Res 02-09HHOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF
MOUND, MINNESOTA
RESOLUTION NO. 02-09H
RESOLUTION APPROVING A BUSINESS SUBSIDY
AGREEMENT BETWEEN THE HOUSING AND REDEVELOPMENT
AUTHORITY IN AND FOR THE CITY OF MOUND, AND
RODNEY R. DIETRICH AND DOREEN K. DIETRICH.
BE IT RESOLVED By the Housing and Redevelopment Authority in and for the City of
Mound, Minnesota, (the "HRA") as follows:
Section 1. Recitals.
1.01. On or about January 31, 2002, the HRA and the United States Postal Service
("USPS") entered into that certain document entitled, Assignable Option to Purchase Land
(the "Contract").
1.02. Such Contract was subsequently assigned by USPS to Rodney R. Dietrich
and Doreen K. Dietrich (the "Redeveloper") on or about April 1, 2002.
1.03. Such Contract was subsequently amended by amendment dated June 25,
2002.
1.04. Section 2.4 of the Contract as amended, called for the parties to enter into a
separate Business Subsidy Agreement as required by the Business Subsidy Act, setting
the level of assistance that is treated as a business subsidy under the Business Subsidy
Act.
1.05. There has been presented before the HRA a proposed business subsidy
agreement (the "Agreement") between the HRA, and the Redeveloper, setting forth the
terms and conditions of the business subsidy to be provided to the Redeveloper..
1.06. The HRA has on this date conducted a duly noticed public hearing regarding
the business subsidy agreement at which all interested persons were give an opportunity
to be heard.
1.07. The HRA has reviewed the Agreement, and finds that the execution thereof
by the HRA and performance of the HRA's obligations thereunder are in the best interest
of the City and its residents.
Section 2. HRA Approval; Further Proceedings.
2.01. The HRA approves the Agreement.
2.02. The Executive Director and Chair are authorized to take all steps and do all
things necessary to carry into effect the provisions of this resolution and the
Agreement.
2.03. The Executive Director is authorized to present the Agreement to the Mound
City Council for its consideration as required by the Business Subsidy Act.
2.04.
Upon the execution of the Agreement by the parties following approval, the
Executive Director is authorized to return $122,000 of the purchase price to
the Dietrich's after first deducting therefrom the amounts provided for in
sections 2.1 and 2.7 of the first amendment.
Approved by the Board of Commissioners of the Housing and Redevelopment Authority in
and for the City of Mound, Minnesota this 13th day of August, 2002.
Mark Hanus, Acting Chair
ATTEST:
Kan'dis M. Hanson, Executive Director
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