HomeMy WebLinkAbout8006 (Res.)
Councilmember Bodlovick moved and Councilmember Kimble seconded a motion that
r-' the following resolution be read and adopted this 20th day of December, 1988.
RESOLUTION NO. 8006
RESOLUTION APPROVING THE CONTRACT FOR
PRIVATE DEVELOPMENT BY AND BETWEEN THE
CITY AND INCSTAR CORPORATION.
WHEREAS, the City of Stillwater, Minnesota (the "City") desires to promote the
development of the property (the "Property") legally described as follows:
Lot 1, Block 1, Immuno Nuclear Industrial Park, according to the duly
recorded plat thereof, Washington County, Minnesota.
Lot 1, Block 1, St. Croix Business Park according to the duly recorded
plat thereof, Washington County, Minnesota, excepting therefrom that part
of Lot 1, Block 1, St. Croix Business Park platted as Immuno Nuclear
Industrial Park.
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WHEREAS, the City has determined that the development of the property is
necessary to carry out public improvements in the area which will benefit the
public and serve the public interest; and
WHEREAS, the City desires to assist in the development of the Property and
proposes to enter into a Contract for Private Redevelopment (the "Contract")
by and between the Ci ty and INCSTAR Corporati on (the "Devel oper"); and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Stillwater,
Minnesota:
1. That the terms and conditions of the Contract are hereby approved in
substantially the form presented to the City.
2. The Mayor and City Clerk of the City are hereby authorized to execute
the Contract on behalf of the City with such insubstantial changes and
modifications as they may approve, such approval to be conclusively
evidenced by the execution and delivery of the Contract. The Contract
will not be effective until The Downtown and Industrial Park Scattered
Site Redevelopment Tax Increment Financing Plan Modification #4 has been
approved by the City Council.
The question was on adoption of the resolution and upon a vote being taken
thereon the following voted in favor thereof:
A 11 present.
and the following noted against the same:
None.
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WHEREUPON THE MAYOR DECLARED THE MOTION CARRIED AND THE RESOLUTION ADOPTED
r-' THIS 20TH DAY OF DECEMBER, 1988.
ATTEST:
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