The City of Monticello, Iowa
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF MONTICELLO, IOWA
RESOLUTION #14-31
Resolution to approve Economic Development Agreement between the City of Monticello, Karde’s Inc., Mike Beck, and Ken McDermott, hereinafter collectively referred to as the “Developers”.
WHEREAS, The City Council of Monticello and the Developers have negotiated the terms of a Developer’s Agreement, setting out obligations of all parties with regard to the development of an approximate 13 acre parcel located to the south of 190th Street at the intersection of 190th Street and S. Main Street, in Monticello, and
WHEREAS, Said Developer’s Agreement is, by this reference, incorporated within this Resolution as if it had been set forth fully verbatim herein, a copy of same being appended hereto, and
WHEREAS, The City finds it appropriate, proper, and in the best interests of the City to approve the proposed Development Agreement between the City and the Developers, as an incentive to develop the property, and specifically in regard to Karde’s Inc., to construct a needed gas station / convenience store / truck stop type facility, finding that the City is presently underserved in that category.
NOW, THEREFORE, BE IT RESOLVED that the City Council of Monticello, Iowa does hereby approve the proposed Developer’s Agreement and directs the Mayor to execute same on behalf of the City Council before same is presented to the Developers for approval, and after the approval of same by Developers directs the City Administrator to begin the process of amending the City Urban Renewal Plan to include the property of concern and the use of increment for purposes of Tax Rebates and Grants as set out within the Developer’s Agreement to promote economic development and the development of this property.
IN TESTIMONY WHEREOF, I have hereunto subscribed my name and caused the Great Seal of the City of Monticello, Iowa to be affixed hereto. Done this 17th day of March, 2014.
Dena Himes, Mayor
Attest:
Sally Hinrichsen, Monticello City Clerk