HomeMy WebLinkAbout1993-190
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RESOLUTION NO. 93-190
WHEREAS, the City has created, adopted and approved, pursuant
to the Minnesota Development Districts Act, as amended, Development
District Number 1, and has established Tax Increment Financing
District Number 4, pursuant to the Minnesota Tax Increment
Financing Act; and has prepared and approved a Tax Increment
Financing Plan for the Development District; and, in furtherance of
the Plan, the City has met and conferred with SuperValu Inc., and
Dayton Hudson Corporation in an effort to seek substantial private
improvements in the Financing District, since it is important to
the overall economy of the city and to the enhancement of the tax
base of the City, and the jobs provided by SuperValu and Dayton
Hudson Corporation; and,
WHEREAS, in furtherance of these objectives, a contract has
been developed by representatives of SuperValu and Dayton Hudson
Corporation and the city and a draft of the contract as approved by
the City Attorney and by SuperValu and Dayton Hudson Corporation
has been presented to the Council for review.
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
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1. That the form of Development Agreement as submitted to the
City Council and as drafted and prepared by the city Attorney be,
and the same hereby is, approved; and,
2. That the City Attorney is authorized to make any
appropriate scrivener's changes in the document prior to its
execution that are needed and necessary to accomplish the purposes
of the agreement; and,
3. The acting Mayor and City Clerk are hereby authorized on
behalf of the city and empowered to execute the Agreement as
approved.
Enacted this 28th day of September, 1993.
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- Gary F nke, Acting Mayor
ATTEST:
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