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HomeMy WebLinkAboutResolution 97-EDA67FORMA ~~1e~ RESOLUTION N0.97-EDA67 CTTY OF MOUNDS VIEW COUNTY OF RA,~15EY STATE OF MINNESOTA RESOLUTION APPROVING AND AUTHORIZL~IG THE EXECUTION OF A llEVELOPMENT ASSISTANCE AGREEMENT WITH THE EVEREST GROUP, LTD., REGARDL~IG THE BUILDING "N" PROJECT It is hereby resolved by the Boned of Commissioners (the "Board's of the Mounds View Economic Development Authority (the "Authority's as follows: Recitals. (a) Pursuant to Minnesota Statues, Sections 369.124 to 469. l34 and 469.090 to 469.L08 (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 connection is engaged in carrying out the Mounds View Ewrtomic Development Project (the "Project) within the City. (c) There has been approved pursuant to the Act a Project Plan for the Project (d) The redevelopmern 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 Plaa, the Authority has determined to provide substantial aid and assistance through the financing of certain of the public costs of development (f) The Everest Group, Ltd. (the "Developer ~, has presented the Authority with n proposal for the completion of certain improvements within the Project, consisting generally of the wnsttucdon of an approximately 103,U00 square foot building, end a certain Development Assistance Agreement between the Authority and the Developer (the ''Development Agreement's stating the terms and conditions thereof and the Authority's responsibilities respecting the assistance thereof hag been presented to the Board for its consideration. 3. The Board hereby deterarines that the Authority's execution end performance of the Development Agreement would be in furtherance of the Project Plan and hereby approves the Development Agreement, substantially in the form presented to the Board and hereby authorizes the otiicers of the Authority in their discretion and at such time, if any, as they may deem RESOI.L'TION NO. 97-EDA67 PAGE TWO OF TWO appropriate to execute the same on behalf of the Authority and with any other such additions and modifications as those officers may deem desirable or necessary as evidenced by their execution thereof; provided that the Authority's execution and delivery of the Development Agreement shall be conditioned ors the fact that the Developer and City shall first successfully negotiate a mutually acceptable Park Dedication Fee. 3. Upon execution and delivery of the Development Assistance Agreement, the officers and employees of the Authority (including members of the City staff, acting in their capacity as staff to the Authority as well) are hereby authorized and directed to take or cause to be taken such actions as may be appropriate or necessary on behalf of the Authority to implement the Development Assistance Agreement, including without limitation issuance of the EDA Note and execution of the Certificate of Completion under the Development Assistance Agreement. 4. The Boazd hereby determines that the execution and performance of the Development Assistance Agreement will help realize the public purposes of the Act and are in furtherance of the Project. Adopted by the Board of Commissioners of the Mounds View Economic Development Authority on August 2~, 1997. j /, Duane McCarty, President ' ATTEST: Cathy Bennett, Executive Director i r 4Ri~i 8 RESOLUTION N0.97-EDA67 • CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION OF A DEVELOPMENT ASSISTANCE; AGREEMENT WITH THE EVEREST GROUP, LTD., REGARDING THE BUILDING "N" PROJECT 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 Statues, Sections 469.124 to 469.134 and 469.090 to 469.108 (collectively, the '`Act") (b) Pursuant to anti 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 oi~Mounds View and in 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 achiieve the objectives of the Project Plan, the Authority has determined to provide substantial aid and assistance through the financing of certain of the public costs of development (f) The Everest Group, Ltd. (the "Developer"), has presented the Authority with a proposal for the complc;tion of certain improvements within the Project, consisting generally of the construction of an approximately 103,000 square foot building, and a certain Development Assistance Agreement between the Authority and the Developer (the "Development Agreement") stating the terms and conditions thereof and the Authority's responsibilities respecting the assistance thereof has been presented to the Board for its consideration. ?. The Board hereby determines that ti'~e Authority's execution and performance of the Development Agreement would be in furtherance of the Project Plan and hereby approves the Development Agreement, substantially in the form presented to the Board and hereby authorizes the officers of the Authority in their discretion and at such time, if any, as they may deem RESOLUTION NO. 97-EDA67 ' PAGE TWO OF TWO appropriate to execute the same on behalf of the Authority, with modification to Section 3.4 (c) to extend the date of substantial completion from December 31, 1999 to December 31, 