RESOLUTION # 10-51
Resolution to approve payment to Yogi Somerville consistent with
Developer’s Agreement.
WHEREAS, The City of Monticello and Mel “Yogi” Somerville previously entered into a Development Agreement dated October 20, 2009 and approved by Resolution of the City Council, and
WHEREAS, Said Development Agreement provided that the City would pay to the Developer the sum of $21,450 “Upon completion of construction and receipt of occupancy permit from the City with respect to the completed project – a Grant Payment in the amount of $21,450”, and
WHEREAS, The Developer applied for and received an Occupancy Permit from the City Director of Public Works, Dana “Diz” Edwards, same bearing the date of 3/1/2010, a copy of same being appended hereto and, by this reference, incorporated within this Resolution as if set forth fully, verbatim, herein.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of Monticello, Iowa does hereby approve of the payment of the TIF Grant to Mel “Yogi” Somerville, as contemplated and required by the Development Agreement dated October 20, 2009, in the amount of $21,450.