Laserfiche WebLink
<br />--- <br /> <br />. <br /> <br />RESOLUTION NO. 94-EDA10 <br /> <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION OF A <br />REVISED DEVELOPMENT ASSISTANCE AGREEMENT WITH THE EVEREST <br />GROUP, LTD., REGARDING MULTI-TECH EXPANSION <br /> <br />(a) The Authority has <br />Statues, Sections 469.124 <br />(collectively, the "Act"). <br /> <br />(b) Pursuant to and in furtherance of the objectives of the <br />Act, the Authority has undertaken a program to promote development <br />and redevelopment of certain land within the City of Mounds View <br />and in this connection is engaged in carrying out the Mounds View <br />Economic Development Project (the "Project") within the City. <br /> <br />the powers provided <br />to 469.134 and 469.090 <br /> <br />in Minnesota <br />to 469.108 <br /> <br /> <br />It is hereby resolved by the Board of Commissioners (the <br />"Board") of the Mounds View Economic Development Authority (the <br />"Authority") as follows: <br /> <br />1. Recitals. <br /> <br />. <br /> <br />(c) There has been approved pursuant to the Act a Project <br />Plan for the Project. <br /> <br />(d) The redevelopment and development of property within the <br />Project by private developers are stated objectives of the Project <br />Plan. <br /> <br />(e) In order to achieve the objectives of the Project Plan, <br />the Authority has determined to provide substantial aid and <br />assistance through the financing of certain of the public costs of <br />development. <br /> <br />(f) The Everest Group, Ltd. (the "Developer"), has presented <br />the Authority with a proposal for the completion of certain <br />improvements within the Project, consisting generally of the <br />construction of an approximately 60,000 square foot expansion of <br />the Multi-Tech facilities in the City and certain Development <br />Assistance Agreement between the Authority and the Developer (the <br />"Development Agreement" - dated June 15, 1994 draft) stating the <br />terms and conditions thereof and the Authority's responsibilities <br />respecting the assistance thereof has been presented to the Board <br />for its consideration. <br /> <br />. <br /> <br />(g) The Development Agreement is revised from the similar <br />agreement which was approved by the Board on May 23, 1994, in that <br />the Development Agreement now provides for the sale to Multi-Tech <br />of approximately 507,316 square feet of real property (as opposed <br />to the 279,409 square feet under the prior version of this <br />agreement) . <br /> <br />2. The Board hereby determines that the Authority's <br />execution and performance of the Development Agreement would be in <br />