HomeMy WebLinkAboutResolution 05-EDA202
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RESOLUTION NO. 05-EDA-202
MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION AUTHORIZING PAYMENT OF PAY-AS-YOU-GO DEVELOPER PAYMENTS TO
RED CENT MANAGEMENT, LLC; HEARTLAND-MOUNDS VIEW COMMON BOND; BRIDGES
LEASING COMPANY; AND KENMARK PARTNERSHIP,LLP.
It is hereby resolved by the Board of Commissioners (the "Board") of the Mounds View
Economic Development Authority (the "Authority") as follows:
WHEREAS, the EDA has entered into pay-as-you-go development agreements on six
properties with the developers of those properties; and,
WHEREAS, second half payments for Pay 2004 regarding four of these agreements are
due on February 1st; and,
WHEREAS, payment of $24,232.96 to Red Cent Management, LLC (The Everest Group),
for the Building N project is now appropriate; and,
WHEREAS, payment of $30,680.74 to Heartland-Mounds View Common Bond for the
Silver Lake Pointe project is now appropriate; and,
WHEREAS, payment of $27,423.00 to 21st Century Bank on behalf of Bridges Leasing
Company for the Midwest I.V. project is now appropriate; and,
WHEREAS, payment of $8,123.39 to Kenmark Partnership, LLP for the Zep Manufacturing
project is now appropriate.
NOW THEREFORE BE IT RESOLVED, that the Mounds View Economic Development
Authority does hereby approve payments of $24,232.96 to Red Cent Management, LLC, $30,680.74
to Heartland-Mounds View Common Bond, $27,423.00 to 21st Century Bank on behalf of Bridges
Leasing, and $8,123.39 to Kenmark Partnership under pay-as-you-go development agreements.
Adopted by the Board of Commissioners of the Mounds ~iew Economic Development
Authority this 24th day of January, 2005. d~~ ~
Rob Marty, President .....\
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Kurt Ulrich, Executive irector
ATTEST:
(seal)