RES 18-43City of Elk River
City Council
Resolution 18- 43
A Resolution of the City Council of the City of Elk River Approving an
Amendment to Tax Abatement Agreement for Mowry Properties, Inc
WHEREAS, the City of Elk River, Minnesota (the "City") and Mowry Properties, Inc.
(the "Developer") previously entered into a Tax Abatement and Business Subsidy Agreement
dated September 4, 2007 (the "Original Agreement") to construct an approximate 60,000
square foot light industrial facility;
WHEREAS, all capitalized terms in this resolution have the meanings provided in the
Abatement Agreement unless context dearly requires otherwise;
WHEREAS, the Original Agreement and the resolution adopted by the City Council
on July 16, 2007 approving the Original Agreement and the Tax Abatements to be provided
thereunder stated that the term of the Tax Abatements would be for a period of up to 12 years
but the dates stated in the Original Agreement were for a period of only 9 years ending in 2018;
WHEREAS, a period of only 9 years is insufficient to generate Tax Abatements in the
amount of $384,199 as provided in the Original Agreement;
WHEREAS, the Developer has requested that the City amend the Abatement
Agreement to correct the duration of the Tax Abatements pursuant to a First Amendment to
Abatement Agreement by and between the City and the Assignee (the "Amendment");
NOW, THEREFORE, BE IT RESOLVED BY the City Council (the "Council") of
the City of Elk River, Minnesota as follows:
1. Execution of Documents. The City Council hereby approves the Amendment
and any related documents necessary in connection therewith (collectively, the
"Documents") and, the Mayor and City Clerk are hereby authorized and directed to execute
the Documents to which the City is a party on behalf of the City and to carry out, on behalf
of the City, the City's obligations thereunder. In the event of absence or disability of the
officers, any of the Documents authorized by this Resolution to be executed may be
executed without further act or authorization of the Council by any duly designated acting
official, or by such other officer or officers of the City as, in the opinion of the City
Attorney, may act in their behalf.
2. Finalizing Documents. The approval hereby given to the Documents
includes approval of such additional details therein as may be necessary and appropriate and
AP VRE
such modifications thereof, deletions therefrom and additions thereto as may be necessary
and appropriate and approved by legal counsel to the City and by the officers authorized
herein to execute said Documents prior to their execution; and said officers are hereby
authorized to approve said changes on behalf of the City. The execution of any instrument
by the appropriate officers of the City herein authorized shall be conclusive evidence of the
approval of such Document in accordance with the terms hereof.
3. Conflicting Provisions. In the event of a conflict between the content of this
resolution and the Documents, the terms of the Documents shall prevail.
Passed and adopted this 16'' day of July 2018.
ATTEST:,Z
Tina Allard, City Clerk
PIMFIEI Ir
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