00-076 RESCITY OF ELK RIVER
COUNTY OF SHERBURNE
STATE OF MINNESOTA
RESOLUTION NO. 00-76
A RESOLUTION APPROVING AND AUTHORIZING THE
EXECUTION OF A DEVELOPMENT ASSISTANCE AGREEMENT
RESPECTING SOFTPAC PROJECT
BE IT RESOLVED by the City Council (the "Council") of the City
of Elk River, Minnesota (the "City"), as follows:
1. Recitals.
(a) The City has the powers provided in Minnesota
Statutes, Sections 469.124 through 469.134 (the "Act").
(b) Pursuant to and in furtherance of the objectives of
the Act, the City has undertaken a program to promote
redevelopment of certain land within the City, and in this
connection is engaged in carrying out its development project
known as its Development District No. 1 (the ,'Development
District") in an area (the "Project Area") located in the
City.
(c) There has been approved by the Council, pursuant to
the Act, a Development Program for the Development District,
as amended (the ,'Development Program").
(d) In order to achieve the objectives of the
Development Program and particularly to make the land in the
Project Area available for redevelopment by private enterprise
in conformance with the Development Program, the City has
determined to provide substantial aid and assistance in
connection with the Development Program through the financing
of certain of the public costs of development in the Project
Area. ~
(e) Opus Northwest, L.L.C. (the "Company"), has
presented the City with a proposal for the construction within
the Project Area of certain improvements, and a certain
Development Assistance Agreement (the ,,Agreement") between the
City and the Company, stating the terms and conditions of such
development and the City's and the Company's responsibilities
respecting the assistance thereof, has been presented to the
Council for its consideration.
2. The Council hereby approves the Agreement substantially in
the form presented to the Council and hereby authorizes the Mayor
and City Clerk, in their discretion and at such time, if any, as
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they may deem appropriate, to execute the.same on behalf of the
city, with such additions and modifications as those officers may
deem desirable or necessary, as evidenced by their execution
thereof.
3. Upon execution and delivery of the Agreement, the officers
and employees of the City are hereby authorized and directed to
take or cause to be taken such actions as may be necessary on
behalf of the City to implement the Agreement, including without
limitation the issuance of the TIF Bond thereunder.
4. The Council hereby determines that the execution and
performance of the Agreement will help realize the public purposes
of the Act and are in furtherance of the Development Program.
Adopted on August 28 , 2000, by the Elk River City Council.
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STATE OF MINNESOTA )
)
COUNTY OF SHERBURNE )
SS.
C~TY CLERK'S CERTIFICATE
I, the undersigned, being the duly qualified and acting City
Clerk of the City of Elk River, Minnesota, (the "City"), hereby
certify that I have carefully compared the attached and foregoing
resolution with the original on file in my office and further
certify that the same is a full, true and complete copy thereof,
relating to the authorization by the City Council of the City of
the execution of a certain Development Assistance Agreement between
the City, and Opus Northwest, L.L.C., and SoftPac, Inc.
I further certify that said resolution was duly adopted by
said Council at a duly called and regularly held regular or special
meeting thereof.
Witness my hand officially as s~ch City Clerk ald the official
seal of the City this~ day of ~~ 2000.
c~ty Cl~rk' '
Elk River, Minnesota
(SEAL)
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