12-18-1996 Council Agenda - Laserfiche WebLink

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BE IT RESOLVED by the Board of Commissioners of the Little Canada Economic Development Authority of the City of Little Canada, as follows: 1. Subject to approval of the Modifications by the Council and the Planning Commission, the Modifications are hereby approved and adopted, and shall be placed on file in the office of the City Administrator. 2. Upon approval of the Modifications by the City Council, the staff, the Authority's advisors and legal counsel are authorized and directed to proceed with the implementation of the Modifications and for this purpose to negotiate, draft, prepare and present to this Board for its consideration all further plans, resolutions, documents and contracts necessary for this purpose. Approval of the Modifications does not constitute approval of any project or a Development Agreement with any developer. 3. Upon approval of the Modifications by the City Council, the City Administrator is authorized to forward a copy of the Modifications to the Minnesota Department of Revenue pursuant to Minnesota Statutes 469.175, subdivision 2. 4. The Modifications conform in all respects to the requirements of the Acts and will help fulfill a need to develop an area of the State which is already built up to provide employment opportunities to improve the tax base and to improve the general economy of the State and thereby serve a public purpose and will afford maximum opportunity, consistent with the sound needs for the City as a whole, for the development or redevelopment of the project area by private enterprise in that the intent is to provide only that public assistance necessary to make the private developments financially feasible. Approved by the Board of Commissioners of the Economic Development Authority of the City of Little Canada this day of December, 1996. ATTEST: Secretary President -2- Page 7