05-23-1994 EDA WS - Laserfiche WebLink

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RESOLUTION NO. 94EDA6 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION OF A CERTAIN AGREEMENT WITH THE EVEREST GROUP, LTD. It is hereby resolved by the Board of Commissioners (the "Board") of the Mounds View Economic Development Authority (the "Authority") as follows: 1. Recitals. (a) The Authority has the powers provided in Minnesota Statutes, Sections 469.124 to 469.134 and 469.090 to 469.108 (collectively, the "ACT"). (b) Pursuant to and in furtherance of the objectives of the Act, the Authority has undertaken a program to promote development and redevelopment of certain land within the City of Mounds View and in this connection is engaged in carrying out the Mounds View Economic Development Project (the "Project") within the City. (c) There has been approved pursuant to the Act a Project Plan for the Project. (d) The redevelopment and development of property within the Project by private developers are stated objectives of the Project Plan. (e) In order to achieve the objectives of the Project Plan, the Authority has determined to provide substantial aid and assistance through the financing of certain of the pubiic costs of development. (fl It has been proposed that the Authority enter into a certain Agreement (the "Agreement" - attached herein as Attachment A) with The Everest Group Ltd. (the "Developer"), which would provide general, non-binding guidelines concerning the build-out of the remaining sites within the Mounds View Business Park and the provision, if applicable, of tax increment assistance with respect thereto. 2. The Board hereby determines that the Authority's execution and performance of the Agreement would be in furtherance of the Project plan and hereby approves the Agreement substantially in the form presented to the Board and hereby