2002, and with any other such additions and modifications as those officers may deem desirable or necessary as evidenced by their execution thereof; provided that the Authority's execution and delivery of the Development Agreement shall be conditioned on the fact that the Developer and City shall first successfully negotiate a mutually acceptable Park Dedication Fee. 3. Upon execution and delivery of the Development Assistance Agreement, the officers and employees of the Authority (including members of the City staff, acting in their capacity as staff to the Authority as well) are hereby authorized and directed to take or cause to be taken such actions as may be appropriate or necessary on behalf of the Authority to implement the Development Assistance Agreement, including without limitation issuance of the EDA Note and execution of the Certificate of Completion under the Development Assistance Agreement. 4. The Board hereby determines that the execution and performance of the Development Assistance Agreement as amended will help realize the public purposes of the Act and are in furtherance of the Project. Adopted by the Board of Commissioners of the Mounds View Economic Development Authority on August 25, 1997. --~.\ ,-~ G~ BY: Duane McCarty, President ATTEST: Cathy Bennett, Executive Director n Secretary's Certificate S I, the undersi ned, bein the dul ualified and actin g g Y 4 g Secretary of the Mounds View Economic Development Authority, do hereby certify that I have carefully compared the attached and foregoing resolution adopted at a special or regular meeting of the Board of Commissioners of said Authority duly called and regularly held on the date therein indicated with the original thereof on file in my office and I further certify the same is a full, true, and correct copy thereof, insofar as the same relates to the approval of a certain Development Assistance Agreement between the Authority and The Everest Group, Ltd., respecting a certain Building "N" project. I further certify that Boardmember adoption of said resolution, that Boardmember moved the seconded said motion, and that upon a vote being taken thereon, the following Boardmembers voted in favor thereof: and the following Boardmembers voted against the same: whereupon said resolution was declared duly passed and adopted. WITNESS my hand as such Secretary of said Authority this day of 1997. Secretary Mounds View Economic Development Authority 334455.2 • RESOLUTION NO.97-EDA67 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION OF A DEVELOPMENT ASSISTANCE AGREEMENT WITH THE EVEREST GROUP, LTD., REGARDING THE BUILDING "N" PROJECT 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) Pursuant to Minnesota Statues, 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 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 public costs of development (f) The Everest Group, Ltd. (the "Developer"), has presented the Authority with a proposal for the completion of certain improvements within the Project, consisting generally of the construction of an approximately 103,000 square foot building, and a certain Development Assistance Agreement between the Authority and the Developer (the "Development Agreement") stating the terms and conditions thereof and the Authority's responsibilities respecting the assistance thereof has been presented to the Board for its consideration. 2. The Board hereby determines that the Authority's execution and performance of the Development Agreement would be in furtherance of the Project Plan and hereby approves the • Development Agreement, substantially in the form presented to the Board and hereby authorizes the officers of the Authority in their discretion and at such time, if any, as they may deem RESOLUTION NO. 97-EDA67 PAGE TWO OF TWO appropriate to execute the same on behalf of the Authority and with any other such additions and modifications as those officers may deem desirable or necessary as evidenced by their execution thereof; provided that the Authority's execution and delivery of the Development Agreement shall be conditioned on the fact that the Developer shall first pay a Park Dedication Fee of $56,771.00. 3. Upon execution and delivery of the Development Assistance Agreement, the officers and employees of the Authority (including members ol'the City staff, acting in their capacity as staff to the Authority as well) are hereby authorized and directed to take or cause to be taken such actions as inay be appropriate or necessary on behalf of the Authority to implement the Development Assistance Agreement, including without limitation issuance of the EDA Note and execution of the Certificate of Completion under the Development Assistance Agreement. 4. The Board hereby determines that the execution and performance of the Development Assistance Agreement will help realize the public purposes of the Act and are in furtherance of the Project. Adopted by the Board of Conunissioners of the Mounds View Economic Development Authority on August 25, 1997. BY: Duane McCarty, President ATTEST: 1 ....._ ,C? Cathy Benne , Ex cutive Director