! Deputy STATE DEED TAX DUE HEREON: $ 214.50 I Date: Novemb 1 19 90 (reserved for recording data) i FOR VALUABLE CONSIDERATION, Janes A. Petersen and Margaret C. Petersen, husband and wife Grantor (S), ' (marital status) hereby convey (s) and warrant (s) to Mary F Lee I Grantee (S), real prpp Hennepin County, Minnesota, described as follows: An undivided 4/10 interest in and to: Lot 1, Block 7, Earle Brown Farm Estates First Addition, according to the plat thereof on file or of record in the office of the Registrar of Titles in and for said County. Together with easements, covenants, conditions, restrictions, charges and liens as contained in Document No. 1433226 as supplemented and amended by Document Nos. 1468043, 1508144 and 1529049. Parcel B: An undivided 6/10 interest in and to: Lot 1, Block 7, Earle Brown Farm Estates First Addition, according to the plat thereof on file or of record in the ` office of the Registrar of Titles in and for said County. Together with easements, covenants, conditions, restrictions, charges and liens as contained (it more space is needed, continue on back) together with all hereditaments and appurtenances belonging thereto, subject to the following exceptions: THE SEL= CERTIFY THAT THE SELLERS DO NOT KNOW OF ANY WELLS ON THE DESCRIBED REAL PRCPEFtPY. JFes A. eter en : \ffis Dt ed 'i Its Stamp I1, 1 I , i ! / C. Petersen ' I STATE OF MINNESOTA l/ ! 1 COUNTY OF Hennepin SS. The foregoinKK instrument was A cknowledged before me this 1st day of November 19 90 by James A. Petersen an Margaret C. Petersen, uiF sfiana and wi e, - - -- — - - - - - Grantor (s). LL ( NOTARIAL STAMP OR SEAL (OR OTHER TITLE OR RANK) .,_� +• SIGNATURE OY PERSON TAKING ACKNOWLEDGMENT • ` . -, I' • i I •• !� Tax Statements for the add aert9 described In lhb Instrument should ,.1 be sent to (Include name sm an� add of Ureutee ): Mary F. Lee 2926 68th Lane North Brooklyn Center, MN 55429 ( _ THIS INSTRUMENT WAS DRAFTED BY (NAME AND ADDRESS) ( Sunbelt National Mortgage Corporation t TRW Real Estate Irian Services 2974 LBJ Freeway, Suite 231 1120 Gast Both Street #109 Dallas, TX 75234 Bloomington, MN 55420 I r 1 CERTIFICATION OF CLAIM I, the undersigned, do hereby certify the following: 1. That I have ersonall p y inspected the residential claim herein and the property it uses and occupies; 2. That to the best of my knowledge and belief the statements contained in this report and upon which the opinions herein are based, are true and correct; 3. That this claim has been made in conformity with and is subject to the requirements of the United States Department of Housing and Urban Development. 4. That neither myself, the company, nor the employees have a present interest or a contemplated interest in the residence involved or relationship with the occupants therein; and 5. That neither the employment ent to make the claim nor the P compensation for it are contingent upon the amount of eligible relocation compensation estimated herein. dr G. Luegge 1 Relocation Consultant Conworth, Inc. Date L �ON�WO�RTH�,IN�C. QUALIFICATIONS Sandra G. Luegge PROJECT ASSIGNMENTS: Acquisition /Residential and Business Relocation Counseling, Technical and Documentation Services EDUCATION: B.S. Degree /1980 /Business Administration - Real Estate. Cum Laude Honors. Mankato State University. Continuing Education Courses sponsored by the American Institute of Real Estate Appraisers, International Right of Way Association, DHUD, and NAHRO. PROFESSIONAL AFFILIATIONS: American Institute of Real Estate Appraisers. International Right of Way Association, Minnesota Chapter 20. Chairman, Relocation Committee. RELATED EXPERIENCE: Relocation /Acquisition Consultant, Conworth, Inc., Minneapolis, Minnesota -- Present. Relocation /Acquisition Consultant and Projects Director, Midwest Office of Von Klug & Associates, Inc., Minneapolis, Minnesota -- 1985 -1989. Real Estate Appraiser and Branch Office Manager, Robinson Appraisal Company, Inc., Mankato and LeSueur,. Minnesota -- 1980 -1985. Redevelopment Specialist for the City of Mankato, :Minnesota -- 1977 -1980. COMMENTS: For the City of Mankato, Ms. Luegge administered a variety of acquisition and relocation projects funded through CDBG, local tax increment, and federal sources. She also negotiated permanent and temporary easements for the Corps of Engineers flood control projects in the community, and performed monitoring for EEO /labor standards requirements in the City's redevelopment construction projects. For Robinson Appraisal Company, Ms. Luegge prepared a variety of commercial, industrial and farmland and review appraisals. Her concentration, however, was in residential appraising for public agencies and private lenders. For Von Klug & Associates, Ms. Luegge worked on various redevelopment and right -of -way projects throughout Minnesota, counseling for business and residential relocation, performing appraisal reviews, and directing the Minneapolis office's project assignments from 1987 -1989. CON`VORTH, INC. CITY OF BROOKLYN CENTER Council Meeting Date Agenda Item Number REQUEST FOR COUNCIL CONSIDERATION ITEM DESCRIPTION: RESOLUTION ACCEPTING AND APPROVING A CONTRACT WITH MAXFIELD RESEARCH GROUP, INC. FOR A COMMERCIAL/INDUSTRIAL STUDY DEPT. APPROVAL: `/1 EDA Coordinator Sign t re - title MANAGER'S REVIEW /RECOMMENDATION: No comments to supplement this report Comments below /attached SUMMARY EXPLANATION: (supplemental sheets attached The EDA received four (4) proposals to the RFP for a commercial /industrial study. Submitting • proposals on November 21, 1990, were Ernst & Young, Advance Resources for Development, Inc., McComb Group, Ltd., and Maxfield Research Group, Inc. On Thursday, November 29, 1990, interviews were conducted with all four (4) consultants. The interview group was made up of Sy Knapp, Mark Parish, Ernie Erickson, and Gil Engdahl. It was the recommendation of that group that Maxfield Research Group, Inc. be awarded the contract. Maxfield Research also submitted the lowest cost of the four (4) groups. Prices ranged from $26,000 to $35,000. i This study, when coupled with the housing study, will provide the City with the basic information to establish a coordinated redevelopment policy for Brooklyn Center. The study should be used to give direction to and establish priorities and policies for the use of limited resources. I would recommend that the contract be awarded to Maxfield Research Group, Inc. We can anticipate having the study back this spring. Commissioner introduced the following resolution and moved its adoption: EDA RESOLUTION NO. RESOLUTION ACCEPTING AND APPROVING A CONTRACT WITH MAXFIELD RESEARCH GROUP, INC. FOR A COMMERCIAL/ INDUSTRIAL STUDY WHEREAS, the Economic Development Authority (EDA) in and for the City of Brooklyn Center has established a Brooklyn Center commercial/ industrial study to be funded with Community Development Block Grant Funds; and WHEREAS, the EDA has requested proposals for a commercial/ industrial study from professional market analysts; and WHEREAS, the EDA considered such proposals for a commercial /industrial study, and the proposal from Maxfield Research Group, Inc. in the amount of $26,000 plus expenses is best suited to the needs of the Economic Development Authority. NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority in and for the City of Brooklyn Center that the Executive Director be authorized to execute an agreement for these services. 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 favor thereof: and the following voted against the same: whereupon said resolution was declared duly passed and adopted.